BUSMHR 3200 Exam 3

Definition of Leadership - ANS a process whereby an individual influences a group of individuals to achieve a common goal Leadership vs. Management - ANS Leadership: - Focused more on the future - Promotes change and adaptation Leadership skills: Strategic thinking, Conceptual thinking, Innovation/creativity, Inspiring - "Decides where the tracks should be placed" Management: - Focused more on the current - Promotes stability and efficiency - Management skills: Planning, Organizing, Analytical Thinking, Communicating/informing "Keeps the trains running on time" Behavioral theories of leadership (e.g., Ohio State studies, Leadership Grid, etc.) - ANS • The Ohio State studies: there are two broad buckets of behavior—task related and people related behaviors (they did not find any pattern) • The Situational study found that the best leadership depends on the situation • Are there certain things that great leaders do that others do not do? • No combination is the "best approach" to leadership (it depends on the particular situation) • Sometimes, high on people and low on task is better, and vice versa Contingency theories of leadership (e.g., Situational Leadership, etc.) - ANS Telling (S1) is high task behavior and low relationship behavior: to provide specific instructions and closely supervise performance (bottom right) Selling (S2) is high task behavior and high relationship behavior: to explain decisions/provide opportunity for clarification (top right) Participating (S3) is low task behavior and high relationship behavior: to share ideas and facilitate in decision making (top left) Delegating (S4) is low task behavior and low relationship behavior: Turn over responsibility for decisions and implementation (bottom left) Transactional vs. transformational leadership - ANS Transactional Leadership (focused on daily transactions and performance metrics): - Clarifying role requirements, task requirements, accountabilities, etc. - Providing positive and negative rewards for performance Transformational Leadership (these leaders have a vision and they communicate the vision in an effective way and motivate commitment): - Provides a transformational change in engagement of organizational members toward organizational goals *Most transformational leaders are transactional Charismatic leadership and leaders - ANS Self-confidence Vision Ability to articulate the vision and make it "real" to others Strong convictions about the vision Behavior that is out of the ordinary Strong abilities to manage change Environment/resource sensitivity Contemporary views of leadership (e.g., Kouzes and Posner) - ANS Kouzes and Posner's 5 Leadership Practices: 1. Challenging the Process: - Search out challenging opportunities for change - Experiment, take risks, and learn from mistakes 2. Inspiring a Shared Vision: - Envision an uplifting and noble future - Enlist others by appealing to their values, interests, hopes and dreams 3. Enabling Others to Act: - Foster collaboration and build trust - Strengthen people by developing and empowering them 4. Modeling the Way: - Model value-driven behavior - Achieve small wins to promote commitment 5. Encouraging the Heart: - Recognize individual contributions to success - Celebrate team accomplishments regularly Business leadership (The 3 Ps of Effective Business Leaders) - ANS 1. Passion: Have a personal passion for what they do. They'd continue to do it if they were independently wealthy. They'd also continue to do it if they were compensated very little. 2. Performance: They hate to lose. They keep score, and they set high standards. As much as they enjoy winning, they hate losing even more. 3. Principle: Cheating in order to win doesn't count. When faced with a decision that puts profit ahead of principle, principle will always win. Authentic leadership (Bill George) - ANS Very few successful people end up where they thought they would, and yet their life events are not random! - Do you believe people get lucky in their professional careers?" A great definition of "luck": LUCK = "When hard work and preparation meet opportunity" With respect to leadership, there are clear "cycles" of life, and those cycles equate to 'stages' of leadership throughout one's career (i.e. crucibles followed by peak leadership). They understand and learn from their Life Story - What have been some pivotal events in your life? They are Self-Aware - Do you have a clear insight and acceptance of yourself? They practice their Values and Principles - What are those things you are willing to get fired for? They recognize both their Extrinsic and Intrinsic Motivations - Extrinsic motives are not intrinsically evil! They have a balanced life, and Stay Grounded - How do you maintain balance in your life (and/or do you)? - Who keeps you humble...and sane? What's required to become a great leader (e.g., introspection, etc.) - ANS An explicit commitment to becoming a great leader involves: 1) Introspection 2) Self-candor and objectivity (being honest to yourself) 3) A willingness to do what it takes to improve