You have become comfortable with contemporary leadership competencies and feel i

Question

You have become comfortable with contemporary leadership competencies and feel it is time to open your own small business. As a future business owner, you know that all organizations must be well managed and that effective leadership is at the core of ensuring that a business runs smoothly. Reflect on the following questions and write a 3-5 page report to help you solidify your thinking and describe your plan for running a small business.

Refer to the DISC behavioral characteristics you identified for yourself in module 01. How will you use two of these characteristics (i.e., values, culture, mission, and vision) to shape your small business?

Employees are a business's greatest asset. Refer to the best leader traits/skills/tactics you identified in module 02. How will you mentor the informal and formal leaders that you hire?

Identify the leader theory from module 03 that fits you best. How can this leader theory help you align business goals, customer expectations, and employee objectives?

Refer to the challenges to leading change that you selected in module 04. Identify two of these challenges. How will you address these challenges to minimize risk for your new business?

Utilizing the facilitative leadership skills you studied in module 05, discuss the three facilitative leadership skills that you think are the most important for your business. How will you incorporate what you learned about facultative leadership into your business so that employees can successfully run meetings and projects?

Refer to the leadership skills you presented in module 06, as well as the other concepts you've studied in the course (e.g., leader traits, leadership theory, and facilitative leadership skills). How will you use these to ensure effective leadership in your small business?

Here is module 6

It is of pertinence for an organizational/business unit head to be a sound decision maker, with a superior business knowledge. However, it is more important for him/her to be a good leader. Let us take a look at some leadership theories that define leader on one end, and help us find the ‘type’ of leader in us on the other.

Path Goal Theory

The theory draws from the premise that a leader’s behavior affects to a great extent an employee’s perception of expectancies between his effort and performance. The leaders clarify the paths to goals and help get rid of the obstacles in the way.

The leadership styles here can be

Directive

Supportive

Participative

Achievement-oriented

Great Man Theory

This theory relates great leadership with some innate and some imbibed traits possessed by great leaders. This theory believes that leaders are not like other people.

Trait Theory of Leadership

This theory, again, believes that certain traits make one person a leader and not the other person. The traits are:

Achievement drive

Leadership motivation

Honesty and integrity

Self-confidence

Cognitive ability

Knowledge of business

Emotional Maturity

Leadership Member Exchange Theory

According to this theory, leaders share different types of relationships with different groups of subordinates. One group may be favored with respect to the other group. The former receives attention, respect and resources from the leader while the latter does not, or in a toned down fashion.

Transformational Leadership Theory

This theory states that a leader should have an ability to transform the thinking and way of working of the subordinates. The following factors are exhibited:

Inspirational Motivation

Intellectual Stimulation

Idealized Influence

Individualized Consideration

Transactional Leadership

This theory believes that the best way to motivate a subordinate is to appeal to his/her self-interest. It involves three dimensions:

Rewards

Active management

Passive management

Laissez-faire

Importance of Leadership Training and Development:

Leadership training might seem non-necessary but it is of utmost important in any organization for the following reasons:

It improves productivity

It helps in better talent management

It helps in increasing employee engagement

It helps make better decisions

Explanation / Answer

According to DISC behavioral characteristics I would use values and culture to shape the small business.
According to DISC behavioral characteristics, I belong to inspiring type of personality style. Which means that I love to interact and have fun while developing a better relationship with others. I would ensure that the culture of small business is fun loving and also ensure that they love their work. This would help in developing better relationship and would encourage them to share their expertise for development of the business. I would also ensure that all the work is done according to the ethical code of honesty and integrity.

I would mentor the informal and formal leaders. But the first step would be to hire candidates with right Mix of leadership skills and interpersonal skills. It is also important that the leaders have ability to communicate effectively. After hiring the right candidate I would provide them with leadership training which would involve case studies of the leaders across the world and the strategies that they followed in the times of turbulence in their business. Along with this I would make them involve in team building activities so as to develop coordination among the team members.

I would follow transformational leadership Theory. As it states that the leaders have ability to influence their subordinates through their own actions. It is also one of the most effective technique in order to manage the associated team. It would also ensure that the values of leader. It would also ensure that the values of leader are being imbibed by the team members.

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