Business leadership involves setting the pace and direction of an organisation, attracting the right people to develop the business and inspiring people at all levels of the business to greater achievements.
A successful business leader is self-aware and able to use and exploit their own strengths. But that self awareness also means he or she will know they do not always have all the answers - but they do know how to surround themselves with the right people to get those answers.
Developing business leadership skills
ILM believes that the skill of business leadership is one that grows and develops. To be a business leader undoubtledly requires innate abilities including talent and passion, but many of the other qualities needed to build and maintain a successful business can be acquired, either through direct experience or through more formal learning.
We believe a combination of the two gives business leaders the ideal combination of real world understanding and reflective ability that reveals the big picture. Through guided learning a leader can take their experience and direct it for business success.
What’s different about business leadership?
Organisations need leaders at all levels, but a business leader goes one step further and sets an organisation’s stategy and culture. Furthermore, through their example, others in the organisation see what is possible and how they can achieve it.
Key characteristics
Business leaders must be their own person. This means they are honest, direct and consistent and this creates trust in them throughout the business.
Business leaders must have judgement. To create or run a business you must be able to see beyond the way things work now to how they might work in future, but balance this with a realistic view of the way the world works.
A business leader must be able to step back. This is a vital characteristic, allowing the leader to take a step back from the day to day of the business, to evaluate and reassess the marketplace and strategy.
A business leader must be passionate. This passion is what makes others enthusiastic to follow and what turns individuals’ efforts into a true co-ordinated whole.
Key skills
Business leaders also need real world skills to translate vision into action. They need to have skills in these areas:
Planning
- Build and improve business processes
- Plan and recruit the organisation’s workforce
- Design knowledge management procedures across the organisation
- Obtain finance for the organisation
Strategy
- Develop business plans and set organisational direction
- Deploy resources to achieve stratetic goals
- Build commitment to corporate vision and values
Policy and procedure
- Establish policies and procedures
- Introduce, lead and manage change
Staff development
- Act as a coach to the senior management, improving their performance and skills
Leadership and management study
ILM's courses develop and support leaders and managers, from those just starting out to those with years of experience. We believe all individuals can become better leaders and managers through development and training.