Best Practices in Leadership
Leadership is defined as the abilities and the activities of the leaders in the company to inspire a culture of Business Excellence in achieving the objectives of the company.
Some leadership best practices in leadership that are clearly visible:
- Rewarding performers not only on their financial results, but various other factors. To assess performance, many companies used the Balanced ScoreCard method, developed by Kaplan and Norton
- Top management meet often to discuss methods to improve their business performance
- Meetings and surveys are conducted at regular intervals to include employees in decision-making for company strategy and policies
- Understanding that recognition by peers is an important motivation, the best leaders showed recognition to their performing employees through different methods, such as commendation letters, putting their names on the company’s intranet newsletters, commending in the presence of people respected by the performers and giving small gifts. Formal procedures were also in place in some companies for such assessment and rewarding of performance
- Putting in place a system that allows employees to work on improvement besides providing them the needed resources. In addition facilitators who work with the employees on personal improvement programmes were engaged
- Involvement of top management in setting up Customer Relationship management as well as Supplier Relationship Managements through initiatives such as interactive meetings, two-way visits between the company and the suppliers and customers. The Efficient Consumer Response (ECR) approach was introduced by top-notch companies to build a closer relationship throughout the entire supply chain.
