What does it take to become a successful leader in today's business Research Paper

What does it take to become a successful leader in today's business world - Research Paper Example An essential requirement for the business leader of today is to clearly understand major societal and environmental forces that shape business. Central in creation of value is knowing where and how to respond to societal demands in terms of the daily running of business. This calls for s strong sense of vision and emotional intelligence. The core of leadership in business still remains; leaders should be able to motivate employees, inspire and foster the spirit of teamwork among the people they lead so as to achieve common business goals. But the business environment has undergone tremendous changes in the past few decades presenting new management challenges to the business of today. They have to work in an environment with more challenges and expectations while leading teams in accomplishing the set business objectives. The implication of all these is that the modern business requires more than managers; people who can lead by vision and create the working environment in which the common vision is shared by everyone one involved. With the evolving purpose of the business leadership role, modern leaders must approach their work with a different perspective, lead change across & beyond the boundaries of business and effectively work in collaboration with relevant stakeholders in achieving the missions (Gitsham and W ackrill, 2012). A leader in the modern business world must keep up with developments in technology. Technological trends especially in business are evolving at the speed of lightning and this renders even a management tool that rocked the business world just in the past few years completely obsolete. Some leaders may face great challenges but keeping the pace would mean taking advantage of technological tools to the competitive benefit of the firm. The leader should be capable of utilizing tools such as social media and at the same time an environment in the firm where technology