Your browser (Internet Explorer 7 or lower) is out of date. It has known security flaws and may not display all features of this and other websites. Learn how to update your browser.
“It is not the strongest or the most intelligent who survive, it is those who are most responsive to
change”. Charles Darwin
As 2008 draws to a close, battle weary management teams are retiring to reflect on the events of the past year and contemplate what the future may bring.
“So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself… which paralyses needed efforts to convert retreat into advance.” Franklin D Roosevelt
The words of Franklin D Roosevelt in his inaugural address to Depression-era Americans should resonate with the leaders of 21st century professional services firms as we enter unchartered economic waters. However, the work of social psychologists tells us that what really paralyses people is not simply fear but rather the presence of fear without any action plan to reduce it. The “rabbits in headlights” syndrome!
What are the implications for business leaders and how should they respond to ensure that their firms and their people are fit for whatever the future might bring? This is a time for leadership, clarity of direction and tenacity of purpose. There should be an increased emphasis on the four core areas of analysis, decision making, communication and action rather than the beating of a hasty retreat behind the closed doors of the boardroom. Aspects of each of these central competencies are the focus of this issue of HedsUP! which I hope you will find interesting.
At this time of year I’m often asked for my views on the key themes that will affect firms over the next twelve months. Change will continue at an ever quickening pace with structural reforms and the consolidation of clients, firms and panels adding to the pressures on the leadership team. Also high on the agenda will be the need to build an aligned external / internal brand and the changing nature of the psychological contract between the firm and the Generation Y professional.
The need for clear direction, strong leadership, coherent strategy and a focus on excellent execution has never been greater. These are the key dimensions that will mark out the winners and losers in 2008.