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The Global Financial Crisis
07 March 2011
The Global Financial Crisis (GFC) means that extraordinary leadership will need to emerge in business and in ones personal life.
This has meant all of us looking at things in a different light. For some of us it's a wake up call to be more strategic in our decision making. One of my passions is making decisions that you know will affect generations to come. This means thinking further ahead about the challenges and the opportunities available. Let's face it nobody thought that 'bottled water' would have such an impact and that we would actually buy it or that social networking would be growing at such a rapid rate. From a business perspective companies need to focus on three elements to be successful: Governance+Strategy+Operations. Many companies just focus on the operations but equal attention needs to be paid to foundation elements such as policies and procedures and strategic planning that is forward thinking as well as focusing on delivering the business. These three elements will enable companies to stand the test of time. As a CEO this has always worked for me, it takes more effort but it pays off in the long run. Effective leaders understand this and they work on all three elements to succeed, they don't rely on past efforts they keep building their business. The failure of many businesses is not catering for success. Women tend to work holistically and therefore will emerge as effective leaders in greater numbers throughout the next few years, particularly if men cannot move beyond historical ways of leading companies.
On a personal level many people have made investments in property and shares that have decreased in value leaving people with a lack of confidence in their decision making and the economic environment. Like with any venture, sit tight weigh everything up, get your facts and make long term decisions. It may take longer but success is assured. The new leadership that needs to emerge is about incorporating financial decisions with social, economical and political considerations for example green jobs and social investments, such as social housing, reducing carbon emissions and health and welfare. Women will tend to gravitate to these markets making socially responsible decisions and this will enable women to emerge as leaders in making this world a better place, homes more energy efficient and recycling an even greater part of our life.