Stakeholder capitalism and ethics in the modern era
When it comes to business, the fundamental belief of every successful organisation has been to focus on innovation and reinvention. The age-old adage ‘new is always better’ runs through the veins of executives in every sector.
There is enough evidence to prove this theory works. Countless companies have exponential profitability using this strategy. Netflix is a prime example of successful, continual, metamorphosis. They have grown from strength to strength using the Milton Friedman approach. What was once a DVD delivery service evolved into a streaming service and then began creating its own content – much to the chagrin of movie studios across the globe.
But no matter what kind of service Netflix provides, the ultimate focus of the company is to make shareholders more profit. Capitalism at its finest. But is there a better approach?
What is stakeholder capitalism?
Stakeholder capitalism, a management strategy that makes stakeholder interests its primary focus, has made a surprising return to the corporate world.
Once popular in the 50s and 60s, the social capital system sees the customers, suppliers, shareholders, and local communities as the key stakeholders. The motivation behind the company’s actions and activities is to provide long-term value for stakeholders.
This model has had its fair share of success in many European markets and has gained momentum in very important circles. At a panel discussion at Davos 2020, Kevin Sneader – Global Marketing Manager at McKinsey & Company – boldly stated that the responsibilities of a business are to give back to the community and enrich everyone. “And I think we lost our way a little bit in forgetting that,” he said.
Salesforce – a longtime proponent of the stakeholder capitalism ideology – has been voted one of the Great Places to Work for three years in a row while projecting $28 billion in revenue by fiscal 2023.
Chairman and co-CEO of Salesforce, Marc Benioff, shared his insights on their successful business model. “Capitalism, as we know it, is dead. The new capitalism is that businesses are here to serve their shareholders, but also their stakeholders — employees, customers, public schools, homeless and the planet.”
Why the change to stakeholder capitalism?
Climate change has been a real game-changer for how companies operate. Humanity can feel the clock counting down to an environmental disaster. The founder and executive chairman of the World Economic Forum, Klaus Scwab, is another long-time advocate of stakeholder capitalism.
“People are revolting against the economic ‘elites’ they believe have betrayed them, and our efforts to keep global warming limited to 1.5°C are falling dangerously short.”
These sobering words are perhaps just the jumpstart executives need to begin aligning company policy with what benefits the most people.
How to adopt stakeholder capitalism:
While companies may need some time to untangle from the traditional capitalism web, these are some suggestions on moving towards a shared value, social capital approach:
Paying fair wages
Reducing the CEO-worker pay ratio
Ensuring safety in the workplace
Giving workers time off to support causes they’re passionate about
Avoiding tax loopholes
Providing good customer service – customer centricity is key
Engaging in honest marketing practices
Investing in local communities
Preventing environmental damage
Prioritising ‘doing good’ as a business imperative and ongoing KPI
Conclusion:
For a more comprehensive study in an advanced setting, sign-up for the Senior Management Development Program which develops a strategic leadership mindset. Invest today in becoming a transformational leader who prioritises shared value practices – to the benefit of shareholders and all other, equally important, stakeholders.
The world is adapting to some rather strange times. Social distancing, self-isolation, and panic purchasing are concepts that humans are getting familiar with as our new reality. And in these times, there are companies that will rise up to the challenge of not only meeting, but transcending customer expectations through unparalleled customer service.
Local small businesses and grocery stores have decided to assist some of the more vulnerable shoppers with pensioner shopping hours. Every Wednesday, shops like Pick ‘n Pay are planning to open an hour earlier to allow the over 65s an opportunity to grab essentials without the risk of being exposed to a large number of people. This shows compassion and proactive customer centricity at its best.
When implemented well, this kind of customer-focused strategy can foster goodwill, builds brand loyalty, and aligns a brand with being a caretaker of its customers – not just a big corporation focused on profit. Denise Lee Yohn of Harvard Business Review believes that many businesses shy away from this kind of thinking because of a lack of customer-centric organisational culture.
In fact, the Chief Marketing Council (CMO) recently reported that only 14% of marketers say that customer centricity is the hallmark of their companies. But, increasingly, businesses are being called to promote a philosophy of shared value and giving back. Those that go above and beyond to put the customer first are seeing phenomenal growth. Just think of Amazon.
Here are a few ways to orientate your business with this model that are simple and incredibly effective.
6 tips to embrace customer centricity:
Be a customer
Take an honest look at what the customer experience is like from the moment they arrive at the curb outside your business until they arrive home – or from the second they land on your site, right up to check out and delivery.
How are the interactions? What is the tone? Is it meeting the customer expectation? Create a strategy that is simple and flexible to meet needs at every touchpoint. If you’re not sure what your customers want… ask them!
Be purposeful
Let every connection be focused on the same vision. If you want a family-friendly environment, are you making your business feel safe and inclusive?
If you want working singles, do you offer fast, easy options?
Be proactive
Our world evolves at the speed of light so you need to ensure that the way your company operates can accommodate change effectively. What is working this morning might not work this afternoon. Keep asking “What can we do better?” and “What are we doing the best”?
Be empowering
It is essential to hire the right people. And it is equally as important to learn from your employees. In most cases, they have the first engagement with customers, so they know exactly what works and what doesn’t.
Listen when employees talk. But also create a customer relations process where they see their ideas in action.
Be data driven
Every digital experience gives you information. Most companies do not know how valuable this information is and keep it stored away. With the right tools, you can translate data into pure knowledge that will help you coordinate a better customer experience.
Your current customers are your best resource for getting new customers. Remember, it’s also pivotal to communicate how you’re actively safeguarding your customers’ information.
Be educated
With an abundance of opinions and strategies available on the internet, it can be difficult to carve out the right strategy for you and your management team. That’s why the right continuing education can propel your company to a newer, better mode of operations.
Conclusion:
Enrol in our customer centric management programme to set a steady foundation of how to prioritise your clients in everything you do. Customer satisfaction is a moving target and requires constant innovation. Businesses need to continually educate in order to innovate. USB-ED has curated the best strategies for sustaining and evolving a customer-centric organisational culture
Part of the Lessons from Extraordinary Leaders series
The mass activism around climate change is catalysing a global conversation about sustainable development. Businesses are expected to be bastions of morality and advocates for social good. That means making a difference has become a business imperative and ongoing KPI.
Just pursuing profit doesn’t cut it anymore. Companies need to be doing their bit to save the world as well. That means setting company goals that align with the Sustainable Development Goals (SDGs)
As part of our lessons from extraordinary leaders series, USB-ED is shining a spotlight on some global and South African leaders who are pushing sustainable business agendas. As a leader, championing sustainability is crucial to a company’s longevity and relevance. Customers want to do business with brands that genuinely care. Here are a few of the ‘good ones’ getting it right.
Who are sustainable development leaders in business?
Engie:
President and CEO Gwénaëlle Avice-Huet has helped the North American arm of the business transform. With an advanced degree in molecular chemistry, she’s actively advocating for subsidies to drive new, greener technologies like biogas. She’s also all about sharing her company’s data regarding its innovation wins. Engie’s French wind farm was the world’s first to open its data up to scientists in order to optimise operations.
The take-out? Many businesses closely guard their data – which is completely understandable. But so many exciting advancements can be made through a collaborative, open-source approach. By sharing knowledge, we can accelerate the pace of ushering in sustainable, human-centric advancements.
Founded by award-winning engineering entrepreneur Vere Shaba, this South African business is all about making skylines greener. Committed to advising companies on how to design green, energy- and water-efficient buildings with low waste, Shaba and Ramplin is helping to put lasting sustainable solutions in place. Recognising that Africa will be home to unprecedented growth and urbanisation, it’s looking for ways to amalgamate the required construction with the preservation of the natural environment. It’s taking environmental awareness to new heights.
The take-out? It’s about creating sustainable solves to the real collective challenges that society is facing. Africa is already a growth hub. The need for continent-wide construction is inevitable. So, what sustainable interventions can we put in place?
IKEA:
CEO Jesper Brodin is dedicated to helping people create their dream homes in a way that doesn’t take a big toll on the wallet or the planet.
He sees sustainability as an absolute imperative – from IKEA’s trendy couches to tasty vegan hotdogs. He believes customers are demanding businesses to demonstrate commitment and leadership when it comes to treading lightly on the earth. So, he’s answering the call.
IKEA wants to be carbon positive by 2030. It already produces more renewable energy than its operations demand. And it intends to roll-out electric vehicles for deliveries by 2025.
Plus, it’s in the process of phasing out single-use plastic. It’s a business that really does seem to be pursuing the SDGs.
The take-out? It’s about knowing the customer of today! People are educated and informed and they want decisive leadership action from the businesses they support. Leaders need to stop underestimating their clients and realise that by not putting a line in the sand and actively changing their operations for the better, they’re going to lose customers to those that do.
Conclusion:
Enrol in USB-ED’s course on strategy execution to start proactively strategising on how to introduce more sustainable measures into your business. Now is the time for leaders to lead the charge on sustainable development and protect the planet. We need decisive action more than ever before.
According to a report by Challenger, Gray & Christmas, 1640 CEOs left their roles in 2019 – reflecting a 12.9 percent increase from the year before. Of the departed, just 395 leaders retired unremarkably, leaving in good stead. This demonstrates the need for organisational checks and balances to keep CEOs accountable.
The question of who leads the leaders is a pivotal one. The old adage holds true – the fish rots from the head. So, it’s imperative that policies and people are in place to stop the earliest hints of a leader going off track.
For CEOs, these checks pose an equal opportunity for growth. Being accountable should come with continuous feedback, mentorship and a team of trusted peers to turn to. Ultimately, businesses can live and die by the public perception of a company’s CEO. Here are four ways to ensure that a company can keep its leadership accountable and flourishing.
4 effective ways to hold leaders accountable:
Board Engagement
The board is vital in keeping the CEO accountable. Its role has evolved to play a pivotal part in corporate governance, which extends to helping to define company culture. That means boards have more of a say in defining an organisation’s behaviours and norms – including the actions of the CEO. An interesting question that can emerge from this is how much knowledge a board should have of a CEO’s personal life.
Corporate governance expert and Stanford professor, David F. Larcker, sees a direct correlation between divorce and the exit of a CEO. “Most of the divorced CEOs were long-tenured at the time of the divorce. Yet within a year or two after the divorce, they are gone.”
While a messy divorce shouldn’t necessarily be a board’s concern, Larcker warns that there can be financial implications of a divorce that have a major impact on a company. “The ownership of equity can change (during a divorce). All of this has consequences a board must be attuned to.”
It can be incredibly important for a board to keep a watchful eye while not overstepping the mark. Larcker insists prevention is better than cure. “The main thing is to have the talk upfront rather than after a difficult situation has emerged.”
Peer Management
According to Mckinsey and Company, successful CEOs must learn to operate vertically as well as horizontally.
“Organisation theory suggests that managing upward and sideways is good for both the company and the individual leader’s career: CEOs need the insights and pushback of trusted executives to help sharpen strategy.”
Allowing the functional leadership to be comfortable to provide criticism without implications will allow lateral feedback that can be constructive and prevent disaster.
Thomas Barta and Patrick Barwise did extensive research for Mckinsey and discovered the profound impact that senior executives make when engaging on a peer level. When these executives work towards mobilising their bosses and functional colleagues the benefits are clear.
“Taken together, these upward and horizontal actions were about 50% more important than managing subordinates for business success (45% versus 30%) and well over twice as important for career success (47% versus 19%),” confirm Barta and Barwise.
Being able to operate vertically for C-suite executives can be as simple as engaging with colleagues in a less formal setting or working together to develop a new strategy.
To create an open upward operation, the CEO has to initialise this process by ‘leading from the front’ to make it comfortable for others to reciprocate. Barta and Barwise recommend showing a personal touch to bridge the gap.
“Lead from the font with an inspiring story to win the hearts and minds of colleagues, including those who don’t report to you, with a clear action plan to deliver tangible results.”
With their research showing declaring a 10% impact on business and a 20% increase in career success, it undoubtedly benefits CEOs and functional leaders to keep these channels of communication open.
Reflection
Price Harding, a founding partner of CarterBaldwin Executive Search, believes that the ability for self-governance is the single most important trait of the CEO. A CEO needs to constantly be evaluating what he or she can do to improve individual performance – and that of the company.
This means continuously appraising how one is measuring up to KPIs in every sector of the business – from operations and finances, to people and culture. If a CEO believes he or she is still beneficial to the business by being in the role, then it’s imperative the person keeps retraining to stay relevant and inspired.
This kind of introspection can be hard – especially if the outcome is that a CEO finds that they are not the right fit for the company.
Bad behaviour will not be tolerated
The hardest path to traverse for any company is when the CEO does not act in the best interest of the company and there is no opportunity for all other employees to keep their leader in check. Providing a safe place for the entire company to share their concerns can be crucial to keeping everyone – but especially leaders – responsible for their actions.
Building a culture where there is the freedom to report inappropriate behaviour means that CEOs can be held accountable by everyone in the company. Knowing that there are no fallouts for sharing an inappropriate interaction means that no one is above the company rules or laws.
While the departure of leadership based on harassment claims has been minimal, the #MeToo movement has undoubtedly played a key role in what employees and shareholders will tolerate from the leadership of organisations.
In order to sustain proper ethical checks and balances, a comprehensive whistle-blower policy needs to be enforced. At SHRM, a membership-based Human Resources portal, this kind of document ensures that anyone who comes forward to report irregular behaviour knows they are doing so in complete confidence with no threat of retaliation.
This kind of trust within a company must be infused into the culture and can never waiver. If one whistle blower steps forward and is subsequently terminated or demoted, this will stand as a warning to anyone wanting to step forward.
Conclusion
By enrolling in USB-ED’s Executive Development Programme, you will be able to employ adaptive thinking, creative cognitive strategies, and include global trends that are essential in today’s ever-changing landscape. This insight shows the importance of continuous education and upskilling for existing and developing leadership to remain knowledgeable and relevant in their business sectors.
South Africa, like many countries around the world right now, is in lockdown. Set to last for a 21-day period, it’s an admirably decisive move from the presidency. When we emerge from it, it’s difficult to predict just what the country – and the world – will look like.
To state the obvious, it’s a period of profound uncertainty with enormous economic consequences, especially in a country like South Africa, with such vast income disparity. Business interruption is inevitable. Projects will also have to be managed radically differently – or stop for now. It’ll take a coordinated effort from the top to manage change effectively.
One of the biggest issues will be resources. The ‘laws’ of the lockdown give very few industries and professionals licence to move freely. For project managers, it’s likely most human resources will be unavailable and supply chains may stall. It’ll be imperative to keep adjusting the project plan to align with new developments.
Here are some of Harvard Business Review’s (HBR) recommendations for leading a business – or a project – through the coronavirus crisis.
7 tips to embrace effective change management
Keep your intelligence up to date:
HBR recommends having one working doc the entire team has access to that’s updated daily – or even hourly. This needs to summarise the latest facts of the crisis from trusted sources to give the best current view of the situation. The same document should outline the top-level project plan, which will need to be fluid and shifting to align with and anticipate new developments.
Beware of hype:
It cannot be emphasised enough; an unprecedented global pandemic is an incubator for fake news. Ensure you vet information thoroughly.
Understand the regulation:
This will be changing all the time. Make sure you update the working document with the regulatory and bureaucratic developments pertinent to your project.
Assemble a team:
You need a core team of agile problem-solvers who can come up with quick solves and have ownership of the change management process. Give them the power to make rapid tactical decisions to improve your project’s ‘evolvability’.
HBR says this term refers to a business – or project team’s – ability to continuously, iteratively improve as new problems, opportunities and information emerge. Then the team will need to remobilise around the results of the iterative micro-innovations.
So, if a small change is trialled and improves a project, it’ll need to be integrated into the system of working. Another top tip from HBR? You need a cognitively diverse team! It’ll take more than a one-dimensional approach to come up with creative project solves.
Get the basics right:
For HBR, this means catering to employee needs, travel needs, facilitating remote work, stabilising the supply chain, and tracking and forecasting the project’s results through rapid reporting cycles. By continuously measuring results, a project leader can quickly spot issues and input mitigation measures to help catalyse quick operational recovery.
Learn, learn, learn:
If a project does have to be temporarily stalled then it’s an ideal opportunity for team members and leaders to up their skills through an advanced project management course. This could instil key capabilities and strategies to add value and perspective when a project recommences. It’s also wise to note down behaviours during times of stress. These learnings could be invaluable and could feature as part of future project management plans.
Be part of the solution:
How can this project have a very real positive impact on society? How can it be used to support others through this crisis? What small adaptations can be made to benefit the community? Now, more than ever, it’s crucial to live one’s purpose and give back in meaningful ways.
Conclusion: Enrol in USB-ED’s Project Management course for key insights into enhancing project planning capacities amidst the coronavirus crisis. The coronavirus is unchartered territory for everyone, which means every business leader and project manager will need to carve out new ways to foster continuity, survival and success. Having a strong change management process in place is crucial.
As the novel COVID-19 coronavirus continues to spread across the globe, this past week saw numerous op-eds in the United States’ media questioning the ability of President Donald Trump’s administration.
In fact, The New York Times published a piece criticising Trump’s lack of management skills in being able to contain the pandemic, despite warnings from the World Health Organisation (WHO) and other public health experts. The unprecedented pandemic is calling for next-level leadership qualities. Right now, the public is looking for decisive action and reassurance.
In critical moments like these, many business leaders have stepped up, filling the national leadership void that politicians once claimed as their own. Instead of waiting for government directives, myriad businesses – in South Africa as well as the rest of the world – have instituted work-from-home policies, temporary shutdowns or altered in-store and in-office services.
A crisis often forces executive leadership to forego conventional operations. As the COVID-19 pandemic is a global concern, it requires a networked response that combines communication, trust and proximity, say CEO and retired general Stan McChrystal and former US Navy SEAL Chris Fussell. Here are six ways leaders can display good leadership qualities during the COVID-19 pandemic to prioritise a team’s wellbeing, client-centricity and business continuity:
6 leadership qualities that matter during stressful times:
Communication
Although working remotely has been an option for many people for a while now, coordinating projects and other operations around individuals that are geographically dispersed can be tricky.
While software such as Google Hangouts, WhatsApp, Monday.com and Slack allow people to stay connected, there’s nothing quite like doing a quick office poll or getting ideas over a morning cup of coffee. Without these interactions, it’s important for leaders to regularly and effectively communicate with the organisation, advises CNN Business.
To ensure the transition from office to remote work is smooth, share information and decisions on adaptable processes and behaviours before the shift takes place. Then ensure there are daily check-ins via a stipulated shared communication platform like Microsoft Teams.
Setting achievable goals
Setting goals is nothing new. However, as COVID-19 affects the ways in which businesses operate, it’s important that leaders are honest about what is achievable in the coming weeks or months in order to manage stress.
This may mean that the huge conference a team has been planning might need to be conducted via video instead or that a collaborative project may need a longer timeline in order for everyone involved to be consulted, all of which could leave employees feeling unmotivated or confused.
By consistently setting measurable and achievable goals for a team or organisation, a leader sets an example for their employees, says AboutLeaders.
Making adjustments when you can
Amid the chaos, there have been some beautiful examples of communities coming together. The rallying cry to support the small business sector in South Africa has been particularly heart-warming, with numerous influential people publicly choosing to buy local.
Many small businesses, in turn, are adjusting their offerings to be more online and delivery focused. Several restaurants are now making meals for home delivery to adapt to the current plea for social distancing. They’re also using typical South African humour to brighten people’s days.
For example, Sweet Lionheart – a cake shop in Cape Town – is making #socialdistancing cakes iced with messages like ‘be wise, sanitise’ to give loved ones something to smile about. The ability to adapt and spot opportunities to support the community are defining leadership qualities.
Managing expectations
As with any crisis, there are many constantly changing variables. COVID-19, which originated in Wuhan City in China’s Hubei province, is now more of a threat to Western countries such as the US and Italy. Both these countries failed to act quickly in the face of a looming pandemic.
In South Africa, however, President Cyril Ramaphosa and his cabinet moved quickly to enforce international best practices for tackling the pandemic – but only where it made sense in the context of a country that has a large economic disparity, reports the Daily Maverick.
In addition, the government is also actively engaged with the private sector on ways to relieve the pressures on the economy and healthcare systems. By leading with confidence and positivity, the president and his health minister have conveyed the seriousness and potential impact of the crisis.
Sustaining productivity by being positive
We’ve previously mentioned how the most successful leaders earn respect by involving everyone in the process before coming to a key decision.
One way of doing this is by putting people closer to the problem – and remaining positive in critical situations. Forbes suggests soliciting advice or brainstorming together, which can even be done via a Skype or Zoom call when people are working remotely. A leader’s positivity will rub off on their team, potentially influencing their productivity and willingness to problem-solve.
Managing stress and mental health
How do you handle stress and pressure?
Leaders should first ask themselves this and then ask their teams. Everyone handles anxiety in a different way and it’s important to be cognisant of this – especially when facing a pervasive pandemic.
Leaders can play a significant role in helping their team members deal with stress by being empathetic and understanding, allowing time for relaxation and meditation, and facilitating flexible practices – like the option to work from home.
It’s imperative those at the top put their people’s wellbeing first, which could also mean training on best COVID-19 safety protocols, the provision of protective clothing and equipment, and stringent hygiene measures. Maintaining a calm, in-control demeanor will go a long way to making a team feel reassured.
Conclusion:
Enrol now in USB-ED’s Executive Development Programme (EDP), if you are interested in becoming a leader that makes a difference. The course will prepare senior leadership with the management skills to guide their organisation and employees through the most turbulent of times.
USB-ED is fortunate to have access to more than 300 part-time faculty, consultants, business leaders and industry experts who facilitate on our programmes.
What is the toughest leadership challenge businesses face today? To be okay with being very unsure (of everything)
What is the most valuable lesson you have learned from a student to date? To never stop learning – we had a 76-year old student last year!
Who inspires you and why? Two big men in my life – my dad and my husband and for the same reasons. 1. They are willing to think with me and distill some sense-making about any possible topic. They are my favourite soundboards. 2. They are the most modest people I know; will never try to ‘impress’ you with what they know.
What attracted you to work with USB-ED? The people in the room. We have the most exciting people on our courses and a LOT of learning happens through insights shared during the facilitated sessions
Do you have a mantra or slogan that you live by? Be honest. Always.
What career advice would you give yourself looking back to when you started out? Don’t listen to the critics that could not understand your career path. It only has to make sense to you.
Tell us about a book you have recently read? See Sooner, Act Faster. George S Day and Paul JH Schoemaker created a piece of work that should be on the desk of every decision maker in any kind of organisation. The whole book is about vigilance, or the lack thereof. Day and Schoemaker described different aspects of vigilance as a collective capability that an organisation can and should develop.
It is common knowledge that currently every aspect of life, be it business, politics, society, and organisations in society, are being exposed to volatile changes and challenges. How does one manage the organisations and institutions in a volatile environment? Drucker (2002) describe the volatile environment by referring to, amongst others, two important aspects, namely the next society and the way forward – how to manage in this volatile environment.
According to business and management analysts, facilitators, consultants and practitioners, every aspect of life, be it business, politics, society, and organisations in society, are being exposed to volatile changes and challenges – volatile in the sense that nothing is predictable or cannot be predicted in terms of the next level of changes and challenges. The question however is: What are these changes and challenges and how does one manage the organisations and institutions in a volatile environment? There may be many suggestions to manage these institutions in a volatile environment, but it is perhaps worthwhile to consider Peter Drucker’s suggestions in his book: Managing in a modern society (2002).
The author, Peter Drucker (2002), describes managing in the next society by referring to the following changes and challenges: information society, new business opportunities, the changing world economy and the next society. He identifies the following reasons which contributed to the volatile environment in general, namely, the exploding world of the Internet, from Computer Literacy to Information Literacy, the CEO in the New Millennium and the Next Society. For the purpose of this article it may be worthwhile to revisit Drucker’s discussion on two aspects, namely: the next society and the way forward.
Drucker identified a dominant factor in the Next Society – the rapid growth in older populations and the raped shrinking of the younger generation. Another dominant factor will be a knowledge society with three main characteristics: borderlessness, upward mobility and the potential for failure as well as success. The knowledge society will be a highly competitive society. Against this background it is important to consider the role and position of top management in companies. On the one hand it seems that top management is currently operating as an extension of operation management only. On the other hand, the jobs of top management should be to balance the demands on business being made for both short-term and long term results. However, it should be determined, amongst others, what management should do to be prepared for the changes and challenges of the next generation, the next society.
Aspects of the new society in which top management is functioning is, amongst others: new demographics, a country of immigrants, and the end of the single market, The New Workforce, and Will Corporation Survive?
Going forward? Bearing the aspects mentioned above in mind, the question may be asked: What are responsibilities of top management in organisations in this volatile environment going forward? According to Drucker the future of Top Management is vested in a balance of the three dimensions of the corporation as an economic organisation, as a human organisation and as a social organisation. He describes the way ahead for top management to focus in the following areas: The future Corporation, People policies, Outside Information, Change Agents, and big ideas to be competitive and successful in the new society.
How can top managers manage the future? To be able to manage the areas mentioned above in the future, top management should rethink, revisit, re-energise and revitalise the principles of management, their management approaches, skills, roles and functions. By doing this, top management should be able to determine why they manage their organisation, how they do it and what should be the results (Sinek, 2009). Another benefit of rethinking, revisiting, re-energising and revitalising the position and role of top management, could be that it provides opportunity to transform their organisations; to create new opportunities to adjust the way in which they manage their organisations: the changes and challenges of the volatile business environment. Furthermore, it will inspire employees to be part of the organisations and to develop amongst others, new institutions, new management theories, policies, functions, skills and roles to be able to manage the challenges in their organisations in the ever changing, volatile business environment – the next society.
In summary: Top managers should be informed regarding above-mentioned information to transform themselves from their operational role to a more exciting and creative role to restructure and revitalise their organisations; to focus on why the business exists, how do it survive and what are they doing to be able to manage the changes and challenges in the volatile environment – the next society successfully.
The experiences on the Young Minds 2019 programme have made a significant impact on my life.
These are the words of Kian Enslin, a 2019 participant on the Young Minds Programme of the University of Stellenbosch Business School Executive Development, or more commonly referred to as USB-ED.
Enslin was awarded the Young Minds Most Promising Entrepreneur prize at the 2019 awards ceremony, which was held in Stellenbosch at the end of November.
As part of his award, Enslin was sponsored to attend the Global Accelerator Programme and the UPitch 2020 – The Curtain Raiser for the iXi Summit 2020 in Haryana, India which took place at the end of January. The UPitch 2020 event brought together brilliant, young minds full of fiery ideas and each attendee was invited to pitch a business idea.
The participants, many of them who were visiting from South Africa, The Netherlands and Bulgaria in addition to their Indian counterparts (from Naropa Fellowship) had the opportunity to chat with Nitin Sethi, Vice President, Digital, Indigo Airlines, during the break which was followed by UPitch – The Pitching Competition. Here, 10 startups got the opportunity to pitch their ideas to a panel of mentors and investors.
Kian, Pitching his business.
“I had a lot of personal growth during the last year. On the tour, I gained a lot of knowledge about the business ecosystem of India and how I can apply new ways of thinking in my business. On the course, I had the best experiences during the business part of the programme. “
Enslin added that the programme helped with his ability to start his own business. “I gained the self-confidence to start and I registered my own company called ELux Projects & Property Management. I gained vital business knowledge that as set me up to know what to do before starting a business, the management thereof and setting yourself up for success. I have already started 2 projects.
“I am thankful for the experience USB-ED gave me was definitely one I will never forget.”
At USB-ED a Learning Process Facilitator (LPF) plays the vital role of mediator, mentor and advisor to participants and groups. Please let us introduce you to Kevin Henderson, USB-ED LPF and Integrated Learning Professional.
Tell us a little more about your professional experiences, particularly those not mentioned on your resume/application.
I started my working career as a Biology and Science teacher. I progressed into a managerial role as HOD for Natural Sciences. During this time I completed some part time studies and qualified as a clinical psychologist. This was prompted by my experience as a young teacher trying to understand young people. My training as psychologist later led to me becoming a school psychologist at the WCED and my career as public speaker, trainer and motivational teacher was launched. In my twenty year journey as a clinical psychologist I have become skilled at trauma counselling, conflict resolution, staff development and coaching. I work predominantly in the Employee Assistance space, which is characterised by Solution Focused Brief Therapy.
How do you define good teaching?
In my view good teaching should be learner centred and results in changed behaviour. The teacher acts as facilitator of the learning process, rather than an expert or authority of knowledge.
What do you think are the most important attributes of a good instructor?
Empathy, inspirational and risk taker, as you have to model this to the learners.
Share your ideas about professional development
Professional development is absolutely necessary. It’s the only way we can improve ourselves and make the world a better place. The value of professional development is best encapsulated through the words of John Cotton Dana, a public librarian, who said, “Who dares to teach must never cease to learn”.
How do you engage students
Through being actively engaged in the learning process. This very often depends on my ability to create an environment conducive to learning which is often characterised by joy, relief and non-competitiveness. This, however, often necessitates risk-taking and as an LPF I often have to assist participants in navigating the risks.
Why did you choose this profession/field?
I’m naturally drawn to people and love seeing people grow into their full potential. I’m privileged to be a part of this as nothing gives me greater pleasure than seeing people growing to be the best versions of themselves.
What have you learned during your engagements with participants?
Humour is a powerful tool in getting people to relate to each other. By setting the example in not taking yourself too seriously, you provide “permission” to participants to laugh at themselves and accept themselves warts and all.
What are one or two of your proudest professional accomplishments?
Running a psychology practice for the last twenty years in difficult circumstances fills me with pride. Every time I witness the transformation of a group of students who started a programme and progress through the journey of the BDAL, I am proud of the joint effort of every role the team at USB-ED has played in the development of our people.
