Upon returning to the office after your discussion with peers at the Annual Compliance Officers Conference, you decide to further explore the topic of leadership. Specifically, you will research the theoretical bases of leadership and the various styles, including how they can affect the organization.
Use the Library, Internet, and other resources to conduct research on leadership theories and styles. Describe at least three leadership theories and what you consider to be the benefits and deficiencies of each theory. Also describe provide the following for at least three leadership styles:
* a general description
* essential traits
* appropriate situation or situations for use
* expected organizational impact
Which leadership style do you think would be most appropriate for you to use in your new role as a compliance officer for a consulting firm?© BrainMass Inc. brainmass.com October 25, 2018, 7:17 am ad1c9bdddf
LEADERSHIP THEORIES AND STYLES
Theoretical bases of leadership:
1. General description and essential traits
Based on this theory, people inherit certain qualities and characteristics that are suited to leadership. This theory further assumes that there are personality traits and behavioural characteristics that are common among leaders.
According to Kirkpatrick and Locke (2002) from Robbins and Coulter (2005), seven traits associated with effective leadership include, drive, desire to lead, honesty and integrity, self-confidence, intelligence, job-relevant knowledge, and extraversion.
This theory could serve as a guide for managers in designing management training programs. Since being a leader is one of the needed characteristics of a manager, the traits shared by leaders could be the focus of the training and workshop's activities that will be conducted.
3. Appropriate situation for its use
This theory may be appropriate in situations when subordinates are very much influenced by the good traits of their leaders such that they have regards on leaders who possess the desirable traits.
An application of this theory may divert the attention of the management from the needed productivity or performance to the mere display of good behaviours.
The same online source further noted that there is difficulty in explaining leadership using trait theories. To quote their statement, "If particular traits are key features of leadership, then how do we explain people who possess those qualities but are not leaders?" (http://psychology.about.com/od/leadership/p/leadtheories.htm)
5. Expected ...
The leadership and ethical decision-making in compliance officers roles are examined.
Leadership and Ethical Decision Making: ECG
It is now time for you to develop standardized ethics policies for ECG, seeking input from your peers on the Ethics Review Committee to finalize this critical document. It is important that a code of conduct be developed that comprehensively covers expected or potential ethical and other compliance matters. Key areas to be covered in the code of conduct include the following:
1. general business conduct
2. sales and marketing practices
3. business courtesies/gifts (giving and receiving)
4. conflicts of interest
5. relationships with clients, suppliers, influential parties, and coworkers
6. use of company, client, and supplier resources
7. insider trading
8. other areas of compliance
9. reporting, investigative measures, and punitive actions (including the role of the Ethics Review Committee)