Studies show organizations with strong leadership are 13 times more likely to outperform their competition, and three times more likely to retain their most talented employees. CEO personality alone can account for a 29% variance in profitability, which is nearly four times more than the corporation itself (8%) or its industry (6%). And research suggests that top management has a much greater impact on organisational performance than even the CEO.
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Deloitte’s Global Human Capital Trends Report 2016, which reports the findings from a survey of more than 7,000 business leaders in 130 countries, showed that companies are placing a new emphasis on deconstructing their traditional hierarchical structures, “decentralizing authority, moving toward product- and customer-centric organizations, and forming dynamic networks of highly empowered teams that communicate and coordinate activities in unique and powerful ways.”
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Today, technology empowers small businesses to compete with the world’s corporate giants in the global marketplace, and social media allows public opinion to turn on a dime.
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