As organizations face ongoing instability and disruptions increasing pressure has been mounted on leaders to be accountable and respond to these rapid changes.
Traditionally, Boards and Top Teams are not primed on an ongoing basis to address unexpected market disruptions, and this is seen in how boards, management, and employees in most cases have a scatter-gun response. Pardon the pun.
Recent research highlights that 30% of top management teams in the UK, 39% in the US, and 56% in the Australian public service acknowledge that there are disagreements between top teams when it comes to future preparedness and change readiness.
The most recent research on how boards and top teams respond to unexpected disruptions comes from joint research from Alvarez & Marsal, in partnership with Henley Business School. Their findings border on culture- ‘how things are done here’ -to address market disruptions. They identified 4 types of disruptions: transformational, reputational, hostile, and creative.
They offered guidance on facing disruption. The ones that piqued my interest are: \’disruptions require different approaches, and Boards must be strong enough to ‘call out the issue’ at an early stage among others.
These findings and practical guidance go to reinforce the need for Boards and Senior Leadership Teams to enhance the way they work(culture) to respond to extraordinary disruptions and not be comfortable with operating in a steady market environment.
#boardculture, #changereadiness , #managementculture
Photo credit: Shane Rounce
