Leadership and Governance

Question: Discuss about theLeadership and Governance. Answer: Introduction Leadership in the modern business world constantly challenges leaders of organizations and their abilities. Most famous leaders used to face challenges that rise themselves to another level. These challenges usually test leaders and help themselves in improving the skills that will contribute to accomplishing the predefined goals set by individuals or organizational goals. The essay focuses on challenges of leadership faced by modern managers of organizations. There are different types of problems that can be categorized into three groups such as external, internal and individual leadership challenges. Apart from the challenges, many issues in leadership are discussed in the essay such as factors that are responsible for creating problems among leaders in their field of their operations. Recommendations to the leaders of different organizations are also provided to cope up their situations in the challenges of leadership. A period of instability or a change is witnessed by the leader s when they implement new strategies in their teams or organizations. Despite formulating new strategies, theoretical frameworks are also described that will help managers in coping up with situations that are creating a negative impact on the team. Many reasons have given birth to many challenges to the leaders of the world. The fundamental premises of leadership in the business world at its core will never change. Leaders are present since from the ancient period. There is a need for individuals that are responsible for encouragement, motivation, and inspiration of the team members that are working together towards a common objective. However, the working environment where leaders and workers are expected in accomplishing the goals has transformed in recent years. They need to cope up with the changed environment to navigate the modern business competitive world (Christensen et al., 2014). Lack of keeping them with technology, changing demographics and globalization, poor understanding of motivations and customer needs, and inefficient choice and information availability are the reasons of challenges of leaders. At lightning speed, technology is developing and utilizing it in business mechanisms. The technologies and latest to ols that had evolved a few years ago are now obsolete. Business leaders find many difficulties while keeping themselves updated about every change. Otherwise, they have to face problems in team management. Young team performers are trained in the usage of different technologies. It is necessary for the leaders to have a clear understanding of the various methods of business operations. The Internet has opened the doors of many global business opportunities in different sectors. The increasingly global nature of the economy, i.e. introduction of free trade has helped multinational companies to penetrate untapped markets. Leaders who are not aware of the updated economic growth are bound to have lacked knowledge. They will face problems in managing their teams. However, there is a massive shift of demographics are prevalent in many countries. Spending nature and disposable income of generation Y are increasing day by day. For increased productivity, all the external factors are needed to be understood for proper team management (Singh, 2015). In many cases, odd choices and information may misguide leaders for choosing their form of leadership in a particular team. It is one of the reasons of facing leadership challenges. Apart from having different external issues of management, many internal aspects are causing hindrances to leaders in practicing their form of leade rship. Companies are focused on the productivity. Apart from these activities, organizations must focus on the benefits of the employees. It would result to effective team performance. The nature and mindset of employees are the factors of leadership issues in organizations. Without having proper knowledge about the characteristics of the team members, leaders cannot lead his team properly. Lack of communication is the cause of the main issues within the team. Communication problem can also result in a lack of understanding of the needs of the customers (Chhokar et al., 2013). Miscommunication with the different departments of the organization will lead to improper guidance to the team members There are different types of challenges that leaders of organizations are witnessing in their daily official activities. The problems can be categorized into three groups such as external, internal and individual reasons. Apart from external challenges of leadership is the result of external market issues such as forces from the opposition, interpersonal problems, lack of funding, etc. however, there are other factors of political, social and economic factors that can affect organizations in a larger perspective. A success of a leader depends on the ability of handling issues both inside and outside the team i.e. major and minor annoyances. A successful leader will be able to handle every issue with constant succession with taking advantages of the opportunities (Camm, 2016). There are some situations where leaders face external challenges in practicing leadership in the teams. When something new thing is about to start is one of the causes of a rise of external challenges. It goes w ith when things are ending. Another reason includes tough times and in transitions. Beginning of a new intervention or trying something different in a module lead to problems among the team. Lack of communication among the team members leads to lower productivity and acceptance of new approach. Relationships and systems break without the guidance of a proper leader (Frost, 2016). However, if a new system is introduced in an organization, then at the time of conclusion a close knit is required. Many times, it is missing. Leaders usually are known for its problem solving and excellent leadership skills. Followers and team members in tough situations expect their team leader or other leaders of the firm to address the problem. The ways in which usually a leader solves severe cases in hid a field of operations are defusing attacks, reducing expenses, proper investment of money, etc. Crises, public criticisms, opposition from powerful forces, flare up in the field of others interpersonal skills, political or financial windfall and collaboration are the lists of external leadership challenges faced by global leaders. Internal challenges include lack of decisiveness, the inability of being objective, the failure of directing others, defensiveness, insecurity, etc. The team members may feel uncertainty about the task they are delegated by the leader (Pechlaner et al., 2014). In many cases, it is very hard for a leader in the decision-making process. Many factors affect the decision making process. Irreversi ble decisions cause adverse impacts on the subject matter of the decision. Real leadership can create the positive effects on people both in organizations and in society as a whole. Sometimes, leaders are failed to motivate people despite providing motivation to its followers. Apart from this, it is also necessary to drive the head so that he can perform the duties and responsibilities in a responsible way. There are many role models of leadership which are followed by executives of companies that help them in solving the challenges of the organizational level (Ramirez, 2014). Many theories of leadership are implemented by corporate leaders in their firms to develop the minds of people resulting in increased performance of the project. The principles of leadership that are described in the essay for the benefit of the managers are Great Man Theory, Trait Theory, Behavioral theories, transactional leadership theories, etc. Great Man theory is a type of leadership theory that is evolved in the 19th century. Earlier it was not identified scientifically that combination of human characteristics is responsible for identification of exceptional leaders. As the name of the theory suggests, the features or traits of a person are intrinsic. They are inborn characteristics. According to this theory, leadership qualities are born from the time of birth. The theory of Great Man is proposed by Thomas Carlyle. Herbert Spencer in 1860 added some propaganda to the theory that leads it to a new dimension. Another theory is trait theory (Ofoegbu et al., 2013). As per the th eory, human beings either born with some specific traits or they can gather few features that will help them to excel in the field of leadership. Creativity, sense of responsibilities, intelligence, etc. are the characters that will encourage a person to put in the shoes of an exceptional leader. The theory emphasizes on analyzing physical, mental and social characteristics while gaining a deeper understanding of patterns and traits that are already present in a successful global organizational leader. Behavioral theories usually focus or emphasize on the behavioral characteristics of a person. The behavior of a person depends on many factors such as mental, social or physical characteristics. However, with the invention of psychometrics, behavioral psychologists can analyze the features by factor analysis (Gentry Eckert, 2012). It can help in enhancing the effect of relationship on particular traits of human beings. As per this theory, leaders are made not born. Another theory of Transactional leadership emphasizes the relationship between leaders and the followers. The transaction between leaders and followers are Modern managers can apply these methods in their workplace based on their needs. It illustrates a theoretical framework that values mutually beneficial and positive relationship. The theories of transactional leadership are found to be very effective. It results in the provision of benefits of high motivation (McCleskey, 2014). Here, the leaders at the organizational level find a way to encourage the followers. They have to customize the theoretical frameworks according to the needs of the organization. However, the transactional leaders are proven to be more efficient as they develop an environment of mutual reinforcement to accomplish the goals of the organization (Miner, 2015). The theorists of transactional leadership style stated that in general human beings are seeking in maximizing the good experiences while diminishing up the unpleasurable experiences. An associated theory of Leader-member Exchange theory (LMX) is related to the transactional method. Three stages are developed in LMX theory are an organizational stage, role development, and leader- led relationship (Das, 2015). Managers and executives of multinational corporations in many perspectives face many issues in managing teams and their performances. The theoretical models of leadership on its implication will help the managers to solve the problems from the base. Team members or the followers of the leaders must have an exceptional relationship with the leaders. On following theories of transactional leadership in the practical field, the executives of the firm will be able to resolve the conflicts between the followers and team leaders (Solansky et al., 2015). Proper customization of the theoretical frameworks of Great Man theory, behavioral theories, and transactional theories can yield to solve the challenges faced in the perspective of leadership in multinational corporations. It can also be used in small, medium enterprises and other societal leaders in the development of the community as a whole (Arnold Loughlin, 2013). External challenges of leadership can be mitigated by being creative, proactive, facing conflict squarely, retaining objectivity, looking for common ground, opportunities for collaborating, etc. On the contrary, internal challenges can be solved by listening, asking for 360-degree feedback, looking around you, reaching out in facing the internal challenges. The only deficit of leadership is improved by sharing the burden, taking time for the person, mutual support with one another, creating mechanisms for reviewing the vision (Washington et al., 2014). Apart from that, leaders can develop many leadership skills that will help in practicing an effective form of leadership in the particular organization. Among the different type of leadership styles, participative, democratic and situational leadership can be used that will help in the development of employee relations in an organization. Participative leadership will help in the inclusion of the team members in the decision making pro cess (Kumar et al., 2014). Ultimately, it will lead to more cooperation among the leaders and the followers. It will also enhance the corporation to support innovation among the employees. Innovation is the vital aspect of differentiation among the available products and service in the market. Innovation is practiced by most of the famous companies in the global market to create an innovative effect in the market. Leadership is indirectly related to many parts of the business operations. Situational leadership is the most traditional form of leadership that is used by famous leaders to solve the issues of the organizations they are associated in. It is a command that changes according to the nature of the situations (Burris et al., 2013). The information about the challenges of leadership and the factors that hinder global leaders to perform their work in their workplaces is very useful for managers and other executives of companies. Leaders are present not only in organizations but also in society as a whole. The essay will help different types of leaders to identify their weaknesses. Every person has both pros and cons. great personalities sometimes need to motivate themselves to encourage leadership among the team (Tyssen et al., 2013). Many organizations are successful in the marketplace in developing and promoting leadership among the junior and senior executives. The information that is provided in the essay covers many topics of leaderships that are vital in the practical field. Challenges that are described in the article will help potential leaders to avoid the mistakes in their daily work. Many types of factors that are responsible for creating hindrances in the field of leadership in organizations (Spector, 2014). Both social and organizational leaders will be benefitted by avoiding themselves from the occurrence of the common mistakes of leaders. The overcoming challenge is a vital aspect that leaders must accomplish to achieve success in the organization. The argument that is raised at the global level regarding problems and issues of world leaders are explained in this study. Suggestions are provided to the organizational leaders for improving their performances and encouragement of leaderships in the firms they are associated into (Avolio Yammarino, 2013). Information is provided on the global level so that they will be able to gain a thorough understanding of vast arrays of issues on a global scale. The essay is about leadership practices and its challenges faced by organizational leaders. The study describes an array of topics related to the failure of leadership practices by many leaders in organizations. Types of problems along with the factors of causing the issues are discussed in an elaborate manner. Thorough research on the various topics of leadership is explained in the perspectives of theoretical models of leaderships are mentioned in the essay. Managers of enterprises on the proper implication of theoretical frameworks of leadership will help in the improved performance of individual as well as in groups. Finally, it will assist the firm in developing leadership not only in the senior level of managers but also among the junior level of employees. Recommendations are also provided to the leaders apart from theoretical models to cope up with the situation that are creating hindrances in managing leadership issues at the organizational level. Many types of leadership st yles and leadership skills are described in details to help the executives and managers to select proper form of leadership style in managing teams. Successful business global leaders in their organizations use the techniques are transformational, democratic, participative, autocratic, situational, laissez-faire, etc. References Arnold, K. A., Loughlin, C. (2013). Integrating transformational and participative versus directive leadership theories: Examining intellectual stimulation in male and female leaders across three contexts.Leadership Organization Development Journal,34(1), 67-84. Avolio, B. J., Yammarino, F. J. (2013). Introduction to, and overview of, transformational and charismatic leadership.Transformational and charismatic leadership: the road ahead. 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