The Importance of a Dynamic Leader in the Current Marketplace

on February 8 | in Leadership | by | with Comments Off on The Importance of a Dynamic Leader in the Current Marketplace

The 21stcentury has produced a marketplace that is truly dynamic. Businesses collapse and are made in days entrepreneurial freedom has reached new heights. In such an enigmatic market environment, having the right leader can make or break a business. Dynamic leaders are ones who are fluid, proactive and most of all, think out of the box.

What Qualities Does a Dynamic Leader Embody?

A domineering boss who looks down on others is very 1950s whereas the friendly, buddy boss is extremely 1990s. Both leadership styles don’t produce as many results as a dynamic leader does in the 21stcentury. When viewed in this light, it might appear that the 21stleader is a mythical creature, but one will embody the following qualities:

  • Adaptability – With a marketplace that is constantly changing leaders need to know how to embrace this change as well as gauge when it is about to happen. This can secure consistent growth for the company.
  • People Skills – Leadership styles that are domineering or tyrannical doesn’t work anymore, particularly with the outspoken Gen Z and Gen Y. They’re more likely to walk away from a leader they don’t believe in. People skills are necessary to forge employee loyalty and reduce the turnover rate of a business.
  • Fostering Innovation – Leaders are expected to create an environment where creativity and innovation can flourish. Businesses like Google, Microsoft, and Apple not only have an environment that fosters innovation and creates future industry leaders as well.
  • Self-Awareness – A true leader of the 21stcentury understands their short comings and works on improving them. Instead of holding others down with them, the leader creates paths and channels for self-improvement for everyone involved.

While these qualities might appear minor, when applied to a leadership position, they can make an extremely large impact.

Why is a Dynamic Leader Important?

A leader is needed for any business to meet its goals. However, the current marketplace is one where without a dynamic leader, they business can easily flounder. The following are a few reasons why dynamic leadership is becoming a necessity:

  • More Accountability – More leaders are being held accountable for their contributions to a business. As work cultures are fixing on the individuality of the employee, the individuality of the leader comes to light as well, including their shortcomings.
  • Bigger Risks – Businesses are more likely to face class action lawsuits for the mistakes of their leaders. D&O insurance, also known as Directors and Executive insurance is becoming a necessity for most businesses. With a dynamic leader, the risks associated can be lessened to a degree.
  • Steep Competition – As the marketplace becomes increasingly saturated, differentiating factors among businesses are harder to highlight. With dynamic leadership, this problem can be countered with ease.

The new role of leadership is to inspire and lead by example. A good example of a dynamic leader was Steve Jobs. He not only contributed to the growth of Apple; he was also not afraid to mentor and coach others to one day take the position he currently occupied.

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