EP Perspective March 2017

SPECIAL FEATURE: NED
INTRODUCING
THE NED PANEL
A marriage of skills between the baby boomers and emerging businesses.
There has been so much written about the pace of change and
it is remarkable but the one truth is that everyone – however old
or young – needs to be open to learning new ideas and skills.
This is arguably the first time in history whereby the older generation
is learning new skills from the younger generation but it is also true
that the latter do need the skills of the former just as much.
The Baby Boomers led lives based on actions. Their generation
grew up in a different era but one that developed some very special
character traits. They were invariably independent and worldly at a
younger age. They networked and socialised in a different way and
they understood most of all the importance of relationships and trust.
Generation Y is more strategic and global.
The world is changing at such pace, it is easy to miss key pieces of
information and all need to be open to learning and listening to new
ideas and concepts.
PWC have published a fascinating report about the workforce
in 2022. The report goes onto to visualise the world’s first fully
automated and robot-served hotel opens in 2022. In 2021, licences
will be granted for driverless car. How the world has changed.
In a recent discussion with a group of students, they talked proudly
of the way that social media has made the world open and transparent
and there is free information at everyone’s fingertips. It is true. It has
encouraged an era of learning and information flow that is arguably
never been seen before. However, how does one explain the joy of
letters and post; the excitement of escaping to phone partners and best
friends on pay phones as invariably the money would run out? It seems
like a different age but was in truth it was less than thirty years ago.
The modern flow of information has arguably led to increased
process, analysis and transparency. Arguably what is missing is the
action-led nature of the Baby Boomers to whom strategy was often
what was discussed on the M1 motorway. The focus was on getting
things done; and less talk and analysis.
Strangely too in a world that is so easy to communicate in, the
Baby Boomers possessed great skills in networking and in the art of
conversation. They also have lived through a series of crisis from the
3 day week in the 1970s, the oil crisis, 4 recessions, Black Wednesday,
the first Iraq war, the financial crash of 2008 and many more dramas.
There is a whole bank of knowledge and experience that can be
called upon.
Most business books are based off the philosophies and experiences
of proven business leaders and expert observers. However often
business leaders are being led by the younger generation too. There
have been very few business books written by an audience of emerging
leaders but maybe that would have real value.
Beyond this the baby boomers have worked through periods of
turbulence. Their perspective and knowledge can only be of value,
which younger businesses can use for their learning.
We are therefore delighted to launch the NED panel which is
a group of some of Industry’s greatest leaders from over the past
thirty years and who can add real value to emerging businesses that
would like a proven industry player that they can call upon and work
with their boards. Nothing is more important in making decisions
than experience and understanding of market dynamics beyond the
workings of the business. This is one of the values a good NED brings
to the table – a broader, more objective perspective. A good NED
brings real hidden value that enables business to make good decisions
The Hospitality Industry possesses a deep bank of knowledge
and experience that every business can call upon. Hence the value
of the NED panel. It is a turbulent period and the NED panel allows
businesses of all sizes – whether £100k or £100m – to call upon
proven experience to help guide and support board decisions in this
period of change.
Change has become a constant and experience/knowledge is an
invaluable commodity to possess for every company.
42 | Perspective | March 2017