Management of the last century was based on an industrial model that morphed into services is on the verge of the experience economy and headed toward a transformation economy. Leaders of the late 1990’s worked where knowledge was power and understanding how to use and apply the knowledge was a key factor of competitive advantage. Knowledge has been commoditized and today’s leaders lack confidence and are struggling to effectively lead in the midst of constant global change. Many people work from home or in an office but are tethered to a computer. As access to information and web-enabled networks grows, and our capacity to connect virtually to people expands, people and organizations are more and more lost as to how to reach new customers, build a differentiated brand, and develop new offers, products, services and experiences. Employees feel isolated, over loaded with information and confused.
You may be like other executives who have come to realize their leaders do not have the skills necessary to navigate matrix organizations, technology, and how to coordinate employees and outsourced agreements. The complexity of business has many individuals dazed, living in fear and anxiety about the future.
One of the keys to leading in the new economy is knowing how to identify, secure and coordinate the efforts of inventors, producers, marketers, distributors and service providers. Leaders need to optimize profits, create compelling, relevant products, services and experiences and take advantage of technology including data analytics, artificial intelligence and robotics.
Silicon Valley is the most advanced in creating new models of management and leadership. Leaders like Bill Gates, Steve Jobs, Jeff Bezos, Larry Page and Sergey Brin are all passionate connoisseurs of talent, lead coordinated efforts among subject matter global experts, create and use best in class technologies, manufacturers, distributors and world class marketers. They embrace and generate tectonic change as they navigate unknown possibilities and carve out a future for their organizations and teams.
My answer to developing leaders for the next century is simple yet hard to implement as it requires a stealth commitment to change, to embrace new actions and investments in your only true competitive differentiator–people. New commitments need to be made by senior leaders, reinforced by those leaders with routine inspections, rewards and consequences. As leaders grow in making and honoring commitments, cultivating talent and coordinating work flow, transitions and results a new culture and capacity emerges to create sustainable competitive advantage.
If you want to learn about AdviSoar’s Leadership Expedition and how to create the leaders of the new economy contact Kelly McDermott-Thurman at firstname.lastname@example.org.