The Scarcest Commodity and Resource in Business is…

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Scarcest Commodity

Leadership is a significant factor in the success of a business. Being the lead in the business, the leaders are responsible for administering and overseeing the entire operations. They ensure that the resources and functions are used in the most efficient and effective manner and that the objectives are met through strict guidelines and well-structured procedures and methods. They make sure that everything is going through as planned, and that the business is able to release the products and services in a timely manner as required or acquired.

Due to the severity and expansive role that leaders are holding in their hands, they tend to either get inspired or discouraged, which negatively affects the way they manage the business. In both ways, inspired and discouragement brings them to defocus on their goals. Sometimes they will have a hard time in getting back right from where they started, as frustrations and pride get through them and their work. Business leadership entails every leader to have the right attitude and the resiliency to be flexible when unexpected incidents or circumstances may arise in their daily role as a leader.

Acknowledgment of Failures

Human as everyone is, leaders also have their downside when they are not able to control their emotions and views in their personal lives or the struggles they have to face in the handling the business. Sometimes leaders pride themselves with the great works they’ve done. This pride may sometimes bring them into the stage of conceitedness, and when bad attitude kicks in the system, everything falls in the wrong place.

Circumstance occurs when leaders have to face challenging times in their lives, including that of their personal life. There are leaders who are able to fight back and stay confidently on the ground, but they are those who completely lose the battle, which also brings the business down.

Sometimes the pride that the leaders have kept prevents them from acknowledging the truth, that they are human, and that they made mistakes. Acknowledgement of failures is one way of improving yourself. When leaders fail to acknowledge their failures, they start losing their integrity and credibility. Their focus is redirected and tainted.

Acceptance of Improvement

Leadership in business is indeed a challenging job for anyone who is tasked to do it. When they don’t acknowledge their failures, it is impossible for them to understand and accept that they need improvement. If they’re not able to bounce back from their fall, they’ll surely lose the balance, and it would be quite hard for them to get back.

Wayward of Ownership

If a leader doesn’t know how to acknowledge their failures or mistakes and refused to improve or change, they will tend to wayward on their focus in taking ownership of their duties. Their attention will deviate to self-serving goals instead of meeting up and fulfilling the organization’s objectives and goals. The commitment is no longer there. The business will suffer.

Analyzation, Conceptualization and Formalization of Approach

Business leadership necessitates having concrete, concise and well-defined approach through examining the activities in operations with a methodical procedure by dividing matters into parts and understanding the relationship of each element or factor that affect the process of the entire business. When a leader loses his focus and interest, the business can lose so much. He will no longer be able to have a unifying idea for the business with his team. He will not be able to formulate effective results as his loyalty and dedication are not secured.

Ineffective Planning Methods

When a leader lost his interest in the company’s goals, he will result in creating ineffective planning methods that would suffer the business. This will lead to inefficient planning for the short-term and long-term plans. A self-serving leader will not be able to construct well-disciplined and well-defined plans because he will only think of what good will these plans bring to him. Leadership in business requires the leaders to create plans that will benefit the team. The leaders whose perspectives have been clouded by a small mistake he failed to acknowledge and accept will already be making decisions on his own, not for the company.

Deviation of Decision-Making

Critical thinking is extremely significant to the organization’s success. It gives the leader the full power to think and decide carefully and correctly on the management plans regarding the operations of the business. Leadership entails leaders to have critical thinking, but a leader who lost focus and desires to manage the organization, let loose of the great opportunity the company is leading to, which possibly cause a business to lose revenues.

Disorganized Organization

Leadership in business compels leaders to create a well-organized and well-structured organization which includes staffing. A leader who lost interest and willingness to excel and direct the business tends to lose his grounds in creating correct tasks and putting qualified people to work on the tasks. That’s when the systematic arrangement of the organization will be distracted and destroyed. This will result in great confusion of the entire organization, which will result in demotivated employees.

Incompetent Leading Procedures

Leadership qualities involve competencies in managing and motivating people. It is being able to foresee and oversee the possible issues and underlying concerns that the organization is anxiously dealing with. When the leader’s vision has been already blurry, it will result to incompetencies to handle people, and if people are not being handled properly, it will be a great loss to the business.

Imprecise Controlling Measures

Well-defined controlling measures should be included in the short or long term plan of an organization. Indefinite or unclear controlling measures will result to a rebuff of products and services. If this happens, business will suffer revenue loss. Business leadership should be able to keep operations cost effective if not, it will be a business downfall.

In Conclusion

The effectiveness of a leader directs the business to success. However, when leaders tend to go on a different, uncertain path, the business goes down with him too. So, you could say that leadership is the scarcest commodity in business today, as business success greatly depends on how effective it’s leaders are.

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Andreas is recognized as one the top Business Coach, Consultant and Advisor by Forbes Magazine. He is an award winning best selling author, army combat veteran and columnist at Forbes, Inc, Huffington Post and Influencive. Andreas works with business owners and business leaders to help them build high performing businesses so that they can have more profits, fans and freedom and grow their business without stress, overwhelm and burnout in any economy.

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