The Baylor University – Hankamer School of Business is exploring strategies for Leadership in the 21st Century amidst a business environment defined by volatility, global competition, and a need for innovation and purpose.
In the Baylor Business Review, journalist Eric Krell investigates strategies that defined success in the past, as well as today. According to retired managing partner and former Hankamer Advisory Board member Ed Fiske (BBA ‘74 MBA ‘75), it should come as no surprise that some of the same leadership skills which led to success historically are still relevant today.
“Many of the capabilities that effective leaders possess today are similar to the skills they needed 10 or more years ago,” says Fiske. However, while these leadership competencies were important a decade ago, their importance to the organization has increased exponentially today, given the challenges companies face.”
The capabilities Fiske referenced above involve a combination of leadership skills and management capabilities, which can together work towards a company’s growth and sustainability in today’s tumultuous business environment. According to Forbes.com blogger Larry Downes, even major companies like Best Buy could be facing major trouble if their leadership teams aren’t prepared for such important factors as globalization, volatility and technological change.
According to Kirk Coleman (BA ‘93), Accenture partner and member of the Baylor Angel Network and Hankamer School of Business Advisory Board, believes that successful leaders focus first and foremost on values. In particular, Coleman notes, successful leaders devote attention to becoming continuous strategic partners, cultural caretakers, virtuous leaders, and active listeners, among other virtues.
In addition to these skills, the importance of leadership development and succession planning can also not be undervalued. Such internal processes are necessary to sustain a company and ensure future success.
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