With the arrival of the New Year, for many it’s a time for reflection, reinvention and forward thinking. As clichéd as that sounds, when it comes to your business, January presents a great opportunity to refocus, to look back on the previous year’s successes and look forward to making important decisions that will improve, advance and grow your company.
Successful businesses require strategic leaders that are able to plan, think critically and dedicate time and resource to executing strategy. With that in mind, here at Leeds University Business School we have created a new nine-week course designed for business owners and senior management teams in high-growth SMEs. The SME Future Leaders programme benefits from a blended learning approach - combining face to face sessions with online tutorials and webinars designed and delivered by senior Business School academics.
We caught up with Jacinta Elliott, organisation development expert and member of the course delivery team, to understand why such programmes can help steer your business through the next 12 months and beyond. Here she explains five ways leadership training can help you adopt styles of working to foster business growth.
- Build capacity
Fast developing businesses need to build capacity across their senior management teams or they risk missing out on opportunities. Capacity building is the process by which individuals and companies obtain, improve, and retain the skills, knowledge and other resources needed to do their jobs competently or to a greater capacity. Building capacity means investing in yourself and senior team to maximise lasting results for your business.
- Let go of the reins
There comes a stage in fast developing SMEs when you as the owner can no longer do everything yourself. Learning how and when to step back from the whirlwind of day-to-day operations enables you to create space for the strategic thinking necessary for an organisation’s long-term success. Working on direction setting and identifying opportunities means you can form ambitious but realistic targets for business growth.
- Empower leadership teams
By empowering key senior managers, SMEs will be able to build a culture of empowerment, forming strong collaborations and deeper work relationships that elevate a team’s performance.
- Strengthen decision making
Leaders strive to make competent decisions all the time. Learning to use your increased capacity and manage empowered leaders can mean business choices can be actively transformed into desired actions and outcomes. The road to growth is paved with a clear sense of purpose, vision and direction.
- Boost sustainability
Developing a deeper understanding of management skills, financial literacy, cost implications of innovations and strategic goals within your senior team strengthens a company’s ability to maintain the rate and level of growth and advancement.