Tag Archives

292 Articles

Sustainability: Is It a Reachable Business Model?

Posted by Felix Assivo on
0
Business
Sustainability: Is It a Reachable Business Model?

This week’s article is an excerpt from “Stewards of the Future – A Guide for Competent Boards”, by Helle Bank Jorgensen, CEO of Competent Boards, which offers the global online ESG Competent Boards Certificate Program.  It is a companion to her interview on Innovating Leadership, Co-creating Our Future titled Stewards of the Future: A Guide for Competent Boards that aired on Tuesday, January 18th, 2022.

“Stakeholder concerns are shareholder concerns. The increasing focus by investors, consumers, and other stakeholders on sustainability is directly influencing value creation.” — Jane Diplock, chair, Abu Dhabi Global Market Regulatory Committee; director, Value Reporting Foundation

Case study – Ørsted

One company that has successfully managed the transition from passive to active engagement is Ørsted, Denmark’s largest energy utility. Ørsted has undergone a dramatic transformation since its inception in 1972 as Dansk Naturgas, and later as Dansk Olie og Naturgas. For the first thirty years of its existence, its business centered on coal-fired power plants in Denmark, and offshore oil and gas drilling rigs in various other parts of Europe. In 2006, however, it decided to shift its focus to green energy, closing its coal-fired plants and putting its resources instead into offshore wind farms. As of 2020, the Danish company was the world’s leader in offshore wind power, with a 30 percent market share; it forecast that it would produce enough power for more than 30 million people by 2025.

Stakeholder engagement has been a key pillar of the transition strategy. In 2007, for example, the company began fostering a dialogue with activist groups such as Greenpeace, the World Wildlife Fund and the Danish Society for Nature Conservation. Rob Morris, a senior editor at the London Business School, noted in an article that Ørsted “had to convince people that the future business could be as successful as the old one.” One example was a lengthy op-ed piece in Denmark’s Politiken newspaper written by then-CEO Anders Eldrup in which he stressed that transformation would not be an overnight miracle. Eldrup publicly debated the company’s climate action strategy with Greenpeace’s then-executive director Mads Flarup Christensen at a 2009 meeting hosted by the Copenhagen Business School.

While the Danish government still owns 50.1 percent of Ørsted shares, the company has been listed on the Copenhagen stock exchange since 2016.  The following year, it opened another useful avenue to tell its story to international investors by launching its first green bond.

“A lot of it starts with a company needing to be clear about what its purpose and its real priorities are, and that can be quite difficult to formulate,” says Ørsted’s current board chair Thomas Thune Andersen. “We have a wide debate about strategy that covers everything from the annual strategy plan to the long-term strategy, to our strategic priorities. If you’re able to really explain what your strategic priorities are, you’re able to get the shareholders and others to buy in.”

Ørsted now conducts a thorough materiality assessment each year, which involves identifying its most material stakeholders as well as assessing shareholder priorities and how these priorities intersect with society’s overall challenges. It has identified five key stakeholder groups: political stakeholders and authorities, local communities, employees, investors and shareholders, and NGOs/multiple stakeholder networks. The company has a specific interest in each group. Political stakeholders are vital allies in its plans to develop green energy. Local communities and employees provide valuable input on skills, talent retention, education, and local environmental initiatives. Investors expect strong financial returns as well as robust performance on environmental, social, and governance issues. Finally, the company engages NGOs and multi-stakeholder networks on topics such as biomass sustainability and human rights. It has worked to strengthen implementation of the UN Guiding Principles on Business and Human Rights and has identified minerals and metals in its supply chain where environmental and human rights risks are greatest. The Danish company also has no problem collaborating with other utilities to develop wind farm projects. For example, in March 2020, it joined forces with Japan’s Tokyo Electric Power Company Holdings to bid for an offshore wind power project in Chiba prefecture, near Tokyo. The two companies have several other joint projects.

Ørsted has set a target of net-zero carbon emissions by 2025 and no carbon emissions at all by 2040. Corporate Knights magazine named it the world’s most sustainable energy company for three years in a row, from 2019 to 2021, and ranked it number two across all sectors in 2021. But sustainability has not come at the expense of financial performance. Ørsted’s market value has more than doubled since its listing in 2016, surpassing rivals such as BP with a far greater dependence on fossil fuels. It achieved a 10 percent return on capital and a 4 percent advance in operating profit in 2020. As of mid-2021, its share price had almost quadrupled since the 2016 initial public offering.

Taken from “Stewards of the Future – A Guide for Competent Boards”, by Helle Bank Jorgensen, now available in hardcover and ebook.

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

 

About the Author

Helle Bank Jorgensen is the CEO of Competent Boards, which offers the global online ESG Competent Boards Certificate Program with a faculty of over 95 renowned international board members executives and experts. A business lawyer and state-authorized public accountant by training, Helle helps global companies and investors turn sustainability into strong financial results. She was the creator of the world’s first Green Account based on lifecycle assessment, as well as the world’s first Integrated Report and the first holistic responsible supply chain program. Helle has written numerous thought leader pieces, is a keynote speaker, and is interviewed by global media outlets.

Photo by Damir Kopezhanov on Unsplash

Considerations for Scaling

Posted by Felix Assivo on
0
Business
Considerations for Scaling

This week’s article is by Greg Moran, a C-level digital, strategy and change leadership executive with extensive global operations experience.  It is a companion to his interview on Innovating Leadership, Co-creating Our Future titled What Leaders Won’t Talk About When Scaling a Business that aired on Tuesday, January 11th, 2022.

No cute titles, no click-bait tag lines – just an honest conversation about some of the things I’ve learned from creating, launching and getting through the first couple of stage gates on scale.  I spent most of my career working at big companies like Bank One (Chase), Ford Motor and Nationwide Insurance either to transform to meet competitive pressure or maintain the status quo of a business model that hasn’t changed since before I was born.  Starting a company is way more fun, but much of my experience did little to prepare me for the challenges of actually going through the process in a leadership role – kind of like how watching the Tour de France on TV does little to prepare you to ride your bike 100 miles in a day.  For this blog, I’ll summarize the headlines that we cover in the accompanying podcast.  I encourage you to listen so you get the nuance of what the words mean because they can look obvious on paper without hearing the dialogue.

Back Office

The thing about back-office investment is that you don’t want to make the investment until you need to, but when you need to, it’s usually painful and distracting – like changing the tires on a car that’s going 70 mph.  The trick of it is to be ahead of the curve, but not too far ahead of the curve.  One of the things that I’ve found useful is to remember 2 things:

  • “Skate to where the puck is going to be, not where it has been.” – Wayne Gretsky
  • Tech costs a lot less than people do, so get on platforms that will make sure your back office stays off the critical path of your growth, otherwise you will have to compensate with people.

DEI and ESG

Nobody wants to talk about this because they are afraid of getting canceled or saying the wrong thing and getting attacked.  There are some cold hard truths you need to know about this space if you are starting a tech company (and many other types of companies as well):

  • The talent pool of people that can tolerate the perceived risk of a startup is not as diverse as the general labor pool.
  • The talent pool of people that are experienced in the functions you need to fill AND have start-up experience is even less diverse, and you rarely have the luxury of time to go find that unicorn.
  • The people who are attracted to the risk profile of the startup world expect to be compensated with equity in a way that rewards them for the risk and have little practical interest in the other ‘equity’. Everyone has a good set of talking points these days, the expectations remain (I’m living this now, even though we are well beyond the risk-equity phase of growth).
  • Your ability in the early days to create ESG metrics will be limited and probably irrelevant.

So what does this mean for you?  My suggestion is the following:

  • Have a clear set of principles on DEI and ESG that guide the company’s decision-making and are very transparent to the board, the leadership team, every employee and every prospect.
  • Back up the principles opportunistically at every turn, without compromising the integrity of your commitments to existing employees and investors. In the early days, compromises on competence will stick out like a sore thumb and may kill the company if the role is important enough.
  • Rely on advisors to help bolster/refine the thinking of the team over time.
  • As soon as you can begin to build a pipeline, invest in talent resources that have the clear accountability to do so.
  • Use search firms to amplify your reach to great diverse candidates.
  • Insist on equally engaging events and practices within the company.
  • Don’t virtue signal with grand statements that you can’t back up and just invite criticism and ‘got Chas’.

Space and People

Scaling and Covid combined have raised some interesting questions on space and people.  As you grow, does your philosophy on space and employee experience change?  Is remote your new operating model – going full virtual?  How do you handle in-person collaboration when it benefits the company and/or the process and/or the individuals who may desperately want to have and build personal relationships?

I think any singular answer to this question would end up being a ‘one size fits none’ solution, so I’ll stick to some principles we have embraced (for now) in light of the ever-shifting landscape in which we all find ourselves:

  • Don’t be definitive and don’t show a preference for remote vs. in-person. If you really want to allow either to give you access to more talent and allow you to grow faster (or whatever reason), then truly embrace and invest in both.
  • Model both from a leadership standpoint, even if you have a strong preference. Your modeling will empower.
  • Make in-person compelling – give people a reason to come in, regardless of the frequency.
  • Do the same for remote – support the gear that makes it a great experience for the remote employee and those they interact with. Provide stipends and perks to enhance the remote experience.  Create quality virtual events – serious and fun.
  • Communicate and get feedback as the game changes.

Value Chain Balancing

As you scale a business, maintaining balance throughout your value chain is essential.  You really are only as strong as your weakest link and if you are over-invested in one element of your business, but constrained in another, you are just wasting money.  One of my friends that had exited a start-up gave me some great advice as we started our company.  ‘Never confuse having a product with having a company’, he said.  It was brilliant advice and has value chain balance at its heart.  If you build a better mousetrap, the world will not beat a path to your door.  In fact, the world will probably never know you exist.  If you have no pipeline, hiring people to close deals is a waste of money.

Pay attention to and build specific metrics around your funnel – know the numbers for you and for your industry and stay on top of it!  Keep the operations functions off your critical path by making sure they have the capacity to support your growth – HR, Finance, Facilities, etc.  Force business case discipline on your product and engineering functions (which is not to say don’t place bets, but the business cases force the homework to be done and give you data on which to base the bet, which will lead to better decisions and board-level buy-in).

Avoiding Distraction

One of the most insidious things that can happen as you scale is that the world will want to talk to you and your team about your success.  The temptation to do so is pretty irresistible and you should fight it aggressively.  When you start up the steep scaling curve is when the company needs focused leadership the most.  I’ve seen great young companies and budding CEOs get totally derailed by the seduction of publicity that makes them feel good but does nothing for the company, its customers or its team.  Do a couple of carefully curated and well-managed events per quarter and stay focused on your broader objective.

I hope this practical approach is useful.  I’m not looking to impress you with clever aphorisms (I have a bunch that perhaps I’ll drop in another blog someday), but rather to give you some super simple, easy-to-implement concepts.  Upward and onward!!

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

About the Author

Greg Moran is a C-level digital, strategy and change leadership executive with extensive global operations experience. He led corporate strategy for Ford and designed the plan that Alan Mullaly used to turn around the company. Greg held C-level IT positions in app dev, infrastructure and core banking applications at Ford, Nationwide Insurance and Bank One/JPMC, respectively. He began his career in consulting with Arthur Andersen Accenture, working across industries with 100 companies over the course of a decade. He is passionate about leadership and culture and teaches part-time on the topic at Ohio University.

Use Purpose to Help Your People Perform Their Best

Posted by Felix Assivo on
0
Business
Use Purpose to Help Your People Perform Their Best

This week’s article is by Nell Derick Debevoise, Founder and CEO of Inspiring Capital, a certified B Corp that offers purposeful leadership development content and programming to accelerate the movement of business as a force for good.  It is a companion to her interview on Innovating Leadership, Co-creating Our Future titled Going First: Courage to Lead Purposefully and Inspire Action that aired on Tuesday, January 4th, 2022.

The way we work is broken. Workplace trends show that employees are resigning in greater volume than ever, jobs are being created at a slower rate than any of the prior 7 months, and employee wellbeing is flatlining at best. The seeds of employee distrust were planted well before Covid-19 and now they become a problem that no employer can ignore.

Employees used to spend years or entire careers at one company with blind loyalty to the corporate mission. Today employees are looking to belong to a greater purpose and aren’t afraid to jump from job to job until they find one that resonates.

Creating a People-First Workplace

Not only the way we work has changed, but also the work to be done. Technology and globalization mean that employees are doing the work that only people can do, like collaborating, innovating, and empathizing. Employees can only perform these higher-level tasks when they are operating with healthy minds, bodies and spirits.

Gone are the days where employees can be treated as cogs in a wheel, incentivized to produce as much output as possible. Trends in the business landscape met with the simultaneous crises of the 2020’s have shifted power from employers to employees. Employees demand a meaningful work experience. They want to know why they’re doing what they’re being asked to do.

How can companies bring back the magic that makes employees care about their work? Connect them to the purpose of what they’re doing. It is one of the greatest human joys to achieve something larger than ourselves, working in a team towards a common goal.

Living – and working – purposefully means connecting your choices and behavior to something important in the world that you want to achieve. Purpose provides a reason to get you out of bed every morning beyond your own wellbeing or wealth. Companies need to focus on providing purpose as much as other benefits.

Celebrate Purpose in Your Organization

It’s time to throw a party, but this is a different type of party. Free beer and kombucha and promises of Summer Fridays are table stakes. Now employers must empower people to be fulfilled, by guiding them to recognize why the work matters to them as individuals, and the impact it has on people and planet around them.

It’s time to throw a purpose party. According to Marc Spencer, CEO of Summer Search, “A life of purpose is a life of joy! When you understand how your life has meaning, it brings joy, clarity, awareness of aspirations.” A purpose party is the first step to getting below the surface with your employees. It doesn’t take months of planning or a catering budget. It only takes conversations that go deeper than the day-to-day activities of your business.

Like most 2020s parties, set up a zoom link and start a new type of conversation. Choose your favorite party chat opener, like “Can I ask you a weird question?” or “This might sound random, but bear with me.”

And then dive in. Try this, “My best days are when…” Or “I am excited to come to work on Mondays because…”. Ask employees to answer those same questions. Listen, and ask more. It might be awkward at first, but creating the space for these conversations is the first step.

While throwing a purpose party scratches the surface of conversation, it’s important to make this a recurring event. Continue these conversations and questions in other meetings as openers or part of a weekly check-in. It only takes a few catalysts engaging in these types of conversations to help grow the movement. Encourage your party guests to host their own purpose parties with other colleagues around the firm.

It doesn’t take long for positive things to catch fire. As Lorie Yañez, Head of DEI at MassMutual, commented, “We’re at a tipping point. With 50% of leaders at advanced levels of cultural competence, those of us championing an inclusive approach don’t feel alone anymore.” By making purpose a topic of conversation in your immediate circle, you can reach that tipping point.

Start these conversations and watch the benefits accrue. Purpose is the most powerful, and most authentic, motivator out there. Sandi Kronic, CEO at Happy Dirt, says “When I’m in my purpose, it doesn’t even feel like I’m doing anything for anyone else!”

Bring Purpose to your Workplace Today

A purpose party doesn’t need to be a big event. Bringing intentional conversation to your workplace can start with one-on-one conversations or team meetings. Make time to discuss why you do what you do to help everyone remember what brought them each to this work. Engaging employees on their purpose will help them contribute to outcomes that are only achievable when everyone comes together. And that is motivating!

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

 

About the Author

Nell Derick Debevoise is a thought partner to purpose-driven leaders, as well as speaker, author, and Founder and CEO of Inspiring Capital. Debevoise guidance helps CEOs and CHROs expand their impact, grow their businesses, and build powerful legacies. She has lived and worked on 4 continents, and collaborated across sectors with Japanese executives, Palestinian community leaders, French high school students, and Mozambique education ministry officials among others. Debevoise also studied leadership, innovation, and intercultural dialog at Harvard, Cambridge, University di Roma, and Columbia and London Business Schools. In 2011, she moved to New York and founded Inspiring Capital, a certified B Corp that offers purposeful leadership development content and programming to accelerate the movement of business as a force for good. Debevoise is a Senior Contributor for Forbes, and her first book, Going First: Find the Courage to Lead Purposefully and Inspire Action (available early 2022) is an International Best Seller.

Photo by Arlington Research on Unsplash

A Future-Ready Leader’s Look at Leadership Trends and Recommendations

Posted by Felix Assivo on
0
Business
A Future-Ready Leader’s Look at Leadership Trends and Recommendations

This week’s article was originally published by Maureen Metcalf for Forbes Coaches Council on September 14, 2021.  It is a companion to the year-end trends discussion with Christopher Washington on Innovating Leadership, Co-creating Our Future titled Leadership Trends for Future-Ready Leaders in 2022 and Beyond that aired on Tuesday, December 28th, 2021.

Uncertainty is the norm across all realms of our work and home lives. However, this uncertainty is different depending on professional roles and personal living conditions. This year’s trends report points out key trends we anticipate continuing and some recommendations to address these trends.

We keep reading that we face unprecedented change and live in a volatile, uncertain, complex and ambiguous (VUCA) world. We have been talking about this for a few years now, and people are looking for the new norm. The summary: VUCA is the new norm. We need to rethink how we lead and structure our businesses and lives for our people, organizations and communities to thrive. Most of us have mental models reflecting slower change and less complexity. It is time to update those models. Old models generate increasingly suboptimal decision-making and action.

We as leaders need to rethink who we are and how we lead, becoming future-ready. We need to reevaluate every facet of how we lead and conduct business. We need to celebrate what works and continually adjust what doesn’t work. Analysis and adjustment need to be part of our leadership habits. Many of us get personal annual health checks, but we may not have a similar schedule to update our thinking and behavior as leaders.

Trend 1: Business models need to focus not only on delivering results but also on building the capacity of the people and the organization and meeting the needs of a broad stakeholder group. This business model shift will include increased technology for some organizations, including robotic process automation, artificial intelligence and machine learning. For others, it will mean changes in buying policies, from procurement to increasing stock levels to managing supply chain uncertainty. Many companies, especially funders, focus on environmental, social and governance (ESG) standards; more companies will adopt an ESG focus moving forward. In addition to ESG, we see an increased emphasis on engineering sustainability in all aspects of the enterprise and moving toward becoming a circular company with a zero-waste emphasis.

Trend 2: We are changing the nature of work with workplaces becoming more experimental and data-driven. To build the capacity to adapt, organizations will continue to take a mindset of experimentation in all facets of product development, process change, technology updates, culture change and people leadership and management to meet stakeholder needs better. Therefore, we need to continue to refine our mindsets and how we work so we can shift what we do and how we do it.

Trend 3: The uncertainty causes challenges across the business landscape. One of the most significant impacts is the mental health of our people. Depression and anxiety are high across all demographics and ages. According to the CDC in April 2021: “During August 2020–February 2021, the percentage of adults with recent symptoms of anxiety or a depressive disorder increased from 36.4% to 41.5%, and the percentage of those reporting unmet mental health care needs increased from 9.2% to 11.7%. Increases were largest among adults aged 18–29 years and those with less than a high school education.”

The mental and neurological health impacts of Covid-19 are far from over. Many people will navigate effectively during Covid-19 then struggle upon their return to their prior routines. They may have risen to the occasion to deal with the pandemic, but they may still feel the long-term implications for several years. Leaders and organizations need to create environments that support the mental and physical health of their people. They need to begin considering the neurological impacts and look at how to build neurological resilience.

Trend 4: Organizations will continue to experience a shortage of qualified employees. Organizations need to reskill and upskill their workforces and prepare for a more adaptive and team-based environment. As the nature of work changes, we need to help employees build additional hard and soft skills required to thrive.

The pandemic disproportionately impacted women’s participation in the workforce. We will see a structural impact for years to come unless leaders adopt policies and workforce practices that ease the social burden and help re-integrate women into the workforce. Additionally, young people face disruption to their education and, in many cases, a difficult entry into early career opportunities impacting their education, employability and retention. Additionally, many employees are unwilling to return to jobs that expose them to the public or do not align with their goals.

Companies and communities need to revisit their talent development and retention policies and amenities to match employee expectations. Creating paths for people who were not previously considered part of the workforce will be crucial to meet workforce needs and provide meaning and economic opportunities for people who need them, ranging from people with disabilities to people within the traditional retirement age. In addition, organizations must find avenues to retrain and upskill employees and create flexible working opportunities for more part-time and remote work for the broad employee base.

Trend 5: Climate change will cause geographic migration. The climate volatility will force businesses to reconsider their physical location over the next decade. This trend connects to ESG and circular business models. As leaders, we will also need to consider where we build new facilities and where we expand operations.

Trend 6: New technology and mindsets continue to mitigate our current challenges and create opportunities never before imagined. We see opportunities we never imagined. Science is curing diseases; technology addresses challenges from food insecurity to labor shortages; and leaders across the globe are collaborating to address social and climate issues. We need to ensure we can optimize the benefit of solutions as quickly as possible.

We are living in a time where we will make a significant impact on future generations. Our ability to lead through these challenges will change the course of history. What are you doing to mitigate the obstacles with emerging tools across a broad range of sectors to co-create a thriving world that is more equitable and just?

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

About the Author

Maureen Metcalf, CEO, the Innovative Leadership Institute, is dedicated to elevating the quality of leaders globally.

Photo by Hello I’m Nik on Unsplash

Evolving an Iconic Brand

Posted by Felix Assivo on
0
Business
Evolving an Iconic Brand

This week’s article written by Maureen Metcalf.  It is a companion to the interview she conducted with George Limbert, President of Red Roof Inn on Innovating Leadership, Co-creating Our Future titled Red Roof Revisioning the Future that aired on Tuesday, December 21st, 2021.

Since the pandemic, everyone has been talking about the new normal. The new President of the Red Roof family of brands is proactively evolving how the hotel industry and its brands meet their stakeholder needs in a post-pandemic world.

On August 26, 2021, Red Roof’s® name’s’ George Limbert as President of the company effective immediately. George was the interim President beginning in October of 2020.

George served as Red Roof’s General Counsel for the previous eight years. He was on the core leadership team that guided the company throughout the pandemic. As a result, Red Roof has overcome these challenges as a well-positioned leader in the industry, seeing consistent increases in all performance metrics.

Immediately after being named President, George invited his senior leadership team to look at how they would evolve the brands. He started with the founder’s mission. Next, the team explored how to evolve the strong legacy of this iconic brand to meet the changing needs of all stakeholders.

The founder, Jim Truman’s Mission was:  To offer clean and comfortable rooms and attentive guest service – and charge less for it.

With the support of an Innovative Leadership Institute facilitator, the team came together and co-created the updated vision.  The new vision is: To provide the best experience and value in the lodging industry for our guests, owners, team members, partners, and communities.

When we look at missions and visions, many think of a group of leaders sitting in a corporate headquarters coming up with nice slogans that are neither realistic nor inspirational. While the senior leaders created the new Red Roof vision, this process differed from most. After developing the vision, several leaders went on a “look and listen” tour of a sample of the 660 hotels to hear from the franchisees and employees. Next, the team participated in two annual franchise conferences, where they spent more time in person with the franchise owners. The next step is a gathering in February with all employees. At each step, the team looked to validate and find holes in the vision to ensure the final version accurately reflected the true promise of the brand family. This process is ongoing, and while brands don’t regularly change their visions, this brand is “stress testing” its vision to ensure it is an accurate and inspirational evolution of the founder’s legacy.

After putting the vision on paper, the leadership team broke into groups to define what that vision would look like as it turned into reality. Some groups focused more on people while others on processes and measures. The result was a consolidated story of how the brands and the organization will evolve. This step is critical in the organizational change process. The leadership team and the organization need to align around the what before identifying and agreeing on the how. They answered a range of questions about culture, processes, measures. These questions ranged from processes related to aligning as a team to how they view and build on quality. Evolving a brand takes a concerted effort by a well-aligned team. The story starts, “Five years from now, we will be an extraordinary reflection of our best selves. We will have grown with purpose because we pooled our greatest strengths: our diverse talent, our culture founded on trust, honesty, transparency, and our iconic brand.”

The Red Roof team will continue to share their evolution as they progress in their transformation. The Innovative Leadership Institute is honored to support this iconic brand’s evolution.

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

About the Author

Maureen Metcalf, CEO, the Innovative Leadership Institute, is dedicated to elevating the quality of leaders globally.

Photo by Gabrielle Henderson on Unsplash

BCM & Risk Mgmt.: A Well-orchestrated ‘paso doble’ for Resilience

Posted by Felix Assivo on
0
Business
BCM & Risk Mgmt.: A Well-orchestrated ‘paso doble’ for Resilience

Join me June 9, 2022 at 1pm EST on the Business Channel!

Business Continuity and Risk Management must work closely together, like two people in a well-orchestrated dance; a ‘paso doble’. I speak with Business Continuity and Risk Management expert Federica Maria Rita Livelli about how these two disciplines need to work in parallel to maintain synergy and unity.

In this episode Federica discusses:

1. Defines the likeness between disciplines and how they assist each other

2. Discusses strategies and resources that link the two disciplines together

3. The importance of the Business Impact Analysis and the Risk Assessment

4. Understanding the business

5. The resilience that can be created between the two

6. A holistic and harmonized approach to BC and Risk Mgmt.

7. Tips for practitioners to foster an ‘…environment… based on shared risk…culture, values, trust and collaboration’…and much more!

Enjoy!

Preparing4Unexpected-AFullick.jpg

Guiding Leaders Through the Worst Days of the Business Lives

Posted by Felix Assivo on
0
Business
Guiding Leaders Through the Worst Days of the Business Lives

Join me June 2, 2022 at 1pm EST on the Business Channel!

Being a corporate business leader can be tough. “Mishandled crises can devastate businesses, lives and livelihoods” (Hemus, 2020) I talk with internationally recognized crisis leadership expert and author, Jonathan Hemus, as we talk about what good leaders need to understand, know, and react, when disasters and crises strike.

We talk about:

1. The challenging risk landscape (health, economies…)

2. Securing executive buy-in

3. What organizations need have – and do – pre-crisis?

4. How to create a Crisis-Resilient Culture

5. The common flaws in crisis response

6. The golden rules for a successful crisis response

7. Michael McCain’s response to the Maple Leaf food crisis, and more.

It’s an informative discussion about a serious subject, and yet very open and accessible to people that might not be fully versed on crisis leadership. We might even have a comment or two about Aston Villa. Enjoy!

Preparing4Unexpected-AFullick.jpg

Psychology and Crisis Management with Gavin Freeman

Posted by Felix Assivo on
0
Business
Psychology and Crisis Management with Gavin Freeman

Join me 1pm EST, May 5, 2022!

Being a leader is hard. It’s even harder during a crisis. I speak with psychologist and author, Gavin Freeman about leadership psychology as it pertains to crisis management. It’s quite insightful and at times, surprising.

We touch on:

1. The Ardent – Dreamworld Incident (Who? What? When? Where? Why? How? Outcome?),

2. The mind of the CEO – Upper Echelon of the CEO,

3. Regulatory Theory,

4. Promotional vs Preventative to Performance vs Preventative,

5. Behavioral Agency Theory,

6. Reputation Management,

7. Value = Insight + Tension (This is really interesting and worth a listen), and

8. What can leaders, professionals, and organizations do?

It’s a very interesting talk about psychology and crisis management, and Gavin does a great job of turning theory into something lite and understandable. It become clear quite quickly, that being a leader during a crisis is much more than following a plan. Enjoy!

Preparing4Unexpected-AFullick.jpg

Business Leaders: Don’t Be Afraid of Gen Z

Posted by Felix Assivo on
0
Business
Business Leaders: Don’t Be Afraid of Gen Z

This week’s article was originally published by AnneMarie Hayek (Evans) for Forbes Business Council on November 9, 2021.  It is a companion to her interview on Innovating Leadership, Co-creating Our Future titled The Power and Promise of Generation Z Part 2 that aired on Tuesday, November 30th, 2021

The past few years have been some of the most turbulent in living memory. My consulting work with dozens of companies has shown me that, beyond economic and political uncertainty, many business leaders are also afraid of Gen Z. What’s behind this fear?

It turns out there are several factors. When business leaders look at Zs, they see a generation that isn’t afraid to publicly take powerful people to task, or boycott organizations for misappropriating words and cultures. They fear the change Zs around the world demand. And, perhaps unsurprisingly, they worry they’ll become Gen Z targets too.

Many of the business leaders I talk to are uncertain about how to interact with this volatile generation. This may be true for you, too. But to thrive in the world Zs are creating, you cannot be afraid of them. You must learn to engage with them on their terms, or you will be left behind.

The Myth Of “Cancel Culture”

It’s easy to read stories about Zs calling out powerful people and assume Zs are hellbent on creating “cancel culture.” However, that misses the point of what Zs are trying to do. Zs are focused on accountability, not canceling. Their goal is to get us to critically examine our culture and systems to find ways to improve them and make them more inclusive.

Through their devices and platforms like TikTok, Zs have had a front-row seat to the biggest issues facing our world since childhood. They witness the raw, gritty, diverse lived experiences of other Zs all over the world firsthand, every single day.

Because of this, they aren’t afraid to engage in difficult conversations among diverse perspectives. In my experience, Zs don’t self-select into echo chambers the way older generations tend to do online. They seek to engage broadly and are not shy about holding everyone (including each other) accountable.

Many organizations find this uncomfortable. If they want to succeed, though, companies must get used to it, because, unlike prior generations, Zs want to engage on a deep level. Zs view calling a company or an individual out as an invitation for a real, crucial discussion. They won’t settle for the trite, superficial sound bites prior generations often accepted. They know it can be uncomfortable, but they believe engaging in critical discourse is the only way to make things better for everyone.

The Upside To Engaging Zs

Gen Zs often feel dismissed because of their youth. But trivializing them is a mistake. Collectively, Gen Z is huge: They’ve surpassed Millennials in numbers. They’ve amplified their immense size with digital unity and an incredible ability to mobilize. And, despite having a median age of 17, Zs’ spending power is $143 billion.

Zs aren’t afraid to use their power to hold companies accountable. In 2019, for example, they called out Victoria’s Secret for failing to represent body and gender diversity. When then-CEO Leslie Wexner refused to make changes, the backlash affected Victoria’s Secret sales.

When companies get it right, though, the benefits are tremendous. Take Aerie, American Eagle’s underwear line: They are body-positive, featuring user-generated content of real customers with a range of bodies wearing their underwear. They are demonstrating the kind of inclusivity Zs value, and Zs have rewarded Aerie with 26 consecutive quarters of double-digit growth.

How To Engage With Zs

Understanding the importance of engaging with Zs is one thing. Knowing how to do that is something else entirely. Luckily, though, the process isn’t as difficult as it may seem.

First, give Zs meaningful representation in your company. Remember, they want a real seat at the table. Take the social platform company Triller, for example. It hired the successful 18-year-old social media creator Josh Richards as their Chief Strategy Officer. The team knew there was nobody better than a Z to help them compete with their main rival, TikTok. Their savvy move helped bring them exponential growth.

Second, engage your Z audience as co-creators. They’ve been creating on TikTok, YouTube, Minecraft and more since they were young, so they value unfettered creativity. It may feel strange at first, but giving up some control and letting them co-create your content will demonstrate how much you respect and value them and their input.

Finally, don’t be afraid to ask Zs questions. Want to know how to use TikTok in a way that resonates with Zs? Ask them. Wondering how you can demonstrate your commitment to inclusivity without coming across as fake? Zs will tell you.

Working with an advisory board composed of Zs is an especially smart move, because it allows you to get their input on every decision you make. Engaging with Zs like this is a great way to avoid “tokenism” (the symbolic appearance of inclusion) and other similar missteps.

Embrace What Zs Have To Offer

There’s no question that Zs have a far different outlook than prior generations. However, once you realize Zs aren’t “cancel culture” zealots whose only goal in life is to tear our systems down, you can start engaging with them on a meaningful level.

Give them a seat at the table. Start involving them as co-creators with your brand and your products. And start asking them questions. Be willing to go below the surface and engage in deep, meaningful discourse with them. I promise you: Zs are not your enemy. There is no reason to fear them, and every reason to engage with and embrace them.

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

About the Author

AnneMarie Hayek is a cultural consultant, generational expert, and social agitator who deeply understands society’s evolutions. She founded and leads two companies, Global Mosaic and ZSpeak, with a passion for navigating the cultural movements shaping our world. AnneMarie and her team of experts have advised the world’s largest companies, organizations, governments, and presidential candidates for more than twenty-five years. She has a graduate degree from the University of Chicago and previously served as SVP and VP of Global Strategy at BBDO and Leo Burnett.

Photo by Benjamin Ranger on Unsplash

Disposable Housing and the Circular Economy

Posted by Felix Assivo on
0
Business
Disposable Housing and the Circular Economy

This week’s article is provided by Dr. John A. Kilpatrick, an economist specializing in real estate investment and housing issues. It is a companion to his interview on Innovating Leadership, Co-creating Our Future titled What Leaders Need to Know About Circular Economy that aired on Tuesday, December 7th, 2021

There is an economics story making the rounds about the coal miner and the coal mine owner each buying a new pair of work boots. A cheap pair costs $5 and will last a season. A better pair will cost $20 and last five seasons. Unfortunately, the coal miner is never able to squeeze together $20, and so each season is only able to buy a $5 pair. The coal mine owner, of course, can afford the better pair. At the end of 5 years, the coal miner has spent more money than the boss ($25 versus $20) and has thrown away 5 pairs of used boots.

We have a not dissimilar problem at the heart of the world’s very significant housing crisis. It is most obviously manifested in the lack of housing affordability but is inextricably tied to the life-cycle wastage in housing resources.

Globally, housing now costs an economically unsustainable portion of a working person’s budget. Inseparable from housing affordability is housing availability. At the bottom rung of the economic ladder, housing is simply not to be had. Gregg Colburn, a real estate professor at the University of Washington, has done ground-breaking empirical research into the homeless problem to arrive at an extraordinarily simple finding – cities with the most expensive housing have the most significant problems with homelessness.

Attempts to address the problem since World War II may have actually made the problem worse and almost certainly violated the principles of a circular economy. For example, after WW-II, in the UK, vast arrays of temporary “modular” housing was constructed to address the immediate shortages. These homes were designed to have 10-year life spans, but in many corners of the UK these flimsy dwellings are still standing. As an ironic side note, many of these pre-fabs contained asbestos, lead-based paint, and other structural problems. In the US, many modular units such as mobile homes were purposely built to the most cost-cutting standards and had significantly foreshortened lifespans and lack of future adaptability compared to traditional stick-built, site-built homes. Interestingly enough, these flimsy substitutes were considered the new modern convenience in the 1950’s and promoted in movies such as the Lucile Ball – Desi Arnez hit, “The Long, Long Trailer.”

In Japan, the problem has been exacerbated by stylistic choices. Newer homes have been highly preferred to older homes. Japan saw a wave of post-war construction, but “new” and “modern” became more fashionable, and each passing decade has seen older homes become valueless in as short as 20-30 years. As such, homes in Japan are not built to last, and in some suburban towns, homes built in the 1960’s are no longer standing.

Apartment dwelling has proven to be no solution, and in fact has contributed to the wastage problem. Post-war apartment buildings were often constructed with 30-40 year economic lives. After that, the cost of replacing mechanical systems, tired or failed window and door systems, and overall heightened maintenance favors tear-down and replacement rather than rehabilitation.

This race to the bottom in housing quality and the shortening of the economic lifespan of housing inevitably drives up the long-term cost of providing adequate housing to a growing population. While short-life-span housing may have an attractive up-front cost, the need for regular replacement drives up the cost and saps resources. In short, workers needing a roof over their heads have been forced to invest in the housing equivalent of $5, disposable boots.

At the core of the concept of a circular economy is the notion of reducing the price consumption by extending the lifespan of the goods consumed, in this case, housing. Finding a sustainable, circular solution to the simultaneous problems of housing cost and housing lifespans will not be simple. For one, health and safety standards today mandate materials and systems that were either unknown or had unacceptable substitutes in past generations. Examples include adequate and cost-efficient heating, cooling, and ventilation, window and door systems that contribute to energy efficiency, improved sanitary facilities, and kitchen and utility appliances that optimize the time spent on cooking and cleaning. These systems have short life spans, and remodeling/rehab have not proven to be efficient solutions in the past.

There is however significant research underway. The 2016 African Real Estate Society Conference, held in Addis Ababa, was devoted to sustainable development. Architecture and design researchers from universities in the Netherlands are presently working with colleagues in Malaysia where housing demand and affordability are nearing crisis levels. By designing future flexibility into housing units, they hope to simultaneously conquer the affordability problem for younger consumers, the space availability problems of growing families, and even the downsizing issues of empty nesters. Researchers in Australia and Germany are focusing on the results of the 100 Resilient Cities Program (100RC) developed by the Rockefeller Foundation in 2013, which aims for “the capacity of individuals, communities, institutions, businesses, and systems within a city to survive, adapt, and grow, no matter what kinds of chronic stresses and acute shocks they experience”.

The Houseful Project, sponsored by Housing Europe, kicked off in 2019 with three themes related to housing and the circular economy: Integration of circular solutions in energy efficiency, further development of feasible circular economy business opportunities in the housing sector, and identifying buildings that are willing to implement some of the tested solutions. These solutions include, but are not limited to, containment of materials wastage in the construction process, improvement in the handling of wastewater, and energy conservation.

Australia has been a focal point for much of the research on this topic. In that country alone, over 20 million tons of waste from the construction industry are sent to landfills each year. The Royal Melbourne Institute of Technology and several other universities, with funding from the Australian Housing and Urban Research Institute, hopes to address these and related issues and help guide that country’s housing production toward increased sustainability. Finally, just this month at Canada’s McGill University, researchers held a webinar to address the problem of information silos related to housing and the circular economy, and to find ways to more efficiently share data and methods.

Housing faces real problems in affordability and availability. Increasingly, the housing sector is recognizing that adopting the precepts of a circular economy is a way of holistically addressing these issues.

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

 

About the Author

Dr. John A. Kilpatrick is an economist specializing in real estate investment and housing issues.  He is Managing Director of Greenfield Advisors, based in Seattle, and also serves as a Director of the Washington State Economic Development Finance Authority. Is an author or contributing author of 10 books, most recently Real Estate Valuation and Strategy (McGraw Hill, 2020).

Photo by Marcus Lenk on Unsplash

Enjoy this blog? Please spread the word :)

RSS
Follow by Email