Delegation is an important skill for any leader. The ability to delegate tasks effectively can mean the difference between a successful team and an unsuccessful one. However, many leaders only delegate tasks, and not authority. This can be a mistake, as it can lead to a situation where the leader is the only one who has the power to make decisions. Private equity firms often look for leaders who are competent at delegating both tasks and authority. This allows them to see how deep the delegation goes, and whether or not the leader is truly committed to empowering their team. When done correctly, delegation can be a powerful tool for any leader.
Leaders are often so busy putting out fires and dealing with pressing issues that they forget to take time for themselves to think. However, this is the one area of their job that they cannot delegate. In today's world of volatility, uncertainty, complexity and ambiguity, it's more important than ever for leaders to make thinking a priority. By taking some time each day to reflect on the situation and come up with creative solutions, leaders can stay ahead of the curve and avoid being reactive instead of proactive. Additionally, regular reflection can help leaders avoid making impulsive decisions that they may later regret. So next time you find yourself in the middle of a whirlwind, take a step back and give yourself some time to think.
By Dean Miles
Keywords: Business Continuity, Business Strategy, Management