As a leader, you need to develop certain skills in order to shape your strategic leadership. The two primary functions of a leader are to make effective decisions along with positioning a vision for other people.
And to be successful in doing so, leaders have to possess not just a strategic view but also a global perspective owing to the fact that we live in a global economy today. So, you have to inherit the qualities of a global business strategy professional.
Understand your Business
It is crucial to take interest in your overall business so that you do not gain overconfidence with regards to your functional, technical as well as professional expertise. Be open to learning about the internal and the external surroundings of your business and comprehending what actually matters. Basically, this is a critical requirement for developing a strategic perspective.
1. Things you Should know about your Business
The ways your organization makes profits
The competitive advantage of your organization – what is it that appeals to your customers
In which direction your industry is going
The strategic plan as well as the priorities of your business
Being a leader you have to make a connection with your customers as well as the major production divisions of your company. This is crucial for understanding their perspective towards the organization.
The basic reason behind these activities is to gain the knowledge of how the multiple sections of your enterprise work in collaboration with one another. Moreover, you have to be curious about every aspect of your business and ask questions as much as possible.
2. Work on your Decision-Making Skills
After acquiring all the information about your business, you have to apply those learnings adequately. A fine decision making is a blend of four major components including analysis, wisdom, experience, and judgment.
The timeliness element is also there. Which means creating a balance between thinking about it seriously, however, not analyzing it in too much detail. Mainly it involves being reactive but not very speedy.
In order to become an effective decision maker, you should be familiar with a few errors, common biases, assumptions and stereotypes that have the potential to influence your decisions.
Confirmation bias – memorizing just the factors that support your point of view
Similar-to-me effect – Favoring the employees who share a similar mindset with you
Halo effect – Letting a very strong negative or positive thing overshadow the opinion that you keep
Hindsight bias – Keeping an attitude of wrongly comprehending that events in the past are definitely predictable
3. Inspire others
A good leader is the one who encourages others to do the same things as they do. Which can simply be done by clearly conveying the mission and vision of the organization along with applying a little bit of simple change management.
To make the communication more effective:
Create an ambitious vision
Spread optimism with targeting possibilities
Be passionate in order to pass on the energy to others
Keep it clear and simple, so that it becomes easier to recall and restate it