Leadership

Create a hybrid theory/philosophy, which combines the common elements found in the thinking of Case, Kouzes, and Drucker. In your philosophy, be sure to include the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Case, Kouzes, and Drucker share the common philosophy on leadership by People, Passion and Perseverance. Case thought that the most important asset for any company is people. People will make or break your team and your company. Get the right people in the right seats: that can make a big difference. It can be the difference between success and failure for your venture. Hire people that have passion. Passionate people are infectious. They tend to energize a team. They care, but more than care, they are energized and engaged. To them it is not a job, it is a crusade. Starting a new venture or running a business takes effort. If you want to generate long-term results, you will have to persevere. You have to endure. Kouzes says that a leader can motivate others by aspiring to a shared vision. He also states leaders recognize individuals for their contributions to the company which shows how they are valued. Finally, he feels leaders should challenge the process by searching for opportunities to grow and improve. Drucker's theory is aligned with Case and Kouzes in that to be effective it requires concentration of effort on one goal. He thinks that a leader must possess an intense desire to succeed. These theories align with the entrepreneurial leader who is a transformational leader one who empowers the people. Describe what type of organization a transactional, transformational, and authentic leader would thrive in the most, as well as which type of leader would thrive the least. Explain your response using at least one (1) additional source. Two types of leadership are considered to have the greatest effect on organizations: transactional and transformational leadership. Political and government organizations operate under the transactional leadership. It suggests that leaders respond to lower level subordinate basic and security needs. Leaders and subordinates are viewed as bargaining agents where relative power regulates an exchange process as benefits are issued and received. There are two types of behavioral patterns used in transactional leadership: passive and active. The passive style is described as management by exception where employees do not receive notice for their positive contributions to the organization, but instead are paid attention by their manager only when an error or problem arises. Punishment or disciplinary action is often the medium used in this approach. Active transactional leadership uses contingent rewards. With this approach, employees are praised for their performance and may be eligible for pay increases or other incentives. Transformational leadership incorporates transactional leadership approaches, but moves beyond them. Here, the leader-subordinate influencing relationship is one where relative power is used to pursue organizational and personal goals. Even though there are three types of transformational leadership approaches only charisma/inspirational will be explored. Religious organizations would use the charisma/inspirational approaches; the leader demonstrates a high degree of popularity or celebrity status and is held in high esteem by peers, subordinates and superiors alike. Typically, the charismatic leader is also visionary, courageous, value-driven and serves as an agent of change within the organization. George (2006) wrote Authentic leaders know the true north of their moral compass and are prepared to stay the course despite challenges and disappointments. They are more concerned about serving others than they are about their own success or recognition; which is not to say that authentic leaders are perfect. Every leader has weaknesses, and all are subject to human frailties and mistakes. Yet by acknowledging failings and admitting error, they connect with people and empower them to take risks. Authentic leaders are recognized by five traits: 1. Pursuing their purpose with passion, 2. Practicing solid values, 3. Leading with their hearts as well as their heads, 4. Establishing connected relationships, and 5. Demonstrating self-discipline. Based on the above traits, authentic leaders would thrive the least in an organization because being very authentic may present particular challenges in today's highly competitive environments where, for example, proprietary knowledge needs to be closely guarded, or where news of impending layoffs needs to be managed in order to avoid losing key staff. (p.2) Evaluate the resources and tools available through the Small Business Administration and SCORE, and determine which single resource or tool is most useful to the greatest number of businesses. Explain your rationale. Businesses have a wealth of knowledge at their disposal using tools and resources available through the Small Business Administration and SCORE website. One of the most useful tools would be the workshop on developing your business plan. Your business plan allows you to see your business through your investor's eyes. It is a plan of your business; your communication tool; selling your marketing, sales and operations. Your business plan is a way to present your business concept so others can understand. It should focus on exactly what you want to achieve, where you want your business to go and how you plan to get it there. Projected sales and monthly expenses will also be included in your plan. All of this information will influence your choices, including the type of location you will be looking for. Your business plan will monitor whether you are achieving these objectives and maximize your chances of success by allowing you to keep adding to it. A business plan is the key to long term success for new and old businesses. Your business must have a foundation to start from and you have to give your business time as success will take longer than merely weeks. Your business plan will: Help clarify and research your businesses development and prospects. Provide a considered and logical framework which a business can develop and pursue business strategies throughout its life cycle. It serves as a basis for discussion with third parties such as shareholders, agencies, banks and investors. Functions as a benchmark for which actual performance can be measured and reviewed against. Mostly your business plan is a framework which your business must operate within. It will ultimately determine whether your business succeeds or fails. If seeking external support, the plan is the most important sales document that will likely be produced. It is the key to raising finance. Your employees, investors, and lenders will understand your vision if you have a well written plan that provides the basis for your financing proposal. Lack of planning is why over half of all new businesses fail in the first five years. Create a list of leadership best practices that would apply to the greatest number of businesses (both small and large). Be sure to explain your reasoning. Mentoring and coaching, team building, engagement, and accountability for results are a list of best practices. Mentoring and coaching would increase productivity in the workplace, increase team unity, decrease feelings of isolation, increase business and personal confidence, and ultimately increase profits, to name but a few of the benefits. Team building is important because it improves their group skills, communication and bonding. The success of most organizations depends on the ability of individuals to build effective teams. The main goal of team building is to improve productivity and motivation. Engagement is a key factor in any company's growth. Businesses with highly-engaged employees are less likely to suffer retention problems, avoid costly recruitment drives, and enjoy better morale. Accountability for results is more secure for employees when they know where the boundaries are. Accountability is crucial to the task of defining the boundaries and keeping the employees on track. This is the daily process of not letting things go and giving attention to the work being done. Small corrections and guiding using passive confrontation before things turn into problems is a key tool. Knowing the operation and seeing when something is off track makes for an involved manager and gets the issue corrected before it turns into disciplinary actions. The employees feel the manager cares about the job and the people doing the job.