If one is looking to make a mark on the world there are some key leadership strengths that one has to develop. Leadership can come in many different forms and mastering them can pave the way to a successful career.

What are the strengths of leadership?

Strengths of leadership are the characteristics and qualities that contribute to someone being able to lead, motivate and inspire others. People can leverage their existing strengths to thrive in leadership roles, or actively work to hone certain effective leadership qualities to become a more well-rounded leader for their team. Having multiple types of leadership strengths is an important part of leading different types of projects while balancing multiple perspectives, ideas and personalities within a team.

Strengths of leadership to develop in the workplace

Understanding common strengths that contribute to good leadership can empower you to apply your own strengths to leadership positions. Here are some of the top leadership strengths that you can use at work with tips on how to develop and apply them:

Empathetic leader

Empathy is one of the top leadership strengths because it enables people to understand others’ motivations, values and feelings. Being able to relate to others on an emotional level can help leaders find the best way to align their values with the goals of the team. Empathetic leaders are able to strategically approach situations based on how others think and feel, promoting a cohesive, respectful team environment.

Being open about your own thought processes can also build trust and show others that they can rely on you to prioritize their input.

Self-awareness

Self-awareness is considered to be one of the key leadership strengths that must be developed by people placed in management positions. Practicing self-awareness allows you to better react to situations or people who may trigger you. This is a great strength to have for a leader. Developing self-awareness better equips you as a leader to become aware of your emotions, and build a toolkit for how to handle them in a professional situation.

Understanding and tactfulness

Social awareness and tact are strengths that allow people to guide the tone of interactions and increase positive outcomes when working with others. Knowing the right words to say to discuss difficult situations can allow you to avoid interpersonal conflicts and persuade people to consider your point of view.

A true leadership trait is practicing tact in the workplace by always considering the impact of your words and actions. It can be one of the important leadership strength and give you the opportunity to speak on behalf of your team during important projects.

Good teacher

Being able to explain complex ideas in simple ways and teach others makes it easier for leaders to grow their team members. Mentoring and guiding others is an important aspect of being a good leader. One of the best ways to improve your own teaching skills in the workplace is to shadow multiple others in leadership positions and observe their teaching methods. Gathering multiple perspectives can help you learn to adapt your teaching skill to suit the different learning styles of others on your team.

Excellent communication skills

Strengths of leadership is communication. To be an effective leader, you must be able to communicate effectively. Your success, and that of your organization is reliant on it.

As a leader, you need to be a skilled communicator in relationships at many levels, and with a wide range of different audiences.

Your communication as a leader must be purposeful, and intentional. Delivering effective communication is vital to gain trust, align in pursuit of targets and goals, and inspire change. Good communication skills can also help to avoid conflicts within an organization. Communication is an essential skill for any leader who wants to be successful.

Fair and equitable

People respect their leaders when they know that they treat everyone fairly and equitably. Being logical and fair when interacting with others shows that you value everyone on your team equally. To be a fair leader, you need to actively work to identify any personal biases and favoritism.

Confidence

It’s easier to get other people to trust your judgment and leadership when you show them that you believe in yourself. Having a confident attitude helps you make decisions and convince other people to support those choices. By projecting confidence, you show others that you believe in your ability to drive positive outcomes. This encourages others to consider you for leadership positions and allows you to quickly drive change once you gain major responsibilities.

Accountability

One of the main roles of a leader is to take accountability for both the successes and the failures that occur on their team. Taking accountability and responsibility for not only your actions but the actions of people on your team shows that you believe in the value of collaboration and are committed to producing successful outcomes. When you’re willing to take accountability for your behavior, you show others that you are focused on improving and learning from your actions.

Innovation

The best leaders have a vision for their team and know when to take chances on new opportunities, making innovation a core leadership strength. If you have the ability to be innovative, it allows you to recognize opportunities that others may not notice. Innovation helps you determine the direction for project ideas and implement creative, inventive processes to improve workflows.

Collaboration skills and intercultural sensitivity

Instead of top-down management, a collaborative leadership style encourages wider access to information, different perspectives, and a shared responsibility amongst teams. When leaders are collaborative their team members feel like they are cared for, their contributions are valued, and their perspectives are understood and taken into account.

Practicing collaborative leadership encourages commitment and engagement. Employees are more likely to invest additional effort and energy when they know that management is invested in them and shows that they care about them.

Flexibility

Flexibility is a type of leadership strength that allows you to adapt to changing circumstances and guide team. While planning is also an important leadership strength, you need to be able to adapt your plans and make adjustments based on external factors. One can earn leadership opportunities by showing that they are flexible enough to solve problems and change strategies when necessary.

The post Developing Key Leadership Strengths for Workplace Excellence appeared first on Industry Leaders Magazine.

From innovative work models to leading technology, the top CEO’s role in innovation and transformation of any startup and tech industry have an impact on more than just the bottom line. And these best CEO’s are worth knowing about.

Role of influential CEOs

In an era of rapid technological advancement, the role of business executives has become increasingly crucial in navigating the complexities of emerging trends and innovations. From the continued rise of artificial intelligence to the evolving landscape of digital platforms. Today’s top influential CEOs are at the forefront of shaping the future of industries and redefining the boundaries of what’s possible.

Best CEOs to watch out for in 2024

These dynamic CEO’s lead with purpose, vision, and put their people first. Whether you’ve heard of them, work with them, or are just learning about them for the first time, they’re doing incredible work, making them the top CEOs to watch in 2024.

Michelle Bacharach

Company: FindMine

Tech startup co-founder and CEO, Michelle Bacharach is developing the content creation engine for the world’s iconic brands, FindMine. Michelle has been named one of Inc Magazine’s Top 200 Female Founders. She leads with empathy, kindness, creativity and intelligence, creating a top workplace culture loved by her teams. In addition, she also makes the time to help other founders find success, especially female founders.

Steve Case

Company: Revolution

Steve Case is one of the country’s top tech founders and CEOs. In 1985 he founded America Online (AOL) and under his leadership, AOL became the world’s largest and most valuable internet company, driving the worldwide adoption of the transformative technology. Currently, Steve is Chairman and CEO of Revolution, an investment firm. Revolution Growth has invested nearly $1 billion in growth-stage companies including Sweetgreen, Tempus, Tala, DraftKings, and CLEAR. Revolution Ventures has backed more than two dozen venture-stage companies, including Framebridge, GoodBuy Gear, and SRS Acquiom. Revolution’s Rise of the Rest Seed Fund has invested in more than 200 startups in over 100 U.S. cities.

Claire Coder

Company: Aunt Flow

After getting her period in public without the needed supplies, Claire Coder dedicated her life to creating a solution. This was to ensure business and schools could sustainably provide quality period products for free in bathrooms. At eighteen years old, she founded Aunt Flow in 2016 to do just this. The company has been recognized as the ISSA Show 2021 Choice Award and the Sustainable Company of the Year in 2021 as well as the Best Woman-Owned Brand by NBC. Claire was named Forbes 30 Under 30 and received the Thiel Fellowship by the age of 22, making her one of the top CEOs to watch.

Colleen Costello

Company: Vyv

Colleen Costello is a tech founder, clinical researcher, engineer and more. She is the Co-Founder and CEO of Vyv, a health technology company that has created proprietary continuous-use antimicrobial light technology for public places, consumer products, homes, and industry. Her work as a scientist and a founder have been recognized by major new outlets. She has been named in Goldman Sachs 100 Most Intriguing Entrepreneurs, Forbes Magazine 30 Under 30, Inc. Magazine 30 Under 30 Most Brilliant Young Founders, 50 Emerging Global Entrepreneurs to Watch by Inc. Magazine, and more.

Jasmine Crowe-Houston

Company: GoodrCo

Jasmine Crowe-Houston is the Co-Founder and CEO of GoodrCo, a sustainable food waste management company that leverages technology to combat hunger. Jasmine has been recognized for her work in CNBC, Oprah Magazine, The New Your Times, Forbes and Fast Company, as well as Entrepreneur Magazine’s list of the top 100 influential female founders. Not only is she a tech founder, but she’s also a children’s book author. Jasmine is a top CEO to watch and an inspiring leader, dedicated to making the future more equitable for all.

Alice Default

Company: Double

Co-founder and CEO of Double, Alice Default has spent the last 10 years helping people spend time on the things that matter most to them. Double is a software platform that connects busy executives with experienced part-time assistants and delegation tools to help them save time and focus on what matters. Alice and her Co-Founders Christophe Lamperti and Pierre-Elie Fauché, met while working at Sunrise Calendar. Later it was acquired by Microsoft. Alice has been recognized in Forbes 30 Under 30 and raised over $14 million.

Nishika de Rosairo

Company: HumanQ

Nishika de Rosairo is a serial entrepreneur, artist, and CEO of HumanQ, a coaching platform on a mission to address the pain points felt by both individuals and organizations in having access to the right development opportunities. Throughout her experience with some of the biggest brands (from Deloitte to Apple, Cisco to Salesforce and more), Nishika has always focused on people and impact. She has lived on four different continents and is an avid traveler, giving her a unique perspective and a global lens through which she views organizations as well as the future.

Dima Dobrynin

Company: Staxel

CEO Dima Dobrynin is building an emerging hardtech company, Staxel. Working at the intersection of robotics and AI, Staxel is on a mission to create innovative and reliable solutions using robots and AI with ten times the efficiency. Dima’s leadership and hard skills have allowed Staxel to launch a robotic pilot with NewLab Detroit in just six months after company creation. Still in its early stages, Staxel is a small but promising startup with an ambitious vision of becoming an intralogistics automation standard, with Dima at the helm.

Scott Dorsey

Company: High Alpha

Highly influential in the Indianapolis tech ecosystem, Scott Dorsey is an entrepreneur, investor and startup advisor. In 2015, Scott co-founded the venture studio, High Alpha, alongside Kristian Andersen and former ExactTarget executives Mike Fitzgerald and Eric Tobias. High Alpha is a venture studio that helps create and fund B2B SaaS companies. Scott has been widely recognized as a top CEO and entrepreneur, as well as his community work in Indianapolis.

Arlo Gilbert

Company: Osano

Arlo Gilbert is the Co-founded  of Osano. Osano helps in simplifying privacy compliance so companies can stay compliant, increase trust, and do the right thing. Arlo and co-founder Scott Hertel were inspired to create the company after seeing how little top officials understood about how data is stored and shared. As CEO of Osano, Arlo brings over two decades of experience in founding and leading SaaS startups to create value, disrupt the industry, and drive growth. Arlo is a purpose-driven founder, a data privacy pioneer and advocate, and is passionate about shaping the future of data privacy and creating a positive social impact.

Patrick Kelly

Company: Signal Advisors

Co-Founder and CEO of Signal Advisors, Patrick Kelly is a top CEO to watch based in Detroit. Stemming from his own experience in the financial advisor industry, Patrick co-founded Signal Advisors with Jake Cohen and Kevin O’Hara to innovate in the financial advisor industry and provide software that helps them scale their businesses. Patrick was the Detroit Venture Partners Entrepreneur-in-Residence from 2018 – 2020 and has led Signal Advisors through multiple funding rounds. Patrick, Kevin and Jake have created a progressive workplace culture and are committed to putting their people first.

Scott Kim

Company: RocketReach

CEO of RocketReach, a business info-services platform, Scott Kim is a purpose-driven leader who strikes a rare balance of high IQ and EQ. One of his leading qualities appreciated by the RocketReach team is the way he leads with trust. By trusting the team to do their work well and by not gatekeeping, Scott has created an environment that empowers those around him to take on new challenges and believe they can do it. It encourages everyone to grow and learn. RocketReach is a safe space for all questions and offers a seat at the table for everyone, thanks to Scott’s leadership. Leading with empathy and care for his team, Scott makes sure RocketReach takes care of its people and provides an excellent place to work.

Ben Madick

Company: Matic

As the co-founder and CEO of Matic, Ben Madick leads one of the fastest-growing insurance agencies in the U.S. He currently serves on the advisory board of Mortgage Compliance Magazine and as an advisor to numerous U.S. mortgage banks and lenders. As a purpose-driven leader, Ben has set Matic apart from other insurtech companies by delivering an unbiased approach to insurance. The company combines a powerful digital experience with an agency of trusted advisors — real people with a lot of heart.

Geng Wang

Company: Civic Champs

As a CEO of Civic Champs Geng Wang’s team provide seamless and rewarding volunteering experience for both volunteers and service organizations. Geng is a serial entrepreneur and two-time exited founder. He works with passion along with the people he works with to lead with purpose. He is committed to creating a collaborative and open culture that fosters learning and personal growth. This has created a great place to work for people who want to make a positive change in the world.

Cindy Warner

Company: 360ofme

Cindy Warner is the founder and CEO of 360ofme. It is a ethical data exchange platform that transforms the paradigm of personal data ownership by rebuilding trust between ethical enterprises and individuals.  She is one of the startup CEOs to watch out for as she is highly driven by purpose. She is a part of organizations that give back to the community, like Michigan Founders Fund. 360ofme was recently featured on Viewpoint Project with Dennis Quaid, Fox Business.

The post Best CEOs to Watch in 2024 Leading with Innovation and Purpose appeared first on Industry Leaders Magazine.

For Thomas Bargetzi the solopreneur, success isn’t merely a destination but the culmination of consistent, high-performance actions. He approaches each day with the mindset that success is the driving force behind every endeavor, motivating him to strive for excellence relentlessly.

CEO Thomas Bargetzi AG belief

Bargetzi also believes that failure is the other side of success and that you can only become successful if you’re ready to accept this fact. Likening success in sports to success in life, where sometimes you win and sometimes you lose, he notes that in life, you simply need to win one more time than you lose, which means you’ve won!

Thomas Bargetzi a solopreneur

Thomas Bargetzi, believes that success is the goal of all works, activities, or things you try to achieve, and the result of many little pieces of performance. “I get up in the morning to be successful, otherwise I stay in bed. Success is a mindset. This means you must be a leader, concentrated and focused on the matters you do, with the people you are working with!” he declares.

Interim management concept

As a dynamic manager, Thomas Bargetzi the solopreneur recognized the significance of innovation in overcoming traditional barriers within corporate structures. Faced with challenges where age, tenure, or hierarchy often dictated the acceptance of ideas, he pioneered a novel approach “interim management”. Bargetzi embraced the notion that the most daunting tasks demand the boldest solutions. His approach is characterized by agility and decisiveness, emphasizing action over deliberation. Bargetzi believes in swift execution, advocating for a proactive stance where actions speak louder than words. In his experience, action is key to addressing issues effectively, allowing for rapid adaptation and problem-solving.

Bargetzi’s modus operandi involves rapid immersion into projects, speedily identifying core issues, and mobilizing resources for impactful outcomes. He prefers collaborating closely with internal stakeholders, leveraging their insights and expertise to drive meaningful change. By embedding himself within project teams as the sole external member, Bargetzi ensures a seamless integration of external perspective with internal dynamics.

As a self-described “fire brigade,” Bargetzi operates with a sense of urgency, eschewing complacency for proactive engagement. His approach emphasizes direct engagement with customers, markets, and stakeholders, prioritizing active listening and quick response to feedback.

Bargetzi’s academic journey

Thomas Bargetzi the solopreneur’s journey is impressive, with a focus on economics and marketing. He holds two marketing master’s degrees and a postgraduate degree in controlling, in addition to an MBA from City University in Seattle. Fluent in four languages—German, French, English, and Italian—Bargetzi possesses a valuable skill set for international business.

At the age of 37, Bargetzi reached the pinnacle of his career as the head of the soft drink division at Switzerland’s largest brewery, showcasing his leadership and strategic capabilities. Prior to this role, he held senior positions in marketing and sales with prominent American companies such as Mars, Pepsi Cola, NutraSweet, and Sunrise Medical. These experiences provided him with valuable insights into customer-oriented thinking and the dynamics of the consumer goods industry.

Additionally, Bargetzi served as a highly ranked Swiss Army officer, fulfilling his duty in accordance with Federal Law. This diverse background demonstrates his leadership skills, adaptability, and commitment to excellence in various professional and personal capacities.

Sports to business

As a sports addict in his youth, Bargetzi intended to become a professional sportsperson, but his father urged him to get a basic university degree to have access to all the options he needed to perform in his business life, once his sports career was over.

“Don’t crack under pressure. Resignation is never – never, ever an option”

Bargetzi considers this the best advice he ever got. Important for European operations, he fluently speaks four languages; German, French, English and Italian.

Strategy for addressing global issues

Bargetzi’s extensive experience working in 30 countries across 5 continents and 80 cities has provided him with a uniquely international perspective. While this global scope presents challenges in terms of managing everything independently, it also offers the opportunity to leverage his diverse talents and experiences.

Despite facing the challenge of not being able to delegate his talents to others, Bargetzi finds great satisfaction in adapting his experiences from around the world. He recognizes that many issues are universal regardless of location, but the solutions must be tailored to the specific circumstances of each locality.

This ability to navigate global challenges while customizing solutions to local contexts underscores Bargetzi’s versatility, adaptability, and deep understanding of international business dynamics. It also highlights his commitment to finding effective and contextually appropriate solutions wherever he operates.

Bargetzi’s adaptive decision making

Thomas Bargetzi emphasizes the challenges of growing as a solopreneur (one-person operation), acknowledging that it limits his capacity to take on multiple mandates simultaneously. Despite this limitation, he has successfully managed 55 mandates across 19 different businesses worldwide. He observes a common issue among managers everywhere: a fear of making mistakes that hinders effective decision-making. Bargetzi believes that failure is essential for learning and advocates for a culture that embraces and learns from failures rather than fearing them.

In his approach to decision-making, Bargetzi takes proactive steps to get things started and then adjusts plans based on feedback and outcomes. He also emphasizes the importance of actively listening to staff, spending time working alongside them to understand their perspectives and challenges, which leads to better solutions.

Bargetzi business models

As CEO of THOMAS BARGETZI AG, Bargetzi prioritizes efficiency and fairness in his leadership approach. He values completing tasks in less time, believing it improves overall company performance. Bargetzi emphasizes the importance of treating people fairly, even when making tough decisions, which fosters trust and goodwill.

In addition to his business background and experiences, Bargetzi believes in openly discussing both failures and successes. He also prioritizes living a healthy lifestyle by engaging in sports and maintaining a balanced diet. Bargetzi likens his job to a physical exercise, suggesting that it helps him stay prepared for the unpredictable nature of business.

Harnessing Technology

Bargetzi highlights several significant changes in the field of Business Consulting and Services, particularly regarding the influence of technology:

Professional Databases

Bargetzi notes that databases used for decision-making have become increasingly sophisticated and professional. These databases likely contain vast amounts of data and analytics, providing valuable insights for businesses.

Emphasis on Personal Experience

Despite advancements in technology, Bargetzi emphasizes the importance of personal experience and individual judgment in navigating complex business challenges. While AI may offer suggestions, human experience remains crucial in determining the best course of action.

Role of Human Execution

Thomas Bargetzi the solopreneur underscores that human beings will always play a central role in executing ideas and plans. While technology can provide guidance and support, ultimately, it is humans who implement strategies and interact with clients and stakeholders.

Also, while technology has enhanced data analysis and decision-making processes in Business Consulting and Services, Bargetzi emphasizes the irreplaceable value of human experience and execution in driving successful outcomes.

The Path to Success

Bargetzi reflects on the greatest risk he has taken as a professional, which involved trusting numbers, names, and promises without realizing that the company he was buying was already over-indebted. Despite facing challenges and attempting to rectify the situation for the past five years, he remains determined to prove that he was deceived. He also emphasizes the importance of making plans a reality, highlighting instances where well-thought-out plans failed because stakeholders were not consulted or involved in the implementation process. Bargetzi’s goal is to create plans, execute them effectively, and be adaptable when necessary.

Despite setbacks, Bargetzi remains committed to finding ways to resolve the situation and achieve success in his endeavors.

Reflecting on Bargetzi’s career

Bargetzi’s storied career, shows evidence that his influence extends far beyond the immediate temporal confines of his assignments. His visionary leadership, coupled with an unyielding dedication to results-driven management, continues to inspire a new cadre of professionals in the realm of interim management. As he celebrates this significant milestone, the legacy of his work is a beacon that illuminates the evolving landscape of business leadership, signaling the enduring importance and transformative potential of interim management in the modern corporate world.

The post Solopreneur Thomas Bargetzi’s Path to Success and Leadership Insights appeared first on Industry Leaders Magazine.

As the role of leader becomes less physically visible and the pressures on teams so varied, the ability to have internal certainty in who you are, where you’re going and how you’re getting there is a game-changer.

Facts about leadership

This is difficult when it’s so easy for new- and even seasoned- leaders to internalize the many leadership myths that still linger throughout our communities, workplace cultures and personal ideals. The demands of the job are 10x harder than they were before the pandemic, as people are even more likely to adopt performance-limiting assumptions, and therefore a damaging mindset, along with their promotion.

What are leadership myth?

If unrealistic ideals are left unchecked in your organization, you risk a disconnect between what people believe makes them a leader, and what it truly means to be one; especially in a post pandemic world which proven we can’t depend on a playbook or a one-size-fits-all approach. Lets look at few of the leadership myths:

Position determines leadership

A job title does not a leader make. Leadership skills can be developed in everyone, and leadership is something that everyone can do, no matter their position or job title. Someone can flex their leadership skills on a project, in a single meeting, conversation, or during a conflict situation. Leadership is a way of thinking and behaving, not a job title or position.

Leaders are flawless

A common leadership myth is that leaders must be infallible, with an innate ability to make flawless decisions. This assumption often leads to the notion that leaders must project unwavering strength. In reality, effective leadership is more nuanced.

At some point, every leader will make a decision that doesn’t quite turn out as planned. Great leaders, however, are resilient, adaptable, and open to change amid new information. When an organization operates at its best, it’s well understood that everyone is learning and improving together.

Leaders should hold others accountable

Great leaders do hold others accountable, but it’s not what they should do first. Leaders should hold themselves accountable. Accountability is where power and control meet responsibility- it’s the junction where leaders can either become autocratic or authentic. Guess which style yields the best results?

Leaders give orders

There is a myth that a leader’s role is to dictate orders, perpetuating a command-and-control mentality. Leadership requires action, and leaders are the ultimate decision-makers in a company. However, command-and-control leadership stifles creativity and discourages open communication.

A leader’s role is not just to give orders but to inspire, guide and facilitate the team’s success. By delegating and relinquishing the need for absolute control, leaders can tap into their teams’ diverse skills and perspectives.

Great leadership isn’t just about top-down communication of the strategy. It is also about listening to your team and creating space for them to share ideas, challenge thinking, and honestly discuss problems.

Leadership myth is only one methodology

There is no single “best way” to lead. Many great leaders and coaches have completely different leadership styles. Some people think that all great leaders have to be extroverted.

However, introverted leaders often excel by leveraging their listening skills to engage in thoughtful decision-making. Similarly, I’ve heard from many CEOs who have quickly realized the downsides of hiring a team of executives who think exactly like they do.

Leaders to share only good news

Some leaders think they must insulate their employees from bad news so business challenges don’t deflate the team. But when leaders shut off communication, the team makes up their own stories to fill in the gaps, and the leader ends up isolated.

As Jim Collins says, “Face the brutal facts.” Great leaders respect their team and win their hearts and minds through transparency, seeing them as partners in overcoming challenges. Transparent communication also creates shared accountability.

Leadership is solitary

While it may seem isolating at the top, leadership is not a solo pursuit. Great leaders intentionally select a diverse team of executives who think differently from them. They also consistently seek out CEO peers facing similar challenges.

Every leader has their biases based on their past decisions and life experiences. Hearing other perspectives helps leaders separate the facts from their personal stories or opinions about what is happening. This opens the channels for constructive feedback and course correction.

Spending time with other leaders outside your company creates room for honest conversations about strengths, weaknesses, and struggles. Moving beyond these leadership myths is a critical milestone for personal and organizational success. Embracing vulnerability, communicating transparently, and encouraging collaboration, while rejecting a command-and-control mentality, are key to becoming a more effective leader.

Great leaders know leadership is not a destination. It is a unique and dynamic journey that requires a lifetime commitment to continuous growth, adaptability and learning.

The post Dispelling Myths in Leadership and Navigating the Truth Qualities appeared first on Industry Leaders Magazine.

Leadership stands as a crucial pillar in the achievement of any organization’s success. Different leadership styles exist, each with its own unique approach and impact. One such style is autocratic leadership, which has been both praised and criticized over the years.

What is autocratic leadership?

Autocratic or authoritarian leadership refers to the leadership or management style in which leaders have complete control over decision making. Autocratic management style is where leaders rarely take input from others. An autocratic leader likes to take control over the direction of their team based on their knowledge and personal instincts. Mostly, this kind of leadership style works best in high-risk situations where there’s no scope for committing errors. Companies might prefer hiring autocratic leaders for a team where team members have limited skills or training.

Often authoritarian leader works best for a small organizations because there are few people in a position to make decisions, and such leaders might be a natural fit. Alternatively, large companies have different layers of management and leadership, making it challenging for an autocratic leader to work efficiently.

Characteristics of autocratic leadership

• Taking into account the consequences of not meeting expectations
• Extremely structured work environment
• Difference between leaders and team members
• Employees have rules and regulations to follow

Types of autocratic leadership

Here’re some type of autocratic leadership you might encounter in your workplace:

Direct autocratic leadership

In this leadership style, leaders explicitly tell employees what to do, how to do it, and when to perform a task. It also includes close monitoring of people executing the tasks.

Agreeable autocratic leadership

In this leadership style, leaders make the final decision but allow employees to choose how to complete assigned work to some extent. They might allow some workplace creativity to complete workplace goals.

Nurturing leadership

Though the leaders make all the decisions, they help upkeep the well-being of employees. Such leaders might allow creativity and input from team members.

Autocratic leadership pros and cons

While an autocratic leader is typically dependable, confident, decisive, responsible, and motivated, this leadership style has various advantages and disadvantages. Some autocratic leadership pros and cons are:

Pros of autocratic leadership

Here’re some few of the pros of autocratic leadership:

Quick decision

With autocratic leadership style there are fewer levels of administration and hierarchy that you inform before implementing the decision. As only the leader makes decisions. This ensures faster decision making, especially in situations that demand an immediate resolution.

Communication

Autocratic leadership style helps in enhancing communication in the workplace. As autocratic leadership encourages one-way communication and ensures information reaches the right audience. As the leader clearly defines goals, expectations, and other information to employees, it helps in simplifying and enhancing workplace communication.

Enhanced productivity

One more pro of autocratic leaders is that information moves quickly and they can influence more efficient project completion. Such a leader increases workplace productivity by guiding employees on what to do and how to accomplish their goals on time.

Reduced stress for employees

Although autocratic leaders play an essential role in eradicating the stress level of employees. These leaders take full responsibility for their work and reduce the workload and pressure from the employees.

Setting clear goals

Autocratic leaders set clear workplace goals to help team members understand what they are responsible for. This gives team members a clear expectation of the job description, reducing confusion about their responsibilities.

Perfect for crisis management

As autocratic leaders knows how to handle crisis and can make most of the decisions in the workplace. Leaders showing such confidence typically helps boost team morale.

Helps in achieving goals

When leaders make intelligent workplace decisions, they can generate positive results and enhance the company’s bottom line. This kind of leadership style can therefore help them achieve company goals efficiently.

Cons of autocratic leadership

Although autocratic leadership offers many benefits, it has some drawbacks as well. Some cons of autocratic leadership include:

Too much micromanagement

An autocratic leader typically supervises small details of the work their team members are performing, resulting in micromanagement. When leaders micromanage tasks and watch every team’s actions, it becomes challenging for the staff members to perform their job duties. When this happens, productivity levels might decline rather than increase.

Creates dependency

As autocratic leadership follows a structure, it becomes difficult for many employees to adjust to the work environment. When an inexperienced leader becomes an autocratic leader, the outcome might not be favorable.

Discourages feedback

Another disadvantage of autocratic leadership is that it might discourage feedback from team members. An autocratic leader might not take a lot of feedback. A workplace that lacks a feedback culture can lead to less creativity and innovation, which an autocratic leader would have to consider.

Lack of trust

Leaders can form strong working relationships with team members only when the team trusts the leaders. If an autocratic leader believes team members aren’t performing as per expectations, creating a culture of trust becomes challenging. Such a culture may not create a sustainable workplace, reducing overall productivity.

Pressured environment

Autocratic leaders make most of the decisions on behalf of their team, which might make them feel stressed, overwhelmed, and pressured.

Lacks creativity

It can sometimes be challenging for a single person to develop creative ideas, compared to people who work as a team. Restricting ideas leads to predictable work patterns that don’t foster a culture of creativity in the workplace. Often, a lack of creativity and innovation can result in slower business growth.

Lowers morale

Autocratic leaders rarely value or seek input from others. An autocratic leader often takes credit for the work the team completed collectively. This may leave their team members disheartened because they do not receive adequate recognition.

Autocratic Leadership Examples

Lets look at some of the examples of leaders with autocratic leadership style

Steve Jobs

Steve Jobs was known for his autocratic leadership style. He made key decisions without much input from others and was instrumental in Apple’s success.

Henry Ford

Ford revolutionized the automobile industry with his assembly line and autocratic management style. He made all major decisions and expected strict adherence to his methods.

Elon Musk

Musk is known for his hands-on leadership style, making critical decisions autonomously to advance his ambitious goals.

Autocratic leadership can be a valuable style in certain situations but has drawbacks. Leaders must recognize when to employ this style and when to embrace more collaborative approaches, such as democratic or transformational leadership.

The post Exploring Autocratic Leadership Styles with Characteristics and Impacts appeared first on Industry Leaders Magazine.

AI leaders and researchers play a pivotal role in this era of rapid technological progress. They are at the forefront of pioneering practical applications that redefine how industries operate. These individuals are not only technical experts but also visionaries who shape the future of AI, guiding its ethical use and exploring new frontiers in machine learning, neural networks, and computational intelligence.

Who are the leaders in AI?

In this comprehensive exploration, we will delve into the profiles of the top 10 AI researchers and pioneers to watch in 2024. These famous AI researchers have not only demonstrated exceptional expertise but have also consistently driven innovation in AI, making significant contributions to the field.

Andrew Ng

“Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think AI (Artificial Intelligence) will transform in the next several years.”

Andrew Ng, a luminary leader in the world of AI, continues to make significant strides in 2024. He holds a prestigious position as a professor at Stanford University, his expertise spans across computer science and electrical engineering. Ng’s early advocacy for the use of Graphics Processing Units (GPUs) in deep learning laid the foundation for transformative advancements. He has collaborated extensively with Google Brain and co-founded Coursera, an online platform offering AI education to millions. In 2024, his attention to ethical concerns surrounding generative AI in warfare demonstrates his commitment to the responsible development of AI technologies.

Ian Goodfellow

Ian Goodfellow’s pioneering work in Generative Adversarial Networks (GANs) continues to shape the AI landscape. His contributions to deep learning and machine learning are profound, pushing the boundaries of AI innovation. In 2024, Goodfellow’s leadership in Apple’s Special Projects Group signifies his dedication to exploring new frontiers in AI creativity and application.

Sam Altman

Sam Altman, as the CEO of OpenAI, plays an important role in advancing AI technologies. Under his guidance, OpenAI has achieved substantial progress in AI research and development, particularly with the development of large language models like GPT-4. making him a driving force behind responsible AI development in 2024.

Yann LeCun

Yann LeCun’s groundbreaking work on Convolutional Neural Networks (CNNs) has been instrumental in the advancement of machine learning and computer vision. As a professor at New York University and Chief AI Scientist at Facebook, LeCun has made substantial contributions to both theoretical research and practical AI applications. His mission is to harness AI’s power to enhance human intelligence, emphasizing its positive impact on society.

Demis Hassabis

Demis Hassabis, a renowned AI visionary, serves as the CEO of DeepMind, a leading AI startup. His work at the intersection of neuroscience and AI has led to groundbreaking achievements, such as DeepMind’s AlphaFold technology, which accurately predicts protein structures, revolutionizing drug discovery and biology. In 2024, Hassabis’s spinoff company, Isomorphic Labs, has secured multi-billion-dollar deals with pharmaceutical giants Eli Lilly and Novartis.

Karen Hao

Karen Hao is a prominent figure in the AI community, known for her insightful analysis and reporting on AI technologies and their societal implications. Her work emphasizes the responsible and ethical use of AI, with a strong focus on transparency and accountability in AI systems. In 2024, Hao continues to serve as a thought leader in the ethical application of AI.

Kirk Borne

Kirk Borne is a distinguished data scientist and astrophysicist. His work often intersects with astronomical research, where he employs advanced data analytics to uncover insights from vast space datasets. Borne’s contributions extend beyond research, as he actively educates and mentors the next generation of data scientists, emphasizing the crucial role of data-driven decision-making across various industries. His statement, “Without an opinion, you’re just another Artificial Intelligence with some data,” highlights the significance of human expertise in AI.

Jeremy Howard

Jeremy Howard is an entrepreneur, business strategist, and educator, is best known for his contributions to deep learning and AI. Co-founding Fast.ai, a platform that provides practical and accessible AI and machine learning education, Howard’s efforts focus on democratizing access to AI education. His work aims to make AI education more accessible to individuals from diverse backgrounds.

Fabio Moioli

Fabio Moioli, a seasoned technology consultant within Spencer Stuart’s Technology, Media, Telecommunications & Services Practice, is renowned for his expertise in digital transformation, artificial intelligence, and change management. Moioli brings significant experience from his tenure at Capgemini, specializing in the Internet of Things (IoT) and AI. His insights into AI and exponential technologies, along with their ethical considerations, make him a respected speaker at international conferences.

Clément Delangue

Clément Delangue is the CEO and co-founder of Hugging Face, a company that puts efforts to democratize AI through open-source and collaborative initiatives. Delangue’s vision revolves around fostering a community-driven approach and encouraging collaboration among researchers, developers, and enthusiasts. His leadership underscores a commitment to ethical AI practices and the goal of making AI widely available and beneficial.

In 2024, AI continues to redefine the way we live, work, and innovate. The top artificial intelligence leaders and innovators are driving the revolution forward, pushing boundaries, advocating for ethical practices, and contributing to a brighter future through technology.

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If you have a small business with less than 20 employees and up to $5 million in annual revenues as an entity like a limited liability company or S corporation, the act now requires you to give information about ownership and control.

What is the corporate transparency act?

Under the CTA, certain businesses are required to submit a Beneficial Ownership Information report to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). The report must include the names of each beneficial owner who either owns at least 25% of the business or exercises “substantial control,”

The Corporate Transparency Act, voted on by Congress as a proactive measure to get ahead of shell companies and money laundering, requires eligible small businesses to fill out a Beneficial Ownership Information (BOI) report. The requirements include an $85 fee for filing and about 3 hours, according to experts.

Exemptions to Corporate Transparency Act

The entities that are exempted are 23. One should review FinCEN’s Small Entity Compliance Guide checklist to see whether their company qualifies for any of these exemptions.

Fraudulent Solicitations

FinCEN has put out an alert to be careful of “fraudulent attempts to solicit information from individuals and entities who may be subject to [CTA] reporting requirements.” Be particularly cautious of e-mails with the subject line “Important Compliance Notice” and that ask you “to click on a URL or to scan a QR code.”

Corporate transparency act penalties

If a report is not timely filed, FinCEN can impose civil penalties of $500 per day per entity, a $10,000 criminal penalty per entity and imprisonment for up to two years. To say the least, the consequences of not being in compliance are enormous.

Who governs corporate transparency act?

The Financial Crimes Enforcement Network, an arm of the U.S. Department of the Treasury, is handling the BOI filing and reporting. The group otherwise known as FinCEN focuses on financial crimes and corporate compliance services.

Corporate transparency act final regulations for whom

The Corporate Transparency Act targets small businesses that are LLC and S corporations with less than 20 employees or 5 million in revenue. You are exempt if you have over 20 employees and over $5 million in annual revenue.

Those with an ownership stake will be required to submit certain changes that were not previously relevant or reported within 30 days.

What does corporate transparency act entail?

Those impacted by the new law can complete the filing of the Beneficial Ownership Information themselves online.

Information required includes personal information, which may take some time to gather. Changes to your personal information — such as marriage or divorce may require a new filing within a certain time.

Preservation is better than cure

Many small businessman will likely spend several hours navigating the details of these requirements each year. They will also choose to hire an attorney to make sure each report is properly submitted. For businessman who already have too much on their plates, this might feel like one more headache with very stiff penalties for noncompliance.

To make navigating changing compliance requirements more manageable and stay informed of regulatory changes, businessman can consider working with a reputable business attorney and a CPA. Having an annual check-in meeting with business attorney to discuss any regulatory changes. Also check to make sure one is completing the legal requirements for business.

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McKissack & McKissack legacy

The McKissack’s firm legacy dates back to her great-great grandfather Moses a skilled brick maker originally coming as slave in 1790 to U.S. His brick-making skills were passed down and cultivated from generation to generation. This prompted two of his grandsons to create a construction company in Tennessee, also called McKissack & McKissack.

The company which is based out of New York , remains in the family, and run by McKissack’s twin sister Cheryl.

Deryl McKissack was motivated by a desire to strike out on her own, and to see more Black women CEOs in the construction industry. She withdrew $1,000 from her savings account and launched her company in 1990. As per a report, today, Deryl McKissack’s company brings in between $25-$30 million per year, and manages $15 billion in projects with offices in Chicago, Dallas, Los Angeles and Baltimore.

McKissack says, ‘I had this burning passion … that I just had to do this’

Entrepreneurial journey McKissick

McKissack left an engineering job with a six-figure salary to launch her company, and quickly learned that even with a Howard University civil engineering degree and relevant work experience, attracting clients was difficult.

Lugging an old projector around, she presented slides of work she’d done for family members to help “sell my wares.” McKissack placed a job ad in the Washington Post, and hired an employee.

She had found it tough in the beginning, it took her almost 5 years to get her first $10,000 line of credit. Also she used her networking skills to land her company’s first project: doing interior work at her alma mater. McKissack and her lone employee did all the work themselves, with McKissack putting in 80 hours of labor per week, she says.

McKissack success story

One successful job led to another, and McKissack built a portfolio of work to show prospective clients. She applied for jobs as a federal contractor, getting her foot in the door to work on construction projects at the White House and U.S. Treasury building. Larger federal projects followed.

McKissack only paid herself $7,200 her first year in business, she says. Her second, $18,000. She finally paid herself a $100,000 salary after roughly ten years, she adds, prioritizing paying her employees over herself along the way.

McKissack says, ‘I haven’t made it until more Black [people] have made it’

Global construction industry

The global construction industry is projected to be worth $13.9 trillion by 2037, according to a 2023 report from market research firm Oxford Economics. Yet women still make up only 1.4% of construction CEOs worldwide, and Black women account for a fraction of that.

Despite the identical company names, McKissack and her sister do run separate businesses, but they’ve collaborated on several projects, and often “trade notes” with each other, she says.

A healthy support system is rare for most Black and women construction executives, largely because so few of them exist, McKissack says. Last year, she founded AEC Unites, a nonprofit that provides professional opportunities for Black talent in the architecture, engineering and construction industry.

She hopes, her daughter a bioengineering student at New York University could become the sixth generation of McKissacks in the construction industry.

“I tell her all the time that all roads lead to McKissack,” she says. “And I don’t care how she gets there.”

The post From $1,000 to $25M: Journey of Deryl McKissack, CEO of McKissack & McKissack appeared first on Industry Leaders Magazine.

The 30-year-old is the CEO of TriCore Panels, a family business her dad started in 2012 that creates metal, wood and concrete paneling for the walls used in construction projects.

Road to being female CEOs in construction

Her dad previously worked as a car salesman but got his contractor’s license to renovate the dealership after he was given a quote he thought was too high. Taking over her father’s company and becoming part of the mere 10% of women in construction was not something Misha had dreamed of. Misha Homara became a licensed cosmetologist after high school until a car accident left her unable to be on her feet for too long.

As per Misha her dad had just started his company, and he said, ‘Why don’t you come to work for me?”

Never one to turn down a challenge, she walked through the doors of TriCore Panels in 2014 and unknowingly into the career she was meant for. At first, she helped around the office a few days a week but as she learned the ins and outs of the business, her role began to grow.

Homara changing TriCore’s company culture

 She also saw an opportunity to make a difference: She and her dad could shift the share of women in the construction workforce, starting with his small business.

Over the next few years, Homara worked her way up from being the office manager. She learned about what goes into builds and worked with superintendents and foremen in the field to develop the company’s safety structure. She took on project management work and built out TriCore’s company culture. A culture where she aimed to empower employees to listen, innovate and develop their careers.

At the same time, Homara took a full college course and graduated with communications and media degree from San Francisco State University in 2018. She credits her communication skills for becoming the first CEO of TriCore in at the age of 26.

Misha Homara grew TriCore

It wasn’t long before Misha began winning multi-million-dollar projects and in less than five years, she expanded the organization by more than 20 employees. She implemented an EOS, an Entrepreneurial Operating System, designed to give team members structure, and more ownership over their projects.

Her dad previously acted as president but did not establish a formal executive board. He is no longer with the company but remains a mentor in many ways.

Women in construction

“In construction, it’s a lot of yelling and hostility and aggression,” Homara says. As a young woman in the field, “I’ve been told so many times, ‘You don’t fit the mold of someone in construction.’ I have more of a conversational style of understanding and developing [relationships].”

Homara leans on being a construction outsider as a strength. While construction sites and offices can be intense environments, she brought a sense of calmness ad clarity to the work. In turn, the team dynamic shifted from being mostly task-oriented to one where people have opportunities to collaborate and innovate on larger projects, she says.

Support network of women in construction

As CEO, Homara says she splits her time securing and growing new industry partnerships, as well as fostering an inclusive and collaborative environment for her team to succeed together.

As a leader, she says she remains curious and humble in asking about what she doesn’t know. She also relies on a support network of women in construction organizations and other mentors. Homara is part of the board of directors for the Silicon Valley chapter of the National Association of Women in Construction, and she’s communications chair for Women Construction Owners and Executives.

“It’s not possible to do anything alone,” she says. “Find the people that believe in you, and then ask them questions, even if you feel like they’re like silly questions.”

Getting more women in construction

As CEO, Misha Homara is invested in getting more women in the construction field. Her next goal is to ensure that the staff of TriCore Panels, which is currently just under 50 people, moves from 30% women to 50% women in the next five years.

Reaching that goal will take work. “It doesn’t just happen,” Homara says. “You have to intentionally focus on educating and working with teams and different trade partners that want to develop women” in the field. This includes investing in education for a construction careers through free, hands-on workshops, community events and apprenticeships.

Homara recently hosted several events for “Women in Construction Week” in mid-March, including inviting people to experiment with AutoCAD design software and to see their CNC machine, which is like a super-powered drill and carving machine controlled by a computer, in operation.

Increasing women in construction

Women have made strides in the construction field since 2016, when they comprised 12.5% of the industry. Some areas have even higher representation of women in construction. There is 17.6% in Washington D.C., 15.6% in Arizona and 14.5% in Florida, as per a analysis from The Washington Post.

As per labor experts there are many factors, including record low unemployment and initiatives from industry associations to increase training for women in construction, remove hiring barriers and better support women on worksites.

CEOs and leaders have seen the big benefits. There are fewer mistakes, greater attention to detail, better multitasking, higher safety standards and a different communication style, to name a few, as per Homara.

Getting girls and young women interested in the field requires more effort from schools. They need to introduce opportunities in the trades and career potential in construction.

Growth in construction field

The field has staying power with long-term job growth, and it can be lucrative. The highest-paying construction job, chief estimator, can command up to $171,000 per year, according to ZipRecruiter.

Gender diversity and pay in construction is also less pronounced, though it still exists. As of 2019, women in construction were paid an average of 99 cents for every $1 paid to a man. This compared with the U.S. average pay gap of 81 cents paid to woman for every $1 paid to man.

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