The Liquidity Trap
The liquidity trap is a concept which is believed by some economists whereas it is not believed by the others. Many great economists like Keynes, Tobin and Schumpeter have made no mention of the liquidity trap in their works. It was widely believed to be a discredited concept, one that had no application in the […]
Learning Theories: Classical Conditioning, Operant Conditioning and Learning by Observation
The concept of learning is quite comprehensive as it covers a broad range of activities. In many books, the theories of learning are also regarded as kinds of learning. The theories of learning are an organized set of principles that explain how individuals attain, retain or recall the learnt knowledge. Learning theories establish the conceptual […]
Voice of Customer (VOC)
The Voice of Customer is not a tool that is used in Six Sigma process. It is the underlying philosophy of the Six Sigma process which makes it ensures that the entire process improvement exercise is based on the need of the stakeholder group that matter most i.e. the customer. The Voice of Customer is […]
Importance of Relationship Marketing
The recent trend seen in the Organizations across the world is that they are faced with changing times and the changing economies and business is forcing them to change themselves too. Organizations today have no option but to change and evolve. The change has to do with every aspect of business and not limited to […]
What is Decision Making?
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 […]
True leaders have a vision, that is, they have a potential to view the present as it is and to invent a future culminating out of the present. A leader with a vision can foresee the future and can remain in the present.
A vision is an end towards which leader can spend and direct his energy and resources. Leaders share a dream and a path which the employees want to share and follow.
Leadership vision is not restricted to organizational written mission statement and vision statement. It is well demonstrated in the actions, beliefs and values of organizational leaders.
“If there is no vision, people cannot survive.” This is applicable both in business as well as in life. Leaders who lack vision cannot succeed in life and they work in a standard and monotonous manner.
Vision is not a fantasy for leaders; rather it is a truth that has yet to come into practice. So as to achieve vision, a leader must exert special extra efforts and have robust confidence and devotion to realize the vision.
Vision acts as an internal force propelling a leader to act. It provides a leader an objective. The consistent existence of a vision makes a leader progressive despite various hardships and obstacles. Vision is a bond that unites the individuals into team with a mutual goal.
Recognition of a leader’s vision by the organizational employees is very essential as it makes the employees well aware of what the organization is trying to achieve.
Vision has the strength to move the employees out of monotonous work life and to place them into a new challenging and dynamic work. Vision must be:
It is a leader who moulds, interprets, communicates and represents the vision. Vision is a portrait and depiction of what a leader aspires his organization to be in long-term.
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