Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
While a considerable number of successful companies, such as 3M Company, General Electric, and Johnson & Johnson, provide opportunities for leadership development, these programs are still rare in many organizations. At the same time, their importance is difficult to overestimate as leadership development provides multiple advantages for businesses.
First of all, investments in leadership development contribute to the improvement of a company’s bottom-line financial performance, the reduction of costs, increased revenues, and customer satisfaction. Leaders look at issues from different perspectives providing efficient solutions, motivating employees, and ensuring the smoothness of operational processes. At the same time, the presence of leadership development programs allows to attract, develop, inspire, and retain talented specialists reducing costs associated with turnover and external education. According to Valentine et al. (2020), “leadership development is expanding a person’s capacity to be effective in leadership roles” (p. 328). In return, competent leaders attract and inspire professionals as well. Another benefit of leadership development is its ability to determine business strategies, shape appropriate organizational structure, and improve employees’ leadership skills essential for efficient performance and corporate goal achievement. Finally, leadership development programs contribute to people’s endurance and adaptability to changes in a highly unstable business world.
At the same time, the poor presence of leadership development programs in a considerable number of companies may be explained by challenges that currently exist in this sphere. According to Iordanoglou (2018), one of these barriers is the inapplicability of existing programs for current responsibilities as “the nature of the challenges that managers were facing was rapidly changing; however, the methods that we were using to develop them were staying the same” (p. 118). These challenges include demographic change, globalization, scarcity of resources, values pluralism and individualization, scarcity of resources, technology convergence, and increasingly digital lifestyles (Iordanoglou, 2018). In addition, a company’s inner conflicts or the peculiarities of its organizational culture may provide additional challenges. For instance, senior leaders may demonstrate a lack of support for a leadership development program.
From a personal perspective, leadership coaching may be regarded as one of the most appropriate leadership development strategies as it ensures the most harmonious and natural way of learning on the basis of mutual respect essential for successful outcomes. In addition, this strategy contributes to the development of communication skills, self-awareness, discipline, and patience essential for a leader (Valentine et al., 2020). Coaching includes the explanation of appropriate behaviors and the rationale of actions taken, accurate observations, the provision of alternative solutions, and the reinforcement of positive behaviors.
A company may execute this strategy through the invitation of outside professionals or the organization of online consultations for employees who aim to improve their leadership skills. In the majority of cases, outside coaches are specialists with counseling or psychological background – thus, they may provide education in accordance with people’s individual needs and explain their mistakes efficiently. At the same time, coaching is an efficient strategy for leaders who face psychological and physiological difficulties and chronic stress (Valentine et al., 2020).
Finally, coaching provides correct guidance for potential leaders who may use it in order to educate leaders in the future or explain subordinates’ mistakes. In other words, through coaching, leaders may develop communication skills and emotional intelligence to apply this knowledge, building solid relationships with colleagues on the basis of mutual understanding, trust, and respect.
References
Iordanoglou, D. (2018). Future trends in leadership development practices and the crucial leadership skills. Journal of Leadership, Accountability & Ethics, 15(2), 118-129.
Valentine, S. R., Meglich, P. A., Mathis, R. L., & Jackson, J. H. (2020). Human resource management (16th ed.). Cengage.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.