Innovative leaders need to be great at 5 things.

In this volatile business of ours, we can ill afford to rest on our laurels, even to pause in retrospect. Times and conditions change so rapidly that we must keep our aim constantly focused on the future. Walt Disney

Once upon a time there was a company called Blockbuster. Life was good. People drove in and rented movies. Business flourished and Blockbuster became part of our family DNA. Then one day a company called Netflix came along. They delivered DVD’s by mail! It slowly caught on. This evolved into the most popular Television network in America. Meanwhile, Blockbuster assumed people would always enjoy the inconvenience of unnecessary travel and late fees. They scoffed at the opportunity to acquire Netflix in 2000 for 50 million dollars.  Today, Blockbuster is dead. Netflix is still thriving, assuming they don’t repeat the same mistakes as our old friend Blockbuster. The end. . .  

Future success demands extraordinary leadership. Here are five things that future leaders need to possess.

Flexible

The economic climate today is rapidly changing. I tell people all the time, technological innovation will be almost vertical over the next several decades. Successful organizations need to be efficient in the art of innovation, or failure will be imminent. 

Since the industrial revolution, technology has been ushering in a pattern of steady innovation, but it transpired at a reasonable pace. Companies didn’t need to innovate quickly to be successful. Those days are gone.  

Today organizations have more competition than ever who are trying to steal market share and cannibalize their best talent. 

In addition, innovative companies are emerging that literally transform industries overnight (Amazon, Uber, Netflix). These companies completely disrupt existing businesses. 

Sadly enough, I see this trend in the radio industry. The survival of small market radio is in jeopardy and many operators are struggling with the inevitable challenges.  

Great leaders need to be flexible!

Mentor

Many companies have leaders who aren’t actively engaged with their people. 

Real leadership requires nurturing talent and cultivating a corporate culture that resonates with every individual and focuses on leaders who offer opportunity for personal enrichment.

Most leaders are still stuck in the antiquated practice of supervising. They are glorified administrators that excel in the art of management. Management is dead, or at least it should be. Management was invented to organize systems of control. Control doesn’t stimulate individual freedom or creativity.  

Leaders need to be inspiring, empowering and engaging to ensure innovation is occurring at every level. 

Great leaders need to mentor!

What worked in the past isn't going to work in the future. More is expected of leaders today. All of us need to start demanding more from ourselves as leaders. Vince Molinaro

Chaos

Business will become increasingly more chaotic, which will demand leaders that flourish in the cradle of unpredictability.  

Obsolescent systems that worked well in the past will not longer support the rapid changes of tomorrow. 

Leaders who can finesse through tumultuous times without vacillating over difficult decisions will succeed. Being able to reinvent the entire operation if necessary will require the guidance of exceptionally gifted individuals.

Great leaders manage chaos!

Technology

Great leaders of the future won’t need to be proficient at writing code, but they will need to be well versed in the capabilities, applications and potential of emerging technology.

Successful companies are hiring technology experts to commander a dramatic shift toward total dependency on the development of new technology designed to improve future viability. 

To remain competitive, businesses will need to make significant investment in the personal and technology required to endure constant change. Sitting around celebrating yesterday’s success will result in failure. 

Great leaders understand technology!

Emotional Intelligence

This is key!

The future of leadership looks very different than today.

Juggling artificial intelligence with people will demand exceptional emotional intelligence.

Assembly lines required hierarchy to prevent injury and ensure measurements and control. That evolved into a new wave of “management” that focused on control and processes.

Management became militant in their effort to control subordinates, which became a key leadership value. Today, it’s a competitive disadvantage.

The marriage between technology and people requires astute emotional intelligence.

Despite artificial intelligence, leaders of the future must possess several traits that emphasize human intervention. That demands; accountability, transparency, fairness, honesty, and the ability to create technology that benefits human beings. 

Learning to understand your emotions and the emotions of others will require tremendous concentration for leaders of the future. It's driven by empathy and humility, and requires the ability to apologize, which isn't necessarily an admonition of guilt.

Great leaders are emotionally intelligent!

“The future belongs to those who believe in the beauty of their dreams.” Eleanor Roosevelt

Do you think most business leaders are prepared for the future? Please like and share this article. I love learning more about your thoughts, so please share them in the comments section. 

Steve Wohlenhaus CEO Weatherology Author & podcast host Anatomy of Success.