What are the key elements of leadership you would need to be successful in a business venture?

Expert Answers
thanatassa eNotes educator| Certified Educator

The key elements of leadership you need to succeed in a business depend on the nature of the business field, the culture of the particular business, and the particular local situation and culture in which the business is embedded. For example, success in managing the division of a large defense contracting company requires more attention to careful crafting of policies and procedures and emphasis on regulatory compliance than running an advertising agency that requires stimulating creative outside the box thinking. Leaders in academic environments should be expert in building consensus whereas leaders in sales might need to be charismatic and inspirational. Leadership in small entrepreneurial organizations needs to be visionary whereas larger, older organizations may requiure more attention to detail and due diligence. Different styles of leadership are appropriate to different countries as well, with some being more authoritarian and some more consensual.