{"id":1597,"date":"2017-09-20T00:01:39","date_gmt":"2017-09-19T22:01:39","guid":{"rendered":"https:\/\/www.druckerforum.org\/blog\/?p=1597"},"modified":"2017-09-18T21:10:35","modified_gmt":"2017-09-18T19:10:35","slug":"gpdf-2017-growth-and-inclusive-prosperity-by-mark-beliczjy","status":"publish","type":"post","link":"https:\/\/www.druckerforum.org\/blog\/gpdf-2017-growth-and-inclusive-prosperity-by-mark-beliczjy\/","title":{"rendered":"GPDF17 GROWTH AND INCLUSIVE PROSPERITY <br \/>by Mark Beliczky"},"content":{"rendered":"<p>While the world has experienced an unprecedented period of <a href=\"http:\/\/www.worldeconomics.com\/papers\/Global%2520Growth%2520Monitor_7c66ffca-ff86-4e4c-979d-7c5d7a22ef21.paper\">economic growth<\/a> for the past fifty years (positive annual GDP growth in 54 of 55 years since 1961), the global economic growth rate in terms of GDP and measured in decades is 31% lower today than it was in the 60\u2019s. Also, it is important to note that the world GDP per capita has also declined 37% since the highs of 1960s.<\/p>\n<p>The challenge for business leaders in today\u2019s slower\/slowing growth period is to find ways to reverse the trend and to shift and propel their organization into growth mode. The growth engine can be stimulated and energized, not with real capital, but with a greater LEADERSHIP focus on human capital. This can be achieved by: (1) looking internally, assessing and formally embracing an \u201cengaging\u201d and a more inclusive workforce as well as social\/community engagement \u2014 embracing and practicing <i>\u201cdoing good while doing well,\u201d and (<\/i>2) recognizing and responding to the VUCA World.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Inclusiveness and Diversity: Improving Corporate Performance, Drive Growth, and Enhance Employee Engagement<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>For years compelling research has verified and validated what has been known for some time \u2014 that <a href=\"http:\/\/journals.sagepub.com\/doi\/full\/10.1177\/1745691615598513\">diversity and inclusiveness<\/a> achieves more positive and sustainable results: \u201ceffective decision making, innovation, and economic growth by promoting deeper information processing and complex thinking\u201c. Further, as more and more leaders understand and embrace the <a href=\"http:\/\/www.ugmconsulting.com\/Leveraging%20the%20Contributing%20Belonging%20Cycle%20UGM%20Newsletter%20September%202009.pdf\">\u201ccontributing-belonging\u201d<\/a> cycle (\u201cthe more people feel they belong, the more they will contribute\u201d), the easier their path will be to real and sustainable growth and well-being.<\/p>\n<p>A significant milestone to formally address inclusion and diversity occurred earlier in 2017 when <a href=\"https:\/\/www.ceoaction.com\">150 CEOs<\/a> \u00a0from leading global companies across the US signed a commitment and pledged to \u201ctake action to cultivate a workplace where diverse perspectives and experiences are welcomed and respected, where employees feel encouraged to discuss diversity and inclusion\u2026\u201d This movement, and now an organization known as <i>CEO Action for Diversity &amp; Inclusion, <\/i>will be sponsoring a summit this fall where they will assess: \u201cinitial progress, understand fundamental gaps, and determine the next phase of this work.\u201d It is likely that CEOs and from other areas of the world will see this as a call to action.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Leading in Today\u2019s VUCA World \u2014 On Becoming a SuperAccelerator Company<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>A major challenge for business leaders today is effectively navigating in the <a href=\"http:\/\/www.oxfordleadership.com\/leadership-challenges-v-u-c-world\/\">VUCA World<\/a> and the need to alter one\u2019s management worldview\/practice and to change from the historic \u201cprobable outcomes\u201d approach to \u201cwhat is possible\u201d.<\/p>\n<p>Learning to migrate from \u201cThe Probable\u201d to \u201cThe Possible\u201d will require formal commitment and action to leadership re-tooling. Some astute business leaders have already figured this out and have recognized that in order to effectively navigate in this new environment they will have to address this head-on with their senior leadership teams and to then integrate and SHIFT their company culture. Leaders today are still likely in those early stages of <i>\u201cVUCA Survive&#8221;<\/i> and with the right focus and engagement they can migrate to <i>\u201cVUCA <\/i><i>Thrive<\/i><i>\u201d<\/i>.<\/p>\n<p>There is a path and an approach and some very interesting work done over the past two years at <a href=\"http:\/\/www.heidrick.com\/Knowledge-Center\/Article\/VUCA-meet-META-2017-list-of-superaccelerators\">Heidrick &amp; Struggles<\/a> as they have identified methods and factors that drive to accelerated growth in the VUCA world. Based on extensive research, Heidrick &amp; Struggles identified four key, unique attributes\/tests of company performance that are key to driving accelerated and sustainable growth: <i>Mobilize, Execute, and Transform with Agility<\/i>.<\/p>\n<p>First tests started in 2016 which identified those <i>\u201csuperaccelerator\u201d companies<\/i> by applying their model to the top 500 companies in the world. Twenty-three companies were identified in 2016 and twenty-five have been identified in 2017. \u00a0It is important to note that \u201cthe companies come from a range of industries\u2014healthcare\/life sciences, consumer, financial services, real estate, professional services, and communications, as well as technology.\u201d Clearly, the answer is not always high-flying tech companies which many believe are the only ones to have a monopoly on innovation and agility. Granted, Heidrick\u2019s model and test is limited, but serves as a great starting point for business leaders as they plan and execute their VUCA growth plans. There are likely some key lessons learned from these companies as they reach <i>\u201cVUCA <\/i><i>Thrive<\/i><i>\u201d. <\/i>No doubt that there are other <i>\u201cVUCA <\/i><i>Conquering<\/i><i>\u201d<\/i> success models, with the key leadership action to acknowledge and take action with a sense of urgency. And by the way, there are no indications that the VUCA World is moving off its present course.<\/p>\n<p>There has also been some great work done by <a href=\"https:\/\/personalleadership.gsb.columbia.edu\/about\/founder\/\">Dr. Hitendra Wadhwa at Columbia University<\/a> on high-impact decision-making in the VUCA World where he identified six critical practices \u00a0to help leaders arrive at \u201c<i>VUCA <\/i><i>Thrive<\/i>\u201d: \u00a0(1) be reflective and iterative, (2) nurture conflict and make it constructive, (3) integrate, collaborate and be a team player, (4) encourage diversity and collaboration, (5) intelligence distributed across the team\/organization, and (6) maximize results and learning. Ample evidence exists today that the VUCA World can be tamed (real and sustainable growth) through emboldened and enlightened leadership.<\/p>\n<p>Early adopters have already demonstrated that inclusive prosperity and real and sustainable growth can both occur in a VUCA world. The key is continued dialogue, sharing and learning to leverage real human capital.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>About the author:<\/strong><\/p>\n<p>Mark Beliczky is a Consultant &amp; Adviser to The Carlyle Group in Washington, DC, New York City. The Carlyle Group is a leading global private equity firm with $170BN in assets under management.<\/p>\n<p>Mark has a faculty appointment at Georgetown University, and past\u00a0management\u00a0lecturer at Vienna University, The Ohio State University, and former Board Co-Chair for Heidelberg University\u02bcs School of Business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the world has experienced an unprecedented period of economic growth for the past fifty years (positive annual GDP growth<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":""},"categories":[175],"tags":[176,193],"_links":{"self":[{"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/posts\/1597"}],"collection":[{"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/comments?post=1597"}],"version-history":[{"count":5,"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/posts\/1597\/revisions"}],"predecessor-version":[{"id":1605,"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/posts\/1597\/revisions\/1605"}],"wp:attachment":[{"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/media?parent=1597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/categories?post=1597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.druckerforum.org\/blog\/wp-json\/wp\/v2\/tags?post=1597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}