Embracing lopsidedness will—and it must—become more prevalent. The modern business world is complex. Dealing with complexity is a team sport. It requires deep expertise across a range of topics, each of which may be possessed by different individuals on your team.
A business relationship is more about mutual benefit than loyalty and trust. It is always better to understand and know what kind of friend/employee/employer your business associate is than to be surprised when their ‘just business’ stance puts you at a disadvantage.
Most business owners have no written exit plan, as a result of which, a vast majority of privately held businesses that are taken to market do not sell, and a good number of owners who do sell regret it within one year. An MEP is a comprehensive step-by-step guide that provides business owners with the information needed to take decisive action and prepare for the business’ eventual sale.
As industries change more radically, there may be no silver bullets to stay relevant as a CEO. What is certain, however, is that CEOs need to rethink their skill set and possibly embrace very new ways of leading their organisations and looking for new talents to stay relevant.
All around the world, impact networks are being cultivated to address complex issues in healthcare, education, science, technology, the environment, economic justice, the arts, human rights, and more. They mark the next evolution in the way humans are organising to create meaningful change.
Competent boards can no longer afford to put ESG—environment, social, and corporate governance—issues on the back burner. Companies need to learn from the mistakes of others and should ignore these at their own peril.