Boeing’s 737 Max issues highlighted the company’s sacrifice of safety for financial performance, resulting in a tarnished reputation. The prioritization of profit over core values also damaged the FAA’s credibility and revealed a lack of accountability for top executives. This downfall serves as a reminder of the importance of maintaining core values and prioritizing them over short-term financial gains.
5 Strategic Leadership Skills Every Manager Needs
So often, people view leadership as a talent: you’re either born with this quality or you’re not. However, this is not always the case! In reality, good leadership is made up of skills, and anyone can learn how to improve. Some people may pick up leadership attributes quicker than others, but you don’t have to worry if you are struggling to find the right leadership style or skills, as they can be learned. Consider leadership coaching in Atlanta if you’re in the area so you can learn and develop the skills you need to thrive.
Strategic leadership is a particularly effective leadership style known to be highly effective in businesses. If you are running a business, learning and practicing this kind of leadership will lead to more success for your team and the company as a whole. In this article, we’ll cover the definition of strategic leadership and the basic skills needed to practice it so that you can run your business effectively.
What Is Strategic Leadership?
There are a few different types of leadership styles out there, such as democratic, autocratic, and servant. These styles tend to dip the scale when it comes to big-picture leadership versus day-to-day objectives.
Strategic leadership is all about successfully balancing the company vision, valuing the team, and making clear decisions. This type of leadership is all about a leader’s ability to present and manage the company’s overall vision successfully so that it inspires other team members to initiate and carry out day-to-day responsibilities supporting that goal.
This leadership style should present open and transparent decisions concerning company objectives, as well as incite all employees to play a part in daily goals supporting the long-term success of the business.
Have a Clear, Actionable Vision
To be a good leader and run a successful business, you must have a clear vision for your company’s future. To enact this vision, however, you should work on strategizing and organization skills. That’s because in order to execute your vision, you will need to create actionable steps to get there. Having KPIs to track your company’s vision and growth helps you understand the right direction to take. If you’re having trouble developing your wealth management strategies, consider working with a business coach in Atlanta to help you overcome any challenges you may be facing.
Break Down Your Objectives
A big-picture goal can seem out of reach to employees whose jobs revolve around completing daily goals. Though wealth management strategies are important to leadership members, it is not relevant to everyone within the organization.
To make your vision relevant and attainable, try to break down your company vision objectives into small steps. This way, all team members can see clearly what their work is doing to support the company vision, and another plus is more clarity around expected tasks.
Encourage Collaboration Leadership
Putting together a stellar team that supports, trusts, and communicates with each other is important. Effective leadership should encourage collaboration and initiative at every level of the organization. By doing this, you receive valuable feedback and information for minor improvements that could prove to be important to the running of the business long-term.
Encouraging collaboration will also lead to more employee engagement with the success of the company. Try to implement an open communication policy within your organization, and be sure to celebrate achievements and appropriate employee initiatives. If you’re looking for leadership coaching in Atlanta, you can receive help putting systems and strategies in place that will streamline communication issues. It’s always helpful to review some leadership practices with an expert before you implement them yourself in your business.
Plan for All Scenarios
Business leaders can not predict the future all the time, though they should prepare and explore situations and decisions thoroughly. Leaders should be intuitive and practice anticipating positive opportunities and negative outcomes alike. By looking out for changes and trends in the business’s orbit, a leader will lead the company to growth rather than a crisis. To start practicing this skill, do research on competitors and the market, conduct regular team brainstorming meetings, and prepare for the unexpected with strategic plans in place.
Be in a State of Constant Improvement
Just like you should plan for all unanticipated external scenarios, you should always be looking for ways to improve your business. Avoid the pitfall of complacency and challenge yourself and your team to think outside of the box. This mindset will enable you to keep an open mind as you solve problems and adapt to an ever-changing world.
It’s important to surround yourself with team members who will present opposing views to your own. Even more important is to listen and explore these differing views to get a better understanding of a particular issue or idea. Practice this skill in your business by running meetings where people feel comfortable sharing ideas and holding respectful debates.
Stick to Your Decisions
Your role as a leader is to make informed decisions. All team members may not agree with you and have different opinions on the subject, but it is your responsibility to make decisions openly and transparently. Confidence and clarity are key here, as team members need to understand your decision-making process and respect the outcome.
To gain executive decision-making skills, try to implement a process where you inspect multiple sources of information and opinions and take into account the business’s long and short-term goals. When you run a business, sometimes you will have to make tough decisions.
However, once you start practicing this skill, the quicker and stronger your calls will be. A strategic leadership style could be what your business needs to grow in your community and succeed. Try out leadership coaching in Atlanta to work on any of the skills mentioned in this article. The benefits of strategic leadership strive to create balance within an organization, so this management style should work for most businesses. Get in touch with a business coach from Atlanta for more information. We’re here to help.
