Paul Griffith, the world’s first Professor of Management to lead a team to launch a rocket, will lead other top-notch faculties to guide leaders in navigating successful paths in the present volatile times affecting all organisations.
Griffith will share insights into actionable survival strategies during the TEXEM UK’s coming programme in Birmingham from Nov. 21 to Nov. 24.
In an interview on TEXEM’s website (www.texem.co.uk), he said uncertain times bring out an excellent opportunity for stakeholder-led organisations to prosper.
Griffith spoke on ways an organisation could develop and innovate stakeholder value propositions while still navigating uncertainty.
According to him, during uncertain times, stakeholders’ needs often change.
“By understanding these new requirements and developing the value propositions to help stakeholders solve their problems, organisations can engender great loyalty with existing clients and attract new stakeholders who become advocates.
“It is also an opportunity to innovate to provide solutions to non-customers – where a different option suddenly becomes attractive to them,” Griffith said.
He also spoke on the benefits of digital transformation for organisations that want enhanced business performance and profit after the COVID – 19 era.
“The point of a digital transformation is not to become digital; it is to generate value for the organisation and your clients.
“Successful leaders show high curiosity and agility to look past their current business to reimagine where transformative value and growth is possible.
“So, digital transformation is a driver for organisations to develop an enhanced stakeholder-centric culture, more innovative processes and the ability to understand and respond quicker to a more volatile and uncertain environment,” Griffith said.
He also highlighted how an organisation might ensure digital transformation without staff rationalisation so as not to hurt performance noticeably.
“There is a lot of debate about how the digital World of the 21st Century will change the skills required of employees.
“We can see that new skills are needed, and different roles in organisations appear as digital systems and processes become embedded in organisations.
“Those digitally transforming organisations are improving their performance – the most valuable and fastest-growing companies in the world demonstrate this,” Griffith said.
He said that for these organisations, more staff are required with different skill sets, such as data analytics of deep data, artificial intelligence, quantum computing, the internet of things and different working methods.
Griffith said the challenge for organisations is developing and training their existing staff in these new technologies and ways of working whilst attracting new talent with digital skill sets to unlock valuable, rare and inimitable resources for sustainable success.
On possible strategies to be prescribed for organisational success when predictions of prosperity are not certain, he said strategy is about ‘choice’.
“In a more uncertain environment, making these choices becomes harder.
“How does the strategy reflect a focus on core areas for investment and still place bets for new opportunities in an unclear and fast-changing commercial context?
“During the COVID pandemic, those organisations that focused on using their ‘purpose’ as the touchstone for their decision-making appear to have performed better.
“This was because they were clear on why they exist and the problem(s) they are solving for stakeholders, and setting these at the centre of their strategic choice-making has served them well,” Griffith said.
He explained why executives from the public and private sectors should attend TEXEM UK’s forthcoming programme with the theme: Strategic Leadership for Optimised Organisational Performance in an Era of Uncertainty.
“With a more uncertain environment, those organisations that perform best are distinguished by their leadership capability more than ever.
“Those leaders who can demonstrate clarity and purpose of their strategic choices, exemplify being stakeholder-led and translate and communicate their strategy through the organisation are best placed to deal with the challenges of a volatile and complex world.
“By joining this impactful TEXEM programme, you will be exposed to the thinking and frameworks that drive the development of the 4,000 executives that TEXEM has helped to develop their leadership capabilities in the past 12 years,” Griffith said.
Other TEXEM’s faculties that will join Griffith include Harvard’s Founding Director of Maximise your Board programme, who was until recently an advisor to the Prime Minister of the Netherlands.
Also, world-renowned Ambassador Charles Crawford and Gerald Baldwin, CEO of Cadbury World, will also deliver sessions at the TEXEM programme, Strategic Leadership for Success in Volatile times. (NAN)