My Leadership ProfileElnur GurbanovJack Welch Management InstituteDr. Karl LiebJWI 510: Leadership in the 21st Century21 October 2018Table of Contents TOC o “1-3” h z u Introduction PAGEREF _Toc401526804 h 3My Leadership Experiences PAGEREF _Toc401526805 h 3My Leadership strengths PAGEREF _Toc401526806 h 6My Emotional Intelligence PAGEREF _Toc401526807 h 7My DiSC profile and Leadership Skill Development.
PAGEREF _Toc401526808 h 8Conclusion PAGEREF _Toc401526809 h 9References PAGEREF _Toc401526810 h 10IntroductionNowadays, organizations of different industries have to survive in a dynamic, volatile and complex environment. Therefore, the role of the leadership became critically important to help these organizations to unite their capabilities and to develop the right common vision and values. There are so many theories and definitions of the leadership, where everyone has his/her understanding and the way of experiencing it. Nevertheless, for everyone, it is a continuous process, which maximizes the joint effort of people and creates the synergies towards the achievement of a common goal. While different people have different abilities, skills, and potential, almost everyone can grow himself as a strong leader. This journey starts with a deep self-understanding.
In this paper, I will introduce the leadership and managerial aspects of my current role, as well as share experiences that had an impact on myself as a leader. Further, I will emphasize my leadership strength based on those experiences, then my professional Emotional Intelligence aspects, and support all this by the results of DiSC assessment. Finally, will conclude with the identification of leadership skills that will be an area of further development and through what they would be mastered. My Leadership ExperiencesMy Current RoleThe Board of Directors (“BoD”) is the most influential decision-making body in the organization. An efficient BoD production culture can be characterized by cohesiveness, creativity, openness and generosity, criticality, and involvement and preparations (Forbes & Milliken, 1999; Huse, Minichilli, & Schøning, 2005; Stiles & Taylor, 2002). Taking this into account, if the BoD should work as an effective team, then the Chairman must take an active role as a leader in the boardroom (Cascio, 2004).
Therefore, as a Chairman of BoD, I am accountable for the leadership and promotion of the robust standards of governance within the BoD and in the organization. Further, responsible for ensuring that the BoD is receiving accurate and up-to-date information to enable them to supervise over the organization’s performance, make constructive decisions, and address all the key and significant matters in a timely fashion. Additionally, to promote strategic relationships and clear communication, as well as to create a wealthy climate in the organization where people have the voice. Also, to identify the opportunities and meet development needs within the BoD and management to enhance overall effectiveness. Finally, to establish strong corporate governance and promote the values that comprised of the integrity, candor, commitment, open-mindedness, efficiency, flexibility and loyalty.
Additionally, as a managerial aspect of my role is to ensure that the BoD plays an executive role in the development of the organization’s strategies and policies, as well as monitors that the management properly executes them. Also, the important responsibility is to lead an effective communication with the shareholders to promote new strategies and ideas. Key Leadership Experiences The key experiences that significantly impacted me as a leader took place while executing abovementioned duties within the last two years. When I joined the Bank, it was distressed and my first mission there was to revive it and give a new breath into it through transformational changes. After a comprehensive analysis of the business processes and operations, I prepared the strategy on the bank’s transformation based on my experience in different industries and projects, and immediately started its execution.
My first step was to convince the key stakeholders and members of the BoD that the proposed turnaround strategy is the optimal way to boost the value of the company. After many difficult negotiations, we concluded to change the company’s strategy, to develop new capabilities, form new teams to drive the change and adhere to the corporate vision and values. My experience in negotiations with C-level personnel and ability to work under pressure and within a tense environment helped me to achieve the consensus on the top and then to go further. The next step was to evaluate the performance of the company’s management and to optimize management level personnel with the consent of the BoD. After that, I was able to build strong relationships with a newly formed management team and brought new people with highly professional profiles and experience in business to move together towards a common goal. As a result, the new management team was formed, and better internal controls were implemented. Furthermore, the Bank is the affiliate of a big state Holding where I am also performing a management role. The next influential experience that I can emphasize happened in the frames of this Holding.
During the evaluation of the performance of the Holding’s units, I noticed one profitable merger opportunity. By reviewing the strategies and financial indicators of two units, I observed that they were not performing successfully independently, however, if they would be merged they could gain profitable results. One of the units was a professional sales company with a great pipeline of sales of commercial properties, but with no proper corporate governance, which led to serious problems inside the organization.
While the other was dealing with sales of the hotels but did not have a saturated client base, however, in contrast, had strong internal governance with a highly qualified workforce. After a deep understanding of the units from inside, I proposed to the shareholders a merger opportunity and demonstrated expected future profits as a result of a created synergy. The negotiations were successful; two entities merged and currently are operating in a profitable manner. My Leadership strengthsThroughout my career, I have been through a constant self-analysis to identify my strength and weaknesses as a professional. However, especially after such substantial experiences as were described above, I was able to understand myself better as a leader. After reaching significant results and being able to become an advocate of changes, I can emphasize my leadership strengths as follows: Strong communication skills and making complex ideas simple – for me as an ability to reach the consensus with employees at all levels and to get approvals from the shareholders on transformations by convincing them of my vision.Thinking ahead and moving quickly on opportunities – as George S.
Patton once said, “A good plan violently executed now is better than a perfect plan executed next week” (Forbes, 2017). I am always eager for improvements and finding optimization opportunities through an understanding of other industries, areas, organizations, issues, processes, and people. Which leads to the next strength:Curiosity, which was emphasized by Jim McNerney as well.
Through constant learning, we expand the thinking and are becoming global business people, what enable us to motivate our employees and create clear visions as well as form right behaviors (JWI510 EOP Videos).Listening, empathy and giving proper credit when it is due – currently this is an area of my personal development. Since in the process of change, I could see that people are one of the most important priorities. The focus should be on constant team upgrade initiatives through evaluation, coaching, building self-confidence as well as celebrate the success and recognize the efforts (Welch, 2015). Motivated and educated people are a key element to get the results. My Emotional IntelligenceDifferent leaders exhibit different leadership styles and therefore have different degrees of Emotional Intelligence (EI). An understanding of the exact elements of EI is important not only because this capacity is so central to leadership, but also because different people have different strengths and weaknesses.According to Goleman (2000), the following are the competencies of EI that are considered as strengths of effective leaders: 1) self-awareness, 2) self-regulation, 3) motivation, 4) empathy and 5) social skill.
He stated that to expand the style repertories, leaders must understand which EI competencies underlie the leadership styles they are lacking.An effective combination of leadership styles is key to creating a prosperous climate within an organization and, therefore, to obtain lucrative financial results.As an Executive person, I can argue that sometimes you need to breakdown to breakthrough and be flexible to switch from one Leadership style to another depending on circumstances and environment within your organization. In my case, the mix of Democratic, Affiliative, Authoritative and Coaching Leadership created a healthy organizational climate.
When I was involved in the turnaround process, I was more adhering to the Coercive style. This was effective only at the first stage of the turnaround when the precise decisions were made, and immediate compliance was required. For example, we observed that there was much cash and in small banknotes in the bank safe. It was left there in very inaccurate way.
I have shouted at people just to count them and transfer to our correspondent banking accounts. When we transferred it we noticed that we could invest that money to buy, for example, government T-bills. This could not be achieved with a Democratic, or time-consuming Coaching style.
In the process, I understood that I had to switch to the combination of Authoritative and Democratic styles to involve the people in the decision-making process to create an environment of unity, trust, candor, responsibility, and commitment. As a result, people started to express their concerns as well as fresh business ideas. This is currently necessary since we have started to expand our sales, and we needed ideas from different groups of people (sales managers, risk leaders and other experts) on how to boost our revenues. This led to the following: the creation of common vision, setting a precise plan on its execution, mobilizing teams towards this vision, assigning the accountability for its accomplishment, setting corporate standards and development of an effective reward system. Currently, I am developing and refining my leadership style with Affiliative and Coaching elements.
My DiSC profile and Leadership Skill Development. Continues improvements in leadership skills, as well as my leadership strengths that were described earlier in this paper, are reflected in the results of my DiSC assessment. My style is “D-dominance,” which reflects my personality characteristics. According to the assessment, I prefer to have variety and forward momentum, attention might be quickly shifted to the next goal upon the results, exude the self-confidence and believe only in my own opinions that may make it difficult to admit that sometimes I need to depend on others. Furthermore, I take control over projects where authority was meant to be divided, alienating some people.
To sum up, the most valuable contributions to my organization include my drive to get results, a tendency toward bold action, and willingness to challenge assumptions (John Wiley & Sons, 2012). Consequently, this assessment also positively contributed to the identification of the skills that need to be developed. Now I am working on the improvement of my level of empathy and effective communication, as well as focusing more on capabilities’ development rather than on immediate work results.
I am developing these skills through ongoing coaching, delegation, and provision of learning opportunities.ConclusionThe aim of this paper was to share the results of a long way of self-assessment and a better understanding of myself as a leader and a clear authenticity. Moreover, to demonstrate the strengths of my Leadership Style, as well as to share the highlights of my experience as a Banking Executive. Further, the significance of the notion about the mission, unity, and values was emphasized. And the passion for transformational changes to get the best results and better people management was demonstrated.
Lastly, the areas of my Leadership skills and Emotional Intelligence that have to be developed further were identified through a comprehensive analysis of my Leadership Style. References Cascio, W. F. (2004). “Board governance: A social system perspective”.
Academy of Management Executive, 18(1), 97-100.Forbes, D., ; Milliken, F.
(1999). “Cognition and corporate governance: Understanding boards of directors as strategic decision making groups”. Academy of Management Review, 24, 489- 505.Forbes Community Voice (2017) “12 Strengths That Will Help You Be A Better Leader”.Goleman, Daniel (2000) “Leadership that gets results”.JWI510. Week 3.
Videos: Jim McNerney. “Best Bosses”, “Motivation”, “Characteristics of Successful Leaders”.JWI510. Week 3. Videos: Joe DeAngelo. “Best Bosses”.
Huse, M. (2005). “Accountability and creating accountability: A framework for exploring behavioural perspectives of corporate governance”. British Journal of Management, 16, 65-79.Stiles, P.
, ; Taylor, B. (2002). “Boards at work: How directors view their roles and Responsibilities”.
Oxford, England: Oxford University Press.Welch, Jack (2005) “Winning”, 63.Wiley, John ; Sons (2012) “Workplace Profile”, 4.