LEADERSHIP :- Meaning, Features, Importance, Leadership style and Qualities of good leader

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In this article we will discuss about Leadership any it is important in an business organisation. Also discuss about different style of leadership and qualities of good leader.




Meaning of Leadership :


Leadership is a process ,which provides direction to the people and influence them for the achievement of specific goal.It is also an activity in which one person leads another for working effectively and efficiently.

According to the Marry Parker Follet, “The power of leadership is the power of integrating. The leader stimulates what is best in us he unites and concentrates what we feel only groupingly and shatteringly. The person who influences me most is not he who does great Deeds, but he who makes me feel that I can do great deeds.”


Definitions:


Leadership has been defined by different persons in different ways .

1). Dubin, R,″Leadership is the exercise of authority and making of decisions.

2).  Koontz and O’Donnell, Leadership is the ability of a manager to induce subordinates to work with confidence and zeal.

3). Allford and Beaty, Leadership is the ability to secure desirable actions from a group of followers voluntarily, without the use of coercion.

4). George R. Terry, Leadership is the activity of influencing people to strive willingly for group objectives.

5).  Peter Drucker, Leadership is not making friends and influencing people, i.e., salesmanship it is the lifting of man’s visions to higher sights, the raising of man’s personality beyond its normal limitations.


Features of Leadership :

  1. Ledaership indicates the ability of an individual to influence others.

  2. It tries to bring change in behaviour.

  3. It is the willingness of people to follow that makes person a leader.

  4. Inspire people to achieve common goal.

  5. It is a continuous process.

  6. It show relation between leader and followers.

                   Importance :-

  1. Helps in inspiring and guiding the employees -                      leadership managers can inspire and guides the subordinates. A good leader influences the behaviour of an individual in such a manner that he voluntarily works towards the achievement of enterprise goals.

  2. Co-operation between members -                                                  Effective leadership increases the understanding between the subordinates and the management and promotes co-operation among them

  3. Needed at all levels of management -                                                      Leadership plays an important role in management at required at all level of management. It inspire them to achieve common goal.

  4. Improve productivity -                                                                               It also helps management in productivity by changing the mind of people and inspire them for common goal.


  5. It Acts as a Motive Power to Group Efforts - 


    Leadership serves as a motive power to group efforts. It leads the group to a higher level of performance through its persistent efforts and impact on human relations.

Leadership Qualities of a good leader 


Some of the qualities of a good leader are as follows:




1. Good personality.

2. Emotional stability.

3. Sound education and professional competence.

4. Initiatives and creative thinking.

5. Sense of purpose and responsibility.

6. Ability to guide and teach.

7. Good understanding and sound judgment.

8. Communicating skill.

9. Sociable.

10. Objective and flexible approach.

11. Honesty and integrity of character.

12. Self confidence, diligence and industry.


5. Different Types of Leadership Styles :




Different types of leadership styles exist in work environments. Advantages and disadvantages exist within each leadership style. It helps management to achieve their common goals by inspiring people.Some companies offer several leadership styles within the organization, dependent upon the necessary tasks to complete and departmental needs.





Laissez-Faire


A laissez-faire leader lacks direct supervision of employees and fails to provide regular feedback to those under his supervision. Highly experienced and trained employees requiring little supervision fall under the laissez-faire leadership style. This leadership style hinders the production of employees needing supervision. The laissez-faire style produces no leadership or supervision efforts from managers, which can lead to poor production, lack of control and increasing costs.



Autocratic


The autocratic leadership style allows managers to make decisions alone without the input of others. Managers possess total authority and impose their will on employees. No one challenges the decisions of autocratic leaders.  This leadership style benefits employees who require close supervision. Creative employees who thrive in group functions detest this leadership style.



Transactional


Managers using the transactional leadership style receive certain tasks to perform and provide rewards or punishments to team members based on performance results. Managers and team members set predetermined goals together, and employees agree to follow the direction and leadership of the manager to accomplish those goals. The manager possesses power to review results and train or correct employees when team members fail to meet goals. Employees receive rewards, such as bonuses, when they accomplish goals.



Transformational


The transformational leadership style depends on high levels of communication from management to meet goals. Leaders motivate employees and enhance productivity and efficiency through communication and high visibility. This style of leadership requires the involvement of management to meet goals


Participative


Participative leadership values the input of team members and peers, but the responsibility of making the final decision rests with the participative leader. It boosts employee morale because employees make contributions to the decision-making process. This style meets challenges when companies need to make a decision in a short period.






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Classification and Registration of Companies and types of companies

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In this article we will study Classification and Registration of Companies and types of companies. we will discuss about different types of companies, which can be classified on the basis of formation, liability, ownership, domicile and control.

Introduction to Company and Companies act 2013

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in this article we will study about Introduction to Company and Companies act 2013. we will discuss about The companies act 2013 and also the characteristics of a company, meaning and features of a company.

Memorandum of Association : Meaning, Features, Importance and Content of Memorandum

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In this article we will discuss about  memorandum of association which  is the one of the most important document required by company  for formation  and registration with registrar , also defines the scope of activities of the company and contains the condition upon which the company is formed.

Directors : Powers of Board of Directors and Personal Rights

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In this article we will study Directors : Powers of Board of Directors and Personal Rights. we will discuss about Powers of company directors, Managing directors according to companies act, 2013 and also discuss their personal rights in a company and Power and rights are required to company Directors.

Cash Flow Statement Meaning, Objectives, Limitations and Format

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In this article we will study about cash flow statement. We will discuss the meaning of cash flow statement with objectives. Also we will discuss the Limitations and Format of Cash Flow Statement.

Meaning of Cash Flow Statement :


Cash Flow Statement refers to that statements which shows inflow (receipts) and outflow (payments) of cash in an organisation during a particular period.It is a source of cash during a particular span of time.It analysis the change between two balance sheet date. The term cash  here stands for cash and cash equivalents. Cash Flow Statements includes those items which effect cash.

Final Accounts: Trading and Profit & Loss Accounts, Balance sheet

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In this article we will study about Final Accounts: Trading and Profit & Loss Accounts, Balance sheet. we will discuss trading and Profit & Loss Accounts and also discuss  about Company Balance and also discuss that why trading and Profit & Loss account  and Balance sheet is important in company and different formats of Final Accounts. An income statement or profit and loss account (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statementstatement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statements of a company 

Concept of Training and Development

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In this article we will study the Concept of Training and Development. we will discuss about training as well as development of employees in an organisation and also discuss why training is important for company employees and how it helps in development process.  

Concept of Selection : Meaning and its Process

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In  this article we will study about Concept of Selection : Meaning and its Process. we will discuss about Selection, what it mean and process of it. Also discuss about stages which comes under selection process and how it is helpful for an organization in selection process.


Concept of Management Plan - Meaning, Types and Importance

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In this article we will study Concept of Management Plan, its meaning and its types. We also discuss that how plan is important to an business organisation  and tell that how goals are going to be met.




Concept of Management Plan


Plan is a document which provides guidelines that how goals are going to be met and its also provides outline of organizational goal. It is a specified action that helps organization to achieve its objectives.There are many more plans to which helps organisation to meet its objectives but logical plans , objectives organization could be easily achieved.

Single Use Plan -

Single use plans are that plans which are use for single time. These plans are designed to achieved particular plans and these are once achieved will not reoccur in future. These are made to meet unique situations. The time period of single use plan is depends upon the activity for which they made.If these plans are used, they are reused.

Features of Single Use Plans :

  1. Single use plans are used only once.

  2. Prepared for specific demand.

  3. These are discard when situation is over.

  4. Every time new plan is prepared for new situation.






Standing Plans -

Standing plans are that plans which are made for repeated use and these plans are not over with single use.These plans focus repeated situations which occur repeatedly.Standing plans are made one but used for long period of time.Standing plans is updated time to time and helps organization to meet its objectives.

Features of Standing Plans :



  1. Standing plans are used for more than one time.

  2. Recurring nature.

  3. Stable in nature.

  4. These plans act as guidelines for smooth functioning of the organisation.



                                    Types of Plans :-





1). Policies -


Policy can be defined as organisation general response towards a particular problem or situation. An organisation make several policies to handle its problem in its own way . Policies are made at every situation because it needs at every level of management and to overcome from every situation they have different situation.

2). Procedure -


Procedure is also important document holding steps for handle future conditions. It can be defined in exact manner  that helps at every stage to tackle situation easily.Procedures are made common for all the departments to co-ordinate their activities.

3). Rules -


Management required various rules which helps them to done their work effectively .These rules must followed by the organisational employees but if they are not following rules management took action on employees.Rules are spelt out  to create the organisational environment of discipline.

4). Programmes -


Programmes are the combination of goals, policies, procedures and rules. When all these are together they form program.They are made to get systematic workings of an organisation. Programs are also made for different levels, like top level, middle level and lower level.

5). Methods -


Methods are the systematic way to doing jobs or day to day works.Management decided in advance that how work has be done and confusion and comparison  will not be possible.

6). Budget -


Budget is the statement of expected result expressed in numerical terms. In budgets results are measurable  and most of the time these are  financial in nature but it does not means that company prepared for financial budget.



So we have studied the concept of management plan and also we discussed the meaning of plan with its features. We also discussed why it is importamt for an organisation. For any query please comment below.








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Methods for Calculation of National Income

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In this article we will study Methods for Calculation of National Income.. We will discuss different formulae of Calculation of National income

Planning Process and Steps involved in it

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Theory of Demand and Law of Demand

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In this article we will study Theory of Demand and Law of Demand. we will discuss about Market Demand, meaning of demand, relation of demand  and price and also discuss about factors which affect market demand.

In economics,Demand refers to  the desire of the people to buy a commodity backed by willingness and ability to purchase  at certain price. The relationship of price and demand is inverse, it means if price of the commodity increases demand will decrease and vice-versa.

Planning : Meaning, Features, and its Importance

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In this article  we will study Planning : Meaning, Features, and its Importance. we will discuss about Planning, Its meaning ,features and importance of planning. All organisations whether it is government, private or small business but it required planning.For achievement of goal they decide what,how and when to do they do planning.

Capital Market Instruments : Equity shares, Preference shares, Sweat Equity

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In this article we will study Capital Market Instruments : Equity shares, Preference shares, Sweat Equity. We will discuss about Capital Market, its meaning and some basic Instruments of capital market and also study that how they promote Capital Market.

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In this article we will study Economics, Economy and Central Problems of Economy. We will discuss about our economy, its meaning and some basic concept of economy and also study that how economy problems are arises and how to overcome with these problems.

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DIRECTOR : Meaning, Position, Appointment of directors

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In this article we will discuss about DIRECTOR : Meaning, Position, Appointment of directors. we will study the meaning of director, position of directors and appointment of directors. 

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