Business innovation never rests. Competition never lets up. And as recent crises have taught us, seismic disruptions can emerge out of the blue. For these reasons, executives and entrepreneurs must continue learning in order to stay on top.
When to pursue anExecutive education custom program for your company
When is the right moment for executives like you to pursue an executive education custom program for your company? Given today’s lighting quick pace of technological change and business strategy innovation, executive training opportunities abound. Here are a few instances that call for them:
1.When technology is disrupting your industry
For years, technological advances have been changing how companies do business in a wide range of sectors. Even successful organizations can struggle to adapt. But adapt they must, whether they’re media conglomerates, educational institutions, investment banks or healthcare providers. The stakes are high: leading market research firm International Data Corporation expects 65% of global GDP to be generated by digitalized organizations in 2023.
Have your company’s previous successes discouraged it from thinking outside the box and finding modern solutions? Custom programs help you navigate a business landscape in constant flux and use technological advances to your advantage.
2.When a business reorganization is necessary
The aforementioned technological innovations, among others, require new business models, organizational structures and forms of teamwork. Even after the pandemic, managers should continue to hone their expertise at managing virtual teams, and executives should strive to become even more adept at multicultural negotiations.
A hallmark of executive education programs is training participants in how to communicate and collaborate so that new ideas can flourish and rigid workplace structures can stop being obstacles for agility.
3. When your company needs to think more globally
Today’s multinational conglomerates can span 100+ affiliate companies spread across all corners of the world. That, plus all manner of technological innovations, will increasingly behoove executives like you to bridge geographic and cultural divides that can come in the form of language barriers, varying inflation rates and distinct social mores, among many others.
A wide range of custom programs exists with the goal of shaping current and future business leaders to embrace diversity and reap its many benefits as working across borders—in-person and virtually—becomes more and more common.
4. When teamwork and talent retention need improvement
Encouraging loyalty in your employees is not an easy task, especially among younger workers inclined toward greater career mobility and reinvention. The American analytics firm Gallup, for instance, recently reported that 21% of millennials switched jobs within the past year, a rate three times that of older generations.
A custom program can help you pinpoint strategic actions in terms of respectful treatment, clear and transparent communication, good compensation and trust, all of which will keep employee morale high and bolster productivity and workforce allegiance.
5. When the time comes for succession planning
No matter your company’s size or track record of success, it must have talented employees ready to move into leadership positions when the current occupants leave. But how can you identify and nurture the top executives of tomorrow? And how can you prepare yourself for what is a time-consuming (generally lasting at least five years) and, especially in the case of family businesses, potentially tense process?
Executive Education training will help you underscore the importance of proactive planning, timely communication and succession strategy integration so that a change at the top of your business doesn’t affect its bottom line.
IESE Business School develops your leaders to deliver the change you need. Ranked #1 in the world, our custom programs target your specific business needs and build rock-solid alignment around your strategic goals.