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Learning Activity 1

I will define a leader as someone who leads, equips, listens, communicates, empowers, manages, rewards, motivates and encourages employees of the organization so that they can attain the desired goals and objectives. To be a good leader, leaders must have the capability to listen to their employees and their needs. He must be able to deal with arising conflicts. He should possess a charismatic personality that is liked by all. A good leader equips and provides all resources to its employees to attain desired goals and objectives. Good leaders empower their employees. They encourage critical thinking and innovative ideas. When good leadership prevail in an organization, it can be felt at every level. Employees are highly motivated to perform their tasks. They are evaluated fairly, and they know that they are a valuable part of the organization (Anderson, 2013).

Leaders play an integral role in the right and wrongs in any organization. Leaders who are highly concerned with ethics keep asking questions about what could be a right or a wrong decision. Ethical leaders focus on the long-term consequences of decisions on stakeholders (Sims, 1992). They work for the benefit of all, including society, employees, organizations and other stakeholders. They stick to moral principles and are not ready to accept anything that stands against those principles. They work for the welfare of all and keep their self-interests aside (Mihelič, Lipičnik, & Tekavčič, 2010).

Response To Student

I agree with the response of this student that leaders are particularly caring and make employees feel that they are valuable to the organization. But there could be much more that could define a good leaders such as having a charismatic personality, being a good listener, a problem solver and fair in decisions could define a good leaders. This student has vaguely presented the idea of how ethics can be promoted in an organization through a leadership position. Ethics are not only about setting an ethical tone in an organization, but they go a long way in deciding what to do, how to do it, and what consequences it will have on others (Minkes, 1999).

Learning Activity 2

I believe that the retailer must pursue this marketing strategy. However, the market segment that the retailer will pursue is small yet comes with higher future returns due to the high risk associated with it. High risks generally lead to high returns. The risk-averse behaviour deprives businesses of ample opportunities that generate huge returns. Going for a risky approach will pose a few challenges, but I believe that overcoming those challenges and being determined will generate huge profits for the retailers. Single parents are rising at an increasing speed due to changing family structures. It is important to cater to their needs, too. Capturing this niche and untapped segment will give the advantage of a first mover and thus will generate huge benefits for the retailers (Suarez & Lanzolla, 2008). Capturing a niche market also captures other advantages, such as less competition, less expenditure required on marketing, huge profit and high customer loyalty (Gover, 2017). Being a first mover will help the retailer establish high standards in the market, thus making it difficult for others to copy (CFI, n.d.).

Response To Student:

I believe it is the responsibility of a corporation to take care of the society, people and other stakeholders that are affected by the decisions of the company. A corporation that focuses on people, profit and the planet turns out to be more successful than those that focus on profit only. I disagree with the student’s response. The sole purpose of a business is not only to make profits, but they must also return to the society they work in (Slaper & Hall, n.d.).

References

Anderson, A. R. (2013, January 14). Good Leaders Are Invaluable To A Company. Bad Leaders Will Destroy It. Retrieved from https://www.forbes.com/sites/amyanderson/2013/01/14/good-leaders-are-invaluable-to-a-company-bad-leaders-will-destroy-it/#252fcf391138

CFI. (n.d.). What is the First Mover Advantage? Retrieved from Corporate Finance Institute: https://corporatefinanceinstitute.com/resources/knowledge/strategy/first-mover-advantage/

Gover, S. (2017, September 26). The Advantages and Disadvantages of Marketing to a Niche Audience. Retrieved from https://www.iconvisual.com.au/about-us/news/the-advantages-and-disadvantages-of-marketing-to-a-niche-audience

Mihelič, K. K., Lipičnik, B., & Tekavčič, M. (2010). Ethical Leadership. International Journal of Management & Information Systems.

Minkes, A. L. (1999). Leadership and business ethics: Does it matter? Journal of Business Ethics, 327-335.

Sims, R. R. (1992). The challenge of ethical behavior in organizations. Journal of Business Ethics, 505-513.

Slaper, T. F., & Hall, T. J. (n.d.). The Triple Bottom Line: What Is It and How Does It Work? Retrieved from IBR: http://www.ibrc.indiana.edu/ibr/2011/spring/article2.html

Suarez, F., & Lanzolla, G. (2008, April). The Half-Truth of First-Mover Advantage. Retrieved from HBR: https://hbr.org/2005/04/the-half-truth-of-first-mover-advantage

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