I will define leader as someone who leads, equips, listens, communicates, empowers, managers, rewards motivates and encourages employees of the organization, so that they can attain the desired goals an objectives. To be a good leaders a leaders must have the capability to listen to its 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 leaders 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 a good leadership prevail in an organization it can be felt at every level. Employees are highly motivated to perform their task. They are evaluated fairly and they know that they are a valuable part of the organization (Anderson, 2013).
Leaders play an integral role the right and wrongs in any organization. Leaders who ho are highly concerned with ethics keep on asking question about what could be a right or a wrong decision. Ethical leaders pay focus on long term consequences of decisions on stakeholders (Sims, 1992). They work for the benefit of all including the society, employees, organization and other stakeholders. They stick moral principle and are not ready to accept anything that stand 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 to 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 students has vaguely presented the idea about 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 it goes a long way in deciding what to do, how to do and what consequences it will lead on others (Minkes, 1999).
Learning activity 2
I believe that the retailer must pursue this marketing strategy. Although the market segment that the retailer will pursue is small yet comes with higher future returns due to high risk associated with it. High risks generally lead to high returns. The risk averse behavior deprives businesses from ample of opportunities that generate huge returns. Going for a risky approach will pose few challenges, but I believe that overcoming those challenges and being determined will generate huge profit to 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 niche market captures other advantages too such as less competition, less expenditure required on marketing, huge profit and high loyalty with customers (Gover, 2017). Being a first mover will help the retailer to establish high standards in the markets thus making it difficult for other 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 planet turn out to be highly successful than those that focus on profit only. I disagree with the response of the student. 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.).
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