In its desire to expand training channels to promote sustainable and innovative business transformation, the Excellence in Management Club, an association dedicated to improving the management and results of organizations, organized a new webinar, focused on discovering the new role of the CEO in the news. Its main speaker was Paloma Beamonte, president of Xerox Spain and Portugal, who was accompanied by Ignacio Bab, general secretary and CEO of Club Excelencia en Gestin.
Beamonte has taken up the challenges facing great business leaders in these times of health crisis and great economic uncertainty, and has shown his experience in dealing with them. An unprecedented VICA environment (Volatility, Uncertainty, Complexity, Ambiguity) which forced them to relearn and reinvent themselves to keep their businesses running.
The changes that have taken place in recent months have caused companies to operate differently, to adapt to a different structure and to new internal dynamics, and to interpret the concept of “business” in a different way. An accelerated and forced transformation that the president of Xerox is also facing. Their experience was captured in this virtual meeting, from which seven key ideas can be extracted.
Follow transformation-driven business models. Like the EFQM model, useful for measuring intangible concepts that are decisive for the good performance of an organization. It also serves as a guide for the leader, whose main responsibilities are the management of the company, the execution of its strategies and the achievement of results, the foundation on which the EFQM model is based. “This provides us with very effective tools, like a series of matrices that allow us to assess how we can do it better,” Beamonte explains. Involve the stakeholders. In these difficult times, leaders must be able to fully strengthen the relationship of the company with the people involved in its processes: workers, customers, investors, suppliers … They must promote models of listening to know quickly and easily the needs of the customer, which must always be at the center. But it is also necessary to serve employees, involve them in innovation and transformation projects, foster their confidence and promote talent to create lasting value in all areas of the organization. Leading technological change. One of the obvious consequences of the pandemic on the business world has been a rapid and forced adaptation to new ways of working and communicating. Teleworking, which had had a very limited trajectory, has exploded, and under its aegis have come new technological solutions with various uses, depending on the needs of each organization. Part of the CEO’s job right now is to figure out what these needs are and how to solve them in innovative ways, ensuring security, both physical and cybernetic. Encourage co-creation: competitiveness between organizations and even between subsidiaries of the same company, as at Xerox, must be eliminated. And promote cooperation and co-creation through agreements, training, participation in round tables, etc. to improve joint recovery. The aim is to avoid the loss of productivity and jobs, which is essential at the present time so that the socio-economic situation does not deteriorate from a general point of view. Manage diversity: Observe group difficulties that may be encountered within an organization (groups of women, sexual diversity, disabled, etc.), listen to their needs and try to resolve them. Always with ethical formulas aligned with the purpose and values of the company. Relearn and reinvent yourself: You have to question the future, observe if the values of the organization are adequate at this time, always under the aegis of ethics and taking into account how the virus has changed our way of seeing life. The CEO must have the stability to face the situation and the flexibility to reinvent himself. “You have to assume that a measure that you adapted a long time ago is no longer adequate and needs to be changed. But we also have to make employees understand why it is no longer good and why it should be changed, ”recommends Beamonte. Be an example and a source of inspiration. In addition to being at the origin of all these solutions, the CEO must lead by example to convince that change is necessary. Put the solutions into practice, correct any discrepancies you detect and communicate all this experience without fear. Permanently, with clarity and transparency, relying on the values that define the organization.
The leaders of an organization play a fundamental role in the new EFQM 2020 model, promoted in Spain by the Excellence in Management Club, which has been in force since the beginning of the year. The EFQM model is an effective tool for dealing with change and transformation, necessary for the sustainability of any organization over time, seeking a balance between improving its functioning in the present and preparing for it. ‘to come up.