Is there a formula that can be applied to create successful leaders?
One of the common questions in today’s business press is what makes a successful business leader? Is there a magic combination of intellect, personality, education that leads to superior performance?
Successful global business leaders today need some key capabilities and attributes: Solid analytics; A global mindset; An appropriate dose of humility; Curiosity; A bit of luck.
In today’s world, the ability to analyse markets, understand trends, dig deep into customer and competitor data and develop strategies based on this data is incredibly important. It’s no longer sufficient to make decisions on gut feel alone (although an `informed gut’ is a valuable tool) nor is it in the leader’s best interests to delegate all the analytical work and understanding to others.
A global mindset is the second key element in the leader’s toolbox. Nearly every company these days will be affected by the global economy. Whether you are trying to market globally, source through a global supply chain or simply are at the whim of global financial markets, awareness and knowledge of what is going on around the world are invaluable.
Leaders also need to be able to recognise the limits of their own knowledge and experience. CEOs need to rely on others both within and outside the company to generate the information and ideas they need and challenge their decisions and strategies. So, the characteristics of successful business leaders include skills that can be taught in the classroom, attitudes that are learned in life and on-the-job, personality traits that are developed throughout life and an element of happenstance that can’t be taught, developed or predicted.
Source: The Economic Times Ascent (Mumbai)
Date: 4th November 2014