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CORPORATE GOVERNANCE
Corporate governance refers to the set
of systems, principles and processesby which a company is governed.
They provide the guidelines as to how
the company can be directed orcontrolled such that it can fulfil its goals
and objectives in a manner that adds tothe value of the company and is also
beneficial for all stakeholders in the
long term.
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g
CORPORATE GOVERNANCE
Stakeholders in this case would
include everyone ranging from theboard of directors, management,
shareholders to customers,
employees and society.
The management of the company
hence assumes the role of a trusteefor all the others
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CORPORATE GOVERNANCE PRINCIPLESCorporate governance is based on principles such as:
Conducting the business with all integrity and
fairness,being transparent with regard to alltransactions,
Making all the necessary disclosures and decisions,
complying with all the laws of the land, accountabilityand responsibility towards the stakeholders and
commitment to conducting businessin an ethical
manner.
Another point which is highlighted in the SEBI report
on corporate governance is the need for those in
control to be able to distinguish between what are
personal andcorporate funds while managing a
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CORPORATE GOVERNANCE PRINCIPLES Reliance is in the forefront of implementation of Corporate Governance best practices
Corporate Governance at Reliance is based on the following main principles:
Constitution of a Board of Directors of appropriate composition, size, variedexpertise and commitment to discharge its responsibilities and duties.
Ensuring timely flow of information to the Board and its Committees to
enable them to discharge their functions effectively.
Independent verification and safeguarding integrity of the Companys
financial reporting.
A sound system of risk management and internal control.
Timely and balanced disclosure of all material information concerning the
Company to all stakeholders.
Transparency and accountability.
Compliance with all the applicable rules and regulations.
Fair and equitable treatment of all its stakeholders including employees,
customers, shareholders and investors.
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LEADERSHIP
Subordinates want to be led, and led
effectively. They will work just hard enoughto get by if there is little ,or no leadership;
with effective leadership they will work with
zeal and confidence toward the peak oftheir capabilities." Koontz and O'Donnell
Leadership is an abstract quality in a humanbeing to induce his follower to do whatever
he is directed to do with zeal and
confidence.
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LEADERSHIP
"Leadership refers to the
quality of the behaviour of
individuals whereby theyguide people on their
activities in organisedefforts,"-Chester I. Barnard
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LEADERSHIP
"Leadership is the ability
to secure desirable
actions from a group offollowers voluntarily
without the use ofcoercion."Alford & Beatty
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CHARACTERISTICSOF LEADERSHIP
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CHARACTERISTICS OF LEADERSHIP
1. Leadership is a personal quality
of characterand behaviourin man which enables him to exertpersonalinfluence.
2. Leadership helps others inchoosingand attainingspecifiedgoalsto the maximum satisfaction
of both theleader and the follower.3.The leaderleads his group withauthorityand confidence.
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4. Theleader unifies his group
and motivatesthe group towork for the attainmentof a
goal.5. The leader establishes
relationshipbetween anindividualand a group around
some common interest.
CHARACTERISTICS OF LEADERSHIP
CHARACTERISTICS OF EADERSHIP
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6. The leadership is the process of
(i) Directing,
(ii) Guiding, and
(iii) Influencing the people to do
their best for the attainment
of a specified goal.
CHARACTERISTICS OF LEADERSHIP
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STYLES (TYPES)OF LEADERSHIP
STYLES (TYPES) OF LEADERSHIP
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STYLES (TYPES) OF LEADERSHIP
The three relatively distinct
leadership styles are
1.Authoritarian,
2.Democratic, and
3.Free Rein or Laissez-Faire.
1 AUTHORITARIAN LEADERSHIP
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1. AUTHORITARIAN LEADERSHIP
It is felt that this technique isold-fashioned, but it
works well in many cases.
The leader makes all the decisions (no matter it
is right or not) and demands obedience from the
people he supervises.
All policies are determined by the leader without
consulting the subordinates.
The leader dictates to the subordinates, the
techniques and activity steps, he tells them what
to do next, he does not inform them about future
plans and thus future steps always remain
uncertain to a large degree.
1 AUTHORITARIAN LEADERSHIP
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1. AUTHORITARIAN LEADERSHIP
The leader decides the particular work task
for a person and the work companion of each
person (worker).
The leader tends to be personal in his praise
and criticism of the work of each member
(worker).
The leader remains aloof from active group
participation except when demonstrating.Authoritarian leadership is negative because
the subordinates remain uninformed, they
feel insecure and remain afraid of the leader.
1 AUTHORITARIAN LEADERSHIP
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1. AUTHORITARIAN LEADERSHIP
Advantages:-
(i) Decisions can be takenquickly.
(ii) Some people who simplywork for fear of punishment
remain disciplined & devotedtowards the tasks given to them.
2 DEMOCRATIC LEADERSHIP
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2. DEMOCRATIC LEADERSHIP
Democratic leadership is most popular today.
The leader discusses & consults his
subordinates.
He draws ideas from them, supervises &
lets them help set policy.A democratic leader promotes participation
of subordinates and develops strong team
work.All policies come out of group discussions,
the subordinates being constantly
encouraged and assisted by the leader.
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2. DEMOCRATIC LEADERSHIP
The leader gives decision only after consultinghis subordinates. Actually the decision emerges
out of the subordinate group itself. Subordinates know the long term plans on
which they are supposed to work, thus they are
kept well informed. Division of tasks is left upon the group;
individuals are free to work with whomsoeverthey choose.
A democratic leader is objective or fact-mindedin his praise and criticism; he tries to be aregular group member in spirit without doing too
much of the work.
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2. DEMOCRATIC LEADERSHIP
(i) Motivates subordinates to work, and improves
their attitude towards work.
(ii) Promotes healthier relations between workers
and management.
(iii) Minimizes employee-grievances.
(iv) Raises the employee-morale.
- Democratic leadership works very well if the
subordinates (also) feel their responsibility,tend to be reasonable and do not take undue
advantage of the democratic leadership.
3 FREE REIN OR LAISSEZ FAIRE
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3. FREE REIN OR LAISSEZ-FAIRE.
This is the most difficult to use type of
leadership.The leader acts as an information centre
and exercises minimum of control.
The leader depends upon subordinate'ssense of responsibility and good judgment
to get the work done.
There is a complete freedom for group or
individual decision, with a minimum of
leader participation
3 FREE REIN OR LAISSEZ FAIRE
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3. FREE REIN OR LAISSEZ-FAIRE.
The leader supplies various materials,
gives information when asked but takes noother part in work discussion.
The leader makes no attempt to appraise
or regulate the course of events.Actually, a Free Rein leader does not lead
the subordinates but leaves them entirely to
themselves; the responsibility foraccomplishing most of the work lies on the
shoulders of the subordinates.
3 FREE REIN OR LAISSEZ FAIRE
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3. FREE REIN OR LAISSEZ-FAIRE.
The subordinate group establishes its
own goals and solves its own problems.The leader is simply a contact man,
he ignores leader's contribution, he
intervenes least. and avoids power.
Free Rein leadership can work only if
the subordinates are highly educated,brilliant and they possess good sense
of responsibility.
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QUALITIES OF
(GOOD)
LEADERSHIP
QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
1. A sense of mission.A devotion
to the people and theorganisation in which oneselves.
2. Accomplishment.Effective useof time in meeting company
goals and objectives.3. Education:broad as well as
technical. QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
4. Acceptability.From the
subordinates; respect from andconfidence of others.
5. Self-denial.A willingness to forgo
self-indulgences and the ability tobear the headaches the job entails.
6. Acuteness.A leader-remains
mentally alert and readilycomprehends instructions,explanations and unusual
circumstances.
QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
7. High intelligence. A leader
should be able to comedown to the levelnecessary for thesubordinates he is leading.
8. High character. Includes
honesty, sincerity, and thecourage to face hard facts,
unpleasant situations etc QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
9. Administration. Ability to plan
and organise the work,delegation of responsibility andauthority, ,controlling position
activities, etc.10. Maturity. In coping with
situations and makingdecisions, emotionally stableand unlikely to break down
with frustration. QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
11. Job Competence.A
leader knows well the jobhe supervises.
12. Analysis and Judgement.A leader performs criticalevaluation of potential
current problem areas; hepossesses wisdom to look
into future QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
13.Initiative and drive.Self-
starting to achieve bothpersonal and company
objectives.14.Energy.Good health,
good nerves andboundless energy make
even tough jobs easier QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
15.Attitude.Enthusiastic,
Optimistic, and Loyal attitudetowards the organization.
16.Personal compliance.Degreeto which leader does what isexpected of him, such as
setting good example bybeing punctual, honest, just
etc. QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
17.Constructive, creative and
independent thinking.Ability tooriginate and develop ideasintelligently and to make
constructive suggestions andimprovements.
18.Dependability.A leader meetsschedules and dead lines andadheres to company policies.
QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
19.Group Spirit.
20.Flexibility.A leader
is adaptable, andquickly adjusts tochanging conditions.
QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
21.Knowledge of Industrial
psychology and humanrelations.A leaderunderstands personnel
interactions, has feel forindividuals and recognizestheir problems; is considerate
towards others; can motivateand get people to worktogether.
QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
22.Approachability.The extent,
to which he is willing to sitand talk with his subordinatesand to which they are willing
to talk things over with him.23.Open-mindedness.A leader
has open-mind and makesdecisions without theinfluence of personal or
emotional interests. QUALITIES OF (GOOD) LEADERSHIP
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QUALITIES OF (GOOD) LEADERSHIP
24.Self-confidence.Self
assurance; self-reIianceinner security, etc.
25.Cheerfulness and Socialness.A leader remains
always cheerful, he makesfriends easily and hassincere interest in people.
QUALITIES OF (GOOD) LEADERSHIP
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QU S O (GOO ) S
26.Verbal ability & communication.
Articulate; communicative and ISgenerally understood by peopleat different organizational levels.
27.Good poise & bearing.28.Vision.Possesses foresight,
sees new trends andopportunities; anticipates futureevents, etc.
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ROLES OF STRATEGICMANAGER LEADERSHIP
ROLES OF STRATEGIC MANAGER LEADERSHIP
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Strategic manager has to
play significant differentleadership role as listed
below:
Visionary
Chief entrepreneurial and
strategist ROLES OF STRATEGIC MANAGER LEADERSHIP
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Chief administrator and
strategy implementer
Culture builderResource acquirer and
allocator
Capabilities builder ROLES OF STRATEGIC MANAGER LEADERSHIP
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Process integratorCoach crisis solverTask masterSpokesperson
ROLES OF STRATEGIC MANAGER LEADERSHIP
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NegotiatorMotivator
Arbitrator
Consensus builder
ROLES OF STRATEGIC MANAGER LEADERSHIP
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Consensus builder
Policy maker
Policy enforcer
MentorAnd head cheer leader
ROLES OF STRATEGIC MANAGER LEADERSHIP
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ROLES OF STRATEGIC MANAGER LEADERSHIP
Sometimes, it is useful to
be authoritarianand
hardnosed; Sometimes it is best to be
a perceptive listener and acompromising decision
maker ROLES OF STRATEGIC MANAGER LEADERSHIP
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ROLES OF STRATEGIC MANAGER LEADERSHIP
Sometimes strongparticipative, collegial
approachworks best;Sometimes being a
coach & adviser is the
proper role ROLES OF STRATEGIC MANAGER LEADERSHIP
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Strategic managers have fiveleadership roles to play inpushing for good strategyexecution as follows:
1.He has to closely monitorprogress of the top managementand study the overall changes in
organization, for this purpose hehas to learn what obstacles lies inthe path of good execution.
ROLES OF STRATEGIC MANAGER LEADERSHIP
ROLES OF STRATEGIC MANAGER LEADERSHIP
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2. To promote a
culture that mobilizes& energizes
organizationalmembers to execute
strategy in acompetent fashion and
erform at hi h level
ROLES OF STRATEGIC MANAGER LEADERSHIP
ROLES OF STRATEGIC MANAGER LEADERSHIP
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ROLES OF STRATEGIC MANAGER LEADERSHIP
3.To keep the organization
responsive to changingconditions alert for newopportunities, bubbling withinnovative ideas, andahead of rivals in
developing competitivelyvaluable competencies and
capabilities ROLES OF STRATEGIC MANAGER LEADERSHIP
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ROLES OF STRATEGIC MANAGER LEADERSHIP
4.Ethics leadership
& insisting that the
company conduct itsaffair like a model
corporate citizen.
ROLES OF STRATEGIC MANAGER LEADERSHIP
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5.To push corrective
actions to improve
strategy executionand overall
strategicperformance.
ROLES OF STRATEGIC MANAGER LEADERSHIP
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Two leadership issues are
of fundamentalimportance:
The role of the chiefexecutive officers (CEO)
The assignment of keymanagers
ROLES OF STRATEGIC MANAGER LEADERSHIP
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ROLES OF STRATEGIC MANAGER LEADERSHIP
Strategic leader actas many occasions
call for a highly-visiblerole and extensive
time commitments.
ROLES OF STRATEGIC MANAGER LEADERSHIP
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ROLES OF STRATEGIC MANAGER LEADERSHIP
While others entaileda brief ceremonial
performance with thedetails delegated to
subordinates.
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WORKER/PROFESS MANAGER LEADER
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WO O SS
IONAL
M N G
Develops specific
task expertise
Plans Gets the
mission
defined
Finds new business Organizes Creates anenvironment
Creates product/
Provides service
Solves
problems
Shakes things
upIn contact with
customers
Copes with
complexity
Sets the
direction and
tone
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WORKER/PROFESS MANAGER LEADER
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WORKER/PROFESS
IONAL
MANAGER LEADER
Responsible for
own effort,production and
sales
Responsible for
performance oforganization
Responsible
for overalloutcome
Works
independently
Deductive process Inductive
process
Lacks overarching
viewpoint
Creates structures,
risk averse
Creates
mandates;
risk takerProvides feedback
to organization
Monitors
organizational
culture
Monitors
outside
culture
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