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 […]
The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat WhistleblowersWhat 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 […]
Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen MonksHow 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 […]
Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic StrategiesGeopolitics, 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 […]
Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional FranchisesIn 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 […]
Preparing a leadership development plan is not an easy task. The entire process involves a comprehensive effort and careful planning at every stage.
Various steps go into the development of a leadership development plan. The process starts with an initial phase of self-assessment and the data collected from self-assessments is then used for defining the vision and goals.
The next stage is the stage of the definition of SMART objectives which contribute towards the enablement of the objectives and identification of the competencies which help in the realization of these objectives.
Steps which are required to be taken after writing a leadership development plan:
The stage of implementation of a leadership plan involves the following key aspects:
For keeping the motivation levels high, apart from regular monitoring, rewarding achievements is also crucial as a leader progresses through various stages of the development plan.
Employee retention and motivation can be achieved by engaging the employees in career development programs which can also be combined with mentoring support and facilitation.
Mentors offer a structured and a transparent feedback to the mentees on their progress at work, their areas of improvement and also suggest a remedial plan of action for developing their leadership talent.
Critical operations from the stage of onboarding of an employee, implementation of employee engagement and retention initiatives, to mentoring & coaching for performance enhancement, strategizing succession planning to fill up important leadership positions, can be efficiently managed by using technology.
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