Business Leadership in the Era of Disruptive Technology
In the fast-evolving world, change is like a routine. Especially, people at higher positions face the most wind from the storm of sudden shifts. Fortunately, most business leaders are well equipped to face the challenges and turn them into opportunities. The luxury of being at the top is not as simple as we see it from outside. Business leaders undergo tremendous pressure from various situations; still, make it to the end mark with confidence.
One such hard time was the year 2020. Even though the uncertainty in the pandemic year taught us to be patient and move on with technology, it did not go easy on business leaders. Remember the time when physical office spaces were shut suddenly because of the increasing number of infection and all the employees were asked to pack and go back home safe? It was harder for business leaders to mitigate the time of crisis and straighten the curve the lockdown has created. However, company executives didn’t give up; they rose above and conquered the troubles. The first thing that stroked them hard was the compulsion to adopt disruptive technologies. Companies that shared files in print form moved to cloud and teams that held meetings in the meeting hall shifted to virtual rooms. Even though this sounds simple, company executives had to work hard to make these shifts effective, without impacting the workflow and revenue.
According to a report, more than six in ten global CXOs believe that disruptions similar to those seen in 2020 will continue into the future. Technology is invading people’s daily life more rapidly than what studies anticipated earlier. Companies that still follow traditional means of working are envisaging the horror of shutting down. However, when contemplating the pressure to embrace technology, fundraising and hiring the right talents can be scary. Business leaders are put in a tight spot to overcome both mutually. Securing funding is naturally the first hurdle, but building a cohesive and knowledgeable workforce is the cornerstone for stable growth and not so easy to achieve. Business leaders can tap into a range of targeted communities in business and personal networks, which they can harness to open up access to the entire ecosystem of fundraising and right hiring.
At the bottom line, implementing technology and any other new thing in a company space is considered as a cultural change, it is a cultural problem. Leaders are more or less responsible for the culture of their organisation. They should emphasize a workplace that is diverse and is ready
to accept new things. Even though when leaders’ ideologies differ from that of certain or many employees, they should lend their ears to hear their views and neutralise the argument before coming up with ‘yes’ or ‘no.’ Empathy is also an important leadership quality that executives should possess in order to climb along with employees. Even big leaders like Henry Ford and Steve Jobs followed the empathy lesson to overcome insurmountable obstacles, counter strong detectors and realise success.
When things are moving faster than predicted, the business leaders’ seat becomes more burdening. As people run after comfort and money, the world is left with issues like climate change and environment sustainability. World leaders are making promises to turn the world greener in the upcoming years. But it is not possible without the help of company executives who should also promote environmentally friendly products to consumers. A lot of governments across the globe are choosing big organisations and their leaders to execute their ideologies on environmental challenges.
In a nutshell, the position of a business leader involves sophistication, luxury, joy, power, decision-making authority, hectic situations, unsolvable problems, critical challenges, etc. Leaders should take all these equally and react according to the scenario they are in. An impactful business leader should wear the crown of both success and failures they faced so far, and head towards the aspired destiny.