The twenty-first century has placed considerable emphasis on the need for effective and dynamic leadership, given the role it plays in the success of organizations.

education

Description

Introduction

 

The twenty-first century has placed considerable emphasis on the need for effective and dynamic leadership, given the role it plays in the success of organizations. As a result, a majority of establishments tend to seek powerful leaders due to the role that significant leadership attributes play in ascertaining that responsibilities are undertaken in a manner that satisfies the set standards. At the same time, the formation, as well as the development of high functioning teams across organizations, does not often take place overnight but requires the strength to overcome the challenges that are likely to arise. It is further critical to note that the stages of team development require routine guidance from leaders (Bai et al., 2019). The assertion hinges on the fact that over the course of the establishment of teams, personalities often intertwine because of various motivations and proficiencies. In as much as all the teams are likely to experience the stages of team development, some of the groups do not register organic progress. This results in failure and their inability to realize their objectives routinely because they are not often moulded into units that are high functioning. Consequently, it can be argued that the failure of teams to realize their objectives can be hinged on either the inability of the members to synchronize their input and lack of adequate leadership.

Transformational leadership denotes a leadership style where the leaders often inspire and motivate their employees to innovate and bring about change that is critical in the success of establishments. Transformational leadership is an essential approach, given that it tends to motivate and inspire employees without any form of micromanagement. The employees are often accorded the chance to be creative and evaluate the future to the trust that they have earned and the extent to which they have been empowered. The leaders who exhibit transformational leadership attributes tend to often encourage positive development and motivation among their followers while demonstrating the projected moral standards (Hashmi et al., 2018). Similarly, the leaders who demonstrate transformational leadership often contribute to the development of an ethical environment where there are values and priorities. To stress the need for authenticity, it is critical for transformational leaders to provide mentoring and coaching services to their employees, thereby making sure that they develop the competencies that are required for success in the industry.

In Malaysia, as in other parts of the world, the financial industry has been facing several challenges. The digitization of the financial sector, for instance, was intended to solve problems. Nonetheless, it has brought about several new challenges. For starters, data breaches in the financial sector have risen by 480% from 2017 to 2019 (Bai et al., 2019). Given that each of the attacks normally costs the financial institutions millions, it is critical for innovative strategies to be employed to manage the rise in cybercrime. At the same time, effective leadership is needed to make sure that employees are competent enough to navigate the regulatory policies that are increasing in the financial sector. The previous studies that have been undertaken on successful teams have established that they are significantly different from the ones that are less successful in terms of their behaviour and approach to issues. Transformational leadership has been determined to significantly raise the awareness of followers; thereby ascertaining that the expected outcomes are achieved. The paper explores the impact of transformational leadership on team dynamics in a financial institution in Malaysia. The paper submits that transformational leadership often positively influences the motivation level of employees of the financial institution, thereby enhancing team dynamics due to their improved commitment to the objectives of the firm. 

Instruction Files
DRAFT.docx
30.0 KB

Related Questions in education category


Disclaimer
The ready solutions purchased from Library are already used solutions. Please do not submit them directly as it may lead to plagiarism. Once paid, the solution file download link will be sent to your provided email. Please either use them for learning purpose or re-write them in your own language. In case if you haven't get the email, do let us know via chat support.