The paper "Dick Smith's Business Success" is a great example of a business case study. A leader, as is generally be explained, is an individual who guides and influences others. Leadership is an essential feature of social and economic change (Antonakis 2011, p. 256). Charismatic leaders play a significant role in creating the prevalent state of mind of the society. They also serve as symbols of a society's moral fabric. Likewise, transformational leaders articulate the values that bind the society towards meeting common objectives, and most importantly, they have the capacity to conceives, influence, motivates and articulates societal goals that unite people to pursue common objectives (Takala 2005, p. 48-9).
One such transformational and charismatic leader, as demonstrated in the case study, is Dick Smith. This paper presents an analysis of a case study to establish what has contributed to Dick Smith's business success, Attributes contributing to Dick Smith’ s Charisma, and lastly whether Dick Smith is a transformational leader. Question 1: What has contributed to Dick Smith's business success? The key contributors to Dick Smith's business success include his personal philosophy. Dick Smith's personal philosophy anchors in showing gratitude and serving others.
As explained in the case study, the philosophy was imparted to him while he was a child. Dick Smith also valued freedom of speech and virtues of hard work. The two values have enabled him to be a dedicated philanthropist, as well as to be a successful businessman. Dick smith's charisma also enabled his business success. As illustrated in the case study, Dick Smith has a personal magnetism that has had a momentous impact on Australian society. He has a unique capacity to connect with people and win their admiration and respect.
It also enabled him to connect with other business leaders hence expanding his influence in the corporate world. Hence, personal philosophy, values, and charisma were significant contributors to Dick Smith’ s business success. Krone (2014, p79) views personal philosophy and values as critical for shaping an individual towards life’ s later events. His key argument is that childhood contributes to building one’ s personal philosophy. Hence, Dick Smith’ s upbringing, as shown in the case study, was instilled in him while a child. Krone (2014, p. 80) also describes values as principles or things one prefers.
In this case, while philosophy and personal values are not similar, they shared certain commonalities that contributed towards Dick Smith’ s business success. His philosophies were orientated towards finding total meaning by showing other’ s gratitude and service. In fact, he was a selfless individual who was oriented towards realising the good in society. He was also philanthropic. According to Takala (2005, p48), personal philosophy and values are crucial for the development of altruism, which makes sure that a leader’ s behaviours are motivated by an altruistic motive.
In turn, altruistic motives, such as the need for social affiliation, acquire power and makes achievements are key drivers for a successful entrepreneur who has an understanding of the customers, desire to take risks, and orientation to sacrifice capital for later success (Arham et al. 2013, p117-8).