Leadership In A Volatile World

How rising global and business uncertainties are forcing CEOs to think on their feet.

- Ajita Shashidhar

THE BIGGEST LESSON the pandemic taught businesses was to be agile and respond to change faster. Phrases such as ‘flexibility’, ‘adaptability’ and ‘purpose’ have never been taken more seriously. Even though the pandemic may have been a once in a lifetime ‘black swan’ event, the reality is that volatility, uncertainty, complexity and ambiguity are now a way of life. And just as one thought pandemic-related disruptions were at bay, geo-political events such as the Ukraine-Russia war and climate-change disruptions like the water level of River Rhine (used extensively for logistics) reducing in 2021, threw global supply chains in disarray. Leaders worldwide have been burning midnight oil trying to figure out ways to localise sourcing to make the supply chain more resilient.

In this fast-evolving world, the role of MD/CEO has turned utterly complex. The days when leaders had the luxury of crafting only growth and profitability oriented strategies are far behind. From rising to the occasion each time there is a geo-political tension or a natural calamity to ensuring the organisation embraces sustainable practices and trains its people for the changes ahead constantly, the to-do list of the leader is inordinately long. To add to all this is the ever-changing consumer behaviour and trends such as the rise of quick commerce, forcing companies to be on the edge at all times. About 45-50% of ITC’s e-commerce revenue comes from quick commerce, for Tata Consumer it is 35%. From innovating to setting up dark stores in the middle of the city so that consumers get their orders within 10-15 minutes, the game has changed.