Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Self-Starters Lack Leadership Skills Survey Reveals

Self-Starters Lack Leadership Skills Survey Reveals


Too many entrepreneurs are lacking the leadership skills to take their business to the next level according to a global survey just released by The Alternative Board.

“When asked how well employees understand their role in leadership’s vision, business owners gave themselves a disappointing C- average,” says Stephen James, Managing Director - The Alternative Board New Zealand.

The survey - which includes entrepreneurs from New Zealand, United Kingdom, Canada and The United States - found that 46 percent of respondents think accomplishing goals is the most important function of running a company, with just 38 percent placing more importance on providing a vision for their business.

“The most crucial role for leaders is to provide a vision,” says Mr James.

“Businesses simply carrying out tasks are management, not leadership driven and are less likely to succeed.”

Of the companies that did rate providing a vision as a priority, 7.1 out of 10 leaders admitted needing help communicating it.

Providing a vision and communicating it are effectively twinned, because one without the other has little value,” adds James.

The survey found North American companies put more emphasis on providing a business vision and communicating that to staff, compared to New Zealand and UK businesses which place the greatest weight on getting things done.

Contemporary leaders still favour direct communication. When asked how they communicate with employees, the majority of CEOs (61 percent) say they most often speak to their staff face-to-face or in company meetings (27 percent). By contrast, 9 percent admit to communicating through managers and only 4 percent resort to email as the first line of communication with their staff.

The survey obtained the views of 336 small business owners and CEOs worldwide (roughly 70 percent of whom have companies earning over NZ$1.1 million a year). Significantly, more than half (55 percent) have been in business for 20 years or more. A common profile of the modern business leader emerged from The Alternative Board’s study, showing that today’s leaders:

Take risks. In fact, 90 percent say pursuing opportunities (even those with high levels of risk) is more important than simply reducing risks - a task better suited for traditional managers.

Seek respect. An overwhelming 65 percent of leaders feel that earning the respect of their team is preferable to being understood (33 percent), liked (3 percent) or feared (0 percent).

Inspire action. Delegation and talent selection is seen as crucial because 63 percent of the leaders surveyed believe inspiring action is their primary objective with employees, versus the traditional managerial roles of solving problems (16 percent) and coordinating tasks (15 percent).

To read a full review of the survey’s findings and learn more about what they mean for business,

click here:

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

$7.5 Billion Surplus: Government Accounts "Show Strong Economy"

“The surplus and low levels of debt show the economy is in good shape. This allows the Government to spend more on infrastructure and make record investments in health and education,” Grant Robertson says. More>>

ALSO:

New OIO Application Trumps Judicial Review: OceanaGold Cleared To Buy Land For Waihi Tailings Expansion

In a surprise turnaround, the government has given OceanaGold a greenlight to buy land to expand its Waihi mine after the application was previously turned down by Land Information Minister Eugenie Sage. More>>

ALSO:

Christchurch Rebuild: Fletcher Sued For $7.5m Over Justice Precinct

Fletcher Building is being sued for $7.5 million by utilities contractor Electrix, one of the subcontractors on the Christchurch Justice and Emergency Services Precinct. More>>

Three New Drugs: PHARMAC Signs Bundle Deal For More Cancer Medicines

420 New Zealanders with lung cancer, breast cancer, multiple sclerosis and respiratory disease will benefit each year from a bundle deal PHARMAC has finalised with a medicine supplier. More>>

ALSO:

"Levels Playing Field": Government Responds To Electricity Price Review

The changes announced today include: • Supporting new and independent retailers by requiring the big power companies to sell into the wholesale market at affordable rates. • Extending discount rates to all customers • A pilot scheme to help customers who have not switched power providers before to shop around for better deals... More>>

ALSO: