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

The Impact of Leadership Styles on the Effectiveness of an Organization Contents Leader Profile 3 References 7 Organization Profile In 1952 the National Bank of Kuwait was incorporated. It was the first shareholding company and the first local bank in the Gulf region and Kuwait. In today’s scenario the National Bank of Kuwait is the largest financial institution. The bank has an effective dominant power over the entire commercial bank market, and has added up to almost 105 branches worldwide. The organization does not only focus on the current profit but aims at delivering financial solutions and personalized services for the current generation and even the future generations. 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 taken 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 for 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 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. The organization is very passionate about the task they perform which motivates the employees to outperform their task, and grow in the professional as well as personal field (Hakimian and Nugent, 2005, pp. 67-69). The National Bank of Kuwait is 50th safest bank in the world. The organization believes that the motivation is the key element when it comes to give the extra push to the employees to work harder and enhance their work experience. In order to constantly keep the employees motivated the company offers convenient on-site facilities and flexible packages. The company offers training and development courses for the employees for developing strategic financial solutions, leadership qualities and customer service (Usa, 2007, pp.213-214). The employees enhance their skills and it benefits them for further career development. NBK do not follow the approach of all work and no play but focuses to strike a balance between the professional and personal goal of the employees. After completing my graduation in finance I have always desired for entering into the banking sector. This sector ensures a secured career growth with a desirable pay package. NBK is the top most banks in Kuwait which has shown growth in the past years. As the company is passionate towards their operations it will help me enhance my skills and provide me an opportunity to apply my financial skills and perform well in the organization (Usa, 2007, pp.154-155). I have a passion towards my work and would like to work in an organization where my career would seek a growth and development. As a fresher I would like to work in an organization where my future is secured, I get motivated and my efforts are recognized, and I get a platform where I could develop more of leadership qualities (Wheeler, 2007, pp.55-56). The National Bank of Kuwait is an organization which through their democratic leadership style would give me a platform to share my innovative ideas; the company even enhances the skills possessed by the employees and develops the required skills. Thus I feel that my values and attributes match with that of NBK and has a high organization fit. Hence it is my dream organization where I would be applying in order to build my career in the financial/banking sector. Leader Profile Ibrahim Dabdoub since 1983 is the chief executive officer of the National Bank of Kuwait. In 1961 he had joined the organization and has a seen career growth from credit head to deputy chief executive officer to CEO and then group CEO. He had completed his studies from Stanford University in California. In 1995 he was awarded ‘banker of the year’ by Arab Bankers Association of North America. In 2005 he even received an award from Euro money for outstanding contribution in development of financial services. This leader has not seen success initially while joining the organization. Though he possessed various innovative skills but was not getting the opportunity to exploit such skills. The leadership quality was already possessed by Ibrahim Dabdoub. Throughout his career he had seen various ups and down, at the starting stage of his career he was just a credit head. His innovative ideas were not taken seriously by the board members of the bank at the initial stage of his career. It was his idea to start of further operations in London, New York and Singapore in order to give better services to the wealthy bank members. The idea when implemented gave a strong competitive edge to the bank. He has always attempted for delivering the best skills to its employees. He believes that a person could only achieve something in life when he strikes a balance between his personal and professional life (Iqbal, 2011, pp.23-24). He possesses qualities of self motivation, patience, high confidence level, and thinking differently compared to others. His thinking out of the box aspect has been the key factor in his career success. He has never stopped or remained stagnant at his workplace he always had the desire of earning more. He had a passion towards his work and the awards and recognition that he achieved is a proof for that passion that he possessed. He even faced the darker phase of life when he was de-motivated by his superior and his innovative ideas were not given at all importance but that did not stop Ibrahim Dabdoub to avoid his innovative thoughts. He used to analyze well the crisis times faced by the bank and then develop a solution to overcome the crisis. It was his contribution that the National Bank of Kuwait should globalize to extend its operations. This idea gave a new turn to the bank and made it competitively advantageous compared to all the other regional banks. He has set a remarkable example by being a democratic leader and contributing outstanding financial solutions. Even the open policy system of the bank was initiated by him where he encouraged involvement of all the employees in order to share their innovative ideas which would prove beneficial for the bank. I personally feel that Ibrahim Dabdoub is a leadership icon for the young generation. The motivation and passion he had towards his work has set an example in the leadership world (Bonnici, 2011, pp.67-69). I am very much inspired by the qualities he possessed and this inspiration would make me dedicated towards my work. His qualities has helped me realized that we will only get 100% success in our career path when we totally dedicate ourselves towards the work we perform. In my career planning I would now focus not only on monetary terms but also on the opportunity the job offers me where my skills could be enhanced (Mehrotra, 2005,pp.93-94). He has always developed innovative ideas which made me rethink on the fact that in today’s competitive world it is necessary to have innovative skills that would benefit the organization and even individually. I will plan my career in a way that I could contribute the maximum to the organization I work in, though I need to start off my career at a low grade in the initial stage but I would achieve success later in the organization through my hard work, dedication, passion and innovative skills. The inspiration behind mine this kind of career planning was Ibrahim Dabdoub. The way he has succeeded in his career has inspired me a lot and made me believe that if there is interest towards the work we perform then we are bound to achieve success sooner or later. Whichever organization I join but I would surely have full passion towards my job and benefit the maximum to the organization I would be a part of. References Bonnici, C. A. 2011. Creating a Successful Leadership Style: Principles of Personal Strategic Planning. USA: R&L Education. Espinoza, R. A., Fayad, G., Prasad, A. 2013. The Macroeconomics of the Arab States of the Gulf. Great Britain: International Monetary Fund. Hakimian, H., Nugent, J. B. 2005. Trade Policy and Economic Integration in the Middle East. Great Britain: Psychology Press. Iqbal, T. 2011. The Impact of Leadership Styles on Organizational Effectiveness. Germany: GRIN Verlag. Mehrotra, A. 2005. Leadership Styles Of Principals. New Delhi: Mittal Publications. Oxford Business Group, 2008. The Report: Kuwait.UK: Oxford Business Group. Usa, I. 2007. Kuwait Banking & Financial Market Handbook. USA: Int'l Business Publications. Usa, I. 2007. Kuwait Investment and Business Guide. USA: Int'l Business Publications. Wheeler, D. L. 2007. The Internet In The Middle East: Global Expectations And Local Imaginations In Kuwait. USA: SUNY Press. Wohlers, T. S. 1983. Arab and Islamic Banks: New Business Partners for Developing Countries. France: OECD Publishing. Read More