Traditionally, strategic management has been the playground for only senior management and leadership positions. Over the years, with dissolving boundaries and disappearing hierarchies in increasingly flat organizational structures strategic management and leadership have undergone a huge change. With people analytics appearing as one major trend in 2018, more organizations are now paying attention to employee experience. Consequently, we are likely to see changes in leadership and strategic management practices in 2019.
The complexity of business growth leads to collaboration in 2019: Business was never an island for any company. More so in the current scenario where so many things are interlinked increasing interdependence, number of stakeholders and information sources. With leaders being unable to handle a mix of all these on their own coupled with political and economic changes; they seek collaboration with the best minds in their organization.
Digitization to manage information overload in 2019: Leaders in today’s organizations are boggled by the mind numbing amount of information. Hence, a key trend is complete digitization of the office space with in-built analytics software which cull data results and present them in the format usable by leaders. This is an important move towards making better and more timely decisions.
Digital skill enhancement among leaders in 2019: With business headed towards existence on the virtual ecosphere, it is necessary for leaders to enhance their digital skills. With analytics becoming an integral part of businesses it is only necessary for leaders who wish to hold their spots to enhance their own skill sets, just like that of their employees.
Empowering employees to don strategic hats in 2019: Just as hierarchical boundaries are blurring so are the typical roles in an organization. Also, with an increase in the operations magnitude of today’s global companies as well as the need for employee experience, leaders are providing project based strategic responsibilities to an increasing number of employees. This is a strategic move to develop and hone leaders for tomorrow.
Qualitative data is just as important in 2019: Though traditionally number crunching has been extremely instrumental in making key business decisions, more leaders are now paying attention to qualitative data. Since customer and employee experience is now a priority, leaders are employing qualitative data analysis to enforce positive changes.
Innovation and creativity is getting a boost in 2019: Leaders are realizing the challenges of the complex business environment. They are therefore encouraging strategic collaborations across teams and different business units in their company to provide a boost to creativity and come out with innovative solutions to complex business problems.
Contextual problem solving in 2019: Another emerging trend for 2019 would be contextual problem solving. External environment can create situations which may need adaptation of a business’s internal environment. Leaders are understanding this need and paying a lot of attention to the entire business ecosystem.
With the above trends leadership and strategic management is sure to break new frontiers in the coming year.