London College of Fashion

London College of Fashion.

Panel discusses the uncertainty of 21st century business management.

How do you manage leadership and talent management in the midst of an industry revolution?

CMI, in conjunction with the Fashion Business School, London College of Fashion, University of the Arts London, held a thought-provoking panel discussion at CMI’s Holborn office with the goal of navigating the uncertain waters of 21st-century business management as it enters a global shift towards nationalism and trade barriers. EMBA students were given the opportunity to gain insight and network with industry-leading panellists including; Designer Christopher Raeburn, Business Mentor Sharon O’Connor of Sharon O’Connor Limited and Business Coach Marie Milligan of Wild Women Do.

CMI research has uncovered that UK productivity is 21% lower than the rest of the G7 and measures of management are similarly lower than those of many rivals. Time wasted by poor management could be costing the economy as much as £19bn a year.

In addition, Government data shows that the UK labour market will need one million new managers by 2020 – yet 71% of the leaders surveyed by CMI confessed they could do better at training first-time managers, or don’t train them at all. This could leave 150,000 employees a year taking on management roles without adequate preparation. Millennials will make up 75% of the workforce by 2025.

In response to these concerning statistics, an engaging discussion followed to discuss potential solutions observed by Sharon O’Connor such as encouraging diversity within recruitment processes, and not necessarily hiring the most obvious candidate or applicant.

Christopher Raeburn noted from experience that good management will work across multiple different platforms, but stressed the value of traditional methods in building team cohesiveness, interaction and collaboration within a team.

Marie Milligan, Founder of Wild Women Do – a coaching resource and movement aimed at empowering creative entrepreneurial women, discussed the importance of hiring and nurturing talent and the importance of ensuring that rising stars get the management training required to be effective in senior roles.

CMI’s Director of Member Engagement Simon Bowen recalled his experience in dealing with management and problem solving, and explained that while leadership traits can be an individual attribute, others may need investment in this area to assist them in meeting their objectives. He explained that this training was particularly critical, given the revolutionary change within the Fashion industry.

Students enjoyed a networking session following the panel discussion, giving them the opportunity to further discuss the topic with the panellists as well as share their ideas and concepts of good leadership and management.

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