In: Finance
What is leadership? The author of your first reading describes a variety of leadership traits that may fit different circumstances differently. What do you believe are the key essential characteristics of a leader? Does a leader get things done ("cause and effect"), does she motivate or does he steer the organization toward bottom-up solutions and answers? What is your perspective after having read "What is this thing called leadership?"
Leadership can be defined as the ability of the management to make sound decisions and inspire others to perform well. It is the process of directing the behavior of others towards achieving a common goal. In short, leadership is getting things done through others.
Leadership style is a way the person uses his power to lead other people . There are different types of leadership styles , different authors describes leadership styles in different ways. Some of the most common and widely used styles are as follows.
Types of leadership styles :
Autocratic Leadership
Autocratic leadership style is centered on the boss. In this leadership the leader holds all authority and responsibility. In this leadership, leaders make decisions on their own without consulting subordinates. They reach decisions, communicate them to subordinates and expect prompt implementation. Autocratic work environment does normally have little or no flexibility.
In this kind of leadership, guidelines, procedures and policies are all natural additions of an autocratic leader. Statistically, there are very few situations that can actually support autocratic leadership.
Democratic Leadership
In this leadership style, subordinates are involved in making
decisions. Unlike autocratic, this headship is centered on
subordinates’ contributions. The democratic leader holds final
responsibility, but he or she is known to delegate authority to
other people, who determine work projects.
The most unique feature of this leadership is that communication is
active upward and downward. With respect to statistics, democratic
leadership is one of the most preferred leadership, and it entails
the following: fairness, competence, creativity, courage,
intelligence and honesty.
Strategic Leadership Style
Strategic leadership is one that involves a leader who is essentially the head of an organization. The strategic leader is not limited to those at the top of the organization. It is geared to a wider audience at all levels who want to create a high performance life, team or organization.
The strategic leader fills the gap between the need for new possibility and the need for practicality by providing a prescriptive set of habits. An effective strategic leadership delivers the goods in terms of what an organization naturally expects from its leadership in times of change. 55% of this leadership normally involves strategic thinking.
Transformational Leadership
Unlike other leadership styles, transformational leadership is all about initiating change in organizations, groups, oneself and others.
Transformational leaders motivate others to do more than they originally intended and often even more than they thought possible. They set more challenging expectations and typically achieve higher performance.
Transactional Leadership
This is a leadership that maintains or continues the status quo. It is also the leadership that involves an exchange process, whereby followers get immediate, tangible rewards for carrying out the leader’s orders. Transactional leadership can sound rather basic, with its focus on exchange.
Statistically, transformational leadership tends to have more committed and satisfied followers. This is mainly so because transformational leaders empower followers.
Team Leadership
Team leadership involves the creation of a vivid picture of its
future, where it is heading and what it will stand for. The vision
inspires and provides a strong sense of purpose and direction.Team
leadership is about working with the hearts and minds of all those
involved. It also recognizes that teamwork may not always involve
trusting cooperative relationships. The most challenging aspect of
this leadership is whether or not it will succeed.
Cross-Cultural
Leadership
This form of leadership normally exists where there are various cultures in the society. This leadership has also industrialized as a way to recognize front runners who work in the contemporary globalized market.
Organizations, particularly international ones require leaders who can effectively adjust their leadership to work in different environs. Most of the leaderships observed in the United States are cross-cultural because of the different cultures that live and work there.
Facilitative Leadership
Facilitative leadership is too dependent on measurements and outcomes – not a skill, although it takes much skill to master. The effectiveness of a group is directly related to the efficacy of its process. If the group is high functioning, the facilitative leader uses a light hand on the process.
Laissez-faire Leadership
Laissez-faire leadership gives authority to employees. According to azcentral, departments or subordinates are allowed to work as they choose with minimal or no interference. According to research, this kind of leadership has been consistently found to be the least satisfying and least effective management style.
Coaching Leadership
Coaching leadership involves teaching and supervising followers. A coaching leader is highly operational in setting where results/ performance require improvement. Basically, in this kind of leadership, followers are helped to improve their skills.
Charismatic Leadership
In this leadership, the charismatic leader manifests his or her revolutionary power. Charisma does not mean sheer behavioral change. It actually involves a transformation of followers’ values and beliefs.
Therefore, this distinguishes a charismatic leader from a simply populist leader who may affect attitudes towards specific objects, but who is not prepared as the charismatic leader is, to transform the underlying normative orientation that structures specific attitudes.
Visionary Leadership
This form of leadership involves leaders who recognize that the methods, steps and processes of leadership are all obtained with and through people. Most great and successful leaders have the aspects of vision in them.
It's an important function in maximizing the effectiveness of work and productivity.