But, then, what is leadership? Unfortunately, the available literature on the subject is less than clear, with different researchers coming up with different criteria and different proofs. The three top theories are trait, behavioral, and contingency. The first argues that leaders simply possess inborn traits that make them so. The second presumes leadership can be learned, and the third takes a more holistic approach incorporating individual traits with specific action and individual circumstances. For my own purposes, the final conception of leadership is the most appropriate; it will permit me to, in the future, adapt my leadership style and actions to the varied situations that will arise during the course of running a business. Attempting such a task based on a limited number of personal traits or history of behaviors may not be wise; taking a contingency approach allows more flexibility. Finally, conflict -- usually perceived to be bad -- is much like stress in that some conflict is actually functional for the organization. It is...

Conflict occurs when one party perceives another to be blocking its interests. When that happens, the first party can react in a variety of ways, but -- given an appropriate, moderate level of conflict -- we should expect to see an improvement in the level of interaction and debate among employees, leading to a more dynamic organizational climate.
Each of these managerial concepts -- organization, stress, leadership, and conflict -- will form the backbone of my future in the business world. As an intended business owner, it will be my task to put these concepts into actions in the organizational setting. Through contingent leadership, I will have to create an organizational culture that manages appropriate levels of stress and conflict for my employees in order to raise the level of their performance and exceed the goals of the organization.