Corporate Leadership 1. Leadership What is Leadership? Leadership is an interactive conversation that pulls people toward becoming comfortable with the language of personal responsibility and commitment. Leadership is not just for people at the top. Everyone can learn to lead by discovering the power that lies within each one of us to make a difference and practicing the law of reciprocity. Effective leadership can happen on the dance floor of conversation So now can we say that Leadership is nothing but, "The ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organizations of which they are members". No matter how one defines leadership, it typically involves an element of vision. A vision provides direction to the influence process. A leader (or group of leaders) can have one or more visions of the future to aid them to move a group successfully towards this goal. OR Leadership is a process by which a person influences others to accomplish an objective and directs the organization in a way that makes it more cohesive and coherent. Leaders carry out this process by applying their leadership attributes, such as beliefs, values, ethics, character, knowledge, and skills. Although your position as a manager, V.E.S. College 1
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Transcript
Corporate Leadership
1. Leadership
What is Leadership?
Leadership is an interactive conversation that pulls people toward becoming comfortable with the language of personal responsibility and commitment.
Leadership is not just for people at the top. Everyone can learn to lead by discovering the power that lies within each one of us to make a difference and practicing the law of reciprocity.
Effective leadership can happen on the dance floor of conversation So now can we say that Leadership is nothing but, "The ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organizations of which they are members". No matter how one defines leadership, it typically involves an element of vision. A vision provides direction to the influence process. A leader (or group of leaders) can have one or more visions of the future to aid them to move a group successfully towards this goal.
OR
Leadership is a process by which a person influences others to accomplish an objective and directs the organization in a way that makes it more cohesive and coherent.
Leaders carry out this process by applying their leadership attributes, such as beliefs, values, ethics, character, knowledge, and skills. Although your position as a manager, supervisor, lead, etc. gives you the authority to accomplish certain tasks and objectives in the organization, this power does not make you a leader...it simply makes you the boss.
Good leaders are made not born. If you have the desire and willpower, you can become an effective leader. Good leaders develop through a never ending process of self-study, education, training, and experience.
The basis of good leadership is honorable character and selfless service to your organization. In your employees' eyes, your leadership is everything you do that effects the organization's objectives and their well being. Respected leaders concentrate on what they are [be] (such as beliefs and character), what they know (such as job, tasks, and
human nature), and what they do (such as implementing, motivating, and provide direction).
What makes a person want to follow a leader? People want to be guided by those they respect and who have a clear sense of direction. To gain respect, they must be ethical. A sense of direction is achieved by conveying a strong vision of the future.
So in a nutshell -- you must be trustworthy and you have to be able to communicate a vision of where the organization needs to go.
Purpose of Leadership
Leadership is a way of focusing and motivating a group to enable them to achieve their aims. It also involves being accountable and responsible for the group as a whole.
A leader should:
provide continuity and momentum be flexible in allowing changes of direction
Ideally, a leader should be a few steps ahead of their team, but not too far for the team to be able to understand and follow them.
Characteristics of Leadership
Involves guiding and motivating. Influences subordinates through personal qualities.
Edwin Flippo has defined leadership type as “a pattern of behavior designed to integrate organizational and personal interest in pursuit of some objectives.” Important types of leadership are as below;
1. Autocratic Leadership
The autocratic leader takes decisions and expects other to execute them without any questions. Autocratic leadership has no place in professional management.
2. Democratic/Participative Leadership
Democratic leadership is constructive sympathetic towards subordinates. It creates participative management. The subordinates are loyal to democratic leader.
3. Laissez Faire or Free Style Leadership
Under this type guidance from the leadership is limited and many matters are left for the consideration and decisions by subordinate. This leader is rather indifferent to his responsibilities.
4. Functional/Intellectual Leadership
Functional leader is usually a professional expert with technical education, knowledge and practical experience. His knowledge makes him popular and he is able to divert energies of employees for achieving objectives.
5. Bureaucratic Leadership
Bureaucratic leadership is noticed in case of government departments, public bodies and public sector enterprises. It is not effective in the business world. Human element is lacking in such leadership.
6. Situational Leadership
An ideal leader studies the overall situations, draws conclusions and adopts the leadership style which is most appropriate to the prevailing situation. This is the essence of situational leadership. This leadership is the combination of all types of leadership.
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”The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.”- John Maxwell
2. Corporate Leadership
What is Corporate Leadership?
There is no proper definition about Corporate Leadership as such but one can always state the following;
Leadership is one of the important aspects of management. Corporate leadership is required to lead and guide the subordinates to perform organizational tasks effectively and efficiently.
The basis of good leadership is honorable character and selfless service to your organization. In your employees' eyes, your leadership is everything you do that effects the organization's objectives and their well being. Respected leaders concentrate on what they are [be] (such as beliefs and character), what they know (such as job, tasks, and human nature), and what they do (such as implementing, motivating, and provide direction).
What makes a person want to follow a leader? People want to be guided by those they respect and who have a clear sense of direction. To gain respect, they must be ethical. A sense of direction is achieved by conveying a strong vision of the future.
So in a nutshell -- you must be trustworthy and you have to be able to communicate a vision of where the organization needs to go.
FollowerDifferent people require different styles of leadership. For example, a new hire requires more supervision than an experienced employee. A person who lacks motivation requires a different approach than one with a high degree of motivation. You must know your people! The fundamental starting point is having a good understanding of human nature, such as needs, emotions, and motivation.
LeaderYou must have an honest understanding of who you are, what you know, and what you can do. Also, note that it is the followers, not the leader who determines if a leader is successful. If they do not trust or lack confidence in their leader, then they will be uninspired. To be successful you have to convince your followers, not yourself or your superiors, that you are worthy of being followed.
CommunicationYou lead through two-way communication. Much of it is nonverbal. For instance, when you "set the example," that communicates to your people that you would not ask them to perform anything that you would not be willing to do. What and how you communicate either builds or harms the relationship between you and your employees.
SituationAll are different. What you do in one situation will not always work in another. You must use your judgment to decide the best course of action and the leadership style needed for each situation. For example, you may need to confront an employee for inappropriate behavior, but if the confrontation is too late or too early, too harsh or too weak, then the results may prove ineffective.
Various forces will affect these factors. Examples of forces are your relationship with your seniors, the skill of your people, the informal leaders within your organization, and how your company is organized.
Attributes of Corporate Leadership
To inspire your workers into higher levels of teamwork, there are certain things you must be, know, and, do. These do not come naturally, but are acquired through continual work and study. Good leaders are continually working and studying to improve their leadership skills; they are NOT resting on their laurels.
If you are a leader who can be trusted, then those around you will grow to respect you. To be such a leader, there is a Leadership Framework to guide you:
BE KNOW DO BE a professional. Examples: Be loyal to the organization, perform selfless service, take personal responsibility.
BE a professional who possess good character traits. Examples: Honesty, competence, candor, commitment, integrity, courage, straightforwardness, imagination.
KNOW the four factors of leadership - follower, leader, communication, situation.
KNOW yourself. Examples: strengths and weakness of your character, knowledge, and skills.
KNOW human nature. Examples: Human needs, emotions, and how people respond to stress.
KNOW your job. Examples: be proficient and be able to train others in their tasks.
KNOW your organization. Examples: where to go for help, its climate and culture, who the unofficial leaders are.
DO provide direction. Examples: goal setting, problem solving, decision making, planning.
DO implement. Examples: communicating, coordinating, supervising, evaluating.
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DO motivate. Examples: develop moral and esprit in the organization, train, coach, counsel.
Principles of Corporate Leadership
To help you be, know, and do; follow these principles of leadership;1. Be technically proficient - As a leader, you must know your job and have a solid
familiarity with your employees' tasks. 2. Seek responsibility and take responsibility for your actions - Search for ways
to guide your organization to new heights. And when things go wrong, they always do sooner or later -- do not blame others. Analyze the situation, take corrective action, and move on to the next challenge.
3. Make sound and timely decisions - Use good problem solving, decision making, and planning tools.
4. Set the example - Be a good role model for your employees. They must not only hear what they are expected to do, but also see. We must become the change we want to see - Mahatma Gandhi
5. Know your people and look out for their well-being - Know human nature and the importance of sincerely caring for your workers.
6. Keep your workers informed - Know how to communicate with not only them, but also seniors and other key people.
7. Develop a sense of responsibility in your workers - Help to develop good character traits that will help them carry out their professional responsibilities.
8. Ensure that tasks are understood, supervised, and accomplished - Communication is the key to this responsibility.
9. Train as a team - Although many so called leaders call their organization, department, section, etc. a team; they are not really teams...they are just a group of people doing their jobs.
10. Use the full capabilities of your organization - By developing a team spirit, you will be able to employ your organization, department, section, etc. to its fullest capabilities.
Ready to Lead?
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“A business short on capital can borrow money and one with poor location can move. But a business short on leadership has little chance of survival”
-Warren Bennis
3. Role of Leaders
Introduction Leadership is one of the most important aspects of management. Effective leadership is
required to lead and guide the subordinates to perform organizational tasks effectively
and efficiently.
Role of Leaders The role/importance of leadership is reflected in the following functions:
1. Goal Setting: leader has to set the goals and objectives for his section or group.
Goal setting is one of the important functions of a leader. The goals may be set all
by himself, or he may take the help of his subordinates in setting the goals.
2. Developing Morale: one of the important functions of leader is to develop
morale in his subordinates. He always strives to keep his subordinates in a good
mood or high spirits. He always tries to develop positive in his subordinates.
3. Securing Willing Participation: the leader influences the subordinate to
work willingly towards group objectives. A good leader never uses force to make
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the subordinates work. As a good example on his part, he takes active part in the
activities of the group.
4. Motivates subordinates: a leader motivates subordinates for better
performance. He may provide unnecessary incentives – monetary incentives and /
or non-monetary incentives.
5. Organizes Resources: a leader has to make arrangements of the resources.
Such arrangement of resources is required to undertake activities.
6. Encourages Initiative: the leader encourages initiative among his
subordinates. He provides them with freedom to come up with new and
innovative suggestions and ideas. He creates a healthy environment in which the
subordinates take active interest in the accomplishment of objectives.
7. Developing Team Spirit: the leader co-ordinates the activities of his
subordinates. If there is any difference of opinion among his subordinates, he
strives to solve the differences. He makes every effort to develop team spirit in his
subordinates. A good leader does not believe in divide and rule policy.
8. Representation: the leader is the representative of his subordinates. He
represents his subordinates whenever there is a need to express their views with
higher authorities within or outside the organization.
9. Creating Confidence: a good leader creates confidence in his subordinates.
He makes them to accept and face challenges.
10. Providing Direction: an effective leader provides directions to his followers.
He provides necessary instructions and orders to perform properly towards the
achievements of goals.
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“The defining role of a leader is to sort out a message”
- Fortune
4. Leadership vs. Management
Leadership versus management, they are definitely two different
animals
The Difference between Management and Leadership
Leadership and management are two notions that are often used interchangeably.
However, these words actually describe two different concepts. In this section, we shall
discuss these differences and explain why both terms are thought to be similar.
Leadership is a facet of management
Leadership is just one of the many assets a successful manager must possess. Care must
be taken in distinguishing between the two concepts. The main aim of a manager is to
maximize the output of the organization through administrative implementation. To
achieve this, managers must undertake the following functions:
organization
planning
staffing
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directing
controlling
Leadership is just one important component of the directing function. A manager cannot
just be a leader; he also needs formal authority to be effective. "For any quality initiative
to take hold, senior management must be involved and act as a role model. This
involvement cannot be delegated."
In some circumstances, leadership is not required. For example, self motivated groups
may not require a single leader and may find leaders dominating. The fact that a leader is
not always required proves that leadership is just an asset and is not essential.
Differences in Perspectives
Managers think incrementally, whilst leaders think radically. "Managers do things right,
while leaders do the right thing." This means that managers do things by the book and
follow company policy, while leaders follow their own intuition, which may in turn be of
more benefit to the company. A leader is more emotional than a manager . "Men are
governed by their emotions rather than their intelligence." This quotation illustrates why
teams choose to follow leaders.
"Leaders stand out by being different. They question assumption and are suspicious of
tradition. They seek out the truth and make decisions based on fact, not prejudice. They
have a preference for innovation."
Subordinate as A Leader
Often with small groups, it is not the manager who emerges as the leader. In many cases
it is a subordinate member with specific talents who leads the group in a certain direction.
"Leaders must let vision, strategies, goals, and values be the guide-post for action and
behavior rather than attempting to control others."
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When a natural leader emerges in a group containing a manager, conflict may arise if
they have different views. When a manager sees the group looking towards someone else
for leadership he may feel his authority is being questioned.
Loyalty
Groups are often more loyal to a leader than a manager. This loyalty is created by the
leader taking responsibility in areas such as:
Taking the blame when things go wrong.
Celebrating group achievements, even minor ones.
Giving credit where it is due.
"The leader must take a point of highlighting the successes within a team, using charts or
graphs, with little presentations and fun ideas"
"Leaders are observant and sensitive people. They know their team and develop mutual
confidence within it."
The Leader Is Followed. The Manager Rules
A leader is someone who people naturally follow through their own choice, whereas a
manager must be obeyed. A manager may only have obtained his position of authority
through time and loyalty given to the company, not as a result of his leadership qualities.
A leader may have no organizational skills, but his vision unites people behind him.
Management Knows How It Works
Management usually consists of people who are experienced in their field, and who have
worked their way up the company. A manager knows how each layer of the system works
and may also possess a good technical knowledge. A leader can be a new arrival to a
company who has bold, fresh, new ideas but might not have experience or wisdom.
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Are You A Manager Or A Leader?
Although you may hear these two terms thrown out interchangeably, they are in fact two
very different animals complete with different personalities and worldviews.
By learning whether you are more of a leader or more of a manager, you will gain the
insight and self-confidence that comes with knowing more about yourself. The result is
greater impact and effectiveness when dealing with others and running your business.
We are going to take a look at the different personality styles in leadership versus
management, the attitudes each have toward goals, their basic conceptions of what work
entails, their relationships with others, and their sense of self (or self-identity) and how it
develops.
Last of all, we will examine leadership development and discover what criteria are
necessary for leaders to reach their full potential.
Difference in personality styles.
Managers - emphasize rationality and control; are problem-solvers (focusing on goals,
resources, organization structures, or people); often ask question, "What problems have
to be solved, and what are the best ways to achieve results so that people will continue to
contribute to this organization?"; are persistent, tough-minded, hard working, intelligent,
analytical, tolerant and have goodwill toward others.
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Leaders - are perceived as brilliant, but sometimes lonely; achieve control of themselves
before they try to control others; can visualize a purpose and generate value in work; are
Managers - adopt impersonal, almost passive, attitudes toward goals; decide upon goals
based on necessity instead of desire and are therefore deeply tied to their organization's
culture; tend to be reactive since they focus on current information.
Leaders - tend to be active since they envision and promote their ideas instead of
reacting to current situations; shape ideas instead of responding to them; have a personal
orientation toward goals; provide a vision that alters the way people think about what is
desirable, possible, and necessary.
Conceptions of work.
Managers - view work as an enabling process; establish strategies and makes decisions
by combining people and ideas; continually coordinate and balance opposing views; are
good at reaching compromises and mediating conflicts between opposing values and
perspectives; act to limit choice; tolerate practical, mundane work because of strong
survival instinct which makes them risk-averse.
Leaders - develop new approaches to long-standing problems and open issues to new
options; first, use their vision to excite people and only then develop choices which give
those images substance; focus people on shared ideals and raise their expectations; work
from high-risk positions because of strong dislike of mundane work.
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Managers and leaders have very different relations with others.
Managers - prefer working with others; report that solitary activity makes them anxious;
are collaborative; maintain a low level of emotional involvement in relationships; attempt
to reconcile differences, seek compromises, and establish a balance of power; relate to
people according to the role they play in a sequence of events or in a decision-making
process; focus on how things get done; maintain controlled, rational, and equitable
structures ; may be viewed by others as inscrutable, detached, and manipulative.
Leaders - maintain inner perceptiveness that they can use in their relationships with
others; relate to people in intuitive, empathetic way; focus on what events and decisions
mean to participants; attract strong feelings of identity and difference or of love and hate;
create systems where human relations may be turbulent, intense, and at times even
disorganized.
The Self-Identity of managers versus leaders is strongly
influenced by their past.
Managers - report that their adjustments to life have been straightforward and that their
lives have been more or less peaceful since birth; have a sense of self as a guide to
conduct and attitude which is derived from a feeling of being at home and in harmony
with their environment; see themselves as conservators and regulators of an existing
order of affairs with which they personally identify and from which they gain rewards;
report that their role harmonizes with their ideals of responsibility and duty; perpetuate
and strengthen existing institutions; display a life development process which focuses on
socialization...this socialization process prepares them to guide institutions and to
maintain the existing balance of social relations.
Leaders - reportedly have not had an easy time of it; lives are marked by a continual
struggle to find some sense of order; do not take things for granted and are not satisfied
with the status quo; report that their "sense of self" is derived from a feeling of profound
separateness; may work in organizations, but they never belong to them; report that their
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sense of self is independent of work roles, memberships, or other social indicators of
social identity; seek opportunities for change (i.e. technological, political, or ideological);
support change; find their purpose is to profoundly alter human, economic, and political
relationships; display a life development process which focuses on personal mastery...this
process impels them to struggle for psychological and social change.
Distinguishing characters of managers and leaders
Managers LeadersManagers administer Leaders innovate
Managers ask how and when Leaders ask what and why
Managers focus on systems Leaders focus on people
Managers do things right Leaders do the right things
Managers maintain Leaders develop
Managers rely on control Leaders inspire trust
Managers have a short-term perspective Leaders have a longer-term
perspective
Managers accept the status-quo Leaders challenge the status-quo
Managers have an eye on the bottom line Leaders have an eye on the horizon
Managers imitate Leaders originate
Managers emulate the classic good soldier Leaders are their own person
Managers copy Leaders show originality
Conclusion
Managing and leading are two different ways of organizing people. The manager uses a
formal, rational method whilst the leader uses passion and stirs emotions. The choices
between leadership versus management are profound, and both are highly valuable to a
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strong organization. Leaders are a rare breed of people that are self motivated and seek
knowledge. Leaders are readers and leaders yearn to learn.
Leadership differs from management because it makes the followers want to achieve high
goals, rather than simply bossing people around.
”Management is efficiency in climbing the ladder of success; leadership determines whether
the ladder is leaning against the right wall.”
- Stephen R. Cove
5. Traits to Lead
Introduction
These traits are applicable to all leaders, not just to those who must take men into the cauldron of combat. They are equally applicable to the successful businessperson, corporate executive or volunteer worker. They are just as important to the educator or administrator.
Leadership Qualities
Leadership qualities divided into following two categories;
1. Personal Traits
Bearing
Courage
Dependability
Endurance
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Enthusiasm
Initiative
Integrity
Loyalty
Tact
Unselfishness
Bearing The first trait is bearing. Bearing determines how you are seen by those you
would influence. Do not confuse bearing with some preconceived idea of proper dress. This is not about the quality of your clothes; it is about the person inside. It is about how you present yourself. It is about self-confidence. Are you worthy of attention? It is hard to give a leader a full measure of credence if you cannot get past a careless appearance or a timid deportment, which can denigrate confidence in the leader's message. Speaking directly, with confidence and with a carriage that says, "I know what I'm talking about," is an important trait for successful leadership.
Courage The next trait is courage. Courage comes in two forms: physical and moral.
Although we certainly hope that there is no need for physical courage on our campuses, moral courage is a fundamental requirement of all effective leaders. Moral courage is a commitment to doing what is right. A leader must commit to inviolate principles; there is no room for situational ethics. Leaders worthy of respect do the right thing, in the right way, for the right reasons. Young people who are still struggling with the development of such qualities within their own character respect honesty, trustworthiness, equity, and honor. They respect leaders who stand up for what is right.
Dependability Another basic tenet of leadership is dependability. Can you be depended on? The
meaning seems clear enough. Students must be able to depend on the faculty to manage the institution, to be on time for class, and to perform the perfunctory duties associated with their positions. But leadership also requires more. Those being led need leaders who are genuinely concerned for the welfare of those they are leading. They need role models. Leaders do not have jobs to which they come and then leave. Leaders must be dependable people - all the time.
Endurance Endurance is a trait easily associated with the rigors of combat. It conjures images
of physical stamina and sustained hardship. But endurance can also mean patience. It can mean going the distance with a person who is struggling. It can mean taking the long
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view for the greater good of an institution. Endurance, as the word implies, means staying with things, even when the going gets rough.
Enthusiasm Enthusiasm is a trait easily identifiable in successful leaders of all walks of life. It
is easy to infuse energy when you exude energy. Enthusiasm is more than just attitude, however. It permeates the work at hand. Routine lectures become interesting presentations and tedious projects become intriguing endeavors. Enthusiasm is contagious - and doubly so when it originates from a figure whom people respect.
Initiative A leader who simply does what he or she has been assigned to do will not be seen
as much of a leader. But anyone who displays a high degree of initiative is instantly recognized as a leader. Are you satisfied with the status quo or can you think and act outside of the box? Throughout the history of our country, those who have offered vision, who have acted insightfully, have been our greatest leaders. Initiative sets you apart.
Integrity Integrity is closely related to moral courage. But whereas moral courage is
centered on the willingness to take action, integrity is a spotlight into your soul. Integrity is more than the manifestation of your honesty. It is the litmus test of respect - it determines whether you will be taken seriously or not. Fail the integrity test in a young person's eyes and you will fail to be a positive influence on them.
Loyalty Loyalty is an interesting leadership trait. You cannot build or gather loyalty. It
must be given to you freely by those you lead. You can ask much from them, but you cannot tell them to be loyal. You earn loyalty in two ways. First you exhibit character worthy of loyalty. Your reputation is important. We follow those we admire and respect. Second, to be worthy of allegiance you must exhibit loyalty yourself. Loyalty flows two ways. If you are not sincere in caring about those over whom you have authority, how can you expect them to care about you or what you are trying to accomplish?
Tact Leaders must use tact. This is a simple enough concept, but it often is not so
simple to execute. Good people skills go a long way in the art of leadership. There are many ways to convey a message. No one appreciates an uncaring dismissal or a careless evaluation. Often the meaning of our message can be overpowered by its poor presentation. Where and how we communicate can be as important as the words themselves. The old adage of praise in public and reprimand in private is an axiom of effective leadership.
Unselfishness Finally, leaders must be unselfish. Unselfishness is instantly recognized and
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appreciated. It manifests itself in many forms, from taking the time to properly prepare for class to being accessible after hours. Subordinates and followers need to know that their leader has their best interests at heart. This should be an especially easy trait for those who have committed themselves to education. Yet remember that in leadership, perception is nearly as important as reality. You know you have their best interests at heart, but that is not enough. They must know it, too.
2. Managerial Traits
Decisiveness
Judgment
Knowledge
Sense of Justice
Decisiveness Decisiveness is easy to understand, but sometimes difficult to achieve. Some of us
are inherently decisive, and some of us are not. But regardless of your personality, decisiveness is an important part of leadership. Do not, however, confuse decisiveness with inflexibility. There is a difference between changing a course of action on the basis of developing conditions and just failing to be consistent. Whether the concern is personnel policies, combat decisions, or sticking to deadlines for the submission of a project, the ability to be decisive has a direct impact on how the leader is accepted.
Judgment Leaders exercise sound judgment. This is particularly important on those
occasions when you are out in front, taking the initiative. It is critical that a leader's decisions be based on all the available facts. It is important that rational and comprehensive thought be included in the decision-making process. Decisions boil down to a matter of judgment and sometimes the key to sound judgment is taking the time to duly consider the issue at hand. This approach is not at odds with being decisive. It is at odds with acting hastily.
Knowledge To lead others, you must know your business. Whether a platoon commander, an
instructor, or an administrator, a leader must have a degree of resident knowledge in his or her respective field. We who are leaders know that one of the keys to our effectiveness is staying current in our profession. We accomplish this through continual self-improvement. We read. We attend seminars and take courses. We listen. Knowledge is perishable, but the building of knowledge is also easy. Unlike bearing, decisiveness, or
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even enthusiasm, knowledge can be acquired equally by introverts and extroverts alike. All it takes is commitment.
Sense of Justice Sense of justice is an all-important trait. There are few quicker ways to lose a
following than to appear arbitrary, partial, or unfair. Standards are critical. Set them, articulate them, model them, and hold everyone to the same measure equally. Young people will respond. They are comfortable in an environment in which they know the boundaries. We all like to know what is expected of us, and the consequences of failing.
Remember, just as a muscle needs exercise to remain strong, so does a skill. There is no such thing as a natural born leader. People become leaders through experience and effort.
“At the end of the day, you bet on people, not on strategies”
- Larry Bossidy
6. Problems & Tips
Problems
Tough at the top - article by economist.com print edition, on 23rd Oct
2003 states the following;
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CORPORATE leaders are having a rotten time. Accounting scandals, lavish pay
increases and collapsing stockmarkets have conspired to turn the world against them.
They are regarded with cynicism and mistrust everywhere. In America, the bosses of big
companies command only slightly more respect in public-opinion polls than used-car
salesmen. Rebuilding lost trust will be slow work.
At the same time, leaders of large companies are increasingly in the public gaze. A
company's boss is now expected to take personal responsibility for its fortunes as never
before. This is reflected not just in new corporate-governance rules, but also in the way
that financial markets scrutinise the appointment of a new corporate boss and that
companies feel they have to defend executive pay packages.
Yet the task of a corporate leader has never been more demanding. This is partly because
of changing corporate structures. Big companies often operate in many countries or
product markets, and joint ventures, outsourcing and alliances add further complexity.
Layers of middle management have gone, so that more divisions report directly to the
person at the top. The pace of innovation is quicker, new technologies have to be applied
faster and product life-cycles have become shorter.
Corporate leaders are struggling to keep up momentum in their businesses when
economic activity is sluggish. They also need time to spend with the people they lead: for
more and more businesses, the abilities of a relatively small number of people are thought
to be the key to success, and retaining and developing their talents is vital. Swamped with
e-mails (which some of them answer themselves), voicemails and demands for
appearances on breakfast television and at grand dinners, many corporate leaders find it
harder and harder to make time to think.
In addition, for anyone in charge of a large quoted company, the level of outside scrutiny
—whether by government, consumer groups, the press or the financial markets—is far
beyond anything a corporate leader would have been subjected to in the past. For many
bosses, this sense of managing in a goldfish bowl has become particularly onerous.