Executive Leadership Requirements in a Hyper-Competitive World Hosted by Grafton Consulting Group April 5, 2011 BEESON CONSULTING, INC. Topics to Discuss Brief review of Conference Board Research Study Implications for senior leaders: – Your role – Your ongoing development Suggestions for identifying/developing your organization’s next generation of leaders Background on Conference Board Research Report What are primary business/organizational challenges senior leaders must be equipped with to face in a globalizing, highly-competitive world? What critical capabilities must senior leaders have to succeed? What practices promote the development of future leaders with the required skills and capabilities? The Research Thrust Surveys and interviews with 32 large organizations, mostly global – America and international MNCs 40 thought leaders from around the world, e.g., – Paul Evans, INSEAD – Henry Mintzberg, McGill University – Noel Tichy, University of Michigan Forces Driving Change Hyper-Competition Globalization Technology Financial Market Expectations Employee Expectations Focus on Customer Relationships Changing Organization Structures Workforce Demographics Implications for Senior Leaders Continued importance of “softer” leadership skills – Vs. technical skills, industry knowledge Four key roles 1. 2. 3. 4. Master strategist Change leader Relationship builder/network manager Talent developer Derailment Factors Risk aversion: – Hesitancy to take necessary business/organizational risks Arrogance and insensitivity Overly controlling leadership style Reluctance to deal with difficult people issues Failure to manage stress/avoid burnout Your Ongoing Development as a Leader Two Foundation Questions: 1. As a leader – Where should I be spending my time and energy? – How can I add the greatest value to the organization? 2. What set of skills/expertise do I need on my team – For us to accomplish our performance objectives? – To allow me to play that value-adding role? Suggestions for Your Personal Development 1. Build your team: – The source of your personal success – To free up “bandwidth” for high-value executive activities 2. Get out into your “marketplace”: – Customers, stakeholders, external constituencies Hone your strategic thinking and change management skills – And find multiple sources of input for strategy and innovation Seek periodic feedback – Especially to determine when your leadership style/approach needs a “tune up” as strategic and organizational requirements change Developing Your Organization’s Next Generation of Senior Leadership Assess early and often Provide future leaders with a rich set of experiences and assignments – For example, cross-functional/organizational; customer contact; market-facing roles – To develop a breadth of perspective on the business and organization Candid, constructive – but not brutal – feedback Monitor learning ability Q&A