Strategic leader

Leadership: A Crucial Strategy for Success

Any successful firm uses leadership as one of its most effective strategies. To preserve positive relationships within the organization while simultaneously boosting sales, an entrepreneurial mind should be supported by leadership abilities. As a strategic leader, it would be crucial to persuade others to voluntarily reach decisions that increase the company's long-term achievement estimates while yet maintaining long-term financial stability. It is clear that the company has a number of difficulties, and only strong leadership can enable it to overcome them.

Embracing Diversity: A Necessity for Global Expansion

Cybercrime, internal and external disputes, diversity issues, a changing global economy, and rapidly evolving technologies are just a few of the challenges. For a business to become global in the contemporary business environment, or rather have an international impact, it is paramount to embrace diversity. However, the leadership will experience issues regarding diversity, especially when employees have to comprehend different languages and cultures to accommodate one another. Some employees may find it hard to understand customer preferences due to their respective cultures, which will be harmful to the company.

Internal and External Conflicts: Hindrance to Success

Another hurdle that may affect the business entails internal and external conflicts. Conflicts are a hindrance to employee productivity; hence, may lead to loss of revenues. The conflicts may involve employee-employee, management-employees, organization-customers, or organization-rivals. Regardless of the type, the effect can be detrimental to the company (Price, 2011).

Technological Advancements and Changing Economy: Continuous Adaptation

The changing technologies, as well as global economy, are prospected hurdles. Since this company hugely depends on the internet and other tools to conduct its operations, the evolving technologies will require continuous training to meet these demands. Aspects such as international economic recession will harm the company. Some of these issues are inevitable and only strong leadership skills will help in withstanding them. Even as the technologies keep changing, cybercrimes are also on the rise. Some corporations are involved in criminal practices such as stealing designs and owning them. Most of them use hackers to steal information such as designs in a means to stay competitive (Raza, 2017).

Effective Leadership Styles for Success

As illustrated by the hurdles mentioned above, leadership must be capable of counteracting the same to ensure a sustainable company. A leader in my organization will apply three key leadership styles, i.e., visionary, strategic, and democratic leaderships. The leader will have to demonstrate the vital skills of effective leadership. One of the most powerful skill is the creation of visions. In other words, a leader creates a picture of what they deem possible and then they inspire the rest to make a reality. Another skill entails risk taking, which involves trying out new things without the fear to fail. In democratic leadership, subordinates are also involved in the decision-making process. Servant leadership will be incorporated within the democratic process (Raza, 2017). In other words, democratic leadership entails placing the needs of employees and other staff first and integrating them in making crucial decisions, which are also key facets of servant leadership. Communication in this technique is effective in both upward and downward directions.

Strategic leadership, which entails feeling the gap between new possibilities and practicalities by offering a strict set of habits will also be employed in this organization. The leaders ought to be critical thinkers to ensure the company succeeds in this competitive market. Visionary leadership is another effective style that will benefit this corporation. In this type, the leader recognizes that the mechanisms, steps, and procedures of leadership are attained with and via the people (Leadership, Entrepreneurship, and Strategy, 2017). As a visionary leader, it is imperative that they transform visions into realities.

Conclusion

Overall, the corporation will face numerous hurdles, chief among them being diversity. Apart from that, aspects such as cybercrime, changing economy and technologies, as well as conflicts, will pose significant threats to the success of the corporation. Nonetheless, with effective leadership, success will be attained. The company will employ visionary, democratic, and strategic leadership styles to meet the organizational demands and ensure success.

References

Leadership, Entrepreneurship, and Strategy. (2017). Retrieved from Principles of Management: https://open.lib.umn.edu/principlesmanagement/chapter/1-4-leadership-entrepreneurship-and-strategy/

Price, R. W. (2011, June 9). What is strategic leadership for entrepreneurs? Retrieved from Global Entrepreneurship Institute: https://news.gcase.org/2011/06/09/what-is-strategic-leadership-for-entrepreneurs/

Raza, A. (2017). 12 Different Types of Leadership Styles. Retrieved from http://wisetoast.com/12-different-types-of-leadership-styles/