Key Concepts MHR 3200—Exam 3 (3:55 pm) Leadership Leadership - The process of providing direction and influencing individuals or groups to achieve goals. Leadership vs. management - Both Important, but at different times • Management – focused more on the current, promoting stability and efficiency o Planning, Organizing, Analytical thinking, communication/informing o “keeps the trains running on time” • Leadership – focused on the future, promoting change and adaptation o Strategic thinking, conceptual thinking, innovation/creativity, inspiring o “decides where the tracks should be placed” Behavioral theories of leadership - The Ohio State Leadership Studies/UM Studies • Consideration Behaviors (People) & Initiating Structure (Task) • Did not find a preference, one combination wasn’t better than another - Managerial Grid: 5 Leadership Styles Contingency theories of leadership - Situational Leadership • Majority of time used participating and sellingTransactional vs. transformational leadership - Transactional – clarifying role requirements, task requirements, accountabilities ect. • Providing positive and negative rewards for performance • “micro-managing” - Transformational – provides a transformational change in engagement of members towards goals • A complement to transactional leadership, not a substitute • Vision + Communicate + Mobilize Commitment (Cause a step change in the organization) Charismatic leadership and leaders - Self-confidence, vision, ability to articulate the vision and make it real to others, strong convictions about the vision, behavior that is out of the ordinary, strong ability to manage CHANGE • Environment/Resource Sensitivity – sensitive to what people are going through • Transformational leaders are often strong charismatic leaders (JFK, MLK, Steve Jobs) Contemporary views of leadership - Kouzes & Posner’s Leadership Practices – Practices and Commitments • Practices: challenging the process, inspiring a shared vision, enabling others to act, modeling the way, encouraging the heart • Commitments: Search Out, Experiment, Envision, Enlist, Foster, Strengthen, Model, Achieve, Recognize & Celebrate Business leadership - Why CEO’s Fail: Arrogance, Melodrama, Volatility, Excessive Caution, Habitual Distrust, Aloofness, Mischievousness, Eccentricity, Passive Resistance, Perfectionism, Eagerness to Please - “The Extraordinary Leader” Model/Zenger & Folkman’s Competency Model 1. Character 2. Personal Capability 3. Focus on Results 4. Interpersonal Skills 5. Ability to Lead Organization Change (as required) - The 3 P’s of Effective Business Leaders 1. Passion – would continue to do it if there were independently wealthy 2. Performance – set high standards and hate to lose 3. Principle – cheating in order to win doesn’t count. Principle over profit What’s required to become a great leader Leadership excellence starts with the decision to be a great leader; with an explicit commitment to greatness. 1. Introspection 2. Self-Candor & Objectivity 3. A willingness to do what it takes to improve 4. A Time Commitment 5. A dissatisfaction with being merely “good” - There is nothing wrong with good, but being satisfied with good is a problem Leadership and strengths - More effective leadership: • generate higher income • have more satisfied customers • More effective leadership have lower turnover - Great leaders make a great difference - Exceptional Leaders have 3+ clearly recognized strengths • Characterized not by the absence of weakness but by the presence of recognized strengths - Initiative, Effort, Persistence, Courage, Optimism Model of leadership excellence - Competencies – things you are good at • Are collections of business-relevant skills, behaviors and abilities • Areas of Knowledge and/or expertise• Can be developed over time - Organization Needs – what the organization will pay you for - Passions – things you love to do • Naturally recurring patterns of thought, feeling or generalized behavior • Reflect your view of the world, values, and personality - The sweet spot is where your passions & competencies match the need of the organization (more overlap is better for all) Human Resource Planning Understanding the basic nature of human resource planning - A key business practice that systematically assesses (and provides a forum for discussion on) • Individual leader capability and potential for advancement • Leadership team capability and bench strength (succession planning) • Organization capability, needs and planned actions • Capability with regard to critical organizational issues (diversity) - Links current human resource capabilities with business strategies/plans • Highlights areas of strength as well as areas for improvement • Focus on both current status and planned development actions - Provides ongoing discussion and tracking of development initiatives to support continued growth • Leadership development • Organization development/change - Essential source of information to maximize ongoing internal slating/staffing capability Basic elements of human resource planning 1. Individual Development Planning (IDP) discussions between the employee and his/her manager 2. Talent Review discussions – manager reviews talent with 2nd level supervisor and HR a. In teams when possible and one-on-one where appropriate 3. Human Resource Planning (HRP) presentations a. Information used for action planning, forecasting ect. Job analysis - A technical procedure that defines a job’s duties, responsibilities & accountabilities as well as the knowledge, skills and abilities (KSAs) required to perform the job successfully • Different methods: observations, individual interview, group interview, questionnaires • Results used in developing “job descriptions” which are important for recruiting, selection, compensation, training and development, performance management ect. • Important for group-level issues (team effectiveness, clear articulation of roles/responsibilities) Forecasting human resource/people needs - Determining Labor Demand • Derived from product/service demanded • External in nature - Determining Labor Supply • Internal movements caused by transfers, promotions, turnover, retirements, ect. • Transitional matrices identify employee
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