In a volalite world where the era of great moderation was over, what counts is leading with vision, flexibility, innovation, agility and purpose, Sanjiv Mehta, executive chairman of L Catterton India, said on day one of Goafest 2024, while speaking on the subject of ‘Navigating the Age of Adaptability’.
Mehta, 62, who retired as MD & CEO of Hindustan Unilever (HUL) in June 2023 said that leadership combined with the agility to pivot quickly could drive business success and resilience.
“The concept of a great leader is a myth. It is always the work of a great team that counts,” he said of the need to value people over individuals as businesses strive to adapt to an ever-changing world.
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“Learning happens when you have the humility to say that I don’t know,” Mehta said. A humble mindset could foster a growth mindset, which could go a long way to adapt to change, he said.
“We have seen the voice for environment, social concerns and diversity grow louder over time. Natural disasters have become frequent, climate concerns have grown and steady economic growth as well as stable financial markets no longer exist in the world,” he said of the current times.
What can businesses do to survive the chaos? Piece together disparate information to foresee and navigate complexity, which American psychologist and theorist Karl E. Weick describes as “sensemaking”, Mehta said.
“There will be times when you will trip and fall. No business moves in a linear fashion. There will be chaos and bouncing back from setbacks, failures as well as unexpected events is intrinsic to an adaptable organisation,” he added.
From: financialexpress
Financial News
