Question 1.

1. What are the key leadership characteristics needed to sustain a business initiative?

Strategic thinking with respect to markets, competition and internally competitive advantages are needed to position the business in the best position for the future. Communication skills, both internally and externally are needed to promote vision and mission in a consistent way. Ability to delegate authority and build trust in the organization; these actions build a strong culture.

I also think promoting an entrepreneurial culture is important to keep an organization on their toes with respect to advancing products to meet the changing requirements of the markets. This culture will be tolerant of mistakes and accept those made in the wake of continuous improvement. Focuse will be aimed at problem solving and not placing blame.

I like to point out our case study this class on Coca Cola; in his speech to 50 annicersary of the founding of Coca-Cola, Woodruff stated that feeling of success and the need to pat oneselve on the back for a job well done are in his opinion the most dangerous thoughts ever facing their organization. His attitude kept alive those driving forces which brought the company to that point in their history, and propelled them to even greater heights.