Many leaders are making the shift in their focus, skills and mindset that makes a bigger impact. If you are a leader, this article reveals some of the most profound changes that leaders must make. Multiple elements of sound leadership are changing.
No longer is it enough for leaders to simply be inspirational or ensuring that staff are treated well. While these ingredients are essential, a heightened level of leadership intelligence is also needed in order to succeed in a world where disruption and new technological developments are changing the face of operations. The most worrying part is the recent failures of some well-known brands here in the UK. In my opinion, they did not see the new trends and the rapid pace of change which disrupts entire workplaces.
I have listed 5 key changing trends which I feel leaders must take into consideration:
1. Redefining the business model with digitization:
The biggest shift is digitization. It is worth noting that big data, machine learning, apps, e-commerce as well as chatbots which act as customer service is reshaping the way business is being done. As a leader, you must understand and be fully switched on as to what is happening in your market place. You cannot afford to ‘miss the corner’ as your company can easily erode cash flows and market share. Efficiency and execution using the right tools is critical to the growth and success of your business.
2. Next in Line:
Another important area of concern regarding sustainability and growth is succession planning and strategies for the next in line to be fully groomed to take over. The usual traits which are non-negotiable (which include being a good listener, multiple success stories, having the drive and energy amongst many others) are important. But what needs attention is new ingredients in order to have a recipe of success. The next in line must be prepared and have the ability to demonstrate leadership intelligence embracing new skills and have the mental muscle to confront the new reality. They have to closely listen to their peers and must have the ability to connect the dots throughout the organisation.
3. The Bigger Picture and Meaning:
Revenues and profits are no longer the only focus points. Leaders must deepen their quest to seek the true purpose of the organisation and what makes it stand apart. Customer experience and leaving footprints of success and progression builds brand value. For you to craft and develop a movement as a leader, you further need to ensure there is enough diversity. Diversity allows you to see a different perspective which widens the lens and horizon. This in turn leads to more and better opportunities. Leadership intelligence is about deepening awareness and closing gaps. Leaders must ensure that forecasts must be as close to reality as possible.
4. Coaching and Mentoring:
Leaders cannot progress on their own. They need a good executive coach or mentor who will support him or her in their journey. This is now becoming an important element in leadership development. There are times when a coaching question uncovers varied points, strengthens the mental muscle and build the ability of using time more effectively. Good coaches are able to help identify negative factors such as narcissism and hubris. They help leaders realise that they need to be humble and confident to forge the company forward. There are many research and studies which show that coaches have supported in leveraging growth for leaders.
5. Past Successes:
In order to gain leadership Intelligence, you need to let go of past successes. The past was different and current reality depends upon a change in strategy and execution on what works now. As a leader, you need to focus on current growth factors and have a forward-looking mind-set in order to succeed. Constant learning and understanding new trends is highly essential. You as a leader need to find out the new trends, new industry specific changes in technology, innovation as well as marketing in order to step up the game in the right direction. Progress comes from having competence and the right skill sets.
In summary, you need to make certain changes to keep growing. Having emotional fortitude and the mental muscle to pick signals from diverse viewpoints and guidance from mentors should be a normal and frequent practice. The next level is all about asking the questions which will build more momentum and add more leverage. After all intelligence is about asking the right questions.
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