7-BSP-1355 Leadership and Management in International Business Assignment Sample
7-BSP-1355 Leadership and Management in International Business Assignment Sample
Introduction
The report will be focussing on the attributes and strengths of management, focusing on the competency of leaders and trying to find out the various leadership styles that will be suitable to mitigate the problems of Intra-NOW-World, a core cryptocurrency mining organisation. There is a lack in the confidence levels of the various investors at Intra-NOW-World which is the result of having poor insight about the future and Fintech services, which will be appropriately analysed and developed within the report, giving a strong analysis of the subject matter.
Part 1: Report on leadership candidate profile identification and justification for Intra-NOW-World
1. Selecting the most favourable candidate for leading at Intra-NOW-World and explaining the reason for such selection
Selection of the potential leader for Intra-NOW-World
The selection criteria of the potential Chief Executive Officer at Intra-NOW-World has been based on the current crisis that the company has been facing and various other challenges such as a lack of investor’s willingness to invest and the sporadic investor made the decision challenging. However, on careful selection, it has been found that Jonathan Buso as the current leader of Intra-NOW-World will be perfect and quite appropriate to work considering the profile, which matches most requirements of the job.
Intra-NOW-World has been operating for a long time in South Africa, and it has been perceived considering the historical development of African organisations that there is a lack in the private sector flourishing and gaps in institutional development has been existing for a long time (Boso et al., 2019).
Jonathan Buso as had been found from the given profile does have a better amount of cultural intelligence and a high openness degree, with high emotional stability, making Jonathan Buso the most ideal candidate for the business to say perfectly (Refer to Appendix 1). Jonathan has a high cultural intelligence being more open to changes and ready to explore different forms of innovation, which had been referred from the paper on cultural intelligence being high to create a positive impact on business over time (Ott and Michailova, 2018).
It had been found that Jonathan has higher openness making the person suitable to allow for renovations to occur at Intra-NOW-World, as the company had been facing internal competition in the form of managers being taken away by better competitive rivals and slower progress. The high commitment and risk-taking behaviour of Jonathan Buso makes the person a suitable choice for the firm and creates better agility where adaptation and adjustment to different techniques have amended the character of Jonathan Buso, which impacts the quality of working discreetly (Hafat and Ali, 2022).
Leadership style assessed for the selected potential leader by strengths and weaknesses.
The leadership style as has been assessed for Jonathan will correlate much with the leadership style of being a situational leader, as the primary characteristics of being flexible to changes, having a strong adaptable nature and changing according to the imposing situations. The relationship between the strong code of ethics in terms of work commitment and innovation is found to be positive by research papers, which have been further generalized in the case profiling of Jonathan Buso (Asif et al., 2019). Having situational leadership, Jonathan Buso may have the direct command over being a man of considerable power in terms of flexibility towards various challenges and having the values of communicating, improving on personality and creating better work motives (Zaccaro et al., 2018).
Jonathan Buso has a great knowledge of Fintech and may be suitable to leverage the firm’s capacity to integrate various Business to Business relationships by including Fintech management innovation. Situational leadership had been studied by different articles in the last century to say, following the aspects of language, ideation process, ethics and business sustainability which had improved the leadership study (Edwards and Schedlitzki,2021).
The strengths of Jonathan Buso have indicated that apart from knowing much about Intra-NOW-World is that the person knows deep analysis of the company and has a strong capacity to understand the commercial advantage that will be gained after a few specific changes are being made to the organisation (Refer to Appendix 1).
External factors studying the leadership chosen.
The external factors that contextualise have been referred to according to the deficiencies that Jonathan Buso has, following the positive as well as the negative factors all over, including the success as well as the weakness of the person. Mostly, the external factors may be listed as the withdrawal of the investors and the managers slowly migrating to other companies from Intra-NOW-World, which shows that there is a lacking in the competence of the financial advisors and there is prior business framework implementation which has made an acute loss in the sales of the company. The sales worker and the managers of wish to resign had been analysed by a range of thesis and research insights, which has shown the fact that motivation if lacking, following the theory of motivation as had been stated by Herzberg will let employees take off and resign from Intra-NOW-World (Tortrakul, 2022).
Future possible developments that the selected leader may make to Intra-NOW-World
In the words of Jonathan Buso, the leadership of manifesting the desired result through commitment and working utmost diligently to achieve the results had been a distinct characteristic of situational leadership, which will create a pathway for future development. The planning structure of Jonathan Buso had been to appoint a Chief Operating Officer to manage the administrative activities of the company and try out performing the needed work according to the situation, starting with showing positive prospects to the investors and working to regain flexibility in operations. Onboarding of various skills in the future has been quite a future development scope for Jonathan Buso as that will improve on the human resources talent management and will be increasing the actual capacity of the company thereon. The building of profit seemed to be a strong challenge for Intra-WORLD-Now, and integrating a strategic alliance with any of the start-ups right now is the safest possible global opportunity that the company may have been being explored by Jonathan Buso. There are other future development prospects such as Fintech integration, as many of the firms that have made a strong change in the Fintech opportunity have been creating a self-developed possibility for a large number of firms, which had been researching a large range of papers (Alaassar et al., 2022).
2. Development areas analysis of the selected leader
Explanation of the development areas justifying being a hindrance to the success of Intra-NOW-World
There are a few areas on which the concerned leader needs to work upon, and all these areas have been directly addressed concerning the weakness that Jonathan Buso has shown, such as the area of not being much extraverted and having communication problems with the team members. It needs to be noted that the communication problem needs specific management and needs future better improvisation as circulatory communication through a two-way channel is compulsory to stand on with. The direct impact that communication creates in several businesses involves the channels of communication that are being adapted on and the parameters that communication often gets on, to hence employee performance and build a core capability of employee leadership (Kalogiannidis, 2020). Jonathan Buso as the team manager and leader in the future needs to effectively improve on the states of inclusivity and employee development, having the core capacity to do so by following any specialised framework of communication. In organisations, communication measures a significant part of letting the employees interact and reduce anxiety by communicating with the different employees, which has been effectively inquired by various research studies, to find out how communication often acts to reduce the stress of individuals (Chen, 2019).
Impact of culture and diversity directly on the operation way of leadership strategies
Various cultural as well as diversified forms of operations have led people to form strong unions and in turn be strong leaders, effectively utilising communication and being proactive employees. Workplace diversity is required to keep the balance of employee development and a thorough employee engagement thereon, where employees feel engaged to put in their opinions, get better recognition and receive a competitive opportunity to adapt to situations amidst thousands of problems. It has been observed that the teams that include culturally diversified people from several positions, do have a high and tenacious response rate, which in turn explores the homogeneity of teams that may work together and have a strong adhesive power to gear up for better efficiency and working dictum (Hult.edu. 2023). The future CEO needs to include Hofstede’s Cultural Theory and cross-cultural management framework to have a brief idea about the cultural impact that may be cast on the operational management of Intra-NOW-World. According to the research topic, the framework of Hofstede’s Cultural theory fits the topic appropriately because it had been based on the cultural differences of 60 nations and finding a correlation with cross-cultural psychology thereon (Beugelsdijk and Welzel, 2018).
Cultural issues that may occur due to the selection of the potential leader at Intra-NOW-World
There are implications that if Jonathan Buso is selected as the CEO of the organisation, different kinds of cultural challenges may occur and the company may be in actual trouble because of that. These cultural problems arise from the negative characteristics of Jonathan Buso, such as being socially separate and not have much connection with the employees, which is critical for team collaboration and company work will be disrupted. Cultural challenges such as diversified employees feeling demotivated to work under Jonathan Buso may appear as the CEO often tests the boundaries of employees and does not have a certain ethical side, such as experimenting with the limits and acting impulsively a few times. For being culturally active, one needs to have better cultural integrity and high extraversion, which Jonathan Buso lacks and thus may be identified as the personality that sometimes becomes less interactive, discouraging cultural integrity.
Being culturally affluent comes from the fact that socially connecting and being available for any employees to promote inclusiveness increases cultural integrity, which Jonathan Buso does not hold and does not hence may carry out shortly. Also, the cultural challenge of not allowing any kind of investor that may examine the work of Jonathan Buso is an off-turning thing for most of the organisation, which is why investors having a different cultural background may never approach the CEO of Intra-NOW-World thus. Another significant cultural limitation that Jonathan Buso suffers from is hiding their real personality and bearing a different personality to the working field, which often creates the problem of making employees feel that they do not cooperate well.
Recommended development plan
| Challenges of Jonathan Buso | Actions to mitigate | Resources | Time taken |
| 1. Communication gap and being socially distanced | Participate in employee events and host monthly webinars to know all the team members well and have a bond outside the corporate world | Human resource | 6 months |
| 2. Critical of employee performance and harsh behaviour | Amend through practising empathy and analysing each employee’s limitations by creating a database knowing from previous commercial accomplishments of the employees | Human Resources | 4 months |
| 3. Avoiding investor analysis and monitoring | Being more self-confident by taking on international projects and using a competent team to allow stakeholder monitoring | Human Resources | 8 months |
| 4. High expectations from employees lead to unrealistic failures | Need to re-assess the feasibility of the projects and employees more and take a self-awareness course | Financial resources | 6 months |
Table 1: Challenges identified by the Development Plan (Source: Self-created)
Part 2: Leadership profile and personal action plan
In this section of the report, a leadership profile will be developed which will work as a significant guide to how I would prefer to develop my leadership skills after I complete my graduation. On a broader note, I will be taking into account 6 months of development in which I plan on adopting certain strategies that will enable me to ensure that I am capable of becoming a significantly effective leader in my professional career.
Professional development plan
| Months | Plan | Notes/comments |
| Month 1 | Improving communication skills | I will use the first after my graduation to learn effective communication skills since I feel that every leader is required to have effective communication skills. It enables them to communicate effectively with the employees and clearly state what they are required to do at the workplace and such a transparent communication approach further helps in building a significantly positive relationship between the leaders and employees. Research has also mentioned that communication skills are one of the most crucial attributes for leaders to have in the contemporary age as it helps in creating a significantly positive work environment too (Johnson and Hackman, 2018). I would prefer to improve my communication skills by trying to voluntarily be part of more collaborative projects since that would urge me to effectively communicate with others to achieve a shared goal |
| Month 2 | Problem-solving skills | It is another skill that I lack at the present moment and therefore, I would prefer to enhance the given attribute to a great extent after the completion of my graduation. However, I plan on learning this skill in the 2nd month. Research has mentioned that problem-solving skills acquired by leaders are one of the main determinants of having a successful business as these individuals tend to have extremely innovative prospects in mind when faced with a challenge and they are also capable of deriving the most efficient outcome from it through their problem-solving skills (Iordanoglou, 2018). Although I want to mention that I have not decided on any specific measure that might take to learn this skill, I also want to mention that it is one of the attributes that I want to keep learning even after 6 months. One of the most relevant measures that I have decided to undertake to be better at problem-solving is looking at the example of other leader’s biography and documentaries to derive how those individuals act while faced with a problem and how they successfully come out of it |
| Month 3 | Improving emotional intelligence | It is also one of the most crucial attributes that I would prefer to learn as having adequate emotional intelligence is one of the most vital and imperative attributes leaders are required to have. It has been demonstrated by research that people having more emotional intelligence than others are effectively capable of comprehending what others might be feeling and that leads them to become better leaders (Issah, 2018). In that context, I want to mention that by adhering to the theoretical principle of Golemanan’s emotional intelligence model that an individual is required to have 5 attributes, such as self-regulation, empathy, social skills, motivation and self-awareness (Fianko et al., 2020). I feel that by having each of these skills, I will become an extremely efficient leader who will have empathetic feelings toward the employees and also be in control of personal emotion |
| Month 4 | Enhancing time-management skills | I have noticed that my time management skills are not quite sufficient and it has prevented me from completing several tasks within a deadline during my graduation. However, I feel that if I want to become a successful leader, then I must be better at managing time since leaders tend to have several responsibilities and deadlines to finish certain tasks and the failure to do that will reflect negatively upon the individual’s leadership attributes. Research has also mentioned that time-management skills are one of the fundamental attributes that contemporary leaders are required to have since it allows them to lead a team to also finish specific projects within time and that subsequently helps the organisation to keep their customers satisfied (Moneva and Pedrano, 2019). I might achieve that goal by watching videos about the same subject on YouTube or by reading relevant books to acquire some tips |
| Month 5 | Improving digital literacy | This month, I would prefer to hone my skills in digital literacy since I have realised that I am not quite efficient when it comes to handling technology and, especially performing certain duties such as creating spreadsheets and presentations on computers. Therefore, I feel that I need to develop these skills as leaders in the current age are required to have a substantial amount of knowledge about the same to conduct every given task profoundly. It has also been mentioned by research that leaders are required to update their skills according to the evolving needs of the market, especially their technological skills in the era of Industry 4.0 to successfully become digital leaders (Oberer and Erkollar, 2018) |
| Month 6 | Negotiation skills | In the last month, I would prefer to focus on learning effective negotiation skills. I have realised that leaders are also required to be efficient negotiators so that the individuals are capable of negotiating favourable terms when it comes to deriving the best result out of a situation. It often happens that leaders have to negotiate a deal with clients for the benefit of the organisation and in that essence, individuals who are known to have the best negotiation skills will be capable of obtaining the best result it. The findings of a study have also discovered that it is one of the most distinguished skills for leaders to learn as it becomes crucial for leaders to establish agreements for the common good of everyone in the given organisation (Guzmán et al., 2020) |
Table 1: Personal action plan (Source: Self-Created)
Conclusion
Finally, it may be concluded that I have created an efficient action plan through which I will try to record my development plan in the form of a reflection journal to ensure that I am abiding by an adequate framework to start my progress toward becoming a leader after the completion of my graduation.
References
Alaassar, A., Mention, A.L. and Aas, T.H., 2022. Facilitating innovation in FinTech: a review and research agenda. Review of Managerial Science, pp.1-34.
Asif, M., Qing, M., Hwang, J. and Shi, H., 2019. Ethical leadership, affective commitment, work engagement, and creativity: Testing a multiple mediation approach. Sustainability, 11(16), p.4489.
Beugelsdijk, S. and Welzel, C., 2018. Dimensions and dynamics of national culture: Synthesizing Hofstede with Inglehart. Journal of cross-cultural psychology, 49(10), pp.1469-1505.
Boso, N., Adeleye, I., Ibeh, K. and Chizema, A., 2019. The internationalization of African firms: Opportunities, challenges, and risks. Thunderbird International Business Review, 61(1), pp.5-12.
Chen, Y., 2019. How does communication anxiety influence well-being? Examining the mediating roles of preference for online social interaction (POSI) and loneliness. International Journal of Communication, 13, p.19.
Edwards, G. and Schedlitzki, D., 2021. Studying leadership: Traditional and critical approaches. Studying Leadership, pp.1-100.
Fianko, S.K., Jnr, S.A.J.S.A. and Dzogbewu, T.C., 2020. Does the interpersonal dimension of Goleman’s emotional intelligence model predict effective leadership?. African Journal of Business and Economic Research, 15(4), p.221.
Guzmán, V.E., Muschard, B., Gerolamo, M., Kohl, H. and Rozenfeld, H., 2020. Characteristics and Skills of Leadership in the Context of Industry 4.0. Procedia Manufacturing, 43, pp.543-550.
Hafat, S.E.D. and Ali, H., 2022. Literature Review Determination Of Work Quality And Work Productivity: Analysis Of Commitment And Work Culture. Dinasti International Journal of Management Science, 3(5), pp.877-887.
Hult.edu. 2023. 13 benefits and challenges of cultural diversity in the Workplace, Hult International Business School. Available at: https://www.hult.edu/blog/benefits-challenges-cultural-diversity-workplace/#:~:text=Diversity%2C%20including%20diversity%20of%20gender,valued%20for%20their%20unique%20contribution. (Accessed: March 11, 2023).
Iordanoglou, D., 2018. Future trends in leadership development practices and the crucial leadership skills. Journal of Leadership, Accountability & Ethics, 15(2).
Issah, M., 2018. Change leadership: The role of emotional intelligence. Sage Open, 8(3), p.2158244018800910.
Johnson, C.E. and Hackman, M.Z., 2018. Leadership: A communication perspective. Waveland Press.
Kalogiannidis, S., 2020. Impact of effective business communication on employee performance. European Journal of Business and Management Research, 5(6).
Moneva, J.C. and Pedrano, J.P.M., 2019. Democratic Leadership and Attitude towards Time Management of the Student Leaders. International Journal of Learning and Development, 10(1), p.159.
Oberer, B. and Erkollar, A., 2018. Leadership 4.0: Digital leaders in the age of industry 4.0. International journal of organizational leadership.
Ott, D.L. and Michailova, S., 2018. Cultural intelligence: A review and new research avenues. International Journal of Management Reviews, 20(1), pp.99-119.
Tortrakul, B., 2022. An exploratory study of why sales staff decides to stay or resign their compan (Doctoral dissertation, Mahidol University).
Zaccaro, S.J., Green, J.P., Dubrow, S. and Kolze, M., 2018. Leader individual differences, situational parameters, and leadership outcomes: A comprehensive review and integration. The Leadership Quarterly, 29(1), pp.2-43.
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