Risk Taking and Leadership Perspective - Essay Example

Download file to see previous pages Risk-taking relates to confronting challenges and showing courage towards moving ahead of fear. Taking risks can be fruitful in most cases as you either succeed or you learn a lesson but at the same time, it is very important to calculate the amount of risk that you can afford to take. So this is a challenge for the leaders to identify the amount of risk they can afford (Hersey, 1977). It is very important for leaders to take care of stretching themselves but that is without pulling a muscle which means not putting themselves in a state where they have nothing to face but failures. Like for example if we talk about Cathy Spotts, general manager of a Fortune 500 company, she was the lady who always took 30 percent risk in her career and kept 70 percent of things on the safe side. This helped her build a successful career as she was risk-taking but only stretched herself till the time she dints pulled her muscle. She had the appropriate skill sets, had great self-confidence and possessed excellent leadership skills.
Question 2: Cultural Change and Leadership perspective
A successful cultural change primarily relates to a combination of participative and transformational leadership. In enterprises, it is the founders that form the company’s culture. This is done through a clear vision and a powerful motive. They search such people who are best fitted and have a desire to participate. In the case of entrepreneurs, the culture of the business is whatever suits them. The participative and transformational styles of leadership are mainly the ones that are suitable for getting a cultural change going for businesses that have been in competition for a long and possess a robust culture (Bass, 1994). It does not imply that the leader in the cultural change is not using power. They do use it but not autocratically. In such a leadership style power is used for articulating problems, indicating boundaries, breaking through barriers, changing players and making space for rejuvenation.
Question 3: Code of Ethics
Generally, the code of ethics is used in professional and business context to make sure that the public corporations and the members of regulated professions act in a professional and also socially acceptable manner. Organizations that have published and established code of ethics have review processes and procedures for appeals to safeguard against the spiteful or self-serving use of code for the benefits at the individual level. A Code of ethics is a set of rules based on behavior that employees of the company should follow for ensuring the values of the company in every deal it makes. Regardless of how big the business may be, evidently defined codes and directly monitored transactions ought to keep the company from violation of laws and making it such a place where all the employees are comfortable doing the right thing. Code of Ethics guides the behavior and are not just designed for bad people. They serve as a guideline for all the people who are in an unclear or difficult situation.
Question 4: Nash’s Ethical Decision Making Framework
There are a few things that have been identified by Nash that are very helpful in ethical decision making. In this framework, it has been suggested that it is extremely important to define the problem accurately. It is not just the identification of the problem that is important but also thinking empathetically is very significant before taking such a decision. Analyzing the situation occurring in the first place, defining the intention of your decision, the impact of the decision, participation and involvement of both the parties before making the decision, evaluating your confidence in that position, the symbolic potential of your decision and the room for an exception are all things that happen to be extremely important when it comes to ethical decision making.

 

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