The Most Iconic Business Transformation Visionary Leaders to Watch in 2024

VOL 07 I ISSUE 03 I 2024 VOL 07 I ISSUE 03 I 2024 D Dr r.. R Ra am me es sh h B Ba ab bu u Dr. Ramesh Babu D Dr r.. R Ra am me es sh h B Ba ab bu u Dr. Ramesh Babu C Ch he elllla ap pp pa an n Chellappan C Ch he elllla ap pp pa an n Chellappan A Visionary Leader in Strategy and Business A Visionary Leader in Strategy and Business Transforma?on in the Age of Ar?ficial Intelligence (AI) Transforma?on in the Age of Ar?ficial Intelligence (AI) and Digital Revolu?on, Leading Innova?on, and Digital Revolu?on, Leading Innova?on, Opera?onal Excellence and Driving Strategic Opera?onal Excellence and Driving Strategic Growth. Growth. The Most Iconic The Most Iconic Business Business TRANSFORMATION TRANSFORMATION Visionary Leaders Visionary Leaders to Watch in 2024 to Watch in 2024 A Comprehensive Guide A Comprehensive Guide The Essen?al Traits of The Essen?al Traits of Effec?ve Leaders Effec?ve Leaders Inspiring Innovation Inspiring Innovation How Leaders Foster How Leaders Foster Crea?vity in Teams Crea?vity in Teams Dr. Ramesh Babu Chellappan Dr. Ramesh Babu Chellappan Senior Director Senior Director Thomson Reuters Thomson Reuters

Leadership is not about being the best. It is about making everyone else better.

Trailblazers in Business The business world eagerly awaits the emergence of visionary leaders who are poised to redefine industry landscapes through their transformative strategies and innovative approaches. These leaders are recognized for their ability to anticipate market trends, harness disruptive technologies, and drive organizational change with remarkable foresight and agility. What sets these visionary leaders apart is their commitment to pushing boundaries and embracing complexity as catalysts for innovation. They inspire teams to embrace creativity and collaboration, fostering environments where bold ideas flourish, and traditional paradigms are challenged. Their strategic vision extends beyond immediate financial gains to prioritize long-term sustainability and societal impact, setting new standards for ethical leadership and corporate responsibility. As the global economy continues to evolve, these leaders are at the forefront of shaping industries through bold initiatives that address emerging challenges and opportunities. They leverage their deep understanding of market dynamics and consumer behavior to drive meaningful transformations that resonate across sectors. The influence of these visionary leaders serves as a beacon of inspiration and aspiration. Their ability to navigate uncertainty and lead with conviction positions them as pivotal figures to watch in 2024, driving conversations and setting benchmarks for leadership excellence and organizational resilience. Aspiring leaders and established businesses alike look to these transformative figures for insights, strategies, and inspiration to navigate and thrive in an increasingly dynamic global marketplace. Editor’s Editor’s Note Note

Contents Dr. Ramesh Babu Chellappan Dr. Ramesh Babu Chellappan 08 A Visionary Leader in Strategy and Business Transformation in the Age of Artificial Intelligence (AI) and Digital Revolution, Leading Innovation, Operational Excellence and Driving Strategic Growth. Profiles Kristin Ramlal 16 Changing the Percep?ons in the Financial Industry Mark Stirton 24 The Financial Visionary and Strategy Maestro Redefining the Score C O V E R S T O R Y CXO About Suzie Yorke 28 Articles A Comprehensive Guide 20 The Essen?al Traits of Effec?ve Leaders Inspiring Innovation 30 How Leaders Foster Crea?vity in Teams

Dr. Ramesh Babu Chellappan Dr. Ramesh Babu Chellappan 08 A Visionary Leader in Strategy and Business Transformation in the Age of Artificial Intelligence (AI) and Digital Revolution, Leading Innovation, Operational Excellence and Driving Strategic Growth. Profiles Kristin Ramlal 16 Changing the Percep?ons in the Financial Industry Mark Stirton 24 The Financial Visionary and Strategy Maestro Redefining the Score C O V E R S T O R Y CXO About Suzie Yorke 28 Articles A Comprehensive Guide 20 The Essen?al Traits of Effec?ve Leaders Inspiring Innovation 30 How Leaders Foster Crea?vity in Teams

Pooja M Bansal Editor-in-Chief CONTENT FOLLOW US ON Deputy Editor Anish Miller www.facebook.com/ciolook Managing Editor Prince Bolton www.twitter.com/ciolook WE ARE ALSO AVAILABLE ON DESIGN Featured Person Company Name Brief Visualizer Dave Bates Dr. Ramesh is a Senior Director at Thomson Reuters with Art & Design Director Davis Martin Dr. Ramesh Babu over 20 years of global experience in driving Thomson Reuters Chellappan transformative change and operational excellence across CONTACT US ON Associate Designer Jameson Carl thomsonreuters.com Senior Director diverse industries and geographies. Email info@ciolook.com SALES Experienced not-for-profit executive with in-depth For Subscription knowledge of branding and marketing, and a track-record Brooke USA Senior Sales Manager Wilson T., Hunter D. Emily Dulin www.ciolook.com of success in fundraising - from major gifts and planned Brookeusa.org CEO Customer Success Manager Brown D. giving to special events and direct mail. Copyright © 2024 CIOLOOK, All Sales Executives Tim, Smith rights reserved. The content and images used in this Kristin Ramlal Canada Life Institutional Kristin, a seasoned financial services professional with 20+ magazine should not be years' experience, specializes in Canadian and US banking, TECHNICAL Vice-President, Investment Solutions reproduced or transmitted in investment management, and holistic wealth advisory. Institutional Sales canadalife.com any form or by any means, Technical Head Peter Hayden electronic, mechanical, photocopying, recording or Technical Consultant Victor Collins With a proven history of achieving both financial and Mark Stirton otherwise, without prior Mr Price Group Ltd. non-financial business model transformation, Mark uses permission from CIOLOOK. Chief Financial SME-SMO his default design and system thinking mindset to twgcareers.co.nz Reprint rights remain solely Officer navigate change. with CIOLOOK. Research Analyst Eric Smith Suzie is a proud mom, partner, and first-time entrepreneur SEO Executive Alen Spencer at age 50, she's on a fierce mission to revolutionize Suzie Yorke The Better Chocolates nutrition by spreading the word that Fat is back and Sugar CEO and Co-founder thebetterchocolates.ca is out! sales@ciolook.com July, 2024

C o v e r S t o r y Dr. Ramesh Babu Dr. Ramesh Babu Chellappan Chellappan A Visionary Leader in Strategy and Business Transformation in the Age of Artificial Intelligence (AI) and Digital Revolution, Leading Innovation, Operational Excellence and Driving Strategic Growth. R Transformation is not a solo flight. Secure buy-in from top leadership to ensure the necessary support and resources for your initiatives.

enior Director at Thomson Reuters, Dr. Ramesh provided him with a deeper understanding of the Chellappan boasts over twenty years of critical role of quality in ensuring sustainable S experience driving business agility, technology operations. Subsequently, at Infosys, he transformative change, operational excellence and witnessed firsthand the transformative effects of customer experience across various industries and ongoing process optimization efforts on service A clear, actionable geographies. Leading the Process Excellence function delivery and customer satisfaction. These early for Global Capability Centers Operations and experiences laid the foundation for his passion for strategic vision is the foundation of Technology business units, Ramesh facilitates business business transformation, instilling in him a drive to seek process reimagination, digital transformation, AI out inefficiencies and relentlessly pursue better ways of any successful transformation. It adoption and innovation initiatives, orchestrates redesigning business processes to maximize value for change transformation programs, and uncovers customers. guides decision-making, provides opportunities for efficiencies and intelligent direction during uncertainty, and automation. As his career progressed, Ramesh’s interest in business transformation evolved into a central professional helps align the entire organization Ramesh’s career journey reflects a relentless pursuit of focus. He began to recognize the broader implications learning, leadership, and transformation. Beginning at of transformation initiatives, not just for the bottom towards common goals. Jove Corp, where he honed his skills in quality line but for the entire organizational ecosystem. In management, Ramesh has navigated diverse roles to his roles at ANZ Banking Group and HSBC Group, he led current position at Thomson Reuters. Along the way, he changes that spanned operational transformation and implementation and thorough training programs. has championed customer centricity and operational customer engagement strategies, leveraging his early Ÿ Scalability of Solutions: Designing transformation excellence within global business organizations, experiences to guide strategic improvements and foster strategies that are scalable and adaptable by involving overcoming a myriad of challenges with adaptability organizational excellence. Through experiences across stakeholders early and prioritizing areas of highest multiple geographies and business functions, Ramesh and resilience. impact. gained a comprehensive understanding of what true Ÿ Cross-Functional Coordination: Integrating initiatives Ramesh’s successes, whether driving substantial cost business transformation entails. It became evident that across various departments by establishing cross- optimizations, revenue growth or leading teams to transformation is not merely about incremental functional teams and governance structures for better deliver strategic programs with exceptional customer improvements but about fundamentally reimagining communication and alignment. experience scores, have been deeply rewarding and reshaping organizations to thrive in the dynamic Ÿ Measuring Transformation Impact: Developing milestones in his journey. Despite the twists and turns, and evolving landscape of modern business. comprehensive impact-benefits metrics frameworks to including economic downturns, technological quantify the impact of transformation initiatives using disruptions, and organizational restructures, Ramesh Overcoming the Adversities with Resilience leading and lagging indicators. has remained steadfast in his commitment to guiding Ÿ Sustainable Change Management: Ensuring sustained diverse global teams towards a common vision. His Ramesh faced several significant challenges during his change by creating ‘change networks’ comprising change leadership style, marked by strategic acumen and a transformation initiatives: champions and fostering a culture of continuous profound understanding of cross-cultural dynamics, has improvement. enabled him to forge cohesive high performance teams Ÿ Resistance to Change: Overcoming resistance to Ÿ Balancing Quick Wins with Long-Term Goals: Achieving a and drive impactful strategies to fruition. change by implementing extensive change balance between immediate results and long-term management strategies, including awareness strategic goals by identifying and implementing ‘quick For Ramesh, the journey to his current role is defined sessions, educational workshops, and regular wins’ while pursuing broader initiatives. not by titles but by the invaluable lessons learned and communications. Ÿ Upskilling and Reskilling Workforce: Ensuring the the tangible impact achieved in fostering efficiency, Ÿ Leadership Alignment and Continued Sponsorship: workforce had the necessary skills to adapt to new transformation, and growth. Securing executive support throughout the journey processes and technologies through comprehensive through regular briefings and clear roadmaps linked talent development programs. Early Journey Insights to business outcomes. Ÿ Maintaining Operational Continuity: Ensuring day-to- Ÿ Aligning Global Teams: Ensuring alignment of day operations were not disrupted during the Ramesh’s journey into the realm of business globally dispersed teams by establishing clear transformation process by developing robust risk transformation was not sudden but rather a gradual communication channels, shared collaboration mitigation strategies and transition plans. realization of the profound impact of meticulous platforms, and regular connect meetings. process improvement and strategic technology Ÿ Technological Integration: Addressing compatibility By addressing these challenges effectively, Ramesh was able implementation. It began during his tenure at HCL issues and disruptions caused by integrating new to drive successful transformations and achieve Technologies, where his role in quality assurance technologies into existing systems through phased organizational excellence.

Transcending with the Elements of Innovation Ramesh applies his expertise in strategic projects and Ÿ Leadership Buy-In is Crucial: Without the support of consulting roles, developing digital technology and senior leadership, transformation initiatives can Ramesh excels in navigating emerging trends and automation roadmaps, and advising on the flounder. Gaining and maintaining this support technologies in business transformation through a implementation of emerging technologies like process involves regular communication of the robust strategy. He prioritizes continuous education, mining, RPA, and AI. This hands-on approach ensures transformation’s progress and its alignment with the earning advanced degrees like a Ph.D. in Management, his knowledge remains relevant and impactful in organization’s strategic objectives. various Master degrees in multiple disciplines such as driving business transformation. Ÿ Customer-Centricity Ensures Relevance: Keeping A clear, actionable Operations Management, Software Systems, Business the customer at the center of transformation efforts Laws, Data Science and certifications such as Lean Six Leading with Ambition ensures that changes are market-driven and that strategic vision is the foundation of Sigma, Customer Centricity, Artificial Intelligence, the organization remains competitive. Enterprise Agile Coaching and Program Management Reflecting on his extensive experience in leading Ÿ Culture is the Bedrock of Change: An organization’s any successful transformation. It certifications. Actively participating in industry forums, business transformations, Ramesh has distilled some culture can either accelerate or hinder guides decision-making, provides he stays updated and exchanges ideas with peers. valuable lessons that have shaped his approach: transformation. Cultivating a culture that values agility, innovation, and continuous improvement is direction during uncertainty, and In his teams, Ramesh fosters innovation by encouraging Ÿ Strategic Vision is Paramount: A clear, actionable essential for transformation to take root and experimentation with digital tools and technologies. He strategic vision is the foundation of any successful flourish. helps align the entire organization emphasizes continuous learning to ensure proactive transformation. It guides decision-making, provides Ÿ Communication Must Be Clear and Consistent: adoption of new solutions for enhanced efficiency and direction during uncertainty, and helps align the Change can cause uncertainty. Clear, consistent, and towards common goals. competitiveness. entire organization towards common goals. transparent communication is vital to manage the expectations and concerns of all stakeholders culture, and technology in sync with market demands involved in the transformation process. and organizational vision. Ÿ Employee Engagement Drives Success: Engaging employees at all levels and making them feel part of Setting a Clear Direction for Transformation the transformation journey increases their commitment and contribution to the change Based on his experience, Ramesh shares a few pieces of process. advice for aspiring business leaders embarking on Ÿ Change Management is an Ongoing Process: transformation journeys: Transformation is not a one-off event but an ongoing process. It requires continuous Start with a Vision: Start with a strong, clear vision that management, monitoring, and adaptation to ensure addresses both the present and future needs of the that the transformation is sustained. business. It should inspire and serve as a north star for Ÿ Data-Driven Decision Making is Key: Utilizing data your transformation efforts. to inform decisions ensures objectivity and helps to identify areas of improvement, measure progress, Secure Executive Support: Transformation is not a solo and validate the impact of transformation efforts. flight. Secure buy-in from top leadership to ensure the Ÿ Upskilling is a Continuous Need: As new necessary support and resources for your initiatives. technologies and processes are implemented, continuous upskilling and reskilling of the workforce Be Customer-Centric: Align your transformation are necessary to keep pace with the transformation. closely with the needs and expectations of your Ÿ Measure and Celebrate Success: Establishing customers. They are the ultimate judges of your efforts. metrics for success and celebrating milestones not only tracks progress but also builds momentum and Leverage Data: Make decisions based on data, not just supports the cultural shift towards embracing intuition. Use analytics to guide your transformation change. and measure progress. These lessons, gleaned from numerous transformation Foster a Culture of Change: Build a culture that initiatives, underscore the multifaceted and dynamic embraces change rather than fears it. Encourage nature of leading change within organizations. Each innovation, reward flexibility, and ensure everyone lesson contributes to a holistic approach that understands the value of the transformation. recognizes the complexity of transforming operations,

Communicate Effectively: Keep communication open, honest, and frequent. Every member of your team should understand the why, what, and how of the transformation process. Engage Teams: Involve people at all levels in the Subscribe Subscribe transformation process. Their insights can provide valuable perspectives that strengthen your strategy. Manage Change Proactively: Anticipate resistance and plan for it. Change management should be an integral T To odda ay y T To odda ay y part of your transformation strategy. Invest in People: Recognize that your and all other team’s skills may need to evolve with the transformation. Invest in training and development to close the skills gap. CHOOSE OUR SUBSCRIPTION Celebrate Milestones: Recognize and celebrate progress. It helps maintain momentum and morale, and 1 Yea« 6 M·h¯ it reinforces the behavior you want to see as your organization transforms. 12 I¯¯¼e¯ 6 I¯¯¼e¯ Embarking on a transformation journey is a complex $250 $130 but rewarding endeavor. It’s important to lead with empathy, maintain a strategic focus, and be prepared to adapt as the market evolves. 3 M·h¯ 1 M·h The Convergence of Technologies 3 I¯¯¼e¯ 1 I¯¯¼e In the future of business transformation, Ramesh $70 $25 envisions a landscape where emerging technologies are vision encompasses not only the technology itself but integrated into adaptable business models to navigate also the cultural shift required to embed these changes dynamic market dynamics. This era will see the within the organization. Additionally, fostering a convergence of digitalization, intelligent automation, culture of continuous learning and adaptability will be artificial intelligence, and advanced analytics, all aimed crucial to ensure the workforce is prepared to leverage Stay in the known. at improving decision-making and operational new tools and methodologies. efficiency. As businesses pursue greater agility, the ability to swiftly deploy and scale new technologies will Ramesh further adds that the transformational leaders S¼b¯c«lbe · CIOLOOK become a competitive advantage. Therefore, the role of of the future will need to champion sustainable the transformation leader will increasingly focus on practices, guiding businesses towards operations that Get CIOLOOK Magazine in print, and orchestrating these technologies within the business are not only efficient but also socially and digital on www.ciolook.com framework to drive innovation and maintain environmentally responsible. With environmental and competitiveness. social governance (ESG) becoming integral to corporate strategy, Ramesh sees his role involving the integration In this evolving landscape, Ramesh sees his role of these principles into transformation initiatives to transforming into that of a strategic orchestrator and ensure they contribute to broader societal goals. an innovation catalyst. He envisions taking on the responsibility of anticipating market trends and leading organizations through the complexities of digital transformation. This entails ensuring that his strategic

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A Comprehensive Guide The Essential Traits of Effective Leaders Leadership is not merely a position but a dynamic process that requires a unique set of skills, traits, and behaviors. Effective leaders are those who can inspire, guide, and empower others towards achieving common goals. Whether in business, politics, or community settings, certain fundamental traits consistently emerge as pivotal to successful leadership. Further, we discover these essential traits, providing insights into what makes leaders not only competent but exceptional. Visionary Thinking At the core of effective leadership lies visionary thinking. Leaders with vision have a clear sense of purpose and direction. They can articulate a compelling vision that inspires others to align their efforts towards a common goal. Visionary leaders anticipate future trends, challenges, and opportunities, enabling them to steer their teams or organizations towards success. Steve Jobs, for example, famously envisioned a future where technology seamlessly integrates into everyday life, revolutionizing industries through innovation and design. Emotional Intelligence Emotional intelligence (EQ) is another critical trait of effective leaders. Leaders with high EQ are self-aware and empathetic, able to understand and manage their own emotions while also empathizing with others. This ability to connect emotionally with team members fosters trust, collaboration, and a positive work environment. Leaders like 20 21 www.ciolook.com | July 2024 | www.ciolook.com | July 2024 |

Oprah Winfrey are celebrated for their ability to agility within their teams. Leaders like Jeff Bezos have empathize with diverse perspectives and connect with demonstrated remarkable resilience in building audiences on an emotional level, which has been Amazon into a global powerhouse despite facing A leader is one who instrumental in their success. numerous setbacks and challenges along the way. knows the way, goes the Integrity and Authenticity Ability to Delegate and Empower way and shows the way. Integrity forms the foundation of trust in leadership. Effective leaders understand the importance of Authentic leaders are honest, ethical, and consistent in delegation and empowerment. They recognize their their actions and decisions. They uphold high standards own limitations and leverage the strengths of their of fairness and transparency, earning respect and team members to achieve collective goals. By loyalty from their teams. Leaders who embody empowering others with autonomy and responsibility, integrity, such as Nelson Mandela, inspire others leaders foster a sense of ownership and commitment through their unwavering commitment to principles among their teams. Leaders such as Indra Nooyi have and values, even in the face of adversity. excelled in empowering their teams at PepsiCo, fostering a culture of innovation and inclusivity that Strategic and Critical Thinking drives sustainable growth and success. Effective leaders possess strong strategic and critical Commitment to Continuous Learning thinking skills. They can analyze complex situations, identify key issues, and formulate innovative solutions. Great leaders are lifelong learners committed to Strategic thinking enables leaders to make informed personal and professional growth. They seek out new decisions that align with long-term objectives, while knowledge, skills, and perspectives to stay ahead of critical thinking allows them to evaluate risks and industry trends and evolving challenges. Continuous opportunities with clarity and precision. Elon Musk learning enables leaders to adapt to changing exemplifies this trait through his strategic vision for circumstances, inspire innovation, and mentor the next Tesla and SpaceX, driving forward ambitious goals in generation of leaders. Bill Gates exemplifies this trait sustainable energy and space exploration. through his dedication to lifelong learning and philanthropy, continually seeking to expand his Communication Skills knowledge and make a positive impact on global issues. Communication lies at the heart of leadership In conclusion, effective leadership is a multifaceted effectiveness. Leaders must articulate their vision, endeavor that requires a combination of visionary goals, and expectations clearly and persuasively to thinking, emotional intelligence, integrity, strategic inspire and motivate their teams. They also need active acumen, communication skills, resilience, delegation, listening skills to understand diverse viewpoints and and a commitment to continuous learning. While these foster open dialogue. Effective communicators like traits are essential, great leaders also possess a passion Sheryl Sandberg leverage their communication skills to for their mission, the ability to inspire others, and a empower and mobilize teams towards achieving relentless drive to achieve excellence. By cultivating organizational goals, fostering a culture of these traits and behaviors, aspiring leaders can not only collaboration and innovation. succeed but also make a lasting impact on their organizations, communities, and the world at large. Resilience and Adaptability In today's fast-paced and unpredictable world, resilience and adaptability are indispensable traits for leaders. Resilient leaders remain calm and composed under pressure, navigating challenges with grace and determination. They embrace change as an opportunity for growth and innovation, encouraging flexibility and 22 www.ciolook.com | July 2024 |

Mark Stirton IenvisagethatIwilllead businessesintothefuture whohaveadesireto he South African retail landscape is highly Mark's career began at PwC, where he gained ““ dynamic and competitive. The market is invaluable insights into the corporate world. However, evolvetheirbusiness T characterized by a diverse range of players, from his entrepreneurial spirit led him to choose the path large multinational retailers to small, independent less traveled. He joined a medium-sized group with modelsoraredecidingto businesses. Mr Price Group Ltd. is one such prominent diverse business interests, honing his understanding of player grabbing opportunities by adapting to trends in various industries' unique value-creation models. createacompletelynew this changing landscape and meeting the needs of championchallenger consumers. The most profound lesson Mark learned during this period was that the mindset of a founder differs model.” Among the key figures steering the ship at this omni- significantly from that of an employee. "Their business is channel fashion value retailer is Mark Stirton, the Chief their life," he notes, emphasizing the importance of Financial Officer (CFO) of Mr Price Group Ltd. Mark's aligning passion with work as the founders do. role as CFO is instrumental in guiding the financial strategies of the organization, ensuring it remains agile Mark's journey of self-discovery continued as he and competitive in the ever-changing retail landscape. assumed leadership roles at prominent organizations. He stressed the importance of humility and hands-on He is passionate about strategy execution and how experience, encapsulated in the concept of "packing the organizations need to adopt a two-speed approach of truck." It's about understanding the intricacies of a task performance and transformation particularly if they are before delegating it. legacy organizations that are stuck. His climb to the top was marked by transitions and Let's delve into a story of resilience, innovation and a bright challenges. Mark's career trajectory involved strategic future in the world of fashion and lifestyle retail! business development, large-scale acquisitions and restructuring legacy systems. However, he recognized From Pennies to Profits that complacency and legacy thinking often hinder growth in organizations. Mark's journey from the child of an immigrant entrepreneur to a seasoned corporate leader is Mark's advice is clear—leaders must cast a compelling evidence of his determination to understand and vision, align intentions and patiently lead their teams master the complexities of money management. through change. He has recently stepped down from his Inspired by his father's ups and downs in the liquor and role as Group Chief Financial Officer, ready to reset for hospitality trade, Mark embarked on a mission to the next chapter of his career. ensure his family's financial security. Following the Money Trail "Understanding money became my priority. I didn't want my family to face the same struggles," Mark says. His first Mr Price Group is a JSE top-40 listed retailer that plays passion, art and design, initially seemed at odds with his in the fashion value apparel and homeware segments of financial ambitions. However, he found a way to blend the market, together with an interest in the financial the two worlds, realizing that "form always unlocks services and telecommunications space. function.” 24 25 www.ciolook.com | July 2024 | www.ciolook.com | July 2024 |

At its peak pre-covid, its market capitalization Finance Unplugged often hindered by dysfunctional teams, as described by outfits from various retailers with a seamless checkout exceeded R60bn. It has over 25,000 staff and almost Patrick Lencioni. process. It's a game-changer for shoppers seeking 3,000 stores across its various brands. Its geographical With a growth mindset and an unquenchable thirst for convenience and tailored experiences. presence is concentrated in South Africa with a strong knowledge, Mark continually seeks new horizons of Equal Opportunities, Stronger Returns presence across the rest of the major southern African growth and value creation. He shatters the mold of Looking ahead, Mark anticipates the metaverse's economies. mere iteration, opting instead to "re-imagine" "Diversity," Mark emphasizes, "isn't limited to gender or emergence as a major retail frontier. In this digital organizations to unlock opportunities both within and race. It's about harnessing the exponential power of our realm, alongside digital currencies, new markets will Vision: To be the most valuable retailer in Africa. beyond their boundaries. differences as an advantage." In South Africa, where an flourish as people lead both physical and digital lives. employment equity bill promotes diversity in the It's a glimpse into the exciting possibilities that AI and Mission: To deliver low-price differentiated fashion Mark's unique blend of digital fluency and deep workforce, businesses are urged to reflect the nation's technology hold for the future of retail. value merchandise to its target mass market consumer expertise in big data and visualization technologies diversity. base every day. equips him to craft solutions that embrace modern The Road Ahead building blocks, reshaping the way businesses operate. Mark's company takes this seriously, setting annual Purpose: To be the people's value champion His re-engineering prowess allows him to reshape diversity targets overseen by its Sustainability, Ethics "I envision leading businesses into the future, whether they people, processes and systems, revealing the hidden and Transformation committee. This commitment to seek to evolve their existing models or create entirely new value often obscured by legacy thinking and habits. embracing differences ensures a workplace that's not ones," Mark declares. He hopes for Mr Price to only representative of the country but also fosters an accelerate its transformation efforts, recognizing the A champion of systems thinking, Mark architects' environment where everyone can thrive. It's the belief incredible potential of technology when harnessed by a solutions that minimize friction across enterprises, that true progress is born from the collective strength forward-thinking workforce. ensuring smooth execution. He employs tools like the of diverse perspectives. business canvas model and the double diamond model Mark emphasizes the importance of educating teams to distill opportunities and, crucially, bring them to life Culture as Currency about these new mediums of innovation to dispel fear with stakeholders. and embrace change. With alignment between Mark firmly adheres to the Golden Rule, emphasizing technology and people, change becomes a natural and positive force. It's a vision of a future where businesses As a devoted student of the OKR methodology, as used that at Mr Price, every employee should apply it when embrace the power of technology and thrive through by industry giants Google and Intel, Mark believes that interacting with colleagues and stakeholders. This better execution is the ultimate corporate challenge. principle underlines the company's commitment to innovation and adaptation. He understands the power of collective brilliance respect and empathy. through collaboration and encourages others not to Bequeathing Wisdom hesitate when reaching out to their network for an In his journey at Mr Price, Mark relies on three guiding outside perspective. principles—Passion, Value Creation and Partnership. "Your voice matters in business—don't underestimate your These core values shape the company's culture and contribution," Mark urges. He emphasizes the The Depths of Business Wisdom help him ensure alignment with its ethos. Passion drives importance of authenticity, advising against conforming their work, value creation fuels innovation and to gender stereotypes. In a corporate world often Mark sees the corporate world as a theatrical partnerships strengthen their collaborative spirit. lacking compassion, Mark believes empathy is crucial. performance. He observes, "You have multiple scenes As a father of daughters, he hopes for a future where outworking themselves simultaneously—you have various Counting Coins in a New Era they can break free from societal constraints and make actors who all have different roles yet all need each other to a positive impact. Mark's message resonates with the keep the story together." In this dynamic narrative, the The proliferation of AI has ushered in a creative need for diverse voices and compassionate leaders in outcome isn't pre-written—instead, it evolves daily, revolution, turbocharging the creative process. business, inspiring change and progress for all. influenced by changing roles and decisions. Generative AI, in particular, is transforming industries To Mark, business isn't merely a game—it resembles a like marketing and fast fashion. Mark notes that it war with a series of battles. Success hinges on strategic enables the rapid generation of unique images based on trade-offs, knowing which battles to prioritize while user prompts, revolutionizing merchandise design and sacrificing others to achieve the ultimate goal. speeding up the product cycle significantly. In Mark's view, the challenge lies in execution. He But AI's impact goes beyond aesthetics. Mark envisions highlights that "business executives are great at a future where personalized AI shopping assistants are formulating plans, but it's in the execution that these plans the norm. These digital companions understand your unravel." Trust, a vital ingredient for goal attainment, is size, style preferences and budget, recommending 26 27 www.ciolook.com | July 2024 | www.ciolook.com | July 2024 |

Inspiring Innovation How Leaders Foster Creativity in Teams n the modern world, innovation is not just a buzzword but a necessity for organizations striving to stay competitive and relevant. At the heart of I innovation lies creativity, and effective leaders play a pivotal role in fostering a creative environment within their teams. Further, we understand how leaders can inspire and cultivate creativity, driving innovation and sustainable growth. Understanding Creativity in Teams Creativity is the ability to generate novel ideas or solutions that are both original and valuable. It thrives in environments where individuals feel empowered, supported, and encouraged to think differently. Teams that harness creativity are more likely to develop groundbreaking products, improve processes, and adapt to changing market demands effectively. 1. Cultivating a Culture of Psychological Safety One of the fundamental ways leaders foster creativity is by creating a culture of psychological safety. Team members must feel safe to express their ideas, take risks, and challenge the status quo without fear of criticism or retribution. Leaders who prioritize inclusivity and open communication build trust among team members, encouraging them to share diverse perspectives and explore unconventional solutions. Google, known for its innovative culture, emphasizes psychological safety as a cornerstone of its teams' success, enabling employees to experiment and innovate freely. 2. Encouraging Diverse Perspectives Effective leaders understand the value of diversity in driving innovation. They actively seek out diverse perspectives and experiences within their teams, recognizing that different backgrounds and viewpoints can spark creativity and lead to breakthrough ideas. By fostering an inclusive environment where all voices are heard and respected, leaders cultivate a rich tapestry of ideas that 30 31 www.ciolook.com | July 2024 | www.ciolook.com | July 2024 |

drive innovation forward. Companies like Pixar Studios technology and user experience, resulting in iconic Don’t worry attribute their success in creating beloved animated products like the iPhone. films to their commitment to diversity and inclusion, which fuels creativity and storytelling excellence. 6. Celebrating and Rewarding Innovation about failure; 3. Providing Resources and Support Recognition and rewards play a crucial role in reinforcing a culture of creativity and innovation. you only have Creativity thrives when individuals have access to the Leaders who celebrate and acknowledge individuals necessary resources, tools, and support. Leaders play a and teams for their innovative contributions inspire to be right crucial role in providing these resources, whether it's others to strive for excellence and think creatively. By time for brainstorming sessions, funding for research publicly recognizing achievements and providing and development, or access to mentorship and training meaningful incentives, leaders reinforce the once. programs. By investing in their teams' growth and organization's commitment to fostering creativity and development, leaders demonstrate their commitment innovation as core values. Companies like SpaceX to nurturing creativity and empowering individuals to incentivize innovation through competitions and explore and experiment with new ideas. Companies like recognition programs that highlight employees' 3M have famously encouraged innovation through contributions to advancing space exploration initiatives like the "15% Rule," where employees can technology. dedicate a portion of their work time to pursuing projects of personal interest, leading to inventions such Conclusion as Post-it Notes. Leaders have a profound impact on fostering creativity 4. Embracing a Growth Mindset within their teams by creating a culture of psychological safety, encouraging diverse perspectives, Leaders who foster creativity embody a growth providing resources and support, embracing a growth mindset, believing that abilities and intelligence can be mindset, empowering autonomy and ownership, and celebrating innovation. By prioritizing creativity and developed through dedication and hard work. They encourage their teams to embrace challenges, learn innovation as strategic imperatives, leaders not only from failures, and view setbacks as opportunities for drive organizational success but also cultivate a growth and innovation. By promoting a culture where dynamic and resilient workforce capable of navigating experimentation and iteration are celebrated, leaders complex challenges and seizing opportunities in today's inspire resilience and creativity among their teams. competitive landscape. Aspiring leaders can learn from Amazon's leadership principles, which emphasize a bias these principles and practices to inspire innovation and for action and a willingness to invent and simplify, drive sustainable growth in their own teams and encourage employees to think big and innovate organizations. continuously. 5. Empowering Autonomy and Ownership Creativity flourishes when individuals have the freedom to explore and take ownership of their ideas. Effective leaders empower their teams by granting autonomy and encouraging initiative, allowing individuals to pursue projects aligned with their passions and strengths. By fostering a sense of ownership, leaders instill a commitment to excellence and accountability, motivating team members to innovate and drive results. Companies like Apple empower their design teams by giving them the autonomy to experiment and push the boundaries of 32 www.ciolook.com | July 2024 |

The Most Iconic Business Transformation Visionary Leaders to Watch in 2024

The Most Iconic Business Transformation Visionary Leaders to Watch in 2024

Presentation Transcript

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