Leadership in the Aftermath of the Financial Crisis - Magna Housing Association - Research Proposal Example

Electronic AGC FORM (PROPOSAL) Version release date: 1/10/2010 SECTION 1: STUDENT TO COMPLETE NAME: Stephanie Lloyd-Foxe I.D. No: 039012757 ENROLMENT/START DATE (mm/yy): PROGRAMME: MBA D/L MODULE: THE PROPOSAL DATE SUBMITTED LOCAL RESOURCE CENTRE 01.08.11 STUDENT DECLARATION: In submitting work to the University you are agreeing to the following statement: “I declare that this assignment is my own work, that all sources of reference are acknowledged in full and that it has not been submitted for any other course“. SECTION 2: TUTOR’S COMMENTS Ability to construct a project with clear, coherent and well defended research questions/ objectives The number of different potential emphases in this research project and it is not entirely clear whether you appreciate the implications of these themes as you move from one to the other throughout. Firstly there is an interest in how the working experience of the organisational members has changed due to the recession. Secondly there is interest in differing leadership styles during this period. Thirdly there is consideration how leadership practices should respond to these pressures. Discussion of the relation between your proposed research and previous research I get the impression that you're displaying material in this section rather than discussing its relationship to your proposed research. For example you introduce social exchange theory. Why? What is the relevance to your research? Do you propose to draw upon this perspective in some way? Discussion and justification of proposed methods It is in the methodology that some of the differing perspectives in the research objectives are shown up. So you say “I intend to use questionnaires in order to evaluate their opinion of the leadership style of the managers, how high their motivation levels are performance assessments, etc. An assessment of performance reviews will be crucial.” This is a pretty unclear and vague sentence to put in a research proposal. Overall Comments: There is potential in examining the role of leadership in a recessionary environment in which greater pressures are placed on staff. Moreover understanding these pressures is an interesting area also. However I'm not particularly clear how/whether these different aspects fit together coherently. Both literature and methodology are not that helpful in indicating that you have decided on a clear path for your dissertation. Second Marker Additional Comments (Optional): Grade agreed. SWT. 12-8-2011. D. 45 %. Tutor marking this assignment Date of marking Mark Awarded (%) Grade Awarded W. Smith 11/8/11 45 D School of Management Dissertation Proposal Pro-Forma Version 1.4 (October 2010) Instructions: This document consists of the Proposal Template. Students are required to complete the Proposal Template when constructing and submitting their Proposal. Before you submit this Proposal please make sure that you have completed all of the following steps: 1. Read the latest Dissertation Guidelines on Blackboard. 2. Read and considered the Support materials and additional notes on Blackboard. 3. Discussed your ideas with a Dissertation Tutor via Blackboard or the workshops. 4. Completed the online School of Management Research Ethics Form which is located in the Online Submission area of Blackboard. Advice on completing this Proforma: Download the word file document to your computer. Open the file and save the file with a new name. Remove the “instructions” and the “notes” to each section in the Pro-Forma. Insert your text within the boxes provided. Save and print your document. Retain a copy for your records. Submit your proposal. The Proposal Template Your Name, Programme of Study, Student Number, Centre & Intake. Stephanie Lloyd-Foxe MBA Distance Learning MBA students only: If you have elected to specialise please identify your specialism (i.e. Finance/Marketing/Managing Quality etc … N/A Please identify any University of Leicester Tutors with whom you have discussed your proposal and the forum you used (e.g. workshops/Blackboard) Dr Warren Smith: Blackboard Title Leadership in the aftermath of the financial crisis: A case study of Magna Housing Association Abstract This research proposal is a case study of a housing association’s staff, in terms of how they relate to their management in a post global financial crisis world. Due to the change in economic environment that has taken place since 2008, there has been a seismic shift in standard of living and rise in prices coupled with either reduction or stagnation of wages. This may lead to a decrease in motivation amongst personnel coupled with a rise in anxiety levels that may bode ill for productivity. This research proposal aims at examining how the workforce is dealing with the pressure of living in a post-global financial crisis situation. Due to massive job losses in the general population the number of people requiring assistance from the government naturally increases. There is a limit on how much council housing can be supplied, and the surplus would be absorbed by the housing associations. This translates to more work for the same or only slightly increased pay. Would the atmosphere of general hardship and increased workload result in worker demoralization? The leadership of managerial staff therefore could be the factor that makes the difference between a motivated, results-oriented staff and a warzone in which every person is too busy holding tight to their position to work effectively. Introduction (approx. 200 words) All around the world, cutbacks are being made in the way organizations are remunerating their employees, or giving them incentives to work harder. Several studies have shown that for people earning sufficient income, non-fiscal motivators are more effective in engaging employees in most sectors, job occupations and business contexts (Gibbons, 2006). This premise is borne out by a survey carried out by Mckinsey Quarterly(2009) in which participants named as motivators, three non-fiscal rewards as commendation from immediate managers, attention from leadership and the opportunity to be project manager that were thought to be just effective if not more than the three most valued financial rewards viz. cash bonuses, better basic salary or stock options. The three non-fiscal incentives gave employees the feeling that the company values them. These are themes that have been found in more than one survey. Although housing associations were not majorly affected by the crisis due to their stable interest rates, the generally increased cost of living due to price increases coupled with low wage increases has impacted on workers. My premise for the dissertation will be the paradigm shift that occurred after the global crisis and how it has affected employee performance and motivation in the workplace; specifically the housing sector; and how effective leadership can assist in maximizing worker potential. My research question therefore would be; “How does the post-financial crisis atmosphere impact on the leadership style of managers in non-profit organizations such as housing associations?” with sub questions to answer being; “Does the consequent rise in cost of living psychologically affect the motivation of personnel even when fear of job loss is not a factor?” and “How best would the manager deal with this?” Relation to previous research (approx. 400 words) According to Perth Leadership Institute (2008) the foundation of human achievement is having an effective leader. With the challenges of a recessionary environment, commercially, economically and socially, organizations the world over are determined to discover, develop and install exceptional leadership. When economies slow down, there are predictable patterns to it. Immediately before the slowdown occurs, the economy is at the height of its growth, leading to complacency. Cash flow is fairly easy and therefore a great deal of waste occurs. Companies as well as individuals, become lax and neglect their savings and investments. This type of behaviour experiences a rapid shift to the other extreme once the recession hits. Where once, there was waste of money by organizations and individuals, now there is panic and indiscriminate cost cutting. This exacerbates the slowdown and negatively impacts the long term goals of the organisation. With this cost cutting comes effects that may be unintended. These effects comprise a dip in morale in staff who recognize the implications of the cost cutting but are powerless to effect it; innovation and initiative is reduced leading to resignation of those staff that are proficient in innovation. In the rapidly changing environment of the 21st century, managers and leaders are expected to keep up with this transformed situation (Lewis, Goodman & Fandt, 1998). Abilities managers need in the new millennium include being team players, effective communicators, able to solve problems, be agents of change as well as leaders (Lewis et.al, 1998). This transformed environment enables the leader to take on different roles in order to ensure success (Hooper & Potter, 2000). The recognition that the experience, knowledge and skills of the human resource is crucial to organizational success has culminated in the expectation that leaders must pay more attention to the nurturance of the human resource aspect of an organization (Steers, Bigley & Porter, 1996). Many organizations are experiencing low leadership performance due to the Global Recession we find ourselves in. This is putting these organizations in jeopardy due to the compromised psychological state of managers dealing with added stress. Human nature dictates that stressed managers are more inclined to make erroneous decisions that could culminate in compromised service and productivity. Our emotions and moods affect our decisions and the quality of our actions. Recent research implies that all decisions are actually emotionally based with logic used to provide a rationale for them. It is therefore necessary for managers to develop some emotional skills in order to maintain optimum productivity(Zeus and Skiffington, 2008). Social Exchange theory illuminates the mutual relationship between discernment of an organisation’s enabling environment, facility and organisational incentive and the compliance of staff in maximising both personal and group performance. Organisations are a community in which members require meaningful occupations in order to feel inspired. Substantial benefits naturally accrue from committed and compliant staff. Organisations are increasingly seeking win-win solutions that merge their objectives with those of their personnel. Engagement is a complex ensemble that has many definitions. Fundamentally though, it is agreed that personnel will show commitment when they feel appreciated and involved. There are four facets to psychological contracts which firms should have with employees. The first is cognitive (or intellectual) that is, reflecting upon one’s profession and arriving at ways to excel at it. The second is emotional (or affective) which is being able to feel good about doing a good job. The third is social which involves taking the opportunity to brainstorm on how to improve in work related matters. Lastly, there is the physical dimension which encompasses the stamina involved to go the extra mile (Serrat, 2010). Proposed methods (approx. 400 words) In order to collect and analyse data for my research I will be working with employees of Magna Housing Association to establish what kind of leadership styles various managers employ in their interaction with workers and which is the most effective method according to results. The methodology I shall employ shall be mixed method. Firstly, I shall use observation method that is common with behavioural sciences (Dawson, 2002) which involves amassing primary data through observance of the subjects. I feel that this would be a good way to glean how motivated employees are, by observing them as they go about their work. This would also be a good way to obtain such information as the subjects are reluctant or unable to provide. For example, an employee may claim to be highly motivated and enthusiastic about their work but observance of the employee at work may yield different results. The limitations of this study include the expense involved and the inability to observe the emotions and beliefs that actually do motivate the employees. It is for this reason that I shall supplement observation with the survey method. This will involve unstructured questions that will use respondents’ answers to guide me on which direction to go. I will be using both direct and indirect approaches to ask questions in order to obtain as comprehensive a picture as possible.(Kothari, 1985). Finally, I shall conduct in-depth interviews with managers in order to establish their leadership styles and how they have dealt with issues of employee morale and organisational productivity in light of the recession. Performance reviews will be examined in order to gauge how successful these strategies have been in practise. Sampling I shall employee the stratified sampling method because it is crucial that each subgroup within the organisation is represented in the sample. This will involve division of the target population into subgroups based on what their employee designation is. These subgroups will then be randomly sampled using the same sampling fraction for each group as it has in the whole organisation. These will then be recruited into the study. The two main goals of recruitment are; Recruitment of a representative cohort and Recruitment of adequate numbers to fill the sample size and power parameters of the study. Hulley, Cimmings, Browner et.al (2001); Keith, (2001). Data Collection and Analysis Recognized qualitative measures as laid out in Bogden & Biklen (1992) will be used to answer qualitative questions. This data will be obtained via the interviews with managers and questionnaires given to employees. The written questionnaires will ask various open-ended questions which give room for different answers Hoeplf (1997). Reflections Ethical Issues Denzin (2002) stated that the ethical practises which dictate how we record the lives of others entail four preset journalistic customs of precision; non-malfeasance, the right to know and publicising one’s ethical position. The researcher is obliged to follow the norms outlined below if they are to be honest brokers with the participants; Aspire for equity and truthfulness instead of impartiality. Insure that there is no injury to participants. Where possible, to air findings by featuring the words of the participants. Keep the interaction with participants in context with self-disclosure of the role the researcher plays Ulin, Robinson & McNeill (2002). In order not to contravene any of the ethical issues, the researcher undertakes to; (i) Give full disclosure to the worker on the nature of the study, their role and the possibility or not of any compensation that may be offered. (ii) The researcher will undertake to make the completed study available to participants, should they wish to peruse it. (iii) The researcher will aim to ensure that the participant understand the requirements of the study, as well as the fact that the findings will be made public. (iv) The researcher undertakes to keep all the names and other personal details of the participants private. (v) The researcher will aim to report accurately all the findings of the study and not skew any data to reflect personal or other interests. (vi) The researcher undertakes not to use any data obtained for any other purpose other than those stated as the research aims and objectives. (vii) The researcher undertakes not to seek out information from participants that may place them in harm’s way. Strengths and Weaknesses of the Study A research study that incorporates a qualitative element as a tool can be utilised to understand and describe the realm of human experience. We cannot escape our own humanity, even as we don the mantle of researcher, therefore it is impossible to avoid subjectivity, however seasoned we are. Going through the process of research is guided by our humanity through intuition. It takes a lot of time and energy and dedication to navigate the world of human experience yet it is often dismissed as too subjective and disregarded. While these studies cannot be generalised, they still have some abiding qualities that make up for this weakness. A chief strength is the profundity with which investigations can be done and extensive descriptions recorded. This results in enough detail for the recipients of research to appreciate the eccentricities of the circumstances. The ultimate aim of the report is to give a point of view of a situation and provision of a well written report reminiscent of the researcher’s capacity to exemplify and explain the attendant occurrence. Conclusion To conclude, I propose to conduct a research evaluating how the workplace in the social housing sector has changed in the last three years, since the financial meltdown that began around 2008. With the resultant massive job losses that resulted in especially in the real estate sector, where many people lost their houses and thus would need to look for housing to reside in; workers in housing associations may be affected psychologically by the general increase in cost of living vs. the small increase in pay, accompanied by an increase in workload due to increased demand for housing. There has been a change in atmosphere in the workplace generally and this may have led to either a rise or fall in motivation. My research aims to ascertain the truth of this statement and establish whether effective leadership plays a part in ensuring that employee potential is still maximised in this tense environment. As documented, motivation stems from both intrinsic and extrinsic factors. Intrinsic factors are personal to each individual and therefore are difficult to tabulate effectively. Extrinsic factors though can be examined for commonality. It has been established that nurturing of personnel by management plays a crucial role in ensuring that productivity is satisfactory. In the new millennium, the focus has shifted from core competencies to do with technical abilities of the manager to effective human resource management. With the escalated situation brought about by the global financial crisis and numerous foreclosures, this ability to motivate workers to perform is ever more important. Timetable (approx. 100 words, or a one page diagram) May – July August - September October –December January – February Proposal writing Approval Literature Review Conducting research Report writing References Accor: Reward to Engage: Rewards, Benefits and Employee Engagement in Today’s Organisations and at http://engagement.accorservices.co.uk/website/employee engagement-whitepaper-form.html. Barrow. J.C. (1977): “The Variables of Leadership: A Review and Conceptual Framework” Academy of Management Review (April). pp. 23 1-251. Bogden, R., & Biklen, S. K. (1992). Qualitative research for education. Boston: Allyn & Bacon. Corporate Leadership Council (2004) Driving performance and retention through employee Engagement: a quantitative analysis of effective engagement strategies, Corporate Executive Board. Fiddler. F. E. (1967): A Theory of Leadership Effectiveness. New York: McGraw-Hill. Goleman, D. (2000): “Leadership that Gets Results”. Harvard Business Review (March/April). pp. 78-90. Hoeplf, M. C. (1997, fall). Choosing qualitative research: A primer for technology education Researchers. Journal of Technology, 9, 12-39. Hulley, S.B., Cimmings, S.R., Browner, W.S. et.al (2001) Designing Clinical Research. An Epidemiologic Approach. (2nd Ed.). London: Lippincott, Williams and Wilkins. Ipsos MORI/Improvement and Development Agency (2006) Lessons in Leadership. Kennerly, S. M. (1989). Leadership behaviour and organizational characteristics: Implications For faculty satisfaction. Journal of Nursing Education, Vol.28, No.5, pp198–202. Kirkpatrick, S, A. and Locke, E. A. (1991): “Leadership: Do Traits Matter?” Academy of Management Executive (May). pp. 48-60. Lewis, P.S., Goodman, S.H. & Fandt, P.M. (1998), Management: challenges in the 21st Century. Cincinnati: Thomson. PwC, Managing Change in Your Business, September 2000. Ryback, D. (1998), Successful leadership is more than IQ: putting emotional intelligence to Work. Boston, MA: Butterworth- Heinemann. Serrat, Olivier, (2010) Engaging Staff in the Workplace. Asian Development Bank 6 ADB Avenue, Mandaluyong City Somekh, B., & Lewin, C. (2005). Research methods in social sciences. London: Sage Steers, R.M., Bigley, G.A. & Porter, L.W. (1996), Motivation and leadership at work. Singapore: McGraw-Hill. Ulin, P, Robinson, E., McNeill, E. (2002). Qualitative Methods. A field guide for Applied Research in Sexual and Reproductive Health. North Carolina, Family Health International. Walter, M. (2006). Social Science methods: an Australian perspective. Oxford, New York: Oxford University Press. Appendices (optional) ---------------------------------------------------------------------------------------------------------- END OF STUDENT SUBMISSION THE FORMS ON THE FOLLOWING PAGES ARE ONLY USED IN INCIDENTS OF PLAGIARISM AND/OR THE AWARD OF A FAIL GRADE FOR THIS PIECE OF WORK. STUDENTS SHOULD NOT DELETE THESE FORMS. School of Management PLAGIARISM FORM (Student Assessed Work) This form should only be completed where a case of plagiarism (inc. ‘poor scholarship’) has been identified. It should be attached to the student’s submitted work that contains the plagiarised material. PART 1 – TO BE COMPLETED BY FIRST MARKER Student Name: Programme of Study & Year: Module: Nature and Extent of Plagiarism (please highlight or underline plagiarised text): What, if known, is the source of plagiarism? 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Unfortunately the markers have concluded that your assignment has not met a satisfactory standard. You should follow the advice offered on the AGC form and consider the information below. REASON(S) FOR THE FAIL GRADE ACTION TO TAKE You have not adequately answered the question set. X You need to check carefully that you have understood the question set. Please discuss your interpretation of the question with a Tutor on Blackboard and use the support materials on writing assignments found on Blackboard. You have not adequately explained what you have done. X Please discuss the expectations of the assignment with the Tutor on Blackboard. Your answer is too descriptive – it lacks sufficient analysis to address the question set.  Please refer to the support material on Blackboard. Please discuss your plans for the resubmission with a Tutor on Blackboard. Your answer is too brief or exceeds the word limit set for this assignment.  Please keep to the word count stipulated in the assignment question. For advice on developing an essay please see your Programme Handbook and Blackboard. You do not make sufficient use of the concepts and theories that are relevant to addressing the assignment question.  Please discuss any plans for a resubmission with a Tutor on Blackboard. You have made use of literature/study materials without fully acknowledging the sources.*  Please read the guidance in your programme handbook on referencing. There is further information on how to avoid plagiarism on Blackboard. You have simply reproduced the information contained in the module and other readings. You must use this material to answer the question in your own words.*  Please read the guidance in your programme handbook on referencing. There is further information on how to avoid plagiarism on Blackboard. Your answer is too similar to that of another student.*  Please read the guidance in your programme handbook on referencing. There is further information on how to avoid plagiarism on Blackboard. Other: Please specify: Items marked with an * are serious academic offences and amount to plagiarism or cheating. Please see your Programme handbook about the regulations governing plagiarism. Second Marker: S. Wagner-T. Date: 12-8-2011 Read More