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Business leadership has become an industry, with products and services aimed at promoting skills such as time management, motivation, and long-term growth. Effective time management involves delegation, while motivating staff depends on reflecting the company’s culture. Balancing short-term and long-term goals is a major challenge.
In recent years, much has been made of the connection between strong corporate leadership and an organization’s success, as evidenced by high profile companies such as Google and Microsoft. Many other companies have tried to follow suit, turning business leadership into an industry of its own that includes everything from leadership training DVDs, books and live seminars, to tutorials and team-building retreats. What all of these business leadership products and services have in common is their intent to promote the skills and characteristics of business leaders that lead to optimizing the overall functionality of their business. Some of these skills include time management, the ability to motivate employees, and the ability to steer the business towards long-term growth.
Effective time management is one of the biggest challenges for anyone in business leadership. While hiring an assistant or purchasing an electronic organizer can provide a quick fix, solid time management strategies are essential to a business leader’s day-to-day operations. In addition to effective organization and communication practices, one of the greatest time management skills is the ability to delegate. While some business leaders may not be able to effectively delegate tasks that are outside their domain of expertise, other business leaders have the opposite problem of “micromanaging” tasks that require no expertise and can be completed by other team members. In either case, effective delegation involves eliminating tasks better performed by other employees in order to make business leadership the top priority.
The ability to motivate staff to achieve a happier, more productive work environment is a skill that is often approached from many different angles. For example, while some managers feel that a strict dress code and structured working hours are the best way to promote professionalism and productivity in their people, other managers take a more relaxed approach to dress codes and are flexible with their hours. of work. While none of these approaches are necessarily right or wrong, each probably works best when it reflects the company’s corporate culture. A booming high-tech company is likely to attract a younger population who value more flexibility in their working hours and therefore may be more motivated by flexible hours. Meanwhile, an established accounting firm can appeal to an older demographic that values health benefits more and is motivated by a company that offers a comprehensive health plan.
Perhaps the biggest challenge for business leadership is balancing short-term and long-term goals. This means juggling the company’s immediate priorities, such as crisis management and cash flow, while still pursuing the ultimate goal of growth. Depending on the company’s vision, growth can mean pursuing ventures with strategic partners, acquiring or being acquired by other companies, or expanding into new locations.
Asset Smart.
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