Leaders play a crucial role in the success and growth of a company. They have numerous responsibilities. A GO to bring them together with a ranking of importance and without doubt a basis for discussion
1. Definition and drive of company Strategy : Strategy in Action
Leaders must develop and drive the strategic foundations that include purpose, mission, and values. By defining the company's strategy, leaders can align their teams towards a common goal and set the direction for the organization.
Benefits:
a. Clear direction: A clear strategy helps employees understand the company's direction and their role in achieving it.
b. Employee motivation: When employees understand their company's mission and purpose, they are more likely to be motivated and committed to their work.
c. Increased adaptability: A well-defined strategy enables companies to adapt more effectively to changes in the context, in the market or industry.
2. Mindset & Lead by example
As a leader, one of your most important responsibilities is to lead by example. This means demonstrating the behaviour and values you expect from your team members inlign with the company values. By doing so, you set the standard for your organization and create an environment of trust and respect. A company will always face challenges. A leader has to look optimistically at what is ahead, while not ignoring the challenges that must be overcome.
3. Communicate Strategy and Use It in Decision-Making
Leaders must effectively communicate the company's strategy to their teams and ensure that it guides decision-making at all levels. By doing so, leaders can create a cohesive and focused organization on execution and fosters alignment on destination.
Benefits:
a. Informed decision-making: A study by McKinsey found that organizations where leaders communicate strategy effectively are more likely to make informed decisions, leading to better results.
b. Empowered employees: When employees understand the company's strategy and how it influences decision-making, they feel empowered to take ownership of their work and contribute to the organization's success.
c. Alignment across the organization: Clear communication of the strategy helps align all departments and teams towards a common goal, ensuring that everyone is working towards the same objectives.
4. Develop Company Capabilities to Execute Strategy
Leaders must identify and develop the capabilities required for their organization to execute the strategy effectively. This may involve investing in employee training, technology, or other resources to create a framework for successful execution.
Benefits:
a. Increased competitiveness: companies with strong capabilities are more likely to outperform their competitors in terms of revenue and market share.
b. Enhanced innovation: By developing the capabilities needed to execute strategy, companies are better positioned to innovate and adapt to new challenges in the market.
5. Show Empathy and Deliver on Promises
As a leader, it is essential to demonstrate empathy towards your team members and deliver on the promises you make. By showing genuine concern for the well-being and growth of your employees and following through on commitments, leaders fosters trust within their teams. The most important benefit of trust is it that people like to work together and fosters the quote ‘teamwork = dreamwork’.
6. Eliminate Roadblocks that Hinder Execution of Strategy
Leaders must identify and eliminate roadblocks that hinder the execution of the company's strategy. This may involves organizational inefficiencies, removing bureaucratic obstacles, or empowering team members to solve problems autonomously.
Benefits:
a. Accelerated progress towards reaching milestones and ambitions
b. Improved problem-solving: Fosters a problem-solving culture within the organization. This encourages teammembers to think critically and creatively, ultimately leading to better results.
c. Enhanced agility: Eliminating roadblocks allows organizations to be more agile and responsive to changes in the market or industry, helping them stay ahead of competitors and adapt to new challenges.
7. Leaders bring extra’s to the table
While the responsibilities outlined in the previous sections are certainly crucial , leaders bring often something extra (1 or more that they excel in) to the table that can contribute to team's success. Examples to me are:
- Talent Management: build and develop the team that is needed to reach the intended outcome
- Performance Management: establish clear performance expectations, provide regular feedback, and hold employees accountable for their results. This includes recognizing and rewarding high-performing employees and addressing underperformance when necessary.
- Financial Management: understanding of their organization's financial health and make informed decisions to ensure its long-term viability. This includes budgeting, forecasting, and monitoring key financial indicators.
- Innovation and Change Management: foster a culture of innovation and be open to change but they need to be decisive.
- Crisis Management: prepares to navigate and lead from the front their organization through crises, whether internal or external. This involves developing contingency plans, effectively communicating with stakeholders, and making tough decisions to protect the organization's interests.
- Stakeholder Engagement: build and maintain strong relationships with various stakeholders, including employees, customers, suppliers, investors, and regulators. By effectively engaging with stakeholders, leaders can gather valuable insights, anticipate potential challenges, and make better-informed decisions.
- Ethical Leadership: act with integrity and make decisions that align with the organization's values and ethical standards and are aligned with their personal values. Then this wil be authentic.
The responsibilities of leaders in a company are multifaceted and complex. By leading by example, defining strategy, communicating strategy, developing capabilities to execute strategy, and eliminating roadblocks, leaders can significantly impact their organization's success. The benefits of these responsibilities are numerous, including increased employee engagement, motivation, adaptability, competitiveness, innovation, and agility. By fulfilling these critical responsibilities, leaders can create an environment in which their teams can thrive and their organizations can achieve sustainable growth.
