Business leadership is essential for those responsible for a team, regardless of the size or industry. It is up to a manager not only to provide direction for the team, but they must also support them in order to achieve results.
Though some managers learn on the job, coming up through the ranks of a team themselves, all future business leaders may benefit from a specialized course of study. The Northern Kentucky University (NKU) online Master of Business Administration (MBA) program prepares students for impactful leadership roles. Understanding different ways to lead will facilitate success regardless of work circumstances, personalities, organizations and team structures.
Why Is Leadership Important in Business
Like a host sets the tone for a party, a manager sets the tone for a team. Of course, managers carry a great deal of responsibility for their employees’ well-being and efficacy as well as for the company’s success. This is why proper leadership training is essential.
According to Forbes, “Effective management of any size team requires a specific set of skills that go well beyond the skills you might have developed as an individual contributor in an organization.” The article goes on to explain, “More than evaluating employees and meeting project deadlines, your job as a manager is to motivate employees to do their best work and inspire them to get invested in the company’s success. Understanding and adapting your management styles is key to effective leadership.”
Not only is a solid grasp of leadership styles important, but so are flexibility, active listening and empathy for other perspectives. Approaching a team openly and aiming to inspire unites everyone towards a common goal.
Types of Leadership Styles
As Forbes explains, “A management style is the way you work to achieve the goals of a project, team or company. It includes how you interact with the team members you oversee and other stakeholders, plan projects, delegate work, set and measure goals, and make decisions for the project and team.”
There is a technical approach to these leadership styles and commonly used approaches, but there is also room for business leaders to experiment, combine and find their own way. Different projects may require an adjustment, as will other team members.
Indeed offers suggestions of common leadership styles, as well as how to discover yours. The most common types include autocratic, bureaucratic, coaching, democratic, laissez-faire, pacesetting, servant and visionary.
Some of these are combinations of others. Democratic style, for example, combines attributes from laissez-faire and autocratic styles. Democratic leaders value the input of their teams and ask for it regularly to help them feel invested in leadership decisions, too.
On the other hand, laissez-faire is a more trusting style that allows team members the autonomy to pursue projects without much interference. Coaching is much more hands-on, managers and employees work together to set goals and track them, hoping for overall improvements and upskilling.
Discover Your Leadership Style With NKU MBA Online
If you aren’t sure yet what kind of leader you are, have no fear. It is not an all-or-nothing decision; leadership styles can evolve over time and certainly must suit the team dynamics and projects at hand.
Harvard gives tips to leaders seeking to understand what management style suits them, which is a good place to start. However, most managers will learn on the job and continue sharpening those skills over many years. There are no universal solutions when it comes to leadership styles.
For a solid footing in the world of business leadership, future leaders can look to programs like NKU’s online MBA program. An MBA aims to create a well-rounded leader who can react to the various challenges posed by the business world. This, of course, includes becoming an effective leader who can set goals, inspire, support and achieve results.
Learn more about NKU’s online MBA program.
