Stephen Stumph of N.Y. Univ's graduate School of Management, has identified six major skills needed at the top once you get there. They are:

1. Having a vision. Executives must fashion a vision of what the company can be, champion that view and get employees behind it.
2. Managing rivalry. A CEO should not try to eliminate competition between subordinates and sub-units entirely, because it can be positive.
3. Thoroughly knowing the products, customers, and competition.
4. Maintaining a consistent strategy. The best managers stick with the strategy once it is set.
5. Identifying problems early.
6. Accommodating adversity. Senior executives must be able to get around roadblocks and bounce back from failure.

What mistakes do all good managers avoid? James K. Van Fleet, a consultant on managerial motivation techniques, suggests the most common mistakes:

1. Trying to be liked rather than respected.
2. Not asking your subordinates for their advice and help.
3. Not developing a sense of responsibility in your subordinates, and not expecting it from your peers.
4. Emphasizing rules rather than skills among your employees, and thwarting personal talent.
5. Not keeping criticism constructive.
6. Ignoring employee complaints.
7. Keeping people uninformed not respecting their right to know.