Photo: YouTube/ leaderonomicsmedia
“Co-leadership is absolutely essential in today’s interconnected and increasingly complex business world. Leaders are valuable commodities—but it’s important to remember that they cannot innovate unless they are able to share power and translate leadership into productive, timely responses to the current market. In a departure from traditional practice, the new business model involves leading democratically, alongside subordinates, and taking their insights into account.”Peshawaria says that a common flaw in many leadership stories is going solo because the success of the company is then limited to the leader’s individual brilliance. The best leaders realise early that prolonged success requires co-opting the creativity and energy of the people that report directly to them.
He gives three steps on how to do this:
“The first step is to develop the humility and confidence to treat them as your co-leaders, and truly be willingly to share your authority with them…
Next, the leader must proactively lead by example and invite constructive criticism and feedback, even on his own pet ideas…
Finally, he must proactively create a culture of collaboration wherein every member of the team thinks and acts like an owner, and goes out of the way to make his/her peers successful.”
“If absolute power corrupts absolutely, co-leadership enables, absolutely.”
Want your business advice featured in Instant MBA? Submit your tips to [email protected]. Be sure to include your name, your job title, and a photo of yourself in your email.
NOW WATCH: Ideas videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.