Role of Leaders in Organizational ManagementAkashdeep SinghStudent ID: 300287058Course: BUSN 1210CRN: 32024Section: 050Class Hours: Thursday – 6:30 p.
m. to9:20 p.m.Due Date: 25th January,2017(Thursday) Douglas College Tableof Contents Serial Number Topic Page No.
/Paragraph 1 Abstract 3Para 1 2 Management styles 4/Para 2 3 Communication skills 4,5/Para 3 4 Motivational skills 5/Para 4 5 Reference 6,7 AbstractBefore talkingabout organization, it is important to describe them. Organization is a groupof people who gather themselves to achieve a specific goal. Organizations areplaying vital role in development. Organizations whether big or small, profitor non-profit have contributed significantly in improving our lives. Moreover,they are occupying major part of landscaping industry. For accomplishment ofgoal, it is important that an organization runs in right manner, and a personwho is responsible for this is called manager or leader of that organization.He takes all decisions and is answerable for their outcomes. Qualities ofleader greatly determine how successful an organization is.
There are manysuccessful leaders in the world and Warren Buffet is one of them. He is amongone of the most successful investors. Warren Buffet is CEO of BerkshireHathaway which is investment corporation having its headquarters in Omaha,Nebraska .This corporation has number of employees and is among one of themost successful corporations in stock investing and management .Warren Buffetachieved this with help of its outstanding leadership qualities .Due to histhese remarkable qualities he is among top richest persons in the world .Hiscompany is also controlling some large companies. Role of Leaders in Organizational ManagementLeader plays important role inorganization, all work is done under his supervision, without a leader,organization will be unable to function in effective way.
A leader must know how to manage work and howto create a safe and wealthy working environment. Instead of it a leader mustalso know how to work in multicultural environment and difference between whatis wrong and what is right MANAGEMENT STYLES Management means organizing people toaccomplish some specific goal. Leading, Planning, Organizing, and controllingare activities needed in management style.
There are three types of managementstyles Autocratic, Democratic and Laissez- Faire. To achieve his target hefocused on Laissez Faire method .Instead of it he recruited honest , skillfuland likeable people to run his business .Moreover , in his company workersenjoy full freedom and he didn’t punish anyone for any mistake ,instead of ithe encourage to do better next time .Buffet hire those people who areinterested in doing work or in other words you can say those people who love towork .His attitude towards his workers is very lenient and he is very down toearth and humble person.
That’s the reason why Warren Buffet is so successfuland by recruiting skilled workers he showed his quality of smartness (Cheah,2013).He was havingdifferent managerial axioms for handling managerial costs, dishonest employees.Instead of it he also gave full form of leadership (Buffet and Clark 2009).COMMUNICATION SKILLS Communication skill means how youinteract with other persons. Buffet is brilliant in this aspect. According tohim if you want to say something say it with full confidence and energy so thatit becomes enjoyable for other people. He was energetic right from thebeginning that’s why, he earned much success (Ward, 2017).
According to Buffet, manager should notcompare their sales with other companies. This give rise to corporatehyperactivity which means they will not be able to run business effectively andorganization will be unable to achieve its objective (Hagstorm, 2013).Moreover, while delivering a speech oneshould focus on key objects instead of delivering whole speech of full length,whereas key objects means important information which is essential for runningbusiness. He also did not hold some meetings to save time (Connors, 2009). MOTIVATIONAL SKILLS Warren Buffet thinks differently than otherinvestors. He is very motivational speaker. He always motivates his workers, todo the best, instead of it he has given many motivational quotes which areenough to motivate any person. He is known for his two rules of in investment 1.
)Never lose money 2.) Never forget rule No. 1 (Town, 2017). These rules indicate value of money. He usedthese rules to invest money which became a huge success. It is only due to hismotivation that everyone wants a leader like him, because if motivation isgiven to a person by some successful person his willingness to work increasesand he or she became oriented towards work and if one works more success withfull enthusiasm target can be achieved. ReferencesBuffet, Mary , David (2009). Warren Buffett’s Management Secrets: Proven Tools for Personal and Business Success.
Retrieved from https://books.google.ca/books?hl=en&lr=&id=NlEtFmJgCxUC&oi=fnd&pg=PA125&dq=motivation+skills+warren+buffett&ots=LXcmMAJuBN&sig=cxb8N4WVaRnfsM4uWZT7_dbh6Cc#v=onepage&q=motivation%20skills%20warren%20buffett&f=falseCheah Agnes. (2013) Management Style Web blog post.
Retrieved from https://agnescheah.blogspot.ca/p/blog-page.htmlConnors, Richard J.(2009) Warren Buffett on Business: Principles from theSage of Omaha. Retrieved fromhttps://books.google.ca/books?id=2RojDgAAQBAJ&pg=PA38&dq=communication++warren+buffett&hl=en&sa=X&ved=0ahUKEwiFp8v16vLYAhVN5GMKHawDDLUQ6AEIMjAC#v=onepage&q=communication%20%20warren%20buffett&f=falseHagstorm, Robert G.
(2013) The Warren Buffet Way (3rd Ed.).Retrieved fromhttps://books.google.ca/books?hl=en&lr=&id=AXyrAAAAQBAJ&oi=fnd& pg=PR7&dq=communication+skills+warren+buffett&ots=whQGKWARoP&sig=WoLcAnwcYia4eplrz_58iH5fB08#v=onepage&q=communication%20skills%20warren%20buffett&f=falseTown, Phil (2017). 29 Warren Buffet Quotes on Investing & Success Webblog post. Retreived from https://www.ruleoneinvesting.
com/blog/how-to-invest/warren-buffet-quotes-on- investing-successWard, Marguerite.(2017, May 1). 5 communication skills Waren Buffet andothersuccessful leaders use to get ahead Web blog post. Retrieved from https://www.cnbc.com/2017/05/01/5-communication-tricks-warren-buffett-used-to-get-ahead.html