“In the past, information was passed up through an organisation from the bottom to the top so that only a very small group of people at the top had full insight of the company strategy. Now, everyone has access to all information and this changes how we must act as leaders at the top,” said Rivaz.
The concept of setting a three-year strategic vision for the business may not have a real place in the business world today. The speed of change means this is not necessarily the right approach.
What now? Rivaz says there are three main areas leaders need to focus on in today’s world: the future supply chain; platforms and customers’ needs.
“We need to be very clear what global localisation is,” said Rivaz. “Bringing in goods from a low-cost sourcing base for a customer base located elsewhere may not be the norm in the future. We need to understand the detail and complexity of trade tariffs and the future supply chain.”
Second, she said, procurement needs to understand what platforms are needed and whether these should be internal or outsourced.
Third, Rivaz added, there is a need to understand what the customer wants and whether business leaders are inspiring the rest of the organisation as part of this change.