When discussing the topic of leadership, one of the first questions many people ask is ‘what makes an effective leader?’ This is a difficult question to answer in just one blog post, as high quality leadership requires such a multifaceted approach. Instead, I thought I would share some insights to my leadership journey and the most valuable lessons I have learnt along the way.

My leadership journey

So what has shaped my leadership journey to this point? Firstly, I have been fortunate to have studied and worked in some very successful institutions, in both academia and industry. To give just two examples, I worked for many years at Macquarie Bank, a very successful, global financial institution, and I undertook my PhD at Stanford University, where I was very fortunate to have a Nobel Prize-winner as my supervisor. In both cases, I was able to observe what a difference highly effective leadership is able to make.

In terms of my leadership style, I aim to be consultative as my experience has been that good ideas exist at all levels of an organisation. There is certainly no monopoly on ideas in the Dean’s office! It is nevertheless necessary for those with formal leadership responsibilities to set out a vision for their institution, and to ensure it is delivered upon. Good leaders know that decisions have to be made, and responsibility taken for them.

My most valuable leadership lesson

One of the most valuable traits for an effective leader to have is a willingness to learn. The pace of change in academia and business is very fast today, and there is no guarantee that approaches and ideas that may have been successful in the past will remain so. You are most likely to learn if you surround yourself with talented, articulate colleagues, and if you listen to them. Other required traits include time management, flexibility, a strong worth ethic, and a sense of humour.

Throughout our careers, both early on as we are being managed and further along as we become leaders ourselves, there are many valuable lessons to learn along the way – both what to do, and sometimes what not to do! My most important leadership lesson is taken from the Peter F. Drucker quote “management is doing things right; leadership is doing the right things”. Leadership typically involves forming strategies and developing an overarching vision, while the technical issues of management are more about the successful execution of those strategies and visions.

Success requires both leadership and management. A focus on one to the exclusion of the other will result in either a poorly developed or inappropriate strategy, and/or a strategy that never gets delivered upon at all. Having a clear vision is only part of the picture!

This lesson has helped me become a better leader, as it indicates where I should spend my time, and from whom I should seek advice, especially when it comes to the technical and logistical issues around strategy execution. Hire good people, who know what they are doing, and listen to them.

Others can benefit from this lesson by thinking about whether a given situation calls for leadership or management, using the definitions above. Senior executives will need to be skilled at both.

Leadership at the UWA Business School

Here at the UWA Business School we aim to teach leadership skills across all of our courses. Programs with a specific focus on leadership include our MBA Full Time program, which offers a personalised leadership development program and an optional leadership specialisation. The School also offers a Graduate Certificate in Leadership, helping graduates build high-level leadership skills to motivate and inspire the people around you.

With any skill in life, becoming an effective leader is a life-long learning process and progression. As we continue to grow and learn, we ultimately become better leaders. It is imperative for the leaders of today to constantly evolve and gain new skills, and these traits are what we aim to build into our students.