Part one of Advantexe's Making You Indispensable blog series focused on the importance of business acumen. In
part two of the series, we will focus on Business Leadership. Business leadership is defined as understanding how to execute your business strategy through people. Important capabilities of business leadership include setting goals, coaching, leading change, creating an environment of psychological safety, and resolving conflicts in an effective and positive manner that leads to success.
1) Set specific and realistic goals and objectives for your teams and projects
Great business leadership starts with setting specific goals and objectives. The mistake that too many leaders make is that the goals and objectives they set – assuming they actually are doing that – aren’t related to the strategy of the business and the expectations of the business, department, and team.
Goals should be specific, measurable, achievable, realistic, and time-based.
You may already know this, but it is always a great thing to take a moment and review everything including the goals for your top and not-so-top performers. Too many times they are outdated or worse yet, perceived differently by both parties. Take 15 minutes to do this at your next 1:1 with a direct report, the results will surprise you.
2) Provide realistic, practical, and hard coaching and feedback
This is another top that sounds easier than it is. Providing coaching and feedback in an evolved world is extremely difficult and those who have been able to do it well practice it constantly and appreciate it for the art it is.
There are two great coaching models that are in the public domain. One is GROW and the other is the SBI model. They are both very good and all it takes is practice and consistency.
Even the most effective leaders share that it is incredibly hard to do this well and to do it consistently. It takes practice and confidence to do it well. Take 15 minutes after your next dew 1:1’s with direct reports and do an honest audit with yourself to determine what you can do better.
3) Be an effective change leader
Whether you like it or not, every leader in today’s business world is also a change leader by definition. No matter what part of the organization you are in the people you work with are expecting you to be effective change leaders. This skill is critical, and everyone is watching. At Advantexe, we support multiple change leadership frameworks including partnerships with Blanchard on a simulation based on Leading People Through Change and with Dr. Elizabeth Moran on Practical Change Leadership. If you are looking for something immediate that you can start doing today, here are 10 things to think about in support of being an effective change leader.
- Develop a vision and strategy that supports the strategy of the business
- Establish a sense of urgency
- Create the guiding coalition
- Communicate the change vision
- Empower broad-based action
- Measure success in business terms that can be shared and built upon
- Generate short-term wins
- Provide coaching and feedback along the way
- Consolidate gains and produce more change
- Create an environment of psychological safety
4) Create an environment of psychological safety
Psychological safety is a culture in which every employee feels trusted and there is a belief that one will not be punished or humiliated for speaking up with ideas, questions, concerns, or mistakes. Psychological safety in teams means that team members feel respected and included and believe that they can take risks without being shamed by other team members.
In working with many organizations on this topic we have created a simple framework for leaders to follow that includes:
- Predictability – Create an environment that is predictable and stable, where people can thrive in a consistent environment.
- Options – Options are having choices and control. People need options for their environment. Create an environment that provides people with options to explore and learn from. When they make mistakes, help them correct and hopefully they won’t make the same mistakes again.
- Equity – People want to be treated fairly and they want their peers to be treated fairly. Make sure you create an environment that is fair and equitable. That means you can’t play favorites and set unrealistic expectations that have built-in biases.
- Status – People want fair and equitable status. It builds their self-esteem. When people are rejected socially, there is pain and when there is pain, there is poor performance.
- Trust – Trust is the foundation of relationships and teams. You must do everything possible to walk the talk and create an open and trusting environment.
5) Resolve Business Conflicts
The definition of conflict is, a “Competitive or opposing action of incompatibles: antagonistic state or action (as of divergent ideas, interests, or persons)."
Business conflicts can be good because they drive innovation, change, and competitiveness. Unfortunately, most leaders are not equipped to resolve business conflicts. Advantexe has created a simulation-based solution that explores and helps resolve business conflicts through an easy four-step process:
- Explore the Basis of the Business Conflict
- Establish a Common Goal
- Engage Creatively to Problem Solve
- Evaluate Solutions to Achieve Business Objective(s)
- Express Commitment to Execute the Strategy
In summary, the future of your company is going to depend on leaders having the business leadership skills needed to execute the strategy through people. Having them will help you take the strategy of the business and set the right goals, provide the best coaching, lead change, create safe environments, and resolve business conflicts.
