All entries for Sunday 10 March 2013
March 10, 2013
There are an abundance of leadership theories out there but not all are applicable to the WaveRiders Company and how its management can be made effective.
In my scenario I have described the character of both the WaveRIders CEO and director to build a background picture on which I shall base my reasoning as to which style of leadership or approach would best suit the organization in achieving success through efficient and effective leadership.
I would first like to classify the difference between a manager and a leader as most people would consider them t o be the same when in fact they are NOT!
According to Bennis & Nanus (1985), a manager is someone who makes the workers perform more efficiently. On the other hand a leader is someone who is effective and motivates a workforce and inspires them in achieving a certain goal.
So as you can see there is a clear difference between the two and this is why a leader is so important in an organization to guide the workforce towards efficiency and innovation in the long run.
Based on this I have come to realize how important it is to be an effective leader for the success of an organization in the long run. Organizations tend to focus on the cost of production and other such factors in order to make the organization more effective.
In my opinion through all the literature I have gone through there is a reason why the behaviour of the workforce and its contribution to the organization is so important. The workforce should be able to contribute to the organization in order for innovation and efficiency to come about. And this is only possible is the leader creates an environment within the organization which would promote efficiency and learning within the organization.
There are several types of decisions which an organization can make in order to safeguard itself in the long run against external factors which are not in their control such as the business environment, market trends, customer preference, interest rate fluctuations etc.
These decisions can be categorized as:
- Trial and error
- Made in stages
It basically depends on organizations which one they choose to apply to their organization.
The style of making a decision used by the WaveRiders Company was one which was systematic in its approach. My team and I tried to take in to consideration all the options in front of us such as the market condition, location of factory and the various other factors.
Through this systematic approach the NPV and Decision tree methods of estimating the ideal location were very useful. These methods gave us a clear idea of which location was the most ideal in terms of long term profit and avoiding risk of failure.
The marketing of the new product was considered very crucial to the success of the new product as it is necessary to make a product known to the potential customer. Several methods were considered and the best ones were chosen using the GRID analysis and SWOT analysis.
All in all I feel that to make a robust and effective decision for the long term benefit of ones company it is crucial to look at the numbers, market conditions, economic conditions and have the ability to perceive where the companies standing will be in the future.