Business is about challenges, it's about changing market scenarios and an important component of business leadership is to be able to adapt to these changes. This quality is displayed by those who are able to resolve the challenges by thinking out of the box. Effective leadership contains flexibility and innovation. Effective leaders are always aware of the business environment and hence, are able to take the right decision that helps them overcome difficult situations while maintaining profits.
Quick Decision-making Ability
One has to make maximum of the opportunity that one gets in business. Some challenges may actually be an opportunity in disguise. The only thing that stands in between the challenge and success is to take the right decision at the right time. Decisiveness is a key corporate leadership skill. Good opportunities may be lost in the absence of quick decisions and this can be achieved under the guidance of a leader who is well informed and has sound judgment.
Taking Ownership and Responsibility
True, a leader is one who every member of the team looks up to. Does that mean that he is always expected to deliver? Well, theoretically that is what he is supposed to do although we know that showing sound judgment every time is not possible. You do lead by example and this example is not just about success. It is also about showing readiness to take responsibility for one's decisions. Not only does this earn a leader the respect of his team members, but it also builds their trust in him. They know that their team leader would be there for them always and this faith in team leadership ensures better output.
Communication skills for a leader does not mean that he has to be a great orator. Communication abilities as a business leadership skill means laying in clear terms what is expected of each member of the team. Every member is crucial for a team. It is important to let every member know what value his contribution has in the whole picture. Other than just explaining one's role, it is the leader's responsibility to communicate success to his team members. Even while providing criticism, a leader should remember that it has to be constructive. Be it praise or criticism, being precise in one's words reflects the fact that a leader is confident and means business.
Know Your People
This aspect has two dimensions. The first is about knowing the skills of every team member. The other is about familiarizing oneself with the temperament of each team player. Business is all about teamwork and leading a team of people coming from different backgrounds with different attributes is one of the most difficult leadership challenges. Knowing each one's skill would help a leader to give responsibility of a job to the person most suitable for it. A knowledge about one's temperament helps leaders to avoid and be prepared for behavioral problems that may crop within the organization. It also helps to inquire about the employee's personal and family life. This does not mean that a leader has to become buddies with his employees. However, an occasional question about an employee's family would definitely earn a boss his employee's loyalty and trust.
These were just a few of the key leadership qualities in business. Besides these other qualities of a successful leader are:
- Being organized
- Proper delegation of work
- Learning from one's mistakes
- Be open for suggestion
- Having time management skills