Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
February 7, 2025
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 […]
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 […]
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 […]
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 […]
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 […]
Leaders are responsible for creating and realizing the vision by encouraging the followers to work towards the fulfilment of a common goal. Effective leaders should be able to have a perfect assessment of their strengths/weaknesses and deal with it efficiently. By adopting remedial measures, they should reinforce their areas of strengths and overcome their deficiencies.
Leaders who are self aware are able to monitor their progress and areas of improvement both professionally and personally. They can chart a futuristic plan of action and identify the areas of development which will determine their future growth prospects and help them in achieving success in their professional endeavours.
Successful leaders should have exceptional emotional as well as personal qualities like diplomacy, leading by examples and maintain an empathetic approach. Inspirational leaders stress a lot on honing their interpersonal and emotional competencies for gaining acceptance as leaders.
This is another critical technique by way of which leaders can assess their areas of strengths and improvements. It can be used periodically to determine how you have evolved and honed your leadership qualities over a period.
Checklists & surveys help in improving self awareness related with emotional competencies, relationship skills and a lot of other areas like your level of enthusiasm, involvement and clarity of direction.
Steps involved in using checklists & surveys given below:
This technique offers a comprehensive view regarding how you are perceived as a leader by others and improves understanding about one’s strengths and weaknesses as a leader. For conducting 360-degree feedback, the following steps should be followed:
A leader designs his/her own 360-degree feedback survey formats. Some common leadership competencies that should include in the 360-degree survey are:
360-degree feedback surveys can be tailored and be developed suiting to the requirements of the organization.
In the end, we can conclude that self-awareness helps in changing and bringing about reforms in an individual’s behaviour. Self-assessment helps in improving self-awareness and in developing competent as well as promising leaders.
Various techniques of self-assessment provide vital feedback and inputs on the key strengths and qualities of a leader. Besides this, it acts as a guiding roadmap in determining the future strategies and areas of development of a leader with a vision.
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