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In HBOs hit show Succession, patriarch Logan Roy pitted his children against each other for the top spot of leading his media conglomerate. Those whove seen the show will know how it ends, but what if he took a different route? What if he established a collaborative, multi-generational leadership team to guide Waystar RoyCo into the future? Granted, it would have made for far less dramatic tension (and probably fewer award wins) for the show. But for Roys shareholders, it wouldve been a smarter move in a rapidly changing media industry. Succession planning is a non-negotiable principle for any thriving organization, yet its also one of the hardest to get right. And in todays volatile, fast-changing environment, proactive planning is even more critical. There are relentless technological disruptions, and diversity initiatives are under scrutiny. For the first time in history, five generations will work side-by-side in offices around the world. These dynamics present unique challenges for maintaining growth and stability. For CEOs, whose average age is 59, the following questions are critical: Are they equipped to engage Gen Z employees and the subsequent generation? Are they prepared to lead in an AI-driven world? Without support, the honest answer is often no. Last year, the Financial Times reported that a record number of CEOs stepped down due to investor pressures, technological disruptions, and underperforming markets. All of these factors are making the role harder than ever. After years of thought, I recently decided to appoint a new CEO for our U.K. and European business. It was a bold move as we skipped a few generations. But he was ready to take the reins after a lot of training, learning, and success. So far, its working. In a very short period, our business already feels more energized, agile, innovative, and resilient. Heres how you can create the same momentum for your business. Build an open culture of multi-generational learning By the time Generation Alpha enters the workforce, five generations will be working together in a single workplace. Rather than seeing this as a challenge, treat it as an opportunity. Harnessing multi-generational perspectives fosters creativity, improves decision-making, and strengthens collaboration across teams. To align generational differences, encourage multi-generational open learning. For example, you could introduce mentoring schemes that encourage a two-way flow of ideas and perspectives between senior and junior staff, rather than solely top-down programs. Balancing continuity with the pursuit of innovation is the leadership challenge of our times. A multi-CEO model with age diversity might just be the way to navigate it. A diverse suite of leaders can help bridge the gaps between generations because it creates a synergy that benefits employees, clients, and organizational growth. Identify and support the right successors from each generation Finding qualified leaders has always been a challenge, and todays hyper-disruptive business environment has only made it more difficult. From tech to media, industries undergoing transformation need leaders who can navigate complexity and disruption, even though it may be the first time theyve done it. You might be wondering whether you should promote internally or hire from the outside. My view is clear, and its that home-grown works best. Ive tried both, and in our type of business, growing a successor over time always seems to work better than bringing in someone from outside. Once youve identified a potential successor, help them rise with a development plan that gets them to the top job. Theyll have plenty of opportunities to succeed and fail along the way. By observing how they handle these moments, you build confidence in your choice. Just be aware that high-performing employees will have their choice of job offers, so you need to figure out how you can incentivize them to stay. Twice, Ive developed successors only to have them leave for competitors. Losing these experts can be costly and immensely frustrating. A multi-generational C-suite acts as a safety net, retaining these individuals while equipping them with the tools and mentorship they need to continue excelling. Act now to prepare for the future The best time to think about your succession strategy is now. Tomorrows leaders need opportunities to observe, contribute, and think collectively about the decisions, products, and services that will define your organization in three to five years. Invite emerging leaders to share their opinions and take on increased responsibility. Encourage them to collaborate across generations. By empowering future leaders today, you foster innovation and resilience for the years ahead. Succession wasnt just the heart of a TV drama; its a real-life leadership challenge. For business owners, Logan Roys missteps offer a cautionary tale. Procrastination and neglecting to nurture a diverse pool of future leaders are risks that no organization can afford. A multi-generational leadership pipeline isnt just an asset; its a necessity in an environment defined by rapid transformation and complexity. Developing new leaders while leveraging the expertise of seasoned executives positions your business to weather disruptions and capitalize on opportunities. Dont wait. Start building a forward-thinking succession strategy today and ensure that your organization is ready for tomorrows challenges. A dynamic, multi-generational C-suite can secure your place as a disruptor, not the disrupted.
Category:
E-Commerce
QVC’s bringing its always-on home shopping network to a TikTok livestream near you. The company announced Wednesday that it would host nonstop shopping livestreams on the app, the first of their kind on TikTok in the U.S. and part of a strategic agreement with the video-sharing platform, which is itself facing a critical moment. Its once-delayed ban is looming. But broadcast TV shopping needs to pivot to survive, and QVC sees TikTok as one of the best avenues to do that. “QVC and HSN hosts have mastered live shopping moments for decades and we’re thrilled to bring this entertaining shopping experience to TikTok’s community,” TikTok Shop’s head of U.S. operations Nico Le Bourgeois said in a statement. QVC Group, which runs the home shopping channels QVC and HSN, launched on TikTok Shop in 2024, but 24/7 live social shopping experiences represent a deeper push onto the app just days before it could go offline. TikTok could again be banned in the U.S. on Saturday if it doesn’t find a new American owner. QVC Group says on television it reaches more than 200 million homes, but with live TV viewing in decline, it’s had to invest in other platforms to reach a new generation of shoppers. The company has its own QVC+ and HSN+ streaming services as well as accounts on social networking sites like TikTok, where it has nearly half a million followers. QVC says more than 74,000 creators on TikTok have featured their items in shoppable videos or livestreams since last August. In some sense, TikTok and QVC’s UX are completely synergistic. The partnership retrofits the live, long-form linear tv format that made QVC famous in a context that’s familiar with young people today: an endless feed of people hawking goods. (TikTok videos are a less bite-sized as it is: uploaded videos can be up to 60 minutes long.) The company claims that bringing its approach to sales on social at this scale will revolutionize the space. Citing its expertise putting on “large-scale, high-volume, live social shopping,” QVC Group president and CEO David Rawlinson II said in a statement the company will bring to the endeavor its lineup of celebrities, hosts, brands, and products. “Our agreement will be a catalyst to transform shopping and discovery, not only for QVC Group and TikTok Shop, but also for social shopping at large,” he said. But first, they have to break-even. QVC Group ended Q4 with an almost $1.3 billion operating loss, and ended its year with an 8% drop in total revenue. Social media companies have worked to grow their shopping capabilities, but social shopping hasn’t taken hold in the U.S. to the extent that it has in other countries. Social commerce accounted for nearly 30% of all e-commerce in China last year, compared to less than 6% in the U.S., according to data from eMarketer. If QVC can successfully translate its experience selling products on TV to a smaller screen, though, that figure could grow.
Category:
E-Commerce
As of this year, EV chargers now outnumber gas pumps in the state of California. The state has an estimated 178,000 shared chargers for electric carsnot counting another 700,000 private chargers that are installed in single-family homes, according to the California Energy Commission. Thats compared to roughly 120,000 gas pumps across the state. The number of EV chargers nearly doubled since 2023, though part of the increase came from identifying charging stations that hadnt previously been counted. The official stats include both public chargers and those that are shared at workplaces or in apartment buildings. Its still only a fraction of the number of chargers that are coming. By the most recent estimate, California will need around 1 million public and shared private chargers by 2030, enough to support the estimated 7 million light-duty electric vehicles that may be on the road by then. By 2035, when a rule requiring new vehicles to be electric will go into effectthe state could need more than 2 million shared EV chargers. (That’s assuming the rule survives Trump’s attempts to kill it.) For drivers who own a house with a garage, charging overnight at home can easily cover most needs. Still, those drivers obviously need access to public chargers for longer trips. And around 45% of Californians are renters who dont have garages of their own. New building codes require new apartment buildings to make parking spaces EV ready, and also apply to existing parking spaces when older buildings are renovated or expanded. Renters also have the right to install chargers themselves when they have a designated parking space. The rules also require a certain number of parking spaces at motels and retail and commercial parking lots to be EV ready. “Retrofitting the existing stock of multifamily dwellings with chargers is a substantial challenge,” says Esther Conrad, a research manager at Stanford University who has studied the rollout of EV chargers. Charging EVs takes substantially longer than filling up with gas, which is the main reason so why more charging ports are needed than gas pumpsboth in order to prevent bottlenecks at charging stations and because chargers are used in different places, from parking lots to street parking in cities. But as charging tech and vehicles improve, the total number of chargers that are needed is likely to shrink from current estimates, says Harrison Reilly, a spokesperson for the California Energy Commission. (In China, tech is already much farther ahead, with some new cars capable of charging in roughly as quickly as it takes to pump gas.) The state will publish a new estimate of charging needs later this year. For the moment, Reilly says, there are enough chargers to support the number of light-duty EVs that are on California roads. That’s a major milestone; with nearly 2 million electric cars and light-duty trucks, California also has more EVs than any other state. Last year, around 25% of all new car sales there were electric. Other states can learn from California’s policy. “First, states should be developing clear and ambitious EV targets, especially as the federal government pulls back on some of the targets for the transition,” says Jeff Prosserman, CEO and cofounder of Voltpost, a company that converts streetlights so they can double as curbside EV chargers. “They were leading the charge by looking to have as a mandate 100% of new car sales to be electric by 2035.” The state’s requirement for new apartment buildings to add EV chargers is critical. It has also provided important financial support, including grants to add chargers in disadvantaged neighborhoods, and has pushed to help streamline permitting so projects can be built faster. There are still obstacles as it moves forward. “One of the big challenges is the need for additional grid capacity to handle all of the charging,” says Conrad, though the state is trying to help address that. She says that even more funding is needed to add chargers in some locations where private developers might not otherwise build them. As the Trump administration tries to cancel promised support for EV chargers, it puts more financial pressure on the state. But the network is still quickly growing now. Voltpost, for example, is moving forward on a project to add curbside EV chargers in some neighborhoods in San Francisco. “It’s in no way impacted by federal policyit’s state and city-driven,” says Prosserman. “From what we’ve seen at Voltpost, progressive states like California are going to continue providing funding opportunities to meet their climate targets with or without support from the federal government,” he says.
Category:
E-Commerce
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