Developing leadership and Global Recession Essay

Developing leadership and Global Recession - Essay Example However, countries which are wealthy were able to cope with recession to an extent. According to AusAID(2010)â€Å"Those  with stronger economies and more financial resources  were able to implement effective policy responses to support the economy and weathered the global recession relatively well†. In combating a worldwide threat like global recession, an organization needs to make visible changes in their leadership styles and business strategies. The issue of global recession demands a leader to change his attitude in conducting business in order to be flexible and realistic. Global recession is a serious issue and threatens the financial structure of a company and its profitability. As per Sawan(2008) â€Å"A recession normally takes place when consumers lose confidence in the growth of the economy and spend less† . In such a condition the objectives and aim of a business needs to be revised and reconsidered according to the demands of the situation. Implicatio n of Leadership on Global Recession a) Autocratic Leadership: This is a leadership style in which the whole decision making process of the business is vested with a single individual. Here the whole group members in an organization are monitored by the autocrat leader. In the event of global recession, the leaders should make effort to increase the confidence of share holders along with motivating staff to achieve maximum profit returns. An autocratic leader has more visionary skills and can implement strategies with less time and effort as consultation with other employees are not required. As an autonomous authority, he can analyze the prospects of the product market and make alternative choices to increase the demand for the product. As per Kiselev(2007)â€Å"An autocratic leader likes to make decisions himself. This leader relies on personal experience and input he has sought, not the voluntary contributions of others†. This kind of leadership is not viable with global re cession concept as co-operation and co – ordination wit all employees can solely achieve long term success for business. b) Democratic Leadership: A democratic leader is one who considers everyone’s opinion and solution on a specific problem before taking a decision. In this kind of leadership, the leader conducts meeting with group members and discuss the complexities of the business in the event of economical downturn. The conclusions are drawn considering the suggestion of all mangers and experts in the organization. During a recession period, most of the organization cut off employees in order to reduce cost, so a declarative leader must plan with organizational heads to retain experienced and skilled employees and disown employees who are less productive. According to Hansen(2011,pg.268)â€Å" Democratic style displays the leadership strength of the leader and usually generates respect from the team member c) Laissez –faire Leadership: In laissez – faire leadership, the decision making power is least vested with a particular individual. The decision making authority is distributed among various employees of the organization and they have strong hold on the business activity of an organization. In times of recession, it will be valuable if many employees have freedom to exercise their power to take action on relevant areas of an organization. In recession period, the organization has to take instant decisions to

Discuss Karl Marxs critique of capitalism Assignment

Discuss Karl Marxs critique of capitalism - Assignment Example Similarly, Thomas Hobbes’s renowned publication, the â€Å"Leviathan† claims that a valid government is that which unifies the collective will of the majority and unites them under the authority of sovereign power. Though all the three theories have some similarities, their areas of specialization are different. For instance, they all assert that there should be absolute governments though the theories highlight different specializations in regard to the stated governments. The concept of alienation and class inequality focuses more on the relationship between labor and human expression under capitalism. Under this concept, the workers are alienated from their labor since it no longer belongs to the workers but rather to the capitalists. The workers do as at the demands of capitalist rather than to satisfy their own needs. As far as class inequality is concerned, Marx argues there would be more and more members of society becoming proletarians if communism is not going to be practiced (Gergen 23). He further argues that because capitalist are continually accumulating capital, few capitalist exploiting a large number of poor proletarians who are subsisting on low wages will eventually characterize society. This would in turn encourage two social classes: the capitalist (rich) and the proletariat (poor). Communism can help solve the issue of class inequality and alienation the society faces today. Through communism, all goods and services are shared and as such, every need is met. Communism helps to eradicated poverty since no gets rich (Marx 16-40). At a personal level, class inequality and alienation is something that I undergo on my daily life. For instance, because I come from a middle class as the society stratifies, I cannot freely go into a five star hotel and bond freely with other citizens since I am considered not of the status. As far as