Principles of Management

Ans.1. A leader influences the behavior and attitudes of his or her team members. Moreover, leadership is the ability of every individual who influences the behavior of the employees working in the organization for the purpose of accomplishing a common goal so that they could willingly co-operate with the other members in the team for the execution of the same (Sethuraman and Suresh, 2014)

A leader when effective is capable of managing changes taking place in the organization as change is considered to be the only approach of sustaining the organization within the recent business environment. Leadership can be regarded as a factor that can be used for motivating as well as encouraging people for incessant making changes and also push them to change.

Leaders cannot be successful in leading unless leaders understand his or her people or followers they are leading. One of the functions of leadership is to guide and lead the people who try to follow the identical values. It is significant for the people to establish relationships and build communities. Moreover, commitment is vital to the cause for the group values as with the help of commitment one can find more sense in the activities or task being carried out (Simonet & Tett, 2013).

Leadership takes place when the followers are persuaded for doing ethical and advantageous for their won benefit and for the organization. The effective leaders tend to create objectives that are attainable for the company. With the establishment of specific, achievable, measurable and time-bound objectives, the leaders make their followers focus on generating outcomes that are useful for profitability and long-term success of the organization.

Leadership is usually shared. The followers who are good and effective perform the roles of leadership when required. Leadership is the process of influencing between leaders as well as followers and it is not only the leader who influences followers. To know how to lead and develop leadership skills makes a person a better follower and leader.

Ans. 2. Uber is the tech firm that has invented the most popular service of ride-sharing and also has disrupted the movement of the entire world. Currently, the organization is facing a he challenge since its commencement which is the revolution across self-driving car (Srnicek, 2017). The current business model of Uber states that it functions as platform which is two-sided linking the drivers as well as riders. The vehicles are not owned by the company and depend on the individual driver who is driving his own cars. The company establishes a strong network impact along with the enabled swift expansion within the new markets due to the fact that it is light on assets and based on two-sided platform. However, the elimination of ownership of private cars can be considered to be one of the massive effects on the self-driving. Additionally, the reduction in the ride fare or driver salary or enhanced utilization could make the ownership of private car too expensive comparatively.

Thus, there is a requirement for the company to establish and acquire their fleet of vehicles for the keeping the cost low and also preserving a huge vehicle network. Uber can get into the partnership with the existing manufacturers of cars for integrating sensors as well as computer system. As the massive rider user base is controlled by the company, demand can be made by it based on its favorite deals with the manufacturers of cars on the basis of ownership of user data along with the revenue sharing of service of in-car. Software as well as algorithm could also be developed that could power the self-driving car along with the license. At present the technology that powers the self-driving car is too costly but the price is predicted to reduce exponentially just like various other computer technologies. Furthermore, the company can also play a key differentiator in the development of technology for leveraging their huge network of Uber drivers. For enhancing the reliability and intelligence of the technologies of self-driving, sensor data collection as well as road testing is required. Apart from this, Uber can also use crowd-sourcing method for establishing an edge against the rivals in terms of algorithms and software performance within the market.

Ans. 3.The Big Five personality dimensions are:

Openness to experience- Thos individuals who score high in this dimension are usually risk-takers, creative curious and non-traditional. On the other hand those who score low in this are more conventional, vigilant and conforming. Such leaders are considered to be ideal in circumstances wherein the protocols and guidelines are required to be followed. Openness is the tendency to be creative, curious, informed and to have various experiences.

Conscientiousness- People who are high on this are usually organized, responsible, self-disciplined and cautious. People having high degree of conscientiousness are usually prompt and reliable. The major traits involve methodic, organized and thorough. Conscientiousness is considered to be a measurement of goal-directed behavior along with the amount of control. The leader who is focused strives extremely hard to achieve the goals even if the goals are limited. When a leader is more conscientious, the person is more dutiful, competent, responsible, orderly and thorough (Leutner et al., 2014).

Extroversion- This is the dimension that contrasts on the basis of outgoing character along with the withdrawn nature. The extravert leaders tend to be more verbally and physically active while introverts are steady, independent, reserved and like to be alone. The extraverts are assertive, adventurous, sociable, frank and talkative.

Agreeableness- This dimension is associated with the nurturance, altruism, and emotional support and caring versus hostility, competitiveness, spitefulness, self-centeredness and jealousy. The agreeable leaders can be describes as kind, gentle, altruistic and warm. The leaders of this dimension are cooperative, friendly and compassionate.

Neuroticism- Neuroticism is regarded as the measurement if emotional and affect control. When a leader possess low level if neuroticism it indicates emotional stability while high levels enhances the chances of experiencing the negative emotions (Antonic et al. 2015). Leaders having high levels are quite reactive and can be easily disturbed by the stimuli within their environment. They usually become unstable, temperamental, worried and sad. Majorly, this dimension is related to the emotional stability of the person along with the degree of negative emotions.

Ans. 4. Planning is the foremost responsibility of the effective and efficient leaders which further influences the processes of the business operations. Moreover, leaders are required to ensure that they make things work out as planned which requires control. Control system mainly assists the leaders to execute operations appropriately and prevent any kind of deviations in the ongoing processes. However, controlling depends on various factors such as technological, political, cultural, economical, legal, environmental, and social forces. The key reasons to control include:

1. Control helps in dealing with the uncertainties by establishing and providing structure. For example, if the leader is well aware of the future risks of the business and problems faced by the employee set, he will be able to produce a solution in order that the same risks are mitigated effectively.

2. Control aids in accomplishing the goals of the organisation. It helps in taking care of the plans that are implemented. For example, if the target of a particular task is defined to achieve sales of $200, the leader will lead and motivate the team to carry out the work with the required investment of time and efforts. As a result, the difference between the actual and the expected results would be reduced.

3. Control assists in maintaining the accuracy of the planned and defined standards. For example, leader will compare the actual performance of the required work with the standards set for the task to realize if the standards are not more or less than the other general principles and standards. Furthermore, the leader may redefine the same in case of need.

4. Control helps in making optimum and efficient usage of resources be it physical resources or human resources. For example, a leader will ensure that no team member intentionally delays the needed work performance so as to avoid delaying the achievement of the end goal. In addition to this, the leader will also ensure minimal usage of physical resources to facilitate more profitable margins.

5. Control helps effective leaders to ensure order and discipline. For example, while controlling, the leader will make certain that the implementation of the desired task doesn’t lead towards activities such as uncooperative attitude, corruption, data or any other theft, delay in work, etc.

Ans. 5. It is believed that if an individual is making a rational decision, it provides himself with great satiation along with benefits. It has been identified that there are multiple situations where an individual has to make a rational choice so that he/she could enhance the output of their actions. The biggest example of this particular scenario is scarcity. If an individual is facing scarcity he will make the best use of all the resources he has at hand. According to researchers, any rational person portrays some sort of self-control, which helps them to fight the emotional as well as external factors. However, it is not true, because according to the scholar's humans are not very good at making decisions, their decision is swayed by their emotions as well as the external factors that are present in their respected environment.

No rational decision making is initiative and judgmental, it does not follow any sort of logical reasoning behind their decision making. It has been identified that the non-rational model is descriptive in nature that is they do not provide any sort of logic behind the decision-making process. Along with that, this particular model is realistic as compared to the rational model of decision making as this particular model considers the fact that the actions of the individuals are directly or indirectly swayed by their emotional states as well as the environmental condition that might surround the individual while taking the decision. The biggest feature of this particular model is that there is no set result of the decision made by the individual; a non-rational decision can never be predictable.

According to the non-rational decision-making model, all the actions that are taken by the individual do not showcase the complete thought process that might have been utilized for the particular task individuals do try to understand the information that is being hinted to them, but fail miserably. Also, individuals are not able to identify the best alternatives that can be utilized by them to reach an expected result.

From the above discussion, it is clear that even if humans try to make a rational decision they are going to fail, as multiple factors stop individuals from making those decisions that could be closely related to their expected results.

References for Principles of Management

Sethuraman, K., & Suresh, J. (2014). Effective leadership styles. International Business Research, 7(9), 165.

Simonet, D. V., & Tett, R. P. (2013). Five perspectives on the leadership–management relationship: a competency-based evaluation and integration. Journal of Leadership & Organizational Studies, 20(2), 199-213.

Srnicek, N. (2017). The challenges of platform capitalism: Understanding the logic of a new business model. Juncture, 23(4), 254-257.

Leutner, F., Ahmetoglu, G., Akhtar, R., & Chamorro-Premuzic, T. (2014). The relationship between the entrepreneurial personality and the Big Five personality traits. Personality and individual differences, 63, 58-63.

Antoncic, B., Bratkovic Kregar, T., Singh, G., & DeNoble, A. F. (2015). The big five personality–entrepreneurship relationship: evidence from S lovenia. Journal of Small Business Management, 53(3), 819-841.

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