Leadership. Big Five personality traits Essay

After studying this chapter, you should be adequate to1. limit draws and contrast loss leaders and management. 2. Summarize the conclusions of indication theories of lead. 3. Identify the central tenets and main limitations of behavioral theories. 4. project contingency theories of lead by their level of support. 5. equalize and contrast charismatic and transformational leadership. 6. Define authentic leadership and show why rough-and- shewy leaders personify ethics and religious belief. 7. Demonstrate the role mentoring plays in our instinct of leadership. 8. Address ch each(prenominal)enges to the efficientness of leadership.9. Assess whether charismatic and transformational leadership generalize across cultures. I am to a greater extent afraid of an army of 100 sheep conduct by a lion than an army of 100 lions direct by a sheep. TalleyrandPrivate Equitys Poster BoyIf its true that mincing guys finish last, there is no better demonstration than Stephen Schwarzm an, chief executive of the Blackstone Group, who says his mission in intent is to inflict pain and kill off his rivals. I want war, he told the Wall Street Journal, not a series of skirmishes. And win in line of credit he has. In 20 years, he has educate Blackstone one of the most profitableand most fe bed enthronization groups on Wall Street, with as notices approaching $200 billion.though these ar not easy times for each investment bank, Blackstone has largely avoided the pitfalls of subprime mortgages and mortgage-backed securities. Some of this strategy major power be considered good fortuneBlackstone invests much more heavily in commercial than in residential real estate. However, some credit is due to Schwarzmans foresight. As he notes, We were cautious in the supposed golden age. We were the least aggressive of all the plentiful firms in the first half of 2007. We were in truth implicated most the high prices of deals and the vast amount of fluidity fuelling the boo m. . . .Things al expressive styles come to an end, and when they do they end badly. not only is Schwarzman smart and driven he desiresthe concern his success has drawn. When he turned 60, his birthday political office staffy might cave in do Caligula blush. The affair was emceed by comedian Martin Short. Rod Stewart performed. Marvin Hamlisch put on a number from A Chorus Line. Singer Patti LaBelle led the Abyssinian Baptist Church choir in a line about Schwarzman. Who staged this event?Schwarzman himself When Blackstone executives prepargond a video tri ande to him to be played at the event, Schwarzman intervened to squelch any roasting or early(a) jokes played at his expense. Schwarzman owns residences in Manhattan (a 35-room Park passageway triplex, for which he paid $37 million), in the Hamptons (a Federal-style house, for which he paid $34 million), in Palm set down (a 13,000-square-foot mansion, which, at $20.5 million, is the slum of the bunch), in Saint-Tropez, an d in Jamaica.I love houses, Schwarzman says. The New Yorker called him the designated villain of an era . . . of absorbed self-indulgence. As you might mean, Schwarzman is not the easiest guy to reach for. While sunning himself at his Palm Beach estate, he complained that an employee wasnt wearing the proper black seat with his uniform. On another occasion, he reportedly shoot a Blackstone executive for the sound his nose made when he breathed. Given his success, his lifestyle, and his combative personality, you might imagine Schwarzman is immune to the ridicule, resentment, and criticism he receives. How does it feel? he asked, and then answered his own question Unattractive.No thought person wants to be reduced to a caricature.1 As Blackstones Stephen Schwarzman shows, leaders lots are not wish well other lot. But what holds them so? Intelligence? Drive? Luck? A legitimate leadership style? These are some of the questions well rein in this chapter. To assess yourself o n another set of qualities that well prove shortly, take the following self-assessment. In this chapter, we belief at what makes an trenchant leader and what sort outs leaders from nonleaders.First, we model trait theories, which dominated the study of leadership up to the late 1940s. Then we discuss behavioral theories, everyday until the late 1960s. Next, we introduce contingency and interactive theories. Finally, we discuss the most contemporary approaches charismatic, transformational, and authentic leadership. But first, allows clarify what we mean by leadership. Self-Assessment library Whats My leadership Style?In the Self-Assessment subroutine library (available on CD and online) take assessment II.B.1 (Whats My Leadership Style?) and answer the following questions. 1.How did you ca-ca on the twain scales?2.Do you imply a leader toilette be both task oriented and people oriented? Do you think there are situations in which a leader has to make a choice between the two styles?3.Do you think your leadership style leave behind change over time? Why or why not? What Is Leadership?1. Define leadership and contrast leadership and management. Leadership and management are often confused. Whats the difference? John Kotter of the Harvard vexation School urges that management is about lintel with complexity.2 easily management brings about order and consistency by drawing up formal plans, designing hard-and-fast organization structures, and monitoring results against the plans.Leadership, in contrast, is about coping with change. Leaders establish direction by growing a wad of the future then they organize people by communicating this vision and exalt them to overcome hurdles. Although Kotter provides separate definitions of the two terms, both researchers and practicing managers frequently make no such distinctions. So we take to present leadership in a way that can capture how it is used in supposition and practice. We define leadership as the ability to knead a group toward the contactment of a vision or set of goals.The source of this limit whitethorn be formal, such as that provided by managerial rank in an organization. But not all leaders are managers, nor, for that matter, are all managers leaders. on the nose because an organization provides its managers with certain formal seriouss is no toast they will lead effectively. Nonsanctioned leadershipthe ability to influence that arises outside the formal structure of the organizationis often as big or more important than formal influence.In other words, leaders can emerge from within a group as well as by formal appointment. Organizations convey fond leadership and strong management for optimal effectiveness. We need leaders today to challenge the stance quo, have visions of the future, andinspire organizational members to want to achieve the visions. We also need managers to formulate detailed plans, create efficient organizational structures, and oversee day-to-day operations. OB Poll Confidence in Business Leaders FallingSource Based on Edelman trust Barometer 2008 (http//www.edelman.com/TRUST/2008/TrustBarometer08_Final.pdf) Trait TheoriesSummarize the conclusions of trait theories of leadership.throughout history, strong leadersBuddha, Napoleon, Mao, Churchill, Roosevelt, Reaganhave been described in terms of their traits. Trait theories of leadership thus digest on personal qualities and characteristics. We recognize leaders like South Africas Nelson Mandela, virginal Group chief executive officer Richard Branson, Apple co-founder Steve Jobs, and American Express chairman pot Chenault as charismatic, enthusiastic, and courageous.The search for personality, social, physical, or intellectual attributes that diverseiate leaders from nonleaders goes back to the earliest stages of leadership research. primaeval research efforts at isolating leadership traits resulted in a number of dead ends.A look back in the late 1960 s of 20 different studies identified nearly 80 leadership traits, but only 5 were common to 4 or more of the investigations.3 By the 1990s, after numerous studies and analyses, about the best we could say was that most leaders are not like other people, but the particular traits that characterized them varied a great deal from reexamination to review.4 It was a pretty confusing state of affairs.A breakthrough, of sorts, came when researchers began organizing traits around the Big fin personality good example (see Chapter 5).5 Most of the dozens of traits in various leadership reviews fit under one of the Big Five (ambition and energy are part of extraversion, for instance), giving strong support to traits as predictors of leadership.The personal qualities and characteristics of Richard Branson, chairman of Virgin Group, make him a great leader. Branson is described as fun-loving, sensitive to the needs of others, hard working, innovative, charismatic, enthusiastic, energetic, de cisive, and risk taking. These traits helped the British entrepreneur build one of the most recognized and respected brandsin the world for products and services in the business areas of travel, entertainment, and lifestyle. Jason Kempin/FilmMagic/Getty Images, Inc.A comprehensive review of the leadership literature, when organized around the Big Five, has found extraversion to be the most important trait of effective leaders6 but more strongly related to leader emergence than to leader effectiveness. Sociable and dominant people are more likely to assert themselves in group situations, but leaders need to make sure theyre not too imperativeone study found leaders who scored very high on assertiveness were less effective than those who were moderately high.7Unlike agreeableness and emotional stability, painstakingness and openness to experience also showed strong relationships to leadership, though not quite as strong as extraversion. Overall, the trait approach does have somethin g to offer. Leaders who like being around people and are able to assert themselves (extraverted), disciplined and able to keep commitments they make (conscientious), and creative and flexible (open) do have an evident advantage when it comes to leadership, suggesting good leaders do have key traits in common.One reason is that painstakingness and extraversion are positively related to leaders self-efficacy, which explained most of the variance in subordinates ratings of leader performance.8 multitude are more likely to follow individual who is confident shes going in the right direction. Another trait that may indicate effective leadership is emotional intelligence (EI), discussed in Chapter 4. Advocates of EI argue that without it, a person can have large(p) training, a highly analytical mind, a cause vision, and an endless supply of terrific ideas but equable not make a great leader.This may be especially true as individuals give notice up in an organization.9 Why is EI so unfavorable to effective leadership? A core circumstances of EI is empathy. Empathetic leaders can sense others needs, mind to what followers say (and dont say), and read the reactions of others. As one leader noted, The caring part of empathy, especially for the people with whom you work, is what inspires people to stay with a leader when the going gets rough. The mere fact that individual cares is more often than not rewarded with loyalty.10