Anuradha Prasad S11011042Alvin Sharma S97001213Sheron Subhasni S11039938

Group 7

Seminar Topic

Define a “Successful Leader”. Why are some leaders successful and others not?

Presentation OutlineLeadership Definition

Leadership Theories/ Approaches

Analysis of Leadership vs. Management

Leadership Traits

What Makes Leaders Effective?

What are traits of Ineffective leaders?

Conclusion

Presentation Outline

How are some people able to effortlessly lead and inspire others, whilst others meet with constant criticism and failure?

What are the qualities that we should look for in potential leaders?

If you ever find yourself in the position to offer leadership, what are the factors that will help you lead more effectively?

LeadershipProcess of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task

“The ability to influence a group towards the achievement of a vision or set of goals.”

LEADERSHIP STUDIES

A Leadership study undertaken at the University of Michigan’s Survey research Centre divides leaders into:

Employee–oriented leader: emphasizing interpersonal relations; taking a personal interest in the needs of employees, and accepting individual differences among members.

Production-oriented leader: one who emphasizes technical or task aspects of the job

LEADERSHIP STUDIESThe Scandinavian studies introduced

the concept of “Development-oriented leader”: a leader who values experimentation, seeks new ideas, and generates & implements change.

Fred Fielder suggested the “Fiedler Contingency Model” – that effective groups depend on a proper match between a leader’s style of interacting with sub-ordinates and the degree to which the situation gives control and influence to the leader.

LEADERSHIP STUDIES

Fiedler and his associate Joe Garcia then came up with the “Cognitive Resource Theory” – a theory of leadership which states that stress unfavorably affects a situation, and that intelligence and experience can lesson the influence of stress on the leader.

LEADERSHIP STUDIES

Paul Hersey and Ken Blan Chard developed the “Situational Leadership Theory’ – a contingency theory that focuses on followers'’ readiness.

The Leader-Member Exchange theory states that the creation by leaders of in-groups; subordinates with in-group status will have higher performance ratings, less turnover and greater job satisfaction.

LEADERSHIP STUDIES

Robert House developed the “Path-Goal Theory” – the theory that it is the leader’s job to assist followers in attaining their goals and to provide the necessary direction and/or support to ensure that their goals are compatible with the overall objectives of the group or organization.

LEADERSHIP STUDIES

Victor Vroom and Philip Yetton proposed the “Leader-Participation model” a leadership theory that provides a set of rules to determine the form and amount of participative decision making in different situations.

The “Attribution Theory” of leadership states that leadership is merely an attribution that people make about other individuals.

APPROACHES TO LEADERSHIP

Max Weber defines “Charismatic Leadership” where followers make attributions of heroic, or extra-ordinary leadership abilities when they observe certain behaviors.

A study of 29 companies identified leaders without egos as “Level 5 Leaders” who are fiercely ambitious and driven, but whose ambition is directed towards their company rather than themselves.

APPROACHES TO LEADERSHIPToday, leaders can also be defined as transactional or transformational.

Transactional Leadership

Leaders who guide or motivate their followers in the direction of established goals by clarifying role and task requirements.

Transactional Leadership characteristics:

Contingent reward- Contracts exchange of rewards for effort, promises rewards for good performance, recognizes accomplishments.

Management by exception(active)- watches and searches for deviations from rules and standards, takes corrective action.

Management by exception(passive)- Intervenes only if standards are not met.

Laissez Faire- Abdicates responsibilities, avoids making decisions.

APPROACHES TO LEADERSHIP

Defined as leaders who inspire followers to transcend their own self interests and who are capable of having profound and extraordinary effect on followers.

Charisma- Provides vision and sense of mission, instills pride, gains respect and trust

Inspiration-Communicates high expectations, uses symbols to focus efforts, expresses important purposes in simple ways.

Intellectual Stimulation- Promotes intelligence, rationality and careful problem solving.

Individualized consideration- Gives personal attention, treats each employee individually, coaches, advises.

Andrea Jung at Avon

James Strong- former CEO of Qantas

Sir Richard Branson of Virgin Blue

Transformational Leadership Examples

APPROACHES TO LEADERSHIP

APPROACHES TO LEADERSHIPSelf Leadership – a set of processes through

which individuals control their own behaviour.

Jean-Paul Sartre argued about “Authentic Leaders” who know who they are, know what they believe in and value, and act on those values and beliefs openly and candidly. Their followers would consider them to be ethical people.

MANAGEMENT VS. LEADERSHIPLeadership and management must go hand in hand.

Workers need their managers not just to assign tasks but to define purpose. Managers must organize workers, not just to maximize efficiency, but to nurture skills, develop talent and inspire results.

The late management guru Peter Drucker was one of the first to recognize this truth, as he was to recognize so many other management truths.

MANAGEMENT VS. LEADERSHIPHe identified the emergence of the “knowledge worker” and the profound differences that would cause in the way business was organized.

With the rise of the knowledge worker, “one does not ‘manage’ people, “Drucker wrote.

“The task is to lead people. And the goal is to make productive the specific strengths and knowledge of every individual”.

“Management is the efficiency in climbing the ladder of success, leadership determines whether the ladder is leaning on the right wall”

Steven Covey

MANAGEMENT VS. LEADERSHIP

MANAGEMENT VS. LEADERSHIP

Characteristics of a Successful LeaderUnderstanding group behaviour

Have a visionPerception by the peersSituationalQuality of experienceAbility to influence othersCharismaticCreativityCourageStaminaRespect for Others

Characteristics of a Successful Leader

Good public speakersAbility to develop followersUpright in character – trustEmpathyEnthusiasticAbility to create “shared purpose”/

“buy in”Ability to deal with Power Distance CommunicationPassion Sense of adventureHumour

What Makes Leaders Eff ective?Inspires, not command

“A leader is best when people barely know he exists, when work is done, his aim fulfilled, they will say: we did it ourselves.”

Lao TzuHave Confidence and BeliefBe willing to admit MistakesLearn from othersDelegate where appropriate

What Makes Leaders Eff ective?

“Leadership: the art of getting someone else to do something you want done because he wants to do it.”

Dwight D. Eisenhower

Emphasize good qualities in others

Sacrifice

Humility

Be prepared to follow

What Makes Leaders Eff ective? “Only one man in a thousand is a leader of men — the other 999 follow women.”

Groucho Marx

Detached from criticismInvests in BusinessCommunicates Consistently,

Clearly, ConciselyGives Clear DirectionIs an Aggressive “Evolutionizer”

What Makes Leaders Eff ective? “Effective leaders spread enthusiasm, inspire

confidence and demonstrate integrity.”

Bob Farrell

• Has a sense of humour

• Emotional Intelligence

• Ability to turn his followers into “hot teams”

What Makes Leaders Eff ective? Popular Myth: Leaders are

born…..not made

“I think a modern misconception in relation to leadership is that it is (a natural ability) and cannot be learned. There are individuals who have been able to learn leadership, and who properly harness the skills of others around them to bring out their leadership qualities. They also stimulate and nurture those same qualities in others around them.”

David Karpin, Chair of Industry Task Force on Leadership and Management Skills, 1994

What Makes Leaders Eff ective?

Become a Collaborative Leader

“In a hyper-connected business world, spurred on by social media and globalization, demands a leadership style that can harness the power of connections. Leaders need to shed the command and control and consensus styles in favour of collaborative leadership. Our research shows that collaborative leaders who get results right do four things well”.

Herminia Ibarra and Morten T. Hansen – Harvard Business Review, Pg. 69, July-August 2011 edition.

What Makes Leaders Effective?

Make global connections that help them spot opportunities (not focus on internal connections)

Engage diverse talent from everywhere to produce results (not rely on homogeneous teams for new ideas)

Collaborate at the top to model expectations (not serve corporate politics and parochial agendas)

Show a strong hand to speed decisions and ensure agility (not let groups get mired in conflict or attempts at consensus)

What Makes Leaders Eff ective? From the Course Book, Pg.

435:

“In Summary, the overall evidence indicates that transformational leadership is more strongly correlated than transactional leadership, with lower turnover rates, higher productivity and higher employee satisfaction. Like charisma, it appears that transformational leadership can be learned.”

What Makes Leaders Effective?

However tempting it may be to assign cultural stereotypes, the truth seems to be that higher-ambition CEOs assume personal responsibility when things are bad and they give collective credit when things are good. These companies exemplify elements of both strong collective and individual leadership. Both — when used in the right situations — are essential for creating economic as well as social value.

Tobias Fredberg – Associate Professor of Management – Chalmers University, Gothenburg, Sweden

What Makes Leaders Effective?

Raymond V. Gilmartin, an adjunct Professor at Harvard Business School advises that:

“Because directors are elected by the shareholders, many define their role solely as representatives of shareholder interests. As such, their performance, along with the CEO's, is evaluated by the performance of the stock price. One- and three-year performance measures are the time frames currently in use. In this environment, it would not be surprising to find many boards focused on maximizing shareholder value and near-term performance”.

What Makes Leaders Effective?

CONT’D

But there is a solution: CEOs and boards should step back and come to grips with the fundamental beliefs that each brings to their leadership and oversight. The ensuing discussion and debate should lead to agreement in the form of a written pact on the set of beliefs about how the firm will be managed.

What Makes Leaders Effective?

The answers to these questions would form the basis of a pact between the CEO and the board that would make explicit the guiding philosophy of the firm and the framework within which decisions will be made. In addition, the pact should be detailed enough to provide guidance for critical decisions in areas that are fundamental to the long-term success of the firm.

What Makes Leaders Effective?The pact should be communicated to shareholders,

the investment community at large, employees, and other stakeholders — much in the same way that corporations communicate their corporate governance policies and guidelines. All stakeholders would benefit from having access to the guiding philosophy and decision-making framework of the firm.

WHY LEADERS FAIL?

Reacts to situations

Have regimes

Gets bogged down in daily routines/ Micro Managers

Fails to see the “big picture’

Control freaks

Take credit for everything

Unclear objectives

No culture of accountability

Ego/ Low emotional intelligence

Abuse of authority

Mistaking power for leadership/ mistaking success for significance

CONCLUSION“A manager is one who does the right things and a leader is one who does

things right”. Peter Drucker

A truly effective leader today is one who can best handle the situations facing him/ her in the most effective and efficient manner, without ego and in a most decisive, upright/ ethical way. Having high level of Emotional Intelligence and an open door policy where employees are welcome to discuss issues concerning their performance or any other work related issue is seen as good practice.

Managers handle multiple complex situations everyday and these may be: solving problems, handling very complex situations, dealing with cost cutting, fraud, change of management, inspiring staff in a highly volatile environment, meeting production budgets, achieving sales targets in a disaster hit area, and many more.

To be successful as a leader, we need to be flexible as we move within the four styles of leadership (autocratic, authoritarian, democratic and laissez-faire), i.e.. Adapt to the different styles which is the best fit to the situation at hand.

Successful leaders need to quickly identify and deal with CAVE People. These are Citizens Against Virtually Everything. As a result of their assault on leadership efforts, the teams follow-through gets fractured and the bright idea or necessary change in direction slips through the cracks.

“Decades of research on achievement suggest that successful people reach their goals, not simply because of who they are, but more often because of what they do”.

Heidi Grant Halroson

CONCLUSION

One of the major reasons why organizations fail is not bad economic times but it is because leaders & managers don’t follow through on what they should be doing. If they do follow through, they let it go.

A major breakthrough in our understanding of leadership came when we recognized the need to develop contingency theories that included situational factors. Course book

Organizations are increasingly searching for managers who can exhibit transformational leadership qualities. They want leaders with visions and the charisma to carry out their visions.

Course book

CONCLUSION

Successful leaders are those who can manage diversity for innovative and competitive advantage. Effective leaders need to develop a vision that has significant appeal for followers who come from diverse backgrounds and cultures. The vision must have the potential to transform the collection of individuals into a group that can accomplish tasks with a sense of continued commitment and satisfaction.

Not surprisingly, a truly global leader is an elusive concept and probably very difficult to develop in the short term. However, this does not preclude the possibility that with strategic thought and appropriate training and development, complemented with the right mindset, aptitude and attitudes, it is possible to develop truly global leaders who function effectively and efficiently across borders and cultures.

CONCLUSION

REFERENCES Wikipedia 2011, Leadership, Wikimedia Foundation, Inc. 31st Oct 2011, http://en.wikipedia.org/wiki/Leadership

www.omafra.gov.on.ca

www.bignet.org/program/module1_leadership

www.iuk.edu

www.ezinearticles.com

www.amazon.com.books.business&investing.economics

www.selfgrowth.com/articles/reeves/html

www.emergingleader.com/article31.shtml

www.effortlesshr.com/blog

www.businesslink.gov.uk

www.pickthebrain.com

www.hbr.org

QUESTIONS