How next-gen leaders carry legacy with new-age strategies in MSMEs
Any corporation that is anticipating the rate of change to slow down after the new-age developments would be disappointed. In today’s fast-paced industry, organisations and communities are working in commercial and social environments characterised by constant innovations, disruptions, climate change, value system transformations, pandemics, and unstable economic conditions. Businesses that refuse to change run the risk of becoming out of touch with today’s market and unable to compete.
Change happens swiftly in the corporate sector as well, and you must embrace it to be competitive. New-age leaders are making important contributions to the efficiency of company processes by applying their knowledge of the new world and implementing innovations in MSMEs.
Added to this is the visibility and democratisation of information and activities of all people as a result of digital and social media platforms. This has created a plethora of complications and equal chances in every area and at every level of the organisation and society. Adaptable and consistent organisations can gain a large increase in market share, revenue, and long-term viability and sustainability. While most companies concentrate their branding efforts on marketing, platform, and brand collateral, many companies miss one of the most essential drivers of their brand—their new-age leaders’ leadership.
New-age leadership and new-age leaders
New-age leadership and new-age leaders are terms that are used interchangeably. A leader is someone who takes the initiative in addressing a problem, finding and creating an opportunity, or taking on complex problems. New-age leadership is about managing change, taking initiative, and being selfless when carrying out a task. New-age leadership is also about bringing people together, forming cohesive teams, and communicating effectively.
It's about empathy and providing companionship to the aged. It's about assisting with environmental conservation, collaboration, and future co-creation. It’s also about adding value to oneself and the society, as well as making a tiny impact in their sphere of influence. Not only that, but it’s also about returning time and time again until the goal is met, while maintaining a never-say-die mentality. New-age leaders and leadership approaches are defined by these timeless truths.
Here's how new-age leaders are carrying on the tradition while incorporating new techniques into MSMEs.
Put a premium on operational efficiency
A cost-conscious and efficiency-driven mentality must be maintained at the workplace for processes to be productive. A new-age leader ensures that the team managers, the executives, and the staff function, interact, and engage in cost-effective ways at the grassroots level.
Providing tools to help your operations employees become more efficient is a simple way to subdue a cost-conscious mindset, even if you believe there is a huge separation between your function and that of your operations personnel. Furthermore, a company with good channels of communication guarantees that everybody is heard and can therefore influence the success of the company. Focus on the micro-success of your staff if you want your company to thrive.
Assign the correct people to the correct positions
You can rely on your staff to help you grow since they are your most valuable assets. Particularly in the sector of print advertising, a company with outstanding personnel has a great probability of success. Without talented personnel, a company is nothing more than a boardroom full of airheads. Without talent, a company cannot grow and develop.
Scaling your firm, for example, represents a big risk, so you must weigh the pros and cons before you expand. However, if you are confident that you have enough talented people, you are ready for the next challenge.
Transparent decision-making process
Leaders exist to solve problems, and whether you agree with them or not, the people at the top always have the final say in whatever a company decides. A successful businessperson must have the confidence to make decisions based on strong logic.
As key stakeholders, new-age leaders hold the fate of their organisation and the people who work for them. As a result, each decision must be founded on rigorous research, careful planning, and the right timing. It should not be based on unreasonable or emotive logic.
Transparency is a must for the organisation’s advancement. It doesn’t mean you have to provide everyone in the company all the information of the firm, but it does mean you have to give the rightful parties all the information they need without violating any current privacy constraints. If your decision has an influence on operations or key leaders, you must be open and honest about it; you must also set realistic expectations for any future adjustments they may face.
The most effective leaders are spontaneous decision-makers with circular vision, who find potential in everything. After casting strategic, long-term plans for the future so many times throughout their careers, great leaders will become extraordinarily intuitive and immune to pressure conditions. Maintaining organisational success demands leaders who can see the glass half full, even when the rest of the organisation does not.
When new-age leaders bring value to the business and participate in the decision-making process, organisations will be able to remain significantly ahead of the competition. To get there, leaders must be bold trendsetters, forging new paths that few would contemplate. This can bring up previously unexplored opportunities and infuse newfound meaning and energy into the workplace and employee engagement, allowing the business to grow. As a result, new-age leaders are critical in maintaining the legacy while also incorporating new age-strategies into MSMEs.
Edited by Swetha Kannan
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)