BUSINESS ETHICS AND LEADERSHIP

Business Ethics and Leadership

Business Ethics and Leadership

Answer 1

Primary Leadership Theories

There are four primary types of leadership theories.

1. Trait theory

The trait theory is the idea that leaders are characterized by certain traits which are present at birth. Early researchers believed that by studying the personality and intelligence of such leaders, they could create the combination of traits that makes a great leader. Early research was inconclusive, but it did reveal the traits that make a person an extraordinary leader (McGuire, 2000, 45-59).

2. Fiedler's Contingency Theory

According to Fiedler's Contingency Theory, there are three situational factors that contribute to determine if the leader is a least preferred co-worker. High LPC means the leader is people oriented, while Low LPC means the leader is more task oriented. The situational factors are position power, task structure, and leader-member relations. The usefulness of this theory remains in dispute even today.

3. Leader-Member Exchange Theory

Leader-member exchange is another type of primary leadership theory. This is the theory that deals with the way leaders treat subordinates. Most people have noticed that all subordinates are not treated equally. The theory states that leaders tend to divide their subordinates into an "in" group and an "out" group. Some of the characteristics of what determines which group you fall into are similarities in gender, age, or attitudes. The quality of the leader-member exchange or relationship was based on two things: similarity of the leader and follower extroversion (McGuire, 2000, 45-59).

4. Path-Goal Leadership Theory

This is the leadership theory that applies best to Blessed Entertainment. It is based on the expectation theory of motivation. That theory states that whether a person is motivated depends on two things: whether a person believes he can accomplish the task and his desire to do so. Keeping with this theory, leaders should increase ...