leadership & ethical decision making
TRANSCRIPT
Leadership & Ethical Decision Making
Leadership & Ethical Decision MakingJervis Koo - 1080886Joseph Jabin K. F. - 15891372Yan Lee - 158993401
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IntroductionStructure of the PresentationLeadershipTypes of Leadership StylesTypes of LeadersImplicit Leadership PerspectiveIncorporating MentorshipEthical Decision MakingTheories & Models of Decision MakingRational Choice ParadigmEmotions and Making ChoicesHow to Effectively Evaluate DecisionsSuccess and Failure StoriesConclusions and Comments
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Leadership DefinedLeadership is the ability to influence, inspire, motivate and enable others to achieve success for their organization.4
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Types of Leadership Styles
Laissez-FaireNo direct supervisionMinimal feedbackSuitable for highly trained employees
Example: Warren BuffettHe may be the most surprising name among successful laissez-faire leaders. Buffett is known for taking a hands-off approach toward leadership of the many companies he owns, or in which he invests after actively canvassing the industries he favours. Once he makes an investment decision, though, Buffett trusts his managers to know how to achieve the performance he expects
Ref: http://online.stu.edu/laissez-faire-leadership/5
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Types of Leadership Styles
AutocraticDecision making without the input of othersImpose will on employeesSuitable for employees who need close supervision
Example: Ridley ScottIn an industry where box-office receipts measure success, Scott remains one of the few Hollywood directors whose films are profitable and critically acclaimed. A short list of his films includes Blade Runner, Alien, Thelma & Louise, White Squall, Gladiator, American Gangster, Prometheus and his recent Exodus: Gods and Kings. Scott, who began his career as a graphic designer, has a reputation as a perfectionist. Actors are expected to know their lines, positions and cues before the camera starts rolling.
http://online.stu.edu/autocratic-leadership/6
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Types of Leadership StylesParticipativeDemocratic leadership styleValues input of team and peersBoost employee morale
Example: Donald TrumpTrump built a business empire by being more of a director than an authoritarian. He facilitates ideas and encourages others to share information freely so that the best decision can be made instead of one that has a personal bias. He considers the opinions of others into every decision, factors the various outcomes that may occur, and works to increase the collective mind in any choice so that everyone has some skin in the game.
Ref: http://www.adviseamerica.com/famous-participative-leaders/7
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Types of Leadership StylesTransactionalFocuses on performancesResources exchanged for complianceCollectively set goals
Example: Howard SchultzIn 1984, Howard Schultz opened the first Starbucks coffeehouse based on the concept of an Italian espresso bar. Schultz wanted to grow Starbucks, but the owners wanted to stay small. Schultz left and opened his own company in 1985. With the help of investors in 1987, he bought Starbucks and merged the two companies. By 2006, Schultz was ranked 394 on Forbes magazines list of the 400 richest people in America. As a transactional leader, he was responsible for the vision and implementation of the Starbucks model.
Ref: http://online.stu.edu/transactional-leadership/8
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Types of Leadership StylesTransformationalHigh levels of communicationfrom managementMotivate employees and enhanceproductivity through communicationAgents of change
Example: Henry FordThe characteristics of being a transformational leader are implementing new ideas, constantly changing and adapting to situations. Henry ford was a charismatic leader shown by his popularity by his workers and the public for producing a car affordable to all. Henry Ford lived until 83 years old and died in 1947. His dream was to make A world in which cars are for everyone and with his company Ford achieved this dream with his transformational leadership.
Ref: http://www.money-zine.com/career-development/leadership-skill/transformational-leadership/ 9
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MentorshipIt is an employee training system under which a senior or more experienced individual (the mentor) is assigned to act as an advisor, counsellor, or guide to a junior or trainee.
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Incorporating Mentorship into Daily ResponsibilitiesLeadership by exampleExposing top talents to multiple components of the organizationHelp subordinates make important career decisionsProfessional guidanceDaily staff meetingsTraining and development programmesQuarterly evaluationsAnnual performance-based appraisalsBonuses and incentives
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Types of Leaders
Thought LeadersStretch their followers by helping them envision new possibilitiesThought leaders attract followersand initiate change by the power of their ideas
Example: Steve JobsSteve Jobs was the co-founder, chairman, and CEO of Apple Inc., where he oversaw the development of the iMac, iTunes, iPod, iPhone, iPad, and numerous other innovations. He has been referred to as the Father of the Digital Revolution, a master of innovation, and the master evangelist of the digital age.
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Types of Leaders
Courageous LeadersBravely pursue a vision in the face of considerable opposition and risksCourageous leaders attract followers and motivate people to change by theirwillingness to take risks and stand up for their beliefs and values
Example: Abraham LincolnAbraham Lincoln, the 16th president of the United States, served during the most difficult and dangerous period of our nations history. Even though his life was constantly in danger and his policies were unpopular with many, he steadfastly held to his convictions and governed with strength, fairness, and dignity. On January 1, 1863, he courageously issued his memorable Emancipation Proclamation, which declared the freedom of slaves within the Confederacy.
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Types of Leaders
Inspirational LeadersPromote change by the power of theirpassionate commitment to ideas and idealsInspirational leaders attract followers and motivate people to change by the power of their passion and their strong convictions
Example: Martin Luther King, Jr.Martin Luther King, Jr., was an American clergyman, activist, and leader in the African-American Civil Rights Movement. He is best known for his belief in nonviolent civil disobedience. His words and actions have inspired many people to speak up and stand up for whats right.
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Types of Leaders
Servant LeadersCare deeply about peopleServant leaders attract followers andmotivate people to change by helping to remove obstacles that are in the wayof their growth and development
Example: Mother Teresa Servant leaders attract followers and motivate people to change by helping to remove obstacles that are in the way of their growth and development.
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Implicit Leadership Perspective
Leadership PrototypesIndividual perspective of leadersEffective leadership relative to individuals
Romance of LeadershipThe belief that leaders make a differenceSupport perceptions through fundamental attribution error
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Ethical Decision MakingReal Life Example: Bill Gates
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The battle against Netscape
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Ref: http://www.theguardian.com/global/2015/mar/22/web-browser-came-back-haunt-microsoft18
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Bill Gates court trial: US Govt. vs Microsoft
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Ethical Decision MakingReal Life Example: Kenneth Lay
http://www.economist.com/node/94009120
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What is Ethical Decision Making?The right thing to doUnethical does not mean illegal
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Model for Ethical Decision Making
Source: http://www.slideshare.net/tresdsdsd/04-ethical-decision-making22
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Rational Choice ParadigmIdentifying, selecting, and applying the best possible alternativeProcess:Identifying the problem/opportunityAnalysis of causesWhat, Why, Where, How, WhoDeveloping/identifying alternativesChoosing the best alternativeRisk propensityRisk factorsImplementationPutting chosen alternatives into actionEvaluationFeedback
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Rational Choice ParadigmProblems:Assumption that people are perfect beingsOther factors affecting decision makingFeelings, Emotions, Mood, Risk, Internal PressureFocuses on logical thinking
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Emotions and Making ChoicesEmotionsForm biases and preferencesInfluenced by moodIntuition (Gut Feeling)No conscious reasoningMaking Effective ChoicesSystematically evaluate alternativesScenario planningDifferent outcomesPros & cons
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Effective Evaluation of DecisionsKnowing where and when to abandon projectDeveloping benchmarks and thresholdsReliable sources for feedbackInvolvement of stakeholdersThose involved in the projectDifference perspectives and inputs
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Ethical Decision Making
The Josephson ModelSource: https://saylordotorg.github.io/text_human-relations/section_09/001ab314a5c3873240787fb578670de3.jpg
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Why are effective leadership and ethical decision making important for managers?
Followers will have job satisfaction and commitmentMore helpful behaviour from followersReduce deviant or unethical behaviour in followersFollowers tend to have more self-efficacyTrickle down effect from top to lower level employeesProtect bottom-line of the company
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Kenneth Lays (Enron) Story Part 2
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Successful Image Turnaround
Bill Gates has executed one of the best image turnaround in recent times.
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Conclusion
Leadership:Types of leadership styles with examplesTypes of leaders with examplesThe implicit leadership perspectiveStories of successful and Failed leadersIncorporating MentorshipEthical decision making:Theories & Models of Decision MakingRational Choice ParadigmEmotions and Making ChoicesHow to Effectively Evaluate DecisionsSuccess and Failure Stories
Implications for Managers:Leads to job satisfaction, commitment, increased self-efficacy, trickle down effect, and protection of business bottom-line.What we have learnt:Importance of leading by exampleNo leadership style is the bestThin line between right and wrong
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If you want a deeper understandingThis presentation is available onlineLink: 32
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Q&AThank you33
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