A true leader is one who has the courage to set ambitious goals for the team and the ability to achieve those goals intelligently. Great leaders help their team members visualise the same big dreams that they themselves see. And while he sets these goals, he realises them with the help of his team members.

A true leader must be fair to everyone he works with-employees, customers, and business partners. The goodwill he generates by being just and impartial always outweighs any perceived benefits of a biased decision.

Giving credit to team members for successes and being accountable for failures is another quality of a good leader. Recognising good performance and nurturing talent is always more beneficial for the employees as well as the organisation.

One of the pitfalls in most companies is a lack of transparency, which often causes dissatisfaction among employees. A good leader will ensure transparency in all matters. A policy of straightforwardness results in a motivated workforce and a positive atmosphere.

Leaders always take risks. They never hesitate to take decisions. The key to success is the ability of a leader to take unambiguous decisions, right or wrong. The need to act and implement practical initiatives quickly should take precedence over intellectual debates.

Leadership is contextual. There is no single leadership style that works everywhere. A successful leader adapts his or her style to the organisation and uses it for the company's and employees' benefit. A good leader, therefore, is one who understands the organisation and its employees, creates goals accordingly and executes them effectively.