Four companies:
- Gucci
- Accor Hotels
- Stora Enso
- Group M India
One thing they have in common: Having a shadow board.
Here’s what shadow boards are, how they lead to business growth, and the life lesson you can learn from them…
🧵
- Gucci
- Accor Hotels
- Stora Enso
- Group M India
One thing they have in common: Having a shadow board.
Here’s what shadow boards are, how they lead to business growth, and the life lesson you can learn from them…
🧵
First, a definition:
Shadow boards are groups of young, non-exec employees who work closely with senior execs.
Why?
To come up with inventive biz strategies and perspectives that higher-ups often don’t see.
Here’s what shadow boards led to for the four brands I mentioned:
Shadow boards are groups of young, non-exec employees who work closely with senior execs.
Why?
To come up with inventive biz strategies and perspectives that higher-ups often don’t see.
Here’s what shadow boards led to for the four brands I mentioned:
1. Gucci - 136% rise in sales over four years.
2. Accor Hotels - Founded Joe&Joe, a hostel business, to compete with Airbnb.
3. Stora Enso - Made their supply chain significantly more efficient.
4. Group M India - Improved partnerships and strengthened company ecosystem
2. Accor Hotels - Founded Joe&Joe, a hostel business, to compete with Airbnb.
3. Stora Enso - Made their supply chain significantly more efficient.
4. Group M India - Improved partnerships and strengthened company ecosystem
So, what’s the lesson?
Experience and age don’t always lead to the best strategies.
Millennials and Gen Z have perspectives that higher-ups often don’t, and they deserve to be listened to.
Experience and age don’t always lead to the best strategies.
Millennials and Gen Z have perspectives that higher-ups often don’t, and they deserve to be listened to.
If you have a big company, consider creating a shadow board that works with your executives and gives them alternative ideas.
Even if you don’t, listen to younger people about business and everything else.
You might learn something.
Even if you don’t, listen to younger people about business and everything else.
You might learn something.
Some tips for creating a shadow board:
1. Take applications for it. You don’t want to add people who don’t want to do the work.
2. Compensate them for their extra effort.
3. Have your CEO be involved.
4. Consistently reevaluate and tweak the board for maximum effectiveness.
1. Take applications for it. You don’t want to add people who don’t want to do the work.
2. Compensate them for their extra effort.
3. Have your CEO be involved.
4. Consistently reevaluate and tweak the board for maximum effectiveness.
Most of all, keep an open mind.
Intellectual arrogance will hurt you.
Be open to outside opinions.
That’s how you level up your business and life.
Intellectual arrogance will hurt you.
Be open to outside opinions.
That’s how you level up your business and life.
That's everything.
If you enjoyed this thread:
1. Follow me @hwbhatti for more
2. RT the tweet below to spread it around
Thank you!
If you enjoyed this thread:
1. Follow me @hwbhatti for more
2. RT the tweet below to spread it around
Thank you!
Loading suggestions...