“The leader is one who, out of the clutter, brings simplicity… out of discord, harmony… and out of difficulty, opportunity.” – Albert Einstein.
Leadership is an essential skill that every student must learn to be an influential manager or an effective leader of tomorrow. Leadership is critical at every level of the organisation, including lower-level, middle, and top-level management. Complex business dynamics drive companies to develop sustainable, profitable growth, and great leaders manage to achieve this by developing the right strategy and motivating others. Here’s everything you must know as a student about leadership in management.
· What is the importance of leadership
· What is the importance of leadership in an organisation
ü Transform the businesses
ü Overall organisational development
· Importance of leadership skills for students
ü Communication skills
ü Build trust
ü Listening skills
What is the importance of leadership
Management involves the utilisation of all the resources of the organisation, such as time, finances, human capital and assets, to achieve business goals. Leadership plays a significant role in effective management as it brings the right direction for all the resources to work in harmony.
· Things to remember
ü With their people management skills, management leaders motivate people to achieve individual and team targets.
ü New-age leaders create strategies to increase productivity at work.
ü Effective leaders encourage innovative thinking
What is the importance of leadership in an organisation
Leaders should impart core company values to ensure a smooth and frictionless work environment. The guidance provided by the managers holds the team together and helps them focus on the goals instead of getting distracted during challenging times. For instance, during the pandemic, many businesses were affected, but organisations with competent leaders were not only able to sustain but also thrive in a time of crisis.
Managers understand the complexities of human behaviour and how to deal with conflicts that arise at different levels of an organisation. They synergise the collaboration of teams and put their negotiation skills to use in order to resolve the differences constructively.
· Transform the businesses
In today’s time, adapting to ever-evolving technology and changing market trends is necessary to survive. Many successful businesses have failed due to a lack of creativity and refusing to adopt new technology. The leaders introduce the change with critical thinking, analytical skills, and intuitiveness. These changemakers eliminate the traces of resistance to change and facilitate a smooth transition to new processes.
· Overall organisational development
Managing the business is an interplay of many aspects, such as logistics, budgeting, operations, production, and launching of new products, to name a few. As future managers, you will be responsible for managing functions beyond operations because the company’s success depends on the synchronisation of multiple factors and the optimisation of resources.
Importance of leadership skills for students
As students, you will interact with your peers, work in teams to complete project work, collaborate with faculty members, and so on. This is where you will need leadership skills to effectively complete your task, engage with the team and build rapport. Besides, these skills will come in handy when you take up internships or work full-time.
Some important skills for you that will assist in your student and professional life
· Communication skills
You are expected to express yourself effectively and direct as a leader. Good verbal and non-verbal communication skills can influence the team to achieve more. Whether you have to delegate work, allot targets, or celebrate an achievement, you must communicate effectively.
· Build trust
Imagine this – You have a big project to complete, and you pass it on to your team members and expect them to complete it within the deadline. Instead, you come back to witness the chaos, with each member blaming the other for the project’s failure. Hence, leaders are supposed to build trust so that members complete not just individual targets but team targets too.
· Listening skills
These skills are often underrated, but active listening can assist you in understanding your team, their challenges and expectations. Your team members are the ones who are closely associated with the operation and business process and may encounter issues and come up with innovative ideas. Listening to them allows the free flow of ideas and a healthy exchange of views and solutions to problems.
So, this is how important leadership is in management. If you are an aspiring leader, we wish you all the best with your academic planning to become one. You can get student loans if you need financial assistance on your academic path. At Avanse Financial Services, we offer loans for students for an extensive range of courses, including an MBA. If you have any queries, please connect with us. We will be glad to help you.
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Our current Base Rate is 14.25% (WEF 01.05.2023).
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