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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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Without an effective leadership strategy, it is believed, that the organizational strategies do not work.

Best players in a team do not guarantee success without a great coach, similarly, work teams may not function effectively if leaders do not follow an appropriate leadership strategy.

To understand leadership styles here are three scenarios:

Scenario 1 - A Teacher gives a question to the class full of students, however, solves it for them;

Scenario 2 - A Teacher gives the question to the students and observes how students solve them;

Scenario 3 - A Teacher gives a question to the students and moves around the class, observes the students, and helps wherever required.

Scenario 1 was “Leading from the Front”, Scenario 2 was “Supportive Leadership Style”, and Scenario 3 was “Interactive Leadership Style”. Besides this the leadership styles/strategies could be based on personality traits like Directive Leadership, Structured Leadership, Intuitive Leadership, or Process Driven leadership.

Here are some tips while selecting leadership strategy/style:

  • A leader must be aware of his/her personality traits and those of his team members/followers to understand which leadership style will be most effective.

  • A leader may not adopt a consistent leadership all through his/her career.

    Situational Leadership helps addressing varied needs/expectations of the followers as the leader adopts a strategy based on a situation he/she is in. In case a leader has a self-reliant team, he/she needs to be using a directive leadership style or lead form the front. He/She could instead delegate and provide inputs where necessary.

  • A common mistake especially a lot of new leaders make is to copy established/well know leaders. Remember, each situation is unique and so are the followers. A leadership style which may be suited to a well known leader may not be appropriate for your team. Make no mistake here - do not try and imitate other leaders.

  • A leader will never be afraid of trying new approach to solve a work problem or address a conflicting situation. It is quite a possibility that a leader adopts a style that is not by the book.

  • A leader must keep enhancing his/her leadership skills. While on the job experience matters a lot, getting enrolled into leadership courses after detailed evaluation of the program and feedback of the participants will help implementing a leadership style more effectively.

It is often said that good leaders are born and not made; however, good leaders are those who are aware of their personality traits and also of their followers. They know which leadership style is to be adopted in a particular situation. Once this is done, there is a little challenge left for a leader to become a “good/great” leader.

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