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Each of us thinks we know what it means yet our ideas about it often do not match. One person‟s image is the leader as hero – another‟s focuses on the leader as chief servant. And things become no clearer when one consults the hundreds of volumes on the subject on the shelves of the local business bookshop. They just add to the confusion with their various models, and few of them have anything to say about family business. Everyone in a family firm knows that leaders are confronted by special issues and demands, but: Is there a special way of leading the family firm? Are there particular traps to watch out for? How can family influences be a force for good and not a source of disturbance? What specific measures and methods can be used to master the familiar challenges of governance, succession and ownership decisions?
There are three key questions to be answered in relation to this topic, which will interweave our account of the Inquiry. They are as follows:
What is the nature of the challenge in leading a family firm? This encompasses the roles and tasks of the leader, such as the outward facing challenge of leading strategy in increasingly
competitive markets, and the inward facing challenge to maintain the culture, family values and stakeholder
Who should lead? This is especially brought into focus by the challenges around the selection, succession and development of leaders, both family and non-family. What qualities should be sought, and how can the path be smoothed for cooperation, adjustment and achievement?
How should leaders go about their task, in aligning strategy, family, governance and business processes? When should recourse be made to non-family outsiders and advisors? What kinds of ownership, financial and communication strategies will bind together the elements that make a successful family firm?
CHARACTERISTICS OF LEADER Proactive vs. Reactive The exceptional leader is always thinking three steps ahead. Working to master his/her own environment with the goal of avoiding problems before they arise.
Flexible/Adaptable How do you handle yourself in unexpected or uncomfortable situations? An effective leader will adapt to new surroundings and situations, doing his/her best to adjust.
A Good Communicator As a leader, one must listen...a lot! You must be willing to work to understand the needs and desires of others. A good leader asks many questions, considers all options, and leads in the right direction. Respectful Treating others with respect will ultimately earn respect.
Quiet Confidence Be sure of yourself with humble intentions. Enthusiastic Excitement is contagious. When a leader is motivated and excited about the cause people will be more inclined to follow.
Work to consider all options when making decisions. A strong leader will evaluate the input from all interested parties and work for the betterment of the whole. Resourceful Utilize the resources available to you. If you don't know the answer to something find out by asking questions. A leader must create access to information.
Rewarding An exceptional leader will recognize the efforts of others and reinforce those actions. We all enjoy being recognized for our actions!
Well Educated Knowledge is power. Work to be well educated on community policies, procedures, organizational norms, etc. Further, your knowledge of issues and information will only increase your success in leading others. Open to Change A leader will take into account all points of view and will be willing to change a policy, program, cultural tradition that is
out-dated, or no longer beneficial to the group as a whole.
Interested in Feedback How do people feel about your leadership skill set? How can you improve? These are important questions that a leader needs to constantly ask the chapter. View feedback as a gift to improve.
Evaluative Evaluation of events and programs is essential for an organization/group to improve and progress. An exceptional leader will constantly evaluate and change programs and policies that are not working. Organized Are you prepared for meetings, presentations, events and confident that people around you are prepared and organized as well?
Consistent Confidence and respect cannot be attained without your leadership being consistent. People must have confidence that their opinions and thoughts will be heard and taken into consideration.
Delegator An exceptional leader realizes that he/she cannot accomplish everything on his own. A leader will know the talents and interests of people around him/her, thus delegating tasks accordingly.
Initiative A leader should work to be the motivator, an initiator. He/she must be a key element in the planning and implementing of new ideas, programs, policies, events, etc.
TYPES OF LEADERSHIP Different types of leadership styles exist in work environments. Advantages and disadvantages exist within each leadership style. The culture and goals of an organization determine which leadership style fits the firm best. Some companies offer several leadership styles within the organization, dependent upon the necessary tasks to complete and departmental needs. Laissez-Faire
A laissez-faire leader lacks direct supervision of employees and fails to provide regular feedback to those under his supervision. Highly experienced and trained employees requiring little supervision fall under the laissez-faire leadership style. However, not all employees possess those characteristics. This leadership style hinders the production of employees needing supervision. The laissez-faire style produces no leadership or supervision efforts from managers, which can lead to poor production, lack of control and increasing costs. Autocratic The autocratic leadership style allows managers to make decisions alone without the input of others. Managers possess total authority and impose their will on employees. No one challenges the decisions of autocratic leaders. Countries such as Cuba and North Korea operate under the autocratic leadership style. This leadership style benefits employees who require close supervision. Creative employees who thrive in group functions detest this leadership style.
Participative Often called the democratic leadership style, participative leadership values the input of team members and peers, but the responsibility of making the final decision rests with the participative leader. Participative leadership boosts employee
morale because employees make contributions to the decisionmaking process. It causes them to feel as if their opinions matter. When a company needs to make changes within the organization, the participative leadership style helps employees accept changes easily because they play a role in the process. This style meets challenges when companies need to make a decision in a short period. Transactional Managers using the transactional leadership style receive certain tasks to perform and provide rewards or punishments to team members based on performance results. Managers and team members set predetermined goals together, and employees agree to follow the direction and leadership of the manager to accomplish those goals. The manager possesses power to review results and train or correct employees when team members fail to meet goals. Employees receive rewards, such as bonuses, when they accomplish goals.
Transformational The transformational leadership style depends on high levels of communication from management to meet goals. Leaders
motivate employees and enhance productivity and efficiency through communication and high visibility. This style of leadership requires the involvement of management to meet goals. Leaders focus on the big picture within an organization and delegate smaller tasks to the team to accomplish goals.
HOW TO CHOOSE A LEADER IN FAMILY BUSINESS Everything works better with planning, and succession in a family business is no different. Survival of a multi-generational business depends on it. Illustrative of this: Mark was one cousin of three in a business whose patriarch delegated responsibilities and left for Florida (the business was in NY). The eldest was the nephew; Mark, a natural leader, was the oldest son, and the youngest son was caught in the middle of the family dynamics. There had been no succession discussion or any leadership development up to that time. The patriarch was not involved in the day-to-day operations, but returned every 3-4 months to check-in. The business was loosing market share and profitability. Having no equity, the cousins were frustrated in their inability to affect change in the business. Tensions were high when the patriarch was there. Successful succession (these words having the same prefix always intrigues me) in family business requires both intention and planning. The attached article, How Family-Run Businesses
Should Choose Future Leaders, describes a strong foundation for having conversation about leadership succession in a family business. While primarily addressing the business context, the conversations also applies to the vision of the family itself in future generations.
ROLE OF LEADERSHIP You learn leadership by being a leader. That‟s one of the major benefits of serving as a student chapter officer – having the opportunity to learn and sharpen your skills to become a better team member, a better manager, a better leader. Faculty Advisor The advisor establishes and maintains the continuity of the student chapter. The advisor‟s actions are guided by a clear understanding of the materials field in a societal context as well as familiarity with the benefits of participation in an established professional community. The advisor should be an enthusiastic supporter of students‟ efforts and will make many important contributions at planned events and activities throughout the chapter year. More than one faculty member may serve as advisor; however, one person should be identified as the primary contact.
Main Responsibilities • • • • Primary contact with society headquarters Receives chapter materials for distribution to officers Receives chapter rebate for distribution to Treasurer Advises chapter officers and committee chairs on the formation and implementation of goals, objectives and programs • Ensures that the chapter understands the role of ACerSAIST-ASM-TMS as a professional organization.
REVIEW OF LITERATURE
2.1. Srivastava S K, Organizational Behaviour ( A Comprehensive Study), Global Vision Publishing House, New Delhi, First Edition,2010
Srivastava S K have stated that leadership has long interested psychologist, sociologist, political, scientist, and certainly management scientists. Different theories have been used to study leadership. Early research on leadership was done on the study of people who were already great leaders. This contributed to the nation that leadership had something to do with breeding. The manager provides the employee the responsibility to plan and archive results.
2.2. Aquinas P G, Organizational behavior (Concepts, Realities, Applications and Challenges), Excel Books, New Delhi, First Edition, 2006 Aquinas P G has observed that leadership is a key process in any organization. People working there need leaders who could be instrumental in guiding the efforts of group of worker to achieve the goals of both individuals and the organization. Leadership is a process of influencing on a group. Leadership is a ability of a manager to induce subordinates to work with confidence and zeal. The leader is expected to play many roles and therefore, must be qualified to guide others to organizational achievement. An effective leader is one who can make ordinary man do extra ordinary things. Leadership is a lifting of a man‟s sights to a higher vision, the raising of man‟s standard to a higher performance, the building of a man‟s personality beyond its normal limitation.
INTRODUCTION TO RELIANCE
Reliance Capital Limited (RCL) was incorporated in year 1986 at Ahmedabad in Gujarat as Reliance Capital & Finance Trust Limited. The name RCL came into effect from January 5, 1995. In 2002, RCL shifted its registered office to Jamnagar in Gujarat before it finally moved to Mumbai in Maharashtra, in 2006. In 2006, Reliance Capital Ventures Limited merged with RCL and with this merger the shareholder base of RCL rose from 0.15 million shareholders to 1.3 million. RCL entered the Capital Market with a maiden public issue in 1990 and in subsequent years further tapped the capital market through rights issue and public issues. The equity shares were initially listed on the Ahmedabad Stock Exchange and The Stock Exchange Mumbai. Presently the shares are listed on The Stock Exchange Mumbai and the National Stock Exchange of India. RCL in the initial years engaged itself in steady annuity yielding businesses such as leasing, bill discounting, and inter-corporate deposits. Later, in 1993 diversified its business in the areas of portfolio investment, lending against securities, custodial services, money market operations, project finance advisory services, and investment banking. RCL was accredited a Category 1 Merchant banker by the Securities Exchange Board of India (SEBI). It had lead managed/co-managed 15 issues of an aggregate value of Rs. 400 crore and had underwritten 33 issues for an aggregate value of Rs. 550 crore. All these companies were listed on various exchanges. RCL obtained its registration as a Non-banking Finance Company (NBFC) in December 1998. In view of the regulatory requirements RCL surrendered its Merchant Banking License. RCL has since diversified its activities in the areas of asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services.
HISTORY OF RELIANCE 1960 - 1980 The company was co-founded by Dhirubhai Ambani and his cousin Champaklal Damani in 1960s as Reliance Commercial Corporation. In 1965, the partnership was ended and Dhirubhai continued the polyester business of the firm. In 1966, Reliance Textiles Industries Pvt Ltd was incorporated in Maharashtra. It established a synthetic fabrics mill in the same year at Naroda in Gujarat. In 1975, company expanded its business into textiles, with "Vimal" becoming its major brand in later years. The company made an initial public offer (IPO) in 1977. The issue was over-subscribed by seven times. In 1979, a textiles company Sidhpur Mills was amalgamated with the company. In 1980, the company expanded its polyster yarn business by setting up a Polyester Filament Yarn Plant in Raigad, Maharashtra with financial and technical collaboration with E. I. du Pont de Nemours & Co., USA. 1981 - 2000 In 1985, the name of the company was changed from Reliance Textiles Industries Ltd. to Reliance Industries Ltd. During the years 1985 to 1992, the company expanded its installed capacity for producing polyster yarn by over 145,000 tonnes per annum. The Hazira petrochemical plant was commissioned in 1991-92.In 1993, Reliance turned to the overseas capital markets for funds through a global depositary issue of Reliance Petroleum. In 1996, it became the first private sector company in India to be rated by international credit rating agencies. S&P rated BB+, stable outlook, constrained by the sovereign ceiling. Moody's rated Baa3, Investment grade, constrained by the sovereign ceiling. In the year 1995-96, the company entered the telecom industry through a joint venture with NYNEX, USA and promoted Reliance Telecom Private Limited in India. In 1998-99, RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance Gas. During 1998-2000, the company completed setup of integrated petrochemical complex at Jamnagar in Gujarat. 2001 - 2013 In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest companies in terms of all major financial parameters. In 2001-02, Reliance Petroleum was
merged with Reliance Industries. In 2002, Reliance announced India's biggest gas discovery (at the Krishna Godavari basin) in nearly three decades and one of the largest gas discoveries in the world during 2002. The in-place volume of natural gas was in excess of 7 trillion cubic feet, equivalent to about 1.2 billion barrels of crude oil. This was the first ever discovery by an Indian private sector company. In 2002-03, RIL purchased a majority stake in Indian Petrochemicals Corporation Ltd. (IPCL), India's second largest petrochemicals company, from Government of India. IPCL was later merged with RIL in 2008. In the years 2005 and 2006, the company reorganized its business by demerging its investments in power generation and distribution, financial services and telecommunication services into four separate entities. In 2006, Reliance entered the organised retail market in India with the launch of its retail store format under the brand name of 'Reliance Fresh'. By the end of 2008, Reliance retail had close to 600 stores across 57 cities in India. In 2010, Reliance entered Broadband services market with acquisition of Infotel Broadband Services Limited, which was the only successful bidder for pan-India fourthgeneration (4G) spectrum auction held by Government of India. In the same year, Reliance and BP announced a partnership in the oil and gas business. BP took a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the KG-D6 block for $7.2 billion. Reliance also formed a 50:50 joint venture with BP for sourcing and marketing of gas in India. AWARDS AND RECOGNITION
International Refiner of the Year in 2013 at the HART Energy‟s 27th World Refining & Fuel Conference. This is the second time that RIL has received this Award for its Jamnagar Refinery, the first being in 2005.
According to survey conducted by Brand Finance in 2013, Reliance is the second most valuable brand in India.
The Brand Trust Report, 2013 has ranked 'Reliance' as the 7th most trusted brand in India.
RIL was certified as 'Responsible Care Company' by the American Chemistry Council in March, 2012.
RIL was ranked at 25th position across the world, on the basis of sales, in the ICIS Top 100 Chemicals Companies list in 2012.
RIL was awarded the National Golden Peacock Award 2011 for its contribution in the field of corporate sustainability.
In 2009, Boston Consulting Group (BCG) named Reliance Industries as the world's fifth biggest 'sustainable value creator' in a list of 25 top companies globally in terms of investor returns over a decade
The company was selected as one of the world's 100 best managed companies for the year 2000 by Industry Week magazine.
From 1994 to 1997, the company won National Energy Conservation Award in the petrochemical sector
LEADERSHIP STYLE OF DHIRUBHAI AMBANI When we talk about Indian leaders one name, which we cannot miss out, is Dhirubhai Ambani. He has voyaged through a journey of rags to riches. He was born on 28th December 1932 to a local schoolteacher in a village called Chorwad, in Junagadh district, Gujarat. Dhirubhai has been an opportunist right from his childhood. All he needed was the whiff of a business opportunity and he was off to tap it. During the Mahashivratri fair, he would sell „ganthia‟ a gujaratri savoury to earn money. Due to shortage of money, he left education after matriculation and went to Aden to earn money. He worked for almost eight years in a petrol station where he learned about oil business until a day came when he was bitten by the entrepreneurial bug. He came back to Bombay to start his own business. He took a loan with which he started Reliance Commercial Corporation, which has been a stepping-stone to one of India‟s largest Corporation. They were involved in general merchandising. Dhirubhai has always shown all the critical leadership qualities. He would always grab an opportunity and strike on it. He then started his yarn business in the 60‟s and then he build his own spinning mill in 1966 known as Reliance Textile industries. He believed that if a person wants to succeed in something then he should have complete access to information on that topic. Whenever he wanted to approach the government to get licenses, information about the competitors, market size etc. he would collect all these information, no matter at what cost it came. He also believes in destiny and gives all the credit to his luck. This shows how down to earth he is. Even today he has a simple ritual of Puja when a new machine is installed. He isn‟t proud of what he is and he still believes in „Simple thinking, Modern thinking.‟ He always followed the rule to be the pioneer/first to do anything. He would just grab an opportunity that would come up because of some government policy changes and would implement it successfully. He believed not in meeting demand but in creating demand. He
always produced in large quantities. He was of the opinion that customer should be provided with best quality goods at the lowest price. Moreover Dhirubhai as opposed to most other leaders wasn‟t expert in only one field. He was a manufacturing as well a marketing whiz. He knew how to offer the right product mix, identify markets and establish viable distribution structure, which holds true for one of his famous brand Vimal. He is also referred to as „ Manchester of India.‟ He didn‟t mind copying someone else‟s idea, which he could implement better than his competitors. As in the case of copying the concept of selling through showrooms for his brand Vimal to counter the resistance from the traditional markets which he copied from Bombay Dyeing. He always had the dynamism and confidence in future and was always ready to go against all odds. He always believed in himself. He has always believed that his first responsibility is towards his company‟s shareholders and he was also concerned in protecting their interests. He also known as the „stock market messiah.‟ This is because when some Marwari clan were trying to bring down the price of his shares by short selling, he counter attacked them and in turn earned a hefty sum from them. He has always had a wide investor base and most of his subscriptions were over subscribed. He has always been an innovator in the financial market. He innovated and reintroduced successfully concepts like partial convertible bonds, fully convertible bonds etc. He has been successful in manufacturing world-class products. He always believed in „Think big, think fast and think ahead.‟ He has never had an ego problem and he knew how to get his work done from people. He was never ashamed to „salaam‟ anyone. Another incident that shows his vision as a leader is that when Reliance‟s Patalganga Complex was damaged due to floods. Technical experts from Du Pont estimated hundred days to make the complex operational but Reliance had the complete complex operational in twenty-one days. This was possible because of Dhirubhai‟s vision, his confidence, his dedication proper logistical planning and making available all resources.
Dhirubhai has always believed in picking up the best talent. They have a motivated workforce. He only believes in providing leadership, vision and strategy. He thinks that he doesn‟t run his business but his business leaders do it. Dhirubhai is criticized for manipulating the government for his benefits. Apart from that he has paid zero tax on corporate earnings for several years due to the loopholes in the system. He was also involved in manipulating the L&T board to gain control. Apart from that he was heavily criticized along with Pranab Mukherjee for buying shares under dummy companies which never existed. But be it whatever Dhirubhai is one of the greatest leaders of India who has the zeal to achieve something big rather than just earning money and the obsession to build. He wants to work till his death. As a true leader Dhirubhai had once said that, “ People think I have finally arrived but I think I have just begun.” LEADERSHIP STYLE OF ANIL AMBANI Anil Ambani is the Billionaire Indian Business Tycoon (Industrialist). He is the chairman of Reliance ADA Group having net worth of US $ 13 Billion making him India‟s top 10 richest persons according to Forbes 2010. Anil Ambani received his fortune as an inheritance when both the brothers split their father‟s empire after the death of their great father Dhirubhai Ambani. Anil Ambani received the flagship Company Reliance Communication and Reliance Energy which became Reliance ADA Group. Under his leadership, the Reliance ADA Group expended into other sectors like Entertainment, gaming, radio, Cinemas, Capital markets, Natural Resources and many others. Anil Ambani is a great leader having several leadership qualities. He provided vision to various companies of his group. He is not afraid to take calculated risks.
In fact, Anil Ambani‟s Personal Lifestyle suggests that he is a very active person and lo ves to work. He is a great leader and under his leadership, the entire group grow like anything. Reliance Capital is also planning to launch a Local Bank network in India according to RBI guidelines. He has also played a major role in Film industry by promoting Reliance Big Entertainment. Thus, overall, Anil Ambani is a great leader.
DIFFERENCE IN STYLE OF LEADERSHIP IN RELIANCE Dhirubhai Ambani has not only been a great leader but also an inspirational story for several youngsters hailing from small towns to make it big in their respective fields. Post his demise, the giant Reliance Empire was taken ahead by his two sons, Mukesh & Anil Ambani. Though both are extremely different in their approach, Reliance has spread its wings all over the world because of them. Anil Ambani, now the Chairman and Managing Director of Reliance Industries Limited, India‟s largest private sector company, has set an excellent example of being a successful leader & carrying forward the legacy of the Ambani realm. His leadership abilities were recognized by eminent bodies in the industry by felicitations like Economic Times Business Leader 2006 & CNBC-TV18 India Business Leader Awards 2007. The secret to his success was the constant need to challenge existing situations. He created an open environment so that everybody in Reliance was on the same page to come over the feudal style of management & the disruptive style of management. A true leader always believes in investing the company‟s capital on good talent. As a learner, he preached K K Malhotra, who was with them for 15 years, as his guru & had imbibed most of his current leadership abilities & best practices from him. His initiative to build India‟s largest & strongest communication network was known as Reliance Infocomm Limited (now Reliance Communications Limited). His business interests expanded to Petrochemicals, Petroleum Refining and Marketing, Textiles, Retail and SEZs. And his latest
venture in the organized retail sector with Reliance Retail by opening hundreds of stores across several states to serve diverse consumer needs and operate under various names such as Reliance Fresh, Reliance Mart and Reliance Digital. Leading the communications aspect at Reliance, he saw immense potential in the convergence of information and communication which is why they named it as Infocomm. He focused extensively on building various competencies in Reliance that would make this organization. His vision to have a chain of sectors within Reliance has strengthened his position in almost every initiative he has taken. Mukesh is known to be amongst the top ten richest men in India & had surpassed Bill Gates in 2007 to be the World‟s richest man. It was his wish that opportunities in India should not be limited to the few so that every citizen is empowered to access new generation technology & skills. He envisaged a new India on the horizon – new visionary, courageous and convincing models that are needed to progress Indian society. He always challenged the possibility to translate this vision into reality Dhirubhai Ambani has not only been a great leader but also an inspirational story for several youngsters hailing from small towns to make it big in their respective fields. Post his demise, the giant Reliance Empire was taken ahead by his two sons, Mukesh & Anil Ambani. Though both are extremely different in their approach, Reliance has spread its wings all over the world because of them.Anil Ambani, now the Chairman and Managing Director of Reliance Industries Limited, India‟s largest private sector company, has set an excellent example of being a successful leader & carrying forward the legacy of the Ambani realm. His leadership abilities were recognized by eminent bodies in the industry by felicitations like Economic Times Business Leader 2006 & CNBC-TV18 India Business Leader Awards 2007. The secret to his success was the constant need to challenge existing situations. He created an open environment so that everybody in Reliance was on the same page to come over the feudal style of management & the disruptive style of management. A true leader always believes in investing the company‟s capital on good talent. As a learner, he preached K K Malhotra, who was with them for 15 years, as his guru & had imbibed most of his current leadership abilities & best practices from him. His initiative to build India‟s largest & strongest communication network was known as Reliance Infocomm Limited (now Reliance Communications Limited). His
business interests expanded to Petrochemicals, Petroleum Refining and Marketing, Textiles, Retail and SEZs. And his latest venture in the organized retail sector with Reliance Retail by opening hundreds of stores across several states to serve diverse consumer needs and operate under various names such as Reliance Fresh, Reliance Mart and Reliance Digital.Leading the communications aspect at Reliance, he saw immense potential in the convergence of information and communication which is why they named it as Infocomm. He focused extensively on building various competencies in Reliance that would make this organization & its His vision to have a chain of sectors within Reliance has strengthened his position in almost every initiative he has taken. Anil is known to be amongst the top ten richest men in India & had surpassed Bill Gates in 2007 to be the World‟s richest man. It was his wish that opportunities in India should not be limited to the few so that every citizen is empowered to access new generation technology & skills. He envisaged a new India on the horizon – new visionary, courageous and convincing models that are needed to progress Indian society. He always challenged the possibility to translate this vision into realit.
Like the “nature versus nurture debate,” the “born versus made” leadership debate is based upon a false dichotomy. Just as genes interact with the environment to express unique physical characteristics and capabilities, so too is the quality of leadership an expression of how innate personal characteristics interact with organizational factors. Given this perspective, leadership is not regarded as the random occurrence of great men at moments in history, but rather as a network effect, the interaction of innate traits, themselves long nurtured and refined by evolutionary forces and the organizational context in which these traits are expressed. In other words, great leadership is the combination of individual traits and historical and institutional contexts. This is powerful knowledge if we can learn to identify the types of roles needed to guide a group or an organization in a certain situation, and then find the right person for the job. An important task in the coming years will be the training and testing of future leaders. The importance of capable leadership in present day business scenarios has been clearly analysed and also the leadership skills of chosen leader have been compared with the various leadership supporting theories for better understanding. The major qualities of Mr. Dhirubhai Ambani have been highlighted and the role of those qualities in making the Reliance group tremendous successful in the Indian market is discussed. The present report successfully established the fact that Mr. Dhirubhai Ambani evolved as true leader with his efficient and effective leadership
qualities. The timely decision making capability of him made the Reliance industries prime group in India. The resemblance of Dhirubhai Ambani leadership style and transactional are explained for better understanding of leadership qualities. The transformational leadership qualities are also compared to Mr. Ambani‟s qualities in order to make clear understanding of the leadership capabilities. Dhirubhai Ambani can better called as leader instead entrepreneur as the initial steps he made in the business proves to be an efficient leader and his policies which he followed gives enough strength to represent him to be a true leader of his times.
BOOKS REFERED • • Srivastava S K, Organizational Behaviour ( A Comprehensive Study), Global Vision Publishing House, New Delhi, First Edition,2010 Aquinas P G, Organizational behavior (Concepts, Realities, Applications and Challenges), Excel Books, New Delhi, First Edition, 2006
WEBLIOGRAPHY • • • smallbusiness.chron.com www.management paradise.com www.mindtools.com
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