While the Covid-19 pandemic hits and reshapes companies, industries, national economies, and our society in previously unthinkable ways, business leaders need to think beyond survival to the opportunities this crisis might create, not only for their own organizations but the greater good.
Consumer companies know all too well that the winner of the innovation race will land the next generation of customers. Yet one blind spot many organizations face as they push to discover “what’s next” is that they equate leading innovation with leading change.
Leaders at Davos are showing a real sense of conviction about doing more for the environment but now need to translate their words into action, says Jill Ader, chairwoman of Egon Zehnder in an interview with Deutsche Welle (DW) at the World Economic Forum.
Unlike their public-company counterparts, which focus mainly on increasing shareholder value, family-business boards must act on behalf of stakeholders with multiple and potentially conflicting agendas – for example, co-owners with equal power and completely opposing financial timelines.