Entrepreneurial Practice: Challenges, Leadership Models and Recommendations
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This report analyzes the challenges faced by companies in sustaining their ventures and evaluates the leadership models and communication tactics used by them. It also provides recommendations for improving organizational performance.
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Professional Development Entrepreneurial Practice
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INTRODUCTION Entrepreneurship is defined as appropriate and useful capability of individuals that they utilized to learn, develop and organize a venture activities as well as operations in effective manner. Entrepreneurial practice is related to this term as it define the current and further practices of successful entrepreneurs who effort to deal with critical challenges and desire to obtain expected outcomes in effective manner. The current assignment will be based on employer video case study related to core management logistic. The study will explain key challenges facing the company and evaluation of leadership models as well as communication tactics of firm. It will define the impact on tactic and model on employee, organizational culture and performance. Furthermore, the study will also justify justified recommendations, based on improvement in the context of organizational performance. Lastly, the report will explain reflective statement based on personal analysis. TASK 1 A- Critically analyse challenges or issues facing the company In the recent time, it is quite challenging for a company to sustain their venture in specific market and run for longer while operating functions into particular sector. They effort to handle different types of challenges and critical issues that put direct impact on their performance and productivity as well as strategic plan. In order to identify or analyse the barriers, management may take varied methods into their consideration. In case of CML as chosen company, manager may take approach to utilize environmental analysis as appropriate tool, which enable them to determine the issues facing firm. By referring to case study, organization is facing challenge to manage employee diversity at workplace as candidates are unable to work together because they are inefficient to develop understanding about languages of others, which bring more problems for leaders to work in effective manner. It can be said that effective communication play important role in growth and success of brands or companies whether it is small or large, public or private (Malmodin and Lundén, 2018). At workplace without effective interaction individual candidate are unable to work together which in return create issue that recently chosen company is now facing and effort to resolve. Rebecca is one of those employees that work in CML and go micro to employ individual from a whole range of varied nations. When they hire diverse workforce at work area they may deal with barriers in some manner because of Rebecca speak on English instead of other languages.
By using environmental analysis, management may take benefit of determining challenge that their company may face and tend to utilize the best approaches to solve each in effective way. From given case study, it has been identified that organization is facing another issue and that is reducing carbon foot print which may put negative impact on its brand image in the market or across national boundaries. It is quite essential for any company to contribute to make environment sustainable and also accountable to conduct CSR practices as it may help them to stay competitive and productive as always (Sah and Devakumar, 2018). Core management logistic while running and managing its venture growth in the market at national or international level, try to solve the issue that affect negatively upon its performance. Firm and its management face challenge to minimizetheir carbon footprint and to become more holistic supplier in the world which in return lead to increase profits margin and generate revenue as well as enable to gain competitive edges. B- Critically evaluation of leadership models and communication tactics of company and its impact on employees as well as business culture & performance In the corporate world, there are multiple forms of methods, models and approaches exist that has been utilized by many leaders according to their preferences and situational needs. In case of CML, effective leadership style is needed, which enable students or candidates to perform effectively and productively in term of obtaining key suggestions and strategic direction. Transformational and transactional leadershipis one of the best models that apply and used in the context of company, which drive the attention of leaders towards developing the best plans and tactics that help to obtain desire outcome and provide the same to management according to their expectations. It can be said that leader with transformational leadership model gain varied benefits in term of solving different circumstances and challenges that company is facing and tending to overcome by applying useful methods such as leadership styles implementation. It may enable them to aspire and encourage others that play important role for their individual personal as well as professional growth (Eliyana and Ma’arif, 2019). By using this leadership style, leader along with benefit may face issue in term of transforming everyone into productive candidate as this model may do not encompass key direction to gain results according to requirement and expectations (Budur, 2020). They may also take approach to use transactional leadership which is known as managerial approach with that leader may relies on punishment and reward tactics.
Bothmodelsandtheirutilizationatworkplacemayputpositiveimpactonemployees' performance in term of increasing their productivity level when they get right direction to perform productively and appropriately. It may also affect organizational culture in form of creating positive environment where people prefer to work for longer time instead of making complain about management and leaders behaviour. Leader with appropriate leadership styles and models may effort to develop and take right decision that help to boost individuals morale and give them reason to stay within company for every (Kalsoom, Khan and Zubair, 2018). This kind of practice may also provide benefits to increase employee retention rate that is quite essential for manager and leader to do so. Appropriate utilization of each leadership model or framework at workplace may put negative or positive impact on each factor as well as aspect. For example, by punishing employees leader may lead to increase high employee turnover, as they may affect negatively upon both individual and firm performance. 3. Recommendation for enabling and improving the organization performance. While for improving and enabling organization performance and this might be more helpful for the organization through which this could make for working within the better achievement. Here are some of the recommendation for the better organization performance: Organisation culture and training- The culture and benefits about the company that could keep the employee for strong culture and defined to set a positive values. Training and organizational culture that could increase the employee retention which keep the attracted to company that have reputation for being within the good place (Child,2021). This must be improved the talent for attract to this types and working within the current employee also have the higher likelihood of staying with the business. Improved the team work which helps the completed cooperatively with an improved outcome due to having some strong company culture. Creating and communicate about the meaningful values that can also help the organization culture and training for interaction with each other. Carbon footprint- This could keep the implementation about the emission project focused on the promoting targeted organization in conducting more about the verification and disclosure. While this might be more helpful for the organization through which emission and removal from the production
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process and services in order to having the effective manner. Along with this might be more helpful and creating more high estimated for which environmental performance are building up capacity on the global marketing competitiveness and for working within the organization. Employees language problem face- Communication skills which must be improved which help the employee for better communicator by teaching them with having some tangible tips (Dubeyand et.al., 2020). Communication which could be from both side as receiver and sender in organization. Culture based communication skills, speaking a different language is not only some of the culture clash in terms of communication. Body language, gestures, and symbols can all carry about the different meaning from the culture as well. Manager and leader should have the knowledge and skills about how to work within the different culture and language as well as also working within for organization performance. While this might be also important for developing and growth for their better business and keep their employee for working as long term. Employee training about conducting session that can employee it take place everyone on the same page. Leadership styles- This might be also important for having the better improvement and this could create theirenablingforthebetterorganizationperformance(Munirandet.al.,2020).Asthe organization that can use the participative, transactional and transformation leadership styles through which the organization performance that can be developed. As having such things this might be also make sure for having their essential things and also create such environment that employee can work. TASK 3 Reflection on one of the professional areas from CMI code of conduct and practice Developing our self professionally is important as it can help us out in performing out tasks in an effective manner. For becoming successfully in our professional field, we all need to conduct or perform our tasks in an ethical manner. There are number of ways by which we can develop our self professionally. CI code of conduct and practice sets out best practices in leadership and management and it covers number of areas. I want to discuss effectiveness of one of its area such as: continually developing and maintaining professional development and competence. It is the area that encourage us to develop our self continuously. In this regard, I can
say that, we need to develop our self as a successful leader and by focusing on this area of CI code of conduct and practice, we can become a successful leader. Continually developing and maintaining professional development and competence: In this regard, I can say that, professionally, we always focus on striving hard for excellence at all times. We can develop our self professionally by self-evaluation and identifying areas in which we are lacking behind. In this context, I can say that there is no age of learning and there is no limit of learning (McMahon, 2017). There are number of changes happen in business environment and for adapting changes as well as performing functions as per the changing factors, we all require developing our self continuously. There are number of ways of learning and continuous development such as: team working. When we work in a team then we learn new ways of performing functions. We learn better ways of solving problem. When employees work on themselves and focus on developing themselves continuously then they are more likely to take advantages of external opportunities such as promotional opportunities and others. In addition, I can say that maintaining professional knowledge is important as it boosts our confidence and make us able in accomplishing our prior set goals. For continuous development and professional maintenance, we can act only in accordance with our level of capability and in accordance of the highest standard of professional behaviour. One of the main key of being in competition and maintaining professional knowledge is flexibility as well as integrity. When we respect values of others and understand behaviour of others then we are more likely to develop our self as a successful leader. In addition, I believe that by taking help of peers and superiors, we can develop our self professionally and can increase our knowledge. There are number of situations occur where we find difficulties in performing functions and it often happens when we are asked to act beyond our current level of capability (From, 2017). At that time, we can ask for help of others and sometimes we learn number of new things from our juniors. So, increasing interest and looking for ways of increasing knowledge can develop us professionally and personally.
REFERENCES Book and Journals Budur,T.,2020.Effectivenessoftransformationalleadershipamongdifferent cultures.International Journal of Social Sciences & Educational Studies.7(3). pp.119-129. Child, J., 2021. Organizational participation in post-covid society–its contributions and enabling conditions.International Review of Applied Economics.35(2). pp.117-146. Dubey, R. and et.al., 2020. Blockchain technology for enhancing swift-trust, collaboration and resilience within a humanitarian supply chain setting.International Journal of Production Research.58(11). pp.3381-3398. Eliyana, A. and Ma’arif, S., 2019. Job satisfaction and organizational commitment effect in the transformationalleadershiptowardsemployeeperformance.EuropeanResearchon Management and Business Economics.25(3). pp.144-150. From,J.,2017.PedagogicalDigitalCompetence--BetweenValues,Knowledgeand Skills.Higher Education Studies.7(2). pp.43-50. Kalsoom, Z., Khan, M.A. and Zubair, D.S.S., 2018. Impact of transactional leadership and transformational leadership on employee performance: A case of FMCG industry of Pakistan.Industrial Engineering Letters. 8(3). pp.23-30. Malmodin, J. and Lundén, D., 2018. The energy and carbon footprint of the global ICT and E&M sectors 2010–2015.Sustainability.10(9). p.3027. McMahon,G.T.,2017.Theleadershipcaseforinvestingincontinuingprofessional development.Academic Medicine.92(8). pp.1075-1077. Munir, M. and et.al., 2020. Supply chain risk management and operational performance: The enablingroleofsupplychainintegration.InternationalJournalofProduction Economics.227. p.107667. Sah, D. and Devakumar, A.S., 2018. The carbon footprint of agricultural crop cultivation in India.Carbon Management. 9(3). pp.213-225.