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Successful business leaders 'need to be adaptive'
Successful businesses are reliant on management and leadership teams that are able to adapt to changing circumstances, according to a new report.
A survey of executives conducted by the Boston Consulting Group (BCG) has shown that top-level leadership teams share a number of traits that allow them to consistently find ways to outperform the market.
These include unified strategies, the ability to sense and respond to changing conditions and superior information processing, while fluid boundaries and freedom within frameworks are also vital.
By embracing these qualities, businesses are able to take control of volatile trading conditions, rather than simply being influenced or hindered by them.
Nneka Rimmer, a partner and co-author of the report for BCG, said: "Leaders who bolster their team's collective performance in these critical areas achieve competitive advantages and generate greater financial returns compared with their industry peers."
Figures released by the Interim Management Association last month show that UK interim recruitments have surged in the last five years, thanks in part to the flexibility they can provide.
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