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The Importance of Business Leadership

Updated August 22, 2022
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The Importance of Business Leadership essay

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The globalization has converted the world into a small global village in which there is an ever high stream of contentions and competitions between organizations and survival for the fittest. In this scenario the most effective and beneficial maneuver for any organization is to create innovative ways in conducting business calls for leadership, an important function of management which helps to maximize efficiency and to achieve organizational goals. Rapid technological advancements, high expectations of customers, and ever changing market situations have compelled organizations to understand, adopt and implement changes in their business model in response of changing trends. For most organizations, people costs account for well more than half of their overall expense structure.

For many they are 90% of total costs (1). Leadership is the ability of a manager to induce the subordinate team members to work with confidence and zeal and realizing the most spent on them. Leadership can be described as a process by which an executive directs, guides and influence the behavior and work of others towards accomplishment of specific goals in a given situation. Importance of leadership arises from three challenges namely external situation, coming from people and situations, internal and those arising from the nature of the leadership role.

It requires a few qualities to be present in a person which includes intelligence, maturity and personality. Leadership is situation bound. There is no best style of leadership. It all depends upon tackling with the situations. However, their companies are getting less than half of what they could really give in return.

The good leadership helps in getting more return by structuring the role of team members to take advantage of the wide range of talents they possess. A true leader is aware of capabilities of individual team member helping him to delegate many of the assignments. He helps in creating flexible culture to accommodate individual differences in capabilities and interests. The “Leaders are individuals who establish direction for a working group of individuals and who gain commitment from this group of members to established direction and who then motivate members to achieve the direction’s outcomes” (Conger, 1992, p18).

Organizational leadership neither about a magic that one person have and other don’t have nor about the ordered by boss, his observation that how much these ordered are obeyed. The leadership of an organization is ability of leader to get and protect the company benefits by realizing employees need and company targets and bringing them together to work in a better environment to achieve the common goals (Sansom 1998). Leadership has a central role in evolution and cultivating an organization. It can help the member of an organization and working teams to face the challenges and to work for organizational goal in a worthy way. An organizational leadership can be described as a person who can promote change in an organization by its vision and strategy (Dunphy and Stace 1994 in Senior and Fleming 2006).

The strategic leadership is eagerly needed for organizations, which is well capable to predict the essential alterations and changes, in advance and create required commitment and highly suitable atmosphere for worker and teams to understand and adopt these changes successfully. This action by leaders is decisive not only for the effectiveness of the organization but also for its very survival (Bass, 1990; Burke & Cooper, 2004). As the business goals can’t be achieved without adopting any strategic business process, likewise the organizational success and sustainability also can’t be accomplished without a strategic role of leaders. From allocation of resources to alignment, from perception of thing to decide future focusing, form commitment and motivating the teams to get the goals of an organization, to confirm the sustainable growth, it’s a leadership whose footprints are everywhere (McGuire, 2003).

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