Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Leaders Need To Always Reinvent

A good leader should always look beyond the obvious and make room for opportunities which lead to growth and innovation

Photo Credit :

1475663865_zjA9P8_leadership-shutterstock.jpg

The young managers have a crucial role to play in the highly competitive contemporary business world. The challenges of globalisation and uncertainty have introduced new dimensions that can be overcome only through dynamic and strategic interventions. It has become imperative for a business leader to change with the constantly changing business environment. The imperative for reinvention seems to arise most often since companies need to expand beyond their core businesses.

To overcome the unpleasant reality of failure in the business world, leaders are compelled to change the design and strategy of their business process. Change management becomes the key to success. Reinventing no longer implies only improving business efficiency and business operations. It is interlinked with the overall business framework, an essential leadership requirement that defines the emerging role of a leader.

Leadership is not limited to overseeing business activities and overcoming critical situations. It is also about being able to foresee the unexpected. A good leader should always look beyond the obvious and make room for opportunities which lead to growth and innovation. No leader can survive without refurbishing their business activities, but when to adopt the change management is a difficult decision to make. Changing the entire business structure leads to success but also involves the risk of failure. A leader’s decision to reinvent will affect his employees, customers as well as other stakeholders who may or may not endorse it. Change is difficult to adapt but not changing can be detrimental to the growth of young leaders in an organisation. To sustain in an extremely evolving market, it is important to revamp organisational strategies. What defines a leader is how he carries the business and the employees working under him in a competitive marketplace. If he is not willing to move out of his comfort zone, he may also lose impact and influence on the business as well as his subordinates.

The best leaders are always on the lookout for new ideas. No matter how much we assure ourselves of our preparedness, we can never be prepared enough. In the past few years we have seen the market changing rapidly, from traditional to digital. Leaders have to keep up and evolve with the changing technology. One needs to just look at online learning platforms such as Coursera, Lynda.com, etc. They have completely transformed the education environment by giving people access to easy and fast learning. Mark Zuckerberg, one of the youngest successful business leaders, completely revamped the importance of social media with his business idea. Today billions of people in the world use Facebook not only to connect with each other but also to promote their business and network. It’s people like him who inspire young leaders to think out of the box and emerge as a successful leader.

A leader has to change his attitude and approach to stimulate faster growth and keep abreast with the changing technology. Reinvention is a process but in the long term it will help anticipate the future risks and overcome the roadblocks to success. As companies continue to evolve with the new technology, it has become inevitable for leaders to stay ahead of others by reinventing themselves continuously.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Dr. A K Rath

The author is dean, MDP and Executive Education, IMI Delhi

More From The Author >>