Business and Society - Leadership and Motivation Coursework

Business and Society - Leadership and Motivation - Coursework Example The steps taken in managing failure include managing cash flow, avoiding debt and developing an effective business plan. Leadership and motivation are important determinants of success in a business entity. Effective leadership guides employees towards the achievement of the entity’s goals and objectives (Caroll and Buchholtz 35). Additionally, employee motivation helps improve employees’ productivity resulting in an overall improvement of the firm. Leaders are different from managers in various ways. Leaders focus on people while managers focus on structure. Leaders innovate while managers administer (Caroll and Buchholtz 42). Leaders inspire trust while managers control. Retired General Colin Powell defines leadership as followership. His definition of leadership is accurate since leaders act in a way that inspires those that follow them. I agree with his definition of leadership is all about inspiring one’s followers. There are various leadership styles including bureaucratic, charismatic, servant and transactional (Caroll and Buchholtz 45). The style I prefer most is servant leadership since the leader leads since it considers employees’ participation. The style I prefer least is bureaucratic leadership since it inhibits innovation, creativity and flexibility. Dr Phil’s and Maslow’s Hierarchy of needs can be used to motivate and manage employees. Employee motivation increases their productivity (Caroll and Buchholtz 47). It is clear that money is not the sole motivating factor, other aspects including the working conditions impact employee management and motivation. An organization is a social unit of individuals that is designed and managed to pursue collective objectives (Caroll and Buchholtz 7). The specific characteristics of an organization include an organizational culture and the ability to work towards collective goals and objectives. Corporate culture refers to behaviours, beliefs and values that establish how a company’s management interacts with its employees and how it handles any external transactions.  Ã‚