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The founder of Wal-Mart was Sam Walton. He opened up the first Wal-Mart store in Rogers, Arkansas in 1962. The goal of the Mr. Walton when he opened up the first retail store was to save people money to help them live a better life (Walmartstores, 2009). The company took off very fast and by 1969 the firm became a publicly traded company. The company’s trading symbol on Wall Street is WMT. Today the corporation enjoys a great level of success. The company is the market leader in the retail industry due to the fact that the service and prices the entity offers are superior to the competition. In fiscal year 2009 Wal-Mart generated $401 billion in global revenues while serving nearly 200 million customers per week (Walmartstores, 2009). Leadership and effective management are two critical success factors that enabled the company to achieve high levels of success.
Management and leadership are two completely different business concepts. Leadership can be defined as a special case of interpersonal influence that gets an individual or group to do what the leader wants (Schermerhorn & Hunt & Osborn, 2003, p.286). Management is the act of performing the four managerial functions which are planning, leading, organizing and controlling. In order for a person to become an effective leader the group has to trust the individual. Leadership is not a trait that is limited to the managerial staff. Anybody within an organization can display leadership. It is very common for leadership to manifest itself within a team setting. In such a setting leadership provides the vision to achieve the end state goal (Kumle & Kelly, 2009). I have personally worked in teams in which I became the leader of the team in order to ensure that the team completed the project at hand. Depending on the circumstance a manager has to decide whether to act as a manager or as a
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For the purpose of this study, Nike is chosen as a case study. The paper will finally conclude with various strategies which can be adopted by managers and leaders for developing and maintaining a healthy organizational culture. “Management is efficiency in climbing the ladder of success; leadership determines whether the ladder is leaning against the right wall.” Stephen Covey Difference between leadership and management The terms leadership and management have been used interchangeably and are relatively similar in more ways than one, however the concepts are not mutually exclusive.
Along with the cadre definition, the roles are being assigned in terms of team members, team leads, team helpers, supervisors, assistants, and many other ranks. Management: Management is the organizing of activities for the pursuit of accomplishing any task.
The current essay hereby aims to address the following concerns, as related to the organizational experiences of Westgate Resorts: (1) a differentiation between management and leadership; (b) a description of the roles and responsibilities that organizational managers and leaders play in creating and maintaining a healthy organizational culture; and (3) an evaluation of the effect of globalization and management across borders.
I feel that you will find this report to be very helpful when deciding which leadership role you wish to take when working with employees. This report delves into the world of how leadership styles affect situations and employees and when it is appropriate to use each.
The major points of this definition are that leadership is a group activity, is based on social influence, and revolves around a common task. Although this specification seems relatively simple, the reality of leadership is very complex. Intrapersonal factors (i.e., thoughts and emotions) interact with interpersonal processes (i.e., attraction, communication, influence) to have effects on a dynamic external environment.
This is not an easy task, as the demands placed on the business due to globalization and centralization of lending/investment practices requires a dedicated organizational culture and competent leadership. At the
Leadership requires proper allocation of responsibilities to the group, providing the necessary tools and a clear vision for achieving the desired objectives.
It would be appropriate to say that while managers are concerned about the revenues while leaders are more
It is a powerful retail brand which is marked by its value for money, convenience and a wide range of products all in one store (“Walmart part 3, 2012).
According to (“Organizing function of management”, n.d.), the organizing functions managed within Wal-Mart are the
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