Leadership skills in digital economy

In the era driven by knowledge, immediacy and innovation, business leaders face the challenge to steer dynamic, motivated teams.

Leading a company in a competitive world today requires a combination of skills and abilities. Typically, business men and women focus their energies on what they perceive as their primary role: developing a strategy to reach the desired goals.

However, there are other aspects of leadership directly involved in teamwork leading. At this point, the first major strength lies in electing those who will accompany them until their goals are accomplished. So the first smart decision is to surround themselves with people best suited to carry out the purposes.

This selection criterion is as important as the subsequent need to lead a team of motivated individuals who believe that your work has facets of value and novelty. According to experts in leadership Steven Kramer y Teresa Amabile, employees are more productive and creative when they have a positive inner life. And for this, add the specialists, it is essential that your daily tasks provide them with something meaningful. 

Now, what influence leaders have on creating dynamic and stimulating environment for their staff? Certainly, they play an important role. By the way, it is worth to quote an expert Robert Sutton, who argues that it is a leader, who establishes the “atmosphere” in the organization and thus sets the expected standards of behavior. 

Economy of ideas

But passion for innovation and the importance of creative and enthusiastic development do not only promote efficiency in teams. In fact, these qualities are essential requirements to function successfully in today’s economy.

That is why business leaders should keep in mind the defining features of the digital economy, whose definition should not be limited to technological advances or mere existence of the Internet. 

Here are some key features of the digital economy:
  • Continuous innovation: while the life cycles of products and services shorten, the novelty comes due to system and technology innovations. From this point of view, the power of ideas becomes a core element. 
  • Permanent interconnections: technology does not only allow informational flow. Human resources have been “digitalized” and more and more professional services are provided remotely. Considering this point, business leaders face – more than ever – the challenge of coordinating projects with people from different countries and activities.
  • Constant learning: many authors argue that to learn faster than competitors is “the only competitive advantage”. This concept is key and has to translate into organizational learning before individual skill development.
  • Added value: information and ideas have become an essential part of any product or service. For this reason, the intellectual capital of people is a key asset in any company, as it is no longer possible to visualize a new product without considering its added value that will distinguish it from competitors. 

Against this backdrop, it is vital to note that although the role of technology is undeniable, the value of ideas is more important. Therefore, business leaders of the digital economy must not only ensure the possession of appropriate technological resources; their greatest challenge is to generate and preserve work atmosphere that is encouraging and dynamic, or better yet, to develop real incubators for innovative projects. To this end, there is nothing more appropriate than a stimulating environment so that those who work with us know, are able and willing to adapt quickly and effectively to constant changes.