Leaders and Management Concepts Report - Lloyds Bank Analysis

This report provides a comprehensive analysis of leadership and management concepts, focusing on their application within Lloyds Bank Plc. It begins with an introduction to the organization and its hierarchical structure, followed by a discussion of the roles of both managers and leaders, highlighting the differences between management and leadership. The report then delves into various management and leadership theories, including classical management theory, behavioral theory, transformational leadership, and transactional leadership, along with relevant motivational theories. The roles of management and leadership in different organizational situations are explored, accompanied by the strengths and weaknesses of different approaches within the work environment. Furthermore, the report examines key approaches to operations management, such as TQM, and the roles of leaders and managers in this context, concluding with recommendations for future improvements. The report emphasizes the significance of effective leadership and management in enhancing employee productivity, achieving organizational goals, and adapting to changes within the business environment.

Leaders and Management
Concepts

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Introduction to organization and its organizational structure.....................................................1
Roles of both manager and leader along with difference between management and leadership2
Discussion of management and leadership theories....................................................................3
Roles of management and leadership in different organizational situations...............................4
Strength and weaknesses of different approaches to situation within the work environment....5
Key approaches to operations management and the role of leader and manager play................6
Conclusion and recommendation for future improvement.........................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
.........................................................................................................................................................8

INTRODUCTION
Management is consider as a process of managing and getting people together with the
aim of accomplishing entire activities by coordinating all the resources effectively. Along with
this, operations management is an area that is related with designing or managing the entire
production process to produce quality products (Boyd and Dougherty, 2016). In this, both leader
and manager play a significant role in managing as well as leading operational activities for
making employees more productive to attain all the set targets in effective manner. Current
report is based on Lloyds bank Plc, is a British retail and commercial bank along with branches
across England and Wales. It has been one of the Big Four clearing banks. The main purpose of
this bank is to expand their commercial activities in over the world in order to established it
competitive image. Report is also going to discuss about roles and characteristics of a leader and
manager in different situation. Furthermore, different theories and models of approaches is also
mentioned in this project that may assist in improving the workers performance at workplace.
TASK
Introduction to organization and its organizational structure
Lloyds bank Plc is a famous British retail and commercial bank with includes branches
across Wales and England. It was established in Birmingham in 1765 with the aim of providing
financial services in over the world. Along with this, it also expand during the 19th and 20th
centuries and at the same time also took number of smaller banking companies. Lloyds bank is
the largest retail bank in Britain and also has expensive network of branches and ATM in
England and Wales. It focus on providing best customers services and also provide 24- hour
telephone and online banking services. This is the reason that company easily attain success at
market place. Company has around 45856 employees who are skilled and capable in managing
their operational activities at workplace. These are also put their best efforts for accomplishing
their targets in stipulated time frame. In this regards, the organisational structure follow by
Lloyds bank plc is hierarchy organisational structure.
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Roles of both manager and leader along with difference between management and leadership
Both manager and leader play a crucial role in business organisation as they are keep
better coordination at the time of managing and leading their employees. This will directly
contributes in enhancing workers productivity level at workplace (Ellitan, 2017). The main focus
of manager and leader of Easy Jet is to provide better guidance to workers so that they can easily
perform their task and activities in an effective manner. In this regards, there are some effective
role of manager and leader within the Lloyds bank plc are as follows:
Role of leaders: Setting a clear vision: In business organisation, influencing employees to effectively
understand as well as accept the future aspects of company. In this, a good leader will
influence and encourage employees to effectively perform their duties along with
exploring the vision of company. It may assist in attaining set goals in stipulated time
frame. Motivating employees: It is also consider as an important role of manager in Lloyds bank
plc in which they find out the needs and wants of workers and also provide them praise
so that they can effectively done their task and activities within the company. In this
regards, good leader knows every think and also communicate with their team members
to provide them better guidance. By motivating employees, leader may improve their
performance and also make them more productive at workplace.
 Building employee morale: It includes to encouraging people to work in a team to attain
a common goal in stipulated time frame. In this, leader of Lloyds bank plc tries to
encourage and motivate employees so that they can improve their efficiency level to
perform their task activities.
Role of manager: Interpersonal roles: It includes three interpersonal role inherent in the manager at Lloyds
bank plc. All these type of roles help manager in making their formal position. As they
stand as a legal authority, perform different ceremonial duties (Eraki, 2015). In this,
manager interact with people outside the company and also acts as a spokesperson when
he represent the organisation to outsiders. Informational roles: It is also an important role of manager because information is the
foremost aspect for company as it formulate by manager at workplace. In this regards,
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manager of Lloyds bank plc is receive or collect information with the aim of making
employee aware about their job responsibilities within the organisation. This can be
beneficial in improving the performance of company.
 Decision roles: This type of role is also crucial for manager in which they take decision
while work get done. In this, manager of Lloyds bank plc act as a entrepreneur, resource
allocator, negotiator. With the help of this manager take initiate to change within the
company in order to includes some improvements (Fan, Liu and Zhang, 2015). This will
directly contributes in attaining all the set goals and objectives in effective manner.
Difference between management and leadership
Basis Management Leadership
Meaning It is an art of organising and
controlling entire activities of
company
It is a skill of leading others to improve their
performance.
Focus on Management focus on
bringing stability at
workplace.
Leadership is tries to encouraging change at
workplace.
Perspective Management has a short range
perspective within the
company.
Leadership includes good providence in
business activities to attain targets.
Discussion of management and leadership theories
There are different theories of leadership and management that help business organisation
in increasing its productivity level. As it used in different situation that occurs within the
company. In this manager and leader also play a significant role in implementing entire theories
as per the situation that occurs at Lloyds bank plc. These are as follows:
Classical management theory: This type of theory is refers to the idea that workers only
have physical needs at workplace. The main reason behind theory is that employees are satisfied
their physical needs through money. As this theory is focuses in organising workers with the
aim of providing them better job satisfaction (Han and et. al., 2017). It may consist profit
maximization, streamlined operations, emphasis on productivity.
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Behavioural theory of leadership: This is a large leap from the trait theory and assumes
that the capability of leadership can be learned. It is based on principle that the behaviour can be
conditioned in such as manner that one have particular respect to particular stimuli (Idris,
2016). Its main focus on sturdy of the particular behaviour of leader in Lloyds bank plc. On the
basis of this theory, behaviour of leader should be better that influence leadership.
Transformational leadership: This leadership style is followed by leaders to inspire,
motivate and encourage the staff members to work productively so that the long term business
goals could be accomplished. With the help of it superiors try to grow subordinates and make
sure that they contribute in organisational success. In Lloyds, it is focused by management for
the purpose of enhancing productively of employee and improving their work quality. They
create such situations for staff in which all of them can work effectively and attain their personal
goals. The skills which are focused by them to perform their jobs are self management,effective
decision making,commitment etc.
Transactional leadership: This is leadership style under which the leader of Lloyds bank
plc should promote the compliance through followers by rewards and punishments. With the
help on rewards and the punishment system, the transactional leaders of Lloyds bank plc
motivate employees (Ma and Sun, 2012). These leaders monitor the followers in careful manner
to enforce rules, punish the failure and also rewards success.
Among all the leadership theories, Lloyds bank plc can apply the Transformational
leadership because in this leaders motivate and encourage the staff members to make some
innovation and create the change to business success.
Theories of motivation
In Lloyds bank plc, managers motivate the employees by applying the different
motivational theories. It is necessary to assure that each team member in company should be
motivated. There are different motivational theories which Lloyds bank plc can be used for an
instance Maslow’s hierarchy of needs, Hertzberg’s two factor theory, Vroom’s theory of
expectancy.
Roles of management and leadership in different organizational situations
Manager and leader play a crucial role in different organizational situation that may
support workers in accepting as well as encouraging them to accept all the changes effectively.
Thus, both are responsible for providing better guidance to employees so that they can perform
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their best and also tries to attain their set targets in stipulated time frame. For an example,
manager of Lloyds bank plc assigned a new task that set by the top level management to get the
same from its team members within a specific time frame. In this manager is responsible for
providing all the necessary information to its workers so that they can aware about their job
responsibilities at workplace. For handling this type of situation, leader of company may use
transformational leadership to encourage as well as motivate their workers to create innovative
ways in order to accept all the changes (Nayak, 2015). This will contributes in making
employees able to attain their task activities in allotted time duration. In addition of this, manager
of company is also responsible for handling this type of situation by implementing behavioural
theory by this they can effectively behave with their workers in current situation and also provide
guidance. By this they can easily improve the chances of managing workers and at the same time
also enhance their productivity level. Mainly, the main focus of this theory is to effectively
interacts with the environment to response towards the same and also take the action. It may
assist in attaining all the set goals and targets in allotted time frame and guidelines as well.
Strength and weaknesses of different approaches to situation within the work environment
Each and every approaches having some strength and weakness that used in
implementing as well as managing situation within the Lloyds bank plc. These can be
understood by following description.
Transformational leadership:
Strength The main focus of transformational leaders is to retain employees
that may lower turnover cost of company.
Weaknesses On the other side, it requires constant feedback that consume time of
company.
Transactional leadership:
Strength The main advantage of this type of theory is that it focus on basic
needs of employees that directly contributes in making them
productive.
Weaknesses It is not effective for certain leadership situations
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Key approaches to operations management and the role of leader and manager play
Operations management is considered as a business practice that used to create the
highest level of efficiency within the business organisation with the aim of converting raw
materials into finished goods and services (Plesser and et. al., 2014). It can be effective in
maximizing the profitability level at market place. In context of Lloyds bank plc, operations
management is play a significant role in producing its operational activities that help in providing
financial services to customers in over the world with the aim of attaining higher success. In this
context there are some key approaches of operations management such as:
TQM: It is consider as an important tool that used by business with the hope of bringing
quality discipline within the production activities. In this regards, manager of Lloyds bank plc
assist their workers in implementing TQM as it help in improving the performance of different
task activities. Along with this, leader is also play a role in providing better training and
development programs to their workers in implementing the TQM within the different stage. As
it support in attaining all the set targets in stipulated time frame.
Lean principles: This type of approach is also a systematic method that orientated by
Japanese manufacturing industry in order to minimizing the wastage within the production
process. One of the main focus of this approach is to eliminate all the unnecessary wastages and
steps within the planning process. In context of Lloyds bank plc, manager focus on utilizing
production process effectively that may assist in improving the entire process of manufacturing.
Along with this, leader is responsible for motivating workers for enhancing their skills and
creativity so that they can reduce the wastage and at the same time also maximizing the
profitability level.
Furthermore, there are some leadership theories that help business organization in
enhancing growth sustainable performance as well. All these are as follows:
 Situational leadership: This type of style is effective in which different approaches
used by leader with the aim of coordinating as well as influencing employees as per
different situation. It is effective for Lloyds bank plc in which leader apply this style as
per current situation which effectively suits to the employee behaviour (Tristancho and
Gutiérrez, 2012). It help in making workers more productive and efficient towards the
organisational goals and objectives.
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 System leadership: It is also consider as an effective theory which create effective
working environment wherein different type of workers are perform their best to attain
their targets. With the help of this, Lloyds bank plc easily implement strategy that may
assist in productivity of workers.
 Contingency leadership: This type of strategy refers to the effectiveness of leadership
that is depend on how well it related with organisation situation. In this, leader of Lloyds
bank plc analyse the prevailing situation that motivate workers at workplace.
Conclusion and recommendation for future improvement
From the above mentioned discussion it has been recommanded that manager and leaders
needs to motivate and guide as per continuous basis in order to attain set targets in an effective
manner. Along with this, manager also communicate with their employees to provide them all
the necessary information about the policies and task activities (Wang, Jie and Abareshi, 2015).
This may aid in improving the employees performance at workplace and at the same time also
make them productive to accept all the changes occurs within the company. Furthermore,
manager and leader of Lloyds bank plc to use flexible approach to effectively understand
workers behaviour. By this they can easily provide better guidance and motivation to employees
to attain their set target systematically.
CONCLUSION
From the above mentioned report it can be concluded that management and operations is
one of the important process for business organisation as it used for managing entire operational
activities by reducing the wastage from them production. This will aid in attaining all the set
goals and objectives that support in enhancing organisational productivity and profitability as
well. Along with this, different management and leadership theories having strength and
weakness that assist in improving the performance level of company and its employees as well.
Under this manager and leader also play major role in different situation in order to eliminating
the issues at workplace. With the assistance of this firm can improve their performance level.
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REFERENCES
Books and journals
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mangement of household micro-grids participating in demand response. In Innovative
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Ma, G. and Sun, L., 2012. The Design and Implement of FPSO Assets Management System.
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Chinese University of Hong Kong.
Wen-chao, W., Fan, Z. and Wen-wen, L., 2012. Experience of Effective Operation of Laboratory
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