Last week I attended the Chartered Management Institutes Annual Convention. One of the key strands was leadership now – how should we adapt to difficult times – and leadership in 2018 – what challenges will we face?
Below I’ve summarised my thoughts on the issues discussed – what do you think?
1. Leadership in a “downturn “
- This can be seen as a fundamental test of our beliefs and values. As leaders will we have the courage to stick to our convictions?
- We have no “monopoly on wisdom “. Now is the time , more than ever , to be talking and critically listening to our teams
- According to a 10 year study by Aston Business School companies who innovate (at all stages of the economic cycle) achieve better levels of profitability and competitive advantage. We need to keep creativity alive.
- We need to be clear (to ourselves and others) what it is we can and can’t control. We need to effectively manage downside risk.
- Crisis can be used to implement major change. We have a clear “ burning platform “ we just need to add Vision , a Plan and Next Steps
- The media will cover “mad, bad and sad “stories. Our internal and external communication must be honest and realistic ( not pessimistic ) and celebrate any small successes
2. Leadership in 2018
An extensive research study by the CMI has looked at the future world we may face where
- Brazil , Russia , India and China will have a greater influence
- Business models will change ( being both more employee and customer centric )
- The sharing of knowledge will be heavily reliant on new technologies
And the implications for Leaders are
- A greater need for transferable skills that are constantly updated
- Coaching our teams to ensure they develop
- Extensive networking outside of home industry
- Managing a greater work /life balance for us all
You can find further information on “management futures “ via the website www.managers.org.uk