How leadership contributes in a Company’s success?
To my mind, good leadership is all about immaculate planning & flawless execution with the given resources, be it people or technology. It is also about having the vision to forecast what resources will be required going forward to achieve the desired business results.
In order to achieve business goals, what is required from great leaders is the relevant knowledge and the emotional intelligence needed to deploy the most-appropriate leadership style and lead teams forward. They also need to demonstrate the courage and conviction to stand by what they think is right, as well as the ability to see meaning in the chaos and take timely and well considered decisions.
This might sound like a tall order, however, when you analyze successful organizations and the qualities of the leaders who have led them to such success, you will observe that these are indeed the most common points that come to the fore.
Good leadership has been acknowledged across the ages; the only difference is that its demands, styles, and overall relevance have changed with time. Those of us who have seen leaders in manufacturing companies, vis-à-vis the leaders today in highly technology-driven organizations, are able to understand and analyse how massive the change in leadership styles actually is. We can also point out a palpable shift from an autocratic approach to a more participative style, for the workforce now employs a vast number of millennials who cannot be dealt with through a purely authoritative approach.
Effective leadership is all about playing on the strengths of the team members & inspiring them to do brighter & better things. Leaders who are able to showcase their vision to their teams and obtain their trust are also able to deliver results for the company.
The fast pace and complexity of today’s world means that leaders need to be more purpose-driven, supportive, and flexible than ever before. Trends are constantly shifting and shaping companies’ goals. New channels for reaching and interacting with consumers are being developed daily. In this age of expansion, change is the new constant. For leaders to achieve their work goals & to consistently stay on top, they must create and maintain a leadership style that is suited to these unpredictable times.
This surely makes us think about how good leaders can be created or a leadership pipeline developed in a highly competitive business environment because, as with all great things, great leaders are also in short supply. Leadership remains the No. 1 talent issue across the world. Creating strong leadership programs for leaders at all levels is advocated, and requires sustained and substantial investment by companies. Therefore, there is no avoiding spending money when it comes to building leadership talent.
Successful companies require leaders at all levels, given the flattening out of the typical hierarchical organizational structure of yesteryears. Another factor impacting performance of companies is technology, so leaders who have upgraded themselves to embrace latest technologies and have worked at upskilling themselves are also better equipped to lead organizations to success today.
As a result of the strengthening of global recovery, this gap in leadership is experienced more acutely, as the canvas of operations for most organizations is spread across various continents. It is also a challenge to perennially provide leadership in different geographies.
Organizations which understand the value of good leaders and which realize early on that an investment in leadership is critical to long-term business success are sure to find themselves enjoying an edge in today’s competitive business landscape. Those that fail to appreciate the value of good leaders, or aren’t able to groom their in-house talent for leadership, may have to learn their lesson the hard way.
