With the advancements of globalisation and technological advancements taking place every day, businesses from all around the world face the need to adapt to the changing situations, quickly and efficiently. Leadership, thus, also faces the same need to evolve alongside these new developments taking place across the globe.
However, how exactly has technology reshaped leadership in the modern world? Read on to find out more about some of the implications caused by the merger of technology and leadership.
Projects can now be managed remotely
In a study conducted by IWG which surveyed 18,000 business professionals across 96 international companies for the study, it was found that 70% of professionals work remotely for at least one day a week. CEO of IWG, Mark Dixon, also said that “technology was the primary driver of changing perceptions around locations and working hours.”
Digital revolution has thus resulted in video-conferencing platforms to take the lead in today’s working world. The Work-From-Home systems set up worldwide in light of the Covid-19 outbreak displays how projects are being managed remotely.
Employers and employees no longer need to be physically present within the same office to conduct team meetings or discussions. The rise of platforms like Zoom, Skype and Microsoft Teams has made remote working conditions extremely feasible and accessible for everyone today.
Technology has reshaped leadership in such a way that business leaders can easily check in with colleagues and manage multiple projects with their employees remotely.
Diversity and expansion of new markets can now be easily explored
As technological advancements are being made, business leaders are expanding into new markets while diversifying their companies. Organisations are also learning more about the positive outcomes that can be gained as technology reshapes leadership in the modern world.
For instance, in 2019, Bankwest – an Australian full-service bank and one of BeingVR’s clients – used a VR experience for its leaders to see in action the concept of inclusive leadership taking place. This allowed the leaders to recognise the importance of diversity and how it can help the company attain better performance. The simulated interactions between colleagues better allowed them to “shift how businesses address prejudice and bias in the workplace”.
Technology has also reshaped leadership as businesses expand into new markets. Leaders are now looking into “investing in the economies of Asia, Latin America, Central and Eastern Europe, the Middle East and Africa” as these countries are shifting into technology-fuelled transformation.
As such, diversity and the expansion of new markets are being easily explored as employers understand how technology has reshaped leadership today.
Influencing without authority
One branch of technological advancements has led to the formation of widely used social media platforms that include, Facebook, Twitter, Instagram, Whatsapp and many more. In this respect, technology has reshaped leadership as individuals are now able to influence the general public without wielding authority.
According to an article published by Virgin Group, “leadership is no longer about direct power, but about influence”. Understanding this concept can allow organisations to capitalise on the power of social media platforms to “build customer loyalty” and bring awareness to their business.
The merger of social media platforms with companies have also led to a new form of business strategy known as “Influencer Marketing” to take stage. Individuals who carry strong social media presence and influence over an audience can easily collaborate with businesses to “promote a product, service or campaign” today.
Influencers including “bloggers, vloggers, industry experts and thought leaders” wield immense power to promote businesses in today’s world. A bad review or experience from these individuals could severely tarnish an organisation’s reputation too. Influencing individuals (without authority) on social media platforms is yet another example of how technology has reshaped leadership in the modern world.
Technological advancements in the modern world have had serious impacts on businesses and their leadership strategies. For the corporate world, technology has become one of the most powerful tools in today’s world to help them push their businesses forward.
Projects can now be managed remotely while the expansion of new markets and diversity can be easily explored. Additionally, the rise of social media has also allowed influencers to take the lead without any formal authority to their names. Understanding how technology has reshaped leadership and investing in learning more about its uses can help businesses garner immense profits in the coming future.
StrengthsAsia has helped many individual and corporate clients all throughout the region in empowering leaders by enabling breakthrough experiences for both leaders and followers. If you want to learn more about the Strengths Leadership Program, feel free to reach out to us here.