The meaning of the terms “leadership” and “management” seems the same, but actually, it is not. Leaders are not made with their position; they are made with their followers. They are responsible for managing different people and motivating them for the common organizational goals. It’s impossible for a person who does not possess effective leadership skills to handle every significant duty.
There are plenty of leadership styles that portray distinctive characteristics. Some of the leadership styles are listed as follows:
-
Strategic Leadership
This type of leadership is exceptionally effective for startup businesses. It focuses on developing the organization when there are not enough employees. Situation analysis is the main skill required in the leader to take the best advantage of conditions at the moment.
-
Democratic Leadership
It is also called participative leadership. In this style of leadership, every member of the team equally participates in the decision-making process. They actively participate in the discussion and ensure listening to the views of every individual.
-
Delegative Leadership
It is also known as Laissez-Faire leadership. This leadership style allows followers to make the best decisions for themselves. The members have the freedom to find the most effective solution for their issues.
The types of leadership styles are not limited to strategic, democratic, and delegative. However, there are numerous styles, including autocratic, transactional, charismatic, transformational, and many more, which are enforced depending upon the demands of the situation. Whether you are leading a project or a whole team, you must identify and follow the most defined leadership style. You will find many professionals who develop their own leadership styles based upon their personalities. You might know about Sheldon Inwentash Toronto, who is currently the Chairman and CEO of ThreeD Capital Inc. Also, he is the founder of many other companies, including GeneVest Inc., Visible Genetics Inc., etc., which contributed to his profitability and net worth. Sheldon Inwentash net worth was the output of the efforts and hard work he put into running these companies with his leadership style.
Leadership Qualities
Below we’ve listed some of the most eminent qualities that must be present within the personality of the leaders:
-
Communication
Good leaders must be able to effectively interact with their subordinates. Excellent communication skills help demonstrate empathy and build interpersonal relationships.
-
Authenticity
The table of leaders is the final point for the subordinates where they can clear their doubts and share their problems. A leader must maintain transparency and share the most authentic information with their subordinates.
-
Responsibility with flexibility
A leader must have a strong sense of responsibility and dependability. These qualities are better utilized in handling multiple projects at a time. Flexibility is another trait that is required to the task done orderly.
In the End
Leadership refers to the ability to lead and guide subordinates. A good leader like Mark Zuckerberg emphasizes self and team development. They are highly creative, civic-minded, and innovative, which makes them effective enough to drive revolutionary change in the functions of the organization.
