Effective Managerial Leadership in Private Sectors - Research Proposal Example

Effective Managerial Leadership in Private Sectors (Name) (University) Contents 1.0 Introduction 3 2.0 Background 4 5.0 Purpose 8 6.0 Assumptions 9 7.0 Methodology 10 7.1 Data Collection 10 7.2 Data Analysis and Representation 11 8.0 Procedure 11 There are many leadership theories and ideas, but there has never been strict consensus on the best course of action in terms of an effective leadership style (Allio, 2013). The increased interconnectivity of global markets means organizations require dynamism and an innovative and creative approach both internally and externally in the private sector. Private sector leaders are typically responsible for the direction and strategy of their organization both internally and externally. This paper will examine aspects of leadership required in private sector leaders that enable them deal with the demands of the modern business environment. This study might however not be as suitable for lower level employees or leaders of small and medium organizations. 12 9.0 Long-Range Consequences of the Research 12 References 13 Effective Managerial Leadership in Private Sectors 1.0 Introduction Leadership is said to be the heart of any institution or organization. As a result, failure or success of an organization is determined by the kind of a leader that is place. Leadership is properly defined in actions than in theoretical aspects. In this regard, a leader can be either good or bad. Consequently, there no distinct definition of the term leadership since it best defined when it is in action (Day &Halpin, 2014). Essentially, leadership in various business organizations plays a pivotal role in determining a competitive business environment for the organization. Apparently, an organization that has desire to prosper and realize maximum output has to consider good leadership. Leadership in private sectors is always effective and up to the required standards (Bolden et al. 2014). In most cases it is said that the private sector exhibit exemplary leadership skills since the leaders are obligated with various fundamental goals to achieve. Leadership in private sector is always aimed at realizing maximum output that will enable proper service delivery to realize significant profits. As such, this retrospect report is aimed at identifying the characteristics of an effective private sector leader with exemplary managerial skills that can aid in maximum output and the role of a learning executive in the leadership sector in relation to other contextual factors. The research will be guided by the following research questions; i. What are the characteristics of an effective leader, notably in the private sector? ii. What is the importance of knowledge management? iii. What are the contextual factor that influences a leader’s effectiveness? iv. What are the roles of an executive in enhancing an effective leadership within a private organization? 2.0 Background The private sector is in most cases is known in delivering high quality leadership output (Gill, 2015). The sector has been traditionally known in producing quality leaders who aim at fulfilling the set standards. This is because; the private sector aims at achieving a set goal by the owners. As a result, various leaders have to ensure that they achieve the set goals. Apparently, the private sector has leaders with exemplary skills that aid in realization of good results in the industry (Hollenbeck, 2015). Leadership in the private sector emphasize on quality production of services. Various challenges that face the private sector in terms of leadership are dealt with quickly. This aids in effective delivery of services by various leaders (Kahn, 2013). There are specific qualities that ensure effective leadership in the private sector. Specifically, leaders in various private institutions have proper listening skills to their clients, they have the art to influence and persuade and effective communication (Kahn, 2013).). Fundamentally, these leaders are well versed with various leadership styles based on the situations. Essentially, they embrace situational theoretical leadership to deliver effectively in all departments in their sector. Consequently, leadership in the private sector is still the best since the results are always good. Most of the private leaders are always ready to take risks in their positions just to realize good results. They maximize any opportunity that they see can make a profit. They therefore stand out as the best. 3.0 Problem Statement Leadership is the heart of every activity that various human beings involve in (Day &Halpin, 2014). In this regard, it has to be considered serious for any country, institutions or business organization to prosper and realize good results. This report will therefore explore various factors that determine effective leadership in the private sector. Additionally, exemplary traits of effective leader in the private sector will be discussed in the report. As such, the report will be vital to any organization since it will stipulate qualities of an effective leader that an organization has to take up (Bolden et al., 2014). 4.0 Literature Review The private sector is utilized as a benchmark to assess the degree to which general society has advanced towards what is ordinarily considered as abest practice, especially in effective leadership. Given the current circumstances, and all the more particularly, the budgetary and temperate emergencies, it is auspicious to address whether the private sector is the ideal benchmark, to the degree to which numerous private organizations are currently incompletely government owned, one could address whether the regular supposition that private sector leadership is effective (Sims & Quatro, 2005). Private sector leaders are said to be more optimistic about the expected results. The private sector leaders concentrate on short term and quick results that are manageable and easy to handle.In China there is a common adage which says, a long journey starts with one step, and this is true in the case of private sector leaders, they take one step at a time in order to realize their end goals, and this is a bottom-up approach. Smith and Foti (1998, p.147) attempted a study examining the qualities of new leaders and found that the attributes of predominance, knowledge and self-viability were essentially higher in developing pioneers than different people who were not named rising leaders. The private sector is known for giving young and new leaders a chance to exercise their leadership abilities. As per Furnham (2005, p.572), great leaders more often than not have attributes, for example, diligence, development and a readiness to assume liability for their activities. . Furnham (2005, p.574) recommends that albeit there are various qualities, which have all the earmarks of having little understanding with respect to which attributes add to a leader being successful. Yukl (2013, p.146) comparably recognizes certain attributes identified with great leadersthat incorporate a high resistance to anxiety, enthusiastic development, individual uprightness, inspiration, and self-assurance. An economy of instability, the main wellspring of enduring competitive advantage is knowledge. Effective leaders are those that reliably make new knowledge, spread it broadly all through the entity, and rapidly typify it in innovations and products. The globes oblige private sector leaders to envision changes and complete a speedier cycle of knowledge creation and activity given the new information (Prafka, 2009) Information technology has turned into a key in the usage of knowledge management. "IT's part is developing as an integrator of interchanges innovation, as opposed to singularly a manager of data. The discriminating part for IT lies in its capacity to bolster correspondence, coordinated effort, and those looking for knowledge. Information technology and the invention of the computer have enormously improved thehierarchical adequacy and psychological development (Prafka, 2009). Another zone of correspondence that information technology has affected is social action. Personal computer systems giveintend to separate various leveled boundaries that regularly repress the stream of knowledge and creativity. Knowledge management is an idea established in common sense and mostly utilized as a part of the business world. As per Wiig (1997), Leaders and entities hone information administration to accomplish two fundamental issues: the primary is to make the endeavor go about as shrewdly as could reasonably be expected to secure its suitability and general achievement. The second goal is to increase comprehension of the best estimation of learning resources. While the essential clients of knowledge management live in the corporate group, different associations can benefit enormously from the practice.Skyrme and Amidon (1999) point out seven successful knowledge management indicators: solid connection to a business basic, learning initiative, convincing vision, knowledge leadership, ceaseless learning at all levels and among people and groups, a well-developed technology infrastructure and, precise hierarchical learning procedure. The learning executive can be explained using several theories. The transformational theory states that transformational leadership is the process of effecting major changes and increasing the organization's commitment to the organization's missions, strategies, and objectives (Burns, 1978). Prafka(2009)claimed that due to the constant globalization, diversity and the criticality of time in organizations ability to beat its rivals, the need for transformational leadership have never been greater. The contingency theory is basedon the ideology that divergent behaviors can be effective in different situations. Contrariwise these behaviors may not be optimal in divergent situations. In essence, leaders should oversee that the employees are motivated. In the event that a working context changes, leaders should employ an effective leadership in conforming to such changes (Prafka, 2009). Leadership approach is pivotal in determining the approach used in disseminating their leadership roles; where organizational context such as organizational leadership and history are considered(Prafka, 2009). Leaders operate in different context thus different approaches can be used in order to manage their issues. According to thesituational theory, an organizational context can be complex and unique: the organizational issues cannot be solved with one specific method. Effective leadership depends on economic, cultural, industry setting, structure, technology, size and strategy (Prafka, 2009). The importance of various leadership approaches varies with the organizational context. Two of the most important contextual factors that affect leadership are patterning and networks (Prafka, 2009).Patteringis defined as choosing priorities and isolating them from the endless stream of activities. Prafka(2009)advocates that network leadership are the development and maintenance of interpersonal relationships and individual position holders in an organizational context. Additional factors, notably contextual factors such as flow, communication network approach, quality and degree of information, and information processing impact a leader’s probable effectiveness (Prafka, 2009). 5.0 Purpose The purpose of the study is to identify the unique characteristics of the private sector managerial leader, and the unique situational characteristics of the private sector that might either facilitate or get in the way of effective private sector managerial leadership. This paper seeks to understand the role played by knowledge management in effective private sector managerial leadership. The study objectives are; i. To identify the characteristics of an effective private sector leader ii. To identify the significance of knowledge management in the success of a private sector organization iii. To identify the role a learning executive plays in effective private sector leadership iv. To identify the contextual factors that affect a private sector leader’s ability to exhibit effective leadership Study Hypothesis 1. The primary purpose of private organizations is profit maximization (Dubrin, 2012). Private sector organizations therefore use unique tools and methods to ensure their organizations achieve high levels of profit maximization. 2. Effective knowledge management affects the leadership ability of the private sector leader. The ability of a leader to remain flexible and implement changes in order to remain competitive depends on their knowledge management (Dudovskiy, 2014). 3. Contextual factors in private sector firms determine the effectiveness of managerial leadership in the private sector. The effective private sector leader’s success is determined by such contextual factors as accountability rules and organizational culture (Leatrice , 2013). 4. The learning executive is the most effective private sector managerial leader 6.0 Assumptions This paper assumes that private sector organizations are uniquely effective, creative and successful organizations both in terms of financial and non-financial success indicators. It assumes that the success and position of private sector organizations comes from the unique characteristics both of their leaders and inspired by or pushed by the actions of their leaders. This paper also assumes that there is greater responsibility and demand from privet sector organizations from various stakeholders, from the shareholders, customers and boards of governors, that necessitate differentiation in terms of leadership traits. 7.0 Methodology The study use both qualitative and quantitative research methodologies to investigate the various aspects of private sector organizations. It uses an analysis of financial and non-financial performance indicators to paint a clear picture of the position of private sector organizations in the market. It also uses qualitative research to identify the leadership factors associated with success in the private sector. 7.1 Data Collection Data Collection is pivotal to the research hence the need for an effective approach in collecting available data in support of the research objectives. In this regard, the research will search for evidence of red tape and formalization, and the problems caused by these two. In effectively capturing the intended research approach, the use of surveys will be instrumental given that they present an up to date individual’s viewpoint. Contrariwise, it will offer a significant amount of information that will guide the research. The surveys will use random sampling where different participants will be selected. The information will be recorded on available media notably ipads, smartphones among others. The research will investigate similarities and differences in the occurrence of formalization and red tape in both categories of the organization. The third point of interest was job satisfaction. The literature suggests that even within the private sector organization, there might be different factors affecting motivation among the different managers. Depending on the nature of the organization, accountability to the differentstakeholders, might affect the leadership effectiveness of the private sector leader. The paper will also investigate the probability of behavioral differences among private sector leader. Behavioral traits affecting their decision making might affect leadership effectiveness (Orazi & Turrini, 2013). The second part of the research procedure will involve adirect survey of the leadership field. It will involve taking account of the daily leadership procedures of both public and private sector leaders and identifying the differences and similarities in their behavior and leadership trends. It will also involve a collection of information and reactions from subordinates and junior managers on the results and effectiveness of the leadership traits and decisions of both public and private sector leaders. 7.2 Data Analysis and Representation The data obtained will be presented in forms of surveys, where appropriate representation tools will be used. The inclusion of appropriate tools will be instrumental in highlighting key findings that enable an easy research approach. Some of the representation tools will include charts, graphs, and tables, to name a few. The data obtained from the field will be cross checked with the literature review in support of the research. 8.0 Procedure The first part of the methodology will involve an in-depth literature review based on the objectives and hypotheses of the paper. The literature review was conducted by focusing on specific types of publications and literary works, as well as a focus on specific keywords. The literature review will focus on such keywords as theprivate sector, knowledge management, learning executive and private sector managerial leadership. The literature review will prioritize journals and books as sources of information. The literature review will also involve structured interviews to gather information from private sector managers at different levels as well as their employees and subordinates. Scope and Limitation There are many leadership theories and ideas, but there has never been strict consensus on the best course of action in terms of an effective leadership style (Allio, 2013). The increased interconnectivity of global markets means organizations require dynamism and an innovative and creative approach both internally and externally in the private sector. Private sector leaders are typically responsible for the direction and strategy of their organization both internally and externally. This paper will examine aspects of leadership required in private sector leaders that enable them deal with the demands of the modern business environment. This study might however not be as suitable for lower level employees or leaders of small and medium organizations. 9.0 Long-Range Consequences of the Research The research establishes the characteristics of an effective leader in the private sector. Essentially, the qualities of an effective leader include but not limited to; being reliable, able to manage various risks and well versed with their duties (Day &Halpin, 2014). The research therefore enables any private organization to vet various leaders based on a fore mentioned qualities. Additionally, the private sector has to allow knowledge management so as to realize its success (Pasalis, 2014). Evidently, the leader has to allow various workers to share their ideas that might lead in the improvement of the organization. Evidently, the private sector is faced by various conceptual factors such as opposition from the government. This factors tend to pose a challenge in threes sectors hence hindering effective leadership (Vicere&Fulmer, 2013). References Allio, R. J. (2013). Leaders and Leadership- Many Theories, But What Advice is reliable? Strategy and Leadership, 4-14. Blanchard, K. (2014, October 22). Public vs. Private Sector: The Big Five Elements of Effective Leadership and the Five Corresponding Outcomes. Retrieved from How Gov. Leads: http://howgovleads.com/2014/10/22/public-vs-private-sector-the-big-five-elements-of-effective-leadership-and-the-five-corresponding-outcomes/ Bolden, R., Gosling, J., Marturano, A. & Dennison, P. (2014). A Review of Leadership Theory and Competency Frameworks. Journal on Leadership. 1 Burns, J. (1978). Leadership. New York: Harper & Row. Day, D. V. &Halpin, M. S. (2014). Leadership Development: A Review of Industry Best Practices. Technical Report1111: no.ia22333-5600 Dubrin, A. J. (2012). Leadership: Research Findings, Practice, and Skills. Cengage Learning. Dudovskiy, J. (2014, April 8). Leadership in Private Sector Organizations: a brief literature review. Retrieved from Research Methodology: http://research-methodology.net/leadership-in-private-sector-organisations-a-brief-literature-review/ Furnham, A. (2005). Self-estimated Intelligence, Psychometric Intelligence and Personality. Psychologia -An International Journal Of Psychology In The Orient, 48(3), 182-192 Gill, R. (2015). Leadership in the Public Sector- is it different? Research Focus. Leadership Trust. Accessed from http://leadership.org.uk/wp-content/uploads/2014/04/671.pdf Hollenbeck, G. P. (2015). Leadership development:Contemporary practices. Evolving practices in human resource management (pp. 172-200). Kahn, J. (2013). The world’s most admired companies. Fortune. 206-217. Leatrice, T. (2013). A quantitative comparative study of organizational culture and leadership accountability within public and private organizations. University of Phoenix. Lovegrove, N., & Thomas, M. (2013, September). Triple-Strength Leadership. Harvard Business Review. Orazi, d. C., & Turrini, A. (2013). Public sector Leadership: New Perspectives for Research and Practice. International Review of Administrative Sciences, 486–504. Pasalis, D. (2014). 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