KEY BUSINESS CONCEPTS AND THEORIES
There is an overarching need for stronger
managerial leadership and supportive culture in today’s corporate industries.
Understanding the approach for such concepts starts with an educational
foundation of key business concepts and applicable theories. Applying
systematic approaches to change implementation, corporate social
responsibility, resource management, and project management can have invaluable
outcome. Further, situational leadership can be executed to properly manage all
aspects of business. Here I demonstrate mastery of knowledge in these and other
key business concepts.
Reflection
My first artifact, The New Style of Leadership, provided me a broad understanding of the evolution of leadership approaches and a foundation for corporate culture. Traditional leadership theories have made some wild suggestions about motivation, behavior, and corporate cultures. As the structure, demographics, and benefits of business have changed over the decades, so have our approach to leading and managing people in global industries. Today, we understand that leadership directly effects employee production, retention, and job satisfaction. Business Administrators not only manage people and processes but engage subordinates to actively participate in leadership growth. Further, it has been concluded that there is a relationship between societal culture, corporate culture, and organizational leadership (Kouzes, Posner 2012).
1.the_new_style_of_leadership.docx | |
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My
second artifact, A CEO approach to
Situational Leadership, demonstrates a mastery for advanced leadership
methodologies and direct correlation to the bottom line. Global demands and
cultural changes have proven how vital leadership growth is to our
businesses. Thus, situational leadership
is undoubtedly one of the single most valuable practices in business. Being
proactive and focusing on details are two key concepts of this type of
leadership. Once a leader is clearly able to establish expectations of details
with their employees, they no longer needed to oversee every aspect of a
project (Prewitt, 2007). Ultimately, altering a plan of execution or viable
solution to address processes, policies, or issues can offer a positive
outcome. Further, fostering internal leaders to follow situational-leadership
practices can create a culture of altruistic teams. I have recently applied
these theories to several projects as I was managing diverse personalities.
Applying situational leadership enabled me to appropriately direct project
components and identify motivational elements. Empowering employees to be
proactive and self-starters also promoted long-term skill development that will
benefit the company and the individuals for years to come.
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My
third artifact, Corporate Social
Responsibility, offers a persuasive approach to an operational focus beyond
the traditional financial measures. Here, I demonstrate an understanding the advantages
of engaging in activities that benefit corporate stakeholders. Corporate Social
Responsibility (CSR) is a significant business concept for all corporations
where decisions are made in the best interests of stakeholders within and
outside of the company. CSR incorporates financial decisions, leadership
methods, environmental concerns, ethical interests, and relationships among
employees, partners, customers, suppliers, and competitors. This balancing act
can be delicate as many operational issues benefit some, but not all. In the artifact titled Corporate Social Responsibility, several companies are highlighted
as contributing to both constructive and detrimental CSR. Each company is
detailed as to not only how or why their impact was significant but also how it
positively or negatively impacted stakeholders. Corporate social responsibility
is not defined by a single charitable initiative, nor is it merely incorporated
into a mission statement. Social
responsibility is a culture practiced by a corporation that encourages
decisions made at every level to be in the best interest of all stakeholders
(Manner, 2011). Thus, applying CSR fundamentals to real-world operations can be
started by implementing small initiatives. Recycling waste, conserving
resources, and responsibly and ethically conducting business, for example,
represent programs exercised within my organization. As it grows, there will be
a great need to incorporate Corporate Social Responsibility fundamentals.
3._corporate_social_responsibility.docx | |
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My
fourth artifact, A Customer Service
Culture, demonstrates the importance of change- management expertise. As analysts
have studied the relationship between human behavior and organizational
success, key business theories operational change management have developed.
Historical practices of change cultivated challenges with human reaction,
distraction, adaptability, rejection, and communication deterioration. Now, a
more calculated process brings goal-oriented strategies and streamlined
processes to managing change. Structured communication, negotiation, training,
and mind shifts combat anticipated obstacles and help maintain a seamless
transition (Jick & Peiperl, 2011). While management must be dependent on
cooperation, support, and professional feedback, a change-management process
can help mitigate risks and ensure implementation is a success. The practice of
change management skills has been important to my career. Recognizing the
diverse (human) reactions to change adaptation has aided my ability to
implement new programs or alter existing plans. This competency has also
increased my flexibility and made me more proactive when dealing with employees
and leadership alike.
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My
fifth and final artifact, Vision,
Mission, and Core Values, presents a clear understanding of the importance
of organizational vision, mission, and core-values in communicating to
employees, investors, consumers, and other stakeholders. A corporate mission,
vision, and core values are the foundation of many businesses. Often confused
with vision, the mission statement reflects what a corporation’s current
purpose is and answers the question of why it is in existence. This statement
should incorporate the products it offers, services it provides, and how it is
satisfying corporate-social-responsibility initiatives. The vision statement
differs from the mission statement as it is futuristic and long-term in nature.
This statement should reflect where the company is headed, its goals for
products and services, and should provide stakeholders with a basic
understanding of the organization’s direction. Finally, a company’s core values
should demonstrate the organization’s most important values and dictate how
stakeholders should interact with the company (Thompson, 2012). Businesses
should ensure core values are aligned with organizational practices and long
and short-term objectives. Using the vision, mission statement, and core values
as clarification, I now have a better understanding of not only the direction
in which my organization is heading, but also my impact on its long and
short-term goals. These will also help orientate new employees to better
understand their role within the company as we grow.
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I
chose each of these artifacts for their demonstration of modern business
progression. Organizations are no longer managed with singular financial goals
or with the anticipation that employees dislike their job. And gone are the
days that individuals’ tenure earn a pension. People and businesses have
choices and as organizations evolve, so will our approach to leadership. Naturally, it was first important to
recognize traditional leadership theories to best understand the foundational
concepts that may still remain in corporations today. However, as behavioral
studies have greatly progressed, so have the approaches to both leadership and
management styles. Applying theories such as situational leadership has proven
that understanding behavioral attributes like motivation and determination will
benefit an organization far more than static, unwavering leadership styles.
While skilled approaches to leadership may benefit management, initiatives in
corporate social responsibility support all stakeholders of an organization. Encouraging
employees to engage in CSR programs can help the triple bottom line: people,
the environment, and financial measures. Change management concepts are far
more a study of human behavior (and reaction) that changing a process. Tactfully
managing the people of change will ensure a much smoother transition. Finally,
vision, mission statements, and core values are no longer repetitive and
uninspiring. Today, these practices are guidelines for a journey ensuring
everyone reaches the same destination. Mastering each of these theories and
business concepts has advanced my leadership strengths and management skills.
Future Learning Goals
I
am fortunate to already be exercising the many of the skills learned from these
key theories and business concepts. Yet, I have found many of the concepts are
easier in writing than in practical application. So, I will be further
developing applicable leadership skills as I progress in my career. Additionally,
I will be taking on a new challenge in learning how to instruct online through
the following courses:
This program will enable me to not only teach college students but lead them by effectively exercising the skills and concepts learned through the MBA program.
- Theory and Methods of Educating Adults
- Teaching Adults
- Classroom Assessment in Education
- Online Course Design, Facilitation, and Assessment
- Practicum in College Teaching
This program will enable me to not only teach college students but lead them by effectively exercising the skills and concepts learned through the MBA program.
References
Jick,
T.D. and Peiperl, M. A. (2011). Managing
Change: Cases and Concepts (3rd ed.). New
York, NY: McGraw-Hill.
Kouzes, J., Posner, B. (2012). The Leadership Challenge: The Five Practices of Exemplary Leadership®
Model. Retrieved from: http://www.leadershipchallenge.com/About-section-Our-Approach.aspx
Manner, M. (2011). CEOs and corporate social performance. In C. Millar, & E. Poole (Eds.),
Ethical Leadership: Global Challenges and Perspectives (pp. 34-35). New York, NY: Palgrave MacMillan.
Prewitt, Matthew. (2007). The Situational Leader. Strategy + Business. Retrieved from:
http://www.strategy-business.com/article/li00042?pg=all
Thompson, A. (2012). Strategy: Core Concepts and Analytical Approaches (2nd ed). University
of Alabama. Retrieved from http://www.bsg-online.com/users/CorporateLobby.html
York, NY: McGraw-Hill.
Kouzes, J., Posner, B. (2012). The Leadership Challenge: The Five Practices of Exemplary Leadership®
Model. Retrieved from: http://www.leadershipchallenge.com/About-section-Our-Approach.aspx
Manner, M. (2011). CEOs and corporate social performance. In C. Millar, & E. Poole (Eds.),
Ethical Leadership: Global Challenges and Perspectives (pp. 34-35). New York, NY: Palgrave MacMillan.
Prewitt, Matthew. (2007). The Situational Leader. Strategy + Business. Retrieved from:
http://www.strategy-business.com/article/li00042?pg=all
Thompson, A. (2012). Strategy: Core Concepts and Analytical Approaches (2nd ed). University
of Alabama. Retrieved from http://www.bsg-online.com/users/CorporateLobby.html