What are the essential elements for leaders and managers in this economy?
Given the complexity of the global business environment, leaders and managers should be able to appreciate the change drivers and their impact on the market served, competition and internal capabilities. Business models need to be regularly validated and adjustments on strategies and strategy implementation should be considered when the ground shifts significantly. In short, leaders and managers must thrive in uncertainty. The trend now is for businesses to compete through networks or alliance. Therefore, and additional skill set required would be the ability to manage relationships with network partners and guide everybody towards the common goals which would benefit everyone in the group.
