Leadership Essay Example | Topics and Well Written Essays - 1000 words - 17

Leadership - Essay Example In our daily life, we often play the role of a leader whether or not we realize this. In this paper, I have analyzed my own style of leadership that prevails in a particular context. This paper first describes the scenario in which I have analyzed my style of leadership followed by a comprehensive discussion of the identified style of leadership. I used to play in a rock band as a lead guitarist. There were five members in my group. We used to record songs and I used to take active part in that activity. I used to tell my group members my opinions regarding the songs as well as their lyrics. Since our group also made songs, and I have good sense of poetry, I helped my group write the lyrics of the songs. Even now when my friends make a new song and record it, the first person they send its copy for a review and necessary alteration is me. This is because they believe in my abilities as a lyricist and trust me that I would give them honest advice. When I give advice, they change the songs accordingly. In the situation described above in which I help my friends in writing the lyrics of the songs or help them modify the lyrics they have written to make the songs perfect, I play the role of a servant leader. Robert Greenleaf coined the term â€Å"servant leader† in the 1970’s. Servant leader is a person that may not necessarily be formally identified as a leader. When an individual working at any level in an organization leads just by addressing the needs of the team, that person essentially plays the role of a servant leader. In my case, I used to meet the needs of my friends by giving them useful advice regarding their songs. Although by doing so, I helped them yet I was never recognized as a leader perhaps because I was their age and a friend to them. This made me their servant leader. A servant leader resembles a democratic leader in many ways since in such a leadership, the whole team plays a role in the decision-making. In my case, when I

The theory and practice of risk management Dissertation

The theory and practice of risk management - Dissertation Example There has been a major turbulence in the credit market which can be traced to the institutional changes brought about in the housing finance sector, in developed countries. Housing finance markets were deregulated, leading to a heighted competition in the credit lending market, and the integration of housing finance with the capital markets further worsened the crisis (Hoggarth & Pain, 2002). Also, the rapid development of technology brought about significant changes and played a key role in developing and strengthening the money market funds. The wide-scale use of technology further led to a global economic boom and helped in reducing the interest rates to a considerable extent. This increased the profitability of banks to considerable extent. Bank profitability is defined as a result of internal and external determinants (Short, 1979; Bourtke, 1989; Molyneux and Thornton, 1992; Demirguc-Kunt and Huizinga, 2000). Internal determinants include size, capital, credit risk, costs etc. T here is a positive relationship between size and profitability of banks (Akhavein et al, 1997; Smirlock; 1985). ... After the introduction of the Building Societies Act, various building societies were converted into banks, while the rest of the building societies enjoyed unlimited commercial liberty under the Act. Changes such as these, added to the already competitive market. The banking sector was rapidly transforming during this period, following such changes. It was during the period 1991 – 1996 that the mergers and acquisitions increased drastically in the UK. The new entrants in the market comprised of non-financial institutions such as football clubs and insurance companies who were given authority to enter the retail market. Apparently, such drastic changes in the banking and financial services industry, in the U.K., gave rise to critical challenges, as the external environment in which the banks operate became increasingly concentrated. Banking regulation was relatively weaker, thus increasing the vulnerability of the sector, and significantly altering its power to address the ris ks faced by it. The case of Northern Rock: The bank which operated on Northern Rock, is one such glaring example of the vulnerability of the banking sector as well as the credit crunch which ensued such rapid transformations in the U.K. banking sector. This was the oldest running bank in the country, with over 150 years of business, however, its failure posed serious questions and left doubt regarding the effectiveness of the regulatory practices. The inefficacy of the regulatory practices coupled with the vulnerability of the bank, highlighted its inefficiency of responding to the crisis, hence services of the Bank of England were sought as a last resort.