The qualities that define good leadership are shifting. No longer are leaders judged solely on their ability to implement a vision; the modern executive is a constant learner, driven by an innate sense of curiosity. As markets change and new technologies emerge, curiosity — the drive to ask questions and seek out new perspectives — is proving to be a pivotal trait for innovation and sound decision-making.

The Economic Mandate for Curious Leadership

The digital revolution, globalisation, and unprecedented global challenges (like complex supply chains and inflation bought on by the events of the war in Ukraine) have reshaped economies and business strategies.  A report from McKinsey & Company suggests China’s slowing economic activity is the second most-cited risk to the global economy, with 52 percent of Asia-Pacific respondents saying it’s a concern.

Furthermore, the very nature of work itself has changed irrevocably. McKinsey & Company’s State of Organizations Survey suggests that more than half of respondents believe remote work will become more common (leaders, managers, and employees are still grappling with the effects of this broad behavioural upheaval. Organisations have been forced to reexamine foundational norms: Where do employees work? When do employees work? How do employees work? 

Indeed, according to McKinsey, surveyed leaders across Asia-Pacific view their economic outlook as less positive than it was 6 months ago suggesting further challenges as we move into 2024. But what has this got to do with curiosity?

According to a recent Harvard Business Review article, companies led by curious leaders are 30% more likely to encourage risk-taking in the pursuit of innovation. Moreover, these companies were found to have a 10% higher growth rate compared to their less-curious counterparts. Can curiosity really provide a competitive edge?

Why Curiosity?

But why does curiosity matter so much? At its core, curiosity is about wanting to know more. It’s about confronting what you don't know, and not just relying on what you do. In leadership, this translates to a few key benefits:

• Enhanced Decision-making: By seeking diverse perspectives, curious leaders reduce their blind spots. They're less likely to be caught off-guard by shifts in the market or changes in customer behaviour.
• Stimulating Innovation: Curious leaders are always on the lookout for the next big thing. Their natural inclination to explore often leads to unique and groundbreaking solutions.
• Building Better Teams: Leaders with a curious mindset value diversity and understand that different experiences and perspectives lead to richer discussions and more comprehensive solutions.

Spotting Curiosity in Leadership Candidates

So, given the importance of curiosity, how can boards and hiring managers identify this trait in potential candidates? Here are a few strategies:

• Behavioural Interviewing: Instead of asking candidates to simply list their accomplishments, ask them to narrate a situation where they had to learn something new to solve a challenge. Their approach to unfamiliar territory can be quite revealing.
• Recommendations and References: Often, colleagues and direct reports can offer insights into a leader's inquisitiveness. Does the candidate foster an environment where questions are encouraged?
• Continuous Learning Indicators: A history of pursuing additional courses, certifications, or self-initiated projects can be indicative of a curious mind.

Cultivating Curiosity

If you're a leader looking to enhance your curiosity quotient, here's some good news: curiosity can be cultivated. Here's how:

• Adopt a Growth Mindset: Coined by Carol Dweck, a psychologist at Stanford University, a growth mindset champions the belief that abilities and intelligence can be developed. Embrace challenges, persist in the face of setbacks, and understand that effort is the path to mastery.
• Diversify Your Inputs: Read books, attend seminars, or listen to podcasts outside of your domain. Cross-pollinating ideas from various fields can offer fresh perspectives.
• Encourage Questions: Cultivate an environment where team members feel comfortable challenging the status quo. The next big idea could come from an unexpected place.
• Engage in Reflective Practices: Allocate time for introspection. Journaling, meditation, or simply taking a walk can offer the mental space required to connect disparate ideas.

The FMCG business landscape is one of volatility, uncertainty, complexity, and ambiguity. In such an environment, curiosity isn't just an asset; it's a necessity. The willingness to question, to probe, and to seek new horizons is what will differentiate the next generation of visionary leaders.

By valuing curiosity — both in themselves and in their teams — leaders are not only fostering a culture of innovation but are also ensuring that their organisations remain resilient and agile in the face of ever-changing economic winds. The leading FMCG brands are in the hands of those who stay curious, and lead with questions.