Political leaders advocating measures in the short term to ensure a long-term solution to the global debt crisis is a concept with which we have all become familiar. But are business leaders following the mantra of short-term steps for long-term gain when it comes to their own leadership strategy?
On the second day of the Women’s Forum for the Economy and Society in Deauville, this proved an interesting point for discussion. The conference theme of “What if? Challenge, imagination, commitment” was stimulus for a debate around what companies are doing to challenge the status quo of leadership, the vision for workforce diversity in the future, and what companies should action now to achieve those aims.
In the current recessionary climate, it is common for business leaders to take the decision to “hunker down” and postpone any innovative initiatives or plans for the company until the bad weather has passed. Echoing this point, a number of participants in today’s discussion commented that their organization’s strategy is steered quarter by quarter rather than taking a longer-term view. The general consensus was that there are certain things that business leaders know they should be doing, but it is very difficult to focus on these when the mentality is to just get through the difficult period the best we can. However, this approach is flawed.