Explanatory Document Notes

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University of Maryland, University College *

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365

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Management

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Jan 9, 2024

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Transformational leaders lead employees by aligning employee goals with the leader's goals. Thus, employees working for transformational leaders start focusing on the company's well- being, rather than on what is best for them as individual employees. On the other hand, transactional leaders ensure that employees demonstrate the right behaviors in exchange for resources (Bass, 1985; Burns, 1978). Transformational leaders use four tools to influence employees and create commitment to company goals (Bass, 1985; Burns, 1978; Bycio, Hackett, & Allen, 1995; Judge & Piccolo, 2004). First, transformational leaders are charismatic. Charisma refers to the behaviors leaders demonstrate that create confidence in, commitment to, and admiration for the leader (Shamir, House, & Arthur, 1993). Charismatic individuals have a magnetic personality that is appealing to followers. Second, transformational leaders use inspirational motivation , or come up with a vision that is inspiring to others. Third is intellectual stimulation , which means that they challenge organizational norms and the status quo, and they encourage employees to think creatively and work harder. Finally, they use individualized consideration , which means that they show personal care and concern for the well-being of their followers. Examples of transformational leaders include Steve Jobs of Apple Inc.; Lee Iaccoca, who transformed Chrysler Motors LLC in the 1980s; and Jack Welch, who was the CEO of General Electric Company for 20 years. Each of these leaders had charisma and responsibility for the turnarounds of their companies. While transformational leaders rely on their charisma, persuasiveness, and personal appeal to change and inspire their companies, transactional leaders use three different methods. Contingent rewards mean rewarding employees for their accomplishments. Active management by exception involves leaving employees to do their jobs without interference, but at the same time proactively predicting potential problems and preventing them from occurring. Passive management by exception is similar in that it involves leaving employees alone, but in this method the manager waits until something goes wrong before coming to the rescue. transformational leaders increase the intrinsic motivation of their followers, build more effective relationships with employees, increase performance and creativity of their followers, increase team performance, and create higher levels of commitment to organizational change efforts (Herold et al., 2008; Piccolo & Colquitt, 2006; Schaubroeck, Lam, & Cha, 2007; Shin & Zhou, 2003; Wang et al., 2005). However, except for passive management by exception, the transactional leadership styles are also effective, and they also have positive influences over leader performance as well as

employee attitudes (Judge & Piccolo, 2004). To maximize their effectiveness, leaders are encouraged to demonstrate both transformational and transactional styles. They should also monitor themselves to avoid demonstrating passive management by exception. Why is transformational leadership effective? The key factor may be trust. Trust is the belief that the leader will show integrity, fairness, and predictability in dealing with others. Research shows that when leaders demonstrate transformational leadership behaviors, followers are more likely to trust them. The tendency toward trust in transactional leaders is substantially lower. Because transformational leaders express greater levels of concern for people's well- being and appeal to people's values, followers are more likely to believe that the leader has a trustworthy character (Dirks & Ferrin, 2002). University of Maryland Global Campus (UMGC). (n.d.). What’s New? Contemporary Approaches to Leadership Style . Document posted in UMGC BMGT 365 7380 online classroom, archived at https://leocontent.umgc.edu/content/scor/uncurated/tlp/2211- tlp610/learning-resourcelist/what-s-new-contemporaryapproachestoleadershipstyle.html Malos – The Most Important Leadership Theories https://learn.umgc.edu/content/enforced/347722-001034-01-2192-OL1-6381/The%20Most %20Important%20Leadership%20Theories.pdf

Leading Managing Relies on personal power and interpersonal influence Relies on position power and formal authority Influence is inspirational using communication and vision Influence is transactional using punishments and rewards Personal and mutual trust-based relations; develops and cultivates a personal relationship with staff Task- and respect-based relations Relates to staff as individuals who seek meaning from their work Relates to staff as workers who seek to be paid for their work Empowers others to develop ideas and approaches; encourages autonomy Imposes ideas and approaches Self-aware; engages in self-reflection and seeks feedback Spends little effort on self-reflection or seeking feedback Shows humility and concern for staff; ensures task performance by serving their needs Concerned with task performance Emphasizes moral integrity and fairness; appeals to employees’ values Does not emphasize ethics or moral principles to employees Motivates staff to align their interests with those of the organization to get results Allocates resources to achieve goals and obtain results Mentors and develops leadership in others Coaches simply to get the job done Functions as a role model who inspires others Functions by telling others what to do Focuses on the system itself; strategic Focuses within the system; operational Long-term focus Short-term focus Focuses on change and transformation; flexible and adaptive orientation Focuses on stability and predictability; status quo orientation University of Maryland Global Campus (UMGC). (n.d.-a). Differences Between Management and Leadership . Document posted in UMGC BMGT 365 7380 online classroom, archived at https://leocontent.umgc.edu/content/scor/uncurated/bmgt/bmgt365/learning- topic-list/differences-betweenmanagementandleadership.html

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 Leadership traits are the people management skills, personal qualities and technical expertise a person requires to lead effectively in the workplace.  Effective leaders have leadership traits such as accountability, adaptability, confidence, creativity and empathy, along with positivity and team-building skills.  To develop your leadership traits, prioritize learning and professional development, adopt a leadership style, take on additional responsibilities, find a mentor and work on improving your communication and interpersonal relationship skills. Accountability - The best leaders take full responsibility for their team’s performance, whether the outcome is good or bad. Effective leaders recognize their areas of improvement and are open with their team about them. Make a point of serving as a role model, and your team is likely to demonstrate accountability , too. Adaptability - To become a strong leader, you should aim for a flexible approach that allows you to pivot as necessary. As you develop adaptability , you may also find that you develop related leadership characteristics, such as resourcefulness and problem-solving abilities. Creativity - As a leader, you should aim to prioritize creativity so you can experiment with innovative solutions and alternative approaches to reach goals Stability - Establishing regular routines and telling your team what to expect allows you and your staff members to maintain energy and focus, even as you strive for constant progress. For example, set a weekly meeting to update your team on upcoming changes. You may have some of these leadership qualities naturally, but you can also work to cultivate critical characteristics. Prioritize learning and training - Aim to learn as much as you can to build new skills and hone key qualities. Make a list of areas that need improvement and methods that can contribute to your progress. Taking an online course or completing a training session could help you improve your leadership skills through structured lessons and activities. Indeed Editorial Team. (2023, June 30). Leadership Traits: 10 Top Qualities of Effective Leaders. Indeed. https://www.indeed.com/career-advice/career-development/top- leadership-traits

Kirkpatrick, S., & Locke, E. (1991, May). Leadership: do traits matter? Academy of Management Executive. https://learn.umgc.edu/content/enforced/640930-M_001034-01- 2218/Leadership%20-%20Do%20traits%20matter.pdf Leadership competencies are leadership skills and behaviors that contribute to superior performance. By using a competency-based approach to leadership, organizations can better identify and develop their next generation of leaders. SHRM (2008, March 1). Leadership competencies . https://www.shrm.org/ResourcesAndTools/hr-topics/behavioral- competencies/leadership-and-navigation/Pages/leadershipcompetencies.aspx Stevenson, H. (2023). Leadership style, emotional intelligence, and organization effectiveness. Cleveland Consulting Group, Inc. https://www.clevelandconsultinggroup.com/articles/leadership-style-emotional- intelligence-organizational-effectiveness.php Stockton, H., Dongrie, V., & Neveras, N. (2014, March 7). Leaders at all levels. Deloitte Insights. https://www2.deloitte.com/us/en/insights/focus/human-capital-trends/2014/ hc-trends-2014-leaders-at-all-levels.html Gandolfi, F., & Stone, S. (2017). The Emergence of Leadership Style: A Clarified Categorization . Review of International Comparative Management. Document posted in UMGC BMGT 365 7380 online classroom, archived at https://rmci.ase.ro/no18vol1/02.pdf University of Maryland Global Campus (UMGC). (n.d.). Life Science Nutraceuticals, Inc. Company Profile . Document posted in UMGC BMGT 365 7380 online classroom, archived at https://leocontent.umgc.edu/content/dam/course-content/tus/bmgt/bmgt-365/

document/Life%20Science%20Nutraceuticals%2C%20Inc.%20%28LSN %29%20Company%20Profile_rev_%202021.pdf

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