ConceptsNest

  ***Continued from Chapter 01 (Covered previously: Components of Authentic leadership, Characteristics Of Authentic Leaders, Significance of Authentic Leadership, Developing Authentic Leadership ) Click For Chapter 01 Transactional vs Authentic Leadership – The Difference Transactional leadership  is also called Managerial Leadership. It works in a structured system where authority and the chain of command are clearly demarcated. The philosophy works on the principle of transaction, i.e., give and take of reward and punishment. The leader uses the carrot and stick transactional leadership approach to get work done from subordinates. If we consider Maslow’s Hierarchy of Needs, Transactional Leaders can be said to address the lower-level needs of security and acceptance. Transactional leaders aim to fulfil their subordinates’ needs of security and social belonging that are at the bottom of this pyramid. The higher-level needs of esteem and self-actualization remain unaddressed

  Authenticity has been explored throughout history, from Greek philosophers to the work of Shakespeare (“To thy own self be true.” –Polonius,  Hamlet ). Authentic leadership has been explored sporadically as part of modern management science, but found its highest levels of acceptance since Bill George’s 2003 book,  Authentic Leadership . Authentic leaders put legitimacy, ethics and positive psychological capacities first. Authentic leadership emphasizes how a leader can gain legitimacy and build trust through developing honest relationship with followers. Authentic leadership is defined in the following way: This approach to leadership focuses on the ethical dimensions of the relationship between follower and leader and describes those behaviors that result in a trusting relationship . Authentic leaders have a positive outlook on life and are truthful and open in their interactions with others. They build trust with their subordinates and generate enthusiasm for project which e

  We may assume that humans buy products because of what they are, but the truth is that we often buy things because of where they are . For example, items on store shelves that are at eye level tend to be purchased more than items on less visible shelves. Here’s why this is important - Something has to go on the shelf at eye level. Something must be the default choice . Something must be the option with the most visibility and prominence. This is true not just in stores, but in nearly every area of our lives. There are default choices in our office, car, kitchen and in our living room. If we design for default in our life, rather than accepting whatever is handed to us, then it will be easier to live a better life. In the book Nudge, authors Richard Thaler and Cass Sunstein explain a variety of ways that our everyday decisions are shaped by the world around us . Designing for Default:- . . . Although most of us have the freedom to make a wide range of choices at any given moment,

  The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few"). Other names for this principle are the  80/20 rule , the  law of the vital few ,  or the  principle of factor sparsity . Management consultant Joseph Juran developed the concept in the context of quality control and improvement, naming it after Italian economist Vilfredo Pareto, who noted the 80/20 connection while at the University of Lausanne in 1896. In his first work, Cours d'économie politique, Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population. The Pareto principle is only tangentially related to Pareto efficiency. More generally, the Pareto Principle is the observation (not law) that most things in life are not distributed evenly . It can mean all of the following things: The Uneven Distribution What does it mean when we say that things aren’t distributed evenly? The key point is that each unit of wor

  ***Continued from Chapter 01 (Covered previously: What Is Big Picture Thinking, Importance Of Big Picture Thinking, Detail Oriented Or A Big Picture Thinker- The Difference) Link to Chapter 01 Identifying the Different Approaches - Approach Indicators No matter which field we belong to – an aspiring entrepreneur, someone who’s putting together a dream team, or polishing our leadership skills, big picture thinking can help open up, innovative and unexpected creative paths, ideas and solutions. Detail-Oriented Approach Indicators o    We prefer tweaking an existing plan than creating one from scratch o    We think over issues in such great detail that we sometimes miss the bigger picture o    We end up putting down or highlighting almost all notes o    We work towards high-quality work in most areas of our life and struggle with perfectionist tendencies o    We’re organized and/or like routine   Big Picture Approach Indicators o    We can easily spot patterns