Managerial Leadership in Contemporary Business Strategy - Coursework Example

Managerial leadership: An intrinsic part of business strategy in the contemporary times Leadership is important because you are important. Effectivemanagerial leadership understands people’s aspirations and links it with the organizational goals and objectives. Introduction Leadership can be described as a compelling communication skill which motivates others to achieve a common goal. It assumes special meaning because it stimulates and encourages that target group within the organization to improve performance outcome. In the fast changing landscape of advancing technology and rapid globalization, the changing role of leadership within an organization has become more visible and highly relevant. Indeed, the managerial leadership initiatives have become key propellant of gaining effective leverage against business rivals in the contemporary environment of highly competitive business. Traditional managers vs. visionary managerial leadership Traditional role of managers was confined to the some defined constraints of organization’s administrative and managerial guidelines. Leadership, on the other hand, refers to people who have the capacity to bring about changes in other people. Leaders create dynamic visions and goals whereas the managers and administrators work towards achieving them. McShane (2003) defines a leader as a person who has vision, perseverance, and the capacity to inspire others. Visionary leadership foresees changes and knows the importance of people’s participation in the overall strategy of having collective goals. Managerial leadership thus, promotes stability through the integrated approach of the workers. Managerial leadership belief in proactive participation and collective goals Jack Welch, former CEO of General Electric, is famous for his extraordinary leadership and his innovative approach in the cutthroat business. He has strengthened the concept of value based leadership that encourages collective decision and mutual trust building to improve and improvise outcome (Welsh, 2005). The leadership within the organization is the major factor that judiciously exploits the personality traits of the workforce to maximize performance outcome. The workers along with their leaders are important part of the organization who work together to accomplish their organizations’ goals and objectives. The leadership recognizes the importance of people’s participation in the overall strategy of having collective goals through shared learning. Thus making it an intrinsic part of the work methodology which is characterized by the stability provided by the system and the integrated approach of the workers. Good managerial leadership demands a better informed leader Sjostrand and Tyrstrup (2001) assert that ‘we approach managerial leadership as a relational, ongoing social construction process rather than as a single clear cut phenomenon’. It is especially relevant in the context of multi cultural society where it has become imperative to learn to interact with each other without cross cultural and racial prejudice. A well developed leadership within the organization facilitates integration of diverse ideologies and personal conflicts. The leaders provide an intangible stability within the organization that comprises of people coming from cross cultural value systems and facilitate their integration with the system. Thus, good managerial leadership is capable of taking initiative and at the same time inculcate confidence in the people to move forward. Managerial leadership is flexible and labor friendly The traditional theories of management leadership were rigid in their perceptions and believed in imposing rules and regulation without taking into consideration the factors of human failings and human emotions. Today, the fast changing equation of business compulsion make it necessary for managerial leadership to facilitate more accommodating approach to the changing dynamics of the organizational culture and management. Flexible approach to managerial leadership that is more labor friendly needs to be adopted. McGregor (1960) emphasizes that effectiveness of organizations could be at least doubled if managers could discover how to tap into the unrealized potential present in their workforces. His Strategy is highly relevant in the contemporary times when the changing dynamics of business compulsions require better understanding of human nature. Managerial leadership empowers workforce CEO of Citigroup, Prince, is yet another dynamic leader of the corporate world (Paine, 2008). When Prince took over the stewardship of Citigroup, it was under huge pressure from the Federal Regulation Authority and had massive demoralizing repercussions from the event of Japan and MTS. Under his leadership, he created visions and goals and inspired the workforce to work towards achieving them. By introducing unique Citigroup culture of shared responsibility and improving communication. Change is indispensable part of life. The leaders use effective communication to disseminate information about the need to evolve and embrace change and encourage participatory approach to resolve conflicts. The different contextual factors vis-à-vis size, technology, environment, diversification and globalization constitute vital elements that have significant impact on the managerial decision making. They also encourage joint goals and objectives that are mutually beneficial and thereby, foster mutual trust and better understanding of each others value system. It facilitates easy adaptability to changing equations thereby, empowering the workforce and the leaders to recognize the wide scope of emerging opportunities. Hence, it becomes one of the most important elements of success in the increasingly changing environment of global competitiveness. One of the most important aspects of effective leadership is that it challenges the processes and thereby helps to evolve new paradigms that suit the changing dynamics of business. The motivating factor of leadership facilitates adaptability to changing equations, which occur due to rapidly changing environment of emerging new patterns in various organizational processes. When organization is in the process of adopting newer technology, the workforce experiences insecurity and become unsure about their ability to successfully adapt the changes in their work practice. As a result of their irrational fear, they fight against any change to defend their position. Good leadership ensures decisions made on informed choices that enhance self confidence and acceptability to change. Encourages ethics and moral accountability within one’s action Ethics and leadership are intrinsically linked. Ethics can be defined as value based conduct that is needed to lead a worthy life and ensures accountability to one’s actions. In the fast changing social dynamics and deteriorating values, ethical considerations become highly relevant. The world is moving towards multi-cultural societies, hi-tech gadgets and lifestyle that are contributing towards non accountability of actions, environment degradation and fast depletion of natural resources. Need for accountability and understanding of cross cultural value system must be promoted within and outside the society so that resolution of moral and ethical dilemma becomes easier. An informed leadership encourages ethics and moral accountability within one’s action and help incorporate better sense of social accountability and work for sustainable development. Bill Gate’s ideal leadership has significantly impacted the business world. Bill Gates is one of those leaders who have set the example of outstanding leadership through his commitment to work and his beliefs (Gates, 1996). He has shown that disciplined work is the key to the success of his vision and mission. With focused approach and under his able leadership, Microsoft has today become a market leader in providing exclusive operating systems for personal computers, software solutions and services for business and individuals. The last but not the least is the fact his personal commitment towards social causes has also strongly influenced the company’s mission which takes its corporate social responsibilities with utmost seriousness. Conclusion One can, therefore, conclude that the compulsions of global competitive business environment is having an effective managerial leadership that encourages innovative business strategies and creative practices to meet the challenges of fast changing socio-economic changes of society. Eminent social scientist, Frances Hesselbein assures that ‘leadership is a matter of how to be, not how to do’ (No. 41, 2006) which makes it possible for the leaders to flexible and motivate through self example. Hence effective leaders are versatile and are adept at exploiting the potential of their followers or workers as per the demands of the situation. Speaking plan 1. Audience analysis Some of the audience might not be interested in the topic as they might not be aware of wide ranging implications of managerial leadership, especially their significant impact on the performance outcome of the organization. The speech would be focusing on the myriad ways the managerial leadership enhances business performance and becomes a vital imperative for competitive advantage in the contemporary environment of cutthroat business. 2. Speakers analysis The major obstacle in preparing the presentation has been to get convincing sources to use within it. To overcome this issue, I have surfed libraries and internet sources. 3. Attention getter It is envisaged that the opening sentence would grab their attention. Leadership is important because you are important. Effective managerial leadership understands people’s aspirations and links it with the organizational goals and objective. 4. Common ground Leadership is intrinsically linked to human behavior. 5. Credibility Will quote eminent social scientists and give examples of great leaders of the business world. 6. Thesis The managerial leadership initiatives have become major propellant of gaining effective leverage against business rivals in the contemporary environment of highly competitive business. 7. Main points 1. Leaders create visions and goals. 2. Leadership has recognized the importance of people’s participation in the overall strategy of having collective goals through shared learning. 3. Good managerial leadership demands a better informed leader. 4. Managerial leadership is flexible and labor friendly. 5. It empowers the workforce and ensures decisions made on informed choices that enhance self confidence. 6. An informed leadership encourages ethics and moral accountability within one’s action. 8. Memorable statement ‘Leadership is a matter of how to be, not how to do’. Reference Gates, Bill. (1996). The Road Ahead. Penguin Books. Hesselbein. Frances. (2006). Moving Peter Drucker’s Works and Wisdom Around the World. Leader to Leader Journal, No. 41, Summer 2006. Retrieved from: McGregor, Douglas.(1960). The Human Side of Enterprise. McGraw-Hill. McShane. (2003). Leadership and Management. Study guide. Paine, Lynn Sharp., Knocp, Carin Isabel and Sesia, Aldo Jr. (August 2008). Leading Citigroup. Harvard Business School. Sjostrand, S and Tyrstrup, M. 2001. ‘Recognized and unrecognized managerial leadership’, in invisible management – The social construction of leadership. S Sjostrand, J Sandberg and M Tyrstrup (eds.). Thomson. pp 1-27. Welch, Jack & Welch, Suzy.(2005). Winning. HarperCollins Publishers. NY. Read More