38 | Developing Leaders Issue 36: 2020 Leadership A ZUREY Inc.* is on the brink of collapse. During the COVID-19 pandemic, sales have rapidly declined since consumers were spending less on luxury goods and the forecasts say that the luxury industry will take time to recover from this decline. Jim, the CEO, is working hard to keep the company afloat, putting pressure on everyone to cut costs and raise sales in any way possible. The AZUREY leadership team has done a lot to deliver results for the short-term, and now they want to focus on how to create longer-term value. They are ready to think expansively. According to Harvard Business Review, 52 percent of Fortune 500 companies have either gone bankrupt, been acquired, or ceased to exist as a result of digital disruption since 2000. Leaders of large multi-national organizations like AZUREY are scrambling to figure out ways to keep their teams dynamic, innovative, and agile, ready to handle any scenario that comes their way (even a global pandemic!). Board Members and C-Suite executives are considering how to make sure their reign at the top is maintained without being ousted by a digital disruptor and how to stay alive for the next generation. Leaders recognize that – after the ‘usual work’ of protecting revenues and slashing costs is done – only highly innovative teams can bring their company success in our fast-paced times. * A fictious company made from compilations of experiences with other multi-national corporations. Why Your TeamNeeds Expansive Thinking And how you as a leader can cultivate it By Lisa Christen & Rolf Pfeiffer