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Business and Economic (LET Task 2)
Organizations are important units of people, structured to meet specific needs or goals of certain people. Organizational management is a vital part in any enterprise for the purpose of driving organizational activities towards achieving the main objective within its business set up. Human resource management is one of the most important aspects of organizational management, which is responsible for spearheading success within the organization. Therefore, this means that for any organization to excel, it must be able to manage its employees most amicably, with a view to consolidating their efforts towards achieving the maximum attainable profit. At the national levels, public finance management is also critical. For instance, in North Korea and Cuba, autocratic leadership styles are adopted extensively.
With respect to the given scenario, the Executive A exhibits a prowess transformational leadership style, dominated by sharp focus on the bigger picture of the company. In essence, the executive depends on high-rated communication from the management perspective (Kippenberger, 2002). The organizations performance has improved significantly by appreciating from the previous trend in losses, worth two million annually to 128% stock appreciation, as well as realization of a significant profit margin. The executive focuses on the entire company, without singular attribute of the companys success for selfish interest. Accordingly, the executive attributes the success of the organization to the entire leadership other than himself, and sidelines any attempts to praise him on account of this success by the media. Executive A denotes his clear focus on the organization, besides attempting to develop stable and competitive leadership styles within the organization, which would act as his successor with a view to retain high performance index, once he retires in two years time. Consequently, this shows the transformational approach of leadership, assumed by the executive due to his major focus on the organization in general, other than at a personal gain,actively involving the management at the same time.
On the other hand, Leader B assumes a transactional leadership style. In essence, the leader wishes to focus on the companys goals and framework, developed by his predecessor, Executive A. In this regard, besides laying a clear focus to the organizational goals, the leader identifies the main organizational objectives through identification of employees roles and needs for every task towards achieving the organizational goals. Furthermore, he provides directions to the subordinate staff in execution of various organizational tasks and transactions towards achieving of organizational objectives. In addition, the leader identifies and undertakes a an apparent chain of command, with a view to letting clear instructions to teams, while executing tasks delegated to them. Moreover, he holds every team responsible for success or failure of the task. Consequently, he bequeaths rewards to successful subordinate personnel, and issues punishment on account of failure of delegated tasks.
Finally in this context, Leader C can be credited with adoption of participative leadership style. On account of the latter, the leader assumes a democratic approach to operations among the subordinates, while taking to task only the final decision, making them value their roles in decision-making, besides attempting to understand and establish with the subordinates social lifestyles (Kippenberger, 2002). In particular, Leader C puts high emphasis on the companys mission and objective. Additionally, the leader convinces his colleagues to put aside their personal interest in the organization, while inspiring staffs through setting up higher targets for the subordinates, besides building up self-esteem for the employees. While at it, Leader C also believes in setting up rational perspective of problem solving in the organization. In particular, the leader attaches him to the employees social life, such as birthday celebrations among other special events. These further build up the employees vigor, while encouraging them to interact freely with their leaders at departmental level, in matter pertaining to their social lives, which would enhance their fate in the organization. It shows the participative nature of the leader.
If the Leader B is appointed as the successor of Executive A, the organization is likely to experience a number of challenges in the human resource task force. In essence, human resource is an important pillar of any organizational performance. However, the strict approach to solving employees problems may impact negatively the employees esteem, which would also minimize their engagement in productive capacity. Furthermore, the delegation of the tasks to teams is also likely to encounter several setbacks; hence, the team leader would be reluctant to perform innovatively in fear of the punishment, in case of failure of the task from experimental interventions from innovative approaches. As a result, this would minimize the companys prospective to excel in its performance, thus, discouraging the previous performance of the company, and spoiling the firm foundation, laid by Executive A.
On the other hand, if Leader C assumes leadership after the retirement of Executive A, the company is likely to excel through the appreciation of the employees involvement. In essence, Leader C offers a huge motivational capacity to employees, which would enhance their involvement in the delegated tasks, besides aspiring to initiate innovative measures in the production process. Motivated workers are likely to exploitive more innovative means of production. Furthermore, the involvement of the leader in the social lives of the employees is likely to develop the culture of the organization owning, and therefore, a desire to gain the highest achievable limit in the organizational performance. High level of workers involvement in the companys events, as well as interactions of the leaders and subordinates, would encourage the employees to develop a sense of belonging in association with the company.