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Why leadership is crucial to business success

There’s so much talk about leadership in business. Companies invest heavily in their leaders and there’s no surprise why. One poor leader can ruin a business. Decisions made by some of these leaders last year sent ripples throughout the world and wiped many zeroes off the share price indexes for these companies.

Business leaders are relied upon to seamlessly tie the production factors of land, labour, capital and entrepreneurship together. A business without good leadership is like trying to reach new lands on a rudderless ship.

Leaders create the organisational vision, purpose and goals that everyone works towards achieving. They lead by example and inspire their teams to believe in the mission and achieve targets and milestones. Leadership skills need to be constantly honed and even seasoned leaders are dedicated to ongoing training.

Leadership used to be all about authority and power; cracking the whip and having the last word. Now it is intrinsically linked to behavioural science and psychology. Good leaders earn respect and trust, often through selfless actions and empathy for people. Constant change is such a part of modern day business that resilient and agile leaders are sought after to navigate teams and organisations through transition.

Emotional intelligence plays a big part of good leadership. The good news is that this can be studied and the leader can create a metaphorical ‘toolbox’ of strategies and tactics to employ in various scenarios. Being flexible allows win-win business solutions rather than competitive win-lose outcomes. This is crucial in this digital, collaborative business landscape.

Today’s leaders wear so many different hats. They ensure business KPIs are met, but they also are the cheerleaders for the company. Good leaders bring out the best in their employees, who feel loyal, safe and supported in their work environment.

TANZ eCampus has online courses for leaders and aspiring leaders. Leadership doesn’t always come naturally but you can learn the skills to become a great leader. If you are new to leadership, or you want to step up into a leadership role, we have a range of courses to give you the confidence you need to succeed.  https://www.tanzecampus.com/business/new-zealand-diploma-business-leadership-management-level-5/