Leadership Approach Considerations
Question 1
As I look forward to opening my recording studio, I have established the goals and objectives I want to achieve in my business. One of my goals is to deliver high-quality services to my clients by hiring skilled as well as retaining a talented workforce (Hein, 2020). My other goal for this business is to instill strong leadership skills in my employees by empowering them and team building. My key objective in this business is to grow the company not only locally but also globally.
Question 2
Leadership will play a major part in ensuring that I reach my business goals and objectives. I want to utilize my leadership skills to influencing my employees’ behaviors in different manners (Pinnington, 2011). I can achieve this by creating a clear vision for my business to guide my employees towards achieving the goals and objectives of the business. Besides, I can motivate my employees through rewards, promotion, and recognition (Pinnington, 2011). This can greatly assist my employees in achieving the goals and objectives I have set for my business.
Question 3
My leadership and organizational vision are to help my business to lead in the music recording industry by offering high quality and unique services to my customers. My leadership and organizational vision are related to my organizational core competency (Hein, 2020). This is because it will ensure that I hire competent employees who can produce and deliver services that are unique from those of our competitors. This will help my business to develop a strong brand and identity, both locally and globally.
Question 4
My team will be composed of interdependent employees sharing common goals. My team must have the ability to coordinate activities for purposes of accomplishing my business goals and objectives (Akhtar & Khan, 2015). I want to build a strong team that will be dedicated to achieving the goals of our business.
Question 5
My approach to decision making for my business will be participatory. I will ensure that I involve all my employees in every decision I make regarding the business (Baesu & Bejinaru, 2014). This will help my employees and give their views on the best direction the business should follow to achieve the goals of the business. This will also help in solving problems facing the business. The process for reaching consensus I want to adopt in my business is working together with my employees to come up with a logical solution (Pinnington, 2011).
Question 6
I want to adopt a functional organizational structure for my business. My business will be composed of different departments, including human resources, purchasing, sales and marketing, accounting, and so forth (Akhtar & Khan, 2015). Each department will have several employees and a manager. Managers from all the departments will directly report to me as the company’s director. Furthermore, the organizational structure will incorporate intra-band agreements. An intra-band agreement clarifies the roles and responsibilities of every employee in the company (Akhtar & Khan, 2015). This will assist in maintaining commitment to all our customers.
Question 7
My business structure will be likely to provide several potential benefits not only to the organization but also to individuals involved. Adopting a functional organizational structure will ensure that every manager and employee are assigned tasks that he or she is best at (Hein, 2020). This will enable the business to deliver the best and unique services that meet the needs of our clients. Also, this organizational structure will protect the business for risks of poor performance, whereby an employee is assigned tasks he or she has lacks skills or experience in (Baesu & Bejinaru, 2014). With a functional organizational structure, each employee will be assigned tasks that match his or her skills and competency.
Question 8
Various HR issues are likely to arise in my organizational activities. One of these issues is management changes. As my business will continue growing, its structure, together with internal processes are likely to change (Pinnington, 2011). However, some of my employees will find it challenging to adapt to such changes. During this time, employees’ morale and productivity will reduce. Another key HR issues likely to arise is retaining talented employees. Currently, there is intense competition when it comes to retaining talented employees (Pinnington, 2011). For a small business like mine, retirement plans budget is expensive. This may negatively affect business growth.
Question 9
There are various plausible and potential liabilities within my industry activities that can be protected by the “corporate shield.” One of the liabilities is the protection of personal assets. Since my business operates as a limited liability company, I will be assured that the “corporate shield” will safeguard personal assets will be protected from third-party claims, including creditors and tax agencies (Hein, 2020). This can happen when the business defaults the payment of its loan. Another circumstance the “corporate shield” will protect me is in case the business becomes bankrupt. When this happens, the personal assets of shareholders will be retained.
Question 10
Due to the nature of my business, ethical issues are likely to arise. One of the major ethical issues likely to arise is the illicit copying of music files. The widespread use of the internet in the industry has increased cases of piracy or copying of music (Baesu & Bejinaru, 2014). This issue is a big challenge not only to musicians but also to the industry in general. This is one of the key ethical issues likely to affect the operation of my business.
Question 11
Due to the vulnerability of the business to ethical issues like piracy, I will set up systems that promote ethical awareness as well as prevent my business and customers from ethics breaches. Firstly, I will establish an ethical code of standards that every employee in my company must adhere to (Hein, 2020). Secondly, I will ensure that I train all my employees on how to comply with the set ethical standards. This will create awareness of ethical practices needed in the industry.
Question 12
Conflict of interest can greatly affect the operations of the business within the music industry. I can address this issue of conflict of interest in my business by empowering and encouraging my employees to be honest by informing the manager or me incase they handle a client whose conflict of interest may arise. (Akhtar & Khan, 2015) Also, I can enforce rules that prevent employees from engaging in activities that bring conflict of interest (Akhtar & Khan, 2015). Those who violate these rules should be severely punished.
Question 13
Leadership will play a transformative part in my business as well as career. I will adopt transformative leadership in my organization to create a good working environment for my employees (Hein, 2020). This will include developing training programs to help my employees advance their skills. This will help them grow their careers; hence, help the business meet its goals and mission.
Question 14
My leadership approach will help me address issues such as team and organizational morale. I will adopt a functional leadership approach to empower my team and boost their morale. I will implement effective communication channels to ensure that everyone is well informed and updates about the activities and operation of the organization (Pinnington, 2011). This will assist me in building strong teams and boost my employees’ morale.
References
Akhtar, P., & Khan, Z. (2015). The linkages between leadership approaches and coordination effectiveness. British Food Journal.
Baesu, C., & Bejinaru, R. (2014). Leadership approaches regarding the organizational change. The USV annals of economics and public administration, 13(2 (18)), 146-152.
Hein, R. (2020). How to Apply Transformational Leadership at Your Company. Retrieved 14 March 2020, from https://www.cio.com/article/2384791/careers-staffing-how-to-apply-transformational-leadership-at-your-company.html
Pinnington, A. H. (2011). Leadership development: Applying the same leadership theories and development practices to different contexts?. Leadership, 7(3), 335-365.