“An organizational strategy is the sum of the actions a company intends to take to achieve long-term goals (Johnson, 2016)”. Organizational strategy is derived from a company 's mission, which tells why an organisation is in business. There are three important aspects of organizational strategy such as resources, scope and the company’s core competency (Johnson, 2016). As Johnson (2016) postulated that top management produces the larger organizational strategy, while middle and lower management adopt goals and plans to satisfy the overall strategy. Germano (2010) states that leadership has a significant impact upon organisation and its success, whereby leaders determine values, culture and employee motivation. Additionally, he further added …show more content…
In this regard, leaders and managers can appear at any level of an organisation and are not exclusive of each other (Germano, 2010). Leadership theories identify leaders based upon traits as well as how their influence and power is used to achieve organizational goals and objectives (Germano, 2010). As such, trait based characteristics include leaders such as autocratic, democratic, bureaucratic and charismatic. On the other hand, leadership that is viewed from the perspective of the exchange of power and its utilisation to secure outcomes, are situational, transactional and transformational leaders (Germano, 2010). It is of paramount importance to consider the different types of theories of management and leadership and their potential impact on organizational strategy being that management and leadership plays a vital role in the success of businesses. This paper will be discussing CIBC FirstCaribbean International Bank organisational strategy to ascertain which theories impacts the …show more content…
This model states that in this 21st century, it is impossible to rely on one management style to fit all situations (Educational-business-articles.com, 2016). In other words managers and leaders must be flexible, in order to get the best result out of their teams and individuals. In addition, this theory allows management and leadership to be able to identify and accurately diagnose the situation and vary employees’ behavior accordingly to the situation (Yukl and Mahsud, 2010). This will enable management and leadership at CIBCFCIB to select appropriate types of leadership behavior for each type of situation. Moreover, another impact that this theory has on organizational strategy whereby Charismatic leaders at CIBCFCIB can minimize various types of behaviour by increasing competent employees. For example, selecting experienced employees and delegate authority to them for resolving problems (Yukl and Mahsud, 2010). This will lessen the stress of management and leadership to guide the team effectively towards accomplishing the organisational
Managers implement a company’s vision and strategic plan, whereas, leaders create and articulate that vision and plan. There are five approaches to leadership. They are trait theory, behavioral theory, situational theory, transformational theory and three additional perspectives, known as leader,
WRITTEN ASSIGNMENT – UNIT 7 – PRO AND CON LIST OF THREE OF LEADERSHIP THEORIES – 1. SITUATIONAL LEADERSHIP THEORY 2. SERVANT LEADERSHIP 3. PATH-GOAL THEORY OF LEADERSHIP INTRODUCTION Leadership in any community, organization, business, country, continent or even the around the globe is a necessity not just a nice to have to steer or drive that body towards a certain direction or a common goal.
Therefore there has been several authors like Fullan, 2001; Storey, 2004 Thrupp & Willmott, 2003 who have shown that it is difficult to distinguish between leadership and management. Kotter states that management and leadership in some ways are similar (1990, p. 5) but he goes on to say that even more fundamentally, leadership and management differ in terms of their primary functions. The first can produce useful change the second can create orderly results which keep an
Leadership is a process of interactions between leader and other staff, where a leader is as a guidance that inspires other staff with vision (Marquis & Houston, 2012). A well known type of leadership theory are transformational leadership which were said has a positive
Strategy is primarily people for setting and implementing strategy and monitoring performance. The primary role is to fit with all other forces. Structure basic design on how our people are organized to do our job. This let us know how centralized are you.
It’s the era of 21st century and a decade and half of it is already passed. The idea of leadership is as old as man’s life and human civilization. For decades the leadership has been the source of various noticeable studies and much research has been done on this particular domain. Theories of leadership are developing and evolving since 1840’s with the occurrence of Great man theory, trait theories (1940’s-1950) and then contingency theories (1960’s), transactional and transformation theory of leadership (1970’s). From many centuries, all these leadership theories are an important resource of learning in reality as well as in practice.
Strategic Management and Planning In order to operate smoothly and be successful strategy is needed; it can be used by executives to create a plan of action in order for the organization to perform better than its competitors. This is also needed in order to gain more revenue. The vision, creation of strategy to assess the environment, appraisal of company capability crafting of future strategies, implementing strategies and the evaluation and control of the strategy are the steps in the strategies management process. (Thompson, Peteraf & Strickland, 2016).
There are few theories and concepts in the Leadership chapter. This theories and concepts explain us about how the organization runs and what type of people and talents are needed to run the organization. First theory in the chapter is Trait theories. This theories focus on the personality, characteristics and emotional intelligence to differentiate the leaders and non-leaders. In this theory, there is also some aspects from the Big Five Personality Framework such as extroversion, conscientiousness and openness to experience and also agreeableness.
This paper will examine the three leadership theories, identify how they apply to my practice, and explore how these theories interact with each other. The Trait Leadership Theory is based on the belief that a person is born with special traits contributing to natural leadership abilities. Studies of famous historical leaders have been used to identify various traits for this theory. Although the list of traits differs from study to study, there are five major traits that are consistent throughout most studies.
Introduction- The leadership and management are two important pillars of modern day business. “You manage things; you lead people” Grace Hopper (retired Admiral, U.S. Navy). On one hand managers, not only motivate people but they also set the course of direction and organize to achieve the targets.
Leadership: Definition Leadership is the process of influencing the motive of the employees and so directing, guiding them to the proper completion of the short-term goals and the mission, vision of the firm. Leadership referring to achieve a specific set of goals of the business enterprise by minimizing risk and more advantage of opportunities is also called Entrepreneurial Leadership (Rao, 2015). Today leadership is such an iterative process when the leaders should have a variety of qualities and expertise in different area of management. Here, different theories will be explained which can clearly identify the scope, the responsibilities and the area of expertise required to be successful leader.
If the behavior theory can identify the key determinants of leadership, people can actually train to become a leader. This is the premise of the management development plan. There are many different types of behavioural leadership styles. Each style suggests that the leadership role is based on the leaders’ concern for the people being led and the level of achievement that needs to be
EXECUTIVE SUMMARY Leadership has been a topic of interest to historians and philosophers since ancient times, but scientific studies began only in the twentieth century. Scholars and other writers have offered hundreds of definitions of the term LEADERSHIP, and one authority on the subject has concluded that leadership “is one of the most observed and least understood phenomena on earth”. First reading explains about how Latham found an inability to converge or a universal answer about leadership. There were also notion whether leaders are born or made. Managerial practises, trust and performance is part of leadership which improves team work and organizational performance.
The Inclusive Leader In a competitive global market the relies heavily on a diversified workforce, having an inclusive leader has grown in importance. Setting up and controlling the corporate culture starts at the top of the organization with establishing a leader that has a clear focus on the type of organization they need to have (Billimoria, 2012). As such, an organization that subscribes to inclusive leadership will look for specific traits in their leaders, the leader will posses specific skills sets, and have the ability to apply these skills and traits in the workforce. Traits of an Inclusive Leader Taylor (2015) states the six key traits of an inclusive leader are commitment, courage, cognizance, curiosity, cultural intelligence,
While many different management styles in different organizations to provide in-depth over relating ranging form facilitative styles to autocratic, micromanaging and relatively hands-off styles. There are various theories about different styles, situation and effective on transformational and transactional leadership. The best way is evaluate of other superior on each theory before the discussion on transformational and transactional leadership. They are two opposites direction when it comes to the underlying theories of leader management.