Leadership Styles In Business Management – Everything You Need To Know About It
Each leader is unique and they possess different styles of leadership, through which they fulfill their objectives, motivate people, and inspire. So, knowing your own leadership style is crucial for you to manage your business. It will help you deduce the extent of your influence on those who are performing under your immediate influence.
And, for understanding this as well as the thing that your leadership style is working on them or not, you need to invite feedback from your team members. It will confirm whether your leadership style is perfect for your business management or whether you need to change it to your purpose. With it, you can instantly decide, which style of leadership is made for you and your business and accordingly adopt its traits in your day-to-day administrative commitments.
Interested to learn more about leadership styles in business management? Then, here we go…
Leadership Styles In Business Management:
Leadership styles are the methods and behaviors of various leaders while they are directing, motivating, or managing their team members. The leadership style of a person determines the way he/she strategizes his plans and implements them keeping in mind the stakeholders’ expectations and his/her team’s well-being.
Each style of leadership possesses its hitches, enabling you to proactively deal with its area of modification, which is essential because not all employees might speak up unhesitatingly in an incognito survey.
Wanna know about various styles of leadership and your own one? Well! Here are they:
- Democratic/Participative/Facilitative Leadership, where the leader puts up with any decision only with the opinions of his team members. It works for businesses because it resembles the way the leaders usually takes decisions in the board meetings of various companies. This style of leadership is good for managing coworkers because it enables the coworkers of the lower level to practice administration by giving their good and perfect viewpoints as and when required for making crucial decisions.
- Autocratic Leadership, where the leader is authoritarian, dictator, coercive and commanding. This leadership style comes to help in business management when controlling some specific situations becomes necessary. Also, the strategies made by an autocratic leader are well-focused, which results in their better performance. This style of leadership is good for managing coworkers because it gives the employees an obvious sense of direction and makes up for any team member’s lack of experience.
- Laissez-Faire/Delegative/Hands-Off Leadership, where the leader is of the least intrusive type and lets the employees take their decisions. This leadership style comes to help in business management because it makes the coworkers do their best job by offering them incentives. Young people starting their new companies often believes in this leadership style as they think this style of leadership will make their coworkers feel that they’re valued and hence, they do their jobs or takes decisions more sincerely.
- Strategic Leadership style, where the leader possesses vision, adaptability as well as competitive awareness simultaneously and reclines between the major operations of a company and its advancement opportunities.
- Transformational leadership, which is invariably transforming and augmenting upon the company’s practices. In this kind of leadership, the leader continually pushes the employees out of their convenience zone and inspires them to think about everything in new ways in spite of their completion of the basic sets of assignments every week/month. This kind of leader sets a list of expectations as well as completion deadlines for each team member.
- Transactional leadership, where the leader rewards his deserved employees who exhibit dedication and sincerity in their work.
- Coaching/conscious leadership, where the leader’s main focus remains on recognizing and nurturing each team member’s individual strengths and strategies for the ultimate benefit of the company.
- Bureaucratic leadership, where the leader though listens to the employees’ inputs, might reject implementing them if they found that those inputs are in contradiction with the policy and past practices of that company.
- Visionary/affiliative leadership, where the leader only concentrates on the future. He encourages teamwork, emotional intelligence as well as cooperation and formulates an imaginative plan for the creative employees.
- Pacesetting leadership, where the leader sets ambitious standards for his employees, who must surpass the objectives with limited guidance. He likes perfection.
- Situational leadership (proactive type), where the leader sacrifices by changing his own management style if necessary for meeting his team members’ needs.
Which Leadership Style Is Best Of All?
There is no individual leadership style that can be termed as the best one. So, in case your plan is to lead some individuals, you will have to figure out, which leadership style will be best for you as well as your environment.
Ways To Find Out Your Instinctive Style Of Leadership For Managing Your Business:
- Learn the characteristic features of different styles of leadership and correlate your own traits with theirs to find out your instinctive leadership.
- Note down the ways through which you handle specific circumstances or crises.
- Look at others’ styles of leadership in case you realize that your leadership style is not working or you are unable to respond quickly to any important circumstances or events.
- If your personality is that of an extrovert and you have shy team members, do active listening and for the opposite, learn new ways for nurturing, supporting, and motivating your team.
Is It Possible To Change One’s Leadership Style?
Yes, you can change your leadership style by going through the following steps:
- Seeing if your leadership style really needs a change
- Ready yourself for the change
- Think, about how this transition might affect your growing ability in the organization or your life’s other parts.
- Get inquisitive, and start the job of adjusting the path you lead.
Ways To Elect The Perfect Style Of Leadership For You And Your Manipulating The Business:
- First, try to know yourself. Self-discovery is important.
- Outline your values as well as different challenges
- Observe the leaders you respect and presume as your ideal and follow their leadership styles
- Try different leadership styles and then decide which one is the best suiting you and your business
- Find out a perfect business mentor/coach
- Take the feedback of your colleagues, relatives, acquaintances, and other leaders
- Finish an assignment based on leadership style
- Assess various leadership styles and choose the ideal one for you
So, what kind of leader are you? Have you been able to decide what’s your ideal leadership style? If not, then close your eyes and remember the characteristics of the above leadership styles one more time. Now, ask your mind, “which of the above leadership style characteristics matches with mine?” You will get your answer.