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What are the characteristics of leading business essay

Vision is the state that an organisation wants to be in and mission is the way of doing it. Its formal definition of the purpose of an organisation and what it wants to achieve. Usually its in a written form and becomes a lighthouse for the organisation to navigate itself. It is made by all the ‘ stakeholders’ of the organisation such as the employees, the customers, and the society. According to Collins and Porras the vision and mission are fairly well integrated. It has four parts namely Core values, Core purpose, Big Hairy Audacious Goal (BHAG) and Vivid description. It has been gaining popularity of late because it encapsulates the vision and mission into one and anchors the value. The core values are those things that cannot be given up at any cost. It can be integrity or quality. When we have any decision dilemma, it comes up like a lighthouse to navigate. Core purpose is the purpose of an organisation. This is something that achieve within the framework of our core values. It gives the achievement orientation to the business and focus. When we are in a decision dilemma, this acts as another light house. BHAG is about having a goal which qualifies the purpose. It should be big, yet specific and that chance of attaining it is only 70%. If the probability of attaining it is more than 70%, perhaps it is not big enough and not audacious enough to set the goals too low. The vivid description should make an entire vision statement very inspiring to all stakeholders. It should be very simple and easily understandable. For creating Mission statement, first we need to identify the organization’s ” winning idea” then measure the key success and combine into a tangible and measurable goal. Then we need to refine until have a concise and precise statement of our mission, which expresses the ideas, measure and desired result. Once we create the Vision statement, move on to create our vision statement. Identify uncover real, human value in that mission. Then what you and our customers and other stakeholders will value have most about our organization mission. Refine these into the values that our organization should have and then combine our Mission and the values and polish the words until we have a vision statement inspiring enough to strengthen and motivate people inside and outside of the organization.

Define planning. Explain the importance of planning.

Planning is a basic management function which enables one to select the purpose of the business, and how the resources should be mustered to achieve that purpose to include using the available resources optimally to do that. It implies goal setting for an organisation keeping in mind the constraints, opportunities, and threats as much as what the person or business which is planning wants to do. It is the blueprint of a business, how it grows, how it implements various actions required for growth. It specifies the schedules, tasks, necessary resource allocations and other actions to achieve the purpose. The purpose of planning should always ends with the decision. A goal is desired future condition that an organisation attempts to reach. It is important because an organisation exists for a purpose for which the goals describe and state that principle. Also state that the method we choose to achieve the vision and execute the mission is planning. Hence planning is about looking ahead. It answers to six basic questions to any activity. What needs to be accomplished and if any alternative routes to it? When is the target? Where it will be done? Who will be accountable for it? How will it get done? How much time, efforts and resources are required to accomplish this goal? Planning helps the management to clarify, attention and results, and research their businesses or project’s development and prospects. It provides a logical framework for the business to develop and pursue business and offers a benchmark against which the actual performance can be measured and reviewed. It helps to avoid mistakes and identify hidden opportunities. In the business context, it guides the development of commodities, finances, management and markets and opposition. It helps in forecasting the future and makes the future visible to some extent. It is also connection between where we are and where we want to go. It reduces ambiguity and provides intellect of direction. It also helps for more innovation, creativity and coordination. It helps to decision making and provides the basics of decentralization and facilitate the controlDifferent perspectives of planning include level, importance, formality, approach and period. It include the steps Being aware of opportunities, Establishing objectives, Developing premises, Determining alternative courses, Evaluating alternative courses, Selecting a course, Formulating Plans and Qualifying by budgeting.

Why leading is important and what are the characteristics of leading?

Leading is the process of setting direction, creating alignment and engagement to deliver high productivity and to facilitate change. Leading or leadership function is said to be spirit of management process. It’s a central point just about which achievement of goals take place. It is also called as an actuating function of management because its throughout direction that the process of an activity actually starts. Being the character of an enterprise, it provides many benefits to concern. Initiates Action – Leading is the function which starts the work performance of the followers or subordinates. Leading ensures to reach the destination more efficiently and effectively. It initiates the actions by giving goals to the employeesSustains Action – Leading on the other hand ensures that the actions go on and course corrections are done automatically by the followers because of their innate belief in the goal being something desirable to follow. Integrates Effort – Through leading, the superiors are able to conduct, inspire, and educate the subsidiary to work. When every employee, team leader, and division leader knows that his/her reaching the goal is dependent on other’s effort, there is a natural flow of inter team and interdepartmental information. Means of Motivation – Leading helps to success of goals. Manager makes use of an element of motivation to develop the piece of subordinates. Provides Stability – Stability and balance can be brought by the managers with help of four tools or elements of leading function -sensible blend of persuasive leadership, effective communication, clear performance goals and efficient motivation. Copes with the Changes – Adaptability with altering environment helps in satisfying planned growth and fetching a market leader. It helps in clarifications, easy adaptations and smooth running of an enterprise. Utilises Resources Efficiently – Goal setting facilitate in clarifying the role of every subsidiary towards the work.

Characteristics of Leading:

Pervasiveness – Leading is required all stage of administration. In team based working, the team leader has to act much like a CEO except that the level of working may be much smaller. Continuity – It is a continuous activity which takes position on a routine basis. Human Factor – Human factor is complex and behaviour is capricious, leading function is significant and people have to be trained the art of leading. Creativity – It is an inspired activity because of the human factors and human being variances and group variances. Executive Function – Leading is conceded out by all managers and decision-making at all stage right through the working of an activity. It implies that the followers execute the utility, which the leader and the disciple agree that it is important for accomplish the organisational ambition and through the entity goals. Delegating Function – It implies guiding followers to destination. Hence, delegating is natural fallout of leading.

Define organisation behaviour (OB). What are the limitations of OB?

Organisation Behaviour (OB) can be defined as a systematic study that investigates the impact of individuals, groups and organisational factors on productivity to include efficiency and effectiveness, absentee, turnover, organisational citizenship behaviour and job satisfaction. It emerges almost as an independent discipline. Systematic Study – Looking at relationships and endeavour to quality reason and effects, and illustration conclusions based on systematic substantiation. Productivity – Performance measure that includes both effectiveness (achievement of goals) and efficiency (ratio on output versus input required to achieve it). Absenteeism – Failure to report to work especially without informing. Turnover – Voluntary and involuntary permanent withdrawal from an organisation (simply put exiting or quitting). Organisational Citizenship – Discretionary actions is not element of an employee’s official job requirements, but that nevertheless endorse the efficient functioning of an organisation. Job Satisfaction – General attitude towards one’s job; the variation between the amount of compensation the workers amuse and the amount they think they should obtain.

Limitations of Organisation Behaviour (OB):

OB is not a remedy for the exclusion of conflict and disturbance but can only reduce them. It is only one of the many systems functioning within a large community system. People who lack system thoughtful, they tend to look only at the ‘behavioural basis’, which provides them a slight view point. This tunnel vision often leads to fulfilling employee skills while fail to notice the broader structure of an organisation in relative to the public. Organisational effectiveness is achieved not by having more and more of a particular factor but appropriate level of it. People who lack moral values could use people in immoral ways.

What is meant by emotional intelligence? What is the impact of emotional intelligence on managers?

Emotional intelligence is the ability for recognising our own opinion and those of others, for motivating ourselves, for managing sensation well in ourselves and in our relationships. According to Daniel Goldman a set of competencies that differentiate individuals with Emotional Intelligence (EI). The competencies fall into four group which are as follows. Self-Awareness – Ability to understand one’s emotions, one’s strength and one’s weakness. Self-management – Capacity for successful managing one’s motive and adaptable one’s behaviour. Social awareness – Capacity for considerate what others says and emotion and why they think and act as they do. Relationship management – Capacity for acting in such a way that one is able to get required results from others and reach individual goals. The most popular and conventional mixed model of EI is the one proposed by Goleman (1995). He viewed EI as a sum of individual and societal competences. Personal Competences – Personal competence comprises three dimensions of EI, such as, self-awareness, self-regulation and motivation. Self-awareness is the capability of an individual to monitor himself/herself and to distinguish ‘a feeling as it happens’ (Goleman, 1995). The characteristic of this ability are self-confidence, self-assessment and sincerity to positive analysisSelf-regulation is the capability to control excitement and to send those emotions that can have negative impact. Reliability, integrity, acceptance of imprecision and attitude to accept change are some kind of this ability. Motivation is the ability to channelize emotion to achieve a objective through self-control and by reasonable impulses as per the condition of the situation. The people who have this ability are positive and dedicated towards organisational as well as individual goalsSocial Competences – It includes of two proportions namely, empathy and social skills. Empathy is the ability to feel and show concern for others, take their viewpoint and to treat people according to their affecting reactions. People with this ability are experts in create and exciting othersSocial skills are the abilities to build a relationship and to manage with people. People having this skill are very successful in expressiveness and team managementAssessment of EI is done using EQ-I, MEIS, ECI, EQ Map and 33 Item self supports: EQ-I: It has been used to measure thousands of individuals, although its soundness is still under questionMEIS: Multifactor Emotional Intelligence Scale (MEIS) is a test of ability rather than a self-report measure. The test stealer execute a series of activities that are intended to assess the person’s aptitude to observe, identify, recognize and work with sensationECI: Emotional Competence Inventory (ECI) is a 360 degree instrument. People, who know the individual, rate him/her on 20 competencies that Goleman’s research proposes. These ratings are linked to EIEQ Map: There is some evidence for convergent and different validity, the data have been accounted in a rather indefinite manner33 – Item self Support: There is evidence for convergent and divergent validity

Characteristics of leaders possessing a high level of EI:

They set goals that are clear and mutually agreed upon. They prefer praise as a tool for training and inspiring employees. They rely on decentralisation for achieving their goals. They focus on employees and their feelings. They are role models. These leaders exhibit a high degree of self-actualisation, self-regard and a strong sense of self-awareness.

Suppose you are the Team Manager in a multinational company with team strength of 10 members. You are given the responsibility of ensuring that the team gives excellent performance or results. What are the key issues you have to handle in team building?

Set Goals to Manage Performance – I will ensure all parties understand the deadlines and how they involved in reaching these deadlines. Once these goals have been met, provide a brief report on the activities made and any proposition met while implementation the goal will assist with the future goals of the mission. Set expectations and context – Will set the clear routine objective and opportunity from the team. The team should get enough resources-people, time and money. Their work should receive enough emphasis as precedence in consultation. The team members should be able to describe their importance if a team has to yield resultsCommitment: All team members may not be similarly committed. First, I will ensure that all the members believe in the mission and predict acknowledgment for their involvement. They expect their skills to grow and develop and they should feel energized and challenged by the opportunityTeam design and competence: The next significant aspect is having sufficient competences. If the team is to get better progression, it should have people with proficiency in each step of the process. Therefore, it is not adequate to get some people together, but it is essential to get people with the necessary competencies. If one fails in this, the teams may not execute or underperform. The team design should be such that the competencies necessary to accomplish the task are integrated. In addition to the technological competencies which vary from task to task, teams be successful if they have the right executive or management competencies. Training programs will assist to improve their efficiencies. Control and management: Any organization function works through manage and management and teams are no omission. Some of the issues to be considered are what are the controls the team members accept and enforce on themselves, what are the boundaries in terms of money, time, how far the associate should go in detection of the clarification, what is the degree of freedom and the chain of reporting. To succeed, the teams should have sufficient freedom and a mechanism for self guidelines and management. Collaboration: The team goals should be a collaborative one and not a competitive one. This would lead to their understanding and interpreting the goals correctly. Create Communication Plan – Communication is key when dealing with bigger teams. This needs to be very clear to all the team members during the course of the Project. Regular Meetings – I will conduct the regular team meetings to ensure these will prevent any misunderstandings/ miscommunication from delaying the project in the long-term. Spend time with the team: At the same time as giving responsibility and trust, I will also work with my team. Of course, need to keep an eye on progress & efficiency, but also to give their efforts the attention they deserve. By working with them, I also learn more about what makes them tick – which will help me to manage through the positives & negative issues. Set Targets – Breaking a plan into achievable goals is essential to project management – and is very companionable with effective people management. Setting goal along the way means people can feel the results of their hard work and stay motivated. Consequences: Team members should feel responsible and accountable for the achievement and they should inherently get the idea of consequences of not achieving it. Reward is one of the important factors to be considered to achieve this. Cultural Change: Teams can function only if the organisation has such a culture. Teams need flat organisational structure, rewards and recognitions, and training and development of a high order. Traditional companies are not designed for effective team operation.**** EOD ****

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