Appropriate application of leadership and managerial skills is a core component of effective leadership that yields the success of contemporary Multinational Corporations (MNCs). Effective leaders possess critical elements in common; they can delegate duties and responsibilities, are confident, have excellent communication skills, are creative, and are honest (Hackman & Johnson, 2013). The leaders should be in a position to lead followers to achieve the organization’s formulated vision, mission, and objectives. The assigning of duties should be based on the right abilities and effective for effective and timely operations.
Leaders should be confident and strong. In this line, they are expected to display both positive and assertive demeanor during crises and good periods (Hackman & Johnson, 2013). The process will motivate workers hence creating a positive work atmosphere. A high level of honesty develops a sense of trust among the stakeholders. Developing trust among employees reduces low worker turnover, increasing productivity and efficiency. Therefore, improved communication and high workers’ morale increase corporate creativity.
Excellent communication skills are crucial in problem-solving and decision-making processes. The management should encourage the workers to air their views and opinions freely (Adair, 2018). The absence of open communication among the corporate stakeholders yields withholding data with detrimental impacts such as a lack of innovativeness and poor service delivery. It is worth noting that active listening, both non-verbal and verbal, facilitate the development of an open and stronger bond between the leader and the followers (Hackman and Johnson, 2014). Therefore, effective leaders should develop stringent bonds and network relations with their followers to understand their thoughts, abilities, and beliefs.
Managerial and leadership skills are the abilities and talents for an enterprise’s effective and efficient productivity. The skills include challenging (quantitative, technical, presentation, project management, analytical, and finance skills, among other abilities) and soft skills such as time management and empathy. Managerial and leadership skills are vital in creating a positive workplace where employees gain satisfaction and develop a sense of responsibility, increasing productivity and efficiency (Hackman & Johnson, 2013). Indeed, the skills significantly impact problem-solving abilities, personal creativity, and teamwork, creating a conducive work environment. Good leadership qualities entail; high moral standards, great organizational abilities, nurturing growth and development among workers, efficient learners, high critical skills, and fostering unity and a sense of belonging, among others.
Effective leaders possess entrepreneurial characteristics and skills (Verma, 2016). Such leaders are flexible, humble, focused, have great vision, are owners of corporate success, possess positivity in their deeds, and have paranoid confidence (Adair, 2018). They balance issues of paranoia and successful missions. In this regard, influential leaders apply various leadership styles, such as transformative leadership intertwined with democratic leadership and management techniques (Gordon, 2017). Under such leadership, all the stakeholders, including workers, are a significant element of the decision-making process. In this regard, the varied cadres of workers are given participatory roles in the corporate formulation and implementation of core decisions. The employees and other stakeholders are encouraged to air their views and ideas and participate in decision-making activities (Vaynerchuk, 2018).
Application of appropriate leadership skills such as quantitative, technical, presentation, project management, analytical, and finance, among other abilities, contribute to a rise in productivity and full engagement of all corporate players; management, workers, suppliers, and customers (Gordon, 2017). The abilities mentioned above are vital in enhancing workers’ creativity and efficiency, yielding high-quality products and services. Therefore, the top management is significant in the formulation of final decisions. Indeed, effective leaders are vital components of good business practices. Leadership skills aid in improving organizational productivity and efficiency. Therefore, leadership is a significant psychological concept that leaders should understand to influence others to change into effective leaders themselves.
Effective interpersonal skills lead to the effective utilization of team diversification in business administration. Actually, group diversification promotes innovativeness (Hackman & Johnson, 2013). In this regard, a diverse group can accommodate a varied set of activities. The existence of varied skills in a group acts as an inspiration for extra creativity hence innovativeness. Indeed, creativity arises due to the application of varied methods of solving challenges (Islam, Jasimuddin & Hasan, 2015). Therefore developing diversity in teamwork presents new perspectives that act as a base for creativity and effectiveness in solving issues arising from critical incidents. Team diversification leads to reduced conflicts hence overall innovativeness.
The ability to lead others is a great talent. For a firm to expand, there is a need for robust personal, organizational and market-oriented leadership. A good leader can integrate entrepreneurship nuances and leadership concepts dynamism. Therefore survival of an enterprise is based on effective leadership characteristics such as encouraging entrepreneurial skills in other people, availing appropriate interpretation of available opportunities, understanding and questioning the prevailing business logic, reviewing relevant managerial concepts, and amicably relating entrepreneurship with other aspects of management, including strategic management. Overall, leadership and managerial qualities such as humility, flexibility, trustworthiness, acumen team leader, and a sense of team motivation make effective corporate leadership.
Adair, J. (2018). Strategic leadership: How to think and plan strategically and provide direction. Kegan Page Publishers. Education Limited
Gordon, J. (2017). The power of positive leadership. John Willey & Sons, Incorporated.
Hackman, M, Z. & Johnson, E, C. (2013). (6th end). Leadership; A communication perspective. Long Grove, Illinois, Waveland Press
Islam, MZ. Jasimuddin, SM. & Hasan, I. (2015). Organizational culture, structure, technology infrastructure and knowledge sharing: Empirical evidence from MNCs based in Malaysia. Vine, 45(1), pp.67-88
Vaynerchuk, G. (2018). Crushing it! How great entrepreneurs build their business and influence-and how you can too. Haperbusines. Https//www.harpercollins.com>crushing.
Verma, R., Cathy, A. E., KImes, S. E., Walsh, K., & Judy, A. S. (2016). Achieving success through service innovation. Business expert press.