What is Leadership and does it matter?
What is Leadership? 5
Leadership and Management 6
Are leaders born or made? 7
Human Capital 7
Challenges and difficulties are an unfortunate yet inevitable part of business life and can be caused by internal or external forces. The current downturn while crippling many organisations is also presenting new opportunities. The current recession should be viewed by leaders as a call to action. This is a time of transformation, ‘the best way to predict the future is to create it.’(Druker). A new economic order will eventually emerge and leaders need to focus on strategic initiatives that will drive future growth beyond the current downturn. Operational efficiency is now a matter of corporate life or death and leaders have to be innovative and make hard decisions quickly in the absence of perfect data.
How leaders react to this call will impact on the long term survival of the organisation. Business leaders, now more than ever, need to give direction to every part of the organisation from the board room to the shop floor. However, leaders must also accept that approaches that once were appropriate may not be as effective as they previously were.
The scandals of WorldCom, Enron and our own banking crisis highlight the need to balance profitability and responsibility. Sound business ethics are just as important as strategy, profit and capability. We should remember the words of Henry Ford ‘a business that makes nothing but money is a poor business’.
Many years ago, leaders used to be selected for their power and authority. Leaders today are the mentors rather than masters of their organisations. Great companies evolve and so do great leaders. They are constantly looking for ways to create better organisations and to motivate their employees to contribute to the organisation’s strategic goals....