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Theories Of Leadership | Efficient Use Of Organization Resources

   

Added on  2020-02-03

14 Pages3801 Words71 Views
Leadership ManagementProfessional Development
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Principles and Practice of Leadership and Management
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Table of ContentsCourse Work-1 ............................................................................................................................................3Leadership competencies and skills............................................................................................................4Conclusion: .................................................................................................................................................6Course Work-2 ............................................................................................................................................7Conclusion: ...............................................................................................................................................11References.................................................................................................................................................13
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Course Work-1 Introduction There are several theories available for leadership. An organization has access to limited resources- natural resources, human resources, financial resources, technical resources etc. Thus, there is a need of an effective leader who can manage the resources well and create maximum value for the stakeholders. Every organization wants to maximize its profits and stay ahead of its competitors. Effective leadership can help to achieve these organizational goals (Emira, 2013). Extraversion, agreeableness, conscientiousness and openness to experience are some personality traits that are positively related to leadership qualities. According to the trait theory, these traits influence the management capabilities of an individual. Extraversion is considered as the ability to interact with others in an impressive manner. Managers/ leaders that possess this quality are very confident and energetic (Emira, 2013).They have an assertive personality and can easily influence others. According to experts, agreeableness is a quality that makes the manager/ leader cooperative and helpful. Business leaders with this trait can be approached for discussing organizational concerns. The subordinates can easily share their professional problems with leaders possessing this trait (Mahajan, 2011). Leaders with conscientiousnessare considered to be more organized and disciplined. These leaders are vigilant and prepare detailed business strategies. This trait is associated with successful global leaders. They have a planned approach towards the attainment of goals.Leadership competencies and skillsIn a large organization, planning is required in different aspects of business like production planning, investment planning, human resource planning, inventory planning, distribution
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planning, marketing communication planning (Mahajan, 2011). According to the trait theory, there are some traits that are common among successful leaders: likable, integrity, ability to inspire, intelligence, excellent communication skills (Mahajan, 2011). Following are the core competencies and skills possessed by successful leaders in different parts of the world:Foster communication- It is important to establish a two-way communication in an organization. Effective leaders share information with their subordinates regarding the mission, performance criteria, time schedules, uncertainties etc. The subordinates should be able to communicate their problems and grievances (Talbot, 2010). Integrity- An effective leader always demonstrates work ethics. It is important to define a code ofconduct and ethical guidelines for the subordinates. All the business operations should be performed with honesty. There should be a transparent business environment. There should be zero tolerance for an ethical violation (Talbot, 2010). This will motivate the subordinates to follow moral values. Fair and straightforward are admired by the subordinates. They do not take credit for the efforts made by other people and they are even ready to accept their mistakes. Openness to experience- A successful leader is always ready to challenge the pre-conceived notions. He is ready to adopt new ideas that can be profitable for the organization (Giapponi, 2013). An effective leader is open to unconventional solutions that can be beneficial for the business. Creativity- Innovation helps in gaining competitive advantage. In order to exploit the available business opportunities, leaders are ready to challenge the status quo. They want to create value for the consumers. New and creativity ideas help in dealing with uncertainties (Giapponi, 2013). Leaders promote out-of-the-box thinking and offer something unique to clients.
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