Successful business is reliant on effective leadership to cast vision, motivate employees and implement positive change. The leadership in a business has a direct impact on the corporate culture, organizational development and management style, produccing excellent performance, fulfilled employees and a positive image in the eyes of the public.
The role of effective leadership in business is to create a highly productive and enjoyable working environment. The leadership’s role is to define the business' vision statement, goals and standards the company will uphold. Leadership also fulfills the role of encouraging feedback and implementing change. Leadership addresses conflict and is able to make wise decisions for the company.
Three styles of governance are used in high flying businesses. The authoritative leader operates solo, making executive decisions that are communicated to lower-management and implemented throughout the company. Democratic business leadership relies on employee feedback and participation to make decisions and brainstorm.
In this style, leadership gives tasks to different groups while continuing to oversee the various tasks from above. A delegating leadership style assigns tasks to specific groups and does not participate in the decision-making process. The team is left to govern the process without the leader’s oversight.
Effective leadership possesses certain qualities such as integrity, fairness, communication skills and foresight. An effective leader is a manager with integrity who follows through on his or her word, exceeds expectations and lives out the standards he or she preaches. A good leader is fair in all situations, not showing favoritism or prejudice. A competent leader is able to communicate efficiently interpersonally and organizationally, and is able to foresee issues, successes and potential difficulty to plan accordingly.
The outcome of effective leadership in business is an excellent organizational structure, satisfied employees and a positive public image. An organizational structure is a combination of the systems and policies established in a company that inspire and guide employees to fulfill the company’s goals. Employees find greater satisfaction in their work because there is vision, direction and reward which produces purpose and fulfillment. The process creates a positive public image because external communication is well thought out, customers are taken care of and other business relationships are healthy.
Effective leadership in business is a growth process that requires continual training and development through attending seminars, reading books and joining a network accountability group. It is an on going process.