Navigating Global Challenges: A Focus on Leadership Strategies in the Modern Business Era

Section 1:

Introduction:

Leadership is the ability to motivate people for promoting their voluntary action in terms of enhancing their professional standard, productivity and directing them in right way to grab the success. In modern day, business leaders face different global challenges in terms of maintaining perfect balance between the internal and external business environment of their organisation. today’s business leaders have to manage different types of activities within and outside their organisational boundary. Externally, the leaders face globalised and complexed environment which is full of competitions and challenges. in modern business era, the most common challenges that business leaders face are impact on changing market on organisation, increasing demand of skilled staffs, needs of wide ranges of knowledge, increasing competitiveness in the external world, globalisation and modernity in the business world. this assignment is going to highlight the two important challenges that are face by todays’ business leaders. In addition to this this assignment will also make the critical discussion on the usefulness of intrapreneurial and entrepreneurial leadership strategy. in the second section, this study will reflect on personal philosophy on leadership with highlighting self-reflection on the five type of personal leadership incidence. Finally, this assignment will make suitable conclusion in term of inferring the overall understanding of this discussion. For those seeking comprehensive insights and guidance, consider exploring resources on business dissertation help.

Two Global challenges:

In today’s fast paced business world, business leaders face different global challenges which impact on their way of activities, designs and strategies. Two important global challenges that today’s business leaders face are as follows:

Increasing competition in global market:

According to Schutte and Barkhuizen (2016), organisational leaders are not only associated with influencing the voluntary participation of employees in organisational activities, but also managing different global aspect outside the organisational boundaries such as external politics, reviewing international business laws and changing demand of customers. Due to globalisation, there is rapid changes in the overall business decisions, international business activities and the global organisational interact with one another. As stated by Ma and Seidl (2016), with implementing technological advancement todays organisational ae able to communicate easily with their customers as well as investors, which not only provides motivate the existing organisations to expand their market footprint in the international business world but also provides new opportunities to entrepreneurs to open their new business. therefore, globalisation promotes the increasing level of competitiveness in the international market which pose heavy challenges on the global business leaders. According to Schutte and Barkhuizen (2016), modern era of business seeks high skilled leadership strategy which would be able o cope with the ever-increasing market competition with developing suitable organisational strategies. Increasing competitiveness in international market poses pressure on the global business leaders for shaping their leadership skills and knowledge on how to improve the organisational framework as well as market strategy for coping up with these increasing competitions. On the other hand, increasing global competition in the market makes it obligatory fir business leaders to get regular updates on the internal business activities such as share markets, challenges in the exchange and ever-changing market value of different market shares. On the contrary Jumaa and Alleyne (2017) argued that, although increasing competitiveness in the global market pose challenges on business leaders it will also brings opportunities for these leaders in terms of developing the competitive advantage of their organisational by setting strong market strategies. Through manging both the external and internal business world, toddy’s organisational leaders can use this ever-increasing competition in positive way to improve the professional standard of workforce and enhancing productivity of their organisation in terms of posing high kevel of competition towards other international businesses. Different theories can be used in terms of describing how competitiveness pose impact on the global market leaders. Based on Great Man Theory, business leaders need to be highly skilled, intelligent and confident inn terms of taking useful decision a well as organisational strategies which will direct organisational staffs to take right decision for developing productivity and competitive advantage for their organisation (Rutigliano et al. 2017). Therefore, global leaders need to focus on both the internal and external organisational environment in terms of dealing with the ever-increasing competition in the market. through managing their strength, weakness and opportunities in the internal market, leaders can improve the overall productivity if workforce as well as organisation. in addition, to this through analysing the external environment, global market leaders would be able to understand the actual business trend in international market, global business agendas and interconnection of global businesses with one another.

Managing internal stakeholders and organisational politics:

Globalisation changes the overall business landscape in the international level by improving the market decisions of businesses, way of their interaction and buying behaviour of customers. According to Rutigliano et al. (2017), if global leaders need to cope-up with the impact of globalisation, they first need to analyse and improve the internal aspects on their organisation such as managing their organisational policies and manging internal stakeholders. Due to the changing market trend as well as the ever-changing buying pattern of customer, global market leaders face hug challenges in term of managing their internal business world. todays have to focus on continuous modification of their organisational policies and stakeholder management. Each organisation has two types of stakeholders such as internal and external stakeholders. Internal stakeholders are the persons who have direct impacts on the organisational strategies and decisions, such as board of directors, mangers, executives, business units, operation teams, internal customers, users and subject matter experts (Kim et al. 2017). On the other hand, external stakeholders’ impact on the organisational strategies and decision through some indirect medium. Example of external stakeholders are customers, local government, central government and public. In order to manage the organisational politics, organisational leaders can use different theories such as Trait Theory, Contingency Theory, behavioural theory and situational theory. Organisational leaders can use the Behavioural theory in term of developing their own behaviour and internal strength which will assist the, to develop effective strategies for the organisational Behavioural theory will also assist the organisational leaders to focus on improving the productivity as well as strength of their staffs as well a mangers which will improve the organisational productivity. on the contrary Cunningham et al. (2015) argued that, improving behavioural characters of leaders is not enough for analysing the internal environment of organisation, rather it needs to evaluate the overall situation inside as well as outside the organisational boundaries.

From the above-mentioned discussion, it can be stated that due to globalisation one of eth most important challenges that market leaders face is managing internal stakeholders and developing proper organisational politics. Due to ever -changing market trend, changing demand of customers and developing market competition in the internal business landscape, managers face pressure on making regular management of internal stakeholders of their organisation, in additional to global market leaders are also obliges to improves the organisational politics which will assist them in making the organisational values, market strategies and briskness dealings process stronger than earlier in term of coping with the ever increasing competition and ever changing market trend. In this aspect the above-mentioned theories can assist the organisational leaders in understand the proper strengths and weakness of internal stakeholders of their organisational which will not only assist the, to improve the overall professional standard of the workforce but also develop relevant organisational politics in term of developing long terms customer base.

Critical discussion of importance of intrapreneurial and entrepreneurial leadership:

According to Malewska and Sajdak (2014) entrepreneurial leadership is referred as the process of managing group of people in terms of achieving common organisational goals by using proactive entrepreneurial behaviour such as risk, innovation and creativity. on the other hand, intrapreneurial leadership process is associated with making necessary changes in the existing organisational principles and strategies with considering the strength and preference of the employees. According to Ghaedi and Rad (2016), global market leaders neds to use both eth leadership styles such as entrepreneurial and intrapreneurial leadership styles in term in dealing with global market challenges. Through applying the entrepreneurial leadership styles, global market leaders will be able to develop innovating market strategies and creative thought that are necessary in dealing with changing global market landscape. Moreover, through using entrepreneurial leadership styles, leaders will also be able to make smart tactics in terms if analysing the external environment and taking new strategies that would be relevant with meeting the changing neds of their clients. On the contrary Olson and Simerson (2015) argued that sometimes applying entrepreneurial leadership will create some challenges on eth global market leaders such as it is highly time-consuming and can create conflict among staffs as the new strategies can not be accepted by all staff I the organisation. in this aspect intrapreneurial leadership styles is applicable in coping with the global challenges. In case of intrapreneurial leadership process, global leaders a make modification in the existing decision and strategies which will take less time and effort. On the contrary Aarons et al. (2014) argued that, intrapreneurial, leadership styles although is time-saving, it is irrelevant to deal with modern business world as it makes mere modification in existing organisational strategy rather taking innovative strategies. Therefore, it can be stated that, in the context of global business world, today’s leaders need to analyse the overall external and internal market in terms of deciding what types of leadership will be relevant for their organisation. Through conducting proper reviewing of current market trend, customer demand and international business world, leaders will be able to understand which types of leadership styles would be perfect for coping with the global market challenges.

Section 2:

Personal leadership philosophy:

On discussing my personal leadership philosophy, I would like to discuss my experience that I have gained throughout the module. During the module, I have experienced the importance id different types f leadership styles which assist me to develop in-depth understanding on what type of leadership styles can be applied in different time. I can use different leadership theories on discussing my personal leadership philosophy. By applying the Contingency theory, I am able to understand what type of leadership styles would-be appropriate for dealing with the ever-changing market position.

Based on this theory, if organisational leaders want to cope with the ever-increasing business competition in the international business landscape, they need to focus on selecting the appropriate types of leadership strategy that will be relevant to deal with this situation. for example, most if the international organisation use democrat leadership styles which will assist the, to discuss each organisational strategy with their staffs and mangers inn terms if resolving the situation. During the module I have applied this theory in selecting the appropriate leadership styles while working in different team as the team leader. This theory assis me in setting proper strategies in analysing te external business world, international business matters and interrelationship among different business firms. In my workshop, I use to be assigned with different market projects, in which I had to set proper project management strategies by analysing the internal and external business market. in this aspect the Contingency theory assisted me to focus on the extremal environment and global business agendas in terms odf setting effectives strategies to deal with organisational matters.

According to Aarons et al. (2014), Contingency Theory, although assists leaders to deal with gobl business challenges by selecting appropriate types of leadership styles it is unable to assis the business leaders about developing their professional standard and quality as well as the quality of ther workforce. In this aspect, I have also used Trait theory which assisted me to depict the required internal quality of leaders of other teams in the workshop with. By applying Trait Theory into workplace, I would be able to deal with competitiveness in the market by shaping my intelligence, knowledge and skills. According to AbuZaid (2016), in term of dealing with ever increasing market competition, global business leaders needs not only to develop effective organisational strategy to deal with external environment outside their organisational boundaries but also to focus on developing their own professional and personal skills to improve the internal environment if the organisation for example, in terms of coping with the ever-increasing market competition pose by potential rival Aldi, Lidi, the famous retail organisation in the UK Tesco pl has developed strategy to improve their internal organisational environment by developing eh professional standard of employees, improving organisational values and internal market strategies.

I can also use Great Man Theory, which assist e to improve my quality in managing proper balance in the external and internal environment of workshop. Several researches have suggested that, if organisational leaders use this theory in their business strategy, they can easily cope up with the global challenges such as internal competitiveness and changing market trend and increasing customer demand. By applying this theory into my workplace, I was able develop my professional and personal skills as a leader. For example, by using this theory I was able to improve my communication skills, interactive skill and decision-making skills. during the first day of my joining into the workshop, I was introvert and little shy, which was my drawback as a team member. During working with different team leaders, I understood that in terms of being a great leader it is not sufficient to manage team members and develop the efficiency level of workforce, rather the leaders need to also focus on improving their own professional and personal skills. After completing the training session when I was appointed a team leader, I have learned that Great Man theory can be used into my work process which will assist me to develop my own skills and professional standard in term sod dealing with several challenges inside and outside the organisational boundaries.

As the Great Man theory highlight the fact that leaders born with their inherent ability to lead an organisation such as confidence, intelligence and social skill, this will empower the self-confidence of business leaders in terms of developing useful business agendas that assist the organisation to deal with ever increasing international competition. On the contrary Aarons et al. (2014) argued that, although Great Man Theory is associated with describing the quality of an ideal organisational leader, it is unable to guide the leader in term of dealing with different market challenges. although Great Man theory assisted me in terms of developing my professional and personal skills, in most the times it was unable to make me understand what type of leadership styles I need to choose in dealing with different leadership activities. in this aspect I can stated that, Contingency Theory is helpful in global leadership context which assist the leaders to develop understanding about selecting the relevant leadership activities and style in terms of managing perfect balance between the internal and external market environment. In this context, Contingency theory can assist business leaders in term of dealing with ever increasing competitiveness in market. By using this theory, global market leaders can use the suitable leadership styles for dealing with increasing international market competition.

BY using the abovementioned leadership theories into my leadership process, I was able to develop my professional as well as personal standard. From my leadership experience that I have gained in my workplace, I was not able to understand about how the organisational leaders can manage their internal stakeholders and external environment, but also this process assisted me to develop in-depth knowledge on changing global market as well as its impact on today’s business world.

Five leadership incidents:

During my work practice, I have experienced different leadership incidence, which develop my professional knowledge on leadership styles and strategies. Five most important leadership incidents are as follows:

Being a leader:

During the middle term of my working session, I worked as team leaders in different group. Being a leader, I have gained lots of knowledge on different global leadership aspects such as global leadership styles, impact of globalisation on leadership and changing external environment that poses important impact on today’s leaders. Through using differs theories I can discus the overall journey as a leader. In order to deal with different leadership processes during the days in which I worked as team leader, Management Theory assisted me to focus on the important organisational roles such as group performance, supervision and managing organisational standard. Through implementing this theory, the I was able to develop important strategies in improving the overall organisational policies such as making effective changes in organisational values and principles and developing proper ethical strategy that will promote level of integrity and trust within the employee. Moreover, the Management Theory also assisted me to improve the employee engagement by providing them strong guidance about how to develop proper professional standard in term of dealing with different organisational decisions. In this aspect Mazutis and Zintel (2015) argued that, along with improving the proper management styles, organisational leaders need to focus on maintaining strong relation among staffs, mangers and higher official which is important for proper implementation of organisational policies and values. In this aspect global leaders can use Relational theories which will assist them to improve the level of connectedness and interaction between staffs and mangers.

Through using Relational theory, I was able o maintain healthy relation between the staff and manger which was important for enhancing the productivity of entire team. moreover, they Relational theory also assisted me to develop positive and synergetic workplace, in which staff work in co-ordinational with one another. Being a leader, I understood that, if I have to deal with global market, I needs to first develop strong bonding with my team members in terms of enhancing the competitive advantage of my organisation.

For managing internal stakeholders, it is important to improve their relation and connected ness with one another. On the other hand, improving organisational politics is based on developing smart tactics and highly modern market strategies which can be formed through making high-skilled workforce. Through maintaining synergistic work process, leaders can make effective discussion with their staffs and higher officials in terms of taking effective decision which will assist the organisational staffs to not only improve their skills but also improve the organisational productivity.

Following a leader:

In my workplace I have also work as team member in tee rly period of my career. During these days I used to work in different team along with different team leaders. This journey assisted me to understand different types of leadership strategy and their usage. Through using different theories, I can describe the different aspect of leadership. By working with different leaders, I understood that leaders can use Situational Theory, which will assist them to analyse the external environment in terms of manging the overall activities of internal stakeholders or organisation. in most of the times when I discus my viewpoint with the team leaders they highlight the importance of Situational Theory, in understanding the type of situation in the global market in terms of developing effective leadership strategy. Through the experience that I have gathered in the workplace by following the leaders, I can say that, if the leaders are able to understand the situation if market outside the organisation, they take easily take effective strategies which will assist the organisation to cope with different global challenges such as competitiveness and ever-changing customer demand. On the contrary Mazutis and Zintel (2015) argued that, only understanding situation is not enough for organisational leaders to understand the external environmental and internal environmental situation of organisation while dealing with developing the strength of internal stakeholders and managing organisational policies. By analysing my work experience as a follower of a leader I can say that, organisational leaders need to have modern management styles which will assist them to implement such smart strategies that are relevant to today’s business trend.

When observing a leadership:

During these days when I worked as trainee in the workshop, I was able to observes different leaders. Throughout the process I was able to gather knowledge on different types of leadership styles and their functions, moreover throughout the session, I was able to observe how the leaders take their leadership srra4geies in terms of dealing with different organisational aspects in eth global context.

Being a colleague of leader:

During my work as the colleague of the team leaders, I was able to understand how the leaders make effective strategies in term off managing internal and external stakeholders. Moreover, during the communication with different team leaders on important organisational matter, I was able tom understand that how the globalisation impact on the leadership styles and its strategies.

Being an intern under a leader:

While I worked under a team leader as an intern, I have gathered knowledge on different leadership aspects such as developing leadership strategies based on the market trend and making strong communication with mangers and staffs. during these days, I used to communicate with my team leaders about my professional knowledge development and issues. Through interaction with team leaders I was able to develop the understanding about how leader manages internal stakeholders by using polite and decent manners.

Section 3:

Conclusion:

From the above-mentioned discussion, it can be stated that, intrapreneurial and entrepreneurial leadership are the two important leadership styles which can be used in the global context in terms of dealing with global market challenges. Through entrepreneurial leadership, organisational leader can develop innovative market strategies which will assist the organisation to cope with the global market competition. On the other hand, the intrapreneurial leadership assist leaders to make proper modification in the existing market strategies in terms of improving the organisational standard and productivity of organisation which is important for enhancing the brand reputation in the global context.

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