Australian executives believe they are good at leading by example but are less confident in creating a clear vision and strategy for the future, according to a survey undertaken by the Australian Institute of Management and the Department of Management at Monash University.
Results of the Australian Business Leadership Survey of 2,376 senior executives, one of the largest of its kind undertaken in Australia, were released today. The survey found that:
- There are serious deficiencies in the resources and time many companies are prepared to invest to achieve strong and innovative workplace cultures;
- Recognition that innovation is a cornerstone of competitiveness remains weak, although the intention to be competitive is strong;
- Socially responsible leadership is perceived to be a common strength, but leadership vision is "slipping away";
- Industry types most associated with higher levels of innovation include building construction, banking and finance and manufacturing, with government-associated organisations registering the lowest levels of innovation;
- Small to medium sized organisations (500 or fewer employees) reported the highest levels of innovation and other culture dimensions;
- Not-for-profit organisations recorded the highest level of visionary leadership compared with all other categories;
- Transformational leadership, with a focus on inspiration and motivation, is positively associated with organisational innovation but there are challenges in converting this into a real workplace; and
- Key issues impacting leadership are government policy and intervention and internal human resource issues.
The survey is the third study in a five year series aimed at identifying the leadership styles of Australian executives, their perceptions of organisational culture, and responses to current issues related to leadership performance.
