Characteristics of Great Business leaders
Business management is becoming increasingly complex as the competition gets harder. It is no more a simple affair of calculating profits, sales and expenses and maintaining a healthy difference between expenses and revenues to generate profits. Though many factors have evolved exponentially, but one dimension that carried the most weight (and still carries) is the leadership. It is more pertinent today with the global spread of businesses. This article is dedicated to the leadership in business management. Here are some of the characteristics of great business leaders:
- Vision. Great business leaders are characterised by their ability to see what is obvious, what is trending and what the future in business investments is. Ability to clearly visualize the present and future helps in making the right decisions and driving the business in the right direction
- Timely Decision Making. A great business leader never shies from making bold and timely decisions. Taking your business in the right place at the right time can make a world of difference between failure and success. Ability of correct judgment shots may depend on the experience and it adds another dimension to timely decision making.
- Consistency. Following up with persistence is another important character trait of a great business leader. All great business leaders are never “put off” with an initial lukewarm response to a business venture that they believe in. Following up with required momentum always returns rich dividends.
- Talent recognition and promotion. A great business leader has a sharp eye for recognizing the talent and promoting it. Creating a dream team is the most pronounced capability in this genre and all great business leaders are known to hire and groom the best in their business field.
- High Goals. Settling for nothing short of the very best is another marked characteristic of great business leaders. They are always looking for the next level and raise the bar every time they make it across. High goals ensure continued development and creation of new challenges to keep the system from getting stagnant.
- Ability to accept challenges. Businesses thrive on the challenges and the ability of their leaderships to accept them fearlessly. Taking calculated risks is the part of challenge equation and great business leaders never fear from taking calculated risks.
- Courage to own the mistakes. Great leaders are brave enough to accept their mistakes and carry the courage to confess and mend them. It adds to their stature as a leader and restores confidence of their team in their leadership ability.
- They are tough (and sometimes ruthless). All great business leaders are tough task masters and never compromise on standards and performance. They sometimes venture into the realm of ruthlessness to achieve the desired results where they find their mission being compromised by the lack of will or skill of their team.
- They are human and care for humans. Great business leaders are socially aware and benevolent in their business approach. They try creating win-win situations while keeping a balance between business interest and social responsibility.