However, there are also new opportunities emerging on how to transform organisations and make them more effective. Social media provide unprecedented capabilities to communicate share and collaborate beyond the boundaries of traditional hierarchies and company borders. Enterprise web 2.0 and eventually semantic web can literally turn organisations upside down. It can potentially free up the immense human potential that is currently locked up and under-exploited in large organisations. However, this will need courage and a major change in the management philosophy of most companies. It means changing the organisation from a top down hierarchy with strong bureaucratic features into a network, where horizontal communication and collaboration defy the old silos. Here technology can play a tremendous enabling role. It will however, only achieve its potential if management plays its role as transformational leaders on the people side. Technology is a necessary condition but by no means sufficient.
What I was describing as fundamental roles and responsibilities of managers and business leaders has significant impact on society at large. It is not only about tactical improvement of the business performance.
74 Management Today | May 2012
In the wake of the crisis management has lost a significant part of its trust capital in society. The latest Edelman trust barometer reflects this development
http://trust.edelman.com/ trusts/declining-trust/not- meeting-expectations/
Business is far from meeting expectations of the public with the most notable gap in the treatment of employees. While it is considered of utmost importance (64%) the actual performance is perceived at 27%, leaving a huge “Trust- Gap”. Other key areas such as customers before profits or ethical business practices do not fare much better and all point in the direction of a serious loss in credibility as a player in society.
How can trust be restored and legitimacy regained? Business needs to repair the way the core business is being run by applying and utilising genuine transformational leadership. Responsible leadership will manage the business for long term sustainability as a business providing long term value to all its key stakeholders.
For a full biography of Dr Richard Straub please see the March 2012 issue of Management Today. If you missed that issue, please email us:
info@management-today.co.za
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