The new normal in this economy is shaping up to be anything but normal. Businesses that have thrived for decades as industry icons are now permanently upended by the forces of the Web, social media, and new technologies that are crashing over the economy like a tidal wave.
Industries are experiencing systemic failure as a result of the digital revolution, coupled with an economy stuck in reverse. As noted in the book Macrowikinomics: Rebooting Business and the World, many industries have simply come to the end of their natural lifecycles, and business is going to have to be reinvented around a new set of principles including transparency, integrity and collaboration.
As a result of these changes, the role of the CEO must evolve as well. The next generation of business leaders will require new talents and a different set of skills to successfully grow business over the next decade. A modern CEO will focus on creating a business culture that's expansive, mapping a social purpose to the creation of goods and services. The new CEO will also change the way we think about leadership, and create a bulwark against the tide of business challenges coming our way over the next decade.
In my blog post next week, I will discuss the key characteristics necessary for the modern CEO. These include:
- No Fear Communications
- No Fear Ambition
- No Fear World View
What are your thoughts on the skill set needed for a successful CEO in today's world?