So here are some things that reflect the unprecedented degrees of uncertainty, ambiguity and change that organisations and leaders now operate within include: Changing shifts in world economic power bases, global markets without borders, generations working side by side and technology opening doors to big data possibilities.
The leader who can manage within this context will have a distinct competitive advantage, but will require capabilities that can accommodate and adapt to the complexity. A recent article by Harvard Business Publishing (download it here) draws on data they have collected to identify the eight particularly important capabilities need to be successful in the new complexity of business. A summary of these appears below, however reading the full article will provide a much deeper understanding of what is required.
- Manage complexity:
Use systems thinking and continually scan the environment for change and disruptors. - Manage Global Business:
Identify the possibilities of global markets and what is happening with your customers, competitors and the markets in the global arena. - Act Strategically:
Being prepared to adjust strategies in response to rapidly changing circumstances. - Foster Innovation:
Being able to thinking not only in terms of incremental and disruptive innovation, but also breakthrough innovation. - Leverage Networks:
Capitalising on the networks of relationships the cross boundaries within and outside the organisation. - Inspire Engagement:
Fostering a culture that creates meaningful connections between employees’ aspirations and values those of the organisation. - Develop Personal Adaptability:
Remaining focussed and effective in the face of uncertainty and ambiguity, and being highly resilient. - Cultivate Learning Agility:
Not only seeing out opportunities to learn, but continuously experimenting with new approaches and reflecting on these so as to learn from successes and failures.
You may already have some of these capabilities, or be on your way to developing them. Either way, to survive in the ever-changing business context it is important to start. The Avondale Business School (ABS) can help you with your leadership development. To find out how, contact Dr Warrick Long via [email protected]