What does this mean and how can you, as a leader, promote ethical workplace behaviours? Submit your answer for assessment. Managers focus on operations, leaders work with people to encourage them to use their own initiative and improve their skills. Manager is a designated position - positional power. Leadership is a personal characteristic - personal power.
• Describe the stages of an established model of group formation • Explain how a manager could benefit from knowing team members preferred roles as defined in an established team role model Section 1 – Understand how to develop and maintain effective working relationships You should provide your own understanding of how to develop and maintain effective working relationships by providing responses to the assessment criteria using, whenever appropriate, examples from a team situation with which you are familiar. 1.1 Explain the benefits of effective working relationships in developing and maintaining the team (20 marks) Effective working relationships are paramount to developing and maintaining effective teams. Teams need time and space to progress and establish interpersonal working relationships. These relationships between peers and leaders have to be positive, trustworthy and communicative to be effective and enhance performance. Leaders have to set the standard by being empathic, supportive and use a range of different leadership styles to develop and maintain the team, they also have be fair and consistent, as workers that feel they are unfairly treated by a manager will not show loyalty and will do the minimum.
One of my main takeaways from this topic is that money isn’t the best motivator. According to Mayo’s Hawthorne effect, employees feel more motivated when their efforts are recognized, and this can be achieved through bonuses for example. However, this can increase individualism as employees will focus on outperforming their peers. Intrinsic motivation helps create loyal employees who are more satisfied on a personal level. An example of this could be social security benefits.
The employees feel that they are important and serve a purpose. By management allowing their employees to be a part of the decision making process, they are giving the employees a sense of worth. If you ask for input on employee’s opinions you are showing them that you care about what they think. This gives them a higher feeling of self-worth, otherwise known as self-reliance. The employees enjoy their work and are aware of the set goal.
Motivation is what arouses someone's interest, directs their performance and sets the amount of energy that a person puts into achieving their goal. There are a number of factors which can affect motivation levels in the workplace such as: the relationships between co-workers; stress levels; recognition and praise; alignment of goals; and standards set. Recognition and praise from senior staff and management for the work an employee does demonstrates to the employee that they are appreciated. This can result in increased motivation to perform to high standards and a feeling of duty towards a company. A lack of recognition for good work can dramatically reduce motivation as staff feel undervalued and unappreciated, a person may work hard for an employer who does not appreciate them.
According to a study conducted by Gong, Huang, and Farh (2009), employees who work under transformational leaders had more self-confidence in their ability to be more creative and perform higher (pgs. 765-778). While speaking with my mentor, she states that I have the ability to assist my peers and assess their needs on and individualized basis. I can also influence and motivate my team members to accurately and efficiently complete tasks, and produce higher productivity and job
Why would directors be more efficient than shareholders at improving managerial performance and changing their incentives? How would such a linkage tend to reduce the agency problems between managers and shareholders as a whole? Such a linkage can reduce the agency problem because it more closely ties the director’s individually efficient action with aggregate surplus; that is, the overall most efficient outcome, and optimal performance of the corporation. This means that the shareholder’s preferred outcome will more closely resemble that of the directors. Why would directors be more efficient than shareholders at improving managerial performance and changing their incentives?
A rising ROE suggests that a company is increasing its ability to generate profit without needing as much capital. It also indicates how well a company's management is deploying the shareholders' capital. In other words, the higher the ROE the better. Falling ROE is usually a problem. CAGR: Operating income, % Operating income (EBIT) measures a company's earning power from ongoing operations and it largely used by investor because it excludes the effects of different capital structures and tax rates used in different companies.
Servant leadership is all about creating teamwork, community, and allowing for others to be involved in decision making, strong ethics, and caring behavior. These are important factors as well as encouraging personal growth among the staff (Spears, 2005). The leader and the servant are usually thought of as opposites however, the servant leader model has shown how the two opposites are intertwined to create a model that teaches about how to put others first and promote the sharing of decision making (Spears, 2005). This model focuses on the positive impact on the employees as well as the community, rather than worrying so much about profit (Spears, 2005). Compare and Contrast Servant Leadership with Transformational Leadership Transformational Leadership is another excellent form of leadership that focuses on the leader as a role model, the ability to generate
Even though union members—those who keep their jobs--- get their wages increased and enjoy improved working conditions and benefits, the economic issues that most unions brings to the United States outbalance the positive effects. As the United States competes with the rest of the world, firms struggle when one of their highest costs is directly related to labor. In the article Labor Unions by Morgan Reynolds, the author accurately explains this phenomenon: while higher wages are successfully achieved, they simultaneously reduce the number of jobs available in unionized firms. This occurs because of the basic law of demand: once prices of labor rise, then employers will purchase less of it. Hence such members’ benefits are achieved at the expense of consumers, nonunion workers, already unemployed people, taxpayers, and corporation owners (Reynolds,