Organizing for the Future – Important keys to becoming future ready
27 Sep 2022
As the technology landscape and expectations of the market are increasing, getting directors (including women directors and independent directors), promoters and Company, is the need of the hour. Constant upskilling and learning have become the key to survival. Training and skilling have come to the forefront of organizations’ continuity plans.
In today’s time when the status of directors, promoters and company owners is no more limited to the age and experience, the dire need to possess appropriate skillsets is a must. It is important to note that anyone can be placed in a leadership role and can be all set to run a company, however to be good to that position and thrive, requires certain skills. Time has gone when only upskilling your management skills and having good communication skills could fetch you a place in boardrooms. Today the expectations have moved far beyond such basic requirements. There is a lot more that a person must possess in order to successfully run a company or be there as a part of the board.
Let us understand some exceptionally core skillsets that directors, promoters and company owners must possess to be future ready:
- Analytical Skills - Extracting meaningful insights from information, intelligence or data about the company and industry. A leader should be able to interpret and recognize what information is most relevant to their business objectives. Strong analytical skills can help in coming up with creative solutions to challenges the organization may be facing.
- Strategic Decision-Making Skills - Leaders make critical decisions that impact the present and future state of the Company. Strategic decision-making includes evaluating organization's objectives and assessing potential risks that may come with each decision. Making well-informed and strategic decisions can lead to opportunities for growth and continued success.
- Adaptability – Being able to adapt to the ever-changing business and market environment is the most important skillset. This can help the Company to take timely decisions and foresee the future in the best interest of stakeholders.
- Innovative Thinking - Having a creative mindset can drive productivity and lead to success. Leaders who exhibit and encourage creativity constantly strive to find fresh ways to improve and streamline processes, seek future opportunities for growth and find creative solutions to various challenges. Innovative thinking can reshape business models that can lead to a meaningful change and provide the Company with a competitive advantage.
- Empathy - Empathy, especially in a leadership role, can be critical in improving communication, strengthening workplace relationships and maintaining job satisfaction among employees. Empathy shows the ability to understand the experience, perspective and feelings of others, which can make people in the organization feel cared for and valued.
- Ability to take stance for a Purpose - Future-ready companies recognize that purpose helps attract people to join an organization, remain there, and thrive. It’s often said that “where your talents and the needs of the world cross, there lies your vocation.” Indeed, employees aspire further (and even live longer) when their energies are channeled to purpose.
- Sharpen Value Agenda - The key is to use the value agenda to focus the organization’s efforts and instill a sense of what really matters in every employee. When organizations can leverage this clarity—knowing exactly what differentiates them from everyone else—the results are powerful and hard to replicate.
- Observe Culture and Organizational Behavior - Culture is that unique set of behaviors, rituals, symbols, and experiences that collectively describes “how we run things.” It forms the backbone of organizational health and fuels sustained outperformance over time. Leaders hoping to create a robust performance culture need to start by imbibing and creating their organization’s own unique culture. The main ingredient: specific, observable behaviors that employees at all levels of the company adhere to.
The aforementioned skillsets and practices will not only value add to the Company but will also turbo charge the decision-making process in more efficient manner.
How can MentorMyBoard help?
MMB is on a mission to set up effective and efficient Boards in India with great Board members. The first step of setting up effective boards starts with choosing the right candidate and shaping his / her skillsets required to serve the board. With an expert team of mentors, MMB can help directors and aspiring directors in the following manner:
a. Help you get board ready;
b. Conduct personalized handholding and mentoring sessions to develop and nurture essential skillsets required to become a director;
c. Conduct suitable training programs on practical aspects of the boardroom;
d. Assist in developing and shaping your technical know-how;
e. Help you understand your value proposition that can help boards to grow.
For more details connect with us on www.mentormyboard.com .