Principles Of Business Management Assignment Unit One

Entrepreneurship is when people start creating and designing a new business from scratch. It is when people come up with ideas and turn them into a proper business. ‘’Entrepreneurship is the journey of opportunity exploration and risk management to create value for profit and/or social good’’.

Leadership in an organization often plays a critical role, and is frequently, though not always, one of the major drivers of the success or failure of a company. (Bass, 1990) Effective leadership helps a company through times of peril and brings a future of brightness. It makes a corporation successful. However, what is leadership? According to Kouzes and Posner, it is the art of mobilizing others to want to struggle for shared aspirations. (1995, p.30) Leaders set a clear direction for us; they help us realize what is ahead; they support us to achieve and win; they encourage and inspire us when we feel depressed. Without leadership, an organization will degenerate into chaos and unstructured because people view things in different ways.

The traditional concept of a leader, as being the directing chief at the top of a hierarchy, is now considered to be inadequate to truly lead a modern organisation. Leadership is concerned with people and so anyone, and indeed everybody, has the potential to demonstrate leadership qualities and behaviours.

Leadership can be defined as the process of identifying a goal, motivating others, and make them to achieve the mutually goals (Giltinane, 2013). According to Humphreys (2002), successful leaders do this by applying their leadership knowledge and skills. A good leadership is not only good at management, but also use different leadership styles in different situations. A successful corporation must has a good leader who have the flexible ability which can provide a suitable leadership to make the company successful. Furthermore, there have no perfect leadership styles in the world. Different leader have different leadership styles which also have the different strengths and weaknesses (Ali & Waqar, 2013). Leaders need to consider

Leadership is, and always has been, a vital aspect of social and economic constructs. It is essential to the survival of societies, industries, organizations, and virtually any group of individuals that come together for a common purpose. However, leadership is difficult to define in a single, definitive sense. As such, theories of leadership, what constitutes a great leader, and how leaders are made have evolved constantly throughout history, and still continue to change today in hopes of improving upon our understanding of leadership, its importance, and how it can be most effective in modern organizational cultures.

Leadership can be defined as the ability of a company 's management to make sound decisions and inspire others to perform well (Investopedia, 2014). From the beginning of time, in the middle of all the major changes and historical events there where effective and motivated leaders having a wide sphere of influence and inspiring other groups of people to be creative and efficient. A leader is defined as a person or thing that holds a dominant or superior position within its field, and is able to exercise a high degree of control or influence over others (businessdictionary,2014).Leaders have always played a major role in the evolution of technology as well as in forming the very lifestyle of today’s society. Effective leaders are able to set and achieve challenging goals, to take swift and decisive action even in difficult situations, to outperform their competition, to take calculated risks and to persevere in the face of

The theme of leadership is relevant today for many areas of life. After consulting the dictionary, one can construe the leadership as an inner force that manifests in the ability to influence and to control others. A person possesses this quality when he/she can guide masses and move them to the goal, take the consequences and realize the responsibility for himself/herself and others. Shakespeare once remarked that to be a good leader, first of all, one should serve faithfully and loyally. Otherwise, leadership is a destructive force: either you succeed, or it destroys you. “Macbeth” and “Lord of The Flies’ are epitomes of both leadership patterns and worth.

Leadership is both an inherent value and is forged overtime. Inherently, some people are born good leaders and intrinsically have good values imbedded. Leadership traits can be honed and developed overtime; you never stop learning to be a good leader. Leadership is the cornerstone of all successfully run organizations and is what drives stewardship to successfully carry on the organizations mission statement. Throughout one’s life experiences, they come across some great leaders and some not-so great leaders. Those life experiences transcend one to become a better leader through experiential circumstances.

What is leadership? How does people perceive leadership in their everyday Life? Can we still today, in a world oriented more an more towards individualism and commitment to achievement of personal goals, talk about leadership?

Leadership is an influential word: and its meaning may differ from person to person. Some describe leadership as the people in the highest and most powerful positions within an organization. But as I look back on the positions I have held and the people I would consider leaders, the people I would choose to follow, they were not necessarily the higher ranked people in the organization. They were the people with vision and moral compass who moved the company forward. These people live by their own values and stayed true to these principles every day in their roles within the organization. Those who try to lead by intimidation are not actually leaders but managers, who will have some success in achieving goals but will

In today’s competitive world, leadership skills are crucial for both personal and professional development. Leadership is an important function of management which helps an individual or a business to maximize efficiency and to achieve goals. Leadership has different meanings to various authors.Most commonly, leadership is defined as influence, that is, the art of influencing people so that they will strive willingly and enthusiastically toward the achievement of group goals. (Koontz). Leadership is the process of influencing the activities of either formal or informal group in the task of goal setting and goal achievement. A leader is one whose magnetic personality innervates people for some cause. Not by words, but by their actions is

“Leadership is more ability than job. Moreover, it is all about determination, ability to solve problems, set direction for followers, gather them for common purpose and motivating people to achieve tasks. Furthermore, it is a charisma and the ability to reacting at the right time for a particular competitive situation” (L.Mullins, 2010, P372).

“Leadership is the ability to take an average team of individuals and transform them into superstars. The best leader is the one who inspires his workers to achieve greatness each and every day”.

This era has become very competitive and in order for organizations to be successful they need leaders to establish and manage relationships and lead their subordinates accordingly in order to achieve the company’s mission and objectivity. Leadership overall plays a very important role in the success of a company because the leader controls their subordinates behavior. If subordinates have uncertainties that are not directed accordingly it can result in an unhealthy environment, and in turn it will affect the growth of the organization, therefore good leadership is necessary.

During the last few decades, numerous management researches have focused their attention on leadership. This field has received even more interest due to globalization and with the further increase in the companies size has led to more popularity of some CEOs and politicians who have become icons inspiring, leading people and entire generations.