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“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.
Key Highlights
·
What is the importance of leadership
·
What is the importance of leadership in an
organisation
ü Direction
ü Conflict-resolution
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
·
Direction
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.
·
Conflict-resolution
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.
We always aim to offer you competitive interest rates on your Avanse Education loan.
The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate +
Spread.
Our current Base Rate is 14.25% (WEF 01.05.2023).
The Spread is floating and is based on analysis of overall credit and course profiling.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.