{"id":709,"date":"2020-02-10T02:41:27","date_gmt":"2020-02-10T10:41:27","guid":{"rendered":"http:\/\/themanwhosoldtheweb.com\/blog\/?p=709"},"modified":"2020-02-10T02:41:28","modified_gmt":"2020-02-10T10:41:28","slug":"4-leadership-mindsets-critical-to-succeed-in-the-new-economy","status":"publish","type":"post","link":"http:\/\/themanwhosoldtheweb.com\/blog\/2020\/02\/4-leadership-mindsets-critical-to-succeed-in-the-new-economy\/","title":{"rendered":"4 Leadership Mindsets Critical to Succeed in the New Economy"},"content":{"rendered":"\n
\"\"<\/figure><\/div>\n\n\n\n

Technology, Internet, growth, and globalization have metamorphosed the way we work, play, and live.\u00a0 They have even changed the fundamental laws of economics. \u00a0We are living in an economy that is quite different from the old manufacturing-based economy of the 1980s. \u00a0Fewer people are now employed in the manufacturing sector, who are anxious about the prospects of being replaced by machines soon.<\/p>\n\n\n\n

The \u201cNew Economy\u201d is a term economists started using in the 1990s to describe new, high-tech, high-growth industries that have been the driving force of economic growth since that period.  The new economy is also heralded as the Digital Economy, the Knowledge Economy, the Data Economy, or the eCommerce Economy.  Top technology enterprises\u2014including Google, Facebook and Apple\u2014have outpaced traditional firms around the globe by taking advantage of the new economy.<\/p>\n\n\n\n

Leadership Development<\/a> in this age of Digital Economy is a key challenge for most organizations.  More and more organizations, today, are revisiting what they are about and the meaning of leadership for them.  It\u2019s not about one person or even those residing at the top anymore.<\/p>\n\n\n\n

MIT Sloan Management Review<\/a> conducted a study of 4,000 executives from 120 geographies around the world to understand what defines a great leader in this changing world.  The study revealed striking results with most executives believed that their leaders lacked the mindset needed to produce the strategic changes essential for leading in the Digital Economy.  Enterprise-level transformation is what majority of leaders feared to embark on.<\/p>\n\n\n\n

Mindsets are established set of attitudes held by someone that shape how a person interprets and responds to experiences.  A mindset arises out of a person’s view of the world or philosophy of life.  To know about the Digital Economy leadership mindsets<\/a> (i.e. leadership mindsets critical to survive in this new economy), the MIT Sloan Management Review\u2019s global study identifies 4 critical mindsets\u2014based on in-depth interviews from executives worldwide and detailed analysis of data:<\/p>\n\n\n\n

  1. The Producer<\/strong><\/li>
  2. The Investor<\/strong><\/li>
  3. The Connector<\/strong><\/li>
  4. The Explorer<\/strong><\/li><\/ol>\n\n\n\n
    \"\"<\/a><\/figure><\/div>\n\n\n\n

    Let’s define these first 2 leadership mindsets.<\/p>\n\n\n\n

    The Producer<\/strong><\/h3>\n\n\n\n

    Leaders with a producer mindset evaluate each of their customer touch points painstakingly.  These leaders exhibit a passion for producing customer value.  Producers concentrate on analytics, digital know-how, implementation, results, and customer satisfaction.  They focus on analytics to fast-track creativity.  The resulting innovation helps them tackle shifting customer preferences and enhance customer experiences.  The Producers strive to create all the customer journeys enjoyable.<\/p>\n\n\n\n

    The Investor <\/strong><\/h3>\n\n\n\n

    The leaders with an investor mindset make people appreciate the higher purpose they serve by their work.  They constantly struggle to instill motivation and teamwork among their teams in order to achieve their overall organizational goals.  The leaders with an investor mindset are concerned about the communities that surround them.  They look after the well-being and constant advancement of their employees, and devote their efforts to improve value for their customers.<\/p>\n\n\n\n

    Fostering these types of mindsets is critical to building the right Organizational Culture<\/a> for an organization to be successful in the Digital Economy.<\/p>\n\n\n\n

    Interested in learning more about the leadership mindsets required to win in the new economy?  You can download an editable PowerPoint on Leadership Mindsets Critical to Succeed in the Digital Economy<\/strong> here<\/a> on the Flevy documents marketplace<\/a>.<\/p>\n\n\n\n

    Are you a Management Consultant?<\/strong><\/h3>\n\n\n\n

    You can download this and hundreds of other consulting frameworks<\/a> and consulting training guides<\/a> from the FlevyPro library<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Technology, Internet, growth, and globalization have metamorphosed the way we work, play, and live.\u00a0 They have even changed the fundamental laws of economics. \u00a0We are living in an economy that is quite different from the old manufacturing-based economy of the 1980s. \u00a0Fewer people are now employed in the manufacturing sector, who are anxious about the […]<\/p>\n","protected":false},"author":3,"featured_media":710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[399,311,276,401,400],"class_list":["post-709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-digital-economy","tag-digital-transformation","tag-leadership","tag-leadership-development","tag-leadership-mindset"],"_links":{"self":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts\/709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/comments?post=709"}],"version-history":[{"count":1,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts\/709\/revisions"}],"predecessor-version":[{"id":711,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts\/709\/revisions\/711"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/media\/710"}],"wp:attachment":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/media?parent=709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/categories?post=709"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/tags?post=709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}