Leadership Techniques to Manage Company Stakeholders
The setting up of a company is only one step in many up the stairs of corporate success. It is a journey that needs a daily booster to grow and have a competitive advantage over other rival companies. In the process of managing internal and external stakeholders, the leadership of the company plays a crucial role. This is primarily because a leader is the one who would shape and direct the people of the organization to achieve the mission and the larger vision. The style or technique used by the leadership of the company would determine the development of the entity. Often companies seek management consulting Dubai. However, little do they know that leadership and managing the company has a co-relationship and therefore goes hand in hand.
Finding the effective leadership style that works best for a company may bring the business one step closer to success. Here are different perspectives of leadership that can affect a company in various ways.
Transformational Leadership: Focusing on transforming teams and employees to ensure that they are geared towards continuous improvement. The common goal of the company is shared with everyone so that all efforts are aligned towards a singular purpose. Transformational leaders are also often seen as authentic, self-aware and empathetic. Conflict management is approached in a way that both the management and the employees are accountable for their actions and responsible for creating solutions.
Democratic Leadership: This is a technique used based on a bottom-up approach where the employees are involved in the decision-making process. A leader who respects and invites democratic action always has a seat reserved in the table for ideas and opinions of other employees. Although employee engagement is achieved through such a leadership style, quick decision making is discouraged by democratic leadership. Bureaucratic Leadership: This kind of leadership is for those who demand that rules are strictly followed. There is no space for flexibility or innovation as the employees are always told what to do. Therefore, employees are never prompted to think out of the box. This style is more apt for more routine jobs where following a standard set of procedures is mandatory.
There is not one style that works perfectly in every situation. But if a company comes up with a style that is suited to the business and the team, the leader may be well on the way to heading a successful team. However, whatever the leadership style that the leader thinks best fits the company, any and every leader should be aware and mindful of the changing laws and rules that could greatly impact the company.