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Five Qualities of a Successful Business Leader

Famous business leaders in India and worldwide have long transcended the title of boss or manager; they have gone a step ahead to create an environment that collectively achieves success. The Great business leaders of India are the intellect and power behind their companies, which makes them successful. They are visionaries who align and involve people in the end goal and empower them to succeed. These successful corporate leaders possess qualities that allow them to think tactically, create future leaders, seize opportunities, steer their brand around pitfalls and work in cohesion and compatibility with their teams to achieve a unanimous goal. Here are a few qualities that deem the best businessmen successful:

  • Empowering employees to take charge and perform to their fullest:

Empowering employees is a distinct trait of a successful business leader. They create an environment conducive for employees to think and act like leaders. This means giving them the resources and autonomy to take charge of their verticals. This encompasses everything from delegating responsibility and involving them in decision-making to making them accountable for their actions and asking for feedback and suggestions. Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, is one such leader who empowers his employees by reinventing his business every three to five years. Not only does he unleash the power of technology to help employees perform better, but he also allows them to run their teams using their discretion on their own terms. They have created small teams called COEs (Centers of Excellence), where projects are spearheaded by employees. They act in the manner of a business owner who is responsible for the P&L of that vertical. 

  • Strategic and tactical thinking:

The best business leaders in India and the world almost always adopt a strategic and tactical approach to deal with situations. They are face with scenarios that require them to think on their feet and get what needs to be done actually done. Tim Cook, CEO of Apple, is a classic example of an industry thought leader who makes impeccable decisions on complex matters because he has the aptitude for thinking tactically and strategically. Fortunately, Apple relies on this quality of Cook, which positions the company, year after year, as a pioneer. The COVID-19 pandemic was one precise instance where the Apple CEO established strategic and tactical thinking by seamlessly navigating Apple through the pandemic. He decided to partner with Google on the COVID-19 contact tracing initiative. This increased the number of people using Apple products to help deal with the COVID-19 pandemic. 

  • Being realistic, practical, and possessing superlative qualities:

Superlative leaders are stable and enduring. They focus on functioning over a long period rather than going for the ‘crash and burn approach. Such leaders are successful because they don’t go with the flow or jump onto a bandwagon, popular as that might be. Instead, they are more about making realistic plans. Corporate leaders who possess such superlative qualities can be influential during good and adverse times. Superlative leaders don’t rely on guesswork; they make well-thought-out practical plans rooted in facts. They weigh all the options, external factors, and other influencing factors before acting on anything. This practicality and rationality in their decision-making is the reason for their success.  

  • Being able to manage yourself before managing others:

Self-management is ubiquitous to all the famous business leaders in India and globally – they are experts at effectively managing themselves. A self-managing leader leads to successful leadership as one can prioritize their goals and take responsibility for accomplishing those objectives. This includes time regulation, attention, and controlling emotions, all while being aware of the strengths, weaknesses, and possible sources of bias. Once you can manage your stress and balance your professional and personal life, only then can you move on to managing others and showing compassion to them. 

  • Effective communication:

Being a good orator and getting your point across is key to becoming a great business leader in India. Without effective communication, all the other facets of successful leadership are in vain. If you cannot understand your people and vice-versa, the goals, dreams, and business will cease to exist. Successful corporate leaders know when to listen and talk. They communicate everything from achievements and failures to goals, tasks, and plans. There needs to be a steady flow of ideas and an open channel of communication to let the creative juices.How you communicate matters; a prime example of good communication is Mr. Anand Mahindra, Chairman of the Mahindra Group.He has successfully led the Mahindra empire and diversified it into aerospace, agribusiness, defense energy, finance and insurance, industrial equipment.

Successful leaders are not born with these qualities, but experience cultivates these qualities in them over time. To be a successful leader, you must work on building a professional character that imbibes these values.

 

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