Business Education: Supplementing Management with Leadership

Business schools are tasked with training individuals for the practice of management as a profession. They also have a responsibility to grow novel knowledge that may be pertinent to enhancing the operation of a business. The training may occur in different ways and at varying levels.

More precisely, business schools provide undergraduate or postgraduate courses to individuals with intentions to enter the business but lack prior business experience. Also, they may provide post-experience courses for managers at different levels of responsibility. They train CEOs of mega-companies and educate small business owners, future entrepreneurs, and public officials.

However, what business schools fail to adequately consider when training individuals for prospective practitioners as business professionals is that they should modify their curriculum and education to meet their different roles. They also fail to consider that businesses do not operate in a vacuum. Business atmospheres are dynamic.

The game of business changes dramatically with time and is expected to continue changing due to global economic dynamics. Therefore, it is imperative for business schools to not only train individuals for management but also leadership.

Leadership in Business Education

Leadership is fundamental to all facets of life, even in educational institutions. Leadership and learning are requisite to each other. Business education is at crossroads, with challenges experienced in the business world today is partly associated with a lack of effective leadership skills. Thus, to improve the existing worldwide issues, students must be equipped with leadership qualities.

But what exactly is leadership? And does it differ with management? Leadership is an individual’s capacity to inspire the beliefs, attitudes, actions, and principles of others. Leadership is centered on providing direction, vision, and inspiration for the business. It revolves around effectiveness. Conversely, management is centered on meeting goals, implementing plans, and preparing the budget. It revolves around efficiency. But is the success of a business affected by how it is led? Read on to find out.

Why Business Schools Should Train for Practice of Leadership

Some people say that if your deeds motivate others to dream more, learn new things, and become more, then you qualify to be a leader. The reasons why business education should help students develop leadership skills related to the effects of these skills on the operation of a business. Leadership affects the ability of students to lead effectively in the business world after graduation.

Leadership greatly affects the success of a business. The effectiveness of leadership is a significant factor in determining whether an organization flourishes. Each organization has its unique characteristics and culture. However, leadership can form upright organizational conduct. Corporate values are molded by the trust between workers and leaders. Trust must exist in the company between the leaders and followers for a positive culture to be forged.

Also, upright organizational culture can be easily forged by leaders that exhibit sturdy skills of leadership. An upright culture enhances the performance of a business, motivates workers, inspires their deeds and perceptions, and provides them a sense of ownership to the enterprise. As a result, employees become loyal and committed to the business, thus increasing the chances of success.

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Leadership affects the extent to which learning is encouraged in a business. Real leaders can urge workers to learn by offering varying types of motivations. Depending on the types of leadership, you can either use rewards or positions to motivate followers. But how is the capacity to acquire new skills and knowledge associated with business success? Continuous learning is a tactic to refining the general performance of workers in a business. This is because learning helps individuals to improve as their abilities and understanding are strengthened. This will place them in a better position to do their jobs.

A leader’s capacity to make staff innovative also affects business success. Efficient leaders can instill cooperation and innovativeness through efficient collaboration and communication. Collaboration encourages the birth of innovative thoughts as employees can collaborate. Also, collaboration allows workers to exchange ideas and learn from each other.

The accomplishment of a business is determined by its ability to achieve change. Today, the commercial world is fast-paced. Successful businesses must have the capacity to adjust to change. They can help workers understand change better, thus creating an open-minded organizational environment and one that is open to transformation. An effective leader can inspire workforces and lead them towards the revolution, thus driving organizational success.

Overall, business schools should strive to produce managers who exhibit leadership skills. The dynamic business environment that business professionals work does not only require them to be effective in managing business operations but also be operational leaders. In addition to implementing plans, preparing the budget, and meeting goals, business professionals should be able to provide direction, vision, and inspiration for the business.