New Horizons in Management series
Edited by Mitchell G. Rothstein and Ronald J. Burke
Chapter 17: Preparing Next Generation Business Leaders
Philip Mirvis, Kevin Thompson and Chris Marquis As in past economic transformations, major institutions of society are being redesigned. The recent surge in global integration has brought millions of people into the expanding web of global commerce. Countries formerly considered on the financial fringe are now participants in the modern marketplace. Empowered consumers, angered by business misconduct, are demanding more regulation, and interests of all kinds, including the next generation of people moving toward executive ranks, are calling for socially responsible business behavior (cf. Googins et al., 2006). Meanwhile, increasing numbers of people and devices are linked via the internet, extending companies’ and people’s reach and providing opportunities to make more of what we do smarter. Dynamic systems underlying this epochal change have altered the way businesses work, and the skills executives need to lead their people and organizations forward. Here we will describe how changes in the traditional office environment, work team composition, reporting structures, corporate control and authority systems, as well as increases in the numbers and types of stakeholders making claims on companies, and the shift in developed countries from making products to providing solutions have together added significant complexity to the next generation leaders’ work. Amidst all these changes, business leaders still have to do what they’ve always had to do: produce growth, deliver results, develop their people, and innovate to meet marketplace needs and beat competitors. What will it take for next generation leaders to be successful in the redesigned business world of the twenty-first...
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