Implication of Competing Values Framework on Leadership in Solving the Wicked Problem of Inequality in the Financial Sector of Australia

 The problem of inequality will require a lot of planning and strategic
management to solve.
 The problem is so deep at times that there might be no solutions
available to come back to a stable position.
 Solving this problem requires a lot of effort, trial and error (Ghannay &
Mamlouk, 2015).
 This problem is very unique and has an effect on the other key social
indicators.
 It can act as a catalyst of various other issues, in this case it is the
issue related to the housing sector as well as the banking sector
(Arnold et al., 2015).
 The problem of inequality is hardly stoppable and it will always
continue in every parts of the world, the only thing being different is
the degree of the inequality.
 The problem of inequality is perceived in different ways by different
people and this problem is not solved definitively.
 The possible outcomes while solving inequality can be either a good
outcome or a bad outcome.
CHARACTERISTICS OF
WICKED PROBLEM
SOCIAL PROBLEM
REFERENCES
No definite
formulation
It does not have
stopping rule
Solutions are
considered as worse
or better rather than
false or true.
It does not present
enumerable range of
possible solutions.
It is considered as the
symptom of other
major problem.
Solutions obtained
IDENTIFIED SOCIAL PROBLEM IS A WICKED PROBLEM
 A proper set of organisational planning along with
a proper leadership skill helps in controlling the
inequality issue.
 The goals of the organisation or the society must
be achieved by taking into account the human
relationship, the internal and the external process
models (Blok, Gremmen & Wesselink, 2016).
 The human resources can be managed by cohesion
.
 The resource acquisition and the growth of the
organisation or the society can be done by the
readiness and adaptability of the organisations.
 There can be a control and stability in the
organisation if there is a proper flow of messages
and there is least miscommunication and
misunderstandings.
The social problem identified in the
financial sector of Australia is the
inequality in pay structures The average
wealth of the wealthiest household is
almost 100 times more than that of the
lowest wealthy household. The wealth
inequality in Australia is higher than its
income inequality. In inequality, the
power gets concentrated in the hands of
few people who exploits the available
resources
IMPLICATION OF COMPETING VALUES FRAMEWORK
• Arnold, K. A., Connelly, C. E., Walsh, M. M.,
& Martin Ginis, K. A. (2015). Leadership
styles, emotion regulation, and burnout.
Journal of Occupational Health Psychology,
20(4), 481.
• Blok, V., Gremmen, B., & Wesselink, R.
(2016). Dealing with the wicked problem of
sustainability: The role of individual
virtuous competence. Business and
Professional Ethics Journal.
• Ghannay, J. C., & Mamlouk, Z. B. A. (2015).
Influence of organizational culture on
competitive intelligence practice: a
conceptual framework. International
Journal of Innovation, Management and
Technology, 6(1), 35.
LEADERSHIP