Marketing Research Assignment: 21st Century Leadership (Research Paper Sample)

21st century leadership
University’s Name
Submitted by Names:
Tutor:
Date:
Globalization
According to Webb, Vulliamy, Sarja, and Hämäläinen, (2006), globalization has a substantial impact when it comes to leadership practices. Globalization impact leadership practices in various ways such as increased customers and markets, competition, international workers transfer and better opportunities. Additionally, globalization influences leadership regarding business operations and how business activities are conducted, making leadership even more complex. The main reason behind this is that there are different leadership styles in the various nations. Anderson (2008), State that, for leaders to be successful, it is essential that they be aware of the cultural difference, integrity, courage, and awareness that exists in the 21st-century global workplace. In this globalization age that we are in, changes and transition are the most significant problems that businesses face. Therefore, leaders have to become much aware of globalization.
Increased competition
Competition has become part of the business, especially in this 21st century with many organizations going beyond their limits just to keep up with the competition. When it comes to leadership, some factors that determine a great leader has not changed. As Greene and Haber (2016) note, the abilities to innovate, be a strong role model and execute roles are qualities that are still needed in the 21st century. However, (Bleiklie and Lange (2010) states that a 21st century leader is expected to keep up with increased competition by identifying opportunities before competition arises.
Demographic Changes
The main reasons why organizations need to adapt their practices so that they can meet needs of the diversified labor markets are demographic changes. The ever-changing demographic profile of the larger population only means that businesses have to come up with better strategies that meet the desires and need of any country (Washington, van Schalkwyk, You, Shina and Samuelson 2010). The changing in family structure, the aging population, diversity in labor force and less social service are what many leaders have to deal with in the 21st century.
Definitions scholars debated on the topic
The 21st-century manager who is now a boss and a leader is living in a significantly different environment as compared to the manager in the other late centuries. The 21st-century leadership is recognized through the competencies and attributes that a leader must have to deal with the challenges and trends that always arise in the modern business environment. Those skills and attributes are as consequent of the classical and contemporary leadership approaches.
To fully understand the various definitions given to the 21st century kind of leadership, it is important to consider some of the research done the notable academic in the field of business leadership Landy and Conte (2016) did a research on “developing the 21st century leader” where they noted various trends that are related to the 21st century leadership. The major trends they realized are innovation trends, technological improvement, retaining talents virtual workplace structure, expanding to newer markets, workforce diversification and business growth among others (Landy and Conte, 2016). On the other hand, Shoemaker and Reese, (2013), on the research conclude that there are five major trends in the 21st century which are growing global competition, working-age population declining, global workforce dominated by the generation Y and Z and finally population increase.
Different authors have different perspectives when it comes to 21st-century leadership. According to Hanna (2013), leaders in the 21st century are the individuals who have to shift and combine knowledge to come up with innovative services or products much faster as compared to their competitors. Hanna (2013) also suggests that through innovation, all the other trends in the 21st century can be addressed. Innovation is therefore key for the modern manager to succeed. It is vital that managers come up with ideas that are innovating in nature to ensure that their business can make it in the 21st century.
5.2 Key themes/theories
Diverse issues bring different leadership competencies
The diverse issues are widespread in the 21st century, and as Eagly and Chin, (2010) notes, leaders have to come up with various leadership dimensions to appropriately deal with these varied issues. The Greatest leaders are the ones who overcome different issues using their leadership skills since they have strong, multidimensional competences (Eagly and Chin, 2010, p.216). Additionally, effective leaders are the ones who also incorporate other professionals with their multidimensional competences so that they can have the same vision.
The digital revolution changes leaders and leadership practice in the entire globe
Leader’s roles when it comes to decision-making and leader’s practices are significantly transformed in the 21st century by digital transformation. A study done by Sheninger, (2014) showed that 24 percent of the individuals in that study believed that technologies that are used by managers or leaders significantly mage speed and flow of information. About 16.4 percent of participants said that the use of digital platforms as such social media is also significantly rising when it comes to leadership in the 21st century. Then 13 percent of the participants believed that the technologies used in leadership aids in promoting communication between leaders and their followers. Then about 11 percent of the participants believed that digital revolution assists in solving the most escalating crisis (Sheninger, 2014). Digital revolution is hence to not to be ignored.
Outstanding leadership is global, complex and multidimensional
Lloyd-Walker and Walker (2011) Say that leadership in the 21st century should be global, complex and multidimensional whereby the leaders should connect skills, traits behaviors and structural and cultural factors. On the other hand, Joseph and Winston, (2005) say that issues to do with multidimensional include relationship building, communication management, team collaboration, self-insight and ethical orientation.
Future leaders Holy Grails are self-insight and soft skills
According to Jaques (2017), self-insight and soft skills are vital components when it comes to the enhancement of measurement skills. Change management skills, emotional intelligence, conflict resolution capabilities, better listening and cultural sensitivity, are the soft skills a leader should have (Jaques 2017). Additionally, it is important for leaders to focus on various changes such as measurement standards, enforcement of ethical codes, accreditation, and global education curriculum.
5.3 Potential Applications and Implications:
When considering the potential practical applications and implications, various business organizations in the 21st century have fully utilized various themes and theories in their organizational structure (Lloyd-Walker and Walker, 2011, p.390). Notes that it is important for managers in the 21st century to have and maintain healthy relationship with the employees, be creative at all times, have ability to navigate, be empathetic, correct and learn from their mistakes, present a win-win situation for the employees and the stakeholders, be excellent in technological and digital aspects and also pay attention to details that may seem unimportant to some. By this, the leader will be able to face the dynamic 21st-century business environment.
3. Conclusion and Recommendations
The findings of the review indicate that there is a lot of expectations regarding the competencies for the modern day leadership as compared to the classical leadership. Some changes included the need to fit into the industry dynamics, increase in the competition and the issues such as the externals environmental propelled changes. The individually pro...