In another study by Westminster College, it was found that boosting morale is the top (32%) motivational technique employees prefer. If employees are not motivated, the company can be negatively affected (financially) with absenteeism, attrition and low productivity.

Leading a business is unquestionably challenging. To be successful, a leader must make a lot of difficult decisions, often under pressure. Research by the Brandon Hall Group shows that critical thinking is the most important skill required of leaders to successfully lead an organization.

A conflict is considered to be any issue between two or more individuals that can potentially disrupt work. Conflict in business may go beyond the workplace as it can involve customers, suppliers and even competitors.

IMD complies with applicable laws and regulations, including with respect to international sanctions that may be imposed on individuals and countries. This policy applies to all applications for IMD programs from individuals or organizations, and any commercial or non-commercial partnerships.

If your team is highly engaged and happy in the workplace, you are likely to be well respected as a leader with employees who love what they do, and hopefully the strong relationships you cultivate will help your team perform at their highest level.

When a conflict arises, an effective leader should be able to jump in and resolve or at least mitigate the conflict before it affects the business negatively. When properly dealt with, a conflict may even turn out to be positive for your organization, as it can often lead to stronger bonds or new ideas.

Some of the world’s largest companies hunt for people with well-honed leadership skills to fill their most sought after executive positions.

RedElectricalTapewalmart

In a study done by the firm Interact on 10,000 employees in the US which cited that the number 1 complaint (63%) from employees concerning their managers is lack of appreciation, and, conversely, when managers appreciate their contribution, their engagement increases by 60%.

Frame, explore, decide, or FrED, for short. For most complex problems, your understanding of the problem changes as you progress through the analysis. The three steps aren’t so much a linear sequence as they are elements of an iterative loop. Do not hesitate to revise previous conclusions as new evidence surfaces.

Effective leadership skills are crucial, both in a professional and personal capacity and are vital in facilitating effective team dynamics, driving success, managing change, and promoting personal and professional development.

Leaders with strong, trusting and authentic relationships with their teams know that investing time in building these bonds makes them more effective as a leader, and creates a foundation for success.

Innovation in leadership is of utmost importance for every company. Successful innovation begins with ideation — the phase where outstanding ideas are developed and become the foundation of innovation success.

Remember, some decisions may not always be favorable. Making an unpopular but necessary decision is probably one of the most difficult tasks as a leader, but it is vital that as a leader you are able to recognize your responsibilities and make clear decisions for your team or organization.

So even if you think you don’t need to be loved in the workplace, you will definitely need to be skilled in building good relationships in order to be an effective leader.

Motivated employees are much more engaged, they are also more self-confident in what they do, and can do. This leads them to know how to react in difficult situations and develop innovative ideas that could help optimize business performance.

Leaders need to contend with a hyper-competitive business environment, geo-politics, climate change, the changes advanced by the COVID-19 pandemic and many more factors, all of which require leaders to adapt and develop agility.

Discover the 2024 edition. With extensive coverage of 67 global economies. In 2024, three new economies were added: Ghana, Nigeria and Puerto Rico.

The IMD International Alumni Association is the official home to a global network of extraordinary leaders who share ideas and shape the future for a more sustainable, prosperous, and inclusive world.

Negotiation is a process where two parties with different ideals get together and mutually agree on what an outcome should be. According to Skills You Need, the process of negotiation involves 6 stages:

White ElectricalTape

In most cases, one solution isn’t consistently superior to all others on all attributes. To make your decision, answer your question, “How should I solve my problem?” Surface the trade-offs for each solution, identifying what you are ready to give away that you value so that you can get a little more of something else that you value even more.

In a study conducted by Development Dimensions International in 2008, one of the most important leadership qualities, was the ability to facilitate change. Fast-forward to 2024, adaptability is  one of the most important leadership skills.

RedElectrical CautionTape

Anyone can be placed in a leadership role, but to be good and thrive in that position requires solid leadership skills. Leadership skills are typically at the top of the list of competencies that recruiters focus on when hiring, or when managers are promoted from within an organization.

Critical thinking is the ability to think clearly, whilst building a logical connection between different ideas. Critical thinkers are often intelligent decision makers, highly analytical and generally always rational. Critical thinking is a learned skill, and generally involves three steps:

Good negotiations can be beneficial to an organization because they will build better relationships, both internally and externally. They will also help find the best long-term solution by getting the most out of two different sides. An effective leader must be well versed in his negotiation style to move an organization forward.

This plan should contain an achievable timeline, allowing you to constantly check your progress on how well you are adapting to the change and how you are exemplifying this to your team.

To be effective as a leader, you must be good at identifying conflict, and have foresight on how to resolve it. It is also essential to be rational when faced with confrontation. Conflict management is no doubt one of the most important leadership competencies but Robyn Short cited a study that found 60% of U.S. employees have not received any conflict management skills training.

ElectricalTapeBlue

Good working relationships increase employee engagement and according to Gallup’s meta-analysis of employee engagement, business units with good employee engagement have 41% fewer quality defects and 37% less absenteeism. A 21% increase in productivity was also seen to result from higher employee engagement.

Effective leaders must be able to adapt to both internal, and external changes – even if that means working outside of your comfort zone. As a leader you need to develop a lifelong learning mentality to ensure that you are not left behind by shifts in your industry, and can give your business the competitive edge. This is where as a leader you need to be agile and adaptable, which is easier said than done.

One key way to develop leadership agility and adaptability is to be accountable and assume your responsibilities, making sure that you have laid out a plan on how you should respond to change.

Typically,  critical thinkers will rigorously question ideas and assumptions, they will always seek to determine whether the ideas, arguments and findings represent the true picture and are commonly able to recognize inconsistencies and errors in reasoning to achieve the desired outcome.

As a leader, it is important that you are able to manage conflict, but developing these same skills in your team can help avoid conflict altogether.

According to the American Management Association, managers spend at least 24% of their time managing conflict. Conflict can happen in any area of business.

RedElectricalTapehome depot

A leader is tasked with making decisions all the time. To be an effective leader, those decision making skills need to be top notch. Critical decisions affecting your organization on a large scale need to be sound, rational and solid.

The increasing demand for creativity and innovation will continue to be a driving force for executives, as  who must harness their leadership skills in these areas to be effective and competitive.

In reality, your decisions as a leader will determine your – and potentially your organization’s – success. Making decisions, however big or small, are a fundamental part of Leadership, as a leader you need to develop strong decision-making skills and have the conviction to stand by your decisions, whilst also recognizing the need to adapt when those decisions do not lead to the desired outcome. It is a unique balancing act.

As a leader, negotiation is used to understand the interests of your employees and to find ways of satisfying those interests, in order to achieve organizational goals.

Some leaders will say they that they do not need to be loved in the workplace to succeed. This may be true, but to build a cohesive and more engaged team, great managers need the leadership skills to forge strong working relationships with their employees.

Steve Jobs, and perhaps even more so Tim Cook led the innovation and creativity for Apple Inc. by continuously forging ahead of the competition, and this probably made them some of the most innovative leaders within the tech industry.

IMD complies with applicable laws and regulations, including with respect to international sanctions that may be imposed on individuals and countries. This policy applies to all applications for IMD programs from individuals or organizations, and any commercial or non-commercial partnerships.

Do not rely on intuition. No matter how much faith you have in your own judgment, if you rely strictly on your instincts you will miss the opportunity to see things from an alternative perspective. Instead, explore potential solutions. That is, ask yourself “How may I solve my problem?” It is equally important to explore what matters to you; that is, the various attributes of a solution that would make it more attractive to you.

In close connection with relationship building, the ability to motivate your workforce is as important as keeping employee engagement high. One of the most effective leadership skills is knowing how to continuously motivate employees, which requires leaders to be connected to their teams and attentive to what is going on around them.

RedElectricalTapenear me

Complex problems are rarely what they appear to be on first look. To better understand what you are dealing with, frame the problem by asking yourself “What is my problem?” Hint: you can safely assume that whatever you think your problem is right now probably isn’t your actual problem.

© 2006-2024 IMD - International Institute for Management Development IMD complies with applicable laws and regulations, including with respect to international sanctions that may be imposed on individuals and countries. This policy applies to all applications for IMD programs from individuals or organizations, and any commercial or non-commercial partnerships.

Consider some of the industry leaders, what did it take for Apple to become a leader technology industry? They made innovations to products with their customers in mind.