Effective leadership is at the core of any successful business. A good leader knows how to motivate his employees and listen to their needs. He also has the skills required for managerial activities. The best leaders will approach each new project thoughtfully, see the lighter side of things when times are tough, and help others reach their career goals.
From situational leadership to transactional leadership, there are various ways to run a business. An experienced manager or CEO should be able to choose the right approach for the situation. Studies indicate that successful business owners combine two or more leadership styles. The goals and culture of an organization determine which one works best.
Here are the most popular leadership styles and their unique characteristics:
Autocratic Leadership
Managers who adopt this leadership style make decisions on their own. They rarely consult their team members, which can be useful in emergency situations that require immediate action. However, autocratic leadership rarely works in a democratic organization.
