Leaders must be forethoughtful to read business sentiment with clarity, set guidance to drive changes, catalyze innovation, and solve problems effectively.
The multidimensional digital effects provide impressive advantages in terms of the business speed, the abundance of information, and the quality of the workforce. If running the business in a transactional mode only can cause digital ineffectiveness in the long run.
Innovation guidance: Innovation is a process for transforming ideas to achieve commercial value. Innovation does take systematic processes from idea management to innovation implementation. On one side, breaking rules is indeed an important part of creativity; on the other side, innovation needs a level of guidance. So the term innovation process implies an openness to innovative ideas, with an accepted interface to actually develop the ideas as they come about. After ideation, companies need to filter, prototype, and validate their ideas. Innovation fails usually because that innovation invariably has not had top executives’ guidance and sponsorship. So, the right level of guidance is important, but overly rigid processes or too ‘pushy’ goals will stifle innovation.
Guidance for problem-solving: Problems become more complex in today’s changing dynamic, it’s important to provide guidance for problem-solving. Try not to fixate on single narratives but listen to more feedback and diverse viewpoints. Insightful guidance helps to prioritize important factors such as requirement, quality, and cost when architecting solutions to make business more productive, collaborative, and smarter. In fact, a digital paradigm is an emerging ecosystem of principles, policies, and practices that offer guidance and describe how the components and standards of the business work cohesively to solve complex problems systematically.
Guidance & governance: Governance is about steering the organization in the right direction with direct link to crucial business and its processes. In many organizations, much of GRC management is reactive in the sense that there is a lot of rushing around trying to fix problems instead of preventing risks. Thus, guidance is important for governance enforcement, improving people-centricity, including engagement and motivation. Contemporary business leaders like corporate board directors need to be open-minded, forethoughtful, knowledgeable, innovative, gap-minding and committed to practicing the dual role of guidance and governance effectively, They set strong GRC guidelines, clearly define authorities, disciplines, roles and responsibilities to improve organizational transparency, lubricate corporate relationships, and improve business effectiveness and maturity.
In the face of “VUCA” reality, having constraints provides the guidance for running a strategic organization by opening up opportunities and providing anchors to explore from, breaking down something old, creating something new through a holistic worldview underlying the interdisciplinary theories and methodology, experiment, explore, and engage for accelerating performance and achieving people-centricity.