Challenges to the Business leaders of the 21st century

Business leaders

There are some preconditions that exist, since a really long time, which serve as attributes to make a successful leader. This includes one to have the capability to innovate, to execute all the right strategies to good effect as well as come across as a role model for the people they are surrounded by. However, given the times that we exist in, we have to make sure that we keep up with the changes that the world is met with from time to time.
Although, the countries seem to be slowly improving after the financial crisis that they were struck by back in the year 2008 – economists are still of the view that the economic environment that we function in is far from being stable. A similar crisis to that seen in the year 2008 is being anticipated because of increasing trade tensions between the US and other nations. This does have an impact on the functioning of companies as well as their leaders.
Thus, there are certain traits which are going to meet the dynamics of the times that we are a part of:

  • Develop with the evolving times: What is required of the leaders of today is that they work in accordance with the upcoming opportunities and grab the chance of getting ahold of information from all sources that are available, thus, finding a new angle to tackle the problems and reap benefits as they come their way. Putting in crisper terms, it’s about time that we begin to fight the feeling of being satisfied with the current state. Thus, the demanding task that leaders have to exercise is to keep evolving in the times that they exist to flee from being eliminated.
  • Retaining the talent in the workforce: Time and time again, a myriad number of firms try to make it big and try to fetch the best pool of team members to increase the productivity manifold. This serves as a hint to the leader that there must be a measure that they devise in order to retain the required talent form being pitched away by the many firms that are on the hunt. It implies that a leader must comprehend the fact that they should not exercise too much or too little control over their team and rather provide the latter with a concrete framework. This will allow the team with various permutations and combinations of autonomy while they function in the apt framework provided. This means learning and growth go hand in hand with the supervision of a leader and the required workforce is retained.
  • Holding an accountable position: According to Joel Barker, a futurist, a leader is a person who the people opt to follow in order to head “someplace” where they would not go by themselves. A leader is not going to ask for someone to follow them instead they will entice the people to follow the former in their own ways. The “someplace” as we infer is somewhere in the future. The people tread on this path to a happier or substandard life as guided by the leader’s vision. This means that great amounts of accountability are indispensable while speaking of a leader and they must not refrain from this responsibility.
  • Bringing about transparency while sticking to the ethics of the organization: Aforementioned 2008 financial crisis have harbored suspicions amongst the workers, thus, this situation demands of the leaders to bring transparency as well as inclusivity in the communication channels that exist within an organization. Alongside moulding the workforce as per the needs of tomorrow, a leader must align the former’s skillset in tandem with the objectives that their organization stands in support of. Thus, the sort of leadership one exercises must capture the essence of the organization that they operate for. This is a clear implication that the leaders are required to maintain a subtle balance between company growth as well as effective responsiveness towards the people of the company.
  • Knowledge over power: Sir Peter Drucker was of the view that the upcoming industries are going to differ from the traditional ones as the newer industries are in search of workers who have knowledge not only with respect to a particular realm but also in those areas which are going to benefit the firm in multitudinous ways. Education is available to few, but knowledge is free if you manage to hit home the point and are up-to-date. Thus, a leader must be knowledgeable, but it’s about how you grasp the knowledge and, also, about how you implement it, effectively.

The challenges being foreseen in the future world are becoming harder by the minute, and it is required of the people to polish themselves with the passing minute to reach the last rung of success. From developing next-generation leaders to managing uncertainty, a lot of responsibility is at the disposal of a leader and how they manage it with the economic and business environment that exists in the 21st century will decide whether they have managed to become successful.
Have an open mind because it is not going to fall out”, rather it is going to help you manage the various ups and down in the upcoming century.
About the Author
As the Founder and CEO of Racknet, Saurabh Rapatwar has been the driving force of the company since its inception in 2013. With a sole concept of ‘Satisfaction Delivered’, Saurabh had led the workforce from the front and is highly successful in managing an extensive portfolio of customized services and solutions. It’s a one-stop destination in offering world-class web hosting and IT services.

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