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Leadership played a substantial role in the recent economic troubles. The banking industry suffered from leadership that was incentivized to pursue high-risk short-term policies that resulted in high levels of return but subjected the entire economy to substantial risk. In the automobile industry, leaders failed because they did not adequately anticipate industry trends and did not adjust the corporate culture soon enough to respond to changes in the external environment (Davis, 2009). The insurance industry suffered as the banks did from taking on too much risk, the result of leadership more concerned with short-term results that with long-term growth.
In order to select leaders to guide them out of the abyss, these companies must find leaders with different traits -- in the case of banking and insurance a more conservative mindset and in the case of automobiles a more progressive one. The shareholders should ultimately take responsibility for their investments, as the U.S. federal government did in appointing a new CEO for its General Motors subsidiary. The leaders of AIG, GM and Citibank were not effective leaders, as they led their companies to the brink of bankruptcy. Agency theory holds that these leaders are supposed to act on behalf of shareholders, yet those shareholders saw the value of their holdings eviscerated under the stewardship of these leaders. An effective leader of any of these companies would have sufficient understanding...
Effective leaders are not always self-evident. They often must be identified, and this is done by understanding the type of leadership that he or she offers and comparing that to the type of leadership that the firm requires. I am an effective leader, but my leadership style is not going to work under all circumstances. There is an element of fit that is required.
1. Fielder (1996) explains that leadership can be selected on the basis of a number of different criteria. Prior to 1945, the conventional belief was that leadership was something that could be measured on the basis of traits. Someone either had these traits and was a good potential leader or that someone did not have these traits and therefore had limited leadership potential. Leadership has moved beyond this limited view to encompass a number of different theories about the nature of leadership, and this increased knowledge has helped to understand the different ways in which leaders can be identified and cultivated.
Fielder acknowledges that there is no one dominant leadership trait, behavior or personality. Leadership, therefore, is dependent on the situation. Good leaders are likely to be chosen from a given group based on their ability and some aspects of their personality. Typically, good leaders are…
Works Cited:
Davis, S. (2009). Obama blames failure of leadership for auto crisis. Wall Street Journal. Retrieved October 27, 2010 from http://blogs.wsj.com/washwire/2009/03/30/obama-blames-failure-of-leadership-for-auto-crisis/
Leadership in an International Business Changing Roles of Managers & Teams Leadership and Employees Behavior in International Business With the change in the structure of enterprises from national to international, the organizations are forced to hire talent from cross-cultural background. Due to this, a complexity for an organization while handling their human capital increases. In order to combat this complexity, it is important that the individuals inducted show an acceptance to diversity and
Self-confidence is one of the most universally agreed-upon traits of a leader. In order for the organization as a whole to have confidence, the leader must exude confidence. There will be moments in any initiative the followers cannot see the benefits of the initiative or do not feel that they will be able to execute the initiative. It takes the confidence of the leader in order to enable the rest
However, this finding is dependent on the culture from which the leader comes from. This assessment is best applied, as was the case in Liu's study, among Japanese leaders being assessed by their Chinese employees; the same finding cannot be applied when Chinese employees were asked to assess their Chinese leaders'/managers' effectiveness in terms of leadership. Correspondingly, Chinese leaders are considered effective if they maintain a "frequent, mutually beneficial
Thankfully, in my role I have become experienced in dealing with multiple stakeholders. I utilized my transformational leadership skills to have all stakeholders buy into my vision of the project, allowing me to shape the project in a manner that would allow me to deliver satisfactory results to all of the stakeholders. Leadership Lessons I knew that I was going to demand a lot from all of the different stakeholders, and
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