Understanding risk is at the core of management and board effectiveness. Every day decision makers consider options and make choices based on their expert judgment and analysis of probable success.
But there is one business risk that can lurk outside leaders’ awareness. In fact, this risk comes from inside their own heads in the form of mental biases. And no one is immune.
For many, our post-pandemic work world has shifted to a hybrid model of in-person and remote activities. Stakeholder relations and operational excellence continue to require leaders to expand, refine and adapt their executive repertoires. An important tool for them to possess and utilize on a daily basis is the Most Powerful Question.
Year Two of the coronavirus pandemic sees uneven and fragile economic recovery in the United States and broader global community. While Chief Executive Magazine recently reported US CEO confidence in future business conditions at a two-year high, leaders in both profit and mission-based organizations continue to face daunting fiscal and operational challenges.
In this Reset 2021 article I will address three priority areas that leaders and the boards that oversee them are talking about now and that require ongoing “protect and correct” attention and action.
The three priority areas are Organizational Reputation, Human Capital and Cybersecurity.
Often discussed within the framework of Environmental, Social and Governance (ESG) issues and regulation, these areas are discrete but interlinking business dimensions that need to be high on the senior executive team’s 2021 “protect and correct” agenda. Why? Because the prolonged global socio-economic dislocations wrought by the Covid-19 pandemic, combined with a low trust stakeholder ecosystem, and disruptive, next generation digital technologies all contribute to heightened business and management risk.
“The deepest principle in human nature is the craving to be appreciated.” – William James
The coronavirus pandemic continues to challenge leaders with navigating rapid change, making tough decisions, and all the while maintaining a motivated community of employees, customers and other partners.
One of the surest ways for leaders to strengthen stakeholder motivation and engagement is to show Gratitude on a regular basis. I call these Gratitude champions Type-G leaders for short.
If you’ve been in the workplace for any period of time, you’ve probably encountered someone who fits the description of a Productive Narcissist. In fact, you might have even hired the person yourself, unaware that certain personality traits would turn your star performer into a costly management “black hole.”
