How Do Leaders Drive Responsible Industry Transformation?

 

"In today's era of volatility, there is no other way but to re-invent. The only sustainable advantage you can have over others is agility, that's it. Because nothing else is sustainable, everything else you create, somebody else will replicate." ―Jeff Bezo, CEO and President, Amazon

 

Transformation means different things to different individuals, industries, and organizations. Leaders must dream and think big to drive industry transformation effectively especially in the post-coronavirus world. Additionally, exponential thinking is essential for leaders to lead in today's exponentially disrupted business environment. Transformation involves strategic thinking, strategic decisions, and above all, reinventing as per the changing times and technologies.

 

Driving a responsible industry transformation involves the usage of innovative business models and digital tools and technologies to improve the products and services to add value to customers and clients. It helps adapt organizations in a rapidly changing world and improving the organizational bottom lines. In a nutshell, it adds value for customers, engages employees effectively, and increases profits for shareholders.

 

Leaders must impart training programs to their employees regularly to upgrade skills, knowledge, and abilities to drive organizational transformation effectively. They must prepare their organizations for disruption and innovate constantly and embrace change effectively. They must accept volatility, uncertainty, complexity, and ambiguity (VUCA).

 

"At least 40% of all businesses will die in the next 10 years… If they don't figure out how to change their entire company to accommodate new technologies."  — John Chambers, Cisco System

 

Reference

https://www.amazon.com/Soft-Leadership-New-Direction/dp/1949003523

 

 

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Professor M.S. Rao

Founder of MSR Leadership Consultants, India

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