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Core Leadership Competencies in Business [Infographic]

Are you motivated to become a leader in the business world? Do you have what it takes to manage a team of highly skilled and driven individuals toward reaching their professional goals?

Our Lady of the Lake University’s infographic highlights the most sought after competencies in business leadership. Find out where you stack up against the competition and identify your current strong points or areas where you may need to improve. These competencies include:

  • Executive communication
  • Resource planning
  • Influence on peers

Core Leadership Competencies in Business

What does it take to be an effective business leader? Explore some of the core competencies that define today’s top leaders.

Executive Communication

Use of verbal and non-verbal skills to express ideas clearly and build common understanding.

  • A survey of 400 companies with 100,000 employees found that inadequate communication resulted in an average loss per company of $62.4 million per year.

Resource Planning

Align resources, assign roles, and delegate accountability to accomplish key objectives.

  • The Harvard Business Review found that 1 in 6 IT projects had a cost overrun of 200%

Influence Peers

Inspire and motivate others to act in accordance with organizational vision.

  • U.S. organizations spent $14.5 billion on leadership development programs in 2013.

Strategic Perspective

Balance the tension between tasks and strategic actions that impact long-term viability and success.

  • 88% of organizations say that executing strategic initiatives successfully will be essential to their competitiveness in the future.

Relationship Building

Work across departments to build collaborative relationships and gain organization-wide buy-in.

  • 86% of executives cite lack of collaboration or ineffective communication for workplace failures.

Develop and strengthen the competencies you need to be an effective leader with Our Lady of the Lake’s online MBA.

References

  1. www.ccl.org/blog/leadership-competencies-most-important-for-leading-the-function/
  2. www.holmesreport.com/latest/article/the-cost-of-poor-communications
  3. www.gallup.com/businessjournal/152429/cost-bad-project-management.aspx
  4. www.bersin.com/News/Content.aspx?id=17488
  5. www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/why-good-strategies-fail-report.pdf
  6. www.blog.clearcompany.com/7-workplace-collaboration-statistics-that-will-have-you-knocking-down-cubicles