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Financial Review Research Reveals Core Issues for Leaders

14 Sep 2012

A recent survey of senior business decision-makers by Financial Review BOSS, has identified three of their biggest leadership challenges for the future - dealing with technological change, globalisation and growing ranks of remote workers.

Fairfax Media's Financial Review Group, Australia's pre-eminent business and finance information provider, today highlighted the need for the next generation of leaders to be able to manage in rapidly changing environments, in the first of three part series in Financial Review BOSS magazine

Narelle Hooper, Editor, BOSS said: "There is a real gap emerging between the skills today's bosses have and what they'll need for the future. There is a coming clash between a young, tech savvy generation who are more global in their thinking and the comparatively inflexible, inward management styles of today."

The research discovered that more than two thirds of those surveyed (67%) said technological change and globalisation would be the big issues for leaders in the future, compared to around 40 per cent now.

In BOSS magazine, Phil Chronican, Chief Executive, ANZ, said: "With what's happening with new internet and digital mobile models of business, traditional physical barriers are no longer relevant - retail is a good example. So where people who thought they had good business models, they are being blindsided."

The study also found that 62% said that being able to manage staff working remotely will be another important issue for business leaders in coming years compared to only 23 per cent today.

"Companies will have to manage and motivate a growing cohort of workers who operate outside the physical office space. There is a generation of bosses who still equate your effectiveness with you being at your desk. They will have to come to grips with this or start to lose out in competitiveness and talent," Hooper said.

The findings reflect the need for executives to be adaptable, flexible and tech savvy.

This research was conducted as part of the BOSS partnership with the University of Sydney Business School to launch their new 'Me, First' MBA. They have joined together to launch the 'Seeking Australia's Emerging Leaders' to identify Australia's brightest business talent. As part of the partnership, the university is offering a $60,000 MBA scholarship as a prize.

Brett Clegg, Chief Executive Officer and Publisher, Financial Review Group said: "This initiative continues to highlight our approach to think outside of the box to offer advertising clients effective creative solutions targeted to our audience and in answer to their campaign objectives. It also supports BOSS' commitment to fostering today's and tomorrow's leaders."

Entrants are required to compete in 4 rounds consisting of a 15 minute self-assessment tool, submission of an opinion piece on leadership, a real life case study assessment and a final interview; with the winner taking out the MBA scholarship.

"The Financial Review's research supports our view that tomorrow's leaders will need to quickly and effectively adapt to our rapidly changing business world," said the MBA Director of the University of Sydney Business School, Associate Professor Nick Wailes. "Our new MBA program will produce a new generation of creative business leaders who are equipped with cutting edge knowledge, the practical ability to apply that knowledge and the personal skills to motivate and influence others."

For more information on the research visit the Financial Review BOSS page

For more information on the $60,000 MBA scholarship visit the BOSS MBA scholarship page.