A panel last night tried to determine what exactly makes, or breaks, an "e-leader", at a Gordon Institute of Business Science (GIBS) forum.
[VIDEO]There was little doubt among participants that a fast-changing environment requires a new type of leader, one that can keep up with Internet-speed events.
"We have seen huge changes in attitude take place among these people," said Sarah Mulhern, director of the Spencer Stuart executive search consultant office in Paris. She believes the dot-com bubble bust, which sent share prices tumbling, made technology workers more risk-sensitive and recruitment into a start-up business far more difficult.
Established companies trying to re-engineer their businesses for the Internet challenge also present problems.
"It is very difficult to take risks when you have shareholders. You need confidence from them and confidence in yourself."
[VIDEO]Mulhern said candidates for leadership positions in Internet companies are more sophisticated in their career objectives than before, and less trusting. They want to see a robust business model with clear profit timelines, they want to know that the founders and backers have a good track record, and there must be a compelling story attached to the offer.
"At the end of the day it is all about the fit into the company culture. When they walk through the door there has to be that chemistry," she noted.
Companies, on the other hand, are less enamoured with highly talented mavericks with an ability to burn through other people`s money. "They want candidates who don`t know how to spend millions and millions, but rather spend intelligently."
Michael Johns, manager of private equity at Archway Venture Capital (a shareholder in ITWeb), agreed that e-leaders should know financial prudence.
"We look for fixed overhead structures, so that you know what your [money] burn-rate is going to be." He also identified a clear vision and the ability by "technical boffins to let go and hand over to professional management" as requirements.
Nicolaas Vlok, CEO of JSE-listed Idion, said his company is now learning to deal with professional managers as it enters a new phase in its growth. Good ideas are never a bad thing, he believes, but at some stage a new element is needed.
"You have to bring power into the equation. By manipulating power, these managers can get a great deal done."
Lenore Kerrigan, MD of Oracle South Africa, highlighted the need to embrace change, and an overriding passion and conviction as essential elements to success.
[VIDEO]"The real leaders today are the ones who believe with belly-conviction and won`t let go when others say something is impossible. Find those mavericks, and find out what they have to say."
In the end though, Mulhern said, there is no list of characteristics that will make an e-leader a success. As with business in general, experimentation and failure is the only way to find the right person.
External links:
http://www.lessonsfromthetop.com/eq/
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