Corporate Management Roles: A Quick Guide to Leadership
A key to a successful business often lies in leadership. An organization with a strong leadership culture will benefit more financially as well in talent retention. But the old leadership structures are being challenged by today’s business environment.
According to Investopedia, leadership is “the ability of a company’s management to make sound decisions and inspire others to perform well”. But there is no single way the above can be achieved. Instead, there are a number of different leadership theories, which all have their pros and cons.
Leadership theories are often categorized into four major groups. These include:
- Trait theories, which look at the traits of a good leader.
- Behavioral theories, which focus on the actions of a good leader.
- Contingency theories, which examine how situations impact leadership.
- Power and influence theories, which study the source of the leader’s power.
The requirements of a good leader, however, are often universal, no matter what the leadership style might be. According to a Forbes assessment, the key qualities of a successful leader include: honesty, delegation, communication skills, confident, commitment, positivity, creativity, intuition, inspirational, and a solid approach to solving problems.
While the old strategies used to focus on hierarchical leadership models, the current mood is shifting towards a more democratized version. Theories such as servant leadership and participative leadership are becoming tried and tested in major organizations.
What Do Good Leaders Do?
Dwight D. Eisenhower has interestingly said, “Leadership is the art of getting someone else to do something you want done because he wants to do it”. But what are good leaders there to do in the modern world?
The key actions of a good leader include:
- Creating a vision for the future, whether for an organization or society.
- Motivating and inspiring people to get involved with that vision.
- Managing the delivery of the vision.
- Guiding and building a team that can effectively achieve the goal.
Furthermore, leadership of the future will have to focus on using creative and fair strategies in terms of decision-making. The leader must also show authenticity and vision, both short- and long-term. Above all, leadership of the future has to include collaborative elements –the days of autocratic leadership might be over.