From 600+ conversations with the world’s leading thinkers.
There simply isn't enough creativity and bandwidth at the top to deal with the level of complexity and change in today's world. In bureaucratic structures, a small group of leaders can hold the organization's capacity to change hostage to their own personal willingness to adapt.
We've ended up with organizations that are less capable than the people inside them- which is a little ironic when you think about it. Research shows that 89% of people are happy with the actual tasks of their work yet are frustrated with the work-environment- they are bothered by how they're managed not what they do.
There is no business without creativity. And I think we have a lot of examples of great organisations that didn't want to be creative. Kodak is a good example, they didn't want to see the digital world! Creativity for me is the first condition to establish yourself as a leader in whatever you do in life.
We're only just acknowledging the importance of those relationships. They're incredibly important because when they're positive, they're a source of joy, energy, productivity, and resilience. There's a lot of research that shows that when we have friends at work, we are more resilient, and we perform better.
Scaling any business is about creating a model, debugging the model, making sure you understand the ingredients that need to be scaled up, and making sure you have a process to scale. All of this needs to be wrapped-up in a financial model that allows the scale to be funded.
So not only has average pay gone down, but the job has got riskier.
The vision for Zappos was for it to be about the very best customer service and for the Zappos brand to be synonymous with the very best customer service. In order to do that, we had to build a culture where employees genuinely wanted to provide great customer service — where it wasn't a department, but a way of being.
Ultimately, we want to make it unnecessary to be a B Corp – we want it to be just the norm of how all businesses are run, but that means we have to change the rules of the game and the role of business in society.
The second big change I foresee is the continued convergence of the complex OTC derivatives market and the exchange traded futures and equity options market. Those lines will continue to blur due to regulation, legislation, increased capital and margin requirements, increased requirements for trade reporting, and increased pre and post trade price transparency in OTC markets.
Kodak had been living in linear-time, something which is intuitive to most of us, where we think in days, weeks, months, years… The world had already started to shift when people like Steve Jobs started to take-advantage of the fact that you could connect the dots.
Corporations find themselves in a bind, torn between clinging to the notion of solely enhancing shareholder value and making vague promises to cater to all stakeholders, which can be perilously misleading.
To be the CEO of a company, particularly of a B Corp, you require a set of transformational skills and the ability to think broadly, and over long time horizons. You need to be able to consider the interplay and interdependencies between the business and its various stakeholders.