Leadership Reflections - Marine Money...Leadership Reflections Leadership is relational! - And...
Transcript of Leadership Reflections - Marine Money...Leadership Reflections Leadership is relational! - And...
Leadership Reflections
MARINE MONEY
“Talent got you in the door,but character will keep you
in the room”John Wooden
Concepts we’ll Explore…
1. Evolving ideas about “the purpose of business”
2. Disruption, disruption everywhere
3. 21st Century Leadership
In 1970, Milton Friedman said………
“Businesses’ sole purpose is to generate profit for shareholders”
August 24, 2019
Why is this an important issue for us to understand?
Millennial Generation – why they matter
Now largest demographic group in US, eclipsing Baby Boomers - 77 million strong The most diverse adult generation in US history – 44% minority composition 25% of US population 30% of voting age population 40% of working age population Higher education attainment versus every other generation Slower than earlier generations to marry, have children, leave parents Establishing new norms - Cultural; Societal; Technology Use; and Lifestyle
Millennial Generation – why they matter
Who are the Millennials? – everyone between ages of 17 and 37 Over 77 million strong, the largest in the US – have now eclipsed the baby boomers The most diverse adult generation in US history – 44% minority composition 25% of US population 30% of voting age population 40% of working age population Higher education attainment versus every other generation Slower than earlier generations to marry, have children, leave parents Establishing new norms - Culture; Societal stewardship; Technology application; and Lifestyle
Millennials will be the economic drivers of the
developed and developing world for the next half century
The new role of Companies:Understanding the expectations of many stakeholders
Business leadership and societal stewardship are now viewed as interdependent
The next generation of leaders will:
Be held to a much higher ethical standard;
Operate in a real-time world that demands greater visibility;
Need to comport themselves with a much higher degree of transparency
Disruption
What is disruption?
Future Needs
Disruption
Current Pain Points
What is disruption?
Future Needs
Disruption…… ……OPPORTUNITY
Current Pain Points
Disruption is the new normal…….
The world’s largest taxi company owns no taxis (Uber)
Largest accommodation provider owns no real estate (Airbnb)
World’s largest movie house does not own or operate any cinemas (Netflix)
The most popular media channel creates no content (Facebook)
World’s most valuable retailer owns no inventory (Alibaba)
Largest software vendors don’t write the apps (Google / Apple)
Largest phone companies own no telecom infrastructure (Skype / WeChat)
Fastest growing banks have no actual money (SocietyOne)
Welcome to the Fourth Industrial Revolution
Transformation Efforts:
How does Travel, Transport and Logistics fare versus
other industries?
We are laggards!
The Gartner Transformation Model versus our reality….…
Most Transport, Logistics and Supply Chain firms are firmly stuck in RUN
Share conquest and cost mitigation schemes do not constitute as GROW initiatives
Technology adoption, product & process innovation, and industry consolidation are all needed to position for future sustainability
Supply Chain Providers
………..
Nearly every business model will be disrupted within the next ten years…....
What are disruption’s implications for your business?
Gartner’s “Run, Grow, Transform” model – where is your company?
Data is the new gold! – How will your company leverage its data?
21st Century Leadership…..
The “Tide” of a Company rises, and falls based on
its leadership
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The only thing great leaders have in common is they are not perfect human beings
What matters most is being Authentic
21st Century Leadership = Authentic Leadership
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Leaders inspire individuals and have a huge impact on team success
Leaders clarify structures, opportunities and challenges
Leaders exemplify cultures and excite people to exceptional performance
What is the role of a Leader? 3 things………
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The Goal: Growing high performance environments is the ideal
leadership goal
The Expectation: A leader’s job is to run a high-performance group -
no matter the condition of the world around you
Goals and Expectations
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How should we understand leadership? – 3 axioms:
o Leadership is: Relational Contextual Non-hierarchical
Understanding Leadership
Separating Fact from Fantasy
What leaders at the top think their people want………
Capacity to develop strategy
Ability to work with a variety of people
Early responsibility for important tasks
Strong achievement goals
Early leadership experience
Experience in business functions
Integrity, trust, concern for people
What a leader’s followers actually want.........
Community Significance Excitement Authenticity
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Leadership Theory
Trait Leadership Focuses on a leader’s personal qualities and characteristics
Suggests leaders are born with natural skills and abilities –
There is no scientific evidence
Behavioral Leadership Suggests that leadership qualities are learned
and obtained through focus and experience -
Believe it!
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Leadership Reflections
Leadership is relational! - And contextual and non-hierarchical too! 20 / 60 / 20 Rule
Best People versus Best Team Can you really say “we have the best people”?
The paradox of great team building is it excludes others Communication is the solution
Communication is essential – choose a channel Principles of respectful communication - Great leaders tell less and ask more
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Values truly make or break a person - and a career
Trust is Everything! - without trust, there is no experimentation Companies that have trust outperform their peers by 93%
Treat smart people as smart Find out what people are good at and let them do it
Trust and Integrity sets the tone
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Revitalizing organizations has little to do with changing people You must change the environment, the context, the attitudes
Making sure people in the group feel valued is the #1 objective in managing an environment
Your intentions don’t matter, only your actions
EQ is essential – sensing and assessing situations is a critical skill
Managing the Environment:Tending to your Company’s Culture
21st Century Leadership is all about Authenticity
Another Reason to Help Employees be Authentic at Work
“People want the freedom to be their authentic selves at work.
Research shows authenticity encourages ethical behavior. When people feel that their professional responsibilities align with their personal values, they’re more likely to act in ways that support those values (and vice versa)”
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Authentic Leadership - What’s the recipe?
Be yourself, more; and do it with greater skill