There is a shift required for the next generation of leaders and board members. We see this shift in three main areas:
1) Data-based Decision Making
Focus here should be on smart decision-making based on refined information rather than incomplete data, or even worse, spontaneous intuitions in the room. Organisations should encourage a data-driven culture – one where a test & learn approach is rewarded and mistakes are celebrated – vs. a long-winded central planning process.
The implications this brings forth include a greater need to understand technological advancements within the areas of automatised data processing and big data – with a focus on measurability. The actual information should be readily available, processed via advanced analytics and presented with real time dashboards. Technological advancements are key to this shift, however it should be highlighted that people are the ones implementing and developing technology and ensuring that organisations harness the optimal benefits of the technology itself.
2) Openness and Transparency
The second key shift for the next generation of leaders is that of openness and transparency. Leaders play a tremendous role in enabling a culture of collaboration, setting and implementing values based on transparency and interaction, over rewarding silos and individual efforts.
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