Business Studies

Please read the following Harvard Business Review article (ATTACHED) and answer the following questions in great detail:

1. Detailed – Comprehensive Summary for this reading.

2. Which are the three most CRITICAL ISSUES for this reading? Please explain why? and analyze, and discuss in great detail …

3. Which are the three most relevant LESSONS LEARNED for this reading? Please explain why? and analyze, and discuss in great detail …

4. Which are the three most important BEST PRACTICES for this reading? Please explain why? and analyze, and discuss in great detail …

For EACH CRITICAL ISSUES, LESSON LEARNED, BEST PRACTICE post at least two strong comprehensive paragraphs

ANSWER

Level 5 Leadership

Companies and organizations always strive to better their performance and achieve their targets. To accomplish this, it must start with the efforts of the leaders in these companies and organizations (Caldwell et.al 2017). These leaders should always provide guidelines to the rest of the workers in the companies and the officials involved in the management. These guidelines should be a clue to the company’s success and better performance. The leaders should also be role models to the other workers in the company (Caldwell et.al 2017). Good leaders will always lead to the success of the company and will always make the company improve on its output. Bad leaders will always ruin the performance of the company and make the company or organization lower the output (Caldwell et.al 2017). Ruined performance in an organization will result in a company making losses. Leadership in a company should be a level 5 leadership. This paper will discuss level 5 leadership in companies and how their performance.

Most companies have shifted from good performance to great performance by having level 5 leaders. The types of leaders ensure great performance in the company and maximize the outputs (Caldwell et.al 2017).  Level 5 leaders also display tremendous professional will. George Cain is one of the typical leaders who displayed a level 5 type of leadership. He was the Chief Executive Commissioner of Abbott Laboratories. He was very intolerant of people who performed averagely or performed poorly. He made sure that all workers in the company worked to the company’s expectations (Caldwell et.al 2017). Darwin E. Smith is also a famous typical level 5 leader. He was the chief executive of Kimberly-Clark, a paper company. He showed high skills of level 5 leadership by ensuring that all officials in the management of the company are working to produce the expected output.

The company’s success also requires the right people on the bus and the wrong people off the bus.  The right people will ensure that the business aligns in the rightful direction and produces the best output (Caldwell et.al 2017). They always correct the leaders when they make mistakes and congratulate them when they make rightful decisions. These people also preserve and protect the resources owned by the company. Wrong people in a company will always mislead the others in a company even the leaders (Caldwell et.al 2017). These people make the company underperform and always make losses. Many companies fail to improve their performance due to the involvement of wrong people in the management or other activities in a company.

For a company to succeed there must also be a culture of discipline. A culture of discipline will also contribute to ensuring that workers in a company are following the right guidelines (Caldwell et.al 2017). A company should have a disciplinary committee that corrects those workers who fail to follow the company’s protocols or guidelines. Those who break the company’s rules are also disciplined by this disciplinary committee. A company that has no disciplinary committee will always make mistakes and there will be no people to correct them and guide them on how to shift their performance from good to great.

The best practices learned in this reading are guidelines on the best leadership in businesses (Caldwell et.al 2017). Businesses need to have leaders who can make rightful decisions that favor the performance of a business and increase profits. These leaders should also have the best methods of reducing marginal costs and improving marginal returns (Caldwell et.al 2017). This will make sure that the company does not experience diminishing marginal returns. Diminishing marginal returns always leads to losses in a company or constant outputs that have neither losses nor profits (Caldwell et.al 2017). As a result, workers and leaders in a company or organization should always make sure that they lower the cost of production and increase the outputs so that a business can run smoothly without making losses.

Another practice learned in this reading is that of having the will to always perform well in business activities. It, therefore, requires the leaders in an organization to motivate the other workers in an organization the importance of performing to the expectations of the company (Caldwell et.al 2017). This will make the workers have a sense of belonging and feel as if they are working for their benefit. This will make the business raise its standards and also favor the shifting of performance from good to great (Caldwell et.al 2017). A company with workers who have no morale always performs averagely because the workers do not have defined targets and determinations.

Another lesson learned from the reading is eliminating the wrong people from business operations. People who always make mistakes in the business even after they are corrected and counseled many times should be excluded (Caldwell et.al 2017). These people might end up causing big risks in the businesses and prevent the company or organization from achieving their targets (Caldwell et.al 2017). This will bring down the whole business leading to huge losses. This will also interrupt the business operations because the company will hire new workers who will require new training. The training of the new workers will lead to extra costs in a business.

In conclusion, for a company or organization to better its performance from good to great it needs to choose its leaders wisely. Leaders and not only leaders but level 5 leaders are the key determinants of how the company or organization will perform. These leaders should be good role models to the other workers in the company and they should also motivate them.

References

Caldwell, C., Ichiho, R., & Anderson, V. (2017). Understanding level 5 leaders: the ethical perspectives of leadership humility. Journal of Management Development. https://www.emerald.com/insight/content/doi/10.1108/JMD-09-2016-0184/full/html?casa_token=Iq03rgJbx28AAAAA:wa6Zro7NE9ogQe-TrglBoFSkTJqE6jY6os4dxSNVgjy42J5LSYhJW-xENH_zFCZC0VMAEo4bVj3v3xpIWg7g-5eLfhsrlwojL1kyI4k1YgWR4jaHcwtB

Collins, J. (2006). Level 5 leadership: The triumph of humility and fierce resolve. Managing Innovation and Change, 234. https://books.google.co.ke/books?hl=en&lr=&id=SDNJzAjyocQC&oi=fnd&pg=PA234&dq=Level+5+Leadership,+The+Triumph+of+Humility+and+Fierce+Resolve&ots=VfTWIDDmHP&sig=pdpDdG9Cs1zjFV3KV0MmbbrJaJc&redir_esc=y#v=onepage&q=Level%205%20Leadership%2C%20The%20Triumph%20of%20Humility%20and%20Fierce%20Resolve&f=false