Leadership Training
This case highlights the importance of identifying and developing leadership skills. A four-step cross-training process for developing leadership capabilities is presented. This process moves from skill assessment to skill development. The case discusses the importance of tying these skills to organizational goals.
The ability to develop leadership skills is important in an organizational setting. The identification of different types of skills and how to develop these is discussed. These skills can be related to the five components of emotional intelligence: self-awareness, self-regulation, motivation, empathy, and social skills.
Read the case below and answer the questions that follow.
Leaders who want to take the next step in their career can follow a straightforward four-step cross-training process. The basic idea behind this cross-training approach is simple yet effective. While the most effective leaders have at least one competency that makes them great and eventually indispensable, it makes little sense to continually work on already great qualities. Instead, leaders can benefit from identifying and developing complementary strengths. Building complementary strengths—or competency companions—may lead to substantially greater leadership effectiveness than finding increasingly rare opportunities to improve an already outstanding competency.
First, leaders must identify their strengths in areas that usually fall into five categories: character, personal capability, getting results, interpersonal skills, and leading change. While this task can be done in multiple ways, it is important to realize that your own view is less important than how others see you, making a 360-degree evaluation the method of choice.
Second, choose a strength to focus on. Most people find it easy to identify weaknesses and focus their attention on improving them. Unless a competency is extremely underdeveloped (i.e., in the 10th percentile), however, it may pay to focus on an already strong yet not outstanding competency. Developing a competency from strong to outstanding often can raise the perceived leadership effectiveness dramatically. However, choosing between multiple strong competencies is easier said than done, because most people lack clear selection criteria. To engage effectively in this process, leaders should focus on a strong competency that is important to the organization. Moreover, leaders should choose a competency they feel passionate about.
Third, select a companion behavior. While developing a great or outstanding competency is an important step on the journey to becoming an indispensable leader, it may increasingly pay to also focus on a mediocre competency that can be developed in an interacting (or complementary) fashion. As before, this companion competency should be valued by the organization and also be something the leader feels passionate about.
Lastly, develop your companion behavior. Once you have settled on an organizationally valued and personally engaging competency, you should now work on improving the basic skills in this area. Practically speaking, you could look for as many opportunities as possible to develop this competency, both inside and outside of work. For instance, you could take courses or practice informally with friends and coworkers. Volunteer to engage in activities that allow you to practice this skill, and ask for continuous feedback.
Extensive research by Zenger Folkman, a leadership development consultancy, provides solid evidence of the benefits of pairing leader attributes. Such findings were based on an analysis of its database of more than a quarter million 360-degree surveys of some 30,000 developing leaders. Take, for example, the competencies “focuses on results” and “builds relationships.” Only 14 percent of leaders who were reasonably strong (that is, scored in the 75th percentile) in focusing on results but less so in building relationships reached the extraordinary leadership level: the 90th percentile in overall leadership effectiveness. Similarly, only 12 percent of those who were reasonably strong in building relationships but less so in focusing on results reached that level. However, when an individual performed well in both categories, something dramatic happened: Fully 72 percent of those in the 75th percentile in both categories reached the 90th percentile on overall leadership effectiveness.
Source: Zenger, J. H., Folkman, J. R., & Edinger, S. K. 2011. Making yourself indispensable. Harvard Business Review, 89(10): 84-92.
What do the authors mean by selecting a companion behavior?
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Leadership Subject Minicase Richard Branson Shoots For The Moon End Of Chapter 1
/in Uncategorized /by developerLeadership subject: Minicase: Richard Branson Shoots for the Moon (End of Chapter 1)
The Virgin Group is the umbrella for a variety of business ventures ranging from air travel to entertainment. With close to 200 companies in over 30 countries, it is one of the largest companies in the world. At the head of this huge organization is Richard Branson. Branson founded Virgin over 30 years ago and has built the organization from a small student magazine to the multibillion-dollar enterprise it is today.
Branson is not your typical CEO. Branson’s dyslexia made school a struggle and sabotaged his performance on standard IQ tests. His teachers and tests had no way of measuring his greatest strengths—his uncanny knack for uncovering lucrative business ideas and his ability to energize the ambitions of others so that they, like he, could rise to the level of their dreams.
Richard Branson’s true talents began to show themselves in his late teens. As a student at Stowe School in England in 1968, Branson decided to start his own magazine, Student. Branson was inspired by the student activism on his campus in the 1960s and decided to try something different. Student differed from most college newspapers or magazines; it focused on the students and their interests. Branson sold advertising to major corporations to support his magazine. He included articles by ministers of Parliament, rock stars, intellectuals, and celebrities. Student grew to become a commercial success.
In 1970 Branson saw an opportunity for Student to offer records cheaply by running ads for mail-order delivery. The subscribers to Student flooded the magazine with so many orders that his spin-off discount music venture proved more lucrative than the magazine subscriptions. Branson recruited the staff of Student for his discount music business. He built a small recording studio and signed his first artist. Mike Oldfield recorded “Tubular Bells” at Virgin in 1973; the album sold 5 million copies, and Virgin Records and the Virgin brand name were born. Branson has gone on to start his own airline (Virgin Atlantic Airlines was launched in 1984), build hotels (Virgin Hotels started in 1988), get into the personal finance business (Virgin Direct Personal Finance Services was launched in 1995), and even enter the cola wars (Virgin Cola was introduced in 1994). And those are just a few highlights of the Virgin Group—all this while Branson has attempted to break world speed records for crossing the Atlantic Ocean by boat and by hot air balloon.
As you might guess, Branson’s approach is nontraditional—he has no giant corporate office or staff and few if any board meetings. Instead he keeps each enterprise small and relies on his skills of empowering people’s ideas to fuel success. When a flight attendant from Virgin Airlines approached him with her vision of a wedding business, Richard told her to go do it. He even put on a wedding dress himself to help launch the publicity. Virgin Brides was born. Branson relies heavily on the creativity of his staff; he is more a supporter of new ideas than a creator of them. He encourages searches for new business ideas everywhere he goes and even has a spot on the Virgin website called “Got a Big Idea?”
In December 1999 Richard Branson was awarded a knighthood in the Queen’s Millennium New Year Honours List for “services to entrepreneurship.” What’s next on Branson’s list? It’s Virgin Galactic, Branson’s company designed in part to make space tourism available to private citizens. And as a step toward that end, he has said he hopes to fly in space himself in 2018. The first passengers will be Branson himself and his two adult sons; you can take a later flight yourself for a mere $200,000 for a two-hour trip. Not everyone is convinced that space tourism can become a full-fledged part of the travel industry, but with Branson behind the idea it just might fly.
Would you classify Richard Branson as a manager or a leader? What qualities distinguish him as one or the other?
As mentioned earlier in this chapter, followers are part of the leadership process. Describe the relationship between Branson and his followers.
Identify the myths of leadership development that Richard Branson’s success helps to disprove (Hughes, 20180, pp. 33-35).
Reference:
Hughes, R. (20180313). Leadership: Enhancing the Lessons of Experience, 9th Edition [VitalSource Bookshelf version]. Retrieved from https://bookshelf.vitalsource.com/books/9781260167702
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Leadership That Makes Subordinates Aware Of The Importance Of Their Jobs And Per
/in Uncategorized /by developerLeadership that makes subordinates aware of the importance of their jobs and performance to the organization and aware of their own needs for personal growth and that motivates subordinates to work for the good of the organization
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Leadership Theories Worksheet Is Attachedresearch The Following Five Leadership
/in Uncategorized /by developerLeadership Theories-WORKSHEET IS ATTACHED
Research the following five leadership theories and include these in your matrix (use the matrix template provided):
-Trait theories of leadership
-Behavioral theories of leadership
-Contingency models of leadership
-Skills approaches to leadership
-Situational methods of leadership
Develop the definition and characteristics of various leadership theories and approaches to leadership (trait leadership, behavioral leadership, contingency leadership, skills leadership and situational leadership).
Provide one or more examples to support the definition or characteristics of each form of leadership.
Write out your explanations in each section using about 350 words for each section. You will thus have 5 sections of 350 words each.
Format your Leadership Theory Matrix with the template and consistent with APA guidelines.
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Leadership Training This Case Highlights The Importance Of Identifying And Devel
/in Uncategorized /by developerLeadership Training
This case highlights the importance of identifying and developing leadership skills. A four-step cross-training process for developing leadership capabilities is presented. This process moves from skill assessment to skill development. The case discusses the importance of tying these skills to organizational goals.
The ability to develop leadership skills is important in an organizational setting. The identification of different types of skills and how to develop these is discussed. These skills can be related to the five components of emotional intelligence: self-awareness, self-regulation, motivation, empathy, and social skills.
Read the case below and answer the questions that follow.
Leaders who want to take the next step in their career can follow a straightforward four-step cross-training process. The basic idea behind this cross-training approach is simple yet effective. While the most effective leaders have at least one competency that makes them great and eventually indispensable, it makes little sense to continually work on already great qualities. Instead, leaders can benefit from identifying and developing complementary strengths. Building complementary strengths—or competency companions—may lead to substantially greater leadership effectiveness than finding increasingly rare opportunities to improve an already outstanding competency.
First, leaders must identify their strengths in areas that usually fall into five categories: character, personal capability, getting results, interpersonal skills, and leading change. While this task can be done in multiple ways, it is important to realize that your own view is less important than how others see you, making a 360-degree evaluation the method of choice.
Second, choose a strength to focus on. Most people find it easy to identify weaknesses and focus their attention on improving them. Unless a competency is extremely underdeveloped (i.e., in the 10th percentile), however, it may pay to focus on an already strong yet not outstanding competency. Developing a competency from strong to outstanding often can raise the perceived leadership effectiveness dramatically. However, choosing between multiple strong competencies is easier said than done, because most people lack clear selection criteria. To engage effectively in this process, leaders should focus on a strong competency that is important to the organization. Moreover, leaders should choose a competency they feel passionate about.
Third, select a companion behavior. While developing a great or outstanding competency is an important step on the journey to becoming an indispensable leader, it may increasingly pay to also focus on a mediocre competency that can be developed in an interacting (or complementary) fashion. As before, this companion competency should be valued by the organization and also be something the leader feels passionate about.
Lastly, develop your companion behavior. Once you have settled on an organizationally valued and personally engaging competency, you should now work on improving the basic skills in this area. Practically speaking, you could look for as many opportunities as possible to develop this competency, both inside and outside of work. For instance, you could take courses or practice informally with friends and coworkers. Volunteer to engage in activities that allow you to practice this skill, and ask for continuous feedback.
Extensive research by Zenger Folkman, a leadership development consultancy, provides solid evidence of the benefits of pairing leader attributes. Such findings were based on an analysis of its database of more than a quarter million 360-degree surveys of some 30,000 developing leaders. Take, for example, the competencies “focuses on results” and “builds relationships.” Only 14 percent of leaders who were reasonably strong (that is, scored in the 75th percentile) in focusing on results but less so in building relationships reached the extraordinary leadership level: the 90th percentile in overall leadership effectiveness. Similarly, only 12 percent of those who were reasonably strong in building relationships but less so in focusing on results reached that level. However, when an individual performed well in both categories, something dramatic happened: Fully 72 percent of those in the 75th percentile in both categories reached the 90th percentile on overall leadership effectiveness.
Source: Zenger, J. H., Folkman, J. R., & Edinger, S. K. 2011. Making yourself indispensable. Harvard Business Review, 89(10): 84-92.
What do the authors mean by selecting a companion behavior?
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Leading By Example Leaders Must Be An Example Of Empowerment If They Want To Suc
/in Uncategorized /by developerLeading By Example:what it means to you to “lead by example?” How important is it to you to develop and maintain this leadership characteristic? Give at least one example of how you have applied this concept in the past?
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Leading Economic Indictators The Value Of The Conference Board Index Of 10 Econo
/in Uncategorized /by developerleading economic indictators: the value of the conference board index of 10 economic undicatators in the U.S could be approximately by the following function of time t in months since the end of december 2002.if 6<t<15{ -0.2t + 119 if 15<t<20a) Estimate E(10), E(15, E(20)B)seketch the graph of E and use your graph to estimate when the index first reached 115
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Leah S Toys Guarantees To Ship Customer Orders In 24 Hours Or Less The Following
/in Uncategorized /by developer0.04
4. A machine is designed to fill bottles to between 16.01 and 15.98 ounces. Thirty samples of bottles filled by the machine were randomly selected from the process. The sample bottles yielded a mean (mu) of 15.99 and a standard deviation of 0.0025. Calculate the process capability index for the bottle filling machine and comment on its capability.
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Lean Thinking And Lean Tools Study Processes To Eliminate Waste And Thereby Incr 1
/in Uncategorized /by developerLean thinking and lean tools study processes to eliminate waste and thereby increase productivity while conserving costs. Your textbook mentions seven sources of waste: overproduction, idle time, delivery waste, waste in the work, inventory waste, waste in operator motion, and rejected parts (Six Sigma, p. 348). If we can eliminate waste in any of these seven areas, we can provide more value to the customer and improve company performance. There are a number of tools used in process mapping, but we will focus on the five Ss and visual management.
The five Ss are activities that “focus on creating orderliness.” (Six Sigma, p. 353) These five Ss deal with orderliness, arrangement and flow, cleanliness, repetitive motion, and the self-control (which is needed to implement the other four Ss). When the Five Ss are employed, workers have everything needed in place, readily available with no wasted steps, motions, time, or resources.
Visual Management focuses on organization with everything in its proper place, whether this involves a work area, a process, storage, warehouse area, or any type of facility.
Assignment
1. Review the five Ss. Identify an area in your home. Apply the five Ss. What changes did you make? What results do you see or do you anticipate? How does applying the five Ss to this particular area increase production and decrease waste?
2. Describe a situation in your home where you would use visual management to organize and to improve a work or storage area or a process? How would you tell if a step or an item is out of place? How does such organization improve the process and eliminate waste?
*** 1 1/2 or 2 pages paper
Running head: FIVE Ss AND VISUAL MANAGEMENT Five Ss and Visual Management(Student Name)(University Name)Date: February 18, 2016 1 FIVE Ss AND VISUAL MANAGEMENT 2 The 5S Program characterizes the…
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Lear Inc Has 800 000 In Current Assets 350 000 Of Which Are Considered Permanent
/in Uncategorized /by developer14. Lear, Inc., has $800,000 in current assets, $350,000 of which are considered permanentcurrent assets. In addition, the firm has $600,000 invested in fixed assets.a. Lear wishes to finance all fixed assets and half of its permanent currentassets with long-term financing costing 10 percent. Short-term financingcurrently costs 5 percent. Lear’s earnings before interest and taxes are$200,000. Determine Lear’s earnings after taxes under this financing plan.The tax rate is 30 percent.b. As an alternative, Lear might wish to finance all fixed assets and permanentcurrent assets plus half of its temporary current assets with long-term financing.The same interest rates apply as in part a. Earnings before interest andtaxes will be $200,000. What will be Lear’s earnings after taxes? The taxrate is 30 percent.Matching asset mixand financing plan(LO3)Impact of termstructure of interestrates on financingplan(LO4)Conservativeversus aggressivefinancing(LO5)Alternativefinancing plans(LO5)Temporary current assets . . . . . . . . . $1,000,000Permanent current assets . . . . . . . . . 2,000,000Fixed assets . . . . . . . . . . . . . . . . . . . 1,200,000Total assets . . . . . . . . . . . . . . . . $4,200,000Block−Hirt−Danielsen:Foundations of FinancialManagement, 13th EditionIII. Working CapitalManagement6. Working Capital and theFinancing Decision© The McGraw−HillCompanies, 2009Chapter 6 Working Capital and the Financing Decision 185www.mhhe.com/bhd13ec. What are some of the risks and cost considerations associated with each ofthese alternative financing strategies?15. Using the expectations hypothesis theory for the term structure of interest rates,determine the expected return for securities with maturities of two, three, andfour years based on the following data. Do an analysis similar to that inTable 6–6 on page 172.16. Modern Tombstones has estimated monthly financing requirements for the nextsix months as follows:Short-term financing will be utilized for the next six months. Projected annualinterest rates are:a. Compute total dollar interest payments for the six months. To convert anannual rate to a monthly rate, divide by 12.b. If long-term financing at 12 percent had been utilized throughout the sixmonths, would the total dollar interest payments be larger or smaller?17. In problem 16, what long-term interest rate would represent a break-even pointbetween using short-term financing as described in part a and long-term financing?Hint: Divide the interest payments in 16 a by the amount of total funds providedfor the six months and multiply by 12.18. Sherwin Paperboard Company expects to sell 600 units in January, 700 unitsin February, and 1,200 units in March. January’s ending inventory is 800 units.Expected sales for the whole year are 12,000 units. Sherwin has decided on alevel production schedule of 1,000 units (12,000 units/12 months 1,000 unitsper month). What is the expected end-of-month inventory for January, February,and March? Show the beginning inventory, production, and sales for each monthto arrive at ending inventory.BeginninginventoryProductionlevel Sales ( )Endinginventoryhypothesis andinterest rates(LO4)ExpectationsInterest costs underalternative plans(LO3)Break-even pointin interest rates(LO4)Sales and inventorybuildup(LO3)1-year T-bill at beginning of year 1 6%1-year T-bill at beginning of year 2 7%1-year T-bill at beginning
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Lear Inc Has 880 000 In Current Assets 390 000 Of Which Are Considered Permanent
/in Uncategorized /by developerLear Inc. has $880,000 in current assets, $390,000 of which are considered permanent current assets. In addition, the firm has $680,000 invested in fixed assets.
a. Lear wishes to finance all fixed assets and half of its permanent current assets with long-term financing costing 9 percent. The balance will be financed with short-term financing, which currently costs 7 percent. Lear’s earnings before interest and taxes are $280,000. Determine Lear’s earnings after taxes under this financing plan. The tax rate is 30 percent.
Earnings after taxes = _____________
b. As an alternative, Lear might wish to finance all fixed assets and permanent current assets plus half of its temporary current assets with long-term financing and the balance with short-term financing. The same interest rates apply as in part a. Earnings before interest and taxes will be $280,000. What will be Lear’s earnings after taxes? The tax rate is 30 percent.
Earnings after taxes = _____________
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