Global Best Practices in Management and Leadership

Transcription

1 Global Best Practices in Management and Leadership ICPAK SEMINAR Sarova Whitesands Mombasa 2018 by Prof. David Wangombe PhD, MBA, BA, CPA(K) Professor of Accounting Strathmore University Business School

2 Agenda Leadership vs management The Leadership Challenge Practices of Exemplary Leadership Attributes of a Leader

3 r Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.

4 If your actions inspire others to dream more, learn more, do more and become more, you are a leader John Quincy Adams

5 Unbelievable? A very successful CEO wanted an employment contract - 3 years after taking the job. There was an unusual provision in the contract - that conviction of a felony was not grounds for termination. The board approved the contract. The CEO was Dennis Kozlowski, the company was Tyco 5 5

6 Unbelievable? The board of a top company listened to a presentation from management to create a special purpose entity to move debt off the balance sheet. The deal was a violation of the company s own conflict of interest rules because it permitted an insider to be on both sides of the transaction. The board waived the rules and permitted the transaction. The company was Enron 6 6

7 Unbelievable? A CEO asked his board for a loan of US$ 400 million, for private business purposes. The WorldCom board agreed 7

8 Questions Great Companies have Fallen. Enron, Tyco, WorldCom and so on. Why? Were the leaders Asleep? Conflict of Interest? Criminals? Lazy and Irresponsible? Bad Leadership Practice?

9 When decisions are made Value is created or destroyed at the point where decisions are made Great Leaders are about great decisions 9

10 It s about Leadership! Leadership for efficiency to compete in the global economy, better Life Leadership for probity (honradez, rectitud).. because follower require confidence to provide assurance of management's integrity Leadership with responsibility. to take account of broader stakeholder interests Leadership that is accountable and transparent to build trust in organisations and in the society!! 10

11 What is leadership? Leadership is a transactional process. A leader affects and is affected by followers Leadership is transitional. Within a team leadership moves around the team dependent on the stage of the process Leadership involves influence in a group with a common purpose. Without influence, leadership does not exist Leadership involves attaining goals and directing a group of individuals to achieve Leadership is multi-factorial and distinct from management

12 Management and Leadership The manager has his/her eyes on the bottom line. The leader has his/her eyes on the horizon. The manager imitates. The leader originates.

13 Management and Leadership The manager is the classic good soldier. The leader is his/her own person. The manager does things right. The leader does the right thing. The manager asks how and when. The leader asks what and why.

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16 The leadership Challenges 1. Developing managerial effectiveness Developing the relevant skills such as time-management, prioritization, strategic thinking, decision-making, and getting up to speed with the job to be more effective at work. 2. Inspiring others Inspiring or motivating others to ensure they re satisfied with their jobs and working smarter. 3. Developing employees Developing others, including mentoring and coaching.

17 4. Leading a team The leadership Challenges Contd Team development, and team management. Specific challenges include how to instil pride, how to provide support, how to lead a big team, and what to do when taking over a new team. 5. Guiding change Managing, mobilizing, understanding, and leading change. Guiding change includes knowing how to mitigate consequences, overcome resistance to change, and deal with employees reactions to change. 6. Managing internal stakeholders Managing relationships, politics, and image. This challenge includes gaining managerial support, managing up, and getting buy-in from other departments, groups, or individuals

18 More Challenges: Leadership Challenges of Globalization Dramatically increased flows and mobility of international talent in the marketplace New configurations of teams never experienced before (multicultural; matrixed; virtual) Rapid changes in organizational vision, values and policies Push to address, define, and promote global sense of organizational culture

19 Five Practices of Exemplary Leadership Model the way Inspire a shared vision Challenge the process Enable others to act Encourage the heart Kouzes, J & Posner B. 2002

20 The Leadership Challenge states that: Observable behaviors + Practice + Feedback from followers + Desire and persistence to succeed = Effective Leader

21 The Five Practices and The Ten Commitments of Exemplary Leadership in Reverse Order (Adapted from Kouzes and Posner, 2012, pg. 29) PRACTICE 5: ENCOURAGE THE HEART COMMITMENT #10: Celebrate the values and victories by creating a spirit of community. COMMITMENT #9: Recognize contributions by showing appreciation for individual excellence. PRACTICE 4: ENABLE OTHERS TO ACT PRACTICE 3: CHALLENGE THE PROCESS PRACTICE 2: INSPIRE A SHARED VISION COMMITMENT #8: Strengthen others by increasing self-determination and developing competence. COMMITMENT #7: Foster collaboration by building trust and facilitating relationships COMMITMENT #6: Experiment and take risks by constantly generating small wins and learning from experience. COMMITMENT #5: Search for opportunities by seizing the initiative and looking outward for innovative ways to improve COMMITMENT #4: Enlist others in a common vision by appealing to shared aspirations. COMMITMENT #3: Envision the future by imagining exciting ennobling possibilities PRACTICE 1: MODEL THE WAY COMMITMENT #2: Set the example by aligning actions with shared values. COMMITMENT #1: Clarify values by finding your voice and affirming shared values.

22 PRACTICE 5: ENCOURAGE THE HEART 10. Create a spirit of community 9. Show appreciation for individual excellence

23 PRACTICE 4: ENABLE OTHERS TO ACT 8. Increase self-determination and develop competence 7. Build trust and facilitate relationships

24 PRACTICE 3: CHALLENGE THE PROCESS 6. Generate small wins and learn from experience 5. Seize the initiative and look outward for innovative ways to improve

25 PRACTICE 2: INSPIRE A SHARED VISION 4. Enlist in common vision by appealing to shared aspirations 3. Imagine exciting ennobling possibilities Leaders cannot command commitment, only inspire it

26 PRACTICE 1: MODEL THE WAY 2. Align actions with shared values 1. Find your voice and affirm shared values People follow the person first, then the plan

27 Time Legacy Let your offspring water the river of life Time

28 Attributes of a Leader Guiding vision: Effective leaders know what they want to do, and have the strength of character to pursue their objectives in the face of opposition and in spite of failures. The effective leader establishes achievable goals.

29 Attributes of a Leader Passion: Effective leaders believe passionately in their goals. They have a positive outlook on who they are, and they love what they do. Their passion for life is a guiding star for others to follow, because they radiate promise!

30 Attributes of a Leader Integrity: Because they know who they are, effective leaders are also aware of their weaknesses. They only make promises they can follow through on. Honesty: Leaders convey an aura of honesty in both their professional and their personal lives. Trust: Effective leaders earn the trust of their followers and act on behalf of their followers.

31 Attributes of a Leader Curiosity: Leaders are learners. They wonder about every aspect of their charge. They find out what they need to know in order to pursue their goals. Risk: Effective leaders take calculated risks when necessary to achieve their objectives. If a mistake is made, the effective leader will learn from the mistake and use it as an opportunity to explore other avenues.

32 Attributes of a Leader Dedication: The effective leader is dedicated to his or her charge, and will work assiduously on behalf of those following. The leader gives himself or herself entirely to the task when it is necessary.

33 Attributes of a Leader Charisma: This may be the one attribute that is the most difficult to cultivate. It conveys maturity, respect for your followers, compassion, a fine sense of humor, and a love of humanity. The result is that leaders have the capability to motivate people to excel. Listening: Leaders Listen! This is the most important attribute of all, listen to your followers.

34 Who is a Successful Leader? Alexander the Great

35 Who is a Successful Leader? Napoleon I A leader is a dealer in hope.

36 Who is a Successful Leader? John F. Kennedy Leadership and learning are indispensable to each other.

37 Who is a Successful Leader? M. Ghandi: we must be the change we wish to see in the world. W. Churchill: The price of greatness is responsibility. Martin Luther King, Jr.: A genuine leader is not a searcher for consensus, but a molder of consensus.

38 Who is a Successful Leader? Are you? Do I get results? Do I provide direction and a sense of meaning to others by reminding them of what s important? Do I create authentic human relationships? Do I generate and sustain trust?

39 Who is a Successful Leader? Are you? Do I give people a sense that they are investing in the future? Do I convey a feeling of hope? Do I motivate others?

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42 Contact Prof. David Wangombe PhD, CPA(K) Professor of Accounting Strathmore University Business School Cell: