Business leaders are under pressure to be more transparent than at any time in history. This pressure comes from shareholders, board members, employees and communities. This level of transparency can be regarded as a hindrance or as a matter of business responsibility. Inevitably, leaders who address it as the ladder are the ones that develop sustainable relationships.
Sustainable relationships touch every aspect of the enterprise, including availability of credit, networking and innovative collaborations that enable businesses to capitalize on the many opportunities provided by the global marketplace.
Sound philosophical principles are respected by all interested and engaged parties. This mandates than new–age business leaders be held to a higher standards than leaders of any previous generation. This means that today’s political and economic leaders must be willing to adapt to unprecedented levels of engagement.
Internal And External Benefits
The development of a reliable, defined leadership agenda has many internal and external benefits. This explains why today’s business leaders are more visible, more high-profile than business leaders of previous generations.
However, this visibility is not only reserved for leaders of big corporations. For every Jamie Dimon or Matt Damon, there is a SME leader upon whose shoulders the fate of his or her business ad his or her employees rests. And, then there are the ingenious entrepreneurs who are fast learning that leadership skills are as important as the ingenuity and revolutionary products.
It is one thing to invent an innovative product. It is quite another thing to lead an enterprise that can exist and compete successfully in the rugged global market. Modern leaders must aspire to lead and motivate people. This calls for transformation of the corporate culture.
AIG Has Reversed Poor Transparency Policy
Even the boards of small businesses demand transparency. AIG and JP Morgan are two examples of what can happen when there is a lack of transparency in leadership. When AIG’s new CEO took control after a failed administration, the first goal was to transform the corporate ideology into a completely transparent platform. It has worked.
For leadership to succeed, employees just have a model whereby they can connect with their expectations. This does not mean they will always succeed or succeed as rapidly as they would like but this does mean that the culture must present an environment that is transparent and where interaction is available. Sometimes this means subtle changes and sometimes it means dramatic changes. 21st century leaders makes these assessments and implement whatever training is necessary to make the transformation.