Business Leader Qualities Set Success or Failure

Business Leader Qualities Set Success or Failure

The effectiveness of leadership often determines the success or failure of a company. A business leader can make or break a team. There are varied opinions on what business leader qualities make someone successful. However, there are unique and achievable qualities all successful business leaders possess.  Business leader qualities set the stage for success or, in some instances, lack of business leader qualities set the stage for failure.

1. Ethical:

An ethical business leader treats others with fairness, which creates a workplace where employees feel comfortable. A study of 195 leaders in 15 countries over 30 global organizations sought to answer the question “What makes an effective leader?” “High moral standards” was among the most highly rated business leader qualities in the analysis. When a leader takes on this characteristic, it means they hold themselves and others to certain values and build a trustworthy environment. This environment makes their team feel safe so that they will be able to reach their full potential and drive each other to reach goals faster, achieve higher, and create an overall more successful business.

2. Humility:

Humility is an incredible business leader quality in the increasingly complicated and fast-paced business world. In the current business climate, one thing is becoming apparent: no one person can accomplish everything on their own. The world needs individuals who are conscious of their limits and aim to better themselves so that they can lead others successfully. It needs business leaders that understand they don’t have all the answers

Humility is the antithesis of ego, which often leads us to believe our way is always the right way. When we approach our work humbly, it illustrates an authenticity to others that then creates trustworthiness and human connection. A humble business leader is willing and able to learn, which also helps to build a foundation of trust among their team. Establishing trust allows leaders to encourage creativity and smart thinking.

Orly Maravankin, Founder of Edge Consulting, suggests ways that leaders can embrace humility, including the following: connect with your aspirations, adopt a mindset shift, expand your self-awareness, and ask for help. Each of these suggestions can be accomplished by quietly taking a step back and obtaining a realistic view of one’s successes and failures.

3. Discipline:

This business leader quality is applicable in many areas, even as one strives to be more humble. However, it is of specific importance when it comes to action. A great leader is not defined by who they are, but by what they do. Ronald Heifetz, the author of “Leadership Without Easy Answers,” suggests that rather than defining leadership either as a position of authority or a personal set of characteristics, we should define leadership as an activity.

It is crucial that a business leader make quick and efficient decisions. Effective action derives from being disciplined in one’s understanding of individual motivation, as well as company motivation. When a leader is firm in their motivation, they will be better suited to motivating a team to act, so together they can reach their goal.

4. Open-minded:

In any business, leaders and their team must be willing to learn.  They must be able to grow and adapt to survive in an increasingly competitive market. To foster learning in a company, a leader must remain open-minded. When one displays a willingness to be open and unbiased, it eases worry about being wrong and failing.

Excellent ideas take shape when a leader openly acknowledges the inevitability of failure and encourages risk-taking. In Sunnie Giles’ article “The Most Important Leadership Competencies, According to Leaders Around the World”, he suggests that leaders “try to approach problem-solving discussions without a particular agenda or outcome, withhold judgment until everyone has spoken, and let people know that all ideas will be considered.” This approach promotes the formation of diverse and unique ideas.

Ultimately, business leader qualities depend on the individual.
Leaders must find a personal approach to leadership, one that suits their role and their business. However, it is beneficial to everyone when leaders make an effort to better themselves and adopt new strategies and qualities that propel their business forward.