Entrepreneurs Are Born and Not Nurtured

Entrepreneurs Are Born and Not Nurtured

In my point of view every debate has to sides, and “what born an entrepreneur” but according to the arguments from previous many decades neither side capable to finally prove their case. According to many people entrepreneur must possess personality traits like vision, drive and passion that are inborn and cannot be taught. Others discuss that skills of operating a business, motivating a people and evaluating opportunities are easily passed on to excited or eager students to be entrepreneurs. The fact is that both types of arguments are right and it is time for compromise, “entrepreneurs are born and can be trained”. Some people immediately start a business due to their inherent entrepreneur qualities, others will have trained and studied hard and long before doing so, and both enjoy success.

The need to comprehend entrepreneurship has been gained a great importance to get success in corporate business (Dess et.all,2003). Entrepreneurs pursue and identify solutions among problems, opportunities among challenges and possibilities among needs (Byers, Dorf, and Nelson, 2001). The entrepreneur is an imaginative, bold deviator from commenced business practices and methods who regularly tries the opportunity to introduce new technologies, products, arrangements and processes in the entire world. Successful entrepreneur must have the basic internal capabilities to cope with challenges that are aroused during a startup. The most vital personal characteristics of entrepreneurs are reasonable intelligence, optimistic disposition, good health, perseverance, lengthy attention span and love of people.

Entrepreneurship has critical importance with respect to change in entire aspects of society. It empowers individuals to attempt opportunities to resolve insurmountable problems and issues. From previous century, the role of entrepreneurs have been increased in the creation of enterprises that lead to improved productivity, job creation, higher quality of life and increased prosperity. Now it is contributing to solutions of society’s huge challenges like environment, energy, health, education and security. They use technology and innovation to foster activity and positive impact in entire facets of life. The capable and successful entrepreneur learns to select, identify, describe and communicate the essence of opportunity that has a great potential or role to become a successful venture. The entrepreneur is capable to explain the potential contributions of a venture and develop the business design that leads to sustainability and competitive advantage (Byers, Dorf, and Nelson, 2001).

Entrepreneurs born or made: The initial concept is that entrepreneurs are born and also they can be trained. Now I want to explain my views with the arguments of various researchers and scholars. Various researchers and scholars have various views about the current topic but all has emphasized the importance of entrepreneurship. According to author entrepreneurs are born and cannot be made or trained. They differentiated on the basis of insatiable desire for an inherent love and success of entire things entrepreneurial. They have built in qualities for developing long lasting business by dealing with various risks, challenges and hazardous issues. They have strong positive behavior toward initiation of new things or innovations (Ericksen, 2002). Ericksen had strong hard views regarding the current topic. In 2001, three authors gave contrast views regarding entrepreneurs. They said entrepreneurs can be trained. According to author attitude of entrepreneur impacts the initial success of venture and the same attitude require to show with employees of organization to continue the power of entrepreneur that develops competitive advantage. Authors say “you can hire attitude, and everything can be trained to get a success (Byers, Dorf, and Nelson, 2001).

Professor of psychology, Alan Jacobowitz did interview over 500 entrepreneurs and concluded that entrepreneurs are innate and cannot be trained. He tells the common personality traits of entrepreneurs like independence, restlessness, high self-confidence and tendency to be a loner. Professor was adopted static approach and many other researchers were also support the view of professor (McFadzean, O’Loughlin, and Shaw, 2005). Further authors said that tells the motivation, desires, ability to project their schemes or ideas into future, turn their ideas into reality and backing their judgments into persistence and action are some basis and unique qualities of entrepreneurs. They are also opportunity seekers. There is no any difficulty to find the entrepreneurs because two are not the same so it is easy to point out who is entrepreneur. Some entrepreneurs are introverts and some are extroverts, some have family background of entrepreneurship while other do not have, some start from wealth and other begins with poverty, some are old and some are young.

Entrepreneurs Are Born and Not Nurtured
Entrepreneurs Are Born and Not Nurtured

The question regarding “entrepreneurs are born no can be trained” is main point of focus for many researchers and academic scholars. Regarding this issue many scholars have divergent views. Frakes, author of instinct believe that entrepreneurs are born and DNA of entrepreneurs, their genetics and personality play a pivotal role in whether they become a good entrepreneur or not. To become a successful entrepreneurs five big personality traits are required that include emotional stability, extraversion, conscientiousness, agreeableness and openness to change. These traits cannot be created through training. But in the contrary, Professor Neal Thornberry said that entrepreneurs are not only born but can be trained to become successful through creating and learning the specific inherits characteristics. Thornberry also give the examples of Fred smith (founder of Fedral Express) and Herb Kelleher (southwest Airlines co-founder) and said both entrepreneurs got success after long term commitment and many years of diligent preparation (Thornberry, 2003).

Herb Kelleher replied in his interview taken by Thornberry on the issue of whether entrepreneurs are born or not. He said six inborn traits cannot be trained into entrepreneurs include good health, reasonable intelligence, lengthy attention, optimistic disposition, love of people and perseverance. These six traits further classified into three basic points of health, attitude and intelligence. Herb gave the more importance to attitude from all personal characteristics and it only the one that cannot be trained or made. He reflects the right attitude to be crucial and it cannot be trained. On the other hand, several teachable capabilities that can increase chances of success like ability to set goals and listening (Thornberry, 2003).

Herb tell that other than innate skills there are many skills that can be learnt and taught, that better contribute for entrepreneur’s success. These skills include broad education and knowledge, capability to play enthusiastic advocate, listening skills, capability to focus on goals and set priorities, capability to screen out the vital ideas and things from unimportant and pleasant skepticism. According to herb, lucid vision and ability to communicate it deliberately to others are most vital skills and capabilities required by successful entrepreneurs. Therefore, entrepreneurs are trained and born, and need a blend of these two to become successful. The entrepreneur’s natural born characteristics are foundations or building blocks on which they can build upon (Thornberry, 2003). Modern entrepreneurs require range of various skills like strong ability to communicate in complex and abstract situations effectively (Ericksen, 2002).

From previous two decades many efforts has been made to establish programs to teach ambitious and eager people to realize their entrepreneur potential and start their own business effectively. This is a good notion with a long term goal. But some proficiency like find funding sources or developing a business plan can be learned or taught while basic profile of entrepreneur is imbedded in the structure of personality. There are two fundamental needs that recognized the importance of entrepreneur, they are recognition and control. Most entrepreneurs starts their own businesses because cannot do business in others control. They like to run independent business where they can show their extra ordinary efforts and abilities to gain more and more profits and productivity. They are self-sufficient and self-confident people who have courage to take initiation and deal haphazard or hazardous issues effectively for the best interest of their enterprise (Laser, 2007).

It has been long standing discussed all over the world whether entrepreneurs are born or is it mandatory for them to study and work hard to become entrepreneurs. It has been found that some people became good entrepreneurs with a single amount so it was their luck to gain the potential position. There are some characteristic which is necessary for entrepreneurs to adopt them and become a good entrepreneurs (McCubbrey, 2009): The main characteristics of entrepreneurs are depicted below:

Vision: entrepreneur must able to communicate and create a lucid vision and easily comprehend able mission for the new venture in order to launch a novel business successfully. This can be accomplished through great and extra ordinary qualities of leadership. It is necessary to extra ordinary influence people to accomplish vision and mission of enterprise. Leadership qualities have great importance for entrepreneurs. Successful entrepreneurs are good leaders. Leadership is the ability to influence other to accomplish organizational goals (Robbins and Coulter, 2007). Leaders give the clear direction to their followers toward the goals. They give the motivation to their followers so that followers can ready to accomplish the extra and targeted tasks for the best completion of organizational goals and objectives. Further, vision tells the entrepreneurs what they want to become and mission tells that what is their business or what they want to accomplish in the larger business environment.

Creativity: It refers to the ability to inject uniqueness and imagination into a novel business venture. It also the ability of entrepreneur to create new products, ideas, processes, techniques to become a good and successful entrepreneur in the world. It enables the entrepreneur to offer new venture in the market with novel strategies to cope with stronger competition. Further, creativity leads to enhance the profitability of enterprise through offering and developing novel products or ideas. This profitability and productivity leads to get the competitive advantage in the market to maintain the position of sustainable market leadership. Leaders or entrepreneurs shape the culture of organization through their creative abilities. Therefore, creative mind entrepreneurs cannot get success for their enterprises.

Focus: It is the ability of entrepreneur to sustain the vision of enterprise with steadfast diligence and passion. So it is necessary for entrepreneurs to emphasis on their vision and mission to maintain the sustainable competitive advantage of their enterprises. It is easy for entrepreneurs to get diverted especially in case to accomplish their original vision. Paradoxically, many entrepreneurs get bored easily. Therefore, it is the need of current competitive era; entrepreneurs should emphasis on their goals and remain focus on them for long term basis instead the completion of single task. Passion: Desire to get success under their own initiation for business venture is also the quality of every entrepreneur. It is mandatory for leaders to maintain extra ordinary enthusiasm and passion to accomplish their goals and objectives. Leaders have the ability to create thrill and passion in their followers to accomplish the organizational goals with great zeal and enthusiasm. In this regard motivation has great role. Leaders give motivation to their followers which create the sense of accomplishment in followers toward their goals. Overall motivation has positive impact throughout organizational setting.

Drive: Entrepreneurs have an intrinsic energy to attain the goals of business even in the situation of adversity. They work through showing extra ordinary drive in the larger competitive environment to maintain the sustainability of their enterprises. Strong drive to get success enables the entrepreneurs to cope with unique problems and situations which ultimately support for organizational success. Perseverance: It is the ability of entrepreneurs to remain faced or keep going when faced with insurmountable obstacles. This tendency of entrepreneurs shows their great commitment and zeal toward organizational goals. Opportunistic nature: Ability to see the possibilities before their occurrence or existence. It enables the entrepreneurs to take the advantage of upcoming trends or combine unrelated processes to develop an innovative business venture. This quality can lead to get competitive advantage in the market with comparative innovations related to products, ideas, processes and methods. Today there is era of global competition so it is mandatory for entrepreneurs to create the competitive advantage for their enterprises in the market with their great nature to find the new opportunities. Ability to solve problems: Successful entrepreneurs have thrives on going on exact solutions to complex or abstract problems or issues. It is very necessary ability to cope with haphazard situations.

Frugality: Ability to know about how to stretch every single dollar so that expenditures keep as low as possible. Empathy: It is the capability to put you in front of others and so able to show understanding and sensitivity of what other are communicating or wants in the beginning environment. Social Responsibility: The today’s entrepreneur’s common characteristics are caring, ethics and humanitarianism. Spirituality: It has been found that all successful entrepreneurs devote their time to develop spirituality. Positive affirmations and meditation are two basic examples of spirituality. Good Timing: Ability to identify a better market opportunity and knowledge about the optimum time to introduce a novel venture or expand existing enterprise. This quality has great importance in today’s business environment. The last characteristic entrepreneurs are luck which has great contribution in their success. In the world, luck has vital role in every field of life. If there is no luck, there is no success.

Examples of EntrepreneursBill Gates, a founder of Microsoft is an innate or inborn entrepreneur of the world and also he is the richest person of the world. He became entrepreneurs in the age of 13 years by developing software. Bill Gates change world of computer. He is the most teen ager billionaire of the world.

Another example of inborn entrepreneur is Mark Zukurburg, a founder of Facebook. He also got the position of billionaire from the age of 20 as Bill Gates. Zukerburg change the world of internet and provide a platform for people through largest social media.

Owner of Chick N’ Friends Inc., Rhodney Lloyd, done MBS from U.C. Berkeley. It was initial step for him to become a trained entrepreneur. After education he started his advertising agency in Oakland, Calif. He got entrepreneurships after got training.

Entrepreneur’s challenges: The problems and needs of entire population are enormous. From organizational inadequacies to corruption, environmental sustainability to security, transportation to communication and overloaded information to disease, the opportunities for people to develop a positive differential impact are vast. But entrepreneurs are persons who pursue and identify tremendous possibilities among needs, viable solutions among problems, and creative opportunities among challenges (Byers, Dorf, and Nelson, 2001). It is the quality of entrepreneurs to better cope with potential challenges for the long term success of their enterprises.

In concussion, entrepreneurs struggle to show a difference in entire world and support to its wellbeing. They mobilize resources, identify opportunities, and relentlessly committed on their visions and missions. Further, it is concluded from above discussion that good and successful entrepreneurs have both composition, innate qualities of entrepreneurship that help them to drive the any process to success, also they can learned these qualities through experience and training. For this reason it is concluded that “entrepreneurs are born and can be trained”. Many entrepreneurs have God gifted qualities to become good entrepreneurs while others enhance their qualities and skills through various types of learning and training. To develop experimental knowledge in entrepreneurs has great importance as incremental process during the entire working life. It means that tries to stimulate “actual life” experience via various modes of training and education are have a strong impact or influence on the creation or development of entrepreneurs (Higgins and Elliott, 2011)

Further, to learn the qualities of successful entrepreneur it is necessary for them to have good leadership qualities. These qualities support the entrepreneurs to accomplish the various difficult tasks and mission of enterprise. It is a challenge for entrepreneur to respond various difficult tasks and remain committed to undertake the needed enterprise. Therefore, I strongly recommended that training and formal education for entrepreneurs create positive differential impact in the field of entrepreneurship.

References

Byers, T. H., Dorf, R. C., and Nelson, A. J. (2001), “Technology Ventures from Idea to Enterprise”, New   York: The McGraw-Hill Companies, Inc.

Dess, G. G., Ireland, R. D., Zahra, S. A., Floyd, S. W., Janney, J. J., and Lane, P. J. (2003), “Emerging issues in corporate entrepreneurship”, Journal of Management, 29(3), pp. 351-378.

Ericksen, G. K. (2002), “The Ernst and Young Entrepreneur of the Year Award Insights from the Winners’ Circle”, the Earnest and Young,

Higgins, D., and Elliott, C. (2011), “Learning to make sense: what works in entrepreneurial education?”, Journal of European Industrial Training, 35(4), pp.345-367

Laser, S. A. (2007), “Are Entrepreneurs Made or Born?”, Stephen A. Laser Associates 200 South Wacker Drive,

McCubbrey, D. J. (2009), “Business Fundamentals”, Zurich, Switzerland: The Global Text,

McFadzean, E., O’Loughlin, A., and Shaw, E. (2005), “Corporate entrepreneurship and innovation part 1: the missing link”, European Journal of Innovation Management, 8(3), pp.350-372

Robbins, S., and Coulter, M. (2007), “Principles of Management”, 9th edition, Prentice Hall Inc,

Thornberry, N. E. (2003), “Corporate entrepreneurship: teaching managers to be entrepreneurs”, Journal of Management Development, 22(4), pp.329-344

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I hope you enjoyed reading this post on Entrepreneurs and whether they are Born and Not Nurtured. There are many other titles available in the business management and MBA Dissertation Collection that should be of interest to MBA students and academic professionals. There are many dissertation titles that relate to other aspects of business such as strategy, leadership, international business, mergers and acquisitions to name a few. It took a lot of effort to write this post and I would be grateful if you could share this post via Facebook and Twitter. Feel free to add your thoughts in the comments section. Thank you.

Innovation and Technology Usage on Business

What is the Impact of Innovation and Technology Usage on Business Management?

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The dissertation focuses on the impact of innovation and technology on business management. For this purpose, the pharmaceutical industry was targeted and specifically Pfizer was selected for the purpose of conducting the research. The company has created a solid reputation within the industry and thus a systematic approach of the mentioned key ideas on this individual business entity would provide a further insight on the matter. Thus, a brief summary of this whole scenario would be that Innovation involves using an idea more efficiently.

The significance of innovation and technology cannot be denied since it has resolved number of environmental and organizational challenges. For example, use of environmental instruments, energy technologies, innovation in products, organizations and processes etc. In present era, despite of innovation and technological advancements, many organizations are still suffering from low productivity. This research aims at analyzing the impact of innovation and technology on business management by examining the Pfizer pharmaceutical case study.

Innovation and Technology Usage on Business Management
Innovation and Technology Usage on Business Management

This has unfolded the findings which were helpful in generating results for the betterment of organization and formulating innovative strategies and processes. The research allows one to generate the difference between the two major aspects. Though, these two go hand in hand, yet they are dissimilar in many ways. The idea is evident from various examples such as innovative business procedures and technological advancements. Many believe that these innovative business decisions were created via technological advancements. Hence, all these aspects have been clearly mentioned in this dissertation report.

Dissertation Aims

  • To explore innovative strategies which are effective for pharmaceutical company (Pfizer Pharmaceutical) where, the main focus is on the pharmaceutical industry and how this particular company fosters innovation in order to become effective and efficient in its field of operations.
  • To formulate competitive growth strategies and find out their impact on business management which is the essential need of the moment. Many business organizations are suffering despite the fact that they are innovative and have various methodologies in order to become effective and efficient. Thus, this research aims to provide such companies with a chance to experience growth and create a perfect business environment for growth.
  • To analyse the impact of changing innovation and technology on business management in case of Pfizer pharmaceutical as it has been previously talked upon that technology is considered as one of the major indicators of change and allows a company to go beyond its true potential at a particular point in time.
  • To evaluate critically the impact of innovation and technology on business management keeping in view the Pfizer pharmaceutical so as to provide a clear idea regarding the impact of innovation keeping in mind a pharmaceutical company. This would allow others to learn the process of taming the beast which they call “Innovation” as they are eager to incorporate it to achieve a higher end.

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Business Dissertation Low Oil Prices

The Effects of Low Oil Prices: A Comparative Analysis of Saudi Arabia and the UAE

Business Dissertation Low Oil Prices: This dissertation attempts to explore the effects of low oil prices on both Saudi Arabia and the UAE, in light of the recent 2014 decline in oil prices that continue to decline today. Most significantly, low prices seem to deteriorate fiscal positions, put pressures on fixed exchange rates, hinder growth and cause worry as to the sustainability of oil-exporting countries.

This dissertation uses a mixture of literature and secondary data to present its findings, drawing upon the fact that Saudi Arabia should be of a higher focus due to the lack of economic diversification and foreign exchange reserves that exist in the region. Finally, this dissertation serves as an overall insight into low oil prices, briefly looking at historical instances with a clearer focus on the recent crisis. This dissertation will primarily use a historical comparative method in evaluating and analysing the effects of low oil prices on Saudi Arabia and the UAE.

Oil Prices
Oil Prices

This comparative analysis will consist of a considerable amount of examination of secondary data, due to the proliferation of data that exists on oil prices with specific reference to both the macroeconomic and microeconomics structures of Saudi Arabia and the UAE. It is noteworthy at this point is the “dismal state of economic statistics in the GCC in general, a situation that has been repeatedly lamented by the International Monetary Fund,” meaning that there has been a lot of theory on this subject area as opposed to concrete data that would portray the reality of the situation.

1 – Introduction

2 – Methodology

3 – Literature Review
The Rentier State and the Politics of Oil
The Resource Curse Theory

4 – Analysis
Oil Prices
2014 Oil Price Decline
Fiscal Policies
Exchange Rates
Economic Diversification
Politics
Entrepreneurialism

5 – Final Comments and Conclusions

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I hope you enjoyed reading this post on Effects of Low Oil Prices and how it affects the economies of Saudi Arabia and the UAE. There are many other titles available in the business management dissertations section economics dissertations section and  that should be of interest to MBA students and academic professionals. There are many dissertation titles that relate to other aspects of business such as strategy, leadership, international business, mergers and acquisitions to name a few. It took a lot of effort to write this post and I would be grateful if you could share this post via Facebook and Twitter. Feel free to add your thoughts in the comments section. Thank you.

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McDonald’s Global Business Environment

Global Business Environment Case Study McDonald’s

The Global Business Environment – McDonald’s Corporation is a fast-food international chain restaurant which incorporated on December 21, 1964 (McDonald’s, 2015). This global restaurant today operates and franchises in around 119 countries of the world. Around 4 million employees work for the company in its different restaurants and serve 70 million customers per day (Jhaveri, 2014). According to a latest survey in the year 2014, 17% of the fast food industry in the US is dominated by McDonald’s and it is the largest share in the industry. Yum! Brands (YUM) are the closest competitor with a market share of 11%.

McDonald's Global Business Environment
McDonald’s Global Business Environment

The uniform menu of McDonald’s consist of chicken sandwiches, Big Mac, hamburgers, chic nuggets, wraps, the quarter pounder with cheese, soft drinks, desserts, and other beverages. But as the company is into international business, the menu also includes locally relevant food stuff like the black and white burger in China, gazpacho in Spain, and the Veg Pizza McPuff in India (Jhaveri, 2014). The operations of all the restaurants of McDonald’s are managed by the Company itself or by franchises. The franchises are bounded by conventional franchise agreements and foreign affiliated markets under license agreements. The whole business of McDonald’s is subdivided into geographic segments including Europe, the United States, Asia/Pacific, Africa, and Middle East (McDonald’s, 2015). In addition, it presents Other Countries and Corporate, which includes operations in Canada and Latin America, as well as corporate activities. The multifaceted global environment does not complete without competitors. There are some strong competitors of McDonald’s like Pizza Hut, KFC, Burger King etc. All these competitors possess a long business history, remarkable market share, and a good brand image. To ensure its dominating position in the fast food industry, McDonald’s have to take into consideration the power of its competitors.

Global Business Environment of McDonald’s

Every business organization is strongly affected by its business environment. In case of global business, the analysis is usually done for the global business environment. McDonald’s is a big name in the fast food industry and thus the business sometimes gets swayed by the prevailing internal and external environment. There are several diversified tools and methods to analyze the business environment, but in case of global business the most appropriate tool is PESTLE analysis (Bruce, 2014). It considers Political, Economic, Social, Technological, Environmental, and Legal factors of the organization.

Political

The rules and regulations of the government and the policies of the state always affect the business operations of the organization. The business scenario of McDonald’s is also no different. The laws of every nation influence the business operations of McDonald’s and some of the major issues include food business norms, employee laws, license, and tax issues. The franchise business strategy of McDonald’s gets influenced by the foreign investment policies and local government policies as well.

Economic

One of the vital issues of majority of business organizations is the economic factor. Primarily, most of the organizations try their level best not to get affected by the ongoing global fiscal crisis. In different countries of the world, McDonald’s generally faces diversified kinds of revenue measurements and taxes. Owing to the fluctuations in the international currency, the company has to face tough times dealing with economic balance. Not only global, but local economic condition also affects the business operations of McDonald’s.

Social

There has been lot of transformations in the living style of people and all these transformed demands affect the business operations of McDonald’s. Customers ask for highest quality service with all the modern facilities. Furthermore, transformations in the demands of the customers vary from nation to nation and from religion to religion. So, in order to fulfill the demands of the customers, McDonald’s has thoroughly researched the market and provided effectual food menu to all its customers.

Technological

To meet the expectations of the customers, the impact of technological advancements is also considered these days. Also, to sustain successfully in the competitive market, the company always ensured that adequate and influential technological access must be there to attract more number of customers as compared to its competitors. Some of the advanced and competent technological facilities provided by McDonald’s include customer retaining equipment, speedy and modern distribution channels, quick and easy payment options, wireless internet facility and the company is endeavored to augment more number of facilities within its stores.

Legal

To run smoothly every business operation, following legal rules and regulations is a kind of mandatory task for the company. McDonald’s follow the same by paying taxes, stuff laws, following health and safety rules. The company also food authorization rules in some Muslim countries and care about the perceptions and religious beliefs of the customers. As a giant fast food chain, the company believes that abiding legal laws will intensify their public image.

Environmental

In some past incidents, McDonald’s has faced criticism for using non-biodegradable substances for its drinks glasses. Also, some environment activists have targeted the company for using Styrofoam containers for meals and packaging items based on polystyrene. It is seriously discouraged for the greater interest of environment issue.

Conclusion

For the last many years, McDonald’s has become the first choice of especially kids and youngsters as a fast food company. The company has responded very well to the transforming the global business environment and turned out to be a dominating market leader and a pioneer of the Quick Service Restaurant. McDonald’s has efficaciously achieved heights of success in the fast food industry. The company has always given priority to its customer service quality and listened to the choices and preferences of the customers. McDonald’s as a renowned brand has already offered and kept the company ‘ahead of the game’ in the ever-escalating competitive business industry.

References

Bruce Horovitz (May 18, 2014). “McDonald’s testing seasoned fries” The Global Business Environment USA Today

Jhaveri, Amit. 2014. Must-know: A Company Overview of McDonald’s and The Global Business Environment

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Leadership Assignment

Leadership Assignment

Leadership: It is the process in which an individual leads a group of people or an organization by influencing them with the same notion to attain a common goal. We can also define leadership as defined by Theo Haimann as “Leadership is the process by which an executive imaginatively directs, guides and influences the work of others in attaining specified goals”.  The leader is at center of the group’s power structure and responsible for keeping the group together along with infusing life into it so that it can move towards its goal. Inside each every one of us there is a leader who is waiting for an opportunity to come out and lead it in an effective manner. A good leader is fully aware of his/her strengths and weaknesses. I would like to list down some of my strengths related to my personal leadership effectiveness –

  • Optimistic: I am highly optimistic person. I have the ability to think positive and look after the bright side of everything. It’s really important for the leader to lift the people of his/her group to the clouds instead of dragging them into mud. I seek out the positives in people and help them overcome their feelings of self-doubt which helps them keep motivated.
  • Confidence: Highly effective leaders know deep down inside their minds that they and their team can accomplish the work they set themselves for. Confident makes you motivated and helps you strive even in difficult times. In a group if the leader is confident about something, his followers will be too. I also possess this trait of confidence in me. I am always optimistic and confident about any work that I have to do because it helps me complete the work easily.
  • Self-Assessment: I believe I know my areas of strengths and weaknesses and it helps me to self-assess myself which is really important. A Leader should always be good self-judging himself and also others so that at every point of time, the leader has an idea that whatever he is doing is not wrong which would allow delegating to others who have those abilities.
  • Decisive: Basic duty of a leader is to make decisions. I personally believe I have that decision making quality in me. I am not afraid to make decisions and quick calls when circumstances require it. Once I make a decision I stick with it unless there is some strong particular compelling reasons for me to change it.
  • Supporting my Team/Group: I have worked in various teams as a leader. Be it in school or during my work term, I have always supported my team/group by making it safe to take risks, speak up or to tell the truth. Supporting your group by making this kind of environment always facilitate the group’s progress towards attaining the desired aim or goal.

Some of weaknesses include procrastination due to which sometimes I pay a lot attention to non-urgent work rather than concentrating on the urgent work.  Also the compulsiveness to complete one task while having the stress of all the other tasks at the same time has led me to think unkindly about the person or the circumstance. Sometimes I get too much occupied with work that I even don’t think about my personal life. This is due to the inability to say “No” to people who ask me for any kind of help or work. I also have this problem of overthinking sometimes. I care way too much about things than normally required.

Too leverage my strengths and to develop my weaknesses the best thing can be asking people around for the input and then deciding- what areas to work on. Asking people to give genuine feedback on what they feel about my abilities and weaknesses will help move forward in the right direction. I have always listened carefully whenever someone has given me feedback and I try to work on my weaknesses. I have to stop being procrastinating which will allow me to take on urgent tasks rather than taking on something I like. This will help me complete those urgent tasks first and then proceed on to other tasks. To do this I will make a task plan stating which tasks need first attention. The issue of compulsiveness can be solved by managing equally between the tasks. Even if I have multiple tasks to work on, I will not limit myself onto solving one task first; rather I will aim on completing each of them side by side which will eliminate any kind of compulsion and the effects after. Talking about overthinking, the best way to overcome this is self-satisfaction. I usually don’t get satisfied easily with anything which creates this problem of overthinking and over looking into matters which do not even require that attention. I believe all of the action plan discussed above will help me overcome my weaknesses. To grip on my strengths I will keep on working in the same leadership style and manner. To improve and gain new skills I will set specific life goals with timelines. The goals can be designed by moving backwards in time of your life to the present month. After setting up goals and deadlines next thing is to formulate the action plan so I can commit to that and it will help me achieve those skills. I will keep on educating and improving myself in every possible way. The person who thinks he is an expert in something, has a lot more to learn. Learning never stops. I aim to be receptive to others perceptions and information I get from people I meet daily. I am keeping my self-updated with any kinds of development in my field. As John F Kennedy once said “Leadership and learning are indispensable to each other.” So always learn and grow.

There are different barriers that can come up while implementing the plan we discussed above. We always fear of overstepping our boundaries and think that the response to our initiatives will be “Mind your own business”. Some of us are even afraid to get evaluated by others because of uncertainty about what people think of us. There are challenges that come from different sources, some being external and some internal (ctb.ku.edu).  External challenges usually include public criticism, financial issues, and hostility from powerful forces etc. whereas internal challenges come up from within the (leader) person. Internal challenges can include emotional intelligence which is defined as the ability to understand and manage one’s own emotions. If someone has a high degree of emotional intelligence then that personal know what their emotions are, what their emotions mean to themselves and to others, and how their emotions can affect themselves and others. To be an effective leader one should has strong understanding of his/her emotions so that emotions does not create any kind of barrier while leading a group. There are some other internal factors like impatience, lack of decision making ability etc. that can result in hampering the growth of the leader.

Leadership Dissertations
Leadership Dissertations

Values guide human actions and they are really important in understanding leadership as they explain the focus and directions of people’s actions (Katherine D, 2015). They may vary with culture but some of the values are fundamental like honesty, credibility etc. which fits all human beings uniformly. Demonstrating the values through appropriate actions enables leaders to build network and connection with their followers which helps in building the bond of trust and commitment. To satisfy followers, a leader has to connect with them and then values come into the play as values are the primary way in which that connection is made. Our values certainly influence every decision we make in our daily life. As values play such an important role, so it becomes critical to recognize, understand and evaluate these values in sound decision making. Some of the personal values driven by leadership are:

  • Perception of Decision: The personal value associated with a decision is the perception of considering it as successful or ineffective. As an example let’s consider a leader who thinks more about the people and environment will consider a decision to invest in community and environment in contrast to the leader who thinks about company’s annual profit will make decision that favors statistical performance. The thing that matters is value associated with the decision making.
  • Loyalty and Trust: If someone is loyal and trustworthy then this personal value of that person helps to remain committed and loyal with anyone that persons works for. If a group is made of members who are loyal to each other and trustworthy then that group is effective in terms of achieving the final common goal. I personally think being loyal and trustworthy has helped me get many lead roles in the organization I work. Being someone whom your management can trust can surely help that person attain leadership roles.
  • Vision stimulation and inspiration: If a leader has a vision setup in his mind regarding the goal of his team/group, the personal value is inspiration and motivation to others. In order to get employees passionate about what they are doing, leaders have to possess great energy so that they can spark excitement and achieve results. (Katherine D, 2015). According to Peter Ernest, CEO of Values Journey, “when a truly values-based leader ensures that his organization has an engaging process for the people to explore their personal values, as well as their teams’ and the organizations’ values, there are benefits on many levels”.

To understand the behavior of people there are few variables such as attitudes, motivations, personality, skills, knowledge, confidence, perceptions etc. The importance of a value system is that once internalized it becomes, a standard or criterion for guiding one’s action. Thus the study of leaders’ values is extremely important to the study of leadership (Bruno F.C, 2006). Personal values impact leaders in at least two ways one out of which is it acts as a perceptual filter that shapes decisions and behavior, and personal values act as a driver of leader’s methods of creating these values.

Heroic Management versus Engaged Leadership

After reading the article by Mintzberg, I have a clear understanding of the differentiation between a heroic manager and an engaged manager. Let’s first start off talking about heroic managers. To manage is to make decisions and allocate resources and it often involves analyzing and calculating. In heroic management, the managers are considered important people which are quite apart from all those who develop the products or deliver services. As these managers go higher up, they become more important part of the organization and at the “top” of the organization is the chief executive. They have a clear, deliberate and bold strategy and the chief is the one who takes the dramatic steps that drive up the share price. Everyone else implements the same. But this is the time when the problem comes because although chief embraces change, most of the other people resist it. This is the reason to favor contractors or consultants over the insiders. The rewards for increase in the share price go largely to leader and the risk taker who pays no penalty for drops in the share price. According to a recent survey, “Executive Excess 2001,” conducted during the 1990s by the Institute of Policy Studies, CEO pay rose by 570%, while profits rose by 114%, and average worker pay rose by 37%, barely ahead of inflation (Anderson S. 2001). Real leadership is often more quiet than heroic. It is about teamwork and long term goals, which builds an organization slowly and collectively.

Let us talk about Engaging Management and leadership. According to Mintzberg, in this type of leadership managers are important to the extent that they help other people be important as well. Managers understand the importance of other employees in an organization and they create engaged teams. An organization is not a vertical hierarchy rather an interacting network where effective leaders work throughout and not sit on the top. People who develop the product or deliver the services solve little problems using strategies that later merge into new initiatives. In this type of management formulation and implementation go side by side and cannot be separated. The managers involved in this type of leadership style believe in bringing out the energy that exists naturally within the people thus making it more engaging and inspiring. According to a study conducted by Gallup, just 35% of the US managers are themselves engaged while 51% are not engaged. The not engaged group costs US $77 billion to $96 billion every year through their impact on those they manage (Gallup, 2015).

I work for a multinational oil and gas company. My organization has both types of managers and the management style. I will talk about my department and the managers I deal with. My manager use engaged type of management. They provide intensive feedback and training to new employees and proactively manage the onboarding process making a positive first impression. They communicate with their staff in a clear manner. Many of us prefer on having informal conversation with our supervisors regarding performance reviews or feedback which not only helps us keep involved with the team but also helps in performing the job better and easily. The engaged managers know that they are held accountable for the performance management of their employees. When employees are not meeting expectations, these managers listen to their employees and make suggestions from the vantage point of their professional capacity that will help them overcome their problems and difficulties (Insightlink.com, 2015). Being a part of the organization and led by such managers gives me chance to be effective during my work and it keeps me motivated and confident. Engaged employees are builders of an organization.

The two types of leadership styles impact on employee morale and performance. When an employee joins an organization he/she wants to know the role and their expectations which are desired by the supervisor/manager. It helps them meet their objectives and exceed them. Engaged management with the employees help them perform at consistently high rates. This also helps them use their talents and skills in the right direction. Hence the employees work with passion and drive innovation to move the organization forward (Govleaders.org, 2015). This different leadership styles sometimes also lead to participative approaches during projects. In this the employees working on a project in a team take part in decision making which gives them a chance to develop their leadership skills as well. Managers also have to challenge employees within their areas of talent and help them to acquire the required skills and knowledge which later can be turned to their strengths.

The strategic leadership of an ethical behavior in business practices cannot be ignored. To be considered a leader in ethical business practices I believe my organization can follow the points below –

  • The goals of creating and sustaining ethical climates within which employees act ethically as a matter of routine should be included in the strategic leadership responsibility for business executives.
  • Secondary stakeholders may be viewed with more urgency by executives than primary stakeholders. The government can shut down a business in a matter of hours; it takes much longer for disgruntled customers to have such a drastic effect (Terry Thomas, 2004).
  • Special attention should be paid in finding and developing the best people as it involves taking ethics and character into account in the selection process.
  • There should be a conversation across all levels of the business where the basics of value creation, stakeholder principles and societal expectations were routinely discussed and debated.

I think organizations should start establishing new standards and best practices that everyone can enjoy, learn from and improve along the way. The new workplace is less about the business defining the individual and more about the individual defining the business. The point noted above should also be taken into account towards an ethical behavior in the business practices.

Organizational Ethics

 “The Corporation” movie revolves around the notion of limited liability and corporate social responsibility. It also shows the development of corporation as a legal entity and is an attempt to assess the “personality” of the corporate person. The film is based on the argument that – since the corporation has been given the rights of a legal person, we can evaluate what type of person it is. I work for an oil and gas corporation. My organization has its own culture where everything related to health, safety, environment and production growth is taken care of. The corporation movie revolves around the concept of corporate social responsibility and I will discuss what my organization has done for the same. My organization is committed to partnering with community members and other stakeholders in the areas it operates. A long term trust is built by sharing information, consulting with stakeholders about business decisions and working collaboratively to understand their needs and expectations. Now limited liability is the type on investment in which the investor/partner of any organization cannot lose more than invested amount. Even my organization has the same notion in which there is limited liability benefit that is given to all the organization’s partners or investors. So they are not afraid to suffer with any kind of loss.

Code of ethics is a kind of policy statement or a properly framed code in which the organization forms and issues a set of guidelines to its employees to help them conduct their actions properly. My organization also has an integrity work guide stating its code of ethics. Some of them are:

  • Respecting each other and Environment: As my organization deals with the production of oil and gas, special concern is given to the environmental safety. My organization believes in respecting its employees, stakeholders, customers and most importantly the environment. In respect of this, the organization ensures that emergency response capability is in place and is tested for all company operations and facilities. Everyone is open to different points of view and approaches while doing things and seek to understand and value each other’s perspectives.
  • Confidentiality and Privacy: As any other organization, mine also respects confidentiality and safeguards intellectual property. Sensitive information outside of organization is shared only with authorized parties who have signed an appropriate confidentiality agreement.
  • Accuracy: Ensuring accuracy and completeness of business records helps us make informed business decisions and allows us to meet our responsibilities to our stakeholders. There is proper disposal of business records according to policy and legal requirements; no undisclosed or unrecorded amount is maintained.
  • Secure Work Environment: My organization believes in protecting the assets and maintaining a secure work environment. All the movement of company’s equipment, its materials and inventory is tracked and reported accordingly. The organization is responsible for the security of all its employees and workers.
  • Avoiding Conflicts of Interests: Trust is important to every successful business relationship. To manage the conflicts of interests my organization discloses any situation that could be perceived as potential interest conflict.
  • No Bribes: A direct or indirect offer of anything of value like money, gifts or advantage of any kind is prohibited. My organization complies with international anti-corruption laws even when bribery may appear to be an accepted part of local business practice. Reasonable steps are taken to avoid making indirect payments to government officials, other employees and also customers.

The code of ethics reflects about an organization and if there is any failure in code of ethics it means that there is a failure in leadership as well. An organization always tries to create and define a logical and defensible code of ethics but it’s not easy to cover all the possible scenarios. The process of identifying an ethical problem and defining the facts and resolving organizational, interpersonal and professional conflicts that arise are instrumental in giving organizations ethical leadership credibility. When a system fails to adequately address legitimate employee concerns whistleblowing may occur (ispub.com, 2015). Leaders and employees adhering to a code of ethics create an ethical organizational culture. When leaders have high ethical standards, it encourages workers in the organization to meet that same level. Ethical leadership also enhances the company’s reputation in the financial market and community (smallbusiness.chron, 2015).

Sometimes organizations face some challenges while shifting or enhancing the social responsibility. One main problem that usually comes up is growing consumer skepticism. Consumers now recognize that for many organizations, social responsibility is simply a public relations campaign in disguise. They are skeptical about the true motivation behind corporate social responsibility and are not easily convinced that a business is acting in the best interests of the community and environment (toolkit, 2015).

After filling the survey on code of ethics, I came to know about a noticeable fact that 51% of the people say their organization currently does not have a code of ethics. And 62% people lack of know-how which they feel to be a barrier in creating code of ethics. An implication for my role in my organization is to have an ethical behavior among workers in the organization that ensures that employees complete work with honesty and integrity. I use ethics to guide my behavior, also referring to the organization’s work guide that adheres to employee policies and rules while striving to meet the goals of the organization. Ethical employees also meet standards for quality in their work, which can enhance the company’s reputation and also helps in responsible development.

Summary

There is a conventional wisdom that management and leadership go hand in hand, that every manager is (or at least should be) a good leader, thus leadership in management has been taken up as a cause to be promoted, and leadership as a word has become a mantra chanted by all. One should understand his/her own strengths and weaknesses to become a successful leader. The strengths should be changed to skills and the weaknesses should become strengths. I have learnt that to be a successful leader, one should have the ability to delegate and it’s also important to trust your team with sane vision and goal which will eventually help to take progress to the next stage. I have also learnt to be optimistic, confident and decisive. Personal values and ethics guide leadership and human actions and they are really important in understanding leadership as they explain the focus and directions of people’s actions. Talking about Heroic and Engaged management I learnt that a proper blend of both kinds of leadership and management style can help in getting out the best from the employees. They have an impact on employee’s morale and performance; implementing these styles properly can not only help employees give their best but also help them exceed their objectives. Heroic leaders set an example of discipline whereas the engaged keeps the morals of the team high and keeps the team members cohesive. While working in a team, one should listen to the ideas or point of views of the other team members. Although different arguments might lead towards conflict, but a real team leader listens to all the members unbiased and then makes a final decision which is favorable for the whole team. I have learnt that emotions also control the style of leadership. That is why it is worthy to keep a happy environment and a positive attitude in the team as well as in personal life.

Talking about the code of ethics, it is really important for every business as it guides all managerial decisions and is common framework upon which all decisions are taken. It also helps in creating a cohesive understanding within an organization and also with stakeholders and customers. Code of ethics is used by many companies to prohibit any inappropriate employee behavior which compromises company’s policies and standards. Code of ethics can help employees understand what inappropriate actions are and what they are accountable for.  Not only this, code of ethics build trust between the organization and its employees. Let’s now discuss the barriers towards more corporate socially responsible behavior. The common one being Lack of stakeholder awareness which is due to the lack of ethical awareness that keeps the stakeholders uninformed about CSR implementation. Also sometimes there are financial constraints due to lack of financial support from the upper level management. Due to this organizational managers find that implementing CSR does not fit their budget. Sometimes company culture also becomes the barrier as some organizations rely on old company culture and are resistant to new strategies (Duarte F, 2015).

References

Ctb.ku.edu,. ‘Chapter 13. Orienting Ideas In Leadership Section 6. Recognizing The Challenges Of Leadership Main Section  Community Tool Box’. N.p., 2015. Web. Sept. 2015

Katherine D. (2015). Values Based Leadership – Valparaiso University’. N.p., 2015. Web. Sept. 2015.

Bruno F.C (2006). Personal Values and Leadership Effectiveness.

Anderson, J. Cavanagh, C. Hartman and B. Leondar-Wright, “Executive Excess 2001” (Washington, D.C: Institute for Policy Studies, 2001), 1

Gallup (2015). Gallup, Inc. ‘Only 35% Of U.S. Managers Are Engaged In Their Jobs’. Gallup.com. N.p., 2015. Web. 2015.

Insightlink.com, ‘The Nine Habits Of Highly Engaged Managers Insightlink Communications’. N.p., 2015. Web. 2015.

Duarte, F.P.; Rahman, S. Perceptions of corporate social responsibility by Bangladeshi managers: An exploratory study. Int. Rev. Bus. Res. Pap. 2010, 6, 119–136.

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