What will the emerging economy look like? For those that wait to find out, it will be too late. Organizations are scrambling today to position themselves to succeed in a new, risky environment. What do trends, research and models point to and how can you prepare your organization to succeed?
We know that business and the economy will become significantly more global, innovation will become even more paramount to success, and marketing will be a challenge.
Disruptive innovations are leading to new strategies, new business models and new industries. New technologies are changing how people connect, collaborate and work together.
Those organizations that will be the new future success stories, will be ones that can look to the future, develop and market new innovations, and quickly optimize performance. Most importantly, it will be the ones that truly create a “we” based culture that builds deeply upon the noble passions, natural talents and strengths of their associates.
The biggest opportunity for organizations today is to learn how to tap into the potential of their people. According to Gallup, only 13% of the world’s workforce is engaged in their work. Employee engagement is helpful, but passion is even more important. Research from Deloitte indicates that only 11% of the U.S. workforce is passionate about their work.
The impact of this problem is enormous and has multiple consequences. For instance, according to McKinsey, the top two reasons that most new initiatives (e.g., strategies, change, new products) fail is because the employees aren’t committed and the management behavior doesn’t support the change. This is just one symptomatic example that stems from a lack of engagement and passion.
There are five major keys or barriers to creating a passionate, breakthrough “we” based organization that will be needed to succeed. They include:
Leadership Development: Leaders that care deeply and understand how to unleash and build upon the potential of their people. An average person values trust, stability, compassion and hope the most in a leader.
Strategies: People that understand how to use inclusive approaches to creating and implementing strategies which in turn creates passion and success.
Structure: Organizational structures that don’t inhibit employees’ progress but provide them every opportunity to grow.
Culture: Effective cultures that focus on and build upon the potential and strengths of their people.
Strengths: A focus on the new skills needed for the organization to excel.