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Leadership organization in the new economy - Essay Example

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Creating a high performance workforce has become increasingly important and it has forced organizational leaders go beyond their task requirements…
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Leadership organization in the new economy
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Download file to see previous pages The most widespread leadership theories include trait theory, behavioral theory, contingency theory, and transactional and transformational theories. Trait Theory: This theory assumes that people inherit certain qualities and traits that make them better suited to becoming leaders. The trait theory identifies the particular personalities that great leaders possess. According to this theory, for someone to become an effective leader, he or she must possess six core traits: ambitious, willing to take charge, possess high levels of integrity, self-confidence, intelligent, and have technical expertise. For a person to be an effective leader, he or she has to possess a majority of these characteristics. Therefore, executives must identify the quality of leaders required for a specific task so that they can be able to come up with a personal style that works for them. Behavioral Theory: This theory is based on the notion that leaders are made and are not born. According to this theory, people can become leaders through learning or observation. Studies by the University of Michigan concluded that leaders possess two groups of behaviors: a job-centered style and an employee-centered leadership style. Employee-centered leaders focus their behavior on satisfying the inners needs of their employees, whereas the job-centered style is more concerned with organizational structure. Therefore, organizations that are interested in building relationships with their employees should consider engaging in an employee-centered leadership style. Path-Goal Theory: This theory argues that effective leadership depends on the degree to which a leader can enhance the performance expectancies of his or her subordinates. Leaders should assign tasks to individuals that they have high valences in. In order for employees to work towards organizational goals, it is important for an effective leader to support their efforts through training, encouragement, and technical support. Managers should know what their employees’ strengths are. Transactional Leadership Theory: This theory is based on the relationship between subordinates and leaders, and is aimed at achieving routine performance goals. It assumes that subordinates are not self-motivated and have to be closely monitored and controlled to get work completed. This involves the exchange of rewards and a promise of rewards for specific performance levels. This leadership style often responds to the interests of subordinates only when they are performing satisfactorily. Transactional leaders, therefore, are quite effective in guiding efficient decisions that are aimed at minimizing costs and increasing productivity. Transformational Leadership Theory: Transformational leaders display charisma and motivate their followers by helping them grow continuously. Also, these types of leaders often place their team’s interests before their own. Organizations that are concerned with pushing their subordinates to problem solve should hire such leaders. These leaders are visionary, inspiring, daring, and critical thinkers. Their leadership style often exhibits the following factors: inspirational motivation, idealized influence, intellectual simulation, and individualized consideration. Followers of such a leadership style demonstrate high levels of job satisfaction and organizational commitment. Therefore, organizations should consider making efforts towards transforming their leadership style. ORGANIZATIONAL DIVERSITY Efforts to increase diversity in corporate America have backfired. It is clear that a more diverse workforce increases organizational morale, brings greater access to new markets, and enhances productivity. Instead, a majority of companies have hired women only to leave them frustrated or stuck in ...Download file to see next pagesRead More
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