Essay: Leadership Success Value: 30% Due Date: 27-Sep-2019 Return Date: 22-Oct-2019 Length: 2500 words (+/-10%) Submission method options: Alternative submission method Task back to top Jim Collins...

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Essay: Leadership Success


Value:30%Due Date:27-Sep-2019Return Date:22-Oct-2019Length:2500 words (+/-10%)Submission method options:Alternative submission method

Task


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Jim Collins stated that a company does not go from good to great overnight but by relentlessly pushing a giant heavy flywheel in one direction, building momentum until a point of breakthrough. The power of momentum is evident in the Harvard Business Review’s (HBR 2017) ranking of the world’s best CEO’s. Judged solely on the basis of financial performance the top leader would be Amazon’s founder Jeff Bezos. However the rankings are now based on not just financial but also on environmental, social and governance (ESG) metrics. This resulted in Bezos coming in at number 71. According to the HBR researchers, the use of ESG information is driven by financial rather than ethical motives.



  1. In today’s turbulent world, how should the success of CEOs be evaluated?

  2. What are the challenges of focusing on just financial metrics to the long term success of organisations?

  3. What are the challenges leaders face in balancing financial and ESG performance metrics? Drawing on current leadership research (in the last 5 years) discuss how leaders should address these challenges.


Use examples of three current CEOs (leaders), to support your answers to questions 1, 2 and 3. Critically evaluate how each leader’s practice of leadership impacts the success of their organisation. You can use a different example for each of the questions above or use the three examples across the questions.


Use relevant theories and concepts from across the subject but especially from weeks 6 to 9 in addressing this task


A minimum of 10 academic/professional references must be used


Rationale


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This assessment task will assess the following learning outcome/s:



  • be able to provide a comprehensive explanation of the role of leadership.

  • be able to critically analyse, in the context of the framework of relevant theories and research, current and projected issues which impact on organisational leadership and organisational success.

  • be able to synthesise issues for organisational leaders and evaluate plausible impacts requiring leadership decisions.

  • be able to explain the relationship between effective leadership and the success of organisations.


Marking criteria and standards


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Criteria



High distinction



Distinction



Credit



Pass



Fail



Knowledge of relevant leadership theories (10)







An insightful selection of relevant leadership theories has been made to address the questions in the assessment. The paper demonstrates comprehensive knowledge and understanding of these leadership theories from across the subject.



A very good selection of relevant leadership theories has been made to address the questions.. The paper demonstrates comprehensive knowledge and understanding of these leadership theories from across the subject.



A good selection of relevant leadership theories has been made to address the questions. The paper shows good knowledge and understanding of these leadership theories .



A satisfactory selection of relevant theories has been made to address the questions. The paper shows satisfactory knowledge and understanding of these leadership theories.


The paper does not demonstrate adequate knowledge of relevant leadership theories.

Evidence-basedapplicationof leadership theory to practice (15)







There is clear evidence of depth in critical thought in applying theory to practice, with quality supporting evidence using an extensive range of high quality information sources.







Sound critical thinking is evident in applying theory to practice using a wide range of quality information sources effectively.







The argument demonstrates the ability to think critically about the application of management theory to practice, using a range of relevant sources.







The paper makes a credible attempt at applying relevant leadership theories and practices. An attempt is made to apply critical thinking using a range of critical sources







The paper fails to make a credible attempt at applying relevant theories.


No real critical thought demonstrated.



Research and professional communication (5)


(Note: A minimum of 10 credible sources are required)



The paper demonstrates excellent research and professional communication.


All sources are referenced fully and correctly using the APA6 referencing system.



The paper demonstrates a high quality of research and professional communication.


All sources are referenced fully and correctly using the APA6 referencing system.



The paper demonstrates sound research and professional communication.


All sources are referenced using the APA6 referencing system.



The paper demonstrates satisfactory research and professional communication.


A credible attempt is made to reference at least 10 sources using the APA6 referencing system.



Inadequate research (less than 10 credible sources) has been used.


Referencing does not follow the APA6 format



Presentation


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Essay format.


The word count does not include your reference list


Requirements


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APA (6th Edition) Referencing must be used, including in-text citations and complete and correctly formatted reference list. More information can be found here



http://student.csu.edu.au/library/integrity/referencing-at-csu


This assignment must be submitted through Turnitin.


It is recommended thatyour name,student IDandpage numberare included in theheader or footerof every page of the assignment.


Further details about submission through Turnitin will be provided via Interact2.


Additional information to assist you with your assignment can be found herehttp://student.csu.edu.au/study/skills/guidesandtips/writing-at-uni

Answered Same DaySep 25, 2021MGT536Charles Sturt University

Answer To: Essay: Leadership Success Value: 30% Due Date: 27-Sep-2019 Return Date: 22-Oct-2019 Length: 2500...

Abhishek answered on Sep 27 2021
151 Votes
Running Head: ESSAY: LEADERSHIP SUCCESS    1
ESSAY: LEADERSHIP SUCCESS         11
ESSAY: LEADERSHIP SUCCESS
Table of Contents
1. Possible Ways of Evaluating Success of CEOs Presently    3
2. Challenges of Focusing on only Financial Metrics for the Long-Term Success of Organisations    6
3. Challenges faced by Leaders in Balancing Financial and ESG Performance Metrics as well as Ways of Addressing these Challenges    8
References    11
1. Possible Ways of Evaluating Success of CEOs Presently
The success of a firm i
n the industry does not only mean that the firm is generating a huge amount of revenue, but nowadays the rankings of firms are made from the evaluation made through the ESG matrix. There are various ways a CEO can be evaluated, in today’s world. CEO evaluation and feedback for any firm are important but a work shrouded with hassles, as anyone within his/her firm will generally give an affirmative answer to this question. That is why the members of the board, whose primary function is to oversee the operations and to give a proper feedback process.
There is also a downside to this, due to the simple fact that some boards become biased and sometimes a proper evaluation of the CEO, will not be done or in some other cases a consensus isn’t met between the board members and other stakeholders, on what the job role of the CEO will be and sometimes firms opt for a more diversified board, and that means that sometimes members of the boards lack the CEO experience themselves. Therefore, there is a huge problem in not having the knowhow, on how to evaluate a CEO (Friedman & Gerstein, 2016).
For this reason, some firms follow a method based on the scorecard method. This method is efficient because, then every board member is asked to give a grade to the key elements of a CEO’s job role, and also the CEO is asked for self-evaluation on all the areas of his job roles. Then the review report is made based on all the above-collected data this evaluation practice is done by the Walmart CEO, Douglas McMillon, who came in the first position in CEOWORLD magazine global standings as the best CEO across all the industries being evaluated.
The things that are of utmost importance for the evaluation of the CEO are the following:
Having a vision
This section pertains to the total corporate strategy, which means that the CEO has given a specific signal or has set a specific vision for all the associated stakeholders both insiders and outsiders. This unique strategy uses the strengths of the firm to achieve goals and gain a competitive advantage. All stakeholders should know what is expected of them. The provision of proper human resources, the allocation of proper talents that can rival the competition, in terms of quality and quantity of work should be known.
Otherwise, the company is certainly in a disadvantageous position in the industry. As suggested by Pferdehirt, Russell and Nelson (2016), every member of a firm is important, but the special emphasis should be given to the executive team and they should be briefed on proper planning and their execution. In the area of HR, the board should ask themselves, what are the right people being recruited by the CEO and are their potential being utilized to the fullest.
Culture building
This is simply the creation of high performance of the individuals by giving them timely pay and incentives for their work. The job of the CEO here is to motivate the workers to get high performance. There many CEO who gives the workers ample time to develop this work culture, while some others just create it organically, to develop people's attitude and work skills in proper alignment with the company.
The CEO should be the driving force for the firm and the employee and has to set standards; CEO also has to perform course corrections if any process or employ has strayed off course. In addition, the CEO needs to determine whether the values that are embodied in the company are followed to the fullest by their employees if not what can be done to assure that the firm’s employee will follow the core values of the firm while giving their fullest to the firm.
Taking decisions
The fact of the matter is that decisions are the source of energy for any firm or organization that wants to run well. The pace and the quality of the decisions are the deciding factors of the level of productivity of the firm. The CEO is therefore also responsible for making management decisions. Creating a firm that can give a consistent and timely delivers up to expectation, is the very hard thing the CEO has to do. If the firm runs like a well-organized machine then the CEO is doing it right.
For that, certain things are needed to happen, which are not made and got to send to the top, these two are the prerequisite factors as per many CEO and boards. The ultimate factor is the delivery of the performance: At the last stage, the CEOs are human beings and will ultimately see what the output is, as the CEO is responsible for the delivery of performance of the other employees. Moreover,...
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