Monday, 23 January 2017

Different types of leader

Hello readers, hope you are all good and hope you enjoyed the weekend. Today, I will be writing about the different type of leaders. I hope you will gain a thing or two. A leader is an individual that inspires a group of people to achieve a particular goal. A leader could be autocratic, participative, transactional or transformational.

The Autocratic Leader
This is a type of leader that makes all the decisions. He/She does not delegate duties to other team members. He/She controls all their actions. This type of leadership could be effective when staff are lowly skilled and they require a lot of supervision in order to be able to achieve a task or the goals of the organisation. A business that requires minimal error could also apply the autocratic style of leadership.

The Participative Leader
This is a type of leader that takes the contribution of his/her team members into consideration but he/she makes the ultimate decision. In other words, this type of leader encourages the contribution of team members. When employees contributions are taken into consideration it motivates them to work better. It makes them to accept changes in the organisation easily. This type of leadership also poses an advantage when short term decisions need to be made.

The Transactional Leader
This type of leader motivates team members through reward and punishment. This type of leader is also called the managerial leader. If an employee should break any of the laid down rules and regulation, the employee will be punished. If an employee performs in such a way that pleases the leader, the employee will be rewarded. This leader only encourages ideas within the context of the culture of the business. A transactional leader is only majorly interested in making sure that the operations of the business goes on well, and do not really care about the company attaining the market leadership position.

The Transformational Leader
This is a leader that inspire team members to achieve a particular goal through positive motivation. This leader communicates effectively to employees in order to meet the business goals. This style of leadership encourages changes, thus an organisational culture can be changed. The leader also encourages great ideas that are not within the context of the culture of the organisation. The leader is not only concerned about achieving the goals of an organisation but also concerned about the development  of his/her team members. Decision making duties are also delegated to team members, which help them develop leadership skills.

Thank you for reading this article. Keep checking out my blog regularly.

Tuesday, 17 January 2017

Choosing a business to invest in

Hello readers, today I will be writing about the right business to invest in. Hope you gain a thing or two from it.

Allah must be pleased with any business you want to start meaning it must be good for yourself, it must be good for others and it must be good for the community. You should invest in what you are passionate about as your business is going to be a part of your life, thus it must make you happy.

Someone that is passionate about customer services can invest in the telecommunication industry and someone that is also passionate about information technology can also invest in the telecommunication industry. Thus, as long as you can find your passion in an industry then you can invest in the industry. The aspect you are passionate about is what that will make you competitive in the business market.

You must also invest in an industry you understand. It could be an industry you have gained working experience from or a degree that focuses on the industry. In other words, you should look for your passion in an industry you understand. If you do not understand the industry your passion can best be served in then acquire the knowledge that will help you understand the industry.

Another factor to consider is the barrier to entry, is the industry easy to enter? Do the major competitors try to kill the competition? If the barrier to entry is high you could get a major competitor to provide you with a service, that way you would not be flushed out of the system.

That is all for today, thank you for reading this article. Keep checking out my blog regularly. Cheers!

Wednesday, 11 January 2017

Words of successful business leaders

Hello readers, today I decided to give you quotes of successful business leaders. They could motivate you as well as guide you when it comes to businesses.

"A person who never made a mistake never tried anything new" Albert Einstein

"If your business is not on the internet, then your business will be out of business" Bill Gates

"Build a brand and don't destroy it" Dangote Aliko

"Treat every opportunity as an open door" Jack Ma

"Be thankful for what you have you will end up having more" Oprah Winfrey

"Don't let the first no (or five) stop you" Sara Blakely

"Most people never pick up the phone and call, most people never ask, that's what separates the people that do things from the people who just dream about them" Steve Jobs

"I decided to become a business man when I understood that it is possible" Vladimir Potanin

"Never invest in a business you cannot understand "Warren Buffet

That is all for today. Thank you for reading my blog. Keep checking out my blog regularly. Cheers!

Monday, 9 January 2017

For all present and potential entrepreneurs

Hello readers, 1st of January, 2017 as come and gone. I am still pretty much excited about the new year. Hope you all enjoyed the holiday. I took a break, hope you did not miss me much. Today, I will be writing about entrepreneurs.

An entrepreneur is an individual who starts a business, he or she assumes all the risks associated with the organisation with the hope of getting a reward. An entrepreneur is responsible for making decisions on what product (goods and services) that will be provided to the public for sale. The entrepreneur also provides the capital required for running the business. Entrepreneurs play an important role in a country as they help develop a country by creating products that can be exported to other countries. This will help build the gross domestic product (GDP) of a country.

Becoming a succesful entrepreneur requires dedication, entrepreneurs are responsible for the growth of the business they have established. The business is your vision, so you must be commited to it. It will help motivate your team members (employees). The way you treat your business is the way your employees will treat your business. 

Procrastination is bad for business, when you procrastinates it is most likely the goal you want to achieve will not be ascertained as a result of you not carrying out actions that will be required to achieve the stipulated business goal. When procrastination occurs you end up not taking the required actions or delaying the required actions needed to achieve your goal. A delay could prevent you from achieving your goal, although is better late than never, however being late might mean taking actions when it is no longer needed.

That is all for today. Thank you for reading this article. Keep checking out my blog regularly. Cheers!