We all might have experienced the feeling that paying insurance seems like an unnecessary expense, until the day it becomes the best money we have ever spent. This usually comes as realisation after something “bad” has happened.
There is a similarity for businesses. There are plenty of services they can invest in and that might look like not necessary or vital. In other words those services look like an insurance. The financial investment versus the cost of not investing is always a hard one to calculate.
Changes come when we least expect them, ignoring the warning signs or the chance to invest when we can is not a strategy we can afford anymore. Globalisation is rapidly redefining today’s business environment. While we assist to vast opportunities for growth at the same time we also observe that the pool of organisations capable of seizing those opportunities is shrinking.
Those who can stay ahead of the rapid pace of change, anticipate talent needs, and take the lead in developing innovative strategies for the future. The future of business rests, in part, on how well business leaders can anticipate change, demonstrate authentic leadership, and embrace social responsibility. Leaders who are adapting their strategies to the constantly changing environment are merely keeping pace with change. A more strategic view of agility is about leaders anticipating trends and proactively putting forward innovative strategies; in other words, leaders who are investing in change.
To drive future success, business leaders must position their organisations to be more flexible and invest into innovation. This means creating an environment where individuals are willing to challenge the status quo and take the risks that go hand in hand with renewing products and services to meet customers' demand.
Flexibility and innovation require fast and effective decision making process. Leaders are required, in these circumstances, to embolden others to make decisions rather than limiting decision making to an exclusive pool of people at the top.
These leaders ground their approach on shared values and common understanding of corporate goals. In other words, their process to take decisions is based on guiding principles rather than on a fixed set of rules. They create an environment based on encouraging employee initiative, delegation of authority, and strong career development. At the same time this type of environment, tests leaders to honing their ability to actively listen, to empathise, and to nurture innovation. Skills that motivate and mobilise employee around business objectives. Investing in nurturing, coaching or training individuals in improving and managing these skills will create a thriving workforce.
We need to move from resisting change into learning to embrace it and ultimately to lead it to position the business successfully into the so called global economy world. Be smart, invest and prepare for change. It's stressful to live on the edge. Your employees will thank you.
If you would like an advice on managing change differently and to create a culture of innovation contact us on www.rnewb.com