Any productive activity that an individual undertakes with a view to earn profits needs to have four basic attributes, which are land, labor, capital and entrepreneurship. However, the last factor is very important because it ensures that the other three elements work seamlessly in any commercial or industrial enterprise. Without effective business leadership, these resources cannot function effectively in such endeavors and remain domain. Entrepreneurs with adequate business acumen are aware of the requirements and issues facing their subordinates to go out of their way to solve them. In addition to this, they are aware of the latest developments in this domain and are a catalyst in creating efficient working environments.
Sam Zherka , an individual from the United States, says the following traits in effective business leaders make them stand out among the crowd in any commercial and industrial organization:
- Self Assessment
All effective business leaders have the habit of taking stock of their inherent strengths and weakness. This enables to delegate to others those attributes that they do not possess with the view of achieving the common objectives of the organization they are leading. Instead of holding to the assumption that they can manage everything, efficient entrepreneurs hire individuals with qualities that harmonize their skills.
- Effective Communicators
All entrepreneurs with effective business leadership skills are by nature and need good communicators. Such leaders are the individuals who can present their ideas clearly to their subordinates on how to turn the vision and mission objectives of the organization into a reality. This enables them to get the unconditional support of such team members in any endeavor they undertaking for the common good of the establishment.
- Proactive and responsive to needs of their subordinates
Any effective business leader needs to be aware of the needs of his/her subordinates to ensure they are able to discharge their obligations effectively and efficiently. Many individuals consider trust more important than creativity in the people who lead in an organization while others prefer an effective communicator. Building an effective team is easy when a leader understands the attributes and goals of each team member. Moreover, he/her needs to be observant of the traits such members expect in him/her to lead them.
- Understanding the organization
Effective business leaders are aware of the overall vision and mission of the commercial or industrial undertakings they are operating. Moreover, they agree with the strategies such organizations take to achieve their objectives in the environment in which they conduct their activities. They also know the role their team members have to play in assisting their establishments to survive and strive in such surroundings.
- Being able to assess the needs of customers
Whatever the size of the establishment they operate effective business leaders need to be aware of the needs of their customers in order to succeed in the marketplace. Knowing what their clients’ require and exceeding their expectations helps them to make their organization stand apart.
Sammy Zherka goes on to say the above traits in an effective business leader make him/her a class apart in the market.