How to be a Good Leader?

Do you know the difference between a manager and a leader? According to Dr Alex Maritz, managers survive, leaders innovate. So, what do you do?

The rapidly changing global scenario—defined by global competition, rampant change, faster flow of information and communication, increasing business complexity and pervasive globalisation—exerts many pressures on Australian businesses. Some may see these as threats and hurdles, while others view them as opportunities.

Let’s identify some of those entrepreneurs that used this complexity to their advantage (a full list of the Dynamic Business 50 Favourite Entrepreneurs is in the July 2007 edition). Wotif founder Graeme Wood marketed online discounted accommodation by creating higher customer value and radical technology innovation. John Ilhan of Crazy John’s fame is now the largest independent phone retailer in Australia having created new adaptable business models and providing customer intimacy. Tom Potter of Eagle Boys, Tim Pethick of Nudie Juice, Dr Peter Farrell of Resmed, Mark Bouris of Wizard Home Loans, Andrew and Paul Bassat of Seek, and Graham Turner of Flight Centre, all adopted market-leading strategies, defying traditional strategies of just merely staying alive in business. They may not necessarily be the largest in their market, but are most certainly leaders.

But what competitive strategies did these entrepreneurs implement? Let us first identify what competitive strategies are. Competitive strategy means deliberately choosing a different set of activities to deliver a unique mix of value. These activities are the basis of your competitive advantage.

New Survival Strategies

In today's tidal wave of global economic, technological, and social change, the name of the game for your company is survival, and you’re not going to survive in this new economy through technology innovation alone.

Many believe that, to have a better chance of success, organisations need to engage the energy, creativity and intelligence of the whole workforce and involve other stakeholders, such as customers, suppliers, investors and the community.