Business Challenges

Business Challenges and Leadership Development By Milemm Madinah

Economic activities were not that complex and intricate as they are now, in the modern age of information technology and globalization. Challenges are growing. Competition is high. Since the present-day world is a free world, the days of imperialism are bygone, it is not possible for companies in trade and commerce to force their subjects: people of conquered lands, to buy the stuff from their masters by hook or by crook, you have no hope to force out your economic rivals by defeating them in the battle field, so, the companies in the era of free

GetRuralLeaderMag.com | NOVEMBER 2016 11 economy have to seek new and attractive ways to catch the attention of their potential customers and to defeat their rivals. That company wins the competitions which, in addition to hard work, think out innovative ways and techniques to sell its products and services more than the others.

The executives of the business companies are facing great deal of challenges in leading their companies through the great competition. He must possess the great qualities of leadership and management to come successful.

An executive is a leader of the business company. He is the brain, and the managers, offices and workers under him are his limbs whom he has to use to achieve his targets. To be well aware of the abilities and capabilities of the working hierarchy: managers, officers, workers, working under him, are the prerequisite of a good leadership and management quality. An executive must hold finer administrative skills for the better management of the company or the organization he is working for. An executive should have a direct relation with his working hierarchy under him at every level,

so that he may be alert of their needs, demands and problems and be able to solve them in time.

An executive must be a visionary. He should envision targets to his working partners and make them their targets. Incentives for working should be material but he should make it in such an affectionate fashion that the workers feel like to do the job even if the material incentive are not in hand.

An executive must be bold and have courage to take risk for the benefits of his company. Endurance to stand and solve odds is the quality immensely needed for the leadership and management.

Today is the age of information technology the power of print and electronic media and Internet holds sway. People’s needs, demands, fashion, so much so, their behavior can be modified by the influence of media.

An executive must be fully aware of the power of media. He must know how to use it to get to its set targets. Leadership development is a great job. It is another great quality of a leader that he develops the required skills of leadership and management in others so that they can succeed him when needed. Sensing the great demand of executives in the market many institutions, schools, colleges, universities, websites on internet have taken up the job of teaching and training of leadership development.

Executive education has become a part of education of economics, finance, commerce and management. A good leader needs to do a lot outside of the premises of his or her alma mater.

Experience is the greatest teacher. In internship one must learn what one cannot learn in the classroom. One should spend a good enough time assisting some executive. Another way of leadership development is to read biographies of the successful persons of the world. For the same purpose seminar are held, too.

Future leaders must participate in them to learn from the living leaders of their fields the ways to become successful leaders. Now such seminars are available on Internet as well.

Some websites invites renowned and eminent personalities of their respective fields as speakers to share their thought and experiences to interested individuals to make them future leaders. This is a very effective way of transmitting practical knowledge of leadership development to those who want to come into the shoes of the successful business leaders. The Madinah Institute of Leadership and Entrepreneurship (MILE) brings senior executives and high potential leaders from all over the world for executive education to discover new dimensions in Leadership Development, Good Governance, Telecom Training, HR Performance at http://www.mile. org—