Leadership in Business for Management Company-myassignmenthelp

Question: Discuss about theLeadership in Business for Management Company. Answer: Leadership Style I am working as an assistant manager in one of the startup management company. I have three teams which are working under me. There is one team leader and one assistant team leader for each of the teams. Each team has 12-15 employees and they are very hard working and contribute for the development of the company. As startup companies are facing steep competition, it is very difficult for me as an assistant manager to manage and handle all the employees and work further for the development and profitability of the company. I need to motivate the employees so that they can work better and feel inspired to contribute more to the company. The team leaders of the company also co-operate with me as well as the employees to solve the problems of the employees as well as the management and work for further development. Suddenly there was a clash between the two teams (Tyssen, Wald Spieth, 2014). The targets of the teams were not fulfilled and the employees had to face too much pressure. Th e staffs and the employees faced difficulty in selling the product and the customers were not willing to purchase them because the product was out-dated. The other companies which sold similar product used updated technology and tools. The employees were inspired to contribute their ideas for the development of the product in a low cost and less time frame. As the company did not have sufficient amount of money to modify its product, the employees had to convince the customers in such a way that the customers are willing to buy the product. The employees of team two found out cheap ways to modify the product and they approached me to assist them with their ideas. I happily agreed to help them and thus under my leadership the employees performed well. The sales and profitability of the company also increased. The management was happy with the performance of the employees and thus the problem was solved. The company was also able to compete steeply with the other competitors and thus the employees were also rewarded for their contribution (Tyssen, Wald Heidenreich, 2014). I have applied transformational leadership style. Transformational leadership is associated with bringing changes in the organization, oneself, groups and others. When the sales and profitability of the company was drastically falling and the company cannot face steep competition, I have consulted the team leaders of the company to find out innovative ways which will help the company to improve. The team leaders consulted with the team members and also analyze the needs and demands of the customers so that they find out alternative ways to bring changes for the development of the company. I, as an assistant manager of the company had to motivate others to perform better than they originally intended (Clarke, 2013). I had set some challenging expectations from the employees to achieve higher performance. Transformational leadership also requires committed and satisfied followers. The employees of my company gave different ideas for the development and they needed my guidance to perfor m better. I provided them full support and thus they performed better and improved the sales as well as the profitability of the company. Moreover, as a transformational leader, I also need to understand the emotions of the employees and inspire them to reach the improbable. I also had to support them and provide them the necessary recognition as and when required. The employees were so innovative and active that as soon as they realized that the sales and profitability of the company decreased, they took further initiative for the development and betterment of the company. In transformational leadership, the leaders and the followers inspire and raise one another to higher levels of innovation and morality. The same was also followed in my case. Moreover, I also guided the employees with a sense of challenge and meaning. I had to work optimistically and enthusiastically for fostering commitment and team work among the employees (Breevaart et al., 2014). I have encouraged them to be innovative and creative. The employees were encouraged for their new ideas and they were never criticized publicly for their mistakes. As a leader, I had to focus on the problems and not only on blaming them. I had to find out relevant ways to solve it. Moreover, I also need to check that there was no hesitation in discarding the old problems. I had to act as a role model so that the employees can emulate. The employees also had to sacrifice their personal gains for the development of the company. As the leaders are regarded as mentors to their followers and they ate rewarded for their creativity and innovation. The employees are also treated differently for their knowledge and innovation. The employees are always allowed to take their decisions and thus they are provided with the needed support to implement their decisions accordingly. I also had to monitor the works of the employees and watch whether they deviate from the standards and norms of the comp any. The team leaders of the company must also take corrective actions to prevent the employees from doing mistakes (Wahyuni, Christiananta Eliyana, 2014). As a transformational leader, it is my duty to intervene when only when the standards or norms of the company are not fulfilled. As the sales of the company were drastically falling, the employees were encouraged to contribute their creative ideas so that the company can develop within a small budget. Some ideas which were taken by the team leaders did not help because the company was Startup Company and it did not have sufficient fund for adopting or bringing any changes in the products immediately. It was not possible for the company to change the product completely. Sometimes, in such cases as it was not possible to change the product completely or bring any new improvement or changes in the existing product, the company must expand its business in other lines as per the demands of the customers (Odumerun Ogbonna, 2013). Leadership Style When I was the employee of the company, I had to follow the rules and regulations which were framed by the management as well as the team leaders. There was heavy pressure as the employees had specific targets to sell the products. I was awarded with certain awards as I had performed very well within the first six months of my joining. I also had contributed several awards for the betterment and development of the company. When I was promoted as the team leader, I had to manage the entire team of 20 members and solve their problems. There was pressure as the sales and profitability of the company was declining and I had to assist the team members. I was awarded as the best team leader among the three teams. When I was promoted as the assistant manager of the company, I had to handle the three teams as well as look after the management of the company. I was given the responsibility to check the performance of the employees on a weekly basis. As the sales and profitability of the compa ny was drastically falling, I was put under pressure to motivate the employees so that they can influence the customers to purchase their products (Dumdum, Lowe Avolio, 2013). I was involved with the company from the initial stage. As the company grew and expanded there were several challenges which had to be faced by the company as well as the team leaders for further improvement. I was dedicated in my job role. When I was the employee of the company, I performed my duties very carefully. I also contributed several ideas for the development of the company and was awarded at different times. I took careful note of the sales and the profitability of the company and found out innovative ways for further development of the company. As the company was a startup company, it did not have sufficient fund to renovate its products and services. I had to find out easier and cheaper means so that the company can develop within a short span of time (Epitropaki Martin, 2013). As I was promoted as the assistant manager of the company, it was easier for me to assist the employees and monitor them on a timely basis. I can carefully observe the employees and ask them to deliver their ideas so that they can work for the development of the company. I must only keep a careful watch of the employees and ask them to work for the development of the company. I do not need to contribute or assist the employees but keep a track of the employees performance. As a transformational leader, it is also necessary to link the goals with the rewards and thus clarify the expectations. It is also necessary to monitor the work of the subordinate employees. It is also necessary to provide such an environment where the employees get many opportunities to take their own individual decisions. As a leader, it is my duty to check all the responsibilities and avoid making important decisions. The transactional leaders are often found to be effective in guiding the efficiency decision a nd thus this helps in reducing cost and improving productivity (Hamstra et al.,2014). If I found myself in the similar situation, I would not take more responsibility than this. I will put pressure on the employees to perform their duty and thus contribute for the development of the company. As a transactional leader, it is also important to take visionary position and also inspire other people to follow them. I would play the role of transformational leadership in different situation. In certain cases, I can also be a transactional leader and respond to different situation in a responsible manner. It is also necessary to maintain the organizational culture while working in the organization. As a transformational leader, it is necessary to motivate the employees so that they can achieve the target of the company. The employees must also be encouraged to transcend their own interest for the group. Though the transactional style of leadership is viewed insufficient but in certain cases this leadership is followed and preferred by all the leaders. This type of leadership also helps in creating interaction among the employees and thus it will benefit the company as well as the leader (McCleskey,2014). References Breevaart, K., Bakker, A., Hetland, J., Demerouti, E., Olsen, O. K., Espevik, R. (2014). Daily transactional and transformational leadership and daily employee engagement.Journal of occupational and organizational psychology,87(1), 138-157. Clarke, S. (2013). Safety leadership: A meta?analytic review of transformational and transactional leadership styles as antecedents of safety behaviours.Journal of Occupational and Organizational Psychology,86(1), 22-49. Dumdum, U. R., Lowe, K. B., Avolio, B. J. (2013). A meta-analysis of transformational and transactional leadership correlates of effectiveness and satisfaction: An update and extension. InTransformational and Charismatic Leadership: The Road Ahead 10th Anniversary Edition(pp. 39-70). Emerald Group Publishing Limited. Epitropaki, O., Martin, R. (2013). Transformationaltransactional leadership and upward influence: The role of relative leadermember exchanges (RLMX) and perceived organizational support (POS).The Leadership Quarterly,24(2), 299-315. Hamstra, M. R., Van Yperen, N. W., Wisse, B., Sassenberg, K. (2014). On the perceived effectiveness of transformationaltransactional leadership: The role of encouraged strategies and followers' regulatory focus.European Journal of Social Psychology,44(6), 643-656. McCleskey, J. A. (2014). Situational, transformational, and transactional leadership and leadership development.Journal of Business Studies Quarterly,5(4), 117. Odumeru, J. A., Ogbonna, I. G. (2013). Transformational vs. transactional leadership theories: Evidence in literature.International Review of Management and Business Research,2(2), 355. Tyssen, A. K., Wald, A., Heidenreich, S. (2014). Leadership in the context of temporary organizations: A study on the effects of transactional and transformational leadership on followers commitment in projects.Journal of Leadership Organizational Studies,21(4), 376-393. Tyssen, A. K., Wald, A., Spieth, P. (2014). The challenge of transactional and transformational leadership in projects.International Journal of Project Management,32(3), 365-375. Wahyuni, D. U., Christiananta, B., Eliyana, A. (2014). Influence of Organizational Commitment, Transactional Leadership, and Servant Leadership to the Work Motivation, Work Satisfaction and Work Performance of Teachers at Private Senior High Schools in Surabaya.Educational Research International,3(2), 82-96.