Top 5 Leadership Styles for Business Success in Any Industry

Leadership Styles

Why is leadership so important?

A leader is the linchpin of any organization. It seldom matters what the nature of the organization is like when collated with the role of a leader. But what makes a leader strong and competent enough to be called a leader? Before everything else, a great leader is self-aware and gives immense prominence to personal growth on an individual scale. This is important because only a leader who is eager to evolve as a human being would be working hard to inspire the same positive change in others.

Good leaders possess a strong sense of emotional intelligence within themselves which helps them be more empathetic, resilient, versatile, and open-minded toward the needs of others. Not only are these qualities an integral step in the right direction as a leader, but they also pave way for the overall prioritization and accomplishment of the company goals.

Leading is an all-encompassing job that requires consistent coordination and managing of tasks, in order to garner a more streamlined version of the organization’s vision and ultimate goals, so that everyone gets to perform with the best of their abilities as they work to bring them to fruition. This article will help you to maximize your leadership styles to be successful in any industry.

Transformational Leadership

Just like about anything in life, there is a particular type too when we talk about leadership styles. A leadership style is primarily a leader’s manner or approach of providing direction for the employees, implementing plans in a careful way, and inspiring people whenever needed. As the name suggests, a transformational leadership style is one that is always working toward the improvement of the organization’s set of rules and standards for itself. In this kind of leadership role, the leader wants to persistently push their employees out of their comfort zones by doing things differently.

A leader might ask their employees to give them a list of organizational goals and a plan of making those goals come to reality. A leader with the transformational style would spice things up by asking the employees to get the work done five times faster than they normally would, or challenge their intellectual and physical stamina by allotting them more work.

This form of leadership style can be highly beneficial for organizations that are inclined more toward the growth mindset of the overall company. However, there are times when transformational leaders are prone to lose sight of people’s individual learning abilities and talents, and end up doing more harm than good.

Coach-Style Leadership

As compared to the previous leadership style, the coach-style leadership style primarily focuses on the identification of the strong suits of individual employees and then designing a suitable strategy or plan for each one of them to become a competent and active participant of the team. Leaders who fall under this category know very well how to nurture the strengths of their employees, similar to transformational leadership, but the emphasis is more toward honing every individuals’ skill set. A coach-style leader does not homogenize or compromise on the skills of their employees by forcing everything all together. This leader incorporates practices that involve building strong teams that can easily interact with one another and accept their team member's unique talents and areas of expertise.

A leader moving forward on the tenets of this style might give their employees extra tasks in order to increase their stamina and perseverance, offering them good advice, or simply providing them constructive feedback that will help them work more proficiently on their abilities. Because of this increased individualized concentration and intellectual stimulation, this type of leadership style is guaranteed to help leaders in any field of work successfully.

Strategic Leadership

A leader is rather incomplete without a strategy. In most cases, leaders are often evaluated on their basis to develop ambitious but realistic strategic plans for their organizations. Strategic leaders are one of the most versatile leaders among all the other leaders because they work as the company’s chief operations and monitor the opportunities for growth and expansion.

This leadership style is also one of the most infallible styles because it is very effectual when it comes to helping the company out in a time of an unforeseen economic predicament. When faced with such situations, strategic leaders will take all the proceedings of the executive domain into their hands and work toward keeping things stable until the situation is back to normal.

This is also one of the most desirable leadership styles any company could adopt, and nowadays companies are recruiting individuals who are natural at this leadership style. The only thing to note is that while this leadership style might be benefitting a lot of people because of strategic thinking, there are chances sometimes it can set an unhealthy precedent for the company.

Democratic Leadership

This type of leading style runs contrary to the autocratic type of style, which demands complete subservience to the conventions of an organization. In a democratic leadership system, a leader deducts and evaluates every member on the basis of their input, and then makes decisions. Despite the fact that the leader gets the privilege to make decisions for the entire team, every employee has an equal say on a project’s affairs.

Democratic leadership is an unwavering approach to leadership and is generally considered a very effective leadership strategy because it grants subordinate employees to practice their workplace autonomy which they will require to make large-scale decisions in future positions.

A very effective methodology for leaders will be to implement some parts of the strategic leadership style if they want to extract maximum results from this type of leadership style. For a democratic leader, the opinion of the other team members is very important so they will make sure there is no discord among the other employees.

Visionary Leadership

A leader cannot be called a leader if their ability to delineate a vision for their team does not transcend commonplace ideas. A visionary leader is someone who takes into account all the aforementioned leadership styles mentioned in the article. These leaders have a magnetic ability to draw people to them and urge them toward progress by inspiring innovative ideas in them once they gain their trust for the better. Strong organizational strategies and bonds come naturally to the people of this style. They are magicians when it comes to fostering confidence among their employees and build a reliable network to fall back on during unprecedented times.

This type of leadership style is also best suited for small but fast-growing businesses, as well as larger corporations undergoing transformations or foundational restructuring. Visionary leaders should keep in mind that sometimes they may fail to notice important details because they’re too focused on the larger picture. Being a visionary leader, no matter how optimistic or innovative, they should not compromise on the resolution of present-day issues because they are so future-oriented.

That being said, a leader’s role cannot be standardized to look concordant with the leadership styles of leaders all over the world. The business sector of the contemporary world requires a considerable amount of perseverance to combat the challenges of today’s diverse workforce for leaders. If leaders want to survive in this business world, then they need to employ newer approaches in addition to traditional leadership styles that are still preeminent in the workspace these days.

Want to read more about leadership? Here some more articles:  7 Leadership Mistakes to Avoid Leading Your Team Remotely

Top 10 Essential Leadership Skills to Master Post Covid-19

Dr. Tina Persson |CEO| Career & Leadership Coach| Author | Helping people to fulfil their goals

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