what is the difference between a transformation and transaction leader?
PART A
Question 1; what is the difference between a transformation and transaction leader?
The current leadership styles are related to two major types of methods; Transactional and Transformational leadership.
Transactional Leadership; Transactional leaders are goal oriented and expect quality performance. They maintain the performance standards through the use of rewards and punishments1.
Transformational Leadership; Transformational leaders focus more on their employee’s motivation and engagement level. They try to connect employee’s sense of self with the company’s values. These types of leaders usually lead from the front
Question 2; Millennial are interested in money, but they want more than just monetary compensation. What, based on the lectures, would you say are two areas they look for outside of money?
Of course, people work for money, but apart from that, millennial also look for benefits from the company like loan option and healthcare. They want retirement investment options for their old age. They also value loyalty and care for an employer who provides them with a steady career. Furthermore, they want a job which allows them to give time to their families. Overall, not all millennial care for free lunch, most of them want a steady employment that will enable them to prosper and live a healthy life2.
Question 3; what is an area that is common between traditionalists and baby boomers?
Though both; traditionalists and baby boomers are a lot different from each other in many ways, there are certain things that both of them agree. Both the groups value hard work. Both of them consider that if they work hard to get a job done, they should be praised and rewarded for it. However, the problem is that different generations do not communicate with each other, creating a gap.
Question4. What are two ways to get employees to accept change in a workplace?
Change is not an easy option. Most people get used to their old ways of life and become resistant to change. The difference is something which most companies cannot impose on their own; they need help from professional mentors to make employees accept it. To make employees receive change, employers should talk to them and make them realize how the new system is beneficial for them. Secondly, they employers must accept feedback from employees. Understand what their views are on the issue and talk to them on their level.
Question5. What are two ways to help different generations in the workplace get along?
To help the different generations get along; at the workplace, employers should encourage healthy conversation between the two. A discussion which allows the younger generation to understand the older generation’s ideas and vice versa will help both the groups to be on the same page.
PART B
Scenario: An organization that specializes in financial forecasting and investment that has been in the business for 50 years, led by the founder, who is male from the traditionalist generation, now faces a massive leadership change. The organization’s founder is retiring, and his replacement is his youngest daughter, age 27, and a graduate of Columbia University with an undergraduate degree in Economics and Masters of Business Administration (MBA). The staff of the organization, although multigenerational, is mainly made up of
traditionalists and baby-boomers on the management side.The rumors have already started swirling in the organization. Fear is healthy amongst regular staff regarding the change. The more significant concern is amongst management. The child as staff throughout refer to her had never worked before, and will now be in the role of leader of a very profitable organization that has been around for a half century. She has been at the company before, with her father, but mainly in the capacity of a visitor to be babysat, and not since she was in her teenage years.
ESSAY 1; 1. As the leader, how should the new organization leader calm the waters amongst management? What type of leader should she be? How does she get management on board with her as leader of an organization that has been operating successfully for 50 years?
Apparently, the organization and most of the employees are old compared to the young daughter. They have been there long before she was even born. Some of them also babysat her when she was growing up and consider her as their daughter. In such a situation, it will not be wise to become a demanding boss. The senior employees will feel humiliated if the young boss makes them follow her orders. It will be wise to apply the typical style and ask for suggestions from the senior, seasoned managers.
ESSAY 4; knowing what you have learned about millennial, what type of leader (transformational or transactional) would be best for them? Why? To support your argument, you can also compare to past generations and their goals. Make sure millennial are the primary focus
of your essay.
Considering the millennial, it will be best if their leader leads them from the front, instead of giving instructions from the top. Millennial feel more energized when they see their leader among them. On the other hand, traditionalists do not need to be reminded about quality they value it and base their work on it. Hence, millennial are better off with a transformational leadership style.
REFERENCES
- 5 Types Of Organizational Change – Change Management Tools. Change! Change Management News & Tips. https://change.walkme.com/5-types-of-organizational-change/. Published May 30, 2017. Accessed December 11, 2017.
- Creasey T. Incremental vs. Radical Change. http://blog.prosci.com/incremental-vs-radical-change. Accessed December 11, 2017.
