Keeping Informed Effectively

As the company grows in size, Entrepreneurs should let their key managers run their departments within broad operating parameters. However,  it does not mean that the CEOs should be unaware of what is going on.

CEOs should have regular status meetings with key subordinates to review important issues in the functional areas of their responsibility. Rather than having the managers present the operational details on what is going on, the meeting should focus on accomplishments, issues, resources required, anticipated problems and solutions.

In order to make the one-on-one meeting effective, Entrepreneurs might want to set up a periodic written reporting system with their key managers so they can stay informed on the operations of their businesses before the individual meetings. Such reporting systems might include a summary of key accomplishments, planned upcoming activities and issues that might require assistance from the CEO. These reports could then be the basis of discussion in the one-on-one meetings.

A system of regularly scheduled meetings with key direct subordinates combined with a periodic reporting system allows Entrepreneurs to keep informed without micro managing their key managers on a daily basis.

Ravi Patel

www.patelCFOservices.com

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