Musk is such a confident leader that he invests his own money on his business projects. This theory too fails to clarify that how competencies supported effective leadership. Why Is It Important. Psychologists and management gurus have identified many leadership styles; some of which have evolved and some that have stayed the test of time. Behavior theory looks at the word "leadership" as a characteristic that one can develop. Heres a roundup of six of our favorite leadership styles along with the strengths, weaknesses of each and examples of leaders who adopted the style. May miss out on finer technical and practical details since they focus more on human relationships3. To keep learning and advancing your career, the following resources will be helpful: Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA). While the skills inventory can provide a starting point to really look at your approach and areas that need improved, its just that a starting point and believe that leadership is too complex for one questionnaire to have a person questions ones abilities to be a great leader. Lastly, reference them in the correct APA formatted Reference section. Might invoke fear among staff, instead of true respect4. Path-Goal theory is a tool for leaders that are flexible enough to adjust their leadership model in order to motivate employees to perform in a certain way. I believe that as situations change and one relates to a particular leadership role will ultimate affect the final grade that one would receive. A business has to be involving, it has to be fun, and it has to exercise your creative instincts, is Richard Bransons quote that is often used to highlight his laissez-faire leadership style.Strengths:1. Leadership has always been discussed at length and the various theories compared for their strengths and weaknesses. Can inspire people to act and move towards goals2. Leadership is a skill that can be learnt. More Approachable Leaders. It promotes employee motivation. Additionally, transformational leaders are often able to motivate and engage employees in the . Leadership theories are schools of thought brought forward to explain how and why certain individuals become leaders. Weaknesses: 1. 1. Can conflict with people who resist change, Examples: Elon Musk (CEO, Tesla), Jeff Bezos (CEO, Amazon), Bill Gates (Former CEO, Microsoft)Key Phrase: Lets dream big and set standardsDescription: These leaders set the pace for their own company and others in the industry to follow. Initially, it is the technical skills that are important, then the human skills and then the conceptual. (2013). (2000) developed a skills model of leadership that involves the following five components: 1) competencies, 2) individual attributes, 3) leadership outcomes, 4) career experience, and 5) environmental influence. Under this theory, the leader or the manager is assumed to be flexible in their style; changing according to the competencies . Let's have a look at the eight major theories, along with their strengths, weaknesses, and examples. Second, it is easily applies. Here are the different leadership theories, including their strengths and weaknesses you should know about: 1. Structured Query Language (SQL) is a specialized programming language designed for interacting with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization. The Great Man Theory believes that the inherent traits that one is born with contribute to great leadership. Please reflect on your leadership knowledge, skills, and abilities and respond honestly to each item on the inventory. I think that is pretty natural while one of these styles maybe more dominant, other leadership styles and traits may feature in the mix! Perhaps, for example, one of your employees has a time management problem. 5 / 5 ( 4 votes ) Every organization, regardless of its size or the industry it operates in, needs an effective leader to run successfully. An Imprint of Esploro Company. But, since they may not always make the right decisions, they must also be willing to learn from their mistakes. Leaders should strive to focus on their strengths rather than their weaknesses. Individuals need three primary skills to lead their followers technical, human, and conceptual skills. 2.does not take situations into account. A strength of past experience was that I acted like a leader and tried helping others succeed in their activities and by doing so I was able to build strategic alliances in the process. Strengths and weaknesses of Visionary Leadership:- The story of Apple is the story of its founder, Steve Jobs. However, it focuses on skills rather than behavior. Firstly, Robert Katz in the Harvard Business review in 1955 and secondly Michael Mumford (and associates) more recently in 2000. California: Sage Publishing, Copyright 2022 The Pennsylvania State University, Servant Leadership: An Effective Leadership Style with a Controversial Name, Transformational Leadership and Social Justice: Two peas in a pod. May curb the creation of future leaders within an organization3. As its name suggests, the theory implies that leadership depends on the situation at hand. He already invested over $100 million of his own money into SpaceX, $10 million into SolarCity, and at least $55 million into Tesla Motors. It is founded on the characteristics of different leaders both the successful and unsuccessful ones. The transactional theory. Skills theory is somewhat similar to the behavioral theories of leadership. The next strength of this theory is that it can be easily learned and it is applicable in many situations such as home life, educational settings, and the workplace. Notesmatic uses cookies. Since no human is omnipotent, strengths-based leadership helps leaders share their weaknesses, making them more approachable. Does not work with large teams and organizations, Examples: Alex Ferguson (Former Manchester United team manager), Margaret Thatcher (Late U.K. Prime Minister), Jack Welch (Former CEO, General Electric)Key Phrase: I direct, you followDescription: These leaders follow a commanding and hands-on style of leadership. Leadership Theory Paper: Assessing Strengths and No matter how challenging the situation may be, a strong-willed leader is able to find inner strength and carry on until he or she overcomes all challenges. Originally published in the 9Lenses Organizational Intelligence Blog. Esploro Company is a research and consultancy firm catering to markets in Asia-Pacific, Europe, Middle East, Latin America, and North America. Hence, it is a stretch to connect advantages and disadvantages to this theory if you ask me. To view or add a comment, sign in, I really like this because I learn different leadership styles. Studies have shown that transformational leadership is more effective than transactional leadership. The theory is used to predict effective leadership. 6. leadership strengths and weaknesses. This model is considerably straightforward because it focuses on a direct exchange process in which the transactional leader provides the rewards while the followers perform the expected . Some leadership theories attempt to explain what differentiates a leader, while some explain how great leaders come to be. STRENGTHS WEAKNESSES The servant leader empathizes with people s/he is leading, and get to understand them. Employee motivation Servant leaders are constructive, persistent, and motivating. This theory highlights five important skills that are important characteristics of leadership. Can sometimes cross the thin line between coaching and micro-managing2. The human skills are related to the ability to work with the humans; what we also understand as people skills. Personally, I was shocked upon completion of the survey at the end of chapter three in Leadership: Theory and Practice, when I learned that I scored only 20 for Human skills and 17 for conceptual skills. The participative approach of leadership has numerous strengths. Use the job description to frame your answer. To view or add a comment, sign in Strengths and weaknesses of Visionary Leadership. We strongly believe that research and consultancy form the backbone of informed decisions and actions. They challenge the status quo by introducing a new way of doing something. Maximize Your Strengths. Fourth, the notion that leadership needs to be adaptive to situations. Creates feelings of empowerment and motivation amongst teamWeaknesses:1. The goal of each transaction is to promote the idea of earning a reward over earning a consequence. Simplicity is a critical advantage of transactional leadership. Schools of thought explaining how and why certain individuals become leaders. It showed that any person could learn and adapt this specific set of skills to become a leader. The company embraces the responsibility of doing business that benefits the customers and serves the greater interests of the community. They include competencies, individual attributes, leadership outcomes, career experiences and environmental influences. It also raises the level of communication . When you also consider the three-skill approach which states that the importance of certain leadership skills varies depending on where the leaders are in management hierarchy (Northouse,p.57) could easily convey why your scores are higher in one section and a little lower in another. It takes an unbiased approach to leadership and allows people from all backgrounds, genders and ethnicities to progress as a leader. Buy-in is Limited. It means that they acknowledge individual people to be their greatest assets and not just mere numbers in their workforce. Thank you for reading CFIs guide on Leadership Theories. Creates feelings of empowerment and motivation amongst team. True visionaries can revolutionize an industry and cater to future markets2. The authentic leadership theory was chosen due to my desire to stay true to who I am and what I stand for. Skills Leadership Theory has been born from the work of two key researchers. A leader is crucial to the success of every team. The theory provides a broader perspective on leadership by including skill-based evaluation. In order words, authentic leadership is grounded on increased self-consciousness of the individual; this state requires time. Emphasis however, always remained on leadership as a skill. . Self-awareness is considered to be one of the key leadership strengths that must be developed by people placed in management positions. Compared with transactional leaders, transformational leaders collaborate with their followers to make decisions and solve problems through the generation, evaluation, and synthesis of different insights and ideas. They do however provide general direction and the tools for goal achievement. Here are some weaknesses that you might select from for your response: Self-critical Insecure Disorganized Prone to procrastination Uncomfortable with public speaking Uncomfortable with delegating tasks Risk-averse Competitive Sensitive/emotional Extreme introversion or extroversion Limited experience in a particular skill or software This idea has the drawback of assuming that every team member is created equally, which isn't necessarily the case. 3.subjective and too long list accounts. However, the importance of other leadership styles has not diminished in any way. What are the weaknesses of the traits approach? Great for creating future leaders3. it identifies the strengths, weaknesses and moral upshot of the trade approach to leadership. Renowned leadership researchers Hodgson and White believe that the best form of leadership is one that finds the perfect balance between behaviors, needs, and context. Can be outdone by other transformational leaders2. While they offer slightly differing views, their models can be seen as complementary as both look at how learned skills influence leadership Skills theory had grown from the flaws of the traits theory. The trick is to fit the right leader to the right situation. Many successful leaders are charismatic. Transformational leadership has the advantage of producing more creative ideas and innovative solutions through collaboration. 3. Transactional leadership believes in keeping the employees under a strict discipline whereas transformational leadership makes it possible for employees to enjoy the maximum authority while shouldering their responsibilities. According to the Great Man Theory (which should perhaps be called the Great Person Theory), leaders are born with just the right traits and abilities for leading charisma, intellect, confidence, communication skills, and social skills. Scholars researching the trait theory try to identify leadership characteristics from different perspectives. This implies that their abilities are innate, not learned. One of its drawbacks is its inapplicability in certain situations. View Leadership Theory Paper Milestone 2- Assessing Strengths and Limitations copy.docx from PSY 7512 at Ashford University. One disadvantage of transformational leadership is that it is not universally applicable. Skills such as analytical thinking, planning, and communication, for example, are crucial when putting teams together. The Situational Theory is similar to the Contingency Theory as it also proposes that no one leadership style supersedes others. Some individuals might find additional collaborative and leadership roles and responsibilities too demanding. What Is Intellectual Humility? In essence, Mahatma Gandhi's leadership style is peculiar for continuous learning and improvement, excellent listening ability, execution effectiveness, proactivity, non-stop self-awareness development, high degree of self-discipline, value-driven vision, holistic perspective in every endeavor, and being open-minded. We aim to empower our readership by delivering concise informative content. What do you all think about mixing and matching these styles? Some additional disadvantages of this theory include: No specific style for different situations. Upon embarking in this journey into leadership as a study, I considered myself to be a proficient leader, able to motivate people, and an organized . Adair leadership theory. Compared with the great man and trait leadership theories or behavioral . As far as effectiveness is concerned, both managerial styles have strengths and weaknesses . However, the servant leadership theory was chosen because of my desire to meet the . A third strength to this approach is that there are different types of styles of leadership and guidelines that can be applied to each specific style and situation. Even though every member of the orchestra can play perfectly by themselves, they will only produce an incompatible melody in the absence of a conductor. Behavioral Theory: Strengths, Weaknesses, and Current Theorists Behavioral Theory Strengths Behavioral theory supports the idea that leadership traits can be learned through development and experience. It implies that the leaders lead through skills to motivate their employees and make them perform. Module 3 - Leadership Theories I -includes a video introduction to the module and five lessons. Can put people off with the amount of risk involved, as they sometimes challenge market leaders2. Teams Need Coaches Not Autocrats. California: Sage Publishing. Take an orchestra, for instance, one that consists of all the best musicians in the world but lacks a conductor. To a great extent, leadership theories have helped form and shape the kind of governance that exists today. Transformational leadership is not a one-size-fits-all leadership style. List of the Strengths of the Transactional Leadership Style. Not one part can stand alone. You can then capitalize on your strengths and work to develop areas identified as weaknesses. Leaders delegate responsibility for the accomplishment of work objectives and hand over decision-making power to their employees. This can be a weakness. There are four basic types of leadership that situational leaders use. Katz and Mumsford theories had the skills theories at their basis. Be it a new way to consume music or to connect with people online, these leaders are innovators in every sense of the word. It also helps them find close collaborators who have the skills they lack and, thus, complement them. Rath and Conchie put forth three tenants of Strengths-based leadership: (1) Effective leaders invest in their followers' strengths, (2) Effective leaders build well-rounded teams out of followers who are not, and (3) Effective leaders understand the needs of followers. qualities are being discussed, makes it hard to focus on. 1. Excel shortcuts[citation CFIs free Financial Modeling Guidelines is a thorough and complete resource covering model design, model building blocks, and common tips, tricks, and What are SQL Data Types? These components can be conceptualized in the diagram below (Northouse, 2015, pp. Hence, cultural context determines the applicability and effectiveness of the transformational approach. (2013). According to it, leaders should always consider the circumstances and respond to their followers' behavior. Does Religion Align Best with Servant Leadership. The same concept applies to communities, companies, and countries. The levels range from D1 through D4, the lowest development to the high development. So, what makes leaders who they are? Reference Select Accept to consent or Reject to decline non-essential cookies for this use. Clearly, I have a significant amount to learn in order to improve my human skills so that I can affectively lead the followers who depend on me, and to effectively interact with them. According to the IMD business school, there are 8 key leadership strengths: Self-awareness: knowing yourself, your strengths, your weaknesses, your emotional state, etc. The term Great Man was adopted at the time because leadership was reserved for males, particularly in military leadership. This is easier to teach. January 30, 2013 by mdc5306. These leadership styles are not just for CEOs but for any professional, and in some cases, one can use these leadership approaches in their personal life too. Below are some tips, methods, and strategies to incorporate when evaluating your strengths and weaknesses. Skills Approach - strengths. In general, your strengths should be skills that can be supported through . Will lead by example and empower people with their own deep-seated valuesWeaknesses:1. Again this theory sees leadership in terms of skills. While some leaders stick to one particular style of leadership, others tailor their styles according to what the situation demands. In theory, put the first five on the left platform, then put listening on the right one, and the right side goes down. Examples: Larry Page (CEO & Co-Founder, Google), Mark Zuckerberg (CEO, Facebook)Key Phrase: I can do it betterDescription: These leaders know that transformation is what is going to make their company succeed within a given industry. Northouse,P.G. 47-56). Talent FleesThe Mediocre Stay. Konsyse is a digital imprint of Esploro Company and a sister digital imprint of Profolus. Might discourage independent work among staff, while dependencies on the leader can increase3. I believe that the Skills Inventory is a great place to figure out a person strengths and weakness for a particular leadership situation. Telling or Directing. The most important similarity between the traits and skills theory is that both have the leader at their centre. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. It would be like asking for the strengths and weaknesses of the theory that the world is flat. Although the trade approach is no longer the center of scholarship on leadership, North House Notes four strains of the approach for students . As far as the skills approach to leadership, there are three skills (things leaders can accomplish); technical skills, human skills, and conceptual skills. Leaders have specific skills that they use to lead their followers. This theory understands that though a leader can and needs to adapt to the situation, the leader still defaults to his or her own style, personality, and approach. They know how to bring out the positive attributes in others and are committed to helping them build their strengths. Each area of Adair's leadership theory depends on the others. A decisive nature is another strength that some leaders possess. The great man theory states that certain people are born with leadership traits. This new idea that leaders can be made has allowed more recent . These skills are human, conceptual and technical. Despite its weaknesses, the skills theory has been able to show leadership and leaders abilities in a new light. Upon embarking in this journey into leadership as a study, I considered myself to be a proficient leader, able to motivate people, and an organized individual able to organize others to achieve a goal. Self-Assessment Self-awareness is essential for developing leadership skills. However, the transformational approach enhances group creativity and innovativeness but negatively affects such capabilities at the individual level due to dependence. I am a leader in my personal extra curricular activities and am a manager in my professional life. Successors are organically createdWeakness:1. Delegation of tasks results in better use of time for the leader4. Coaching Mumford et al. The three skills approach that Mumford and Katz proposed argues that there were three essential skills for leadership. Political Autocrats Create Opposition. Since a person can improve their capabilities in these areas through training and experience (Northouse,p.57), I would not stress about one questionnaire guiding your personal or work life. 2. The primary disadvantage of this theory is that it doesn't directly state how to act in order to achieve specific results. The great man theory is one of the earliest ways to look at leadership. Googles CEO Larry Page recently stated, We still feel computers are pretty bad, and there can be more work done to make it better.Strengths:1. Learn more in our Cookie Policy. Self-awareness is, in essence, the ability to monitor your own emotions and reactions as a leader. After reading the skills chapter in the text Leadership:theory and practice, it is clear to me that I have some improvements to make. Limitations in Applications. As proposed by the Trait Theory, effective leadership depends on the traits that one possesses. After all, integrity is the most valuable and respected quality of leadership always keep your word. Traits like micromanaging, inconsistency, a lack of awareness and other similar qualities can be attributed to weaknesses in leadership skills. DIRECTIONS: 1. Leaders should strive to focus on their strengths rather than their weaknesses. 1. Transactional leaders create rewards and consequences for their direct reports. Will be two steps ahead of their competitors3. It is useless in new and chaotic groups or organizations, those that perform mechanized tasks, and in emergencies or situations that require quick decision-making or prompt problem-solving. Select from one of the following organizational structures: mechanistic or organic. The Contingency Theory emphasizes different variables in a specific setting that determine the style of leadership best suited for the said situation. 15. Can sometimes cross the thin line between coaching and micro-managing. 1. There can be conflict if team members are experts who know more than the leader, Examples: Barack Obama (U.S. President), Oprah Winfrey (TV Show Host & Media Proprietor), Mother Teresa(Late Catholic nun, missionary, and social worker)Key Phrase: Lets do it togetherDescription: Charismatic leaders ooze charm allowing them to connect with and mobilize people to achieve goals. Transactional leadership ranked second while the contingent reward and managing-by-expectation ranked third and fourth respectively. Inspirational leaders are known for their challenging, encouraging and involving capabilities. Volatile markets, an ever increasing demand for better products and a changing workforce mean leaders now need to more agile and versatile to assume various leadership styles as needed. Skills theory is also an important theory that has been able to clarify some unique points regarding leadership. Delegating and observing. Can build strong relationships and also repair relationships gone sourWeakness:1. Communication skills: the ability to effectively communicate with others. The human skills are related to the ability to work with the humans; what we also understand as people skills. Compare and contrast three contemporary (3) leadership theories. Not being adaptable. Northouse,P.G. For each of the traits listed on the inventory decide whether it is a: Might discourage independent work among staff . The conceptual skills work to develop concepts or ideas. This leadership style also has some disadvantages because due to its flexibility. Wonder if there are a little bit of each of these styles in leaders mentioned here. I have learned a significant amount of information about myself asa person regarding the psychodynamic dynamic approach to leadership, as well as with which skills I am strong and weak. 2. Servant leadership involves the individual demonstrating the characteristics of empathy, listening, stewardship, and commitment to personal growth toward others" Investopedia.com. Situational Theory recommends leaders to adopt a leadership style depending on the situation at hand, while the Behavioral Theory is all about the learning the skills necessary to become a good leader. One study noted that it ranked first in terms of effectiveness. Additionally, I need to improve my conceptual skills since as a leader, my organization is depending on me to develop visions and strategies as well as improve policies and concepts for the organization. There are numerous ways of defining leadership. It was extremely enlightening to learn of the skills which I have and those where I need improvement. The overall impression is one of caring, showing empathetic symptoms and highlighting interests of others above themselves. Human skills are social abilities to work with people effectively. Could come across as self-promoting. Practicing self-awareness allows you to better react to situations or people who may trigger . Although it was originally proposed in the 1800s, it is often criticized as lacking a scientific foundation, not being gender . This paper will attempt to highlight my personal strengths and weaknesses as leader, identify the areas needed for improvement, and identify the leadership skills and practices that I will use to become an effective leader. Situational awareness: knowing what is happening around you. Because employees' skills and dependability vary, it's critical for the manager to . The two primary theories to develop from a skills approach were Katz's three-skill approach and Mumford's skills model of leadership. The Cons: Weaknesses and Disadvantages of Transformational Leadership. The Great Man Theory of leadership was one of the first attempts to identify the personality traits of leadership. Describe the advantages and disadvantages 5. The free Values in Action Inventory of Strengths survey provides crucial insights into who we are and our moral virtues. The theory has strong evidence. It states that some people are born with the traits of a leader; they have the gift of unique qualities. Very useful indeed. As one move up into a leadership their skill sets grow within mainly due to the fact that different situations are presented to them which require different skill sets. After reading the skills chapter in the text Leadership:theory and practice, it is clear to me that I have some improvements to make. You can update your choices at any time in your settings. The leadership theories. Still, the skills theory too has its own weaknesses. For example, it is useless in groups or organizations composed of followers . Ensure that you highlight your skills that are listed in the job description, and explain how you will gain or improve critical skills that you lack. A transformational approach to leadership distributes accountability across the group or organization by giving them autonomy or ownership over their tasks. Inc. In this module there are five lessons (1) Defining Leadership; (2) Trait, Skill, and Behavioral Approaches to Leadership; (3)Situational leadership; (4) Path-Goal Theory; and (5) Leader-Member Exchange Theory. developing just as a leader. If the employee believes in the vision or the company has a future, they may be willing to settle for lower pay. The contingency theory. Can cater to niche marketsWeakness:1. List of Excel Shortcuts Many aspects of these theories can be applied to help one improve his or her leadership skills. Staff can get easily burnout by trying to keep pace, Examples: Warren Buffet (Business Magnate and Investor), Richard Branson (Founder, Virgin Group)Key Phrase: Ill give you the tools and autonomy to executeDescription: Think hands-off when you talk about laissez-faire style of leadership. . Read our cookie policy here. Some of the strengths of a transformational leadership approach include inspiring others to be creative and innovative, fostering a sense of ownership and responsibility among team members, and creating a clear vision and strategy for the organization. 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