How Will The Future CEOs Be Like?

Evolution promises growth and transformation. This fast-growing contemporary world demands timely conditioning we need to bring out the best version of ourselves regardless of age or gender. Corporate management is one sector that challenges you, the benefits of which can be reaped if one can overcome a challenge. We need more critical thinkers and problem solvers to mentor corporations to reach the pinnacle of success. Positive reformation in the corporate world requires a shift in the mindset; from profit to purpose, from controlling to empowering employees, from hierarchies to networks, from planning to experimentation, from privacy to transparency. These are some of the fundamentals of the CEOs of today.

If strategy-building was the only objective of all CEOs, then all the unicorn companies may have only remained limited to just four walls instead of gaining global recognition. For that, execution is mandatory. Many are the CEOs of today, but very few become the CEOs of tomorrow. CEOs of tomorrow will learn from their fractured policies, level up from good to great by having the ability to take risks and cultivating a unique futuristic vision.

Corporate Management is aided with manpower optimization and technological advancement. Without technology, efficient management, and customer behavior analysis get blurred rather invisible. The scope of growth mellows down without having the tech-savvy expertise, CEOs need to incorporate necessary changes. In today’s world, we hire employees based on not just experience, but also passion, soft skills, proactive approach, creative thinking to fill the loopholes in the existing corporate culture. Either you can follow rules, or you can modify existing rules. In the next 10 years, this will change drastically.

When people hear the word CEO, they tend to visualise a probe of entrepreneurial greatness. A Harvard study revealed that CEOs may not necessarily share the stereotypical qualities that are usually associated with their role instead, the chances of sharing the traditional qualities such as prioritization skills, listening, and innovative thinking with cross-functional fellow leaders.

Some of the basic qualities entrepreneurs commonly seek in their business partners are risk-taking abilities, the scope of adaptability, walking head-to-head with the latest trends. Liaising with your colleagues, business partners and bureaucrats requires good communication skills, and a CEO needs to be qualitative in that.

According to McKinsey, CEOs tend to show a greater sense of passion and purpose for what they do than other members of company leadership. Cameron Herold, a leader in C-suite leadership and business growth said the smartest CEOs are open to hearing new perspectives are vulnerable, and are always a learner. Only the leaders in this context CEOs who are open to learning, are capable of growth. When it comes to communication, Navalent study claims that top executives share the ability to remain consistent in their forms of communication. The approach of a remarkable CEO remains neutral with all parties. They create opportunities based on realistic optimism. A clever move can change the dynamics and position of a company. Above all, CEOs of tomorrow should have the desire and ability to lead a company towards competitive success which is often derived from ethical commitment over financial gain.

The psyche of a CEO dictates the vision of a company. Assigning tasks efficiently and assertively comes naturally as a by-product. Although a CEO is fuelling the organization

without a smart team of employees, he/she cannot start the engine alone. Future CEOs will encourage more brainstorming sessions, would be emotionally intelligent and resilient. The proficiency to turn unanticipated situations into positive results is the key objective of a coherent CEO.

Catching up to the Speed

A decade later, speed will be the major factor by which growth will be computed. By speed of communication, travel time, expansion in network ranges, decision-making, artificial intelligence, technology bandwidth, etc. Future CEOs need to be technologically aware and knowledgeable at the least. Advanced robotics, last-mile deliveries, logistical advancement, technology-driven manufacturing of goods, and so much more discoveries are yet to surprise the world. The active competitors may not take long to dominate the market if strategies went loose. Hence, it becomes crucial for the first in line to keep leveling up and remain ahead of the game.

IT-related businesses will be one click away to find out analytical data for any or all purposes, from targeted strategy-making to easy integration of marketing automation workflows. Not many business reviews and performance reviews will be required. For a CEO, building constructive networks would be a common phenomenon to enable mutually benefitted relationships. Reading the capabilities of employees through personality development methodologies based on a CEO's smart experience will be considered as a nurtured skill.

Fostering dispositional evolvement

Transparency is a key factor to gain the trust of the executives, further amplifying the accountability of the company’s employees. Overall, it assembles a common vision within the organization for efficient results. The uprising CEOs will be multifunctional, intelligent enough to bounce back from failures and push forward towards exponential growth.

CEO's demeanor complimented with honesty and humble attitude will be appreciated. Work will speak for itself, as the entire generation will become smarter, self-reliant, and most importantly skillful. Internet expansion will be a catalyst to make it possible. A pompous attitude is likely to take a back seat and humility amongst the management will be in the forefront. Philosophical rationalizations won’t stand any ground without the factual description of thought.

Start-ups and businesses are going to face a revolutionary change on the global front. B2B, B2C, and D2C, all will be streamlined progressively towards business development. Based on the current patterns of surfacing industries like FINTECH, IT, a distributive blueprint of the future can be drawn. New entrepreneurs of any dialect or pastoral regions from all over India will co-exist without any classification simultaneous to the entrepreneurs of metropolitan cities. This will stock up the start-up market with potential untapped fields.

Knowledge distribution via marketed Artificial Intelligent means will streamline the innovators of tomorrow, propagating them to think like a CEO. Top management skills will be completely accessible through digital platforms and cleverly mastered through a radical approach.

To summarise, the anticipated CEOs of the next generation will excel most definitely with optimism, confidence, global exposure, adapting to the wide horizon, having a universal vision, work ethics, tech-savvy, networking mastermind by keeping up with the latest trends or ongoing advancements. Must have an appreciation for AI technologies, IT tools, extensive use of robotics, data analytical thinking, firmly supported with rapid speedometer mindset and execution capabilities. A new era awaits!

(The article has been penned by Harsh Wardhan, CEO, CSC India with no view input from BW People publication)