Leadership in 21st Century Organizations

In the 21st century, the biggest assets an organization has are its people what they can do. The evidence of this? Apple, Google, and Microsoft all have market values higher than Exxon (a company with vastly more physical assets). A very important job of a 21st century leader, then, is to attract, retain, and continue to develop the talents and skills of the people within the organization. Talent is a success multiplier, and an organization's leader is its talent-developer-in-chief. How should this be done? How would you do it?

Thanks to mature communications and transportation networks, it has never been easier for low cost producers to market low priced products and services all over the world. Because of this, companies -- especially those not located in low cost regions -- need to innovate, in order to keep offering products and services that are better, even if they aren't cheaper. In the 21st century, the capacity to innovate has become extremely important to business success. And it's the leader's job to create the conditions in which her or his people can innovate effectively. A leader must espouse principles, processes, and practices that allow the organization to innovation better than its rivals. How to do this? How would YOU do it?

You've seen it all too often in the newspaper headlines: a prominent leader called on to resign, not because of failure to perform on the job, but because of something troubling (at least to some) that has transpired in their so-called "private life" that has become public. Where is the boundary between public life and private life for a leader? Indeed, is there a boundary? Why do so many leaders have problems with this? How does it bear on notions of leadership character and integrity? What is YOUR personal philosophy in this important area?

Leadership is an active, if fragmented, field of management research. In this module, you'll encounter some of the ideas researchers have come up with to describe and improve the practice of leadership. Some of these theories have had more influence than others. Some have had less influence on the practice of leadership than many of the ideas we've already seen in the course (e.g., economic agency theory). We offer these here to raise the possibility that some of these ideas might help YOU as you synthesize a personal approach to leadership in the 21st century.

We continue our examination of the inner complexities of the 2008 financial crisis.