In today’s fast-paced business world, successful leadership is essential for any company to thrive. That’s because leaders tend to be the driving force behind innovation, growth, and profitability. However, not all entrepreneurs and C-suite executives are created equal. Some possess a certain ability to inspire and motivate their teams, while others struggle to get their employees to buy into their vision.

Those who experience the most success are often admired for their ability to take their organizations to new heights and inspire employees to work toward a common goal. They have a vision for the future, a clear understanding of their strengths and weaknesses, and the ability to adapt to changing circumstances. But what sets them apart from the rest?

Here are five stand-out traits of successful business leaders that can help guide and inspire you to achieve your own organizational goals.

1. Strategic Thinking

Successful leaders think strategically and see the big picture. Moreover, they imagine what their business and the market might look like three to five years or even a decade ahead, thereby anticipating any obstacles, opportunities, and changes that can be impactful. They then create strategies to align people, processes, and resources with the organization’s goals; overcome any obstacles; and take advantage of the opportunities in front of them. Effective strategic thinkers also know how to develop contingency plans for risks and disruptions.

2. Effective Communication

In addition to taking thoughtful approaches, heads of companies are also great communicators. Case in point: Many have excellent communication skills that enable them to rally employees around a shared mission. Through memos, town halls, 1-on-1 meetings, and more, they consistently foster open and regular communication. This enables such leaders and managers to share wins and failures, which helps builds trust and motivation among employees. They also use these multiple channels of communication to listen proactively and gain insights from employees at all levels. By doing so, they’re able to explain strategies, objectives, and priorities to gain alignment and buy-in, as well as provide clarity to enable independent decision-making and action.

3. Accountability

The best leaders “walk the talk” as they model the culture, values, and behaviors expected of employees. Additionally, they demonstrate integrity, accountability, and a strong work ethic that sets them apart as trusted role models for the organization. One prime example is East West Bank chairman and CEO Dominic Ng. Since taking the helm in 1991, he has transformed the Pasadena-based bank into a successful global full-service commercial enterprise with his business acumen and innovative methods. In fact, there’s no better evidence of this than the sheer number of accolades bestowed on him over the course of the past three decades.

4. Integrity and Ethics

Successful business leaders possess a strong sense of integrity and ethics. They are honest, transparent, and ethical in all their dealings, and they hold themselves and their employees accountable to a high standard of conduct and success. This helps to build trust and credibility with stakeholders, which is essential for long-term success.

5. Growth Mindset

CEOs, entrepreneurs, and industry thought leaders also have a growth mindset and believe abilities and talent can be developed through effort and persistence. As such, they view feedback and mistakes as opportunities for learning. Additionally, leaders invest in continuous self-improvement strategies and employee development, all of which help the cultivation of individual and organizational talent and fuel innovation and sustained success.

Developing a Culture of Success Through Business Acumen

Having the right skill sets and personal attributes of a leader is just the starting point for those aspiring to achieve organizational success. What matters most is putting those traits into action every day through a clear vision, effective decision-making, strong communication, inspiration, and personal example. Of course, success won’t happen overnight. But with perseverance and the right mindset, you can transform your organization’s culture and performance one meaningful step at a time.