Many firms have leaders with strong operational skills. But maintaining status quo is hardly the aim. The key to success is effective change management. This is because most organizations are facing a situation where companies have to transform themselves in order to do business. Every enterprise is facing its share of challenges. The IBID acquisitions team focuses on creating a talented work team that focuses on acquiring know how and possessing the experience and confidence to solve a problem. A 2015 PriceWaterHouseCooper study found that strategic leadership is the key to organizational success, but few corporate managers are actually effective at leading and initiating such transformations.
Developing Strategic Leadership
For growing the capabilities of workers, inculcation of leadership traits forms the core of the IBID acquisitions strategy. Skilled leaders challenge the existing view without initiating cynicism or outrage, and can act on short term exigencies as well as the long term picture so that chosen paths turn out to be correct. Course correction as well as leading inquiry and advocacy, engagement and command emerges from a strong leadership. In the course of transformation marked by technological breakthroughs, financial crises, major global forces and demographic transitions, the leadership skills required to succeed must also evolve.
Given that senior leaders need to manage large scale transformation, in-house leadership development is a must. IBID acquisitions succeed because change is managed from within and leaders are encouraged to grow. Companies that seek to build strategic leadership need to recognize that the organization has strategic leaders within it whose skills are in need of nurturance. In leading companies, the aim is to enable those who demonstrate superlative performance, abilities to solve problem, and think outside the box to excel further.
Developing Strategic Systems and Structures
Unlocking the potential strategic leadership in the enterprise involves a combination of the hardware (organizational systems) and software (individual capabilities) of transformation and evolution. Attracting, developing and retaining strategic leaders is high on the agenda of the IBID acquisitions team.
Strategic leaders gain skills through autonomy and push power downwards, across the company. This enables people at different levels to make the decisions. Potential strategic leaders see opportunities where others see risk. They excel at collective intelligence, resilience and adaptability, harnessing the wisdom of those outside the tradition decision making hierarchical structures.
Honest and Open Channels of Communication
Management adopted by large organizations focuses on creating power structures based on information. Information equals power in such organizations and unfortunately, limits the decision making capacities of those at different levels, leading to less than optimal performance. The IBID acquisitions team focuses on the democratization of information and going beyond the need to know basis limitations and restrictions.
Certain competitive secrets may need to be confidential, but employees require more base information if they need to succeed in becoming strategic leaders.
Open channels of communication foster conversation about the value of information and the improvement of everyday practices. If information is concealed, manipulation results and the chance for developing strategic leadership is lost. Strategic leaders work on sharing information for creating new avenues for growth.
Testing the Waters
Creation of multiple paths for the raising and testing of ideas is a key skill that needs to be fostered for strategic leadership. The ability to connect ideas to the way enterprises create value is important. Bringing innovative thinking to the surface can help in initiating creativity. Common channels for new ideas need to be nurtured. The best opportunities can be lost through noise. Creating channels for innovative thinking involves cross functional skills. Promising thinkers and leaders are mentored by the IBID group for sharing the knowledge of new technology and collaborating with established groups.
Making it safe to fail is also a means of ensuring that employees learn from their errors and develop strategic leadership skills. In fact, catching failures early is a valuable skill to cultivate. Strategic leaders cannot only learn from efforts that succeed. They need to acknowledge failures as stepping stones to success as well. Managing the tensions stemming from uncertainty and change management is the core skill of a strategic leader.
Providing Access To Strategic Skills
Giving potential strategic leaders the chance to meet and work with peers is important. Otherwise, they remain isolated and cannot grow as leaders. Knowing the right questions to ask can be as important as solving them. Thinking and operating in silos has negative consequences for the wider organization. Those with a predisposition to challenge the status quo succeed in bringing about the change needed for progress.
Experience Based Learning Grows Skills
Developing opportunities for experience based learning is important. The IBID expansion team encourages information acquisition and experiential skills building. Strategists are encouraged to have the experience to live up to their potential.
Bringing together strategic leaders to develop new critical capabilities, the IBID team encourages the strategic leadership to grow. Hiring for transformation, it focuses on an acquihire strategy to nurture and grow existing talent.
Strategic leaders know that tackling the most demanding problems and situations involve drawing on all learned in the course of their experiential transformation. Tapping the full set of capabilities, interests, passions and experiences to come up with innovative solutions should be the focus for evolving home grown strategic leaders. Creating an authentic and honest environment for growth is the hallmark of a strategic leader.
Thinking in depth about the situations and problems arising from it and about the situation in terms of biases and assumptions is important. Strategic leaders view leadership as an ongoing practice. Encouraging natural leaders to develop a thirst for learning can lead to evolution of organizations. You need to work on not just yourself as a strategic leader, but also cultivate opportunities for others. This forms the core of the leadership and employee development programs at the IBID Group. The investment group believes in investing in people, not cash machines. This forms the essence of an investor-investee relationship based on growth that is stable and value creation that has positive implications for the wider industry as well.