{"id":2335,"date":"2020-12-11T12:02:52","date_gmt":"2020-12-11T12:02:52","guid":{"rendered":"https:\/\/www.iese.edu\/standout\/?p=2335"},"modified":"2023-10-16T15:52:59","modified_gmt":"2023-10-16T15:52:59","slug":"c-suite-strategy-uncertainty","status":"publish","type":"post","link":"https:\/\/www.iese.edu\/standout\/c-suite-strategy-uncertainty\/","title":{"rendered":"6 C-suite strategies to navigate through uncertain times"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text css_animation=&#8221;bottom-to-top&#8221;]C-suite leaders were already familiar with the need for corporate resilience, positive change management and disruption strategies when the pandemic hit and changed everything. <strong>Overnight, \u201cleadership under uncertainty\u201d took on an entirely new meaning. <\/strong><\/p>\n<p>As we continue to forge ahead in a context of ambiguity, the following insights \u2013 drawn from the fields of business, academia, social science and psychology \u2013 offer broad-based strategies for C-suite leaders to navigate the present while planning for the future.<\/p>\n<h2>6 <span class=\"subrat\">C-level<\/span> strategies for managing in these uncertain times<\/h2>\n<h3><strong><span class=\"subrat\">1.<\/span> Embrace a new definition of happiness<\/strong><\/h3>\n<p>C-suite executives are charged with generating long-term sustainable value for their firms, but successful leadership entails more than steering corporate operations. To be effective, executives need to stay keenly attuned to their well-being and happiness levels, says Tal Ben-Shahar, an expert on positive psychology.[\/vc_column_text]<div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f86874bf {margin-top: 35px !important;}<\/style><div id=\"thegem-divider-69d08f86874bf\" class=\"gem-divider  \" style=\"\" ><\/div><div style=''  class=\"gem-quote gem-quote-style-default custom-color-blockqute-mark-added\" ><blockquote  ><strong>\u201cTo be effective, executives need to stay keenly attuned to their well-being and happiness levels.\u201d<\/strong><\/p>\n<p>Tal Ben-Shahar<\/blockquote><span style=color:#ff0000;  class=\"custom-color-blockqute-mark\">&#xe60c;<\/span><\/div><div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f8687523 {margin-top: 35px !important;}<\/style><div id=\"thegem-divider-69d08f8687523\" class=\"gem-divider  \" style=\"\" ><\/div>[vc_column_text css_animation=&#8221;bottom-to-top&#8221;]The first task at hand might be embracing a new definition, since study after study has found external markers like job titles, financial success and corner offices bear little correlation with happiness. According to psychologists, strong interpersonal relationships, health and longevity are the ultimate predictors of happiness, which should be viewed as falling on a continuum rather than a destination.<\/p>\n<p>When it comes to fostering happiness in the workplace, a little goes a long way according to Ben-Shahar\u2019s research. \u201cIn organizations, we find that even <strong>small increases in happiness lead to significant upturns in productivity, creativity, teamwork, engagement and motivation.<\/strong> It\u2019s not about radically increasing levels of happiness but rather driving incremental increases.\u201d<\/p>\n<h3><strong><span class=\"subrat\">2.<\/span> Complete the stress cycle<\/strong><\/h3>\n<p>Stressors come in all shapes and forms and accumulate on a daily basis, from getting cut off in traffic to dealing with contentious clients. According to Dr. Emily Nagoski, health expert and co-author of the bestseller <em>Burnout<\/em>, it\u2019s important to differentiate the stress from the stressors and controllable versus uncontrollable stressors, and take steps to \u201ccomplete the stress cycle\u201d to return to a state of relaxation after escaping the proverbial tiger. To this end, the first lines of defense include moving \u2013 even for short lengths of time \u2013 <strong>breathing, talking to others and laughing, among others. <\/strong><\/p>\n<p>Ben-Shahar offers similar advice. \u201cThe problem is not stress per se,\u201d he explains. \u201cThe problem is not allowing time for recovery. <strong>We need to energize our lives with recovery.&#8221;<\/strong> He recommends building recovery into our routines through exercise, regular breaks from our work and delineations between our personal and professional schedules, which brings us to the next point&#8230;<\/p>\n<h3><strong><span class=\"subrat\">3.<\/span> Establish clear boundaries and transitions<\/strong><\/h3>\n<p>Temporary work-from-home mandates have now become the norm in many companies, blurring the lines between our personal and professional spheres. In order to smooth this transition, Prof. Nancy Rothbard of the Wharton School of Business recommends <strong>putting clear time and spatial boundaries when working from home.<\/strong><\/p>\n<p>\u201cAs many knowledge workers and their managers face more months of remote work, it\u2019s vital to understand how you and your employees navigated work-family boundaries in more traditional office environments \u2014 and how mandatory working from home affects these approaches,\u201d she says. \u201cOnly then can you begin structuring remote work that is not only productive but honors everyone\u2019s boundaries over the long term.\u201d<\/p>\n<h3><strong><span class=\"subrat\">4.<\/span> \u00a0Script the future <\/strong><\/h3>\n<p>As the saying goes, \u201cThe best way to predict the future is to invent it.\u201d This is precisely what Bill Gates does during his famous twice-yearly \u201c<strong><a href=\"https:\/\/www.reservations.com\/blog\/resources\/think-weeks\/\" target=\"_blank\" rel=\"noopener noreferrer\">think weeks<\/a><\/strong>\u201d and what Amazon\u2019s senior leadership team does every Tuesday for four-hour sessions: they distance themselves from distractions to reflect and deliberate about the future.<\/p>\n<p>According to <strong><a href=\"https:\/\/www.iese.edu\/faculty-research\/faculty\/miquel-llado\/\">Miquel Llad\u00f3<\/a><\/strong>, IESE professor and author of <em>Falling in Love With the Future<\/em>, <strong>\u201cThe world is changing so fast that it\u2019s not enough for companies to have a 5- or 10-year corporate strategy<\/strong>. Rather, this strategy must be changing continuously to keep up with market shifts<strong>. <\/strong>Today\u2019s senior executives must think strategically all the time.\u201d In his view, strategy definition starts with clarifying end objectives and devising a roadmap to get there.[\/vc_column_text]<div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f8687556 {margin-top: 35px !important;}<\/style><div id=\"thegem-divider-69d08f8687556\" class=\"gem-divider  \" style=\"\" ><\/div><div style=''  class=\"gem-quote gem-quote-style-default custom-color-blockqute-mark-added\" ><blockquote  ><strong>\u201cToday\u2019s senior executives must think strategically all the time.\u201d<\/strong><\/p>\n<p>Miquel Llad\u00f3<\/blockquote><span style=color:#ff0000;  class=\"custom-color-blockqute-mark\">&#xe60c;<\/span><\/div><div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f868758a {margin-top: 35px !important;}<\/style><div id=\"thegem-divider-69d08f868758a\" class=\"gem-divider  \" style=\"\" ><\/div>[vc_column_text css_animation=&#8221;bottom-to-top&#8221;]From his years of experience as a top-level executive, consultant and academic, he has identified four powerful frameworks to guide this strategic reflection:<\/p>\n<ul>\n<li>The PESTEL analysis \u2013 short for Political, Economic, Social, Technological, Environmental and Legal \u2013 to help pinpoint macro forces<\/li>\n<li>Porter\u2019s five-forces analysis, to better understand the changes in your competitive landscape<\/li>\n<li>The strategy choice cascade outlined in <em>Playing to Win: How Strategy Really Works<\/em><\/li>\n<li>The \u201cblue ocean\u201d theory, to exploit untapped market opportunities<\/li>\n<\/ul>\n<p>[\/vc_column_text]<div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f86875a4 {margin-top: 35px !important;}<\/style><div id=\"thegem-divider-69d08f86875a4\" class=\"gem-divider  \" style=\"\" ><\/div>[\/vc_column][\/vc_row][vc_row full_width=&#8221;stretch_row_content_no_spaces&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221;][vc_column width=&#8221;1\/2&#8243; css=&#8221;.vc_custom_1606216313822{padding-right: 70px !important;padding-left: 70px !important;background-color: #000000 !important;}&#8221;][vc_column_text]<\/p>\n<div class=\"title-h2\">\n<p><span style=\"color: #ffffff;\">Discover in this article<\/span> <a href=\"https:\/\/www.iese.edu\/standout\/Strategic-thinking-how-to-improve-it\">how to improve your strategic thinking.<\/a><\/p>\n<\/div>\n<p>[\/vc_column_text]<div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f86875bd {margin-top: 50px !important;}<\/style><div id=\"thegem-divider-69d08f86875bd\" class=\"gem-divider  \" style=\"\" ><\/div>[vc_column_text][\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243; css=&#8221;.vc_custom_1607688060520{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 300px !important;padding-bottom: 300px !important;background-image: url(https:\/\/www.iese.edu\/standout\/wp-content\/uploads\/2020\/12\/CEO-C-level-strategy.jpg?id=2339) !important;}&#8221;][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f86875d4 {margin-top: 35px !important;}<\/style><div id=\"thegem-divider-69d08f86875d4\" class=\"gem-divider  \" style=\"\" ><\/div>[vc_column_text css_animation=&#8221;bottom-to-top&#8221;]<\/p>\n<h3><strong><span class=\"subrat\">5.<\/span> Remember that management is about people<\/strong><\/h3>\n<p>Successful strategies stem from your ability to inspire and align your team by fostering motivation, energy and meaning to the task at hand. In this regard, C-suite executives need to assess and harness what everyone brings to the table, including their own roles as leaders. As Prof. Llad\u00f3 observes, \u201c<strong>In life and in business, you are the most important person you report to<\/strong>. Think about what you want and move toward the future you\u2019ve designed.\u201d<\/p>\n<h3><strong><span class=\"subrat\">6.<\/span> Take concrete steps to continue learning<\/strong><\/h3>\n<p>Increasing international competitiveness, demographic shifts and technological innovations have all led to important changes in the global workplace in recent years, a transformation accelerated by the pandemic. <strong>Lifelong learning at all organizational levels will be key for businesses to navigate the changing world of work<\/strong>. So ask yourself: what are you learning at the moment?<\/p>\n<p>&nbsp;<\/p>\n<p>Learn more about IESE\u2019s top-ranked programs for high-level executives like you, including the <strong><a href=\"http:\/\/www.iese.edu\/amp\">Advanced Management Program<\/a><\/strong> and <strong><a href=\"https:\/\/executiveeducation.iese.edu\/csuite-senior-executives\/global-ceo-program\/\">Global CEO Program<\/a><\/strong>.[\/vc_column_text]<div class=\"clearboth\"><\/div><style>#thegem-divider-69d08f8687607 {margin-top: 35px !important;}<\/style><div id=\"thegem-divider-69d08f8687607\" class=\"gem-divider  \" style=\"\" ><\/div>[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text css_animation=&#8221;bottom-to-top&#8221;]C-suite leaders were already familiar with the need for corporate resilience, positive change management and disruption strategies when the&#8230;<\/p>\n","protected":false},"author":4,"featured_media":2337,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,107],"tags":[61,68,38],"class_list":{"0":"post-2335","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-c-suite","8":"category-general","9":"tag-amp","10":"tag-gcp","11":"tag-general-management"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>6 C-Suite strategies to navigate uncertainty<\/title>\n<meta name=\"description\" content=\"C-Suite executives require new strategies to help them navigate the present while planning for the future in a context of uncertainty.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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