So much more is being asked of IT leaders after what has arguably been the biggest business disruption in recent memory. CIOs are tasked with deploying digital initiatives often while reducing costs, ensuring cybersecurity and compliance measures are in place, supporting innovation, and enhancing customer interactions, to name a few.
This article explores the following seven traits of highly effective digital leaders - those who have not only brought their organisations through the pandemic but have the skills necessary to thrive well into the future:
- Capable of navigating uncertainty
- Adept at building relationships
- Excellent communication
- Capable of cultivating a culture of collaboration
- Compelling storytelling.
This article examines one of the main themes emerging from Winmark’s C-Suite 2021 & Beyond report: that the C-Suite will seek to redefine their purpose and create long-term shareholder value across a wider range of stakeholders.
43% of respondents identified enhanced stakeholder communications as a top five priority area for 2021 - up from 29% in 2020. The research also highlights that despite confidence of a strong recovery, COVID has amplified disruptive forces and increased awareness around external threats which has led to a rise in the reprioritisation of risk.
The report, based on qualitative and quantitative research with more than 200 senior global executives across a range of departments, sectors and countries., found that building and redefining a long-term purpose across multiple generations will form a key component of building trust and ‘social capital’ for the long-term.
Faced with a global crisis in 2020, board directors and executives reported a renewed focus on corporate resilience according to a global survey. The responses suggest that in the pandemic’s wake, boards - especially those that were quickest to adapt to the crisis - are shifting their attention toward more specific risks and organisational and cultural issues.
The research identified boards that made changes to their structures, processes, and interpersonal dynamics during the pandemic and were effective in their overall response to the crisis.
These ‘most adaptable’ boards were more likely than their peers to have resilience on their agendas. But when asked about this year’s agenda, directors at the most adaptable boards suggest that they are moving away from overall resilience as a topic. They expect to focus more on three specific issues: geopolitical and macroeconomic risks (up 19% since 2020), political risks (up 15%) and climate-related risks (up 10%).