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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Who is a leader - A strong leader is one who thinks and plans ahead. He is ready with solutions and he understands the pulse of his employees. However, what are the skills which a leader must possess to be able to do his job well?

Read on to know how even YOU can be an effective leader...

  1. Master Your Time: Effective leaders will always be in a position to manage their time well. They would know how to prioritize list of activities/pending tasks. Most important - they would know the different between ’urgent’ and ’important’. Remember, not everything that is urgent is important. Also, not everything that is important is urgent.

  2. Ask Questions: Leaders will ask questions that help them assess employees’ contribution to the organization and also help employees understand how better they can contribute towards organizational goals. A Leader must ask his/her employees - the task they perform, do they feel their task is linked to the big picture, and is there anything that comes in the way of their performance.

  3. Provide Work-Life Balance: In today’s world where working hours are on a rise, an effective leader must ensure that his/her workers are able to maintain a balance between their personal and professional lives. Effective leaders should always lead by example by leaving on time, avoiding meetings during Fridays or end of the business days, not calling employees on their day off. Remember, an effective leader will have effective followers only if they are not burnt out or feel they are over worked.

  4. Manage Employee’s Professional growth: An effective leader will always chart out a personal development plan [PDP] along with his/her employee. He would identify the training the employee will need to go through keeping in mind his personal development plan. The employees will feel encouraged and valued.

  5. Let your employees speak: An effective leader has to be a good listener. Have an "open hour" with your employees and let them speak their heart out. You will be surprised to know the number of ideas they have. Always follow and believe in the mantra "Silence is Golden". Your employees will feel they are being heard and they also have a way to express their thoughts.

  6. Facilitate Brainstorming... Generate ideas: Effective leaders will always encourage people to get together in a room and brainstorm on ideas to solve a particular problem. Remember, discussions are always healthy and almost all the times they also help creating solutions which are mutually agreed upon.

  7. Create Talent Pool: Smart leaders will always be ready for any shortage in staff. They will have their talent pool ready in case of any crisis situation. They will ensure that every employee has a trained/trainable back-up.

  8. Be Courageous: As per Peter Drucker, “whenever you see a successful business, someone once made a courageous decision”. An effective leader will always be ready to take difficult/courageous decisions when required.

  9. Be Competent: The art of “tooting your own horn without blowing it” is a delicate balance of demonstrating your “expertise” and “taking credit” in a way that people notice their success. And one of the safest ways to do it is to celebrate and bring attention to team achievements.

    Praise people for good work, and when you do so, be specific on what exactly you liked. Shaking hands is a gesture that will show them that you are actually happy about their contribution and their success. And thus, you will prove out your competence as a leader.

  10. Be Visionary: What’s lying ahead in future is a topic of fascination and has mystic charm. This is a trait of absolute confidence and should be handled with care.

    It is important to make goals specific, with possible outcomes and benefits, without making promises that you may not be able to keep. A successful leader knows his goals and checks if performance and goals are in symmetry.


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