What Constitutes Leadership in a Digitalized Business World? 7 Takeaways for Digital Leaders
Gert Christen ??
Helping foreign companies start sales in the USA │ CEO at USA Launching Pad │ Senior Advisor to McKinsey │ Lecturer at UC Berkeley
7 personal takeaways by André Meister, Partner at NOVO Business Consultants, after completing HWZ University’s graduate certificate (CAS) in “Digital Leadership” and a study tour to Silicon Valley.
Read the full article here. First published at HWZ Digital, translated from German by Gert Christen.
Digital technologies and the changes of behavior that come along with them touch every aspect of businesses. Technologies change and customer and user behaviors change, too. And leadership must change, too, or we risk to run businesses in non-compatible ways. Digital leadership is influenced by the following 7 drivers:
1. A fundamental shift of power in organizations: From hierarchical to networked.
2. Traits of a good leader: Vision, clear values, role model, be present, develop employees, communication, justness & due process, expert knowledge, self-reflection
3. Fast, agile & flexible organizations.
4. Dual transformation: Reinventing today's business and creating tomorrow's.
5. Being good enough is not enough: 10x better is the new mindset.
6. Success factors of digital businesses: Global platforms, fusion of old & new, open organizations, disruptive hypothesis, build pilots & prototypes, use assets owned by others, world-class data science, customer leadership, finances, pace & decision making.
7. Entrepreneurship is a process, not a sudden flash of inspiration!
How do you lead and how do you adjust for the digital transformation? Let us know. Thank you André for taking the time to share this article.