Leadership Is The Key Factor In Business Success

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Leadership is the critical factor in Business success- (1)“I’ve always found that the speed of the boss is the speed of the team”-Lee Iacocca I am of the opinion that leadership is the critical factor in business. Although perhaps not in the way the business leadership has been presented in the past. I am of the conviction that the traditional summary of a business manager as one who plans organises coordinates and controls is hugely short sighted and fails to grasp the full importance of the business manager/leader. For me it seems one of the critical factors for success in the business world is motivation. If the employees and management of a company are unmotivated success will remain a distant dream. That said it is clear that a leader must have enormous powers of motivation to get the employees of a firm to strive successfully towards a goal this adheres to the economic principle that “People respond to Incentives”. Common sense tells us that information (current and relevant) is vital to the success of a company. Managers are responsible for the analysis and in some cases gathering of this information. It is the skill and determination of a manager in obtaining and interpreting vital information that will allow them to make an informed decision that will benefit the company.(2) That said world acclaimed Business author Henry Mintzberg pointed out through numerous studies of managers and their daily actions that most managers do not write down a great deal of the verbal information they receive often making them unique in their understanding of a situation based on the evidence they have available. It is also the responsibility of a leader to create a wide network for the gathering of vital information. The failure of a business leader to create the necessary contacts and relationships that will provide useful information for the formation of a future

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