Business and Management
A leader is the one who possesses a superior or dominant position within its field and can influence others. He is a person who can change other people towards the achievement of goals. From my point of view possessing excellent management skills makes a leader a good leader because most of the times a good leader listens. A good leader has two qualities which are Character and Competence.
A leader should be a person of integrity so that people will put their trust in him and follow him. A good leader believes that he is a best product or service in every possible way. A good leader has a vast knowledge of the management and can cope up with the criticisms if imposed any onto a leader. He can accept where he’s wrong.
Businesses should hire leaders that have the capabilities to motivate followers and the power to create a positive change and build organizational commitment and trust. Leadership style plays an essential role in the perception of the followers of the organization. Style approach can be used to determine how leaders approach and manage their subordinates and followers (Northouse, 2013). A good leader will create an environment where followers will trust their leaders to make the best decisions.
To maintain and improve the morale within an organization, a good leader can place programs that will provide importance on the communication and stress prevention,; this will give solutions to ethical dilemmas (Chekwa et al., 2014). A code of ethics policy should be implemented in the organization to maintain the ethics in the organization (Chekwa et al., 2014). It is the responsibility of the leader to inform about the code of ethics policy to the followers (Chekwa et al., 2014).
A leader should be a role model and be visible to all the employees working in an organization. The organization should communicate ethical expectations from the employees. It can offer ethics training to the employees of the company. The organization should reward those who are ethical and punish those who are not. With the help of moral counselors, noble officers or ombudsmen, an organization can carry out these roles effectively and efficiently (Nguyen, 2011).
Learning Activity 2
A retailer should not pursue this new marketing strategy because the customers are very high-risk customers and the probability of default is very high. The belief that company has regarding the accounts they will receive even if they incur any loss will not be true. As the customers are at high risk, because of the high interest charged on the credit if customers do not pay that money it will increase the debt of the firm. It is better for the retailer to come up with a new strategy which would be in favor of both the customers and for the firm as well.
A successful marketing strategy is the one that involves effective segmentation, effective target positioning and promotional tactics and a realistic marketing plan (Baker, 2016). A firm should focus on clients that have access to the government accounts and funds. A firm should focus on clients who are senior and have substantial authority. Useful target market identification helps the company to develop effective marketing strategies that will ultimately result in achievement of overall objectives of the company (Armstrong et al., 2015). A valid credit policy would be involving a credit check, low-interest rate, and continuous communication with the clients. If a retailer wants to carry out current strategy, he should make the changes in the policy. Effective credit control is essential to maintain the fats growing the business ( Calem et al., 2017).
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
Baker, M. J. (2016). What is marketing?. In The Marketing Book (pp. 25-42). Routledge.
Calem, P. S., Correa, R., & Lee, S. J. (2017). Prudential policies and their impact on credit in the United States.
Chekwa, C., Ouhirra, L., Thomas, E., & Chukwuanu, M. (2014). An examination of the effects of leadership on business ethics: Empirical study. International Journal Of Business & Public Administration, 11(1), 48-65.
Nguyen, S. (2011). Creating an ethical organizational culture. Workplace Psychology, available at http://workplacepsychology. net/2011/02/14/creating-an-ethical-organizational-culture.
Northouse, P.G. (2013). Leadership: Theory and practice (6th ed.). Thousand Oaks, CA: Sage Publications.