Principle 1: Know Your Comparative Advantage

Many CEOs I’ve encountered say, “Here are the top five priorities for the company. Who would be the best at carrying out each one?” Then they propose themselves for all five areas. That might be the right answer, but it’s the wrong question, because it’s based on a self-centered concept of comparative advantage. It focuses on what an executive does best rather than on what the organization most needs from him or her.

A version of this article appeared in the May 2011 issue of Harvard Business Review.