Love is the answer…

The Vienna Global Peter Drucker Forum - took place in mid-November for the 13th time. It was an honour and a pleasure being part of two prolific digital days and two inspiring in-person days in Vienna. The Vienna Forum is truly a magical mix. The cultural richness of Peter Drucker’s hometown, where he grew up, developed as a person, as a thinker and got inspired by thinkers as Schumpeter, Polanyi, Popper, Hayek, and others is just one element. The dialogue between state of the art researchers and front edge practitioners and the integration of “young people” adding a fresh and thought-provoking dimension into the packed program complete the mix, establishing the Forum as a place where the future is created.

The pure quality and quantity of distinguished speakers have been overwhelming. It’s almost impossible for me to summarize this event in a couple of words. Nevertheless, I would like to highlight just a few contributions and share my personal view.

Digital transformation everywhere.

Business models and leadership are challenged by the extreme impact that technology and automation had. It is only inevitable that everything that can be automated will be at some point. The message that needs to get through is not to get overwhelmed by IOT, AI and all other digitalization dimensions.

The impact on the workforce and for the people in the organization is significant. The fear of losing their job or not being able to meet new requirements and skillsets seem to escalate within organizations.

James M. Loree (CEO Stanley Black & Decker) set an example with his intensive Training and Coaching initiative to adequately support every employee and take fear out of the culture. The intention is to upskill and liberate the creative human potential, which is something that no machine could ever provide. ?

Maud Bailly (CEO Southern Europe, Accor Group) described the challenges and opportunities of digitalization. She also went beyond our expectations by revealing how she can individualize the guest experience with the help of digital tools. With her positive charisma and esprit, she represented the deciding leadership ingredients in an analogue way: customer orientation, intentionality and confidence.??

Technology’s main role is to empower people.

In the end, most panels reached a consensus that leadership nowadays should set a direction and provide a “safe space” for the employees.

New Work – Hybrid Work

There used to be a time when life was clearly divided into 3 different segments: Home, work and a third place for leisure activities such as sport, play and relaxation. This has changed radically. The meaning of “life balance” has shifted.

Claudia Crummenerl (VP P&O practice, Capgemini Invent) and Avivah Wittenberg-Cox (Founder & CEO, 20-first) elaborated on the consequences of the Corona-Crisis in recent years. Avivah mentioned the three “F′s” (Flexibility, Family and flatter hierarchies) as positive elements of working from home.

On the other hand, things can get critical when there’s no separation between our private and professional life. Nowadays, our colleagues and business partners are free to digitally enter our homes, kitchens or private desks. Claudia stated that due to remote work, there is less “cross-silo” communication. “You don′t bounce into each other, see something on the desk or notice certain emotions”. You are focused on the obvious duties at hand, solving concrete problems with your team. What gets lost in the long run is the social cohesion. The office is the place where you experience culture, the energy and aura of real people.

And “offices” of the future will never be the same; they have to be designed to add value and be attractive, so the employees want to come in. Going to the office will no longer be a routine, but chosen moments for a good reason.

Leadership

The context of leadership has changed. The millennials comprise the largest group of the workforce right now. They are looking for the meaning of life and are more independent than older generations. We′ve already mentioned the external drivers - digitalization, climate, and the disruptions such as the pandemic and others. A different set of KPI′s will have to reflect those developments. While emphasizing the societal responsibility of modern companies, we can refer to Drucker’s view on management as crucial for a functioning society.

As a representative of the younger generation, Jasmine Manet (CEO Youth forever) made it clear that young people believe in themselves, and they also believe in companies. Companies should have a purpose, but they shouldn’t stop there. They should have a real duty at the same time. ??

When it comes to leadership, there is, of course, a lot of riding the waves of labels. An inflation of different marketed names to begin with.

At the Forum, the term “Humanistic Leadership” or “Ethical Leadership” captured best and most holistically the idea that leadership has to be value-based and put people into the center. That′s, for instance, why Behnam Tabrizi, in his passionate contribution, sees the need for training based on values rather than on tools and techniques.

Many necessary ingredients of leadership have been described at the Forum. Humility and humbleness, curiosity, trust, inclusion and last but not least, love.

Loving what you do and loving people as the energy we need to make a difference in the world together. The new “power skills” are social, and love is the ultimate answer!?

Looking forward to the 14th Vienna Global Peter Drucker Forum November 16-18, 2022 on “Performance that matters – Sparking the entrepreneurial spirit”.