Global Trends in Business Leadership
Career Path : Administration
Effective business leadership is an important element in successful organizations. However, business leadership changes according to societal standards, changes in the workplace and societal expectations. Changing work environments force leaders to evolve and adapt their skill sets to remain effective. This leads to the creation of new leadership trends that set the expectations of other business leaders. Being aware of emerging leadership trends is important for those studying MBA online and anyone seeking to succeed in business.
The first decade of the 21st century saw an increased use of employee empowerment as a motivational strategy. Many business leaders are placing more decision-making authority in the hands of their employees. The benefits of employee motivation are two-fold: improved customer service and heightened job worth. Empowered employees are self-motivated and trust fellow employees as well as managers.
The global financial meltdown of 2007 forced many companies to rethink their focus. Business leaders are beginning to consider new business approaches and are placing greater emphasis on how their companies’ operations affect international markets and local communities. This is why many companies are operating in more eco-friendly and socially responsible ways.
Greater Roles for Women
There is an increased number of women entering the workforce in the last two decades. As the number of women in the workforce increases, more emphasis has been placed on seeing more women in leadership and management positions. This has led many companies to focus on hiring and retaining female employees and encouraging women to take up leadership roles.
This is one of the most important trends affecting business managers in leadership. One of the most effective means of ensuring business growth is through product or market innovations. Companies are using various strategies such as idea forums, external focus activities, cross-functional innovation teams and task forces to drive innovation.
Global trends in business leadership encourage managers to adapt and utilize their knowledge, talents and skill as well as emotional and social intelligence. Emotionally and socially intelligent leaders focus on their goals, establish common grounds with their employees and avoid acting rashly. Many organizations are encouraging their managers to master emotional and social intelligence.
Non-hostile Work Environments
One positive development in today’s business world is the promotion of democratic and friendly work environments. Leaders are advised to view their subordinates as coworkers rather than as objects that they own and manage. This involves using words such as “our team” rather than “my team”. This helps employees feel valued for their contributions while encouraging them to collaborate because they feel valued for their contributions.
Applying for an online Master Business Administration degree program will help you understand how global business trends help managers to create business structures and manage their organizations. Leadership trends define how managers and employees should behave in certain business settings. In addition, global trends in business leadership are indicators of how businesses relate to societies and the effects of their marketing techniques.