To: The Board of Directors
From:
Subject: 21 st Century Challenges to leadership
Introduction
Change is inevitable in each phase of life. The change in the perception of the community about plenty of things is a product of the information provided to them. The social learning theory states that information that an individual acquires play an integral role in determining their character. With the advancement of time, we have seen changes in a lot of things; dress code, gender roles, and consequently the challenges that people in power have to deal with. This paper shall be looking the 21st-century leadership challenges concerning Global Delivery Direct (GDD).
Problem Statement
GDD has been experiencing a steady decline to the company’s turnovers. The low revenue is attributed to a drop in the sale volume. In light of this, the board members called a meeting to discuss how to stop the decline in sales and possible interventions. Decision-making is the board of directors’ job, and consequently, they sought a leadership consultant to advice and suggest possible interventions. The board believes that there are five challenges to the company’s future and the leadership. These are adaptability, sustainability, innovation, knowledge management, and globalization. We shall explore these challenges as per the company’s current stage.
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Adaptability
As stated earlier, change is the only thing that is constant in every individual or entity. Adaptability is the quality of being able to adjust. We live in a world that is continually changing. The most significant threat to any business is ever-changing customer preference. Evidence of this change and its devastating effects can be seen in the company’s turnover which saw a drop of the sales by 7%. A decrease in sales is an indication of customers seeking other options of the services the company offers. For a company to remain functional and enjoy a long life, there is a need for adaptation.
Being able to adapt provides a competitive edge. Adjustment to meet the needs of the customer will ensure loyalty. The loyalty comes from the satisfaction a customer gets when their needs are met. Customer loyalty provides a competitive edge by maintaining the current clients and new clients that may come through the recommendation of other customers.
To avert the current drop of sales, adaptation is inevitable. The board should seek to rebrand. This includes an adjustment of the company’s leadership style. Leadership seminars can be organized for the leaders at every level to better equip them with knowledge about how to adapt as well as the importance of adaptation. A change in the leadership of the company is advised. However, the move might create tension among the company’s clients which might cause even more loses. All the same, the move might affirm to the stakeholders and clients of the company's desire for better leadership and service delivery.
Sustainability
Business sustainability is the management and coordination of environmental, social and financial demands and concerns to ensure responsible, ethical and ongoing success. This is an important tenet for the survival of the business. GDD fails in corporate sustainability based on the steady drop of sales. This implies that coordination of environmental demands of the customers could be the cause of the dropping sales volume.
The company should set up a consumer interaction channel that allows for free and unbiased comments and suggestions. The move will establish deeper relationship with the customers which will in turn ensure the company’s sustainability. Appreciation and inclusion of customers in forums where they can discuss issues that relate to them is bound to grant the company a competitive edge fostered as the customers will feel included in the running of the company. Secondly, the company should cut costs by gradually phasing out products that experience minimal or no sales at all.
Innovation
Every major business entity is applauded for leading its field in innovation. Apple, Microsoft, and Samsung sales have had very little challenges with sales. The massive turnover can be attributed to the company’s degrees of innovation. Innovation is what keeps a company relevant in these days of shifting consumer preference. Innovation always pushes the bar of product and service delivered. By being innovative, the company will put the business a cut above the competition.
Innovation is essential because it brings with it new products that will grant the company a competitive edge. To foster innovation, the company needs to provide a comfortable environment for the flow of ideas and creative juices. When the employees are in a healthy working space, their productivity is bound to increase. Secondly, the management should encourage innovation by rewarding the employees for their creativity. A promotion for a great innovation is a strategy to keep the employee in-house rather than having them go out to seek a better package.
Information Management
Information is priceless particularly in business. The information might range from financial statements to trade secrets such as patented formulas. Compartmentalization of information is important because the company’s information is private and should only be for the eyes of a few select. Controlling the information at all levels provides accountability in case of any leaks.
In order to provide proper information management, the leadership should adopt the compartmentalization of information like in the case of the meeting that was held in the scenario. The meeting only had the individuals that were meant to be there. Setting up security checks for the access should be made mandatory. Following proper channels in accessing information fosters information security. Secondly, the leaders need to put in place stringent measures for punishment in light of the breach of information confidence.
Globalization
Globalization is essential in the expansion of any business as it extends the company’s reach to potentially new clients. In light of the drop in sales, the company can choose to expand to emerging economies. The competitive edge is established by moving to new markets where the company is bound to become a leader in its field. The competition in the new markets will not be as cruel as it is in developed economies. This is because the emerging economies are yet to be exploited.
The internet has revolutionalized trade as it has created access to people around the globe instantly. The company can create a competitive edge by enabling orders to be made over the internet. This move will increase the scope of the business and possibly help with the deteriorating sales numbers.
Conclusion
Constant changes in customer preferences have necessitated businesses to adapt continuously. Innovation is an integral part of dealing with the ongoing fluctuation in the customers’ preference. In a bid to foster innovation, the board of directors should invest in making the office space a great place to work. Rewarding the employees for great work will cultivate healthy creative competition which might lead to the development of great products and services thereby fostering the company’s creativity.
