An excerpt from the forthcoming book “Organizing and Managing Insanely Great Products” by David Fradin with RN Prasad
Developing Strategic Leadership
The greatest limitation on success and growth is the availability of leadership talent. The good thing is that leadership skills can be learned.
Leadership builds on the company’s vision, values, and mission plus its strategy.
Four general areas for core leadership competencies are the strategy, talent, operations, and revenue generation.
According to BTS, a leading SaaS company that uses business simulations to develop its leaders says leadership development that provides deliberate practice with expert feedback, course correction, and more assessment and targeted practice that replicates real-world experience help develop leadership. Leaders have to be able to shift their mindset and build confidence that will drive future success. The business simulations into the future enabled the leaders to mature. The simulations help significantly because leaders typically learn through trial and error. The simulations help the developing leader learn what is effective and what is not. Sometimes the leaders do not know what areas in which they need to develop their competencies. The simulations help them find them out.
Some studies have found, especially with first-time leaders that clarity on the understanding of the expectations and accountabilities is crucial to success. This, along with honest and open feedback from coworkers, also helps. Additionally, priority needs to be directed at development with a written development plan.