Article by SSBM Geneva professors Dario Silic, PhD, and Mario Silic, PhD.
In today’s fast-paced and interconnected world, effective leadership demands not just expertise in a specific field but also the ability to adapt strategically, communicate effectively, and manage crises. As the 2024 U.S. elections unfold, the strategic methods employed by candidates Donald Trump and Kamala Harris provide valuable insights for aspiring business leaders. This article examines how studying their strategies can enhance the understanding of students at the Swiss School of Business and Management Geneva, where MBA programs focus on developing essential skills for tackling global business challenges.
1.Strategic Communication: Clarity and Adaptability
A key trait of effective leadership is the ability to communicate clearly, and both Trump and Harris showcase this in their own distinct ways. Trump is recognized for his straightforward and often provocative communication style, which delivers a bold clarity that resonates strongly with his supporters. While this approach can be divisive, it reflects a consistent branding and messaging strategy that fosters loyalty. In contrast, Harris employs a more nuanced and empathetic style, emphasizing inclusivity and appealing to a wide-ranging voter demographic.
SSBM Connection
SSBM’s MBA programs highlight the critical role of communication in leadership. Courses focused on executive management and global communication strategies equip students with the skills to refine their messaging, adjust their tone according to the audience, and navigate complex multicultural environments. These competencies are vital not just for political figures but also for executives leading diverse teams across different regions.
Example Application:
During a crisis, an executive faces the choice between delivering direct, transparent communication and adopting a more measured, empathetic tone. This decision can significantly impact customer loyalty and the potential for reputational harm.
2.Leadership Styles and Influence: Inspiring Through Example
The election campaign showcases different leadership styles that offer valuable lessons for future executives. Trump’s method highlights confidence and self-promotion, traits that appeal to those who favor bold, authoritative figures. On the other hand, Harris’s style focuses on inclusive leadership, aiming to empower her team and promote collaboration.
SSBM Connection
SSBM’s curriculum equips aspiring leaders to recognize and implement various leadership styles based on their organizational environment. Leadership courses emphasize self-awareness, cultural intelligence, and adaptability, enabling students to cultivate a genuine leadership style that reflects their values and meets their teams’ needs.
Example Application:
A leader in executive management might take a more authoritative stance during a corporate restructuring, while a collaborative approach could be more suitable for team-building activities.
3.Executive Decision-Making and Critical Thinking in Crisis
Both candidates have encountered crises, and their reactions have significantly influenced their public image. Trump’s quick and sometimes impulsive decisions, particularly in trade negotiations and regulatory policies, showcase the advantages of rapid decision-making. In contrast, Harris’s emphasis on inclusive problem-solving highlights a more deliberate and collaborative approach.
SSBM Connection
SSBM’s MBA programs incorporate critical thinking and executive decision-making exercises, equipping students to thoughtfully manage high-pressure situations. Courses focused on crisis management provide students with frameworks for swiftly analyzing problems and making sound decisions under stress. These programs also stress the importance of reflecting on one’s decision-making style, a crucial skill for leaders navigating complex, high-stakes environments.
Example Application:
During a corporate crisis, executives need to make quick decisions while balancing urgency with careful risk assessment—a skill that SSBM’s programs are designed to develop.
4.Managing Public Image and Building Resilience
A key takeaway from the election is the significance of resilience and public image. For example, Trump’s brand revolves around resilience and the ability to turn controversy into a strength. In contrast, Harris focuses on cultivating a positive public image by highlighting her background and values, often portraying herself as a symbol of progress. These approaches highlight the critical role of resilience and strategic image management in contemporary leadership.
SSBM Connection
At SSBM, students are taught the essentials of brand management, resilience in leadership, and image building – skills that are vital for leaders in today’s global economy. By exploring these strategies, MBA students gain valuable insights into developing their own personal and professional brands, enhancing their effectiveness as leaders in the business landscape.
Example Application:
In the digital era, a CEO’s personal brand can significantly influence the public perception of their company. Leaders who excel in managing their public image, as emphasized in SSBM’s curriculum, are better prepared to navigate scrutiny and build positive reputations for their organizations.
5.Preparing for a Globalized Economy: A Broader Perspective
As candidates address the intricate dynamics of a globalized economy—covering trade policies, international relations, and technological advancements—their strategies underscore the necessity of a global viewpoint. Both Trump and Harris have pushed for policies that affect international trade, supply chains, and technological development, illustrating the deep interconnection between the U.S. economy and global markets.
SSBM Connection
SSBM’s MBA programs offer a distinct global perspective, featuring modules on international business strategy, digital transformation, and sustainability. By delving into topics like the effects of globalization on business, students gain the skills to navigate and capitalize on international market dynamics, making them valuable contributors in the global economy.
Example Application:
A business leader managing operations across various regions must grasp not only local market conditions but also the wider implications of international trade policies. SSBM’s MBA curriculum provides students with this essential knowledge, equipping them for the challenges of complex, multinational environments.
The next U.S. president will face several significant macroeconomic and social challenges:
1.Inflation and Monetary Policy Adjustment
Inflation continues to be a major concern, affecting the daily expenses of consumers and businesses alike. While the Federal Reserve is primarily responsible for managing monetary policy, the president’s fiscal strategies – such as tax laws, spending initiatives, and measures to stabilize supply chains – can also play a role in influencing inflation. A key challenge will be finding the right balance between fostering economic growth and maintaining price stability, particularly in high-demand areas like housing and energy.
Key Challenges:
2.Federal Debt and Budget Deficits
The U.S. national debt has exceeded $33 trillion, raising alarms about fiscal sustainability. High debt levels can affect U.S. credit ratings, future interest rates, and budget allocations for vital programs like Social Security and Medicare. The new president will need to explore options for spending cuts, revenue generation, or reform initiatives to tackle this pressing fiscal issue without stifling growth.
Key Challenges:
3.Labor Market Imbalances and Workforce Development
The labor market in the U.S. is currently grappling with a dual challenge: a shortage of talent in key industries and an oversupply of workers in areas affected by automation and outsourcing. The ongoing skills gap is particularly evident in fields such as technology, healthcare, and skilled trades. To ensure continued economic growth, it is crucial to invest in workforce development and enhance education in these high-demand areas.
Key Challenges:
4.Energy Policy and Climate Change Initiatives
Climate change and energy policy are still at the forefront of discussions. With global commitments to cut carbon emissions, the U.S. must confront its own environmental footprint and energy sources. Striking a balance between investing in clean energy, enhancing infrastructure, and adopting sustainable practices while fostering economic growth will be a challenging yet crucial responsibility for the new administration.
Key Challenges:
5.Health Care System Reform
The rising costs of healthcare and issues with accessibility continue to impact millions of Americans. The pandemic has exposed weaknesses in the healthcare system, leading to ongoing discussions about expanding access, controlling costs, and leveraging technology for improved health outcomes. Reforming healthcare amidst political divisions will be a significant challenge for the next administration.
Key Challenges:
6.Global Trade Relations and Supply Chain Resilience
Disruptions in global supply chains, worsened by trade tensions and geopolitical conflicts, have affected U.S. industries and consumers alike. The next president will need to stabilize relationships with key trade partners such as China, bolster domestic supply chains, and safeguard critical sectors like semiconductors and pharmaceuticals from global uncertainties.
Key Challenges:
7.Affordable Housing and Homelessness
Soaring housing costs and a lack of affordable housing options have placed immense pressure on low- and middle-income families. This issue is especially acute in urban areas, where homelessness has risen over the last decade. The next president will need to focus on housing policies that enhance affordability, tackle homelessness, and promote sustainable development.
Key Challenges:
Conclusion
The 2024 U.S. presidential election presents numerous lessons for aspiring business leaders, covering aspects such as communication tactics, crisis management, and the importance of resilience. For students at the Swiss School of Business and Management Geneva, examining the campaigns of figures like Trump and Harris offers valuable insights into contemporary leadership. SSBM’s MBA programs aim to provide students with the essential skills needed to thrive in a globalized economy, enabling them to lead with vision, adaptability, and resilience. By incorporating these political strategies into their professional skill set, SSBM graduates are well-equipped to tackle the challenges of today’s ever-changing business environment.
The next U.S. president will encounter several significant macroeconomic and social hurdles. A primary focus will be managing inflation while ensuring economic growth does not stall, which will necessitate fiscal policies that align with Federal Reserve initiatives. The escalating national debt also requires urgent attention, as substantial deficits can affect U.S. credit ratings and future fiscal health. Labor shortages, especially in technology and healthcare sectors, underscore the necessity for workforce development and immigration reform. Energy policy will be crucial, as it must strike a balance between investing in clean energy and achieving energy independence. Reforming the healthcare system will be vital as well, with an emphasis on expanding access and lowering costs. Furthermore, stabilizing trade relations and bolstering domestic supply chains will be key to reducing global disruptions. Issues like affordable housing and homelessness continue to be urgent, particularly in urban settings, necessitating both policy initiatives and public-private partnerships to enhance access.