Tomorrows leaders, deals with the next generation of CEOs who, due to the changing economic circumstances, will face newer challenges which will require a different set of skills to handle. The article is based on interviews from five leading executive-in-residence, i.e. leading business practitioners who are working with different universities as instructors in order to bring the invaluable practical job experience into the classrooms.
The key change identified is the era of the specialist has come to an end. Previously companies required individuals who had specialized skills in a particular field such as marketing, finance or product development, with very little understanding of others aspects of the firm which are equally important. The new requirement is for dynamic individuals who are integrative thinker, capable of taking on new challenges. The reason for this change is the renewed focus on three legs of sustainabilityenvironment, society, and economics, three aspects which have to be focused simultaneously. To be successful in the future, tomorrows leaders will need a deep vein of creativity, sensitivity to cultural context, a commitment to sustainability, and a social conscience. Thats on top of a more familiar set of non-negotiableflexibility, adaptability, problem solving skills, a multidisciplinary outlook, and a global mindset.
These new requirements have redirected the focus on the educational institutions with the new breed of graduates who are the future leaders. Schools need to take the typical disciplinesfinance, marketing, human behavior, accountingand add integrated thinking and problem solving to create graduates with the right skills.
To help the students get accustomed to demands of the job market, universities have started to hire leading business professionals to help the students gain practical perspective before entering the market. The idea is to help the students realize the importance of passion, flexibility, the ability to take initiative, multi-skill set, networking skills, attitude and ethical clarity. The executive in resident such as Tony Kingsbury and Ellen Miller working at Haas School of Business at the University of California and Lehman Brothers Centre for Women in Business respectively identify that their presence in the classroom is paramount because they bring a new form of teaching which is not based on strict educational outlines but on hard earned experience. The students are directed that the need for education is not just to get the right job, it is to develop skills which are demanded widely by all employees vital skills which will help the students become model employee in any firm they join. The need for such students arises because the new economic environment is not just based on making profits. The future firms also have social responsibilities, global integration, cultural understanding and etc., which the future CEO, as the leader of the firm, has to be able to tackle. The changing customer demands also take into account the firm image, which is also based on how the firms reach out to their communities.
The current economic situation also points towards these changing demands. The financial turn down has forced the companies to look into themselves, searching for ways to be more efficient. This stress on efficiency has lead to greater focus on the human resource available at the firm, demanding more output from fewer employees. This challenge has in turn put greater pressure on the CEOs who, in constant search to deliver greater value to customers and stakeholders, has to identify new solutions. These new solutions require thinking out of the box, understanding various problems and delivering the result in increasingly limited time span, new demands which show that the current leaders who have been raised in the age of specialization will be unable to thrive, and hence only the new, dynamic and well rounded individuals will be able to lead and succeed in the future markets.
The key change identified is the era of the specialist has come to an end. Previously companies required individuals who had specialized skills in a particular field such as marketing, finance or product development, with very little understanding of others aspects of the firm which are equally important. The new requirement is for dynamic individuals who are integrative thinker, capable of taking on new challenges. The reason for this change is the renewed focus on three legs of sustainabilityenvironment, society, and economics, three aspects which have to be focused simultaneously. To be successful in the future, tomorrows leaders will need a deep vein of creativity, sensitivity to cultural context, a commitment to sustainability, and a social conscience. Thats on top of a more familiar set of non-negotiableflexibility, adaptability, problem solving skills, a multidisciplinary outlook, and a global mindset.
These new requirements have redirected the focus on the educational institutions with the new breed of graduates who are the future leaders. Schools need to take the typical disciplinesfinance, marketing, human behavior, accountingand add integrated thinking and problem solving to create graduates with the right skills.
To help the students get accustomed to demands of the job market, universities have started to hire leading business professionals to help the students gain practical perspective before entering the market. The idea is to help the students realize the importance of passion, flexibility, the ability to take initiative, multi-skill set, networking skills, attitude and ethical clarity. The executive in resident such as Tony Kingsbury and Ellen Miller working at Haas School of Business at the University of California and Lehman Brothers Centre for Women in Business respectively identify that their presence in the classroom is paramount because they bring a new form of teaching which is not based on strict educational outlines but on hard earned experience. The students are directed that the need for education is not just to get the right job, it is to develop skills which are demanded widely by all employees vital skills which will help the students become model employee in any firm they join. The need for such students arises because the new economic environment is not just based on making profits. The future firms also have social responsibilities, global integration, cultural understanding and etc., which the future CEO, as the leader of the firm, has to be able to tackle. The changing customer demands also take into account the firm image, which is also based on how the firms reach out to their communities.
The current economic situation also points towards these changing demands. The financial turn down has forced the companies to look into themselves, searching for ways to be more efficient. This stress on efficiency has lead to greater focus on the human resource available at the firm, demanding more output from fewer employees. This challenge has in turn put greater pressure on the CEOs who, in constant search to deliver greater value to customers and stakeholders, has to identify new solutions. These new solutions require thinking out of the box, understanding various problems and delivering the result in increasingly limited time span, new demands which show that the current leaders who have been raised in the age of specialization will be unable to thrive, and hence only the new, dynamic and well rounded individuals will be able to lead and succeed in the future markets.
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