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MGT502 Business Communication For Qualities of Charismatic Leadership

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Questions:

This assessment addresses the following subject learning outcomes:

a) Demonstrate academic skills appropriate to the level of study
b) Demonstrate research skills and referencing appropriate to the level of study
c) Critically analyse texts and/or multi-modal material in both a business and academic context

Answer:

Overview

In "The Wolf of Wall Street", the central character Jordan Belfort is an extremely greedy man and he has a dream of becoming the millionaire. The charismatic leadership was followed in that case. The leadership motivate their surroundings and make some changes in business which are ruthless in every aspect but still the success will become at the end. The achievement-oriented style is different in that case and extreme focus on the objective is there. The path-goal leadership theory is discussed in this form of leadership for their subordinates for the greater good for the company (Roulet, 2015). The appeal was made by Belfort is a process of enhancing their employees quality and directed them in the way of objective meeting. The character is drug abuse, alcoholic, sexism was there, but the energy delivery to their employees as the dream of multi-millionaire at the age of twenty-six years made him different from others. The greed of having a millionaire and make a promise to achieve would change the mind set and that formulated through the movie.

Qualities of effective leaders

The qualities of charismatic leadership were present in the character, but there are five more significant aspects needed to be mentioned that Jordan has. The vision of seeing the world and relate success with that made him different in case of engaging employees for the development of the business. The character has effective communication as well and being an entrepreneur, a sense of gratitude towards the vision was portrayed by the director. The state management was another great impact that was extracted through the movie. The control of emotional biases was the key issue in that case and calm, optimistic behaviour will help to control the resources. As mentioned by Mennell, (2014) the clarity, courage, and certainty of work were there and that made the process easy in case of managing the organisation. Believe in break limit also smoothen the success and a leader need to know their limitations and the possible break limit need to be set for own work process. Slow and steady build up and to identify the opportunity in the business was measured in the case of Jordan. Employ an effective strategy will help to set the standard of doing business. A leader needs to think about the sustainable approach for business. At the initial time, Jordan thought of making money is the key sustainability of success but the scenario changed after the business ideas of involving massive people have done. As commented by Mahembe & Engelbrecht, (2014) Provide values and monitoring those values in case of business sustainability is the key approach in that case. Build a strong team and provide reward and recognition to those employees is a perspective of the leader. Jordan knows that encouragement from the owners' level will inspire and motivate employees and visualise them the same dream that Jordan saw before the business progression. Creative team building and provide the fun and leisure to maintain their work-life balance and encourage them with money and communicate with them from the ground level help them to understand the intimacy of owner or manager with their employees.

Thus charismatic leadership has the power to change employees’ directive and motivate them in the new world of achievements and standards. This is an achievement-oriented leadership style and that focused on maintaining the efficacy of people and their approach of gaining advantage. Belfort encouraged their staffs and set challenges for employees to overcome (Thomson & Van Niekerk, 2012). The skilled employees’ selection was important in that case and Jordan has that loyal team to rely on. The personal characteristics of vices are dominated by the success and the aspiration of having millionaire changed the idea of organisation outstretch.

Importance of charismatic factor

The execution of ideas are portrayed in this movie and that was come up from the young, educated people should sound in the profession of stockbrokers over the phone. The placing of ideas at the right time with the simplified viewed of mannerism was the key approach that had shown in this process. The greed of having more money and showing them the path of the directive to earn that money is the key approach that Jordan showed to the team. The loyal team selection and made them ready for acquiring the success and motivate them from the back was the key deliverance Jordan delivered in that case (Green, 2015). The ideas are diversified and his personal depraved actions had not impacted on that case. Self-esteem and charisma was the vital part of Jordan Belfort and through this idealized influence to make positive steps helped the company rather the man become richest. The thought process of leading and performing in a different manner helps to maintain the innovative approach of leadership perspective.

In the movie, Jordan was under debt and the situation was not good for the business building situation. The positive thoughts were blocked and mission became interrupt. The strategic decision making approaches were coming hardly and that impacted on the situational effectiveness of a leader, especially in case of Jordan. Through the approach of believe in setting limit and state management system the situation was in under control for Jordan. The last thing he needed, was to motivate and encourage employees for the progressive situation. The vision was there at the same situation and Jordan built that with the essence of team motivation and inject them the desire of become rich and that makes difference is organisation and business.

Importance of followers

Leadership is the association that articulates formed by leaders and followers. If followers are not implemented their efforts, then leaders will not able to see the profit. The high degree of teamwork and group motivation is there for the development of active play role of constructing leadership relation. Followers' loyalty, working nature, skill and impact in behavioural change are important in case of advancement of the business. Transcend self-interest for doing the work in a collective manner and make emotional attachments with the leader or the process is the key deliverable in case of idealising the values and goals. Followers’ self-sacrifice is also there and they prioritise the emotional attachment with the company that makes a good ground with organisation and leader. As stated by Weatherall, (2013) Moral conviction development and assertiveness in employees will help the process for followers to move at this directive to gain most of revenue accumulation. Employees' sense of commitment comes as they see their leader. In the case of "The Wolf of Wall Street", Jordan showed that commitment to be a millionaire, thus motivated employees have become followers of the leader and they gain their objective in quick time. 

Reference

Green, M. E. (2015). Gramsci and subaltern struggles today: Spontaneity, political organization and Occupy Wall Street. In Antonio Gramsci (pp. 156-178). Palgrave Macmillan, London.

Mahembe, B., & Engelbrecht, A. S. (2014). The relationship between servant leadership, organisational citizenship behaviour and team effectiveness. SA Journal of Industrial Psychology, 40(1), 01-10.

Mennell, S. (2014). What economists forgot (and what Wall Street and the City never learned) A sociological perspective on the crisis in economics. History of the Human Sciences, 27(3), 20-37.

Roulet, T. (2015). “What good is Wall Street?” Institutional contradiction and the diffusion of the stigma over the finance industry. Journal of Business Ethics, 130(2), 389-402.

Thomson, K., & Van Niekerk, J. (2012). Combating information security apathy by encouraging the prosocial organisational behaviour. Information Management & Computer Security, 20(1), 39-46.

Weatherall, J. O. (2013). The physics of wall street: a brief history of predicting the unpredictable. Houghton Mifflin Harcourt.

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