Report reveals how bosses are grappling with a changing business landscape
In a worrying survey, nearly one in three (31%) British employees have expressed underconfidence in the leadership of their company to create and run a modern digital infrastructure, states The Advanced Trends Report 2017 published at Confederation of British Industry’s (CBI) annual conference today.
Talking about how businesses’ ability to innovate and embrace the digital era is fundamental to the prosperity of our economy, Tom Thackray, director for innovation at CBI, said: “It is vital that British businesses have confidence in their organisation’s leadership to deliver digital strategies that will support growth and create new business models for the future.”
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The digital era represents the 4th Industrial Revolution where the adoption of technology and the emergence of digital-first businesses are transforming industries. In such a fast changing landscape, the chief executive officers are reportedly struggling with a changing business landscape that includes Brexit, increased cyber threats and the General Data Protection Regulation.
The survey, of about 1,000 professionals in UK organisations, asked about the most important attributes for a leader in the digital era, majority of the employees said leaders should be able to embrace change (82 per cent) and be able to think and react with pace (67 per cent).
“Businesses will not succeed in the digital era without a strong, skilled and admirable leadership team,” reiterated Gordon Wilson, CEO at Advanced. “A lack of confidence will only demotivate employees, thwart productivity and cost businesses money. Ultimately, it will leave leaders trailing behind those that do have the leadership attributes to reimagine their business and embrace the opportunity of the digital era,” Wilson added.