4 Leadership Challenges in Business

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4 Leadership Challenges in Business
Wolfgang Pinegger

Article by

Wolfgang Pinegger

Oct 19, 2017

In order to have a successful business, you have to overcome some leadership challenges that will stand in front of you.

There are many qualities a leader must possess these days if he wants to reach new heights with his team. On that road stand many challenges and some of them should not be hard to overcome. Let’s go through them together.

Realistic Goals

As a leader of the team it will be up to you to deal with project goals and what you want your team to accomplish. It should be easy for members of your team to understand the goals and see the path to reach them.

Some of the goals are going to include the whole team, but others can be individual. In order to deal with individual goals, it is important that the leader makes clear with every member of the team what their tasks are and what is expected of them. Make no mistake, failure of individual tasks can lead to uncertainty of team goals, so it is very important that the leader is specific and good at communication.

Creating a cohesion between individual and team goals, supported by clear and frequent communication will result in reaching the goal.

Recruiting

In order to have a successful business you need a good team. And that does not mean that you just need a lot of people. One of the biggest challenges in leadership is being able to recruit valuable members of the team.

If you are rushing the process of recruiting just to fill your ranks, you will just have more problems down the line. You will have to think not only about the resume and work experience they have, but also personality traits and the potential to develop inside the company.

Learning

Not too long ago, many company executives operated in silos: They were the experts in their division, but they didn’t often get involved in the work of other departments. Today, however, leaders must take a broader organizational view. For example, many CFOs have seen their responsibilities extend beyond finance into human resources, information technology, and operations.

Fostering strong relationships with coworkers outside your department can be invaluable when it comes to learning about other areas of the firm; successful leaders make sure they participate in interdepartmental committees and projects. Holding high-level management positions in professional organizations can also help executives get a broader perspective of typical organizational structures and procedures.

Delegating Tasks

Task delegation is an immensely important task for leaders. Assigning team members to tasks that don’t fit their role can provide poor results and inner frustration. Failure to delegate, or mindlessly doing so, is exemplary of a leader who does not trust their team. If a leader is unsure about a team member’s skills or experience, they should ask them and use that response when weighing which tasks to assign.

Although some leaders may be tempted to shift team members outside of their comfort zones, sticking someone with a task they’re not capable of effectively doing can sap motivation and come across mean-spirited in some scenarios. As a result, quality leaders delegate tasks with precision and foresight, acknowledging preferences and skill sets.

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