BizBites by Ethique Advisory

A recent survey showed that 71% of businesses still feel that their leaders aren’t ready to guide the company into the future. It is an alarming statistic, given the role effective leaders play in developing an organization’s culture and growth. It is causing many leaders to re-evaluate their current methods to become more effective. But what traits do effective leaders possess that separate them from the rest?  And how can you be an effective leader?   Who is a Leader?  Leaders exude influence over peers and subordinates, enthusing them to achieve a company or a team goal and work cohesively as a team. Regardless of the title, leadership is a mindset in action. Leadership is not a mantle to be handed out. Leaders earn their position because of their competency to inspire those around them, focus on the organization’s objectives and work to maximize the firm’s value.  Who are Effective Leaders?  From Steve Jobs to Jeff Bezos, effective leaders empower their...

Have you ever heard of an entrepreneur starting a company to make ends meet rather than profit? Not! Every entrepreneur aspires to be in the most prosperous phase of the economic cycle. It's a great dream but making it a reality is another story. Businesses begin with BHAG goals and a vision for success. Growing a firm requires the right intellectual assets, strategic partnerships, services, or goods that address unsatisfied customer needs or fulfill a demand gap in the market. A sustainable company model requires a strong operational foundation to decrease long-term risks. Understanding sustainable business growth and how it is measured should come first. What does "sustainable growth" actually mean? Business sustainability is the balancing act between growth and resilience. The kind of growth that a company can achieve practically without running into problems is sustainable growth. A business that grows too quickly can have trouble finding the money to expand. A busine...

What is Your Leadership Style? The Leadership Style of a manager significantly weighs on a firm’s performance. A study conducted across half a million firms showed that the top 10% of high-performing firms had managers and founders that scored in the top 20% in leadership effectiveness. In contrast, the companies that scored in the bottom 10% had leaders score in the bottom 30% of leadership effectiveness. Therefore, a company needs to evaluate its managers’ leadership effectiveness. For that, it is vital to understand the styles of Leadership. While there are several styles often discussed in this blog, we shall focus on two broad types that all leaders can we classified as Reactive Leadership & Creative Leadership. What are Leadership Styles? A leadership style refers to a leader’s approach when managing people/teams reporting to them. Leadership styles determine how managers execute the path to achieving the company objectives while meeting stakeholder expectations a...

  Is this the right decision to make? How often have you encountered this dilemma professionally or on a personal level? We all want to make the right decision. Entrepreneurs are no different. Here are some guidelines to prevent entrepreneurs from erring in making sound decisions Base your choices on your values:  Every successful business has a set of values that serve as a framework for employees to make decisions. Decide based on options consistent with your company's value sets. This helps narrow down the possibilities. Consult an expert -  An "expert" is the appropriate individual with knowledge and domain expertise.  Best Business coach in India  and industry experts make for an excellent option. One should explore both in-person advice and Research. Mind Mapping  - A visual method of organizing concepts and data is mind mapping. A mind map, which is a graph illustrating a major issue branching out to subtopics that elaborate on the central subject—in...

power of coaching In the past, Executives and Senior leaders generally preferred telling their employees how the business works to reproduce previous successes. The approach worked well in the past, but today, in a world filled with rapid disruptive changes, it no longer guarantees future success.  Twenty-first-century managers need to transition to using the power of coaching to lend support and guidance rather than issue instructions. They must learn to be nimble and adapt to constantly changing environments to unleash employees’ energy, innovation, and commitment through curiosity and a new perspective. In other words, leaders need to employ a coaching approach in their everyday job by asking questions rather than doing the telling. Different Managerial Styles In a recent study, 3,761 executives were asked to assess their own managerial and coaching skills and their direct reports were asked to evaluate them on the same skills. The results found that 24% of executives sign...

Leadership coaching Is a leader born or made? Quick answer” mostly made.” We all have inherent characteristics that define our skill set and aptitude. One’s agility in learning and adapting sets one apart from the rest. Leadership Coaching helps hone the natural ability while helping one understand what needs fixing to take the most challenging of battles head-on. The endless dedication, persistence, and hard work are all worth it when one becomes an inspiration for one’s subordinates and associates. What skills and abilities do all leaders – born or made – imbibe? What does it take to make a successful leader and business? Do you know of any successful athlete who made it to the top without a good coach behind him? Of course not! Athletes use coaching to enhance their game – sharpen their skills and techniques, and learn teamwork. They require coaching to maintain performance and thrive in a dynamic and competitive environment, even when they are at their best. For the same reasons, e...

Let’s take a fresh look at the two functions and their roles in an organization. Marketing: The go-to-market strategy decider. A company creates products or services to fulfill demand(s). The end consumer will know of it only once availability is communicated and how it addresses a specific need – implicit or explicit.  Business Development (BD) is the team that front-ends the Customer. They bring in ideas for new products, competitor intelligence, and needs in the market that the organization may be well equipped to address with new and unique products or services. They are the face of the company.  The two teams need to work in unison to amplify the messaging and for consumers to see the offering in the right light. It is critical for creating the personality of the offering in question- the positioning, needs it addresses, whom it’s meant for and what sets it apart from the rest. The BD team knows the Customer better, and the marketing Team knows the messaging better. The t...