Traits of Strategic Leadership.

Today we will introduce you 6 essential Traits of Strategic Leadership.

A famous banker once said that

Great fortune is made not when violins are playing in the ballrooms,
but when cannonballs are falling in the harbor

In short, great opportunities lie in the most unpredictable environments. But, to take advantage of
those opportunities, a company needs The right Strategic Leadership.

The Ability to Anticipate

First attribute from Traits of Strategic Leadership is The ability to anticipate or foresight
is a quality that is sorely lacking in many of today’s companies.
Business leaders simply do not have what it takes to recognize the opportunities that
lay on the periphery of a business niche. In contrast, a strategic leader is always
vigilant in anticipating what’s over the horizon. They do this by honing their
ability to scan the market for signs of future change.

So, how is a strategic leader able to do that? If only there was a crystal ball
that you could gaze into to find the answer. Sadly, there’s not. But, a successful
strategic leader knows the importance of taking their customer on board when it comes
to gaining insights. This also includes developing a broader network that is made up
of end customers, investors, suppliers, and even the competition to garner insights on areas
that are within and outside the company’s core business. Strategic leadership involves creating market simulations and carrying out comprehensive market research to gain valuable insights into the challenges and opportunities that lie ahead.

Courage

Important attribute concerning Traits of Strategic Leadership is Courage
The best leaders are those that have a refined set of traits that differentiate them from their peers.
While there are many principles that make up a good strategic leader, at the top
of the list is always courage. What makes courage the most important trait of
any strategic leader is that it’s a choice.

The best strategic leaders in the world choose to be out front and are constantly making bold decisions.
While having courage does not mean having no fear of consequences of one’s actions,
it does mean knowing the importance of leading from the front and keeping everyone
motivated towards a single goal.

Maintaining Customer Centric Business Processes

Those businesses that do not prepare for the unexpected are usually left scrambling to ensure
their customer’s needs are met. This can be easier said than done. But, wise leaders
know the importance of adapting to new technologies and new working environments quickly,
which is key to getting closer to a customer centric business model.

Strategic leaders know all too well the importance of listening to their customer’s wants and needs
before identifying new ways to deliver their products and services. This is a balancing act that requires patience and the ability to make difficult decisions on the fly in order to gain market share.
To be an effective strategic leader, you need to identify key internal and external stakeholders
and pinpoint any misalignment of interests.

Learn From the Past

While decisive decision making has been a crucial part of being a leader, the best strategic leader is always going to have his sights set on what comes next. This means making decisions that come along with long term implications for the organization.

This can only be achieved when business leaders review lessons they have learned along the way, follow tangible metrics, and tweak business processes accordingly to be prepared for whatever comes next.

The strategic leader of the future will have to do a better job of communicating the value their service provides to customers and shareholders. The trick will be to lead the conversation regarding these crucial business matters instead of merely waiting to respond to the queries of disgruntled or afraid customers and stakeholders.

Distribute Responsibility

While it can be very tempting to wear many hats while playing a leadership role, effective leaders
know the importance of pushing power downwards within their organization. This means
empowering people at all levels of the company by allowing them to make decisions.
Distributing responsibility is also a great way for organizations to identify potential
strategic leaders and see the impact of the decisions they make.

Furthermore, by distributing responsibility, companies can efficiently increase the collective intelligence and adaptability of their workforce, which is something that would not be possible if you were making all the decisions. While letting go of the reigns will be difficult for some companies that are used to the
traditional decision-making hierarchy, it will make a big difference in building strategic leadership
at the ground level of an organization.

That being said, businesses are still going to need a small central management team to
oversee the operations and advise management and those that are tasked with making
particular decisions at lower tiers of the organization.

Make Your Employees Feel Safe

Last quality about Traits of Strategic Leadership. While failure is the last thing on one’s mind
when it comes to running a business, it is crucial for strategic leaders to create an
environment where employees feel safe after they’ve made an error. While there are many organizations that use espoused values that encourage employees to fail fast, every failure is soon
followed by the dreaded phone call from the management. This means those
who make errors or fail in them tasks are punished by not getting
rewards or being promoted.

It is up to the strategic leader to enshrine an acceptance of making errors.
More importantly, everyone in an organization needs to learn how to manage
the failure that’s associated with making uncertain decisions and how some
types of failures can turn into successes? To make employees feel safe if
they made an error, reward those who tried something laudable but failed
in terms of an outcome.

A strategic leader is the focal point of organizational learning. It is the strategic leader
that helps promote a culture of inquiry, studies failures, and searches for successful outcomes.
It’s essential to understand that strategic leadership is not just some tool that is used
for organizing or managing the operations of an organization. At its core,
strategic leadership is about creating a business structure that is better
equipped to achieve the goals of an organization.

You can also check: https://sloanreview.mit.edu/article/investing-in-strategic-leadership/
Check our Agile Article: https://sustain-leadership.com/building-an-agile-culture-the-new-norm/