Formal leadership development today means boosting understanding of global issues, adopting deeper listening skills, and creating multifunctional expertise, according to Fritzi Woods, president and CEO of the Women's Foodservice Forum and an advisor to Northwestern University's Center for Executive Women.
"The day is gone when we can all be siloed or just have functional expertise," she says. "We have to have that and … at least a basic understanding of the fundamentals of multiple functions," such as supply-chain management, strategy creation, social media, and human resources, "because things are so matrixed now."
Business schools, including Northwestern's Kellogg School of Management, also are teaching students how to ask questions that drill to core issues. "They don't have to know the answer, but they have to be able to triangulate enough information and data that come to them to ask the right questions and apply that to the business," says Woods. Here, she responds to other queries: