8 Things Every CEO Must Know

Some CEOs are praised for the work they accomplish. Others are
thrown out
for disappointing the Board. One of the more notable CEO shakeups of 2013 involved Ron Johnson, the former
Apple Store
executive who left Cupertino to run
J.C. Penney
. According to
, there were five "big mistakes" that led to his removal at J.C. Penney.
  • He misread what shoppers want.
  • He didn't test ideas in advance.
  • He alienated core customers.
  • He misread the brand.
  • He didn't like or respect the company.
If Johnson had spoken to CEO consultant Jaynie L. Smith last year, he might have been able to avoid some of these mistakes. Smith is the CEO of Smart Advantage, a marketing and management consultancy that focuses on identifying a company's competitive advantage. She is also the co-author of
Creating Competitive Advantage
Relevant Selling
. Click through the slideshow to see her eight tips that every CEO must know. Disclosure:
At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.

Posted In: CupertinoJaynie L. SmithRon JohnsonEducationEntrepreneurshipSuccess StoriesBe Your Own BossInterviewGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.