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Impact of Leadership and Reward System on Organization Performance

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Added on  2020-01-21

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This research project aims to identify the impact of leadership and reward system on the organization performance. It includes a critical review of references and a research project specification.

Impact of Leadership and Reward System on Organization Performance

   Added on 2020-01-21

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RESEARCH PROJECT
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Formulate and record possible research project outline specification..............................11.2 Identify factors that contribute to process of research project selection..........................21.3 Critical review of references............................................................................................21.4 Research project specification..........................................................................................41.5 Appropriate plan and procedure for agreed research specification..................................5TASK 2............................................................................................................................................62.1 Match resources efficiently to research question or hypothesis.......................................62.2 Proposed research investigation in accordance with agreed specifications and procedures................................................................................................................................................62.3 Record and collate relevant data where appropriate.........................................................7TASK 3............................................................................................................................................83.1 Appropriate research evaluation techniques.....................................................................83.2 Interpretation and analysis of results in terms of original research specification............83.3 Making recommendation and justifying areas for consideration...................................10Task 4.............................................................................................................................................104.1 Presentation of findings..................................................................................................10........................................................................................................................................................15REFERENCES..............................................................................................................................16APPENDIX....................................................................................................................................18Figure 1Respondents response on question” Do you think that leadership and organizationperformance are interlinked to each other?.....................................................................................7Figure 2Respondents response on questions "Good leadership led to development of effectivestrategies in the business."...............................................................................................................8Figure 3Respondents response on question "Leaders play significant role in motivatingemployees at the workplace."..........................................................................................................9
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Figure 4Respondent response on questions “Do you think that autocratic leadership stylenegatively affect firm performance?................................................................................................9Figure 5Respondents response on questions “Do you think that democratic leadership stylenegatively affect firm performance?"............................................................................................10Figure 6Respondents response on questions “Reward system positively affect the employee’sperformance. Do you agree? ".......................................................................................................10Figure 7Respondents response on question "Financial incentives lead to improvement inemployee’s performance and this ultimately lead to improvement in organization performance.".......................................................................................................................................................11Figure 8Respondents response on questions "Non-financial incentives lead to improvement inemployee’s performance and this ultimately lead to improvement in organization performance".......................................................................................................................................................12
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INTRODUCTIONLeadership is the one of the main factor that play an important role in growth of anorganization. This is because every leader have different ideology which lead to change in thesatisfaction level of the stakeholders in the business. In past time period varied research studiesare conducted and on same it is identified that leadership greatly affect an organizationperformance. This is because leader by its own action prove himself and guide subordinates totake important steps to improve organization performance. In the current research reportsecondary and primary data is collected and same is analysed to arrive at specific conclusion. Inthis way entire research is carried out.TASK 11.1 Formulate and record possible research project outline specificationBackground of studyThere are number of leadership styles that are followed by an individual to managebusiness operations. Past research studies reflects that there are positive and negative sides ofdifferent leadership styles and all of them positively and negatively affect the organizationperformance. Thus, it can be said that past research studies advocate the fact that leadership andorganization performance are interrelated to each other (What is leadership, 2017). On otherhand, reward system is another factor that have correlation with the firm business performance. Itcan be observed in the past researches that in an organization where heavy amount of rewards aregiven to the employees same feel motivated and do hard work for benefit of an organization. Dueto obtaining high reward employees feel motivated to work hard at the workplace and this lead toenhancement in their efficiency and performance level. Aim of research To identify the impact of leadership and reward system on the organization performance. Objective of research study Objectives of research study are as follows.To identify impact that leadership have on formulation of business strategy for the firm.To identify impact that leadership have on the employee’s motivation level.To do comparison between autocratic and democratic leadership style in context ofimpact that both have on organization performance.To identify impact of reward system on firm performance. 1
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To make comparison between impact of financial and non-financial incentives onorganization performance. 1.2 Identify factors that contribute to process of research project selection In current time period business firms are facing a lots of problems in maintain their stablegrowth rate. Giant firm’s market share is declining at sharp rate in the market. On other hand,there are small firms that are growing at rapid pace and give tough competition to rivals.Leadership is the one of the factor that lead to growth of the some of the business firms at rapidpace in past couple of years. Thus, it was important to conduct the present research study so thatit can be identified that to what extent leadership contributes to success of business firm. Apartfrom this, reward system is another factor on which due attention will be paid in the presentresearch study to explore impact that it have on the organization performance. 1.3 Critical review of referencesTo identify impact that leadership have on formulation of business strategy for the firmAccording to Wang and et.al., (2011)1leadership play an important role in growth of anyorganization. This is because any leader have clear mission and goals as well as vision. Allefforts of the leaders are channelize towards achievement of goals and objectives in the business.Those leaders that have clear vision formulate strategy in right direction and pave a way forgrowth of the business firm. It can be said that leadership play crucial role in growth of anorganization. Contrary to this Wiseman, CuevasRodríguez and GomezMejia, (2012) state thatleadership alone does not play any role in progress of an organization. This is because leaderformulate policies and strategy but its implementation is dependent on subordinates. Sometimesmanagers prepare strategy but same is not implemented in proper manner by subordinates andeven steps were taken to improve condition fruitful results are not obtained. Thus, it can be saidthat it is the mixed efforts of the leader and his subordinates that make an organizationsuccessful. To identify impact that leadership have on the employee’s motivation levelAs per views of Wang, Chich-Jen and Mei-Ling, (2010) leadership have significantimpact on the motivation level of the employees. This is because leaders are very energetic innature and they develop lots of enthusiasm among the subordinates by motivating them to dohard work smartly. Those who work under leaders get inspiration from them and feel motivated2
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to achieve tough targets that are set as benchmark by their manager. Thus, leaders play a veryimportant role in motivating employees to do specific work.Contrary to this Yang, (2010) state that those leaders who follow autocratic leadershipstyle failed to motivate employees to great extent. This is because those who are autocratic innature create a lot of dissatisfaction among the employees and due to this reason employees doesnot feel free to do work at their own discretion. Thus, they feel demotivated while working underautocratic leader. Hence, it can be said that leadership always does not motivate employeessometimes it become big reason for demotivation of employees at the workplace. To do comparison between autocratic and democratic leadership style in context of impactthat both have on organization performance.According to Ejere and Abasilim, (2013) there is huge difference between autocratic anddemocratic leadership style. This is because in former one manager follow a policy under whichit make an attempt to manage strict control on its subordinates by not involving them in decisionmaking process of an organization. All these things negatively affect an organization and lead toelevation in gap that exist between top management and middle as well as lower level ofemployees. All these things have adverse impact on the firm profitability. Opposite to this,democratic leadership style positively affect the business firm. This is because though thisleadership style manager successfully maintain liaison relationship with its stakeholders. Thus,decisions with full consensus is taken by the managers. Hence, it can be said that democraticleadership style positively affect the business firm. Contrary to this Ng. and Sears, (2012) state that both autocratic and democraticleadership style have positive impact on the firm performance. This is because if manager adoptautocratic leadership style then in that case it successfully manage discipline at the workplace.On other hand, by adopting democratic leadership style one perform business operations inproper manner. This reflects that one cannot consider specific leadership style less important. To identify impact of reward system on firm performance. According to Waldman, Balthazard and Peterson, (2011) it is very important to keepemployees satisfy at the workplace because their satisfaction level is directly linked to theirperformance at the workplace. In order to improve employee’s performance reward must begiven to them in recognition of their performance. Such kind of things motivate employees towork hard at the workplace. This lead to improvement in organization performance.3
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