Perspectives of Leadership In Economic, Social & Political Context

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The changing perspectives of leadership in economic, social and political context

Leadership can be understood as the managerial ability of an individual to influence, motivate and enable the management teams to contribute towards the effectiveness and success of an organization. It is a process whereby an individual influence a group and directs everyone at organization toward working with effective management principles to achieve the set goals.

Leadership in economic context:

• Diversity a priority: In a global economy it is becoming increasingly important for the leaders to adopt diversity in their working skills (Antonakis and Day, 2017).Culturally diversified leaders are those who elevate diversity to the top of organizational planning and view diversity as the critical factor to innovation and creativity. Leaders must enable rich communication and get to know the people and their differences to enhance their capabilities.
• Culture intelligence: A culture intelligence leader in an economy enables rich communication and adopts with a vulnerable approach by creating an inviting space in environment for intercultural dialogue. They must make accountability a core value and work towards increasing the diversity for fostering creativity and culture intelligence skills.

Leadership in social context:

• Collaborative communication: An effective leader must work on increasing collaborative communication skills in the team members which enables increased flow of ideas and collaborative learning within the organization (Antonakis, 2017).Dedicated leaders enable the growth of humanistic, responsible and supportive elements in the workforce by focusing on collaborative communication.
• Integrity: Integrity is an important quality of successful leader to recognize the changes coming in management due to increasing competition in economy and work towards adapting the changes openly. 
• Optimistic vision: Successful leaders craft a transformative optimistic vision and share it with a sense of passion by mobilizing the team to execute vision and sustain momentum through constant reinforcement of ideas. This approach demands consistent, authentic and transparent communication strategy between the management hierarchies.

Leadership in political context:

• Power: An important quality of an efficient leader in changing political scenario is the way he exercises his power (Covin and Slevin, 2017).It can be understood as the way leaders behave and uses his power to delegate the functions in teams and subordinates for reaching business goals effectively.
• Principles of good governance: An efficient leader must follow the principle of good governance to achieve the goals and sustain the quality in delivering first-rate services. The increasing complexities and requirements arising from the constant change in world, coupled with constant push for higher levels of productivity, require ethical implementation of good governance principles(Dugan, 2017.)
• Accountability: Accountability is a concept in ethics and governance with several concepts such as responsibility, blameworthiness and the role to be accountable of ones duties towards the management. An effective leader holds the unaccountability of actions done by subordinates towards the management.
• Developing managerial effectiveness- In volatile business environment with diverse workforce culture it becomes difficult for the leader to manage teams effectively. Leaders need to develop principles of managerial effectiveness in diverse business culture by working towards enriching principles of management. Enhance collaborative working styles and motivate the team member to work with ethical code of conduct.
• Inspiring other-In today's volatile business world it is necessary for leaders to keep employees motivated and inspired for reaching higher performance standards and working towards effective production goals. Inspiring subordinates help leaders to guide them for reaching company profit margins.
• Developing employees- In today's volatile business environment it is important to develop the skills in employees by the leader of teams to increase their productivity levels. Training them with new skills to reach increased profit margin in goods production and enable the company to gain competitive advantage.
• Leading teams- In today's volatile business environment it is important for the leaders to lead their team effectively, establish strong communication between the employees. By motivating the teams with technical guidance leaders enhance their working procedures and establish benchmarks to reach the goals.
• Guiding change – In the volatile business environment where new technological changes are coming every day, it is important for leaders to guide change and enhance the technological up gradation in working styles. By guiding change through leaders they pave paths for enriched production and high profit margins in company.
• Managing internal stakeholders and politics – In today's volatile business environment it is important for leaders to manage internal stakeholders which are employees and other management hierarchies. Establish coordination by leading the teams in right direction, avoiding politics between them and establishing easy flow of communication between all.
• It is imperative for the leader to handle internal issue arising within internal stakeholders for effective management in company.
• Persuasion and influencing skills -A responsible leader need to have the ability to persuade and influence the team members under him effectively for reaching the business goals set by company. By proper execution of his power he must influence the team members to work with coordination and use their energies with passion to enhance their performance standards.
• Commitment and passion- A responsible leader needs to have commitment and passion towards his work and lead the team by high level of enthusiasm in making the right appropriate decisions and influencing the employees effectively.
• Good communicator – A responsible leader needs to be a communicator and establish good strong communication standards within the team to enhance their performance levels in accordance with the company goals.
• Inspire others – A responsible leader must have the quality to inspire others with his performance and must have the courage to work with loyalty and endurance.
• Delegation and empowerment – A responsible leader must have the ability to delegate his powers effectively to the team members and empower them to increase their performance levels. He should keep coordination factor in mind while delegating the functions to subordinates for reaching production levels.
• Decision making capabilities -A responsible leader must have strong decision capabilities to bring changes in functioning of team members. The leader holds sole responsibility in taking decisions for the subordinates,to improve their standards and increase the profit margins of company.

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Challenges In leadership in today's volatile business environment.

Different characteristics of a responsible leader.

The importance of demonstrating responsible leadership to lead the organisation during a process of change.

A responsible leader must demonstrate effective leadership traits to lead the company successfully in the process of change. When good leadership is in place,it can be felt throughout the entire organization. An effective leader develops the business culture in correct direction with open and effective communication in all team members. An environment where employees have a free flow of communication and vision of company is clear,it enables high production levels and better quality management.

• Dynamic business environment-The importance of demonstrating responsible leadership to lead the organization in a process of change can be understood as there is high level of competitiveness in the working levels of companies. A good leader with dynamic attitude in working styles contributes the organization to fight the competitive levels in companies effectively. A dynamic leader is someone who progressively clarifies business goals in management teams members and guide them in serving the organizational Misson effectively. The organization in today's business world dosent have the luxury of stability since it faces an ever-increasing change in marketplace, customers and technology.
• Higher performance levels -With continuous evolving business world in today's environment companies need to have responsible leaders to enhance the performance levels by increasing the production targets and quality in services and products. The organization needs to harness new ideas, skills and energies within the team leaders to reach the production targets and company business goals. Responsible leader clarifies and refines his unique point of view in company growth by integrating inputs from self-reflection study, mentoring and proper feedback (Grossman and Valiga, 2016).
• Organizational excellence – Responsible leader in company helps in building strategic direction for the company to reach its goals. Organizational excellence begins with understanding the company purpose, establishing strategic communication between hierarchies by the team leaders.
• This enables the company to reach integrity levels in production and brings flexibility with dynamic adaptive business culture (Priest and Gass, 2017).A responsible leader aims the company to reach organizational excellence with a long term stability.
• Clear vision- A responsible leader helps the company and its employees to work effectively with a clear vision in mind for the purpose company serves its customers for, the production and profit targets and how to reach them. Dynamic leader with powerful vision helps the company to establish an influential position in the industry and reach large levels of customers with satisfied enhanced goodwill. With clear vision of company goals and mission statements leaders are able to get desired results from team members in an effective manner (Rosenbach, 2018 )
• Reaching benchmarks -A responsible leader motivates the team members in reaching the benchmarks in production levels and customer satisfaction set by company where his role to motivate employees serve effectively to work in dynamic business environment. There is improved productivity of the workforce and the ability of employees to work under pressure is also increased.
• Coordination in business operations – A responsible leader in company brings coordination in the business operations by successfully implementation of company goals and directing the team members to work hard for reaching the company goals effectively. An efficient leader fosters great communication among all team members and aids management to work with harmony and ethical code of conduct(Schoemaker, Heaton and Teece, 2018).
• Revolutionary business – A responsible leader helps the company to work in revolutionary business world where dynamic business skills in a company helps to achieve the objectives and goals of company. He encourages the team to mobilize the resources that the company possess towards achieving a common business goal. With the clear business goals leader influences the employees to work with enthusiasm and energy to reach higher quality in products and services.

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CONCLUSION

This report can be concluded with the meaning of leadership, its importance for organizations and the changing perspectives of leadership in economic, social and political scenarios. It concludes the explanation of dynamic factors, flexibility in the role of a leader and how he needs to adopt in changing business world(Yahaya and Ebrahim, 2016).The leader has an

important role to guide the team members towards achieving the targets in production levels. It also concludes the various challenges leaders face in volatile business environment and how he works to effectively influence the subordinates. This report analysed the explanation of various characteristics in a responsible leader in company and how his position has an important significance for the management. It can also be concluded with the importance of demonstrating responsible leadership traits by leaders in companies to enable them work effectively with efficient communication among team members during process

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