Leadership in business is the capacity of a company's management to set and achieve challenging goals, take fast and decisive action when needed, outperform the competition, and inspire others to perform at the highest level they can.
The best defination of leadership is “The action of leading a group of people or an organisation.” That's how the Oxford Dictionary defines leadership. In simple words, leadership is about taking risks and challenging the status quo. Leaders motivate others to achieve something new and better.
This Article tells you about The Key Leadership Skills you need to know.
1. Relationship building
Relationship Building is working to build or maintain ethical relationships or networks or contacts with people who are, or may be, potentially helpful in achieving work-related goals and establishing advantages. This could be people inside or outside the organization, stakeholders, clients, colleagues or others.
They should be able to negotiate and handle work problems without alienating others. This requires leadership empathy and understanding others' perspectives and needs. Leaders with honed relationship skills show kindness in the workplace and are able to develop a rapport with all kinds of people.
Hence this is one of the important skills of Leadeship.
2. Agility and adaptability
Agility - the ability to quickly adapt or evolve in response to changing circumstances (biospace.com). leadership agility is the ability to effectively lead organizational change, build teams, and navigate challenging business conversations.
Adaptability - to embrace change; to be flexible and able to change in order to become successful (thebalancecareers.com) In today's workspace, it's no longer just about degrees or disciplines or skills and strengths. adaptability is about having ready access to different ways of thinking, enabling leaders to shift and experiment as things change. Having an elastic cognitive approach allows leaders to use different thinking strategies and mental frameworks.
3. Employee motivation
Employee motivation is the enthusiasm, energy level, commitment, and amount of creativity that an employee brings to the organization on a daily basis.
Motivation is derived from the Latin word, “movere” which literally means movement.
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Therefore, all the definitions that you would read in books or in dictionary relate to the fact that motivation is behavior and one needs to channelize this behavior in order to achieve desired goals and results.
Subsequently, employee motivation is all about how engaged an employee feels in tandem to the organization’s goals and how empowered he/she feels. Motivation is of two types:
Intrinsic motivation - Intrinsic motivation is defined as the doing of an activity for its inherent satisfaction rather than for some separable consequence. When intrinsically motivated, a person is moved to act for the fun or challenge entailed rather than because of external products, pressures, or rewards.
Extrinsic motivation - Extrinsic motivation is defined as a motivation to participate in an activity based on meeting an external goal, garnering praise and approval, winning a competition, or receiving an award or payment.
Good decision-making can help managers show their employees that they value their work and have their best interests in mind. When a manager takes the time to evaluate, analyze and explain decisions, they also display thoughtfulness and trustworthiness.
One of the most important skills of good Leadership is Decision Making.
Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.
Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternatives.
Someone with good decision-making skills at work can assess all the facts, understand the company's current state and goal state, and choose the best course of action.
5. Critical Thinking
The other important Leadership skill one should hold is Thinking in Critical Conditions.
Critical thinking is the ability to analyze facts and form a judgment. It is a form of emotional intelligence. Someone with critical thinking skills can think clearly and rationally when the situation demands it. It allows them to perform problem-solving and decision-making more effectively.
“Critical Thinking prevents individuals from being susceptible to manipulation. Moreover, critical thinking allows people to solve problems more creatively, independently, and effectively.”