Margin Mechanism in Exchange Traded Derivatives
When it comes to exchange traded derivatives, one of the first things that need to be understood is the margin mechanism. Since most people that use exchange traded derivatives also use leverage, this is the procedure that they have to follow. The process may seem to be complicated. However, it is one of the wonders […]
The Promise and Peril of the Digital Economy
Much is being said and written about the emerging digital economy with all its promise of techno-utopia and the perils of technology taking control of our lives. Indeed, while some experts have cautioned against surmising that technology would solve all the problems of humankind and lead us into a future of abundance, the mainstream view […]
The True Cost of Raising Funds
A startup is considered to be successful when it is able to raise money. The fact that a startup was able to convince potential investors to open their wallets is considered to be proof that the business model is stable. The fundraising aspect can be considered to be quite thrilling and even glamorous. However, it […]
Emotional Competence Framework and Change Management
The term Emotional Competence is treated as a buzzword in the present scenario and several studies, as well as investigations, have been undertaken to explain the relevance of Emotional Competence in determining both individual employee and organizational success. Emotional Competence plays a crucial role in improving the quality of our life and individuals with high […]
Components of a Process
Events: Events are the conditions which must exist for the process to be performed. It is something that happens as opposed to something that is done on purpose. It can think of as the effect which occurs after sufficient cause is provided. Each process starts and ends with an event. Tasks: A task is the […]
Leadership is a significant aspect of management. In order to ensure organizational success, co-operation from subordinates as well as greater efficiency, it is important for a manager to be a great, effective and a true leader. An effective and true leader is one who does not put himself before others. He/She is very humble, deferential and altruistic.
The required aspects of effective leadership are as follows:
Leadership is boosting an individual’s performance to a greater benchmark, the developing of an individual’s personality crossing its standard boundaries. It is a combo of mindframes, traits, skills, and knowledge. Leadership means adhering to the following principles:
An effective leader is one who meets the job requirements, team requirements as well as individual requirements. While concentrating on the job, a leader would synchronize the departmental goals with the organizational goals.
An effective leader will ensure that the employees have the required skills and competencies for performing the job effectively and efficiently.
He/She would provide the employees the essential resources for performing the job such as time, knowledge and equipment. He/She would ensure that employees have no difficulty in performing the tasks assigned to them. And finally, an effective leader would review progress and give the employees a feedback of their performance.
When a leader is focusing on people, he must be compassionate and empathic. He/She should listen to the employees with understanding. He/She must respect their views and ideas. He/She must train and coach them and make an effort to eliminate unnecessary obstacles from the employees’ work responsibilities.
Finally, when an effective leader focuses on team, he should coordinate team’s efforts. He/She must celebrate team’s success. He/She should review and promote friendly and social environment. He/She should develop a team spirit and achievement sense among the employees as a team.
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