Building success with thoughtful leadership

Move over thought leadership, it’s time for thoughtful leadership, argues Laura Lear at AMBITIOUS

 

For many years the buzz word used by communications and PR professionals has been thought leadership – a term heavily over-used by many. The idea being that a business or key individual should be positioned as a leader and expert in its field, and on wider economic or societal issues, as well as providing industry future thinking.

 

This is still a crucial part of successful corporate communications, but we have been taking an inward-out approach for too long. In today’s world, businesses and their communications consultancies need to take an outward-in approach by focusing what is needed in the world and how business can be a force for positive change.

 

In business we trust

There has been a significant shift in public perception and expectations of businesses, highlighted in the 2023 findings of the Edelman Trust Barometer. It shows that businesses globally are seen as more trustworthy and ethical than governments. This change has placed an increasing responsibility on business to not only focus on growth and profit but also to take the lead in addressing broader societal issues such as climate change, social justice and diversity.

 

The trust placed in business is not just a moral imperative, but a strategic advantage. It can be a major factor in successfully enhancing reputations, helping to engage with new stakeholders and making it easier to attract and retain talent. This is particularly true for a new generation of workers coming up the ranks seeking employers who really do walk the walk when it comes to doing good from a societal, environmental and employee perspective.

 

Balancing profit with purpose

Corporate communications have traditionally focused on what business stakeholders want to hear, primarily from a financial, customer, and business growth perspective, all aligned with the company’s own narrative. Today this has to be balanced with other needs. In a world where people, DE&I, wellbeing, and environment have become core to any business strategy, companies need to adopt a more thoughtful leadership model, integrating purpose into their business strategies. This means aligning profit with positive social impact.

 

Business growth that benefits everyone

So, what has sustainable growth come to mean in the context of business?

 

Successful, sustainable business growth is now deemed a crucial aspect of how we live and prosper in the future as a collective society - where the actions of businesses have a direct impact on the quality of life for millions of people. Sustainable growth is not just about longevity for the business; it’s about fostering a healthier, more equitable world where economic progress does not come at the expense of future generations.

 

Business and society are deeply interconnected. This means that sustainable growth can become a vehicle for advancing human progress, ensuring that vital social, environmental, and economic needs are met for generations to come. For example, by prioritising sustainability, businesses help create stable economies, preserve ecosystems, and ensure that resources are available for the future.

 

This contributes to a more resilient society where shared prosperity is possible, with businesses supporting a societal structure that benefits everyone.

 

Taking a more thoughtful role

Of course, public companies will still be required to report to their shareholders and the financial world on their performance as ultimately businesses need to grow and profit to succeed. However, the change will be taking more of a thoughtful role and responsibility.

 

When it comes to thoughtful leadership, it’s less about what a business wants to say as a leader, and more about what is needed from the external world.

 

Large corporates are shifting their focus, and AI will only accelerate this. However, where the immediate real action can take place is with the independent fast growing and mid-sized businesses that are nimbler and can take action, quickly.

 

Thoughtful leadership should be a central component to the corporate communications approach; it should be the new norm. There are a range of focus areas to this, including:

 

Finding your North Star – This involves behaving ethically and knowing your businesses’ moral compass. Who will you work with, why and how do you manage the creation of your own sustainable and ethical supply chain?

 

Putting people and planet first – Being aware of local and global communities and their habitats, and the impact we are having, while ensuring equality in everything you do. It doesn’t matter if it starts small, but it needs to show action.

 

Leading thoughtfully – It starts at the top, and it is those who the lead the business that need to be fully committed to this, willing to invest and drive change, and build robust relationships. Too many CEOs and c-suite teams will not lean forward for fear of change and ruffling the more corporate stakeholder’s feathers. The world needs confidence and forward-thinking leaders to drive this agenda. They are the ones who will stand out and reap the rewards.

 

Having a purpose led position – This means aligning business growth to external needs and using this as a core platform for shaping your business strategy. It involves understanding the needs of the world that you impact, and shaping your own thoughtful position based on this, through real action.

 

Your people are your business – Have a clear people strategy that focuses on their needs, their growth and wellbeing. Ensure that it’s inclusive to all and enables everyone to have shared responsibility in how the business behaves.

 

The time for action is now

As expectations have shifted, so too must companies. Thoughtful leadership is no longer a choice but a necessity for businesses striving to compete and succeed today. By adopting an outward-in approach, businesses can position themselves not just as industry leaders, but as forces for positive change, driving solutions for global challenges while fostering long-term growth and success. The time is now for many ethical, societal and environmental reasons, and the businesses willing to step up, innovate, and lead thoughtfully stand to gain the competitive edge.

 

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Laura Lear is Deputy Managing Director at AMBITIOUS

 

Main image courtesy of iStockPhoto.com and champpixs