(solved) Role of Leadership PDF

Added on - 22 Jul 2020

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Role of Leadership
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK..............................................................................................................................................1CONCLUSION............................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONLeadership refers to a skill that encompasses the ability of a person or firm to guide andlead other individuals, team or whole organisation. It is an art to motivate group of people towork towards the attainment of set goals. Leader is an individual who influences others with hisactions. He has the ability to motivate and encourage team members and provide them path tofollow in order to complete assigned tasks in specific period of time. Leadership is also definedas the capability to convert vision into reality(Antonakis and Day, 2017). It plays an importantrole in the organisation. Leaders develop teams and strategies, provide training to employees byidentifying their needs, communicate instructions to group members, listen their problems andmaintain a healthy relationship in between employer and employee. They highly contribute in thegrowth and sustainability of firm by attaining objectives in an effective manner. The reportcovers significance of leadership and its different theories. It also includes corporate governanceand its role in bringing transparency in the practices and activities of firm. Apart from this, roleof leadership in influencing practices and activities of effective corporate governance is alsodefined in this report.TASKLeadership and Corporate GovernanceLeadershipis defined as an ability of firm's management to set and attain goals ofcompany, take decisions, face competition and encourage others to perform in a better way. Itadministers the direction for a firm. An effective leadership includes:Creating an inspiring visionInspiring and motivating individuals to engage with visionManaging delivery of visionCoaching and developing an effective team so that vision can be attainedIdeas are the basis of effective leadership but it is necessary to communicate them toothers in such a way that they engage enough to act as leader wants. In businesses, leadershipplays a crucial role. It assists in improving the performance of firm not only in terms of profitbut, in every aspect (Boin, Stern and Sundelius, 2016). Leaders increase the bottom line ofbusiness by assistance of their effective leadership skills. Leadership is a winning mixture ofpersonal traits or characteristics as well as it is the ability to think and act like a leader. It is thecapability to be an individual who directs actions and activities of others.1
According to the viewpoints ofAntonakis and Day, (2017), leadership is an act of leadingindividuals in a company towards attaining goals. Leaders influence the behaviour of employeesin several ways. A clear vision for company is set by them. They motivate the workforce andguide them through work process as well as boost up their morale.Significance of leadership:Leadership is a vital function of management which assists in increasing the efficiencyand attaining organisational goals. Below mentioned are some points that define the importanceof leadership:Providing guidance: A leader supervises as well as guides his subordinates so that theywill perform their work in a better way(Clough and McClellan, 2016). He provides directions toemployees to make them work efficiently and effectively.Coordination: By reconciling individual’s interest with goals of organisation, co-ordination can be attained. Synchronization can be accomplished by effective and propercoordination which must be the prime motive of a leader.Builds work environment: Management is a process of getting things done by others.Healthy work environment assists in gaining stable growth. So, it is necessary for a leader toconsider the human relations. They have the responsibility to listen problems of their workforceand administer them with an appropriate solution.Initiates actions: Leader is an individual who takes initiatives to work by conveyingplans and policies to subordinates.Creating confidence: It is a factor which can be attained by expressing work efforts toteam members, clearly explaining their roles and providing direction to attain the goalseffectively.Corporate Governancerefers to a system of practices, processes and rules by which anorganisation is directed and controlled. It includes balancing the interest of management,shareholders, suppliers, customers, government, community and financiers. It administers theframework for achieving objectives of company. It refers to the way in which a corporation isgoverned. It practically encompasses every sphere of administration from internal controls andaction plans to corporate disclosure and performance measurement(Li, 2016). Governanceprinciples and structures determine the distribution of responsibilities and rights among variousparticipants in company as well as include procedures and rules for making decisions regarding2
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