There are two parts that will be described: what type of leader I believe and would like to become and how ready I am to lead others.
There is a complicated situation because there are different styles of leadership. A leader can be influenced by different perceptions, circumstances and reactions of followers.
According to Carrie Gilstrap ” Leadership is in the eyes of other people “( Kouzes, Posner,2007: 27). Therefore, the role of followers is a process to become a leader and influence to the rest depending on what type of influence of leader is every person.
The democratic leader who focuses on making easier group decision making , maximising collaboration and supporting empowerment ( Burnes, 2009:494). Therefore, it is concerned about the development of the team and tries to promote dialogue and participation of all members of group to achieve the best performance possible for the team.
There are people who might not be motivated, and this kind of leader can find the problem. This leader empowers a clear vision to have the same direction for all in the group. Supporting an emotionally balanced approach to leadership encourages participation to obtain the targets.
There are different styles of leadership, and there is no best style of leadership ( Mullins, 2013:396). The different leadership styles depend on the leader´s abilities and skills. The transformational leadership is a combination of charisma, the stimulation of one´s followers and concern for them (Miner 385:365). Therefore, the transformational leader has some characteristics of a democratic leader because the transformational leader can empower his or her followers to commit to the leader´s goal through motivation and the inspiration ( Beheiry, Chong, Haas, 2006:384). It is very difficult to implement a transformational leadership approach because it depends on the abilities of the leader, and the leader´s emotional intelligence skills that he or she can build a positive relationship with his or her followers (Harms, Crede,2010).
It has been observed that the democratic and the transformational leadership styles are very difficult to find in the financial services field (Weese, 2005: 45).
Warren Buffett is a leader who inspires me because he knows how to admit mistakes, and he will use them as knowledge for the future. For instance, he bought Dexter Shoes for 400 million and it disappeared quickly. So, Warren learned that companies can only earn high profits when they have some sustainable competitive advantage over other firms (Milles, 2004: 145) Moreover, Buffett is a democratic leader because he encourages participation and discussion within Berkshire Hathaway. Moreover, he knows how to convince employees to follow him (George, 2006). In addition, Buffett is an emotionally intelligent leader who listens to his followers while communicating his vision, so Buffet also shows features of transformational leader (Buchanan, 2012: 74).Therefore, I would like to look like Buffet because it is the perfect example of an effective leader to admire.
I am a ready to lead because I have many desirable characteristics. These include perseverance, optimism, sociability , consistency, flexibility , availability to followers, and reliability, as well as the confidence to lead diverse groups thanks to my international experience. Moreover, although I lack experience in the finance industries, I am working on this. I am also working to improve my communication skills through my MBA as well.
( That is the same feeling Warren Buffet because he used to be terrified of public speaking)
The various feedbacks that I received from my colleagues were that I allow a fair discussion among my team members, am resourceful and diligent teammate; a good motivator, a great leader , highly intellectual with a very academic outlook when taking up a project; a team player and an excellent facilitator. However, they recommended that I improve my presentation skills.
If I enhance my communication skills, gain experience, and develop my transformational leadership capabilities ( Harms, Credé,2010) , it will enhance my style and potential to be a l leader in the future.
To sum up, my identification as a democratic leader is due to my focus on maximising participation, supporting empowerment , listening actively and facilitating group decision making. These values are very critical to improve organisational outcomes . Nonetheless, I aspire to develop myself into a transformational leader in order to improve my capabilities and the outcomes. While I feel confident to lead as a democratic leader, I am also aware of the need to continue to develop to ensure effective long-term leadership results.
The following video explains the participated leadership
The video explains how collaborative leadership involves and engages team members to optimise the performance of the group and make sure that there is good communication among their employees.
LIST OF REFERENCES
- Burnes, B (2009) Managing Change. 5th edn. Harlow: Financial Times Press.
- Buchanan, L- (2012) ´13 ways of looking at a leader´ Inc 34 (5),74-76. available from < http://web.a.ebscohost.com/bsi/detail/detail?vid=8&sid=146283d1-211c-4610-9895-80304abfa614%40sessionmgr4005&hid=4112&bdata=JnNpdGU9YnNpLWxpdmU%3d#db=bth&AN=76166640>%5B24 June 2015]
- Chatni (2015) Effective leadership [Item] available from <http://chatni.net/effective-leadership-skills/ > [25 June 2015]
- Beheiry, S.M.A, Chong, W.K., Haas, C.T. (2006) ´Examining the Business Impact of owner commitment to Sustainability´. Journal of Construction Engineering and Management. [online] 132 (4), 384-392. available from < http://web.a.ebscohost.com/bsi/pdfviewer/pdfviewer?sid=a51441ce-763a-4e79-853e-6e00ec6ac246%40sessionmgr4005&vid=4&hid=4112> [23 June 2015]
- George, B (2006) ´Truly Authentic Leadership´ US News & World Report 121 (16),52-54. available from < http://web.a.ebscohost.com/bsi/detail/detail?vid=3&sid=146283d1-211c-4610-9895-80304abfa614%40sessionmgr4005&hid=4112&bdata=JnNpdGU9YnNpLWxpdmU%3d#db=bth&AN=22831976> [24 June 2015]
- Harms, P.D, Credé, M ( 2010) ´Emotional Intelligence and Transformational and Trasactional Leadership: A Meta- Analysis´ Journal of Leadership and Organisational Studies 17 (1), 5-7. available from < http://jlo.sagepub.com/content/17/1/5.full.pdf+html> [24 June 2015]
- Kouzes, J. Posner, Z (2007) The Leadership Challenge. 4th edn. San Francisco: Jossey-Bass.
- Miles, R. (2004) Warren Buffett Wealth: Principles and Practical Methods used by the World´s Greatest Investor [online] Hoboken: John Wiley & Sons. available from < https://books.google.co.uk/books?id=OOZWykmT-KUC&pg=PA145&dq=warren+buffett+mistakes+dexter+shoe&hl=es&sa=X&ei=tVCMVeKOCIPR7QaQwa_gAw&ved=0CCAQ6AEwAA#v=onepage&q=warren%20buffett%20mistakes%20dexter%20shoe&f=false> [24 June 2015]
- Miner, J.B. (2005) Organisational Behaviour I: Essential Theories of Motivation and Leadership. Abingdon: Routledge
- Mullins, L.J ( 2013) Management and organisational behaviour . 10th edn. Harlow: Pearson.
- Seattle Pi (2015) Types of College Classes required to be a C.E.O [Item] available from < http://education.seattlepi.com/types-college-classes-required-ceo-3025.html> [25 June 2015]
- Weese, S. (2005) ´When Leadership Matters: The Leadership Gap in Financial Services´ Journal of Financial Service Professionals 59 (6),43-49. available from < http://web.a.ebscohost.com/bsi/detail/detail?vid=11&sid=a51441ce-763a-4e79-853e6e00ec6ac246%40sessionmgr4005&hid=4112&bdata=JnNpdGU9YnNpLWxpdmU%3d#db=bth&AN=18716421> [24 June 2015]