Millions of businesses are established every year. Only a small number of those are successful, and a microscopic amount of that portion go on to have international success. The reason for international success often comes down to one ingenious idea or person. Here are some of the best business decisions made in recent years.

Bringing back Steve Jobs (Apple)

Steve Jobs founded Apple with Steve Wozniak in 1976. They began selling Wozniak’s Apple I personal computer, before achieving massive commercial success with the Apple II, which was considered a ground-breaking development in personal computer technology. However, by the mid-1980s, Apple was struggling, and Jobs was forced out of the company by then-CEO John Sculley.

Later that year, Jobs founded NeXT, a computer platform company that specialised in higher education computer use. Over a decade later, Apple acquired NeXT, and Jobs again became CEO of the company in a matter of months. He revived Apple, which was on the verge of financial ruin and began developing a range of revolutionary products that have changed the world.

Revolutionary training clinics (General Electric)

Jack Welch was the Chairman and CEO of General Electric (GE) from 1981 to 2001. His approach to streamlining business efficiency and training has been applauded and criticised. However, its success for the company cannot be disputed. Every year, Welch fired the bottom 10% of managers, regardless of their performance, while rewarding the top 20% with bonuses. He removed the hierarchical management structure and brought in casual informality, mixed with competitiveness and drive. The result? GE grew from $12 billion in 1981 to over $410 billion in 2001.

Saturday morning meetings (Wal-Mart)

Sam Walton founded Wal-Mart in 1962. Wal-Mart has since grown to become the largest private company in the world, based on revenue, which was $523 billion US in 2020. Walton innovated conventional business practices in a variety of ways; however, one of his most crucial innovations was holding Saturday morning meetings with all employees. This led to a positive culture of inclusivity, where all information was shared.

If you’ve studied any course on management theory or leadership models, then you’ll know full well that there are many different approaches to leadership. Each style is designed for different scenarios or management hierarchies; however, there is a lot of evidence to suggest that the following 3 methods are the most successful, regardless of circumstance.

Collaborative leading

Leading by collaborating with others is a handy leadership tool, one that allows you to extract the maximum value from your workers. It’s important for your workers to feel valued and appreciated. Collaborating with them directly in close-knit teams enables you to draw from meaningful insights and ideas they might have about the business’ strategic direction. The Chief Operating Officer of Facebook, Sherly Sandberg, is widely regarded as one of the most famous collaborative leaders.

Leading via consensus and democracy

The second leadership philosophy is referred to as “consensus leading”. Instead of the business leader (CEO, manager, etc.) making decisions with little input, consensus leading would see that same leader gather their teams and take a vote. Much like a democracy, the majority rules. This decision-making style is valid in terms of bolstering corporate culture and making everyone feel included; however, there are some noticeable drawbacks. What happens if you have a 51-49 split? It’s not exactly a substantial majority and moving forward with the decision could see a lot of workers distressed or disappointed.

Command, authoritative leadership

Sometimes known as an autocratic style, a commanding philosophy to leadership is the direct antithesis to the consensus style. In an authoritative management framework, teams are not consulted, and the top executives make the decisions. This can be quite toxic; however, it isn’t always negative. Some sectors and business styles require an authoritative mode of leadership. For example, military forces maintain their commitment to the chain of command, which sees a delegation of tasks and authority based on rank and posting.

Everyone aspires to be a great leader, regardless of the context or situation. Becoming a leader takes time, patience and persistence. Some people come equipped with natural leadership; however, that doesn’t suddenly make them perfect leaders. If you think your leadership acumen needs some refreshing, here are some vital leadership takeaways from some of history’s best leaders.

Humble sacrifice – Nelson Mandela

Nelson Mandela was a visionary leader. He was imprisoned for decades, yet when released preached a message of forgiveness and respect. He was the first South African President to be democratically elected (in fair elections). He helped move the country out of the apartheid era, and his policies were committed to peace and prosperity. He had to sacrifice to achieve his goals.

Courage and determination – Rosa Parks

Rosa Parks is a seminal figure in the 1960s civil rights movement. She famously refused to give up her seat on the bus or comply with the racial segregation policies administered on public transport in Alabama. Her defiance reflected her courage and passion for racial equality, which has made her an icon in the civil rights movement.

Persistence and unity – Abraham Lincoln

As the first Republican President of the United States, Lincoln was instrumental in the signing of the Emancipation Proclamation, which precipitated the abolition of slavery in the United States. Lincoln kept the nation together, even when the Civil War threatened to rip the country apart. His leadership is a potent reminder that leaders, of all creeds and followings, must remain steadfast in their convictions.

Innovation and creativity – Eleanor Roosevelt

Eleanor Roosevelt was the First Lady of the United States when her husband, Franklin D. Roosevelt, was the 32^nd President of the United States. She redefined the role by taking an active part in political and social concerns. She continued her humanitarian efforts by assisting in the development of the Universal Declaration of Human Rights in 1948.