CEO 3.0: Executing impactful business journeys

CEO 3.0 is set to be the biggest shift that will change the corporate world

The world CEO immediately conjures up an image of an individual dressed in an elaborate corporate suite directing a powerful C-suite round table for important decisions and reviews. The CEO is a title that denotes power, authority, and elegance.  While such a view of a CEO may certainly be true in the conventional sense of the word, the contemporary idea of a CEO and what the title denotes is undergoing a transition.

The biggest shift perhaps comes from the CEO 3.0 philosophy that is set to take the corporate world by storm. So, what does the CEO 3.0 philosophy denote and why is it so intriguing in the current context?  Based on insights from Forbes, let’s delve deeper into the new-age CEO mindset that emphasizes on international experiences and leveraging digital tools in a world that is moving towards ubiquitous connectivity.

Can CEO’s also be remote and digital leaders?

Jakob Mähren, one of Germany’s most successful real estate entrepreneurs, has campaigned for the CEO 3.0 ideology. In comparison to 20 years ago, the duties, skills, and, talents required to run a firm in this decade have changed dramatically, according to the Berlin-based CEO.

Most significantly, these responsibilities continue to evolve at a rapid pace. As a result, it should come as no surprise that one of the most important aspects of CEO 3.0 is an emphasis on remote and digital management.

Many company executives were obliged to adopt this new digital-first orientation in the midst of the COVID-19 outbreak, whether they liked it or not. Those who had previously begun to accept a range of technological possibilities were able to rapidly adjust to the new style of working. Those who were reluctant to embrace such tools and methods struggled mightily to manage their teams and keep business running as usual. [box type=”success” align=”” class=”” width=””]Jeff Bezos and Elon Musk are examples of great leaders who have leveraged digital tools and high-tech solutions to adapt to ever-changing business conditions and achieve enterprise success. Today, CEOs must imbibe a holistic technological vision for the business to segue effectively to new changes that would give them an edge.[/box]

Why a strong vision and reach matter?

A critical business aspect today is the opportunities that increased interconnectedness we see in the world offers for business growth.  For instance, a solopreneur in the centre of Oklahoma might theoretically land clients from the four corners of the globe. While digital technologies have helped level the playing field in terms of global reach but they cannot always substitute real-life foreign encounters. Instead, this may be accomplished by visiting partners and clients in other countries on a regular basis, when it is possible.

Another facet is that digital technologies are not a substitute for real-life foreign experiences despite levelling the playing field with regard to digital geographic reach. International travel is still important for many founders and CEOs in terms of networking with new business chances. You take advantage of meeting new business and personal contacts every time you travel. Exchanging ideas with people from other backgrounds and cultures allows business leaders to expand their horizons and generate fresh company ideas. When done correctly, worldwide exposure may assist you in innovating and expanding your firm on a global scale.

However, in dire times, digital analytics can help take better market decisions that would help businesses make a specific geographic impact. A mix of real-life experiences coupled with digital analytics is perhaps the best way to go forward.

Can digital communication enhance results?

The use of digital communication to coordinate work across several time zones is a crucial part of the CEO 3.0 ideology.

[box type=”info” align=”” class=”” width=””]After you build a connection, continuing to collaborate — especially globally — might be difficult. When working with a team that is geographically varied, the same is true. While email is a good beginning point, organizations have access to a plethora of other tools that guarantee that their communications get through the potential gaps.[/box]

True innovation emerges when digital communications tools make it so much simpler to cooperate and stay in touch. Even engaging on social media may aid in the maintenance of ties that may be beneficial in the future. CEOs must emphasize on consistency and seek out opportunities to build greater trust in the digital landscape to enhance business sustainability in the long run. After all, the digital landscape is the place where businesses can make a lasting impact.

[author title=”About the author” image=”http://”]
Lionel Alva at ET Edge Insights[/author]

 

 

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members

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