Change is hard. Leading change is even harder. Don’t let culture be an afterthought. Use it!
Though well-intentioned, that’s why over half of major transformation efforts fail. Why? Many reasons can include but aren’t limited to a bad strategy, a weak culture lacking trust and accountability, poor communication, low levels of buy-in, change fatigue and competing priorities. But one area where many company leaders fail regularly is learning how to leverage the company culture to drive change.
CFOs who embrace change and set challenging goals for the organisation are more likely to develop profit growth opportunities for their company, while a strict and traditional CFO could be bad for business. This is not just my opinion but now there is research behind it.
In a 2013 Strategy & Katzenbach Center survey of global senior leaders on culture and change management, the success of major change initiatives was only 54%. Why?
Everything that we ever needed to know about an entire generation was fixed when most of us didn’t have Facebook, Twitter didn’t exist, few of us knew who Barack Obama was, no one except realtors and bankers knew what a subprime mortgage was.
Whether you’re working in a corporate job or pursuing your entrepreneurial dream, here are eight essential leadership traits you’ll need to thrive in today’s increasingly uncertain economy.
Carvey describes today’s business world as “volatile, uncertain, complex, and ambiguous,” and says it’s crucial to stay productive through this time of change. “Leaders who know how to manage complexity are skilled at solving problems and making decisions under fast-changing systems,” the report says.
If you talk to enough people, you will find, as we have, many different and often contradictory answers to questions about management and leadership.
“If you have an organization that can’t change, you will become extinct,” Ossip insists.
Every successful business in today’s market is undergoing some degree of digital transformation. With the advancing pace of technology, no business will remain unchanged.
Working for a narcissist is certainly never dull. Defined by their extremely inflated sense of self, many narcissists do make great business leaders (albeit frustrating ones), because they are confident and good at persuading others to follow them.