The starting point for developing a highly functioning executive team is to recognize that things are different at the top, requiring a different attention and focus. The development of an effective executive team rarely happens by chance, but rather it is a result of paying attention and addressing the dynamics inherent in any executive team. The steps to exemplary executive team performance are neither difficult nor complex. They do, however, require time, energy, and commitment. And this is only possible when executive team development is made a priority.

Executive teams that want to gain a competitive advantage need to focus on three areas—right purpose, right people, and right process. When ...

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