Leadership and Real Estate: Prime Properties and P.L. Soni Analysis

This essay provides an in-depth analysis of responsible leadership, using P.L. Soni, the chairman of Prime Properties, as a case study. The introduction emphasizes the importance of leadership in driving productivity and guiding employees toward organizational goals. The essay then delves into the specifics of Prime Properties, a medium-sized real estate company, and how P.L. Soni's leadership has transformed it into a successful entity. It explores different leadership models, highlighting the situational and transformational leadership styles employed by Soni. The essay discusses the challenges faced by the company, such as market dynamics and internal issues, and how Soni's leadership has helped overcome them. It also examines his strengths, including social intelligence and adaptability, and suggests areas for improvement. The essay concludes by emphasizing the effectiveness of transformational leadership in motivating employees and achieving business goals. This essay is valuable for understanding leadership in the context of real estate and business management.

Responsible Leadership

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Leadership is very important if a company wants to achieve a higher level of
productivity. It allows an individual in motivating and guiding his followers to achieve goals and
objectives. If the managers have proper leadership quality then they will be able to manage their
work in more appropriate manner. Also, they will be able to motivate and guide their sub-
ordinates effectively as they would know how to influence them. This essay states about a live
example who has used his leadership skills to achieve different goals and transform a small
company into a large corporation (Northouse, 2015). Though the size of firm is still medium but
it has achieved better market position and abilities in set period of time. There are different
models of leadership stated in this essay and also a best suiting style will be described in
connection to the chosen leader. The strength and weakness will be mentioned which will be in
reference to his competencies. Also, certain suggestion will be stated that will allow him to
improve.
TASK
P.L. SONI is a very well known name in the field of real estate in India. He is the
chairman and leader of Prime Properties which is a medium sized company offering premium as
well as standardised range of properties for business and households. The organisation has been
behind one of the most innovative projects and concept of integrated townships in Mumbai. The
company is already listed on Bombay Stock Exchange which states about the success story
(Schein, 2010). The prime speciality of company is to build high end, ultra luxury properties.
The serves in more than 5 states of located within Indian boundaries.
As a leader Mr P.L. SONI has a experience of 30 years in which he has learned to be a
person who can motivate and influence people as well as market forces. He is the sole proprietor
behind prime properties which is now a medium sized firm that has abilities of large sized
corporations (Nahavandi, 2016). He ensured that his small company is able to capitalise on
opportunity that were present in the real estate in late 1990's. They are today offering their
services to both business and households. This allows them in effectively registering growth and
gain more market share at a rapid speed.
Prime Developers has many properties in the locations which are known to be high end
posh area's of city which assisted company in gaining better market positioning (Selznick, 2011).
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This happened due to the capabilities of leader and chairman of company P.L. SONI. He assisted
organisation in overcoming challenges which could have hampered its ability to deliver better
results. He always showed the characteristics of democratic leader who was achievement
oriented as well as participative in nature. He believed in people and always ensured that they
had all the resources and leads to complete given task efficiently.
The management of company is made up of experience managers who have either
worked for organisation from long time or had given exemplary performance on field. The type
of followers Mr P.L. SONI have are the agents and brokers who are employed by the firm
(Aaker and Joachimsthaler, 2012). Basically, majority of people who follows belongs to
infrastructure as well as real estate market. People who are dealing in properties are basically the
followers of the chairman of cited company.
There are different types of challenges which they face in the real estate industry. The
problems are generally related to politics, regulations and nations economy. At present, the
biggest challenge which the industry is facing the application of GST in India. The goods and
services tax which is enacted to eliminate all indirect taxes (Raelin, 2011). This is a law which
states about keeping real estate under 12% bracket which will certainly have major impact on the
prices of the projects. They will come down which will reduce margin of profit of company. But
this is not the sole issue that is faced by him. He also has to ensure that they are able to offer
products as per market demand. There are more issues which are controllable in nature as they
are from internal sources.
These problems include employee resentment, accountability of functions, conflicts
between management and workers. These issues are solved by leadership as people can be
convinced or influenced which will reduce the level of resentment in them. At present, as a
leader Mr P.L. SONI faces challenges which include new business models, the sectorial
transformation, etc. Also, they have opportunity of acquiring smaller companies as they have
enough resources for expansion in market by force (Isaac Mostovicz, Kakabadse and Kakabadse,
2011). There are many issues which are there in front of the company that can be sorted by
displaying exceptional leadership skills and abilities. The company has to face a highly dynamic
environment which has to be managed after applying right strategies and approach. This is
decided by the leader and chairman of company. The individuals working within company have
to follow him as he will guide them on right path.
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Mr P.L. SONI showed exemplary situational leadership which allowed him to push his
company as well as managers towards better goals achieving and problem resolution. The
Situational leadership allows the manager in ensuring that he is able to overcome uncertainty
which is there due to sudden changes in the market dynamics. Today, this theory is the most used
approach towards developing leadership in people (Situational Analysis, 2017). Moreover, in
real estate sector the individuals as well as companies have to face situations that are not
favourable in nature. The theory was developed by Dr. Paul Hersey in late 1960's.
It is a tool which provides flexibility and higher scope of adaptability in people and
organisations. The method is completely based on the relationship that exist between leader and
his followers. He stated about four different things which a situational leader learns (DiSegni,
Huly and Akron, 2015). They are very vital, critical and common competencies. These
capabilities were seen in Mr. P. L. SONI whenever he faced any issue. They are stated below:
Diagnose: This is the very first thing that is done by a leader. He has to analyse the
situation and find out the very variance that exist in the system. Basically, an evaluation is
conducted which allow the leader in determining problems that can hamper organisation ability
to perform. Basically, they try to understand the situation that they aim to influence.
Adapt: After understanding different issues that can hamper company ability to perform
well in the future. Mr P.L. SONI showed distinguished capabilities which differentiated him
from the crowd (Du and et. al., 2013). In a highly competitive environment it is very difficult for
a leader to keep on adapting but he showed this ability that allowed him in growing his company
to new heights.
Communicate: The leaders are able to communicate in a very effective manner after
adapting to the issue that could have hampered their ability to perform. They have to interact
with others in order to ensure that they are able to understand and accept correct facts and
figures. Basically, communication is very improvisation as it allows a leader in understanding
marking an its forces in a very effective manner. It also aids him in satisfying people who
partnering in the business with him.
Advance: This is the stage where the leader moves his resources in the direction which
will allow him in exploiting situations in a well defined manner (Clinton, 2012). It is very vital
for an entrepreneur to keep on moving as it will allow him in grabbing more chances that will
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bring in better results for the company. In case of Mr. P.L. SONI, he always tried hard to manage
his resources adapt changes and move with the flow so as to gain more than his competitors.
Today, Prime properties is one of the fastest growing real estate company that is building
its own projects as well as brokering deals on other companies properties (Spillane, 2012). They
have a highly motivated workforce which is ready to take on market challenges with a innovative
approach. This is due to the model followed by their leader.
Transformational leadership is a most effective style which can be utilized by people for
their business. As indicated by this, pioneers do their task with their employees; therefore, they
can determine changes and in addition create a specific vision which can provide direction
regarding modification with assistance of motivation and then implement change. P. L. SONI is
a owner of Prime properties and he is a leader also (Transformational leadership theory, 2017).
He has many qualities such as he is self motivated, provide inspiration to their staff members, set
targets and goals for their employees which they need to accomplish within provided period of
time. Along with this, he wants to improve capabilities and skills of their workers; thus, they will
do their work with maximum efficiency.
As P. L. SONI is possess qualities of transformational leadership; hence, there are various
advantages in this context, which are mentioned as beneath:
 He is a role model for their labours as he cater motivation to them and along with this
develop interest regarding work.
 He is an individual, who understand about the strengths as well as weaknesses of their
staff members; therefore, by removing their shortcomings he can increase their
performance.
 Being a leader, he delegate some responsibilities to their employees to build some
leadership qualities into them.
 He create learning chances for their staff members; as a result, it provides growth and
development to their career.
Rather than this, there are some elements which are related to transformational
leadership. It includes Idealised influence, inspirational motivation, intellectual stimulation and
in addition individual consideration. It is also called as Four 'I'.
Idealised influence It portrays that leaders acts as a much strong role model for their
staff members. If labour find out this kind of pioneer then they
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will copy them or their behaviour.
Inspirational motivation As per this, leaders inspire their workers for work and for this
purpose they share vision with them. Therefore, they can attain
desired goals and targets effectively as well as efficiently.
Intellectual stimulation This kind of leaders do their work in an innovative way. They
want to do challenging things as it will help them to enhnace their
learning.
Individual consideration Leaders who come under this, give supportive surroundings to
their workers. They listen to their staff members carefully; hence,
they can easily accomplish their demands and in addition needs.
Therefore, it has been comprehended that P. L. SONI is leader, who motivates their
labours so that they will do their task in an appropriate manner (Harris, 2011). By delegate some
responsibilities to labours, he increases their learning. Hence, he will easily boost profits of his
company named Prime properties.
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Illustration 1: Factors of Transformational leadership
(Source: Transformational leadership theory, 2017)

According to Ronald E. Riggo (2014), it is reserved that there are numerous area where
the company can grow and Leader as a individual can develop himself. No person is perfect and
this is the very same example of it. There are different competencies that a person require to
become a great leader who is followed by thousands. Mr. P.L.SONI has displayed characteristics
of a democratic leader who is always ready to take on challenges and solve issues that can
hamper company ability to perform in future. Basically, he is a achievement oriented and
participation driven individual who aims to attain better growth in future. There are certain traits
which are the strengths of the real estate tycoon:
Social Intelligence: He showed exemplary ability to build relationships and maintain
them. Basically as a leader he understood the factors that had impact on the daily activities of
individuals working in the organisation. This allowed him in connecting with people and making
them more committed to work.
Interpersonal skills: A leader need to have a very good understanding and
communication skills. This allows him in ensuring that each and every task is completed without
any issue and better results are bought out of people.
Emotional Skills: These are the skills which allow individual in understanding others
emotional level and also states about leader's stability (Raelin, 2011). It is essential to make sure
that they are more stable and able to deal with issues more competently.
Mental skills: A leader has to be mentally strong so that he can take right decisions and
do not get distracted easily.
There are certain challenges which mentioned leader faces, such as improvement in
market dynamics, uses of analytical tools and better conflict management. These issues can be
solved only after certain executive developmental programs that will impart required knowledge
to individual (Aaker and Joachimsthaler, 2012). Basically, any improvement in the identified
issues will have impact upon the followers of the leader. They would have to adjust according
their guidance provider and do task as per the path showed by him. Any major change change
will have impact on the market as well as it can lead to development of better opportunity in the
industry or it can cause drastic changes in the rules.
CONCLUSION
Leadership responsibility is an essential element which have to perform by an individual
in right manner. A responsible leader is one who used to work all the things in an appropriate
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manner and remove the chances of deviations and difference from business as well. Situational
model is one the best approach to be used by any leader in an organisation through which they
become able to take decision and respond according to situation. Along with situational model,
transformational leadership technique is distinguish as best factor for motivating and maintain
adequate relationship with subordinates as well. Although for working on many critical issues it
is essential for an individual to use problem solving skill and manage every task properly.
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REFERENCES
Books and journals
Aaker, D. A. and Joachimsthaler, E., 2012. Brand leadership. Simon and Schuster.
Clinton, J. R., 2012. The making of a leader: Recognizing the lessons and stages of leadership
development. NavPress.
DiSegni, D. M., Huly, M. and Akron, S., 2015. Corporate social responsibility, environmental
leadership and financial performance. Social Responsibility Journal. 11(1). pp.131-148.
Du, S. and et. al., 2013. The roles of leadership styles in corporate social responsibility. Journal
of business ethics. 114(1). pp.155-169.
Harris, A., 2011. Distributed leadership: Implications for the role of the principal. Journal of
Management Development. 31(1). pp.7-17.
Isaac Mostovicz, E., Kakabadse, A. and Kakabadse, N. K., 2011. The four pillars of corporate
responsibility: ethics, leadership, personal responsibility and trust. Corporate
Governance: The international journal of business in society. 11(4). pp.489-500.
Nahavandi, A., 2016. The Art and Science of Leadership -Global Edition. Pearson.
Northouse, P. G., 2015. Leadership: Theory and practice. Sage publications.
Raelin, J., 2011. From leadership-as-practice to leaderful practice. Leadership. 7(2). pp.195-211.
Schein, E. H., 2010. Organizational culture and leadership (Vol. 2). John Wiley & Sons.
Selznick, P., 2011. Leadership in administration: A sociological interpretation. Quid Pro Books.
Spillane, J. P., 2012. Distributed leadership (Vol. 4). John Wiley & Sons.
Online
Transformational leadership theory. 2017. [Online]. Available through:
<https://managementstudyguide.com/transformational-leadership.htm>. [Accessed on
29th September 2017].
Ronald E. Riggo, 2014. The Top 10 Leadership Competencies. [Online]. Available through:
<https://www.psychologytoday.com/blog/cutting-edge-leadership/201404/the-top-10-
leadership-competencies>. [Accessed on 29th September 2017].
Situational Analysis, 2017. [Online]. Available through: <http://situational.com/the-cls-
difference/situational-leadership-what-we-do/>. [Accessed on 29th September 2017].
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