Leadership: Economic, Social, and Political Contexts Report

This report provides a comprehensive analysis of leadership in the context of a volatile business environment. It begins by assessing the changing perspectives of leadership across economic, social, and political contexts, highlighting the dynamic and complex nature of the leader's role in today's world. The report then delves into the challenges faced by leaders, including technological advancements, globalization, changing demographics, and the pace of change, among others. It provides an in-depth explanation of the characteristics of responsible leadership, emphasizing the importance of communication, motivation, and confidence. Furthermore, the report analyzes the importance of demonstrating responsible leadership, particularly during periods of organizational change, emphasizing the need for transparency, teamwork, and employee development. The conclusion summarizes the key findings and underscores the significance of effective and responsible leadership in navigating the complexities of the modern business landscape.

LEADERSHIP

Table of Content
INTRODUCTION...........................................................................................................................1
1 Changing perspectives of leadership in economical, social and political context....................1
2 The challenges of leadership in volatile business environment................................................2
3. Different Characteristics of Responsible Leadership..............................................................4
4. Importance of Demonstrating Responsible Leadership...........................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Leadership can be understood as an important function of management which helps to
maximize efficiency in all levels of company and to achieve organizational goals with
coordination among team members and management hierarchies. The role of leader is extremely
vital for company as the duty to represent the goals and mission of company relies upon him.
This report explains the changing perspectives of leadership in economic, social and political
contexts and the challenges in leadership in today's volatile business environment (Alford,
2019).This report also elaborately explains the various characteristics of a responsible leadership
and analyses the importance of demonstrating responsible leadership in organization during
process of change in volatile business environment.
1 Changing perspectives of leadership in economical, social and political context
In today's dynamic business world the role of leadership is changing on various
perspectives in context of economical, social and political scenarios where role of leader is
complexly diverse and dynamic in nature.
Economical contexts
 Growth of economy- The economic development of an economy in whole is highly
dependent on good strong leadership skills shown by leaders. This is particularly
important and an evolving perspective for leaders in economy because of the core values
an economy in whole holds for the growth of country. The role of leader in economy is
directly linked to foster economic development and decisions for equal distribution of
resources.
 Culture diversity- Leaders in economy must make diversity a priority which includes
thinking globally, appreciating culture diversity in amalgamating with different
economies to enhance the diverse productivity (Bush, Bell and Middlewood,
2019).Leaders must encourage new developing technological culture by building
partnerships with various economies and enhance cross culture leadership in economy to
foster growth and creativity. With the changing perspectives of leadership in economy,
leader must master their cultural intelligence skills.
Social contexts
 Vulnerability - The changing perspective of leadership requires leaders to develop
vulnerability and openness in social scenario. It helps to provoke innovation and
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motivation in social groups by building diversity culture in leading a team. A vulnerable
leader enhances dedication and enthusiasm in team members by working towards
building strong interpersonal skills and respectfulness for employees in social groups.
 Developing managerial effectiveness – The changing perspective of leadership requires
leaders to develop time management skills, prioritization in decision-making while
working the strategical decisions to be more effective in managerial performances in
social groups. Leaders must work with discipline and determination with analytical skill's
knowledge to foster managerial effectiveness in groups (Western, 2019).
Political context
 Managing internal stakeholders – It is an important perspective of leadership to enable
good communication and managing strong professional relationships with stakeholders
and serve an example of integrity and loyalty to the people they present themselves to.
Leaders by building strong professional relations with stakeholders foster growth and
bring progressive development.
 Accountability – It is crucial for effective political leadership to be accountable and hold
the responsibility for their actions and decisions. They need to focus their energies and
time on sustainable growth and working towards opportunities for growth and
progressive development. By enhancing the accountability in leadership a leader enables
richer communication and creates an inviting environment for intercultural dialogue.
2 The challenges of leadership in volatile business environment
Technological advancement - Leaders in present volatile business environment face the
challenge of technological advancement which is evolving due to changing business scenarios.
Leaders are under constant pressure to cope up with the advancement in technological up
gradation for building risk management strategies and regulatory compliance. Technological
advancement aims the leaders to work with superior technology usage and reach the production
targets by keeping business goals in mind.
Globalization - Leaders in the age of globalization cannot limit actions within the limit of
territory of a nation, modern leaders need to think globally in terms of policies which is
interconnected with the world at large. Globalization challenges leaders in adapting changing
business cultures of various countries which are dynamic and continuously evolving. Leaders
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must aim to take decisions in company by working towards globalizing the company structure,
which enhances the overall productivity levels along profit margins.
Changing demographics – Leaders in today's volatile business environment face numerous
challenges with changing demographics at workplace, where workforce is constantly evolving
with changing expectations and working criteria. Leaders face the challenge of adapting work
styles with changing demographics to enable an organization work with efficiency.
Ability to lead through more complexity and ambiguity – Leaders in today's volatile business
environment are under constant pressure to work with changing complexity and ambiguity in
working styles. Leaders need to evolve themselves with effective performance in technological
advancement in working methods at organization which improves their overall ability and
enhance the leadership style (Fernando, 2016).
Pace of change – Leadership in today's volatile business environment are under pressure to
evolve themselves with the pace of change in working methods and use various advanced
technologies in their working methods. The rapid pace of change increases the competition in
companies working in same industry, thus challenging leaders to work technically in formulating
strategies.
Delivering constant and stable growth results – Leaders in today's volatile business
environment face the challenge of delivering constant and stable growth results. The constant
influx of new technologies means that company need to operate with continuous innovation and
function out the duties with utmost sincerity. Leaders need to upgrade their operational
efficiency while delivering their functions.
Internal collaboration – Leaders in today's business environment face challenge in building
strong internal collaboration within the origination as due to dynamic business culture there are
various factors on which employees may feel differentiated. Leaders must focus on building
strong business ethics by working with management principles which fosters creativity and
discipline among employees.
Changing customer preferences – Leaders in today's volatile business environment are under
pressure to adopt new working techniques with changing customer preferences for reaching the
production targets. It is vital to keep up with innovation in the competitive industry for
organizations to gain an edge in marketplace. Leaders must aim to make strategies and decisions
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in production targets by working on market analysis, which enables a detail study about
customer preferences.
3. Different Characteristics of Responsible Leadership
There is a requirement for having right characteristics in a leader of organization so that
the functioning of business can remain smooth. Most important factor that a powerful leader
must have is knowledge of when to talk and when to listen.
Communication
Communication skills in leader has to be good so that communication about changes can
be spread in organizations operational departments easily. Right communication will do its role
very well so that functioning can take place better. There are a lot of changes which are taking
place in all organizations which are there in market. Before communication takes place by leader
it is important to keep future vision for organization and employees of organization very clear.
Employees must understand that how important are changes for the organization and for
themselves to improve their personal skills (Patel, 2017).
Motivated
Leader must be ready for changes themselves which are taking place in organization and
they are well motivated to get the work done in organization. Managing themselves emotionally
and physically is a very important characteristic which they must have to make organization
function better. Leader must have the courage to face all the troubles and conflicts which come
in front of them and solving them is a very important factor (Fernando, 2016).
Confidence
Confidence is another factor which leader should have or at least show in the
organization so that the employees who are working under them are motivated and sure that
leader is thinking for best of them. A responsible leader should take the entire team with them
and motivate them for the changes which are taking place in organization. It is very important for
leaders to inspire everyone in team so that efficiency in business can increase. Changes will take
place but characteristics of an effective leader can help organization to function better.
4. Importance of Demonstrating Responsible Leadership
Leaders play a great role in getting in the changes in organization because they have a
control on employees and it is on employees if organization will continue to function same or
change. Leaders are hired so that they can make the internal functioning of organization better
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and since there are a lot of changes which are taking place. Motivating the employees is a very
important factor when there are changes taking place in organization because that will make the
changes come in the organization smoothly. Employees must be updated about all the decisions
which are taking place in business so that they can mentally be prepared for them to come
(Fernando, 2016). Sudden changes in organization is going to make employees demotivated to
function. Self awareness of leader has to be present in organization and professionalism they care
in organization will be observed so carrying themselves in organization has to match standards of
firm.
Team work in organization is having the business reach their goals and objectives faster
which is a very important factor for business to get a competitive advantage. Team work will
help the organization to have proper functioning which is important through which all employees
are motivated and are giving their best in organization and that can be handled by leader of
business. Self skill's improvement is the knowledge which the employees must get when there
are changes which are taking place in business (Guthey, Kempster and Remke, 2018). Leaders
have to make sure that they are providing employees with the right knowledge about the changes
which are taking place and there is a transparency in the organization regarding the changes.
Leaders are the bridge between the management and the employees and all decisions which are
made by the management has to be implied by the leaders in employees.
A responsible leader only will be able to guidance the other employees in firm when
there is a change which is coming in organization. Employees must have the proper guidance in
company when changes are coming so that can have a clarity in work which will make
functioning in firm better. Training is a part of the leaders functioning in organization therefore it
is very essential for leader to provide employees with that so that standards of firm can be
matched. Handling the different cultures in organization has to be managed because there are
different cultural background factors who are working in firm. Engagement of all employees in
tasks allotted should be there so that tasks can be completed faster only a responsible leader will
be able to do this factor properly. Passion is present in all the employees of organization and that
can be got into action when leader knows functioning and characteristics of a leadership in
organization (Six Roles of a Leader During Change, 2020 ).
Leaders have to make decisions so that they can make the employees of the organization
take out their best and the right skilled employee must be given the right work to do in the
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company so that the company can make the most from it. Behaviour of the leaders play a very
important role as well because the behaviour will reflection in actions which will make the
employees have a negative impact of work environment. Leaders have to make sure that the
employees are getting a positive atmosphere to work in so that organization can get the best from
that factor. Responsible leaders make the best come out from the employees which will make the
organization achieve their targets from time to time.
CONCLUSION
From the above report it can be concluded that the leaders of the organization have a very
important role which they play in firms. The report covers that the functioning and
characteristics of the leaders in detail which they must have in order to make the organization
earn a profit and function smoothly. Self motivated, inspiring, engagement, communication, etc
are present in leaders so that the organization can take out the best from the employees when
there are so many changes which are coming up in organizations. Technological changes is most
which are taking place therefore requirement of leaders and there functions in organization is
very important for firm to understand.
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REFERENCES
Books and Journals
Alford, B., 2019. LEADERSHIP PRACTICES FOR EQUITY AND EXCELLENCE.
Educational Leadership, Culture, and Success in High-Need Schools. p.85.
Bush, T., Bell, L. and Middlewood D. eds., 2019. Principles of Educational Leadership &
Management. SAGE Publications Limited.
Western, S., 2019. Leadership: A critical text. SAGE Publications Limited.
Fernando, M., 2016. Responsible Leadership in Practice. In Leading Responsibly in the Asian
Century (pp. 103-141). Springer, Cham.
Fernando, M., 2016. The Future for Responsible Leadership. In Leading Responsibly in the
Asian Century(pp. 177-190). Springer, Cham.
Guthey, E., Kempster, S. and Remke, R., 2018. Leadership for What?. What’s Wrong With
Leadership?: Improving Leadership Research and Practice.
Turner, P., 2019. The Role of Leaders: The Importance of Leadership. In Leadership in
Healthcar(pp. 45-74). Palgrave Macmillan, Cham.
Online
Patel. D., 2017. [Online]. Available through:
<https://www.forbes.com/sites/deeppatel/2017/03/22/11-powerful-traits-of-successful-
leaders/#4e64e5c6469f>
Six Roles of a Leader During Change. 2020. [Online]. Available through:
<https://www.enclaria.com/2011/10/06/six-roles-of-a-leader-during-
change/>
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