greg ellis - the new rivers of gold,
DESCRIPTION
We all know of the amazing rise to success of organisations like Yahoo, Google and Youtube that originated in the US and are now household names around the globe. What are our home grown success stories? Our panel will share insights from their unique journeys in building billion dollar businesses in the Australian business environment. What were their greatest challenges and risks? How did they manage the rapid growth of their businesses? As entrepreneurs did a board help or hinder their rapid growth? What are the transferrable learnings that will help to promote growth in other businesses and industries and ultimately the Australian economy?TRANSCRIPT
Greg Ellis MAICDCEO, Scout24
Summary• Australia needs 4 % GDP growth for sustained prosperity
• All of the reforms on the table today add up to 2.5 % GDP growth if executed well and quickly
• GDP growth must be equitably shared across the population
• We need to foster and drive a sustainable and human based growth agenda based on innovation
Why is this so hard ?• Innovation beyond start ups size companies is hard – CEO and company competencies are not capable
on average of managing in this world
• Non executive and chairpersons agenda have become overly personal.
• Non alignment at the board level and between the board to the CEO.
• Alignment means against a
- Purpose
- Organisational Model and philosophy of managing innovation based growth
- Reward and recognition framework
- Still able to satisfy the four key elements of the board role
- Balance between performance and support for the CEO
Investment optionsNew businesses Product or business extension
Excess capital what to do with it ? Efficiency and effectiveness
A new approach is needed• This century will be the century of the individual
• Government and companies have lost or are losing control based on the old command and control governance structures
E.g. Bit coin will change currency
Social media could see money diverted from the public to government to public to public cause initiatives
The internet allow so much information to be out there no one person can keep up and decision making needs to be pushed out to the edge of the market
Dis satisfaction with hierarchical political and business agenda is rising
• We should not be frightened by these changes nor should we ignore or resist them. We should embrace and adapt
A new approach is needed• Organisations need to become purpose driven
• Discussions at the board and C level need to be around
Purpose – Why we do what we do
Principles - How do we want our system of work to operate
Leadership skills – Sets recruitment and training / learning agenda
Values – How we treat each other
• Organisation culture needs to be based on the principles of lean and agile and holacracy
• Human synergistic tools can help in this process
• Think how your new system of work will operate – to leverage the above philosophy and across
three (3) horizons of time