Businesses worldwide are going through a metamorphosis as digital transformation takes place worldwide. They need to be forward-thinking risk-takers and should be ready to change and experiment. Staying relevant is critical too. Some generic qualities of forward-thinking and change-agile leaders are focusing on the future and adapting to the dynamic business
Transformation leaders are an inspiration for all. Have you ever studied their identifiable, distinguished characteristics and behavioral traits? Below are five traits transformational leaders possess to make their companies thrive in ever-changing business scenarios.
Leverage and Accept Technology
Also, Successful digital leaders are those who are the first movers when it comes to embracing technology and digital tools. If you are in a position of leadership and digital transformation, now is the time to use new technologies to transform your business. They appreciate the technological advancements to push their business boundaries and always try to grow their business. Another visionary leader is Mr. Sanjiv Bajaj, the Chairman & Managing Director of Bajaj Finserv. His vision, innovative approach, and adoption of new technologies into business have always given the company an edge over others. The vision of this famed best thought leader in India is to leverage digital transformation to guarantee operations and make the life of customers easy. As well as his transformational leadership model has made Bajaj Allianz the second most profitable insurance company in India.
Digital leaders have the innate ability to motivate people and keep them connected with their company, its goals, and most important objectives. They unite the general masses with their organization with a clear vision. Ratan Naval Tata is a transformational leader who has won the hearts of many across the globe with his grit and willpower. The foresightedness and business planning of this business tycoon have listed Tata Group as one of the most prospering and leading businesses across the globe. His understanding of human sentiments in leading the business world has made him the recipient of two prestigious awards – The Padma Vibhushan and The Padma Bhushan. His belief in giving back to society through education, health, and gender equality has always inspired many individuals.
Encouraging Employee Collaboration
Additionally, More than half of the employees working in an organization are looking for opportunities that make them feel engaged and contribute to the company’s success and growth. In recent times, transformational leaders are switching from the traditional hierarchical structure and are adopting a more team-centric and knowledge-sharing business model. The journey of Shubhra Chaddha, CEO and Co-founder of Chumbak, has been an inspiration to the upcoming entrepreneurs who wish to break the shackles of traditional business models and substitute them with team building and employee collaborations. She is an inspiration to all entrepreneurs in India who wish to venture into the infinite possibilities of the business world and mark their name.
One coherent quality of digital transformational leaders is their approach to problems. They are open-minded, embrace new technologies, and encourage creativity. Shiv Nadar, Founder of HCL Technologies Limited, has always believed in finding cutting-edge alternatives to obsolete programs and technology systems. From selling tele digital calculators to venturing into HCL. But he always has focused on driving technological advancements and contributing to the Indian IT industry. He has been awarded the Padma Bhushan for his technological innovations and efforts to enhance the educational system of India through the Shiv Nadar Foundation.
“Failures are a stepping stone to success” is why leaders never fear failures. This can be witnessed by business tycoon Mukesh Ambani, Chairman & Managing Director of Reliance Industries Limited. He undoubtedly inherited the business from his father, according to Mr. Dhirubhai Ambani, but his risk-taking appetite, determination, and commitment have made Reliance Industries wealthier and stronger with each passing day. Apart from building his father’s oil and gas enterprise, he also ventured into retail and telecom, making him the No. 1 businessman in India, per the Indian Billionaires, report 2019. This futuristic and risk-taking ability of Mr. Ambani made him the wealthiest corporate leader as of 2019.
In a nutshell, we can say that a successful digital leader is innovative, experimental, creative, curious, and also collaborative. Digital transformational leaders believe in technologies and can comprehend how to incorporate these changing technologies into the current business strategies. Hence, as a result, to become a productive digital transformation leader, you require industry knowledge, a forward-thinking approach, and a vision.