COMMERCE 1BA3 Lecture Notes - Lecture 13: Warren Buffett, Fiedler Contingency Model, Thermostat

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2 Aug 2016
Department
Professor
Leadership
Leadership:
Traditional definition from textbook (goes directly to leading others)
Contemporary definition: starts with self (lead self first)
Kouzes & Posner: Shared aspirations; true leader is moving people; zone of agreement
Warren Buffet: 3 things required for success; integrity, intelligence, energy; without the first, the
other two could kill you
Difference bet'n Formal vs Informal
Formal: legitimate position; without influence on you
Role/ position: occupy formal leadership rules; assigned; expected to influence (no guarantee
that they will be influenced)
Given authority to direct employees
Informal: Robin Sharma's book
No legitimate title
Positive power always;
Critical knowledge and experience
You really like them and you want to follow them; charisma; well-liked; highly skilled
Leader vs Managers
Leaders do the right thing: based on values/ core compass/ conscious leadership/ corporate socially
responsible/ triple p (people /planet); character building
Managers do things right: planning/ organizing/ delegating/ rewarding/ performance feedback;
according to how they were trained
Not all managers are leaders
Transformational vs Transactional
Transactional: transact; motivating by exchanging: ex. do this, i'll give you this; manager-like; do the
report and do it right; traditional: throwing dog biscuits
Transform: to transform; to get people to move in order/ higher levels; to inspire/ innovate/ engage/
invigorate; who you are as a character; your values
Concentrate on 3 and 4
1 2
3 4
Similarities and diff bet'n Fiedler's theory and path goal theory
Trait-Innate Behaviour- Can be trained
Universal 1Transformational Leaders 2Socio-emotional & Task Leaders
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Situation-
Contingent
3Fiedler's Contingency Model of
Leadership
4-R.J. House's Path-Goal Theory
-Vroom-Yetton's Model (original authors of lit
in the area) and
Trait: Physical attributes, personality, hard-wiring; born with
Behaviour:
Diff bet'n universal leader (boxes 1 &2) and situation-contingent (boxes 3&4)
Universal: Leaders are leaders bc of some enduring (long lasting/ no matter what era)** aspect of their
personality or behaviours; regardless of the situation, leader will emerge; no matter where leader is put,
still has impact
Situation-contingent***: notion of situational sensing; leaders will adjust** the expression of traits or
behaviours to fit the demand of the situation; how we train leaders today
1.Universal Trait Theories or Approaches
The great man approach; changed to the great person approach; assumes that they are more
transformational than transactional
Based on the notion that certain individuals are destined to be leaders
Bc some magical grouping of personality/ characteristics that separates you from the rest of the
humans/followers (textbook: intelligence, energy; integrity - without first one, dead)
Motivation, high motional stability, honesty, need for achievement, self confidence
Pg 308: nature or nurture? Born leader?
1.Universal Behaviour Theories (pg310)
Leadership research began to focus on the behaviours of leaders rather than their
personality/trait/characteristics
Research Q: which leader behaviours resulted in higher follower satisfaction and follower
performance ****MC; they kept finding two categories (know diff names)
oIf we can behave:
otask oriented - organizing plan (transactional); step up
oSocio-emotional: patching up disagreements
oOhio State studies pg310:
Initiating Consideration: socio-emotional; employee/ people oriented
Initiating Structure: goal attainment; task oriented; production oriented
o*****Task and socio-emotional; initiating structure; production/ employee; task/people
oriented
oMust behave in both realms
1.Contingency Trait Theories
Fiedler's contingency theory: contingent on how favourable the situation is for exerting
influence; measured in:
1. Leadership orientation: LPC - lower number; high LPC: more ppl oriented ;
There was a scale used
1. Situational favourableness: put the right guy in the right situation (pg314 - Ex 9.2
contingency model) Know the three:
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