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Technology, Internet, growth, and globalization have metamorphosed the way we work, play, and live.\u00a0 They have even changed the fundamental laws of economics. \u00a0We are living in an economy that is quite different from the old manufacturing-based economy of the 1980s. \u00a0Fewer people are now employed in the manufacturing sector, who are anxious about the prospects of being replaced by machines soon.<\/p>\n
The \u201cNew Economy\u201d is a term economists started using in the 1990s to describe new, high-tech, high-growth industries that have been the driving force of economic growth since that period. \u00a0The new economy is also heralded as the Digital Economy, the Knowledge Economy, the Data Economy, or the eCommerce Economy.\u00a0 Top technology enterprises\u2014including Google, Facebook and Apple\u2014have outpaced traditional firms around the globe by taking advantage of the new economy.<\/p>\n
Leadership Development<\/a> in this age of Digital Economy is a key challenge for most organizations. \u00a0More and more organizations, today, are revisiting what they are about and the meaning of leadership for them.\u00a0 It\u2019s not about one person or even those residing at the top anymore.<\/p>\n MIT Sloan Management Review<\/a> conducted a study of 4,000 executives from 120 geographies around the world to understand what defines a great leader in this changing world. \u00a0The study revealed striking results with most executives believed that their leaders lacked the mindset needed to produce the strategic changes essential for leading in the Digital Economy. \u00a0Enterprise-level transformation is what majority of leaders feared to embark on.<\/p>\n Mindsets are established set of attitudes held by someone that shape how a person interprets and responds to experiences. \u00a0A mindset arises out of a person’s view of the world or philosophy of life. \u00a0To know about the Digital Economy\u00a0leadership mindsets<\/a> (i.e. leadership mindsets critical to survive in this new economy), the MIT Sloan Management Review\u2019s global study identifies 4 critical mindsets\u2014based on in-depth interviews from executives worldwide and detailed analysis of data:<\/p>\n Let’s define these first 2 leadership mindsets.<\/p>\n Leaders with a producer mindset evaluate each of their customer touch points painstakingly.\u00a0 These leaders exhibit a passion for producing customer value.\u00a0 Producers concentrate on analytics, digital know-how, implementation, results, and customer satisfaction. \u00a0They focus on analytics to fast-track creativity.\u00a0 The resulting innovation helps them tackle shifting customer preferences and enhance customer experiences.\u00a0 The Producers strive to create all the customer journeys enjoyable.<\/p>\n The leaders with an investor mindset make people appreciate the higher purpose they serve by their work.\u00a0 They constantly struggle to instill motivation and teamwork among their teams in order to achieve their overall organizational goals.\u00a0 The leaders with an investor mindset are concerned about the communities that surround them.\u00a0 They look after the well-being and constant advancement of their employees, and devote their efforts to improve value for their customers.<\/p>\n Fostering these types of mindsets is critical to building the right Organizational Culture<\/a> for an organization to be successful in the Digital Economy.<\/p>\n Interested in learning more about the leadership mindsets required to win in the new economy?\u00a0 You can download an editable PowerPoint on Leadership Mindsets Critical to Succeed in the Digital Economy<\/strong> here<\/u><\/a> on the Flevy documents marketplace<\/a>.<\/p>\n You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library<\/a>. FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:<\/p>\n “My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”<\/p>\n \u2013 Bill Branson, Founder at Strategic Business Architects<\/p>\n<\/blockquote>\n “As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”<\/p>\n \u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p>\n<\/blockquote>\n “As a small business owner, the resource material available from FlevyPro has proven to be invaluable. The ability to search for material on demand based our project events and client requirements was great for me and proved very beneficial to my clients. Importantly, being able to easily edit and tailor the material for specific purposes helped us to make presentations, knowledge sharing, and toolkit development, which formed part of the overall program collateral. While FlevyPro contains resource material that any consultancy, project or delivery firm must have, it is an essential part of a small firm or independent consultant’s toolbox.”<\/p>\n \u2013 Michael Duff, Managing Director at Change Strategy (UK)<\/p>\n<\/blockquote>\n “FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight \u2013 it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”<\/p>\n \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p>\n<\/blockquote>\n “Several times a month, I browse FlevyPro for presentations relevant to the job challenge I have (I am a consultant). When the subject requires it, I explore further and buy from the Flevy Marketplace. On all occasions, I read them, analyze them. I take the most relevant and applicable ideas for my work; and, of course, all this translates to my and my clients’ benefits.”<\/p>\n \u2013 Omar Hern\u00e1n Montes Parra, CEO at Quantum SFE<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":" Technology, Internet, growth, and globalization have metamorphosed the way we work, play, and live.\u00a0 They have even changed the fundamental laws of economics. \u00a0We are living in an economy that is quite different from the old manufacturing-based economy of the 1980s. \u00a0Fewer people are now employed in the manufacturing sector, who are anxious about the… 4 Leadership Mindsets Imperative to Win in the New Economy<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":6307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[408],"tags":[1423,640,106,1446,159,824],"class_list":["post-6154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-leadership","tag-business","tag-digital-economy","tag-leadership","tag-leadership-mindset","tag-management","tag-transformation"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=6154"}],"version-history":[{"count":8,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6154\/revisions"}],"predecessor-version":[{"id":7847,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6154\/revisions\/7847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/6307"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=6154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=6154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=6154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
![\"\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2020\/01\/New-Economy-4-Leadership-Mindsets.png\")
<\/a><\/p>\nThe Producer<\/strong><\/h2>\n
The Investor <\/strong><\/h2>\n
Do You Find Value in This Framework?<\/h2>\n