Cultural Dimensions of Leadership
February 12, 2025
The developed countries are identified by certain parameters like highly developed economy, greater technical infrastructure, high GDP and net income per capita, level of industrialization and also the standard of living of the people. Development and modernization of a state has an obvious and significant impact on its politics, culture and society. Subsequently, these changes […]
The Basel norms suggest that organizations assess their own credit risk internally. In order to do so, they are required to calculate the probability of default, exposure at default, and loss given default. The loss given default is the amount of money that is not recovered in the event of a default. Earlier financial statistical […]
Credit derivatives were created in order to transfer the credit risk inherent in an instrument from one party to another without actually transferring the ownership of these assets. Prior to credit derivatives, there was no mechanism to isolate the credit risk of any financial instrument. Credit default swaps were amongst the first structured finance derivative […]
Crisis refer to unplanned events which cause harm to the organization and lead to disturbances and major unrest amongst the employees. Crisis gives rise to a feeling of fear and threat in the individuals who eventually lose interest and trust in the organization. Crisis Management Model Gonzalez-Herrero and Pratt proposed a Crisis Management Model which […]
Decision-making is an integral part of modern management. Essentially, Rational or sound decision making is taken as primary function of management. Every manager takes hundreds and hundreds of decisions subconsciously or consciously making it as the key component in the role of a manager. Decisions play important roles as they determine both organizational and managerial […]
Leadership and management are the terms that are often considered synonymous. It is essential to understand that leadership is an essential part of effective management.
As a crucial component of management, remarkable leadership behaviour stresses upon building an environment in which each and every employee develops and excels.
Leadership is defined as the potential to influence and drive the group efforts towards the accomplishment of goals. This influence may originate from formal sources, such as that provided by acquisition of managerial position in an organization.
A manager must have traits of a leader, i.e., he/she must possess leadership qualities. Leaders develop and begin strategies that build and sustain competitive advantage.
Organizations require robust leadership and robust management for optimal organizational efficiency.
Leadership differs from management in a sense that:
Leadership, on the other hand, is an art. In an organization, if the managers are required, then leaders are a must/essential.
Leadership sees and evaluates individuals as having potential for things that can’t be measured, i.e., it deals with future and the performance of people if their potential is fully extracted.
The organizations which are over managed and under-led do not perform upto the benchmark.
Leadership accompanied by management sets a new direction and makes efficient use of resources to achieve it.
Both leadership and management are essential for individual as well as organizational success.
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