Leadership within a business environment (Essay Sample)

Leadership Within A Business Environment Student’s Name Institutional Affiliation Course Instructor Instructor’s Name Due Date Leadership Within A Business Environment In today’s business environment, the demand for effective leadership is becoming one of the critical considerations for optimal performance and productivity. In retrospect, leadership help executives set clear goals, establish strategies for achieving challenging goals, help outperform potential competitors, and inspire team members. Leaders provide direction for members guiding them on where the organization is headed to achieve the set goals. An effective leader shows team members how to effectively execute their responsibilities with regular supervision to monitor progress and reward the best-performing individuals. Thus, leadership is a holistic approach regarding its focus and relevance in the management framework of a business. Regarding this conception, it is necessary to explore the aspect of leadership from a rounded view by considering how leadership styles and skills help in setting goals, attaining a competitive position, and creating a unique culture in a business environment. Successful leaders affiliate with different yet valuable leadership styles that positively impact the business environment. Siewiorek et al. (2012) outline different leadership styles leaders employ in a business environment when executing their mandates. The authoritarian approach is a leadership approach leaders adopt in different business environments. According to the authors, leaders utilizing this model are intolerant of differences and challenges. Such leaders rarely engage others in decision-making as they are the primary decision-makers. The directive style is another leadership approach where a leader assumes the position of a prototypal boss. Such leaders make decisions, communicate them with their followers, and expect adherence and effective execution of commands. A shared leadership style is typical in business environments, where leaders engage team members in decision-making. The shared approach compares with the democratic style, characterized by equal participation in corporate discussions. Regardless of multiple leadership styles, leaders are encouraged to adopt transformation leadership, a holistic model in a business environment. According to Hai (2021), a transformational leader motivates workers to improve their performance, which positively impacts the organization. Such leaders provide vision and mission statements that arouse the employee’s pride and determination to execute their responsibilities to achieve shared goals. Thus, through a transformational approach, organizations realize their objective in sophisticated business environments. Leaders using this style also inspire workers by communicating their expectations and utilizing symbols to motivate employees. Nonetheless, it also provides an intellectual capacity through creativity, excellent decision-making, and problems solving. Regardless of such benefits, the transformational leadership style is disastrous when combined with liberal approaches such as the authoritarian approach. Siewiorek et al. (2012) note that authoritarian leaders rarely engage their workers in corporate activities. With increased incidents of globalization and the creation of culturally diverse business environments, leaders are expected to create culturally inclusive environments through the justice perspective. Çelik (2018) establishes a connection between diversity interventions, particularly effective leadership with employee binding. A transformational leadership approach is a convenient model for managing diverse groups in the workplace. Hai (2021) notes that transformational leaders prioritize the needs of their employees without being discriminative, which increases performance through motivation. Çelik (2018) vindicates the transformational leader’s ability to manage diverse groups by employing different leadership attributes. According to the author, transformational leaders are charismatic, prioritize the needs of employees, appreciate individual differences, increase motivation, and create a thriving environment based on trust and respect. In a diverse group, leaders utilizing this approach are proactive in exploiting opportunities and solving problems. Transformational leadership is the foundation of workplace diversity, a pillar of most organizations operating in various business environments. Workplace diversity includes individuals with diverse religious backgrounds, gender, ethnic affiliations, and sexual orientation, where inclusion without being discriminated against is prioritized (Cletus et al., 2018). Transformational leaders encourage group diversity by employing strategies that help hire individuals from different backgrounds. The ultimate goal of this approach is to ensure the hiring of the best talents from different parts of the globe. Many research projects predict that future organizations' success is inclined toward workplace diversity of their ability to inspire new transformations. Cletus et al. (2018) confirm that it is through workplace diversity that companies will procure scarce talents, maximize profit margins, and attain recognizable market share. However, the approach could affect business prospects by creating conflicting gender/lifestyle choices or interfering with workplace communication. However, the benefits of workplace diversity, which transformational leaders inspire, outnumber potential challenges. One of the benefits is embracing excellent critical thinking and problem-solving abilities. Diverse employees from different backgrounds provoke critical thinking, providing a pool of alternate solutions to existing problems that could challenge a company’s competitiveness in a business environment. Also, diversity in the workplace encourages individuals to share their worldviews and experiences, which could impact problem-solving approaches (Cletus et al., 2018). Also, diversity in the workplace encourages positive growth trajectories. Exposing employees to a culture with individuals from diverse cultures and individuals with varying opinions and experiences encourages positive growth and development. Also, diversity in the workplace promotes corporate attractiveness. Companies hiring individuals from different regions globally attract potential investors and other creative minds, stimulating their growth, increasing competitiveness, and attaining a unique international image. Fierce competition in today’s business environment requires adopting excellent leadership approaches. The transformational leadership approach is the ultimate tool for promoting a company’s competitiveness by encouraging innovativeness (Yang & Yang, 2018). The authors draw their conclusions from studies that have revealed the relevance of transformational leadership in promoting creativity and innovativeness in an organization’s competitive advantage. Transformational leaders have an idealized influence, rousing motivation, and logical stimulation, which are perceived to promote creativity. Also, hiring employees from diverse backgrounds and creating a unique organizational culture is beneficial in encouraging creativity and innovativeness, thus addressing competition issues (Cletus et al., 2018). In the organization, introducing new and profitable products is inspired by innovation and creativity during the production phase. Yang and Yang (2018) note that innovation reduces the likelihood of product substitutability, increases purchase power, and improves overall short-term sales. Technological innovation is among the principles of excellent competitive intensity in a dynamic business environment. However, there is a disagreement on whether technological innovation should prioritize product or process when pursuing competitive advantage. Regardless of the conflicting perspectives, both concepts are interrelated regarding market competition since they improve enterprise performance. Product innovation inspires buyer behavior by increasing purchase intention, while process innovation help reduces production costs (Yang & Yang, 2018). The relevance of the two innovative concepts is still unclear since their adoption depends on the external environment, but since the innovative strategies employed by firms depend on the external environment, their relevance is justified. When firms experience severe competition, they employ innovative strategies to introduce competitive products, enhancing stiff competition. However, when competition is moderate, firms rarely embrace either product or process innovation through a transformational leadership approach. Transformational leaders encourage innovation to improve performance and the organizational percept...