Chap 1 - B leadership

Question 1

what is the role of the leader?

Answer 1

-set tone from the top
-setting goals and strategies of organisation

Question 2

characteristic of leader?

Answer 2

experienced
competent
optimistic
skilled
charismatic
visionary
risk taker

Question 3

define leadership

Answer 3

a leader is someone who influences other people towards achieving a goal.
it is all about moving people, getting them from A to B, improving performance, and COMMUNICATION.
if leader can’t communicate the why and how and when of the goal, then they will not succeed.

Question 4

what are the traits required by effective leaders? according to trait theories.

Answer 4

-physical traits: drive, energy, appearance, height
-personality: adaptability, enthusiasm, self-confidence, intelligence.
-social traits: cooperation, tact, courtesy, admin ability

Question 5

what is the problem with personality trait theories?

Answer 5

counter examples can always be given. good leadership is more than simply possession of particular physical or psychological attribbutes

Question 6

what are the four leadership style theories?

Answer 6

a style of a manager is how he or she operates. four main management styles are:
1) tells (autocratic) - manager takes all decisions and they have to be obeyed without question

2) sells (persuasive)- manager takes all the decisions but, motivates the team members to accept them in order to carry them out properly.

3) consults (participative) confers with team, takes their views into account, but still has the final say

4) joins (democratic) the decision is made together on voting basis.

Question 7

most effective leadership style is

Answer 7

consult/ participative. (think captain holt)
consistency is also important

for productivity and employee satisfaction, democratic style was most suited (warren buffet does this, focus on hiring competent ppl)

autocratic is least productive, leading to aggression and frustration. (steve jobs did this, but apple largest company)

no one size fits all.

Question 8

what factors must be considered before choosing a leadership style?

Answer 8

-needs of group ( communication, team building, motivation, leadership)
-the needs of individuals (coaching, counselling, motivaiting, developing)
-task needs (objectives, planning, allocation of responsibilities, perfromance standards)

Question 9

what is the situational approach?

Answer 9

it says that there should be a perfect mix of both traits and contingency.

Question 10

new boss has autocratic style, and the finance department hates her. write an email, recommend a suitable management style

Answer 10

to, from, date, subject: management style

-intro: a management style is how a manager deals with subordinates
-there are a number of different models, mostly used model is LEWIN
-relate: according to lewin’s conclusions, you could be described as autocratic, meaning u are telling them what to do.
empathize: this probably worked well in army, understandably this is what you are used to.
give understanding: the workers in the finance department are highly trained, professionally qualified and used to make their own decisions

with these kind of workers, autocratic style is not successful.
u may find it useful to adopt a more democratic approach, (define and tell advantages, greater productivity, morale etc)

difficulties in changing, questions that might arise in your mind, suggestion, get a mentor, start slowly

most important is for you to realise this is in the best interets of you, employees and company.

i hope u found it helpful, please dont hesitate to get in touch for more information

regards

Question 11

what is responsible leadership

Answer 11

Important in a changing business environment.
Focuses on delivering performance, sustainability, and long-term success.

Question 12

How is responsible leadership Linked to Stakeholder Theory

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Answer 12

Responsible leadership expands on stakeholder theory.
Considers broader needs, societal/moral implications, and long-term priorities.

Question 13

responsible leadership- Connection to Strategic Planning

Answer 13

Responsible leadership aligns with strategic planning.
Balances these factors to ensure organizational success.
Builds a positive reputation through consistent responsible behavior

Question 14

Examples of Responsible Actions

Answer 14

Involving employees in decisions and supporting their development.
Considering human and environmental impacts in the supply chain.
Implementing end-of-life vehicle processes and socially responsible practices.

Question 15

Building a Responsible Culture

Answer 15

Encourages a socially responsible culture.
Focuses on ethics, sustainability, and societal impact.
Sets the tone from top leadership to foster responsible behavior.

Question 16

benefits of responsible leadership

Answer 16

-Improved work-life balance.
-Enhanced productivity, staff retention, and satisfaction.
-Positive environmental impact.
-Attraction of talent and fostering innovation.

Question 17

how can accountants be responsible leaders?

Answer 17

Accountants often have important roles in companies, so they should show what good leadership is and inspire others to do the same.

Accountants should make sure companies don’t only care about making money. They should suggest and use other ways to measure success and prove that responsible choices are making a positive difference. Integrated reporting can help with this. Even if responsible actions don’t always show big results on their own, they add up over time and make the company better.