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The Essence of Managerial Leadership

The genuine leader is someone who can express a vision and then get people to carry it out, said Jack Welch, the legendary former CEO of General Electric.

Leadership versus Management

Leadership is more than just having the authority of a management or supervisory position. Authority (or position power) gets you compliance. Leadership (or influence power) gets you commitment. "When you influence others to follow, they do so because they like you, admire you, stand in awe of you (referent power). Or because they believe you have special expertise to support their efforts (expert power)."⁷

Establishing a Purpose, Direction, and a Set of Goals

"Regardless of how intensely or frequently knowledge workers might question the direction chosen, it remains the leader's job to define that direction and convey how it supports the fundamental purpose of the unit or organization²".

Emotional Task of the Business Leader

The best leaders have found effective ways to understand and improve the way they handle their own and their followers' emotions. Understanding the powerful role of emotions in the workspace will enable you to achieve better both tangible results such as higher profits and the retention of talents, and intangible ones, such as higher morale, motivation, and commitment.

Integrity

While leadership is always important to corporate performance, there is a growing realization that effective leaders with integrity are absolutely crucial to successfully navigating the New Economy of the 21^st Century. In addition there is also a growing realization that the characteristics of the Leader of the 21^st century are dramatically different than the leader of the past, even the recent past...More

Building Sustainable Competitive Advantage

You must focus your firms resources on what it does best and what creates sustainable competitive advantage. Continuously assess, redefine, and then secure core competencies that your firm must have to compete. The following are three main characteristics of your core competences:

1. They should make a disproportional contribution to stakeholder value

2. They should open the door to other opportunities

3. They should represent such a unique blend of tacit and explicit knowledge that it cannot be copied by others

Case in Point: 25 Lessons from Jack Welch

While boosting productivity and getting results were of paramount importance to Jack Welch, the legendary former CEO of General Electric, how someone got a team to perform mattered more. He looked for managers who he felt had the four E's of leadership⁸:

1. Energy. Leaders with tremendous personal energy.

2. Energize. Those who energize teams, and don't intimidate them.

3. Edge. Someone with a competitive edge and a will to win.

4. Execution. Those leaders who have a track record of getting results.

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