“The biggest mistake we can make in uncertain times: to think we know.” -Beau Lotto
IS SEEING REALLY BELIEVING? Change is inevitable – but for us humans, the ability to adapt with it is anything but. The biggest obstacle to adapting and thriving in shifting environments is in our own heads: Our perceptions. Perception underpins the assumptions and biases that drive every single one of our thoughts, decisions, and actions. Most important, those assumptions and biases are borne from past experience that may not be relevant when coping with a new world.
ACTIONABLE ADVICE FOR SERIOUS TIMES GEOFF COLVIN spoke virtually to Global Leaders Organization in July. His practical and actionable advice for leaders is stunningly great! History has shown over and over that the competitive order is dramatically altered in times of crisis. What separates companies who thrive in a crisis vs. those that don't? The winning companies summon the courage to act faster than the competition. Geoff Colvin's contention is that someone is always going to win in critical times. Why not you, he asks? Here are five video excerpts from the Global Leaders Organization event with Geoff offering great lessons for leaders looking to exit this crisis stronger than they were before it began.
THE COMPETITIVE ORDER IS RESET IN TIMES LIKE THESE YOU CAN COUNT ON IT: The big lesson from past downturns is that the competitive order within industries is rearranged far more than will ever happen in prosperous times. It’s already happening -- the pandemic has spurred surprising innovation from companies across a wide range of industries, building a new competitive advantage for those bold enough to take action.
TAKING A STAND Have you noticed how more and more business leaders are becoming outspoken advocates on important topics? And - they’re making business decisions based on their convictions. The company that first got my attention on this was CVS which banned tobacco products from their stores in 2014, the first national retail chain to do so. They couldn’t reconcile being a health-focused company and selling a product proven to compromise their customer’s health. CVS has prospered in the aftermath. Since then, there’s been a trend of stakeholders holding companies accountable – asking them to stand for something more than just profits. These are the times we live in – and navigating that is tricky stuff for any business leader. Just ask Ed Stack, CEO of Dick’s Sporting Goods who banned assault-style rifles and raised the age to purchase guns to 21 after finding out his store sold the Parkland High School shooter a shotgun. That gun wasn’t used, but he felt the company needed to do something. They turned $5 million in assault rifles into scrap metal. Actions like that have a profound impact on the corporate culture of an organization as well as how the company is perceived by the public.
NAVIGATING DISRUPTIVE CHANGE As a leader, you and your organization confront the unexpected every single day. In an environment of constant disruption, the survival skill of our times is the ability to adapt on-the-fly. The foundation of that competency is a culture that is resilient, innovative, and constantly experimenting. In formulating a response to disruption, leaders must recognize - first and foremost - that all change goes against the rules. Polly LaBarre has devoted her career to uncovering the best examples of leaders and organizations that are succeeding by thinking differently about the forces driving change inside and outside their organizations. Polly is co-author of Mavericks at Work - Why the Most Original Minds in Business Win and also founding writer of Fast Company magazine. As co-founder of Management Lab, the think-and-do tank that provides counsel to top companies all over the globe, Polly tackles real-world obstacles to organizational competitiveness by helping clients create cultures that can adapt to change almost as fast as change itself. I asked Polly for her best advice for leaders who are navigating today’s unpredictable business environment. Here are highlights.
GEOFF COLVIN of Fortune has devoted his remarkable career covering the biggest stories in business. In recent years Geoff's focus has been chronicling the disruptive forces shaping the business landscape and how leaders are navigating them. From his work, Geoff says one thing is abundantly clear "the big difference between winners and also-rans in healthcare is that top leaders and companies confront the realities they’re facing faster than the competition."
Hardiness and the Courage To Lead How do great leaders find courage in defining moments, while most people don’t? That's the essence of leadership and the question has intrigued GEOFF COLVIN for years and led him to spearhead Fortune’s effort to create a different kind of top leaders list in 2014. Last week, Fortune announced the sixth annual World’s Greatest Leaders for 2019. As in the past, this year's list has some names you’ll know and many more that you won’t; but they all share a common leadership trait: “Great leaders never know for sure if their plans will work, but they plunge ahead anyway,” says Geoff. “That’s why we recognize sheer audacity, well-intended, even if the results aren’t known and even if the plans aren’t universally applauded.”
Fortune magazine just highlighted LinkedIn’s U.S. Emerging Jobs Report for 2018. LinkedIn measured the fastest growing jobs and skills in the country and is a window on the future of work. It highlights some stunning information like this: -Top Five Emerging Jobs -Top Five In-Demand Skills (Biggest Skills Gap) -Top Five Majors for Professionals in Emerging Jobs -Top Five Fastest-Growing by Job Title
THE INDOMITABLE SPIRIT OF NICOLE MALACHOWSKI