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The Impact of Leadership Styles on the Effectiveness of an Organization - Assignment Example

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This paper "The Impact of Leadership Styles on the Effectiveness of an Organization" focuses on the fact that in 1952 the National Bank of Kuwait was incorporated. It was the first shareholding company and the first local bank in the Gulf region. It is the largest financial institution now. …
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The Impact of Leadership Styles on the Effectiveness of an Organization
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Download file to see previous pages The vision of the organization is to become the premier Arab bank, invest in people, to deliver the world’s best quality products to its customers, to deliver the maximum returns to its shareholders, and benefit all the communities in which their operations took place (Oxford Business Group, 2008, pp.103-104). The bank had faced a lot of challenges but the organizational culture of the bank helped it to maintain its market position. The culture of conservatism and prudence in the National Bank of Kuwait proved to be a key to the success of the organization. The bank has the largest branch network in the country and has total assets of $58 billion. Many foreign firms and blue chip companies having their business in Kuwait has the national bank of Kuwait as their partner (Espinoza, Fayad and Prasad, 2013, pp. 111-112). The organization operates in a region where the political, geopolitical and financial crisis is a very common factor but a prudent, conservative culture, careful stewardship, and risk management organizational culture helps the firm to overcome such risks. The founders of the bank were merchants who were basically rich. The leader’s themselves has value for money and has a prudent nature. They strive and work hard for earning this money. The bank even had opened its global operations across London, Singapore and New York in order to provide extensive service to the wealthy clients of the bank and capitalize on the surpluses produced by the oil wealth of Kuwait. The bank has over the time adopted a regionalization and diversification strategy (Wohlers, 1983, pp.54-55). In order to adopt such a strategy the bank has broken down silos between the line and support functions and has transformed into more of a group structure. Commonly the banks do not have a very fun working place. The work culture at NBK is unlike a common bank. NBK has proved to be a receptive place to work, with the help of the open door policy. The open door policy initiates open communication within the work environment of the bank.  ...Download file to see next pagesRead More
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