Business Leadership
Many business professionals, over the years, have speculated on what it takes to become a leader during the current economic downturn. What is it like to be a leader? Does it mean that you are able to grow your company and not stop trying to make money? Without profits, a company cannot exist. We’ve seen some leaders sacrifice the greater good of the society for maximum profits. To many people, the term leader could mean many different things. This paper examines Brandon Long Marketing Consultant Leadership and explains what it is.
To understand the traits and characteristics of today’s business leaders and successful entrepreneurs, it is important to first identify these traits. The pace of change in business has increased with globalization. Businesses everywhere are now experiencing rapid and unpredictable changes. Many companies now look to their leaders to steer them through these challenging waters. All companies place a greater emphasis on business leadership at every level of their company.
Many managers of the past were promoted by large economic growth. However, they may not have expected to change the status quo. Many business leaders and managers must think outside of their comfort zones to provide growth for their shareholders and superiors. Visionaries are what we are seeing among the new generation of business leaders. They seek to understand how business is changing, and then adapt strategies before their markets are affected. Large institutions went bankrupt due to recent mortgage scandals and burst housing bubble. Many companies are now seeking business leaders who will keep the profits coming and build an ethical and moral foundation for their companies.
Following extensive research, here are some top characteristics or traits found in business leaders today. Great leaders need to be able maintain their heads and cope with stress and frustration. Today’s business leader must be able and able to maintain their calm under stress. A business leader who is successful has emotional stability, also known to be called locus de control.
The second trait is self-esteem. Being a business leader means that you have to be constantly analyzed and make fast decisions. A leader must know how to guide the business and feel confident in their decisions. This can in turn inspire others in an organization to work towards the same goal.
Many business leaders today are known to have the drive or need for success. Leaders who settle for average results are less likely to be driven to achieve greater success. Sometimes productivity and profits may suffer. A true business leader is always driven or motivated to achieve. They are always seeking out the next challenge, and they find creative ways to overcome obstacles.
Today’s business leaders also have the ability to quickly and efficiently filter information. Business acumen is another term to describe it. Ted Prince notes, “Before The Great Recession, leadership was essentially a boom time phenomenon. It could focus on traditional leadership competencies, such as interpersonal skills. It is possible to see leadership development as a secondary subject in the study and practice of leadership.
Today, things are very different. Business acumen focuses on showing how our actions have a direct impact on and increase business outcomes. Business acumen development fills the gap left by traditional leadership development programs. It focuses on the behavioral skills that result in increased profitability and greater market value. “Business acumen is the ability to bring about positive results for business” (Prince).
Any leader who is successful in business will have a strong streak of optimism. A leader sees problems as a challenge. They also view setbacks and obstacles as opportunities to improve. They never lose sight of the main goal and are determined to reach it. If they don’t sell that day, they will continue to believe they will. This optimism can be a motivating factor in helping them achieve their ultimate goals.
Tolerance towards ambiguity means a person’s tolerance for uncertainty and risk. Leaders of business face this daily and need to have this trait in order to be successful today. Art Petty writes on his blog that “top performers battle the routine.” High performers in all areas of life, athletes to leaders, and great contributors to the community work hard to resist the temptation to stay in the same rut. High performance organizations and teams find comfort not with routine and consistency but in the ambiguity of life and the constant need to adapt. Some of the greatest leaders push their teams and themselves to be innovative to keep their thoughts fresh, sharpen their senses, and expand their collective and individual mind.” (Petty).
In business leadership, courage is a key trait. Leadership and entrepreneurship require a high tolerance of risk. Most businesses fail because they are starting from scratch. True business leaders know how to manage risk and continue even when times are tough.
These are the traits that seem to be most prominent in today’s true business leaders. The traits of high energy, intelligence, maturity and team orientation are also highly desirable but not always found in business leaders. Empathy, charisma, empathy, empathy, and charisma are some other desirable traits. Let’s look at these traits more closely to discover how leaders can benefit from them.
A business leader must be able to work long hours in order to realize his vision. Leaders who are energetic can remain focused and alert, regardless of the difficulties faced by their business. A business leader should also possess intuitiveness. This trait could also be called business acumen. Many scholars agree that leaders must have a deep understanding of themselves. If a leader is aware and comfortable with their weaknesses, they can make adjustments to fit the current circumstances.
Leadership must be humble to be effective. Leaders should be able to recognize the fact that they might make mistakes and may not know everything. Though logic and reasoning can be helpful in many situations, the human spirit will often prevail over logic. Leaders of business today have maturity and are adept at creating a team orientation strategy. The leader recognizes that his best employee is his worst. A positive work environment among employees is more important than achieving success and accolades. Recognize that empowerment is better than trying and control others, or having a didactic approach to management.
The charisma and empathy are two other qualities that are frequently found in highly successful business leaders. Being able and able relate to people at all levels can allow you to see the world in many different ways. When you’re able to empathize with employees and customers, you can start building trust. Trust is the key to getting the best from customers and employees.