What Makes A Great Leader In Business?

Sponsored by EGADE Business School at Tecnológico de Monterrey

During these uncertain times, as the world tries to navigate its way through instability and unpredictability, it’s safe to say that great leadership in business has never been so valuable.

But, what does it take to be a great leader? While we could reel off a whole list of skills and attributes that make a great leader, we’ve narrowed it down to the following…

Cultivating compassion and integrity

Creating a positive workplace environment should be standard, and not a privilege. A great leader should be mindful, and make themselves readily available should their team feel the need to approach them with any concerns or questions they might have.

Also being aware of the team’s needs and interests can make all the difference when it comes to boosting team morale. Team members who feel valued are more likely to want to stay in their job and do the best they can when it comes to their roles and responsibilities. Employees who don’t feel valued can have a negative impact on business productivity.

Facilitating communication to boost productivity

Communication in the workplace, no matter how big or small, is essential. As a leader, your colleagues and employees will look to you when it comes to setting the tone, culture and values of the business.

You should be clear and concise wherever, and whenever you communicate – especially in today’s business world as many are still working from home, and the likes of Zoom meetings and other forms of virtual communication have become essential to everyday life.

If you want to see business productivity increase efficiently and effectively, you’re going to need to define the business’s goals and objectives. On top of this, it’s important to see projects and initiatives completed on time, in budget and to a sufficient standard.

Encouraging regular conversations is critical, especially when it comes to offering up ideas and solutions, as well as clarifying information and offering effective feedback.

Always expecting the unexpected

Being flexible and adaptable has never been so important. But what also comes with the unexpected is the potential for opportunity. To navigate through such uncertainty is admirable – but leading a team to do the same when it comes to resetting strategies and taking (calculated) risks is a powerful tool. 

Establishing collaborative and transparent leadership

EGADE Business School at Tecnológico de Monterrey in Mexico, has recently published its decalogue for the economic and business development in Mexico. In it, it emphasizes its commitment to the Mexican entrepreneurial ecosystem and its dedication to finding proactive solutions in the face of the coronavirus pandemic.

One key theme, in particular, focuses on forging collaborative, transparent leadership. It recognizes the agenda for leaders who have the ability to ‘think strategically and communicate effectively’.

Business schools around the world, such as EGADE Business School offer a range of postgraduate degree programs which give students the opportunity to enhance their leadership skills and knowledge. EGADE’s Full-Time MBA highlights the importance of developing strong leadership skills both in the classroom and through experiential learning experiences – something which the Decalogue has identified essential when it comes to business growth during these uncertain times. 

The curriculum is dedicated to four focus areas, in order to train students as to how they can best navigate the business’s future. Business simulators and case projects enable students to develop not only their leadership skills, but their communication, project management, critical and creative thinking skills, through solving genuine business problems for established organizations.

Being a role model while leading and motivating others through certainty (and uncertainty)

There’s no denying the coronavirus pandemic has perhaps been the ultimate test of leadership in business. In fact, a recent Harvard Business Review article considered how ‘real leaders evolve in the face of a crisis.’ 

So whether you’re leading a project or are in a management position, keep in mind that nobody likes a leader who doesn’t lead by example.

In fact, a 2018 report by the Chartered Management Institute found that 70 percent of employers believe all students should study modules specializing in management, entrepreneurship and/or leadership.

So when it comes to fostering problem-solving and creative-thinking skills at EGADE Business School, Full-Time MBA in Innovation & Entrepreneurship students can utilize the Innovation Lab, and solve real problems for reputable organizations, while the Advancing Women in Leadership Scholarship is awarded to exceptional female leaders, who want to enhance their leadership and professional development.

Nature vs. nurture

It’s important to remember that there’s no one size fits all leadership style. How you lead your team depends on a number of factors and being a great leader isn’t necessarily about titles or even accolades. While some individuals may possess more typical personality traits that makes them more natural leaders, when it comes to great leadership, there’s no real set formula.