The third part of this report (see part one here and part two here) highlights the dangers of business leaders having blind spots and puts forward a convincing case for businesses to get on the front foot with emerging trends and issues.
The findings are based on a survey of 310 company secretaries, board directors, and C-Suite executives. The report challenges leaders to get out of their bubbles, notice instinctive responses and reconsider whether the criteria used to make decisions are fit for purpose. The report suggests practical governance approaches, supported by data and psychological insight.
The concept of a VUCA world – one characterised by volatility, uncertainty, complexity and ambiguity – has gone from abstraction to reality, and the very nature of leadership challenges now revolves around:
- An accelerated pace of change.
- The need for resilience and a strong organisational immune system.
- "Wicked” problems and competing demands (e.g. efficiency vs innovation, performance vs human needs).
To navigate the complexity of these challenges, leaders can’t simply rely on their proven strengths and do more of what they’re good at. They need to expand their range and develop a well-rounded repertoire of leadership skills and behaviours.
How can companies thrive in the long term when the business-technology landscape is constantly shifting beneath them? The ability to recognise potential disruptions and the opportunities they present to innovate - paired with an understanding of how to drive innovation through strategic technology investments - can help C-Suite leaders learn how to work with their technology functions to build long-term competitive advantage.
This article identifies the investment practices of ‘technology vanguards’, a small subset of organisations (11.6%) identified by a recent global technology leadership study as more sophisticated than their peers in three areas: vision and strategy, market leadership, and technology function maturity.