Executive Leadership in Practice Modern Times

Question: Describe about the Executive Leadership in Practice for Modern Times. Answer: Introduction In the modern times, the organization operates in the competitive market due to which implementation of leadership in the workplace becomes necessary. The employees in the organization require the guidance of some leader in order to direct, motivate and innovate them. The leadership further helps the organizations to compensate the employees fairly and in a timely manner. The leadership allows the managers of the organization to establish a deeper relation between the company and its clients. The employees are able to engage themselves in the important projects that increase the productivity of the company. The corporate culture of the organization can be nurtured in a positive manner that creates loyalty and retention of the employees. Thus, it can be stated that the leadership plays a very important role in the organization in developing and achieving the organizational growth. In this particular study, the literature review is done on the leadership of the organization that highlights the various strategies of the leaders that can be implemented in the global market. The strategies of the leaders in the organization are also discussed to understand the various leadership styles that are effective for the organization. The action plan of the organizational leadership is studied in the project to understand the leadership and in its implementation within the organization. Further, the limitation of the action plan is also discussed so that the organization can implement effective strategies to overcome the limitations of the action plan and the challenges of leadership. Literature review Strategies of a leader in the global market A leader can be defined as the one who is understanding and possess broad mind to accommodate different kinds of people with different mindsets and different cultures. In the international market, along with understanding the economy of the global market, there should be understanding of the culture of various countries with whom business transactions would be done. To work in the global market, there is a requirement of cross-cultural leadership among the employees in the organization. Cross-cultural leadership is defined as the quality of a leader to quickly understand the requirements of the people from another country and understand their work culture so that the employees could perform accordingly (Caligiuri and Tarique 2012). The leadership attributes need not be present only in the leader but also among the employees who are working in the organization. However, it is the duty of the leader to teach the team members the need of cross-cultural leadership No culture is similar i n the global market. At times, the difference in culture affects the business transactions among the companies that are working in the global market. A leader who has a thorough knowledge of cross-sectional leadership will first focus on the work culture of the people who are operating in the international market. Eventually the leader will try to conditions the employees to learn and understand the importance of the culture and way of working of the people from various countries. Once good relationship will be built among the employees of different companies, it will be easier for the employees to carry out their job accordingly. Strategies of a leader in the organization In an organization, the leader should communicate with the employees in the organization to tell them about the mission and vision of the organization. The leader should first be clear about the objectives of the organization and then make the employees understand the reason why they are important to the organization and the organization is important to the employees. Once the employees will understand the mission and vision of the organization, they will be able to understand the reason they are working in the organization and will work hard to strive for perfection. The main role of leader in an organization is to help the employees develop their career in the organization. The leader in an organization should follow a transformational leadership. The leader should make the employees to give their ideas in the process of the organization (Garca-Morales, Jimnez-Barrionuevo and Gutirrez-Gutirrez 2012). Once the employees will get involved in the decision-making process, they will come up with various problem solving techniques that will help the organization in the end. Once the employees will see that, their decisions and the perspectives matter in their organization they will take interest in carrying out the job in the company. In addition to this, employees will come up with innovations in the products as well as the operations in the organization. The innovative ideas will help the company to introduce new products and gain more business from the market. Strategies of a leader in the work group When a person is playing the role of leader in work group the main concern for the person will be team building and maintaining cohesion among the employees. An individual can carry out a task well. However, the main changes lies in the fact that the members will be able to gain success once they are working in a group. The employees need to understand the seriousness of the job and the benefits of working in a group. A problem will have more than one solution and they will be free to choose the best solution for the problem. However, problems may arise among the group embers. It will be the duty of the leader to solve the issue, thus, the democratic leadership style would be best for a person who is looking after an entire group. The democratic leadership will help the individual to keep a check on the employees as well as give them freedom to perform well (Bhatti et al. 2012). The role of a democratic leader is to help the m employees to solve their problems among themselves. In th is way, the employee will be independent to solve the daily issues of an organization. The main aim of a leader to is to make more leaders out of the work group. Once the employees will learn to solve the problems themselves, the company will get more leaders from the employees who are working in the organization. Thus, implementing a democratic leadership strategy will help the leader to look after the employees. Strategies of a leader as an individual As far as the individual leadership is concerned, a person should not only focus on developing the skills as a leader but should also give a proper check about self that will help the individual is following the right track of being leader. The best way to assess individual leadership is a self-assessment test (Hargreaves and Fink 2012). Self-assessment test will help the individual to understand whether the person is following the right track of being leader. The idea that should follow to become a good leader is to think of the development of other people and not only the development of the group. Team building should be a concern for the leader but while building a team, a leader should not forget the development of the employees as an individual. As an individual, the leader should keep a check whether the team members able to develop their personal skills. A leader should not overlook an individual for the sake of group. As an individual, a leader should be updated with latest t echnologies in the market. A leader should be able to update the organization as well as the group about the technology and should be able to implement the technology in their work. The individual should be alert with the latest happenings in the society and the market so that the person will be able to guide the team members well. Leadership philosophy and leadership action plan Introduction Need For The Strategic Plan An efficient action plan helps in framing the ideal situation of the firms, in order to frame the ideal business structure (Tannenbaum, Weschler and Massarik 2013). It provides the company with a pathway, that is feasible in framing the course to be followed by the organization to raise their productivity and efficiency of production. How the Plan Was Developed In order to frame an extensive strategic planning system for my self-owned company, TBL private limited, that belongs to the repairing sector. They mends the damaged parts of the cars. The people associated with the company helps in providing their customers with perfect services and products that raises the demand of the products. With the aim of being the high rated company in Australia, the action plan was developed by the company. This would help the company to analyse the current market situation and frame the efficient structure of the organization. The aim of framing the strategic plan could be financial aid, human capital, physical capital, intellectual capital, or developing a new process. The Environmental Scan Organizational History and Structure The organization is a five years old company, that has provided some perfect services and products to its companies. Its accident repair business works with a variety of business works including manufacturers, insurance companies and fleet management companies. They aim at delivering the high level service. The External Environment The legal procedures associated with the framing the company is quite easily set. The countries needs to fulfill some of the basic needs and criteria that would provide the company to expand its business all over the country. Currently the company has been operating limited only to queensland . In order to compete with the other companies of the same industry, expansion of the company is needed. There are various companies that have framed their business in the country, thereby, raising the competition of the market. TBL being one of the most efficient company which handles the order of their clients, it must maintain the par at which their services must be maintained. The Organization In order to raise the market share in Australia, TBL has to formulate an efficient structural plan, that would aim at providing the best services to the customers in the market. They have to adopt the expansion plan in Australia, that would help the company in gaining the customers all over the country. Along with repairing of the damaged parts of the automobile industry, the company has also aimed at providing its clients with license agreements and royalties (Goleman, Boyatzis and McKee 2013). This could be achieved from the company by forming a collaboration of the with another company that is well acknowledged by government and helps in providing the customer with legal insurance and development schemes. Organization Values, Vision And Mission Values Or Operating Principles The value associated with the firm is that the company must provide its customers with the perfect services and products, that would help the company to improve their market share thereby raising the demand for their products and services. The basic operating principles should be such that customer must be the first priority of the organization and secondly the company must aim at improving their demand structure. Vision Vision of the company is to be the top rated company in automobile repairing industry which provided the best service in the society along with license and royalties to the customers. They aim at expanding their business all over Australia and thereby gain the maximum demand for the products and services of the organization. Mission The mission of TBL private limited, is to maintain the ethical framework of the organization, along with provd9ing the best services provided to the customers of the country. They aim at maintain the honesty, integrity and the quality of work provided. They aim at always telling the truth to the customers, thereby keeping them well informed regarding the goods and services provided to the people. They aim at always doing the right thing, and immediate steps must be taken to rectify the errors made (Ubben, Hughes and Norris 2015). The quality of work is very important to raise the standard if work for the people. It is quite important to frame the efficient strategic system, which would help in fulfilling the mission of the company. Goals and Strategies Planned Accomplishments By far, TBL private limited has been able to expand their business to most of the areas of Australia. They have been able to expand their business well and are planning to associate with the BSI trademark certification house, that would help in providing the companies with the authority to issue the licenses and royalties to the owner of the cars. Strategies One of the main strategies to be followed by the organization is to set up an efficient management plan ensures the efficiency of the system. It includes standard methods of doing various things, and where these methods would operate . The management system must depend on a number of factors such as the goal of the organization, the steps needed to run the organization, degree of freedom needed by people at all levels in order to do their jobs well, resources available to carry out the management plan, and how well does the management plan fits in the philosophy and mission of the organization . Collaboration with the BSI trademark company must be initiated , promotions for the services being provided by the TBL private limited must be done and it should aim at providing the best functions to its customers. Monitoring and Review Monitoring In order to monitor over the efforts being given by the employees, whether the strategies are being carried out efficiently or not, there must be an establishment of an efficient monitoring group that would keep an eye on the work done by the people of the company. It would monitor the system at each step of the action plan, thereby being confident over the strategies being undertaken by the company. It is quite important to frame an efficient monitoring system in order to overcome the difficulties and hurdles to be faced by the company, thereby, achieving the visions and objectives of the company. Plans for Reviewing and Refining the Plan In order to frame an efficient monitoring system, that would review and refine the action plan stated and framed by the company, there must be recruitment done for the employees of the management position. These people would assist the owner in remarkably framing the action plan that would implement various strategies in achieving the companys objectives. Any unethical or misfit strategies that are against the principles or mission of the company, could be reframed and refined by these board of directors. Annual Plan The yearly action plan for the TBL Private Limited Company must be framed using the Gantt Chart. Primary activities Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Listing the principles and objectives of the company Framing the strategies of the firms Gaining knowledge regarding the market of automobile repair industry. Create the opportunities and threats prevailing in the environment. Recruit people in the organization Perform the division of labor based in the experience and qualification Form the board of directors that would monitor the action plan. Form an alliance with the BSI trademark company. Promote the company all over Australia Collection of yearly sales of the company Calculate the revenue generated and profit margin of the economy. Analyse the break even situation for the company. Figure : annual gantt chart (source : as created by author) Management and Institutional Development Governance In order to frame an ethical framework of the organization that works according to the strategically implemented action, there must be certain rules that should be adopted by the organization. TBL private limited has some of the important organizational rules such as : Maintaining the discipline of workplace Being honest and dedicated to work There must be an essence of honesty and feasibility while dealing with the customers. Formation of alliance with companies to raise the profit of the organization. Keeping in mind, the objectives, mission and vision of the organization, that would help in raising the productivity of the organization. Reflection By being the owner of TBL private limited, it was quite important for me to be self aware. An effective management and leadership qualities depends upon the amount of sel awareness structure of an individual. I have worked hard to understand my strengths an weaknesses. It has helped me to understand the attributes in me that would help me to gain confidence and assurance of others, and those attributes which may harm my personality, hence it needs to be rectified. It was quite important for me to formulate the planning and strategies that would be implemented in the organization, in order to assist the company for future success. It is quite important, being a leader, to win the assurance and trust of the employees of the organization. This would help in gaining the loyalty from the workers, and these workers are the first one to create an interaction with the customers of the organization (Northouse 2015). I had maintained integrity as a leader, as it helps in creating a matter of value of my words and perceptions that I hold in order to foresee the future of the organization. With the aim of expanding my business all over the country, it is quite important to maintain my integrity in what I speak and what I assure people associated with the organizations. The stakeholders of the organizations must be confident enough to deal with the organization. This can be only perceived when the owner or the leader of the organization has a maintained integrity as an important attribute. In order to take the division of raising the market share of my organization in a broader scale, it is quite vital for me to form alliance with a well developed organization that helps in maintain the standard of, my organization. The selection of a perfect company for collaboration had been taken by me, where BSI trademark company had been selected. This has helped in providing an additional facility of insurance and royalties to the car owners and customers of the organization, thereby, creating a differentiated product for the organization. I have overcome various hurdles in the organization, such as threats of substitutes, competition from other organizations , strategic failure and even failure of framing an action plan. These attributes have made me understand, rectify and try more better implementation of plans for the firm. It has provided me with the experience and confidence to proceed further amongst all the difficulties faced. Demonstration of leadership Leadership can be defined as the art that are used by the experienced and expert people to make others do something effective for the group. Leadership is important in the organization or in the group in order to achieve successful outcome of the activities. Being one of the leaders in the Ashley Furniture Industries, which is an Australian owned business, it is important to carry out leadership practices that help to achieve effective performance of the company. Todd Wanek, the president and the CEO of the company had assumed that there are certain responsibilities toward the company and its growing international operations. Since 2002, when Todd became the CEO of the company, the company witnessed sustained growth. This was possible due to the efficient leadership and vision of Todd. The main motive of Todd was to stay loyal and honest t the company and become the best furniture company in the market. As per his believe, establishing a proper workplace environment and strong relationship between the management and the employees can help to achieve the organizational objectives. Todd had deep passion for the organization and for improving the operations of the organization, the products and the services to ensure continuous growth and development. To increase the effectiveness of the company, the leader implemented democratic leadership in the organization. The democratic leadership style of the organization helps the employees of Ashley Furniture Industries to participate in the organizational activities and in the decision-making process of the organization. The democratic leadership helps the individuals to participate openly in the organization and thereby increases the level of motivation within the employees. Todd being a democratic leader has the responsibility to decide who is an effective member of the group and is capable of contributing in the process of decision-making. The democratic leadership allows the team members in the organization to share their thoughts and ideas and therefore Todd is able to obtain effective solution for the organization. Todd thus provides innovation in the activities that motivates the team members and the staff. The employees further feel more committed towards the work they perform and hence the performance level of the employees is increased (Johnston and Marshall 2016). As the members of Ashl ey Furniture Industries are skilled employees and are eager to share their knowledge with other members of the company, Todd found the implementation of the democratic leadership more effective. Nevertheless, Todd tries to provide adequate time to the employees to be adjusted with the environment of the organization so that they are able to contribute in the organization, help in the process of plan development and express their views regarding the best course of action. The efficient leadership of Todd Waner helped Ashley Furniture Industries to achieve a string brand name that in turn supported merging up with the Arcadia Furniture Corporation to increase the market base. The determination and the expertise nature of the leaders of Ashley Furniture Industries is the main driving force that helps the company to achieve a sustainable position in the market of the furniture industry (Hargreaves and Fink 2012). Experience Working in a team or leading a team requires skills to ensure that the assumed outcome of the activity is achieved. However, leading the team is one of the most difficult tasks, as it requires a lot of skill and hard work to ensure effective team performance. The greatest assets in the process of leading a team are not found in the technical tools but rather in the skills that helps to relate to the people taking part in the team. While working in a team, it is not always possible to ensure that the implementation of the skills takes the right direction. However, it is important for the leader to tackle the situation in a proper manner to avoid negative impact of the steps that has been undertaken (Goleman, Boyatzis and McKee 2013). The team leader of the organization conducts the leadership in such a manner that the employees or the team members are never de-motivated. There are instances where the team members make mistakes, the leader uses the mistake as an opportunity to make imp rovements. The efforts of the team members are to be appreciated even if the effort or the success is a minor one. This allows the employees to become motivated and thereby input extra effort to increase the productivity. One of the other roles that the team leader needs to pay attention towards while leading a team or being a part of the team is that he or she is genuinely interested in the other members of the team. This helps to make the team members feel important. However, in the process of leading a team, the leader faces a number of challenges that might result in serious issues within the organization. The main challenges of the leaders are being clear about what the organization wants to achieve, responding to the agendas, handling the resistance, keeping the members engaged in the work, managing the negativity in the team and ensuring the right balance within the team. In reality, it becomes very difficult for the managers or the leaders of the team to get a clear knowledge about the requirement of the organization. Thus, the leaders faces challenges in making the team members understand their roles with the brief information they have regarding the goals f the organization. Moreover, the different individuals in the team have different level of expectation and hence it becomes difficult to win the satisfaction of the team or the individuals concerned in the team. In the opinion of Daft (2014), the resistance issue is sure to arise in the team even though all the safety measures have been implemented. Moreover, the leaders fail maximum number of times to make all the members of the team to participate actively in the activities. Thus, failure to engage the members causes loss of the organization in term of the productivity, employee and customer satisfaction. Every team experiences negativities, however, an effective leader needs to know the ways in which the negativities can be handled or dealt with. Conclusion Leadership is important in every organization as it helps the managers to enable systematic and effective management. Since the different organizations have different structure and nature of working, it is important for the managers to select the appropriate leadership style that will help to obtain the objectives of the organization. The implementation of strategies of leadership helps to achieve global market shares. The cross culture leadership supports the organization to operate in the global markets that are not similar to each other in terms of the culture. There are different leadership styles that are to be implemented in the workplace to ensure effectiveness and increased productivity of the organization. Moreover, the leaders of the organization also have individual strategies that help them to achieve the required balance in the workplace and therefore improve the quality of the organization. The leaders of the company are highly responsible for the productivity of the em ployees and the organization and therefore they need to be very efficient in playing the role of a leader. Ineffectiveness of the employees is often due to the ineffectiveness of the leaders that needs to be addressed effectively. The action plan regarding the leadership supports the organization to obtain the goals of the organization. The action plan of the organization helps the leaders and the team to become more committed towards their work. The companies have been successful in achieving the appropriate outcome by implementing effective leadership. In addition to that, the leading a team in the organization requires strategic implementation in order to overcome the challenges faced by the leaders. The leaders of the team need to have certain skills that will ensure effective leadership with the organization. However, it is also necessary to implement those skills effectively and obtain the appropriate results of the undertaken activities. Limitations The action plan which has been formulated by the TBL private limited has various flaws and limitation in the structure. The strategies adopted for the expansion of the company in order to raise the market share of the organization has been feasible only to a certain extent. It is not easy to formulate the plans for the expansion of business over the countries of the organization. This might create an important hindrance over the strategic action plan of the organization. With the legal issues to be suffered by the company, while expanding their business, it would be quite a hindrance to ensure the smooth functioning of the company. Forming an alliance with the company has been done by various other companies, who are in the same industry. Creating differentiation in the products of the organization would ensure the company to send products which are competitive in nature. Various substitutes of goods are developed each year, thereby raising the threat of entry of firms in the i9ndust ry. Yet, these issues could be rectified and reframed with the use of the monitoring and governance group of the organization, thereby enabling the company to achieve its aims and objectives. Reference Bhatti, N., Maitlo, G.M., Shaikh, N., Hashmi, M.A. and Shaikh, F.M., 2012. The impact of autocratic and democratic leadership style on job satisfaction.International Business Research,5(2), p.192. Caligiuri, P. and Tarique, I., 2012. 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