Source: Forbes, Author: Mark A. Cohen, CEO of Legal Mosaic
Enterprise strategic planning has never been more challenging.
The Doomsday Clock is the closest it has ever been to midnight, a reflection of the unprecedented danger the world faces. The World Economic Forum’s Global Risks Report 2024 surveyed more than 1,400 industry leaders, risk experts, and policy makers. They ranked this year’s 3 biggest enterprise risks as: (1) climate change (biodiversity, mass migration, and other interrelated challenges); (2) technological advances (economic, political, and social issues); and (3) geopolitical instability and fragmentation.
These looming global threats—among others— are an ominous backdrop to the speed, complexity, perpetual change, and asymmetrical competition confronting digital business. There is a long list of additional enterprise risks and challenges that include: economic uncertainty, regulatory complexity and compliance burdens, digital transformation, artificial intelligence, cybersecurity, data security and privacy, IP, supply chain disruption, and talent management.
How does corporate leadership forge an effective strategy to address the myriad of layered, interconnected, real-time, existential enterprise risks while charting a course for leveraging technology at scale to improve customer experience, outcome, and brand loyalty?
There is no simple or universal answer, but there are several common elements.
1. creative, inspirational, and empathetic leadership with a clear yet agile vision;
2. CEO reliance on a cross-functional team of trusted advisors, each of whom has a holistic enterprise mindset forged from a different functional perspective;
3. a culture of innovation, collaboration, constant improvement, and customer-centricity;
4. a holistically diverse workforce linked by a common purpose and a culture that values its workforce, individuality, curiosity, capability, collaboration, empathy, and social responsibility;
5. such a culture will attract, train, up-skill, advance, retain, and prepare talent for success within and/or outside the enterprise;
6. a culture that recognizes technology enables change but human adaptation determines the outcome of its digital transformation journey
General Counsel (“GC’s”) are key strategic assets in creating a digital culture and contributing to enterprise strategy. Here are three reasons why.
Read full article: https://www.forbes.com/sites/markcohen1/2024/02/05/3-reasons-why-general-counsel-are-enterprise-strategy-assets/?sh=2c46c43f16f4
