Leadership in Digital Economy

The world has witnessed a major shift towards the digital age. Leadership is no longer hierarchical- it needs involvement, participation and contribution from everyone.

Today, leaders have to deal with unprecedented and unpredictable challenges and they are expected to create and show the way forward amid disruptions, ambiguity and chaos.

Whatever the business objectives, digital transformation has become imperative. To stand still technologically is equal to fall behind the competition.

Leaders need to create conditions that enable digital maturity, attracting the best talents and bringing out the best in them. They need to empower their teams to work with autonomy and freedom.

Organizations need to create leaders at all levels. Every member of the team should be encouraged to contribute ideas for achieving shared goals.

Technology has shattered the barriers and reduced the distances between industries and people. The world is more connected than ever. The way traditional economies operate is going through a major transformation.

Leaders need an understanding of various business functions and technologies to figure out the right solutions for new situations. It is important to be open-minded to ensure growth even outside their comfort zones.

The hangover of past success can be crippling for the future. It should be the duty of a leader to equip their teams with the skills for the future. The digital leadership will need to prepare themselves and their teams for the future by creating an environment of learning.

With the adoption of new skills and technological solutions, industries will emerge.

In a world which is driven by technology and devices, the leadership skills will make a critical difference.

Leaders need to lead, engage and inspire with optimism, they need to make smart and effective decisions in a rapidly changing technological world. They can use technology to reduce gender, racial or economic inequalities for a vast number of people. By empowering others to solve critical problems, digital leaders will have the power to shape the future of our world.

In our next live webinar, Astorianz Industries will be in conversation with Lt. Gen. Balbir S Sandhu (Retd.) (PVSM, VSM) talking about leadership lessons from the military. You can watch it here.