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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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Leadership is a significant aspect of management. In order to ensure organizational success, co-operation from subordinates as well as greater efficiency, it is important for a manager to be a great, effective and a true leader. An effective and true leader is one who does not put himself before others. He/She is very humble, deferential and altruistic.

The required aspects of effective leadership are as follows:

  • Motivation
  • Commitment
  • Self-sacrifice
  • Honesty
  • Determination
  • Resourcefulness
  • Daring
  • Knowledge
  • Good communication skills
  • Passion
  • Responsibility
  • Judgement

Leadership is boosting an individual’s performance to a greater benchmark, the developing of an individual’s personality crossing its standard boundaries. It is a combo of mindframes, traits, skills, and knowledge. Leadership means adhering to the following principles:

  • Respect your followers.
  • Acknowledge the followers efforts if there is success, and do not blame them for any failure.
  • Encourage participation of all in decision-making.
  • Make the goals clear to all.
  • Support the followers in accomplishing the objectives and in reaching their potential.
  • Discover efficient and economical ways of performing the task.
  • Ensure proper and effective communication with the followers. There should be no place for misunderstanding and misinterpretations.
  • Be a trainer and not an opponent/critic.

An effective leader is one who meets the job requirements, team requirements as well as individual requirements. While concentrating on the job, a leader would synchronize the departmental goals with the organizational goals.

An effective leader will ensure that the employees have the required skills and competencies for performing the job effectively and efficiently.

He/She would provide the employees the essential resources for performing the job such as time, knowledge and equipment. He/She would ensure that employees have no difficulty in performing the tasks assigned to them. And finally, an effective leader would review progress and give the employees a feedback of their performance.

When a leader is focusing on people, he must be compassionate and empathic. He/She should listen to the employees with understanding. He/She must respect their views and ideas. He/She must train and coach them and make an effort to eliminate unnecessary obstacles from the employees’ work responsibilities.

Finally, when an effective leader focuses on team, he should coordinate team’s efforts. He/She must celebrate team’s success. He/She should review and promote friendly and social environment. He/She should develop a team spirit and achievement sense among the employees as a team.

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