{"id":780,"date":"2022-07-09T15:54:38","date_gmt":"2022-07-09T15:54:38","guid":{"rendered":"https:\/\/www.cladvisors.com\/?p=780"},"modified":"2022-07-13T01:08:47","modified_gmt":"2022-07-13T01:08:47","slug":"five-ideas-for-increasing-your-digital-leadership","status":"publish","type":"post","link":"https:\/\/contemporaryleadership.com\/staging\/1870\/five-ideas-for-increasing-your-digital-leadership\/","title":{"rendered":"Five Ideas for Increasing Your Digital Leadership"},"content":{"rendered":"

Digital technologies (e.g. social, mobile, cloud, big data, etc.) have dramatically improved how businesses operate.\u00a0 MIT\u2019s Center for Digital Business purports that digitally transformed businesses are 26% more profitable than their peers.\u00a0 According to MIT, these digital organizations do more than simply invest in digital technologies, however.\u00a0 They also invest in the leadership capabilities necessary for digital transformation.<\/p>\n

Digital leadership can\u2019t be delegated to a consultant, a tech-savvy board member or even Chief Digital Officer. CEO\u2019s themselves must lead digital transformation. \u00a0However, most CEO\u2019s progressed through the ranks long before the term \u2018digital\u2019 even entered the business lexicon.\u00a0 How can these executives get up to speed?\u00a0 Here are 5 fundamental ideas.<\/p>\n

    \n
  1. Admit You Don\u2019t Know<\/strong><\/li>\n<\/ol>\n

    It\u2019s tough to admit you don\u2019t know, particularly for executives who are expected to always have an answer.\u00a0 In fact, research shows that the smartest people often have the toughest time learning because their identity is based on the fact that they\u2019re the expert.<\/p>\n

    But many executives are facing similar challenges. \u00a0Be vulnerable.\u00a0 Ask \u201cWhat social media platforms are trending, how do they work, and how can they be used most effectively in our organization?\u201d and \u201cWhat are the emerging technologies that will help the organization remain not only relevant, but innovative?\u201d After all, in the words of Socrates, \u201cThe only true wisdom is in admitting you know nothing.\u201d<\/p>\n

      \n
    1. Reverse Mentor<\/strong><\/li>\n<\/ol>\n

      CEOs are often involved in mentoring relationships.\u00a0 Typically, though, they are the ones sharing their insight. Conversely, in reverse mentoring, it\u2019s the CEO who is doing the learning.\u00a0 He or she is mentored by younger, more technically-savvy employees. \u00a0In the 90\u2019s Jack Welch used this strategy at GE when he asked 500 of his most senior executives to learn how to navigate the web from their more junior colleagues.\u00a0 Subsequently, multiple companies, including Ogilvy & Mather, Hewlett Packard, and Cisco Systems have all employed reverse mentoring.<\/p>\n

        \n
      1. Keep Up With Social Media<\/strong><\/li>\n<\/ol>\n

        Although most CEOs are relatively savvy with today\u2019s major social media platforms, new social technology is always on the rise. Keeping up with the latest, and understanding the evolving ethical and cultural sensitivities that can be associated with social, is essential. \u00a0Social media can be a great way for CEOs to interact with investors, customers and employees while learning about digital technologies.\u00a0 Netflix CEO Reed Hastings, for example, caused the company\u2019s stock to rise 6% when he posted that monthly online viewing had exceeded 1 billion hours. What\u2019s more, research indicates that CEO\u2019s use of social media makes their employees feel inspired and technologically relevant.<\/p>\n

          \n
        1. Embark on a Digital Learning Journey<\/strong><\/li>\n<\/ol>\n

          Too often C-suites suffer from \u2018group think.\u2019 CEOs and their executives continually reinforce the same ways of thinking and reject new ideas as not invented here.\u00a0 A great way to combat this tendency is through a learning journey.\u00a0 In a learning journey executives leave their traditional environment and tour different contexts to experience new perspectives and fresh ideas.<\/p>\n

          Learning journeys are a valuable way to learn about how other companies are using digital technologies.\u00a0 Visit customers, suppliers, or peer companies to see how they use digital to interact with the marketplace, accelerate business processes, and improve decision making and employee collaboration.<\/p>\n

            \n
          1. Host a Digital Disruption Summit<\/strong><\/li>\n<\/ol>\n

            Digital technologies are transforming virtually every industry. At a recent CEO2CEO Digital Transformation Summit, for example, experts suggested that the introduction of virtual reality could eventually reduce air travel by as much as 30%.<\/p>\n

            Conduct a Digital Disruption Summit to consider how digital is, and potentially will continue to, disrupt your industry.\u00a0 Bring together subject matter experts to share their perspective on digital transformation, identify the opportunities and threats to your business, and prioritize areas for further exploration.<\/p>\n

            Like the transformation from steam to electricity, digital is a disruptive force that will continue to change how every business operates, and it will be ever evolving.\u00a0 CEOs owe it to themselves, their employees, and their investors to make keeping up with the latest a high priority so they can lead the way rather than get left behind. The time to start learning is now.\u00a0 Never have John F. Kennedy\u2019s famous words been more true: \u201cLeadership and learning are indispensable to each other.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

            Digital technologies (e.g. social, mobile, cloud, big data, etc.) have dramatically improved how businesses operate.\u00a0 MIT\u2019s Center for Digital Business…<\/p>\nRead More<\/a>","protected":false},"author":2,"featured_media":3413,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"\nFive Ideas for Increasing Your Digital Leadership - STAGING Contemporary Leadership Advisors<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five Ideas for Increasing Your Digital Leadership - 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