The Lead: IMF Chief Resigns, Deadly Floods in South Asia, Nanomedicine

Welcome to The Lead, AchieveForum’s weekly brief of leadership news and insights. This curated content will provide you with quick clarity into relevant headlines and provide straight-forward analysis for applying effective leadership tools and techniques. 

International Monetary Fund (IMF) Chief Resigns

Effective September 12, 2019, Christine Lagarde will no longer be the International Monetary Fund chief. She recently announced her resignation and said “With greater clarity now on the process for my nomination as ECB (European Central Bank) President and the time it will take, I have made this decision in the best interest of the Fund, as it will expedite the selection process for my successor.”

Our View: Every time a leader transitions to a new role, she has the opportunity to leave a legacy. The greatest legacy a leader can leave is the development of future leaders. When leaving a position and training a new leader for the role, allot enough time for the transition. Guide the new leader by remaining available for mentorship, sharing your relevant professional network, and encouraging an ownership mentality. Further Reading

Related AchieveForum content: Leading Through Transitions

Deadly Floods in South Asia

Every year floods in South Asia during monsoon season cause mass displacement and deaths, and this year’s monsoon season havoc is likely to increase in coming weeks. Already this year, flooding and landslides in India, Nepal, and Bangladesh have killed over 100 people, displaced millions, and swept homes away, including shelters at refugee camps.

Our View: Business leaders can prepare for natural disasters before they occur by identifying the worst case scenario, writing down who does what should the event occur, and creating a communication plan that reaches employees and clients and includes information about recovery. In the U.S. use FEMA’s website for updates on issues regarding water usage, access points, road closures, flights, permits, and donations, etc. Further Reading

Nanomedicine

Nanomedicine is the ability to manipulate the human body at a level deeper than the cell.  Though nanomedicine still has a long way to go, it already has early applications on the market with the potential to disrupt and reform healthcare. Targeted, personalized healthcare sparked through nanomedicine will change diagnosis, drug delivery, and the overall patient experience. 

Our View: Starting small can be as important as thinking big. You don’t need to boil your business challenges down to the nano-scale though. Starting small means finding solutions that work for specific problems and then figuring out how to scale them. Starting small allows you to fail fast and experiment before affecting the overall business. Further Reading

Related AchieveForum content:  Influencing Behavior in the Digital Age

U.N. Report on World Hunger and Obesity

In 2018, an estimated 820 million people did not have enough to eat (a third year of increase), while the overweight and obesity population continues to climb as well. This highlights the difficulty in facing global challenges, obtaining meaningful change, and achieving goals set by the United Nations. Sustainable Development Goal 2 Zero Hunger aims to end hunger, promote food security, and end all forms of malnutrition by 2030.

Our View: Just like problems on the global scale, business problems are complex, and opposite problems can occur in the same business environment simultaneously. Leadership in change management also becomes more complex and delicate. People often resist change because they don’t have sufficient input in shaping it, so give your team the appropriate tools to make their voices heard. Further Reading

Related AchieveForum content:  Dilemma Management, Leading Complex Decision

Laser-guided Robo Umpires

Robo umps are ready to judge what’s a ball and what’s a strike, but many MLB players are skeptical about that type of AI and what it would mean for baseball. San Francisco shortstop Brandon Crawford said, “It takes away the human element. Unless it’s 100 percent accurate, it would be tough to implement in the big leagues.”

Our View: Off of the baseball field, AI is still far from replacing human judgement, but it can augment it. For example, customer service representatives will see their work augmented by AI-powered assistants that anticipate needs by context, deliver relevant content, and become smarter over time. Leaders must develop training and recruitment strategies to master creativity, collaboration, empathy, and judgement skills to prepare their workforce to leverage AI. Further Reading

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