C-Suite Intelligence 16th June 2020

Winmark's C-Suite Intelligence service provides news, content and research to help leaders across all C-Suite functions address the exceptional challenges they are facing.

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What leading with optimism really looks like
Harvard Business Review
This article provides examples of the efficacy of positive psychology interventions upon organisational performance and outlines four key strategies for leaders to follow: 
  1. Role model from the top: This is the first step for leaders who want to create positive mindset in the midst of setback: model that mindset yourself.
  2. Help employees connect before asking them to change: People don’t typically make positive changes in isolation. It’s imperative that leaders help people feel connected before expecting them to enact positive change.
  3. Make changes part of the routine way of doing work: As a leader work with people to create patterns that reinforce the positive.
  4. Track outcomes to make the changes sustainable: If there is no perceived change, or if there is no data justifying the approach, a culture change will not take root. 


Lessons for CFOs from COVID-19
McKinsey & Company
In the current environment the CFO must permanently build speed and flexibility into forecasting, planning, and resource-allocation processes and incorporate new tools and rapid decision-making protocols into the finance team’s day-to-day work.
This article provides instruction for CFOs in six critical areas: 
  1. Setting multiple flight paths (or business scenarios)
  2. Building flexibility into planning and forecasting cycles
  3. Adopting contingency-based resource reallocation (or “contingent resourcing”)
  4. Improving performance reporting
  5. Accelerating decision making
  6. Securing senior leadership’s commitment to bold, strategic moves 
Planning to make remote work permanent? These research studies provide food for thought
Two new surveys show that teams forced into remote work during the pandemic are split on whether they want to continue working remotely going forward. However, in those same surveys, many business leaders are planning to make remote work permanent.
While it's clear that remote work is proving more successful than might have been anticipated, this research raises some red flags to be aware of, including the potential for employee burnout.   
Managing change remotely
This two part article provides a framework for managing change remotely
Part One examines how leaders can plan change and engage stakeholders remotely.
Part Two examines how change managers can build capability and drive adoption while ensuring that change is sustainable.

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