Global businesses are entering a critical evolutionary phase where the next steps of Board & Leadership will have profound impact and epochal effect on how fundamentally business is conducted. Far too many storied institutions have bitten the dust through conscious bad choices made at the leadership level.
The erstwhile idea that success principles and behaviour of the past will continue to drive value in future is a sad reflection of the myopic vision that seems to have afflicted corporations across the world. It is this short term approach of business leaders that has led to complex and turbulent situations, resulting in uncertainty and volatility for enterprises. This problem needs to be addressed on war footing.
Boards & Leadership need to establish ‘Purpose led Business Architecture‘ framework to future proof business. Institutions that are at the cutting edge of leading innovation and implementing ‘Purpose Led Business Architecture’ continue to add value to stakeholders and remain at the forefront of value creation.
The Board & Leadership needs to deeply introspect and litmus test business decisions on continuous basis for delivering priceless business insights through the following questions –
- What steps Leadership Team is taking to establish deep linkages to its identified, defined and articulated ‘Purpose of Existence’?
- Is the institution’s Purpose designed to future proof itself from market complexities and uncertainties through a robust business philosophy?
- What is the company doing to develop / deepen / nurture Inspired Leadership through defined structure & practices at the highest levels?
- Is the Leadership Team focused and committed on value creation through a Purpose led Business Architecture?
- Is the Leadership Team getting out of its perpetual “fire fighting to survive” mode to a “qualified decision making for potential realisation” mode?
- How are we building long term Business Models for a more holistic, sustainable and meaningful stakeholder (not just shareholder) value?
- Are we consciously identifying business priorities through the lens of Purpose to ensure alignment of objectives, resources and efforts for seamless / coherent / high impact execution?
The above examination will be useful to look at a firm’s vision through its purpose of existence. It will provide deep insights into the sustainability of the strategies as also creating long term stakeholder value. It is important Leadership & Management took stock of the above and reflect upon the impact of their decisions on businesses.
This is the essence of building Vanguard Leadership and through them, creating Enduring Business Enterprises for sustainable long term value creation.