CHANGING STRATEGIES

The journey of business leadership is fraught with situations where managers take tough decisions. Sometimes the needs of the enterprise overshadow everything else. A mature leader recognises this and empowers stakeholders to drive the business beyond the vision and passion of an entrepreneur.

“Leadership is about learning to let go and really empowering people at all levels of the organisation and trusting them to do the right thing.’’ - Sundar Pichai.

It is natural for entrepreneurs to fear what they cannot control. In the fast-changing future, it is challenging for founders to prepare businesses for unanticipated changes without dedicating the required time and effort. As a business grows, the greatest challenge for the visionary behind that business is to empower teams without micromanaging and neglecting broader strategy. The need to be in control often ends up being in conflict with business interests and growth. Letting go entails building of robust teams, strengthening them by authorisation, and eventually, entrusting them to let them drive the company forward. By making space for engaging experts, entrepreneurs harness the courage to relinquish the fear of not steering the vision.

During the evolution of an organisation, delegation of authority plays a pivotal role. In recruiting talent, it is essential to identify the right people who are aligned with the goals and future of the company. By reducing their span of control and trusting their teams, leaders focus their resources in the right areas of maximum impact.

Over the years, there has been a marked shift in mindsets of the Indian business environment. The sectors have come of age with the progression of entrepreneurs driving towards better futures. Indian entrepreneurs have evolved from conventional business ideologies to realising the potential of long-term strategies. The focus has shifted to building and turning the reins over to professionals and specialists. While deciding to scale up, managements have embraced institutionalisation of business to harness success. This changing mindset in Indian businesses is a paradigm shift for industry peers.

Letting go is challenging. Yet, as we have seen it can be the most effective and beneficial strategy for long-term health and success of the business. Ronald Reagan once remarked, “The greatest leader is not necessarily the one who does the greatest things. He is the one that gets the people to do the greatest things.’’