Giving a CEO a formal performance review at the end of the year may be the jolt that helps a firm begin to take the CEO role seriously. If that sounds unrealistic, it might be time to consider how the CEO role should be filled in your organization. If, for example, you acknowledge that the future of the industry is changing quickly, considering these questions may lead you to contemplate whether the firm might be better off merging with another firm that could assume leadership. Perhaps you would look to your new partners to hire an outsider to fulfill the CEO role.
Regardless of the outcomes of these considerations, the bigger an organization gets-or wants to get-the more critical the need to take the responsibilities of the CEO seriously.