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What’s the Right Leadership Style for Your Organization?

A September 1, 2008, article, “Shared Leadership Offers Edge,” discussed the power of collaborative leadership. The article profiles the leadership style at a Chicago-based financial services firm, Wrightwood Capital.

Wrightwood’s leaders have determined that collaboration, rather than command and control, is the best approach to running the firm. They encourage collaboration by enabling open communication about goals and results and breaking down communication silos. “We try to break down the silos of communication that only go up and down,” says Jason Choulochas, Managing Director of Investments.

The managers grew to favor a shared leadership style after having run an organization where communication and information flow was limited, and most decisions were made at the top.

Some key observations were made, prompting us to ask some important questions:

First, leaders have to realize that the way they have been leading and managing might not be appropriate going forward.

• When was the last time you did an assessment of your leadership style?
• Has your organization outgrown whatever style you employ?
• In order to take your organization to the next level, do you need to empower more people?
• If you move decisions “closer to the point of customer contact,” are you in a better position to win?
• Have you looked at the people in your organization to ensure that the leadership style fits not only the goals, but also the individuals?

The other observation that bears thought is: “Leadership, by definition, is putting the organization ahead of you and everyone else,” says Bruce Cohen, Chairman and Chief Executive.

• Do you and others in your team put the team ahead of individual glory and enrichment?
• Is there both an understanding of goals and a shared sense of purpose toward their accomplishment?
• Are you ready to make the changes necessary in yourself and your organization to push toward those unifying goals?

Leadership style, like the organization itself, should be dynamic. In order to continue to grow and prosper, it is necessary to periodically re-evaluate and, when appropriate, change.

As a leader, are you ready for this challenge?

This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.