It is evidently clear from the discussion that the current competition in the business world needs business leaders who can come up with modern ideas of business administration because things have changed and the more a business leader turns innovative, the more the business becomes competitive in the market. The CEO of “ Intuit” , Brad Smith, brings out an example of innovation. “ Intuit” is an organization that provides mid-sized businesses, institutes of finance, consumers, and accountants with solutions to financial management. Through his innovativeness, Intuit’ s CEO brought the idea of the consumer tax- preparation software that has substituted the traditional methods of financial management.
Quick books and other financial management systems are most common in today’ s business world due to their effectiveness. It is only through being innovative that a business leader will come up with new business ideas that can improve the success of a business. Perseverance is the ability to withstand challenges. Any business leader who wishes to be successful has to be able to face any challenge they encounter. The competition in the market does not need a leader who would close their business in case they face challenges, instead of fighting back.
Anne Mulcahy, the CEO of Xerox Company displayed perseverance when the company was facing high economic inflation. The company was making very low profits but its expenses were relatively high. She came in as a CEO at this time when she had little knowledge about finances. When she asked for advice, her advisors told her to declare the company bankrupt. She instead chose to restore the company. Although the company had many debts and almost collapsed, even the advice given were all negative, she chose not to follow the advice and later rescued the company and restored it to its original status but under new management.
It calls for a lot of patience and perseverance for a business to succeed and if the leader lacks the quality, they will definitely quit.
Please type your essay title, choose your document type, enter your email and we send you essay samples