how individuals behave within the business also promote or obstruct success in an organization. The decisions that must be made on a daily basis in management have prevalent consequences on the business’s results, whether they are negative or positive. Research has shown that “as much as 75 percent of business success is driven by Emotional Intelligence (EI). EI is considered as a crucial personal ability to be successful in today’s chaotic business environment” (Ghosh, N.B., & Rajaram, G., 2015). The decisions made by the leaders of the organization give them responsibility and accountability in the business’s accomplishments. They have the ability to provide strong roles in the company. As with any company, operational and leadership management are two major roles in the success of a business. However, the business’s financial condition is vital to the growth and prosperity of the organization. In an entrepreneurship or company, the financial aspect is crucial in developing and maintaining a successful business. The organization needs financial documents to allow the company adequate information to operate and become a thriving business. There are many statements and financial sheets available to report monetary knowledge the company will need for all future planning and directing (Bethel University, 2011). Income statements, balance sheets, and cash flow statements are a few that are attainable to allow economic review of a company. An income
Every organization that aspires to be successful must address the value of emotional intelligence in the work place. How people relate to each other determines if the organization eventually moves from
As part of this critical assignment, it is a requirement that I reflect on my own experience as a Leader where I have demonstrated a high level of emotional intelligence, as well use theories to demonstrate my learning’s.
In accounting there is much to be learned, about the financial aspects of a business. In the past five weeks I have learned the importance of financial reports and how they relate to the success of an establishment. These reports may include balance sheets and income statements, which help accountants and the public grasp the overall financial condition of a company. The information in these reports is really significant to, managers, owners, employees, and investors. Managers of a business can take and deduce financial
Self-Awareness, self-concept and emotional intelligence are effective managerial concepts that will result in leadership success. According to Stanford University, having these soft skills are indispensable traits that good managers should develop to be successful leaders. Managers strive to become aware of who they are, what their values, attitudes, skills, and abilities are. These values drive them to achieve and will eventually result in them become more effective. (Showry & Manasa, 2014, p. 15)
Batool, B. F. (2013) Emotional Intelligence and Effective Leadership. Journal of Business Studies Quarterly, 4(3), 84-94. (Note: Available in the Strayer Library)
The book “Primal Leadership: Unleashing the Power of Emotional Intelligence” explores the role of emotional intelligence in leadership. Also, opens links between organizational success or failure and "primal leadership," the authors argue that a leader 's emotions are spreadable. If a leader spread energy and enthusiasm, the organization will thrives. If a leader spreads negativity and conflict, the organization will struggles. The authors of this book are Daniel Goleman, Richard Boyatzis, and Annie McKee’s. The following paragraph will provide short background about each author.
Understanding the finances of a company is important but knowing the significance of the financial statements is crucial to the operations as well. Reviewing the statement of financial position, operating statement and statement of cash flows serve as a guidance to management and executives on the day-to-day activities of an organization (Finkler et al., 2013). For example, the statement of financial position (balance sheet) shows the assets and
Emotional intelligence is a term I had never heard of before I took my first leadership class. Now that I know what emotional intelligence is and I understand how to use it I hope to apply it to benefit myself and my organizations. I recognize what a huge disadvantage those that do not understand emotional intelligence are faced with. Emotional Intelligence has become a vital part of how today's leaders meet the many various challenges they face on a day to day basis. Emotional Intelligence can help leaders lead their group or organization through the good and the bad times, something that fewer and fewer people seem capable of accomplishing. Lack of emotional intelligence is
"Emotional Intelligence is a way of recognizing, understanding, and choosing how we think, feel, and act. It shapes our interactions with others and our understanding of ourselves. It defines how and what we learn; it allows us to set priorities; it determines the majority of our daily actions. Research suggests it is responsible for as much as 80% of the "success" in our lives." The Effective leader requires a high degree of Emotional Intelligence. In this study, the various skills of Emotional Intelligence can be related with real situations. The various skills of Emotional Intelligence are Self awareness, self regulation, motivation, Empathy, social skill. People with high self-awareness are also able
The author was given the task to explain emotional intelligence, and give two (2) example of the concept. Second, to examine, the concept of “emotional quotient” compared to traditional “intelligence quotient.” Third to suggest two to three (2-3) reasons why leaders’ need emotional intelligence to manage today’s workforce, as well as to speculate on at least two (2) possible consequences should a leader not possess emotional intelligence. Fourth, to explore the elements of emotional intelligence that leaders must be aware of to increase leadership effectiveness. Lastly, to recommend a strategy that the organization could undertake in order to improve the social skills of leaders within the organization and thereby
Stakeholders include but are not limited to employees, investors, and lenders. Therefore, to have a well-informed and well-rounded opinion, it helps to have accurate and up to date financial statements and ratio distribution of the company’s revenue. With the statements, it not only shows the current position of the company but gives insight to determine the best decisions in the running of the company. In regards to lenders, financial statements are the antithesis of the lending criteria used to calculate any monies the company may or may not receive. This calculation is important in estimating the average amount of money that they can lend the organization, and the amount can be paid after a certain period taking into account the rate of interests (Cummings & Worley, 2009).
The article of Leadership That Gets Results provides the six leadership styles for individuals to understand how leadership styles influence on an organization’s climate. Furthermore, the six leadership styles are consisted of the emotional intelligence: self-awareness, self-management, social awareness, and social skill. Therefore, these three concepts, such as the six leadership styles, the elements of emotional intelligence, and an organization’s climate, will influence each other because the research found that individuals with different emotional intelligence competencies will have distinct leadership styles. Subsequently, with the distinct leadership styles, leaders will utilize their own leadership styles to lead their group, team, division, or corporation. Thus, it will bring about a unique impact on an organization’s climate and in turn, on its financial performance (Goleman, 2000, p.79). Moreover, leaders with their own emotional
Emotional intelligence is an important characteristic in becoming a good leader. “Emotional intelligence is the ability to manage oneself and one's relationships in mature and constructive ways” (Kinicki & Kreitner, 2009, p.137).Being a good leader entails more than just being smart; leaders need to be able to connect to their employees emotionally and empathetically. Organizations today not only look for leaders with the skills, but leaders that can emotionally connect to employees to obtain the organization’s goal. “Leaders have always played a primordial emotional role. No doubt humankind’s original leaders-whether tribal chieftains or shamanesses-earned their place in large part because their leadership was
In today’s business world organizations are constantly forced to implement changes in an effort to grow and survive. These changing environments present new challenges and demands for everyone, from the Presidents and CEO’s to managers, to entry-level employees. With that organizational change triggers emotions within individuals that can have a negative or positive effect. With good leaders and management organizations are very likely to succeed. These leaders and managers must be honest, dedicated to the purpose, creative, fair, thoughtful, assertive, disciplined, and emotionally intelligent. Emotional intelligence allows individuals to recognize and control emotions, however it is important to first understand ones emotions before adventuring into others (Johnston, 2007). This essay is going to explain how organizational change triggers emotions from those who are affected by change and how leaders can use change intelligence to generate active employee participation during change.
Understanding human behavior is critical to organizations due to the fact that we are “human beings” that were created with set of emotions, intelligence, free will that enables us to make individual opinions that form a set of values that will follow us into various climates of organizations. The leaders of diverse units within organizations must be able to recognize the challenges; adaptations, intervention and management plan, and know when to exit from options that are not successful. Being unaware of individual self assessment such as emotional intelligence (EI), social quotient (SQ), and change quotient (CQ), will impede change and stalemate ultimate growth and benefits of productivity; hinder reaching the full vision or mission