Cultural Dimensions of Leadership
February 12, 2025
Business Decision Making in the 21st Century We live in a world of increasing complexity and compression of time which means that the systems whether they are business structures, economic and political institutions, or even societal systems need to take into account complexity and increased interconnection along with reduced time to react and acceleration of […]
Why Successful Leadership is All about Finding the Balance between Hopes and Realities Management Theory talks a lot about how leaders have to vision and why without it, they are no different from managers who are more concerned about the Day to Day running of organizations. Indeed, pick up any book on Leadership and, chances […]
In the previous article, we have already studied the concept of layering and how it related to reinsurance policies. We are now aware that layering is used so that the risk can be comfortably placed between multiple reinsurance companies instead of a single reinsurer having to bear all the risk. Layering is a very popular […]
Reinforcement theory of motivation was proposed by BF Skinner and his associates. It states that individual’s behaviour is a function of its consequences. It is based on “law of effect”, i.e, individual’s behaviour with positive consequences tends to be repeated, but individual’s behaviour with negative consequences tends not to be repeated. Reinforcement theory of motivation […]
In the previous article, we have already studied about the concept of reinsurance sidecars. We now know what reinsurance sidecars are and how they are structured. We know why insurance sidecars have revolutionized the reinsurance industry. However, it is equally important to know what are the pros and cons of reinsurance sidecars so that a […]
Without an effective leadership strategy, it is believed, that the organizational strategies do not work.
Best players in a team do not guarantee success without a great coach, similarly, work teams may not function effectively if leaders do not follow an appropriate leadership strategy.
To understand leadership styles here are three scenarios:
Scenario 1 - A Teacher gives a question to the class full of students, however, solves it for them;
Scenario 2 - A Teacher gives the question to the students and observes how students solve them;
Scenario 3 - A Teacher gives a question to the students and moves around the class, observes the students, and helps wherever required.
Scenario 1 was “Leading from the Front”, Scenario 2 was “Supportive Leadership Style”, and Scenario 3 was “Interactive Leadership Style”. Besides this the leadership styles/strategies could be based on personality traits like Directive Leadership, Structured Leadership, Intuitive Leadership, or Process Driven leadership.
Here are some tips while selecting leadership strategy/style:
Situational Leadership helps addressing varied needs/expectations of the followers as the leader adopts a strategy based on a situation he/she is in. In case a leader has a self-reliant team, he/she needs to be using a directive leadership style or lead form the front. He/She could instead delegate and provide inputs where necessary.
It is often said that good leaders are born and not made; however, good leaders are those who are aware of their personality traits and also of their followers. They know which leadership style is to be adopted in a particular situation. Once this is done, there is a little challenge left for a leader to become a “good/great” leader.
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