(Solution) Assignment on Leadership
Added on 2021-04-17
8 Pages1838 Words36 Views
Running head: LEADERSHIP 1Leadership NameInstitution
LEADESHIP 2Leadership According to Collins (2005), organizations can become great when their leader is at level 5, a chief executive officer (CEO) who is capable of blending genuine personal humility with an intense professional will. Collins (2005) acknowledge that level 5 is the highest hierarchy of leadership capabilities in any organization. These kinds of leaders can drive their respective companies from great to greatness. However, the other levels of leadership (highly capable individual, contributing team member, competent manager, and effective leader) can produce results but not up to level 5, where we have the executive, to elevate organizations from mediocrity to sustainable excellence (Collins, 2005). As such, for companies to survive the current competitive business environment, their leaders must stand out as well as possess the strong professional will and personal humility. At level 5, executives demonstrate an unwaveringdecision to do everything possible with an aim of producing the best long-term results irrespective of the challenges that may come their way (Collins, 2006). Moreover, they exercise personal humility by demonstrating a compelling modesty, while shunning public adulation, and never boastful of their achievement. Applying the concepts of "level 5 leaders" Westpac Bank Australia CEO, Brian Hartzer (Westpac Group, 2018), ideally fits the cadre of a level 5 leader. According to Smith (2017), Westpac Group (2015), and Upton (2015), Brian has been the face of transformation at Westpac Bank. He has led various innovative projects that have sustained the bank's performance to date. Westpac Group (2015) acknowledge that various strategies (service leadership, digital transformation, performance discipline, new growth highways, and workforce revolution) implemented by the management through Brian has inspired growth and success of the
LEADESHIP 3organization. Furthermore, Upton (2015) and Smith (2017) describes Westpac Bank CEO to possess the strong professional will and personal humility. As such, the CEO is a level 5 leader. Despite Brian Hartzer being a transformational and innovative leader, there are challenges that every successful organization face, to which, he is not an exemption. Such challenges include; severe limits of time, unpredictability, an expectation of change, the personification of the company, and visibility. Other additional challenges are; obtaining the right information, limits of power, reporting to the board of directors, and broader scope of operations. Therefore, this report will highlight the evidence of each challenge in respect to BrianHartzer as the CEO of Westpac Bank Australia. Porter and Nohria (2010) acknowledge that CEO's are at the epitome of decision making in any organization. They exercise ultimate power and have the responsibility of making critical decisions. Nevertheless and Nohria (2010) observes that despite CEO's being the epitome of decision making, they do not make all decisions. Interestingly, they report to the board of directors for decisions made within the company. As such, Brian Hartzer has the responsibility ofreporting to the board of Westpac Group on the progress of the company. If anything goes wrong, it is the responsibility of the CEO to respond to such unfortunate occurrences to the board. Therefore, reporting to the board put CEO's at cross-roads on responding to miscalculateddecisions made by junior employees. It poses a challenge to their competence especially if the decision hurt the company's finances. As stated by Westpac Group (2018), Westpac is the oldest company in Australia and the leading banking institution in New Zealand. With such breadth of operations, Westpac Group has broader operations that may pose a challenge to the management. Notably, Westpac Group (2017) annual report shows that Westpac Group engages in various business activities like
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