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Leadership Skills and Innovation - Essay Example

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The paper "Leadership Skills and Innovation" is a good example of a finance and accounting essay. An innovative leader continuously generates and applies new ideas that assist him in achieving real-life results. Innovativeness involves effortlessly unleashing hidden potentials from the leaders and their followers. Innovative leaders usually take mass action plans towards fulfilling their dreams…
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Extract of sample "Leadership Skills and Innovation"

Running Header: Leadership Skills Student’s Name: Instructor’s Name: Course Code: Date of Submission: Leadership Skills Innovative/Creative An innovative leader continuously generates and applies new ideas that assist him in achieving real-life results. Innovativeness involves effortlessly unleashing of hidden potentials from the leaders and their followers. Innovative leaders usually take mass action plans towards fulfilling their dreams. They encourage their followers to input into the organizations through innovations. Innovation has been for a long time been used to describe as a process of invention or coming up or construct something by original thoughts. However, it is important to note that not all inventive capabilities can lead to innovation. Jerry Levin who is founder of AOL and Bill Gates are leaders who have moved the globe and their companies a lot of miles ahead due to their innovative ideas (Stephen, 2005). Leaders leads their companies to innovation by ensuring they maintain cultures that support innovation, rewarding their innovations, by attracting employees who are creative and turning the ideas into consumer products that are marketable. Companies like Microsoft, Sony, GE, Apple, and 3M have become successful due to innovative aspects of their leaders. Southwest Airlines is one of the organizations that have greatly encouraged innovation and creativity from its managers and other employees. Herb Kelleher who was a former CEO had innovative skills and he believed that innovative employees are the main pillars of success of the company. He believed that innovation was one of several factors that would have enabled Southwest Airlines improve its effectiveness. In 1990s, Southwest Airlines was selected twice by Fortune as one of the best companies to work in United States (Stephen, 2005). This is due to its encouraged creativity and innovation that lead to its effectiveness in its operations. Innovation leads to new products within the market such as The Diners’ Club Card. This was innovated in 1950 by Macnamara when he went to dine in a Manhattan Restaurant with some clients including Alfred Bloomingdale. They realized that they had no enough money to pay for their bill. After a while, they came up with the idea of restaurant charge accounts network and a third-party credit organization for individuals dining out in Manhattan. The new credit card was referred to as The Diners’ Club Card (Stephen, 2005). This is the innovative idea that leaders should have in the processes of solving underlying problems or issues within their organizations or society. Innovation is a major aspect that every organization leader requires to embrace towards driving their organizations ahead of others. Therefore, managers who take into consideration the importance of innovation play a great role towards the success of their organizations. It is important for the business leaders and companies to embrace radical innovations as a step towards prosperity. Business leaders should understand the need for innovation as the only tool for creating change. It is also a tool for assisting companies to respond to changes in a more quick way. Business leaders need to develop innovative aspects in order to identify new opportunities before the competition overtakes them. It is through innovations that business leaders are able to see new and emerging worlds in the future (Stephen, 2005). Therefore, there is need for them to have and posse’s innovative skills and knowledge. Understanding innovation within the company enables the managers understand the crucial resources and aspects that can be put in place to ensure it is encouraged among the organization staffs. The business leaders should know that the fast changing world requires organizations and leaders who are capable of keeping in face with competition and preventing the reduction of market share by competitors. This can be achieved through continuous innovations by the leaders. Visionary/forward-looking Visionary leadership involves bringing into something new through bringing together the bodies of knowledge that are already existing. Visions’ power acts as busters that move large groups of people as well as companies from the present to future. It needs imaginative ability to new or different future in combination with adaptability, creativity, and making brave actions even when followers are uncertain or full of doubt. Richard Branson who is the business leader of Virgin Company has brought in something new from what existed. In 1960, he made his initial major breakthrough by combining existing record selling business with mail order delivery and utilized fully the new mass marketing techniques which later emerged in 1960s (Stephen, 2005). Visionary leaders also possess great self-belief. This can be illustrated with a 17th century story of Sir Christopher Wren who was a great architect. He was appointed by Charles II after the London’s Great Fire in 1666 in order to oversee rebuilding of the city destroyed by fire. The financial sponsors of one of the projects thought that the main span put by Wren on the plans within architectural was very wide. They told Wren that he would require extra columns to support it. After a heated argument and taking into consideration those other contracts were depending on his decision, Wren agreed and added extra columns as he was instructed. Nonetheless, he deliberately left a gap that was small between the span and extra columns although it could not be viewed from the ground level. Up to date, the span has not sagged even for an inch while the columns supports nothing more that the conviction by Wren that he was right 300years ago. According to research carried out in various continents, forward looking leaders is mostly preffered leader by many people. 71percent of people prefers forward-looking leaders according to 2007 statistics (Kouzes & Posner, 2007, p. 30). In Australia, 83percent preferred a forward-looking leader while 88percent of those interviewed in Canada preferring a forward-looking leader as well. It is vital for the business leaders to understand and comprehend the need for visionary knowledge as a way of planning and placing their organizations in future. Visionary skills of leadership are crucial for business leaders towards ensuring they put in place appropriate strategies and plans for future for their organizations. Visionary as a leadership skill is crucial for managers to understand especially when they are interested in long term and practical applications that may solve various challenges that their organizations may face in future. This is mainly due to likely changes that may occur within the business environment. Business leaders should also understand that long-term thinking is the major step towards theorising on various alternatives to the likely future challenges that the company may face. Companies with visionary leaders form a good basis for their long-term financial and success (Kouzes & Posner, 2007). It is vital for the organization and even the leaders because the current visionary skills are the capability of the company’s future capability. Understanding the sense of direction and future enables a leader to move his organization forward. Having a clear understanding of what the future of business holds gives him power and capability to mobilise his employees. A visionary skill is crucial in that it enables the leaders to spot new opportunities for business or organizations including the new markets and competitors likely to threaten their company. This assists companies or business in lying down strategies that are necessary in ensuring they overcome those challenges or utilize the opportunities fully. Inspirational This involves a leader communicating the visions in such a way that people are encouraged to sign on for the duration as well as excite them concerning the cause. It encompasses the energy, enthusiasm, and positive attitude of the leader towards making the context more meaningful. It also involves leaders breathing life into dreams and aspirations of people which make them become much more willing to join in the company productivity (Kouzes & Posner, 2007). They are many leaders around the world who have inspired their followers in the society and their organizations towards success. Arie de Geus is one of such leaders who have inspired his followers leading to a successful organization-Royal Dutch Shell. According to Arie, focusing a lot on profits only cannot be able to survive for a long time. However, Arie emphasized on the need to inspire the workers as part of its focus of development other than taking into consideration the profits only (Stephen, 2005). Arie found that organizations that focused mainly on short-term financial and economic management goals have invariably less shelf life as compared to the companies that took into consideration systematic evolution, learning and inspiration of its employees. Some organizations have realized that building a reputation and talents through inspiring employees and others outweigh the costs. According to Hewitt’s Global Practice leader, inspiring people enables the company become a talents magnet where graduates are attracted and eventually makes the organizations become successful. Some companies have gone to an extent of developing their own universities where they are able to directly inspire young people through their successful leaders and managers. Such include Toyota that established Toyota Institute in 2003. This is in an effort to run in-house leadership programs of development. Jack Welch is an inspirational leader whose development programs at GE inspired Heinrich von Pierer. Heinrich Von Pierer a former CEO at Siemens established an education center in an effort to develop and inspire the managers and leaders immediately after taking over the company in 1992. Von Pierer and his team of senior management were involved in these inspiring and leadership development programs (Stephen, 2005). Many companies and their managers believe that inspiration plays a great role towards the success of their followers. According to research carried out, 69percent of those interviewed in 2007 said that they would prefer inspirational reader. This was third position after forward looking and honest type of leadership (Kouzes & Posner, 2007). It is important for the leaders to understand the major aspects behind the inspirational of their followers as a way of ensuring their spirit are uplifted. Leaders should uplift the spirits of their followers and give them hope to engage in challenging pursuits voluntarily. Business Leaders must understand that excitement and enthusiasm are necessary and signals the personal commitment of leader towards pursuing their dreams. They should know that being positive, optimistic, and upbeat about the future gives people hope and energy to achieve their set goals. Business leaders and managers should know that during great times of uncertainty, followers or employees should be lead with emotions that are positive are crucial towards moving people forward and upward. Understanding the inspiration is a significant aspect especially for the people who are discouraged, worried, frightened, and even uncertain of their future (Stephen, 2005). One of the great thing that a leaders can do is to inspire them and give them hope, confidence and strength to move on. Therefore, it is such a great thing that the leaders need to understand as a part to make their followers successful. Managers should understand that extra-ordinary things can be done in extra ordinary times if the leaders inspire optimal performance of their employees and con only be motivated with positive emotions. Supportive Supportive leadership involves listening to the followers and assisting them in case they require help. It involves taking into consideration the follower’s needs while showing concern for their welfare and creating a working environment that is friendly. It also entails increasing the self-esteem of followers as well as making the job more interesting (Kouzes & Posner, 2007). Supportive relationships during the work are usually characterized by real belief in and even advocating for other people’s interest. Supportiveness can be illustrated by Bob Branchi who was managing director largest network of automobile dealerships of Western Australia. He imparted a supportive aspect into a delivery driver in a celebration at one of the part supply facility. He noticed the driver when he was mingling with those applauding their recent achievements. He driver felt that he was just a mere parts delivery driver who has not made any real contribution to the company. However, Bob keenly supported the driver by informing him that every person makes an important contribution to the company (Kouzes & Posner, 2007). Bob supported his work he does by informing him that it plays a great role towards success of the organization. It is through this kind of social support that the productivity is enhanced among the employees. Business leaders and managers should know that being supportive is critically crucial towards maintaining organizational and personal vitality. Being supportive plays a crucial role in boosting enthusiasm as well as increase performance. Leaders should understand that shortfalls in service-performance are highly related to lack of social support as well as teamwork. It is crucial for leaders to understand that being supportive enables acts as an antidote to service burnout. It is crucial for leaders to understand that social support usually enhances the psychological well-being, productivity and even physical health of the workers. Supportive leaders should ensure they put in place all the aspects of support and not only one aspect. They should ensure that they provide financial, social and psychological support among others irrespective of gender or ethnicity. Leaders should understand that support also comes around when people are encourage to work in teams or groups in ensuring that enough courage is build even during the time of stresses. Motivational Motivation entails influencing and increasing the desire and commitment of various individuals towards achieving organizational and personal goals. High levels of motivation are always desirable at all the points by both the leaders and individual employees. Motivation is significantly related to productivity and performance levels of the staff. Lack of motivation is known to lead to underperforming, unhappy, and indecisive workforce. According to Maslow who came up with the hierarchy needs, humans are usually motivated by the desire to satisfy their needs that ranges from psychological, safety, social, esteem and self-actualization needs. Motivation is such s great aspect in the performance and working of the organization such that several other theorists have tried to develop various theories in trying to define and analyze various levels and factors revolving around motivation. Such include Herzberg, McClelland, and Alderfer. Peter Cullum who is a founder of Towergate the largest independently owned insurance intermediary organization in Europe, believes that employees have to be motivated, rewarded, and stimulated (Stephen, 2005). Peter Reith, the former Australian Federal Industry Secretary launched a campaign in July 1999. This was for promoting the share ownership where he argued that financial interest within the companies can be effective towards increasing commitment and motivation. Jack Shiefer who was at one point a branch manager of AT&T believes that raising motivation levels was a crucial aspect towards setting his team to grow and drive business forwards even in the most challenging times within the telecommunication industry (Stephen, 2005). Business Leaders should understand various aspects revolving around motivation. They should also understand the ways by which their workers feel motivated. This is because workers are motivated by varying types of motivations ranging from physiological needs, social and financial needs. They should provide their employees with appropriate rewards as well as positive feedbacks for the jobs that they do well and satisfactory. Understanding motivation is a crucial aspect as it significantly contributes towards achievement of goals and higher performance. Business leaders should understand that incentives and financial rewards are both crucial and necessary; however, they are usually rated as second in the motivators’ rankings. This is because it is short-term or has a temporary effect on the workers (Stephen, 2005). Therefore, business leaders require knowing all the other types of motivations that can be utilized or employed as a way of improving or enhancing the performance of their employees. Leaders should know that only those people who are intrinsically motivated by their work gives 100percent. Employees who are motivated through money cannot contribute more than the amount necessary to get a financial reward. Understanding the aspects that motivates workers is a major step as they are main determinants of the company’s success. This will enable managers to undertake appropriate measures or steps in ensuring they are able to satisfy the employees and subsequently motivate them accordingly. Developing and Enhancing Skills Innovative/Creative Innovation is an aspect that every organization depends upon in ensuring their survival in the competitive markets. Therefore, i feel the need to enhance and improve the innovative skills in the next 4-5years. This is towards ensuring i become more productive as well as be capable of utilizing any rising chances within the business environment. It is through creating environments that encourages and recognizes the efforts made by individuals that i can be able to improve the level of innovations within an organization. It is through listening and paying more attention to clients, customers, people in the labs, working people, and people in the fore front of entrepreneurship that i will be able to develop and improve my innovative skills. In order to be able to develop and improve the innovative skills within the next 4-5years to come, i will look more on the outside side of myself and the organization towards ensuring i get more and new ideas concerning processes, services, and products ideas. It is through experimentation, recognition of goods ideas, supporting the ideas, and even taking the risk and willingness of challenging the innovative system that i will be able to improve my skills and knowledge on the innovations in the next few years to come (Stephen, 2005). It is through taking risks and becoming flexible in terms of change that i will be able to have high potential for innovative skills. Innovation skills are also achieved and enhanced through undergoing various incremental risks as well as experimentation failures. It is through accepting mistakes occurring and amending them that one is able to improve the innovative skills. Working as a team is can be a major breakthrough towards improving the innovative skills. This is because people working together are able to come up with great ideas through combining their small ideas. Therefore, i will put a lot of efforts in mobilizing team work as an initiative towards major innovation in the future. It is through the teams that people are able to create solutions and share knowledge to various problems that they are facing hence promoting innovation in the long run. Brainstorming will be a major strategy in my efforts towards improving my innovative skills. This is because brainstorming forms a major part of coming up with new ideas and breakthrough thinking. It is through taking more attention to those who innovate within the organization that the process and aspects of innovations is taken to a higher level. People who come up with new innovative ideas should be rewarded greatly in an effort to enhance and improve the innovative levels within the organization. This can be achieved through encouraging them to search for any rising opportunity towards doing extra ordinary things. It is through trusting my efforts and increasing the trust on employees and colleagues that i will be able to increase the innovative efforts. This is because the more trusted the people feel, the better they become innovative. Visionary/forward-looking As a leader, there is need to have visionary skills in ensuring that one is able to look forward and have a sense of direction to where the business or organization is heading. It is through developing a concern for the future of the organization and my leadership skills that i will be able develop visionary or forward looking skills. It is through laying down achievable strategies and goals that i will be able to attain these skills in the coming years. Having a vision and dreaming of the future while setting personal goals is a critical factor towards improving my visionary skills and forward-looking skills. It is through connecting the dreams and hopes with the current realities that visionary and forward-looking skills can be attained. In enhancing the visionary skills in future, i will purposely imagine of the appropriate position that i would like to be in future in terms of the skills as well as the performance of the organization. Discovering a desirable destination in future for the organization and my skills will model and shape my skills presently for the sake of coming years (Kouzes & Posner, 2007. It is through developing and putting in place a well-defined orientation to the future that visionary skills will be attained with time. It is through developing the desire to achieve more that i will be able improve and enhance the visionary skills in future. Having a desire and argue to achieve a certain objective and a lot more will create a good basis for visionary skills within the life in both short run and long run. It is important to develop a strong belief of achievement as a way of strengthening the visionary skills and be able improve it in future. Having high expectation and confidence will also assist in developing my visionary skills without losing hope at any point. In the organization, visionary will be enhanced and improved through encouraging people on the need to set objectives and achievable strategic goals all the time. This will a way whereby a visionary skills will not only be improved to the leader but to the employees or followers as well in future. Motivational Motivation is one of the major drivers for organizations increased performance and productivity. Therefore, developing motivational skills as a leader will play a crucial role towards encouraging the employees towards improving their levels of productivity. Therefore, in developing motivational skills as part of my leadership, i will have to learn all the aspects that surround the motivation in order to have a better view of motivation. This will play a key role towards developing capability of analyzing what different people require and give first priority in embracing the motivation in their organization. It is through understanding diversified types of needs of various workers that i will be able to develop motivational skills as part of my leadership in the next 4-5 years to come. Understanding what entails various motivational theories will also play a great role towards improving my skills. It is also crucial to have a clear knowledge that enables a leader to be able to understand the situation the workers are in so as to be able to know the types of motivations or related motivations that they require. Therefore, it is through understanding and getting clear knowledge of people and their psychological changes that i will be able to improve and enhance my motivational skills (Stephen, 2005). It is through knowing how the needs and requirements of various employees that i will be able to develop and enhance my motivational skills currently and in future. It is through putting into practice the theoretical ideas and theories behind motivation that will assist me towards being in a better position currently and even in future. I will train myself on various ways by which i can be able to motivate followers and through continuous experience, i will be able to develop skills necessary towards motivating people. I will also train myself on how to develop a working environment that always motivates people to do anything. It is through practising on how to support and encourage other people that the motivating skills will develop within me as a way ensuring am capable of having required knowledge and skills as a motivator in the few years to come. References Kouzes, J. M. & Posner B. Z. (2007). The Leadership Challenge, (4th Edition). John Wiley & Sons, Inc. Stephen, F. N. (2005). Maximum Performance: A practical guide to leading and managing people at work, (2nd Edition). Kansas: Edwards Elgar. Read More
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