The Key to Transformational Change
Mergers, new technologies, fast-shifting competitive landscapes: More than ever, these events demand vast transformational changes for companies that want to maintain success—or even survive.
Mergers, new technologies, fast-shifting competitive landscapes: More than ever, these events demand vast transformational changes for companies that want to maintain success—or even survive.
Maybe it’s something in the air in Atlanta, but three companies based there—and their CEOs or former chiefs—have emerged as leaders of a quiet but insistent movement by more companies toward what has become known as “servant leadership.” However, it’s a philosophy that business leaders anywhere, in any vertical, can apply just as well.
In today’s interconnected environment of dramatically increased speed and complexity, organizations must be more flexible and agile to thrive—or merely survive. What many CEOs struggle to recognize is that, to enable the iterative evolution of their organization, they too must evolve.
The most successful innovators take a value-capture, profit-oriented approach to innovation.
As leaders, we want our companies to be nimble and innovative. CEOs are increasingly taking the wheel when it comes to directing and inspiring innovation at their companies. However, by leading with the demand for fast and lucrative innovation, CEOs can unintentionally create tension and stress within their organization and create a hazardous “innovate or die” environment.
American technology companies once led the way in developing breakthrough products and services. Today, many firms seem to have lost their innovation mojo.
If you want anything other than status quo, the freedom to risk is essential. Executives who lead outside the status quo create new market engagement, valuable innovation, stronger customer relationships and above-industry growth. Conversely, risk aversion can impact the bottom line in striking ways. A Duke University Fuqua School of Business study found that companies spend more to compensate a risk-averse CEO through incentive plans.
AccuWeather was a pioneer in harnessing modern weather forecasting for business purposes, then in democratizing weather information, and most recently in harnessing big data to improve the company’s weather services for customers and for everyone affected by the weather.
Exelon is a Chicago-based public utility—a traditional, conservative firm. But by some of the moves taking place lately under CEO Christopher Crane—including a new “intrapreneurship” initiative and a flirtation with entrepreneurs known as “Dancing with the Startups”—Exelon seems to be charting a course of reinvention that is unusual for such an old-line concern. And chiefs in other traditional verticals might want to take notice.
The “corporate unicorn” of creative disruption has an allure, and there are certainly times when radical change is required. But while dramatic stories of disruption make great headlines, for far more organizations, innovation focused on achieving significant improvement in existing lines of business is a surer—and more profitable—bet for driving actual results.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.