... until your people start living it
Read this article if you are curious about ...
Statistics say there is a 90% chance your organisation will cease to exist in just a few decades even if you have a rocksolid strategy in place. Your leaders are simply not prepared to step up as transformation leaders, and organisations are not focusing on the right measures to prepare them for this live-or-die task.
This short read will show you why you need to formulate the strategy in a human way, how to overcome biased budgeting and to stop chasing negative ROI. They all belong in the past. It is time to turn things upside down when it comes to connecting strategy and leadership.
If you compare the 1955 Fortune 500 companies to the 2019 Fortune 500, only 52 companies remain on the list. In other words, 448 companies have for various reasons disappeared from the list during these 64 years. Yes, you read it correctly. Close to 90% have disappeared, and only 10% survived. Did those 448 companies not have thoroughly analysed, calculated and formulated corporate strategies in place as well as meticulously detailed plans for how to succeed in the future? Of course, they did. But. As in a big but.
For many, it ended up being the most extreme desktop exercise of the decade. Many of them stumbled along the road to transform their strategies into reality and to adapt to the unknown that suddenly came creeping up on them such as increasing complexity and speed, market disruption and other more successful players as well as innovation’s increasing dominance over efficiency and control.
Embarking on and succeeding with a new strategic journey, which in essence means you aim to create a different future and different results, require people to act differently. In turn, to act and behave differently, people need to think and wire their minds differently. Chances are that nobody has ever been exactly where you are heading. Not you. Not your employees. Probably nobody on this planet.
More than ever, we get approached by executives who have come to a crucial realisation: that the most definitive factor to succeed with their strategy is to equip their people to deliver on it. That we need to develop people to develop business. That the gap between the areas of strategy and leadership has to be closed once and for all.
When it comes to equipping organisations and leaders to become fit for the future, there is a growing realisation that change transformation and leadership development – as we have known them for decades – are not delivering the expected impact.
The yearly global spend on leadership development initiatives amounts to a staggering USD 46 billion. With that sort of investment, CEOs should expect a rock-solid return on investment. So, is there? Not even close. Only 7% of executives believe that these initiatives effectively develop their leaders to steer the company into the future.
Here are three reasons why:
#1: The absence of humans
#3:Chasing negative return on investments