Leadership a vital part of business

LEADERSHIP A Vital Part of Business

Introduction ď Ź

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Leadership means different things to different people. And understanding what makes someone a leader can depend on their profession and their leadership style for Business.

Leadership is accomplishing things that reach beyond solitary abilities by acting and getting others to act swith a maturity that surpasses limited self-interest.

Importance of Leadership ď Ź

Leadership is an important factor for making an organisation successful.Leadership is an important function of management which helps to maximize efficiency and to achieve organizational goals.

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The following points justify the importance of leadership in a concern.

Initiates Action Motivation Providing Guidance Creating Confidence Building Morale Builds Work Environment Co-Ordination

Initiates Action: ď Ź Leader is a person who starts the work by communicating the policies and plans to the subordinates from where the work actually starts.

Motivation: ď Ź A leader proves to be playing an incentive role in the concern’s working. He motivates the employees with economic and non-economic rewards and thereby gets the work from the subordinates.

Providing Guidance: ď Ź A leader has to not only supervise but also play a guiding role for the subordinates.the way they have to perform their work effectively and efficiently.

Creating Confidence: ď Ź Confidence is an important factor which can be achieved through expressing the work efforts to the subordinates,It is also important to hear the employees with regards to their complaints and problems.

Building Morale: ď Ź Morale as leader denotes willing co-operation of the employees towards their work and getting them into confidence and winning their trust.

Builds Work Environment: ď Ź Management is getting things done from people. An efficient work environment helps in sound and stable growth. Therefore, human relations should be kept into mind by a leader.

Co-Ordination: ď Ź Co-ordination can be achieved through reconciling personal interests with organizational goals.

Benefits of Good Leadership In Business ď Ź

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Leadership is the most influential and critical element of all businesses. Effective leaders have the necessary tools and skills to inspire and impact their teams allowing firms to run competently and smoothly.

As a good leader, you should understand the mission statements, objectives, actions plans and goals of the company to be able to lead your workforce into realizing them.

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Improved Productivity in Businesses: Improved ability to succeed under pressure.

Increased emotional intelligence.

Improved charisma and seriousness in business operations.

Growth in confidence in your team.

Improved listening and communication skills.

Increased awareness of diversity in the workforce.

Improved innovation and creativeness.

Dependable, reliable and competent workforce.

What Are the Advantages & Disadvantages in Leadership in Business? ď Ź

Businesses often start out as sole proprietorships where a single entrepreneur controls all aspects of a business. While it can be difficult to run a solo operation.

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It also keeps things simple: the owner does not have to worry about leading or managing employees. As businesses grow, owners may eventually hire workers to assist with increasing workloads.

Leadership presents several potential advantages and disadvantages to entrepreneurs and their business.

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