LFIN Flashcards

Question

motivation: expectancy theory by VROOM

Answer 1

Motivational force = expectancy x instrumentality x valence - motivational force: extent to which a person is likely to engage in a certain course of action - expectancy: belief that an increase in effort will result in an increase in performance - instrumentality: belief that increased performance will lead to certain outcomes - valence: extent to which the outcome is desirable keys to motivation - realize a vision, need to ensure people are constantly aligned - keep people energized and moving on the same path - leaders do not achieve their goals by force or pushing people - Instead appealing to people's inner drives, needs and desires (intrinsic motivation) Strategies for motivation - external factors to motivate: company policies and benefits, working conditions, ability to remove obstacles, monetary motivational factors, status, job securitiy, effective communication - > critics: only a short-term effect - e.g. just motivated until they get better job offer (higher salary), only external factors are not enough - internal factors to motivate: related to job content, nature of work itself, speaking with the heart of the employees and inspire them - e.g. opportunity to increase their rank, give them more responsibility, true praising for great work, sense of ownership - > critics: internal and external factors are complementary Team motivation - the managerial roles - roles can be used to build a well rounded and motivated managerial team - every position needs to be filled - Individuals can learn from each other, motivate and help each other - who fits best into which role? e.g. primary goal of producer is responsible to finish the products, partial goals of the organization, hard and fast workers

Answer 2

- Leaders should be able to balance the following three responsibilities - three core demands of modern leadership 1. achieving the task: identify resources, people who are fitting, tools, create a strategy plan, setting standards, briefing 2. Managing the team or group: establish team spirit, team culture, share information, focus on objectives 3. Managing individuals : understand team members as individuals, personal aims, understand their fears, support individuals

Answer 3

leadership is a process that is centered on the interactions between a leader and subordinates. LMX theory challenges the assumption that leaders treat followers in a collective way. Directed attention to the differences that might exist between the leader and each of his followers. - Dyadic relationship: development of relationship between leader and follower (vertical dyad) - descriptive part: differentiation between in-groups and out-groups - prescriptive part: gives you as a leader recommendations how to develop relation between leader and follower ▷Leader should develop high quality exchanges with all of his subordinates, forms special relationships with all subordinates, offer each subordinate an opportunity for new responsibility, should nurture high-quality exchanges with all subordinates -> entire work group becomes an in-group. stages in development on LMX theory 1. vertical dyad linkage : descriptive part 2. leader-member-exchange: descriptive part 3. leadership-making: prescriptive part, develops over time - three stages (role taking, role making, routinization) 4. Team making 3 stages of leadership making 1. Role taking: takes place when a new member joins a team and their abilities are initially assessed by the leader, directive leadership - stranger phase - low exchange quality, one-way-communication (leader) - directed leadership style - interest of follower: to survive 2. Role making: role is created for the member, exchange between leader and member - medium exchange quality - more responsibility for follower - building trust - additionally, follower is classified in either IN or OUT group In-group characteristics based on expanded and negotiated role responsibilities - reciprocal influence - do extra things for the leader and the leader does the same for them - more emotional, bonds - thinking in group as a whole Out-group characteristics based on formal employment contact - only formal communication -> no reciprocal influence - less compatible with leader -> usually just come to work to do their job 3. Routinization partner phase - routines, norms and expectations are established - both get insight into how you both work - you can negotiate you role, responsibilities, influence - High quality exchange between leader and member

Answer 4

Approach to increase effectiveness of team development Formula used to leading high-performance teams serves to identify team dysfunctions and performance issues - Goals: clarity of objectives, priorities, fully understood by every team member - Roles: clear roles and responsibilities, matching to the team goals - Processes: procedures working correctly, dealing with conflicts, fair communication - Interpersonal relationship: emotional components, authentic, establish a great company culture, respectful, trust

Answer 5

- authentic leaders know and live their values - they win people's trust by being who they are, not pretending to be someone else or living up to peoples expectations - they are honest, truthful, straight and direct - avoidance of hiding behind vague words - they pay attention to self-mastery character development inner leadership 1. intrapersonal definition: based on leaders self-concepts, own values, leading from conviction 2. developmental definition: can be triggered by life events, forms leadership, experience 3. Interpersonal definition: authentic leadership is relational, created by leaders and followers together (joint venture) 1. Self-awareness: individuals understand themselves, give followers insight in weakness, strengths, emotions, life-goals 2. internalized moral perspective: using internal moral standards, actions are consistent with expressed beliefs and morals 3. balanced processing: ability to analyze information objectively, being open about own perspective, but also considering other opinions 4. Relational transparency: being open and honest in presenting one's true self to others, share feeling, motives and inclinations in appropriate manner -> if you are impressed by others, show it 3 Factors that are influencing AL 1. positive psychological capacities : optimism, hope. confidence 2. Moral reasoning: capacity to make ethical decisions, enables leaders to promote justice and achieve what is right for community 3. Critical life events: can be positive or negative, if leaders present their life events they become more authentic, acts as a catalyst for change

Answer 6

1. value centered: knowing and reflecting own values 2. Self-disciplined: gives leaders focus and determination 3. Purposeful: knowing what one is about and where one is going 4. Relational: establishing a connection with others 5. Compassionate: being sensitive to the plight of others

Answer 7

Transformational leadership focus on charismatic and effective elements of leadership like personalities, emotions, values, ethics, standards, long-term goals In that sense: process that changes and transforms followers moves followers to accomplish more than what is usually expected from them 4I's Transformational factors : connection between leader and followers that raise level of motivation and morality 1. Idealized influence or charisma: leaders who act as inspiring role models, high moral and ethical standards, deeply respected, provide sense of mission - vision on mission 2. Inspirational motivation: communication of high expectations, inspiring through motivation - establish team spirit and group cohesion 3. Intellectual stimulation: generate creativity, innovation power and stimulate to engage in careful problem solving - boost team cohesion/spirit 4. Individual consideration: leader acts as coach and advisor, provides positive climate, listens very carefully to followers needs - information power: uses delegation to help followers grow 2 transactional factors: focus on exchanges between leaders and their follower 5. contingent reward: exchange process between leader and follower - salary goes up if performance increases 6. Management-by-exception: corrective criticism - find mistakes a) passive - poor performance evaluation without ever talking with employee b) active - watches closely for mistakes 1 Laissez faire factor 7. absence of leadership: little effort to help follower grow - weakens trust in long-run but can be sign of trust in short-run Outcomes of transformational leadership go beyond expectations Transformational > transactional > Laissez Faire

Answer 8

five fundamental practices that enable leaders to get extraordinary thing accomplished - model the way: need to be clear about own values, vision - inspire a shared vision: communicate vision - challenge the process. willing to change status quo, leading change - enable others to act: soft skills, convince others from your idea - Encourage the heart: rewarding others for their results, praising, emotional

Answer 9

Self-awareness 1. High self-awareness - very clear understanding of how one is behaving and perceived by others - being sensitive to attitudes and feelings - able to disclose awareness to others - skill indicator: knowing how one is feeling at a moment- self consciousness Self-management 2. positive outlook - future oriented 3. adaptability - flexibility 4. Emotional self-control - capacity to be able to keep an emotional perspective - skill indicator: being able to relax in pressure situations, be productive when angry, keep calm, become normal quickly again 5. Achievement-orientation - motivation, channel emotions to achieve goals (path goal theory) Social awareness 6. Empathy - being aware of others and help them articulate/express their emotions in a productive way - skill indicator: being able to manage group emotions, develop team sprit (cohesion), emotional attraction 7. organizational awareness - aware of structure & issues in organization Relationship management 8. Social expertise - mentor/coach other people (SL2) - skill indicator: working out conflicts in critical and constructive way, building consensus and facilitate trust building 9. conflict management - deliver difficult messages - working out sustainable & intelligent solutions 10. ability to influence - communication in adequate way 11. team work - developing team cohesion 12. inspirational leadership - driving/leading change and vision overall: emotional intelligence leadership > authentic leadership