Scott Newton is the Managing Partner of Thinking Dimensions, and a Non-Executive Director. Scott works with Boards, CEOs, Private Equity, and senior leaders on Strategy, M&A, Value Creation, and Digital Transformation with an emphasis on embedding sustainability into their business models today and for the future. His experiences have taken him to North America, Latin America, Europe, MENA, and Asia Pacific regions assisting global organizations in major change. Scott and his teams focus on building new business model portfolios, future proofing the organization, and linking impact to sustainable growth and profitability opportunities. The organizations Scott works with achieve speed, alignment, and most importantly sustainable results.
Recently, in an exclusive interview with CXO Outlook Magazine, Scott shared his professional trajectory, insights on the most significant challenge Fortune 1000 businesses will face in the next 5 years, his favorite quote, significant career milestone, future plans, words of wisdom, and much more. The following excerpts are taken from the interview.
Hi Scott. Please tell us about your background and areas of interest.
I grew up in Western Canada and became interested in International Business early in my career. Following a role in Operations Management and TQM/Six Sigma, I went back to school and attained an MBA degree based on two continents (Europe/North America.) I transitioned my career over to Strategy starting in 2002 and ever since have been working all over the world on assisting organizations to grow, take better decisions, and create value.
Today I work on a portfolio career including Strategic Advisory, Non-Executive Director Board Roles, Executive Education and Facilitation, mentoring and investing with Scale Up companies, and M&A/Transformation.
How do you measure the success of Sustainable Value Creation initiatives, and what metrics do you use to evaluate their impact?
Sustainable Value Creation has three elements to consider:
- How are you measuring and creating long term value for all the stakeholders?
- What will the business look like in the future and why will this be a success?
- Why will investors, employees, and customers choose to work with this organization?
In terms of metrics to evaluate impact, you must look beyond just Financial KPIs, and understand how the organization(s) are improving the long term conditions of your ecosystem.
With experience working with over 250 CEOs and Senior Business Leaders, what are some common leadership traits or skills that you believe are essential for driving sustainable growth and profitability?
Leadership traits that are essential include:
- Leading by example: behaviours are consistent and modelled without exception
- Inspiring in communication: not only are leaders effective in their communication, they are both inspiring and memorable
- Ability to see the bigger picture: going beyond “where are we today” and understanding how industry shifts and the implications globally turned into concrete actions
Looking ahead, what do you see as the most significant challenges facing Fortune 1000 businesses in the next 3-5 years?
Attraction and retention of talent will be the single largest challenge the Fortune 1000 face in the next 3-5 years. A combination of shifting demographics together with changes in what future employees expect from their careers create a “perfect storm” for employers in recruiting and incentivizing top talent for the future.
Secondly, the acceleration of technology will change the competitiveness and industry positioning for organizations that today are leaders and tomorrow will be under threat. Responses to this require a rethinking of both innovation and the portfolio of business models that will best create value long term.
Demands for energy, communications, and the skills necessary to manage widescale transformation will require leaders that can master both attraction and retention of talent together with leading the ever-changing learning organization of the future.
How do you stay up-to-date with emerging trends and technologies that may impact your clients’ businesses, and how do you incorporate that knowledge into your consultancy’s offerings?
Great question! My teams and I are continuously exploring new technologies, trends, and looking to where emerging players may be creating the future. In my role as a lead mentor at Techstars for example, I have the opportunity to meet with the leading scale up founders and assist them in building and creating the industry changing platforms and offerings for tomorrow.
In my roles with executive education and teaching I am continuously exposed to new research, global thinkers, and studying the “weak signals” that indicate significant changes in industry and society when we look to the future.
What role do you believe culture plays in driving sustainable growth and profitability, and how do you help clients assess and address cultural gaps or challenges?
Culture is how work gets done and why decisions are taken and acted on in the organization. You cannot have sustainable growth without a healthy sustainable business culture.
In assessing gaps and challenges, start by considering the values of your organization which are both written and unwritten. Compare those beliefs and values to the behaviours in day-to-day business activity. Are there gaps?
Now, to fix any outstanding gaps start with the leadership team and the board, and lead by example. Tolerating toxic behaviours will lead to it spreading throughout the entire organization.
What is your favorite quote?
“You may have to fight a battle more than once to win it.” Margaret Thatcher
What is one accomplishment you’re proud of?
Recognition for three years as the “Executive Program Professor the Year” for my work on Strategy and Transformation.
What drives you? How do you measure personal success?
Impact. We all have an opportunity to assist in contributing to improving the world, and it is our impact in doing so that will determine personal success.
One piece of advice you would like to give to aspiring professionals from your industry.
Always Be Learning. The world is constantly changing and the opportunities to learn are everywhere. I encourage every professional to look for where they can learn something new, and continuously apply that learning to drive meaningful impact.