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New Year Resolutions – Australian Institute of Company Directors
It has been a confronting year for directors worldwide, with constantly evolving external challenges and rising community expectations. The Company Director talks to five experts to explore their perspectives on the trends they’re seeing that boards will need to be across in 2022.
Doing vs being – practical lessons on building an agile culture – McKinsey
Around the world, a growing number of organizations are embracing agility to improve delivery, increase speed, and enhance customer and employee experience. Since COVID-19, many organisations have accelerated their shift to agile. McKinsey’s recent research found that agile organisations responded faster to the crisis, while those that do not embrace agile working may well forfeit the benefits of speed and resilience needed in the “next normal” after the COVID-19 pandemic. Another learning from this research was that culture change is the most difficult aspect of agile transformation to get right.
To learn how four different organisations made their culture shifts, read on...
Defining the skills citizens will need in the future world of work – McKinsey
Digital and AI technologies are transforming the world of work and today’s workforce will need to learn new skills and continually adapt as new occupations emerge. COVID-19 has really pushed fast-forward on this transformation. What skills do workers need to keep pace?
McKinsey conducted research into the foundational skills all workers will benefit from having to help them fulfill the following three criteria, no matter the sector in which they work or their occupation:
add value beyond what can be done by automated systems and intelligent machines
operate in a digital environment
continually adapt to new ways of working and new occupations
This research identified 56 skills that will enable workers to thrive. To find out what they are click here
Why "digital" is no different when it comes to valuation
Making decisions about investment in “digital” can be difficult for business leaders. This article
suggests that it’s important to follow the same principles that apply to all investment decisions. That
is, evaluate digital projects and strategies based on the cash flows they are expected to generate,
making sure to factor in “do nothing” or base-case scenarios as well as the overarching objectives of
the digital project or strategy being proposed.
To find out more about how to do this, read on….
Getting Real – Australian Institute of Company Directors
The enormous mind shift that has taken place regarding environmental, social and governance issues (ESG) is one of the outstanding positive changes to come out of the global pandemic.
The year 2020 offered a reminder of what we value — “sustainability, solidarity, fairness and resilience” — which makes it easier to pursue ambitious goals for people and our planet,
said former Bank of England governor Mark Carney, who now serves as the UN Special Envoy on Climate Action and Finance.
To read more about the strategies companies and organisations are using to address and report on ESG click here.
How companies capture the value of sustainability:
Survey findings – McKinsey Sustainability
Results from a recent McKinsey Global Survey show that companies which generate value from their sustainability programs follow a distinctive set of management practices. Survey results suggest these companies are more likely to:
Make sustainability a strategic priority and set out specific aspirations and targets.
Make sustainability an element of their corporate culture and train employees on how to integrate sustainability into their work.
Engage customers and business partners in their sustainability agendas.
Report that sustainability issues inform how their company manages its facilities and its transportation networks.
Business Disruption and COVID-19 Recovery: McKinsey
Speed has been a fundamental characteristic of the COVID-19 pandemic—the virus hit fast, much of the world went into lockdown and businesses reacted rapidly. For companies to achieve long-term resilience, it is imperative for them to ensure that the speed they successfully unlocked during the pandemic remains sustainable in the future. To do this, organizations will need to take into account not only potential strains on capacity but also the mental health of their workforce and the burnout often experienced by employees. To prepare, businesses need to ask and answer five questions.
What are those questions? Click on the link to read more.
Top 10 Trends for 2021
2020 was a year unlike any other. As we look ahead to 2021, it’s important for leaders to have foresight, and to be able to see things not just as they are, but as they will be. So, what can we expect to see and change in the year ahead?
Top three trends identified are:
Rise of the regions
The return to local
The Nine Traits of Future-Ready Companies: McKinsey
The rollout of COVID-19 vaccines has executives everywhere hopeful for the pandemic’s end. Some are now asking how their companies might emerge stronger—making permanent the survival-mode improvements that brought speed, flexibility, and purpose while avoiding bureaucracy.
Our research finds that achieving these aims requires embodying nine characteristics that collectively describe who the organisation is, how it operates, and how it grows. Start here to help your organisation thrive in an increasingly winner-take-all world.
The first two characteristics are:
Purpose is our “must have” and
Our value agenda is clear.
To see the remaining seven, click on the button below.
Trends for the next normal: McKinsey
2021 will be the year of transition. Barring any unexpected catastrophes, individuals, businesses, and society can start to look forward to shaping their futures rather than just grinding through the present. The next normal is going to be different. It will not mean going back to the conditions that prevailed in 2019. Indeed, just as the terms “prewar” and “postwar” are commonly used to describe the 20th century, generations to come will likely discuss the pre-COVID-19 and post-COVID-19 eras.
“The crisis sparks a wave of innovation and launches a generation of entrepreneurs.
“The future of work arrives ahead of schedule”