Throughout my MBA program, I became a strong believer that the leaders are made and not born. For the longest time, I thought being a great leader is a skill that we are born with, but considering different managers I had through my career, this is not the case. In the interview with Zaki, he argues that empathy plays a big impact on effective leadership (Emmert, 2020). Empathy creates links between camps, giving us collective power to accomplish more together than we ever could apart (Emmert, 2020). Zaki also explains that more empathetic people are often chosen by their peers as natural leaders and are usually liked by others, but as they gain more power, they often shed their empathy (Emmert, 2020).
Another key element of an effective leadership is self-awareness. In the analysis conducted by Merryck & Co. and the Barrett Values Centre on 500 leaders who aspired to be self-aware, it was concluded that the leaders are mostly oblivious to the way their colleagues view their weaknesses (Shafer et al., 2020). Leadersâ€™ blind spots can limit their opportunities, impede their performance, and ultimately drag down their career (Shafer et al., 2020). The lack of awareness on leadersâ€™ part on how they are perceived means they are probably not getting the best out of their followers (Shafer et al., 2020).
The way executives and managers act and lead have changed drastically over the years. Itâ€™s essential for leaders to be comfortable saying the words â€œI donâ€™t knowâ€ and â€œIâ€™m not sureâ€, and they also have to show the need for more listening and flexible thinking (Bryant, 2020). Bryant (2020) also argues the importance of leaders to be agile and to be able to embrace ambiguity. Essentially, being flexible and open minded in which we can look at the problem from a different angle can make us learn something new.
There are a few key elements of an effective leadership and governance system for a global organization entering a new market. The first thing a manager and consultant has to do is do their research on the market in each global region they will distribute, sale and market their product. If you want to become a successful international business leader, transcending your own cultural perspective and learning how business is done in different contexts is essential (Clawson, 2019). The next thing to consider would be laws in the global regions for the new market the company will enter. The next consideration would be the human resource consideration. When you go into a new market you most likely will have to hire fresh minds that have experience in that market. When you have a global perspective, you think strategically about managing business using the best people from around the planet (Clawson, 2019). You would have to advertise the new market to customers to try to draw them in. What I would suggest to the CEO is to come up with a business plan for his new market and I could assist with this. The new market would have to have an explanation of the products and services for the new market. There should be a market analysis along with a marketing plan for the new market. The new market should have a sales projection and an ownership/leadership management plan. Last there should be a financial plan. Coming up with a clear plan would help the CEO to understand which direction to take for the new market the company will be entering globally. Structure is always key when you have a company and are going into a new market. Everyone from top to bottom has to know what is their duties with the company.
In the 21st century, globalization plays a huge role that makes many companies have to expand their capacities to other countries in order to gain a competitive advantage because the new countries have cheaper resources or other higher demands. Globalization basically lets businesses operate across the planet where there are different cultural, economic systems, languages, skills, legal, and beliefs. It is challenging for leaders that have to control employees and operate businesses across the globe to achieve common business goals. However, business models are different from one country to another which makes global leaders must understand the requirements in each country for customized marketing, products or services, selling techniques, and advertising.
Some suggestions that would be given to a CEO, according to Clawson (2019) gives a few critical skills for a global leadership which there are three highlight points including well-spoken, sensitivity to cultural diversity, and lifelong curiosity.
Begin with well-spoken, because clear communication is a powerful leadership trait to have on the global stage. Without a lack of understating, it will reduce conflicts and frustrations within the organization and a result will improve employeesâ€™ productivity. Next, â€œWhen in Rome do as the Romans doâ€, since culture and diversity are really sensitive topics, the leaders should deeply understand other countries in what dos and donâ€™ts. Lastly, lifelong curiosity, since the leaders/companies are about to enter the new markets, they are generally curious about anything new which leaders need to adapt, adopt, and learn new things every day to have better ideas and decisions.