The Business Leaders Approach Management Essay
A simple definition of leadership is that leadership is the ability to a group of people working toward a common goal to motivate. This definition of leadership, I think it captures the essential inspiration and preparation for leadership. Effective management is based on the ideas, but does not occur if these ideas can be communicated to others in a way that the door.
In short, the director of the inspiration and chief operating officer. This is a person, group, owned by his personality and leadership that makes others want to follow their example. The top is welded to the performance. Those who consider themselves effective leaders are the bottom lines of your business to promote.
Also be confused with the definition of leadership, we tend to use the term "administrator" and "treatment" as synonyms, referring to the administrative structure of the direction of the company, or people that really the leaders of the "Leaders" in the various management teams. (Pettinger, R. (2000).
Lakshmi Niwas Mittal pronunciation is an Indian steel magnate. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company .Mittal owns 41 percent of ArcelorMittal and holds a 34 percent stake in the Queens Park Rangers F.C. football team.
In 2006, The Sunday Times named him "Business Person of 2006", the Financial Times named him "Person of the Year", and Time magazine named him "International Newsmaker of the Year 2006". In 2007, Time magazine included him in their "100 most influential persons in the world"
Research the business leader’s approach to leading their organisation
Lashmi mittal for me is having situational approach in his business as mostly successful business men’s doing now a days.
Situational leadership is based on a theory that was developed in 1977 by Paul Hersey, a professor, and Ken Blanchard, a leadership expert who wrote "The One Minute Manager" which focuses on more than the leader. Instead, a leader's actions depend on the situation and the followers. Four styles of leadership are used in the situational approach: delegating, supporting, coaching and directing. The leader selects the appropriate style according to the situation and readiness level of the followers for a particular style of leadership. For example, if the subordinates have a low level of knowledge, the directing style of leadership -- where the leader tells the followers exactly what to do is appropriate.
Situational leadership consists of concepts that are easy to understand and apply across a wide variety of work situations. Many Fortune 500 companies have used it as the basis of their leadership program because of its positive and credible reputation. The situational leader approach also tells the leader exactly what to do for success. This direct approach takes the guesswork out of leadership.
Identify the ‘key’ personal attributes that have contributed to their performance.
After I research about laksmi mittal and other big leaders they have few attributes in common which I am going to mention here.
Personal attributes are those qualities that make you who you are and how people come to recognize and relate to you. Some of these attributes are innate and others may be something you've learned or gained from experience. Every thing we do modifies us in some small way, things we do often become ingrained.
Leaders need to be Capable of applying critical thinking to a range of situations. So whenever they have to face the new situation the should critically analyze them.
Energy and enthusiasm for the job and the organization is the key for gowth because these are the things which takes the organizations in to the next levels. and gives more confidence to the leaders.
Ability to handle change, to welcome it and use it for growth
Leaders should evaluate whether this leader could have been as effective in a different context or organization, giving a credible argument for this supported by referenced theory
6. Communication Skills
As a successful business professional, you must be able to communicate your ideas to others. Communication is especially important in accounting. Accounting information is of little value unless it can be communicated to managers and affect the decision-making process.
Written communication provides the reader with an impression of your professional image. Many sources exist that provide checklists for planning and organizing written communication. checklists provide suggestions.
Effective communication requires both a messenger and receiver. Too often we focus on
the qualities of the messenger. The ability to listen is equally as important as the ability to
prepare an oral or written message. Effective listening provides managers with important
information about the operation of the business, the attitudes of employees, and the needs of the customers.
Examine the style, approach and content of the leadership demonstrated, with specific examples supported by credible evidence.
I am considering Lakshmi mittal into transformational leadership style because Transformational leadership is a type of leadership style that leads to positive changes in those who follow. Transformational leaders are generally energetic, enthusiastic and passionate. Not only are these leaders concerned and involved in the process; they are also focused on helping every member of the group succeed as well.
Lakshmi Mittal played a key role in consolidation of global steel industry. He has also pioneered the development of integrated mini-mills and the use of “Directly reduced Iron” (DRI) as a scrap substitute for steelmaking. This was all possible by the world class business hang of Mittal, his adaptive and transformational leadership style, his seamless ability to tap business potential in different countries.
One such example is Sam Walton, founder of Wal-Mart, who often visited Wal-Mart stores across the country to meet with associates to show his appreciation for what they did for the company. Sam Walton gave “rules for success” in his autobiography, one of which was to appreciate associates with praise (Walton, 1996).
Mahatma Gandhi is a great example of a transformational leader, because he satisfied the needs of his followers. But instead of riding those needs to power, he remained sensitive to a higher purpose. His vision of leadership went beyond himself. He believed in satisfying the needs of all that followed him..
There is a lot to be learned from the management and leadership of Virgin Group Ltd. Chairman Richard Branson has created a unique management formula that has contributed to the long term success of the company. Although there is a clear distinction between management and leadership, the company has been able to integrate a blend of each in many aspects of the business. The transformational leadership has proved to be a valuable tool for executives, managers, and workers alike. Employees within the company have a willingness to work together to expand and improve the company in order to reach their own personal success in life.
Evaluate whether this leader could have been as effective in a different context or organization, giving a credible argument for this supported by referenced theory
Leaders for me could not be successful most of the situation we will put him. Because leaders for me have the born skills to be leader. But few can do good on every situations. Leaders like who were doing small odd jobs in start of their career and then transformed these selves in to world biggest leaders and we have many examples of leaders of such kinds.
Abraham Lincoln was born in a log cabin in rural Hardin (now Larue) County, Kentucky, the son of an illiterate carpenter and farmer. Young Lincoln received little formal schooling and was largely self-taught. The family moved to Indiana and later to Illinois.
In 1831, Abe Lincoln moved to New Salem, Illinois, near Springfield. He held various jobs there, including storekeeper and mill operator. In 1832, he led a militia contingent in the Black Hawk War, but saw no action. Back in New Salem, Lincoln failed in the grocery business, incurring a heavy debt. He worked as a surveyor and rail-splitter and began the study of law.
Beginning his political career as a Whig, Lincoln was elected to the first of four terms in the Illinois legislature in 1834. Two years later, he was admitted to the bar and subsequently embarked upon several law partnership ventures, the most notable being that with William Herndon, later a Lincoln biographer. He became aligned with the Whig Party and developed a reputation as a skillful attorney. In 1842, he married Mary Todd, the daughter of a socially prominent Lexington family.
Abraham Lincoln is regarded by most authorities as America’s greatest president, despite the fact that many others in that office had superior education and experience. His greatest contribution lay in preserving the Union. Perhaps the most eloquent expression of his conviction regarding this was his address given on November 19, 1863 at the Gettysburg battlefield, where many thousands of Union and Confederate soldiers had lost their lives.
His absolute conviction that he was taking the proper course of action enabled him to persevere while others recoiled at the immense cost and suffering caused by the war, leading them to entertain thoughts of peace without victory. Lincoln had little military experience, but was forced to develop such skills because his early generals repeatedly proved to be inept.
Abraham Lincoln was not a highly experienced national politician in 1860, but his humor and willingness not to address every criticism earned him the trust of many political leaders. In an age of overblown oratory, Lincoln made his points with simple eloquence.
The above research examines how the effectiveness of transformational leadership may vary depending on the cultural values of an individual. We develop the logic for why the individual value of traditionally (emphasizing respect for hierarchy in relationships) moderates the relationship between six dimensions of transformational leadership and leadership effectiveness. The hypotheses are examined on leaders from Asia and North America. The results indicate support for the moderating effect of traditional values on the relationship between four dimensions of transformational leadership (appropriate role model, intellectual stimulation, high performance expectations, and articulating a vision) on leadership effectiveness.
Transformational leadership has gained academic attention over the last 20 years as a new paradigm for understanding leadership. The notion of transformational leadership was developed under the tutelage of Bernard Bass (1997). Transformational leaders define the need for change, develop a vision for the future, and mobilize follower commitment to achieve results beyond what would normally be expected. In well over 100 empirical studies, transformational leadership has been found to be consistently related to organizational and leadership effectiveness (Bryman, 1992; Lowe, Kroeck, & Sivasubramaniam, 1996). These results hold in a wide range of samples and contexts from Fortune 100 business organizations, to military units, to presidential administrations.
Recently, several studies have examined transformational leadership beyond a North American context. For example, Dorfman and Howell (1996) examined the display of transformational and transactional leadership behaviors in Mexico, as did Yokochi (1989) in Japan, Kuchinke (1999) in Germany, and Ardichvili and Gasparishvili (2001) in Eastern Europe. In these studies, researchers found evidence for the existence of transformational leadership behaviors in each culture.
The potential for cross-cultural discrepancies is expected to increase in today’s competitive, global business environment. Most large companies have an increasing percentage of sales and profits outside their home country (Adler, 2001). Moreover, the workforce is becoming more culturally diverse with more mergers/acquisitions, joint ventures, and buyer-supplier relationships crossing national boundaries (Bartlett & Ghoshal, 1998). Given the increased globalization of today’s business environment, a better understanding of how the effectiveness of different styles of leadership may vary with individual cultural orientations becomes important (Dorfman & Howell, 1997). Thus, our purpose is to better understand the effectiveness of transformational leadership across individuals holding different cultural values. As will be described below, we are particularly interested in the cultural value of traditionality, a foundation of Confucian societies.
As the business world increasingly becomes a global marketplace, we need a better understanding of the cultural boundaries of leadership. Today, with the global expansion of businesses, we see more opportunities for cross-cultural interactions within organizations and with customers and suppliers. While in the past, it was not uncommon for a U.S. expatriate to manage a foreign business, today, we are likely to see a manager from one country managing a team of employees from a wide range of other countries on a transnational team (Earley & Gibson, 2002). It is not clear what effective leadership looks like when one is leading an international array of employees. This research suggests that by understanding the cultural values of those involved, we can develop a better understanding of what effective leadership will look like.
Is transformational leadership positively related to effectiveness regardless of culture? Based on this study, yes. Does this positive relationship work the same way, regardless of culture? Based on this study, no. We found that those with more traditional cultural values see a weaker link between transformational leadership and leadership effectiveness compared to those with less traditional cultural values. The obvious next step is to study other possible different moderating cultural values using different samples. It is not really enough to know if transformational leadership works across cultures. Now, we need to gain a better understanding of how, when and why it works.
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