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The Relationship Between Leadership and Integrity
Importance of integrity in leadership
The relationship between leadership and integrity
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Business executive Kenneth Chenault has mandated the American Express financial services company for over a decade. Since 1981, Chenault has thrived within the Amex Company while maneuvering the company’s dynamics and withstanding his position in the depths of the economic financial crisis after 9/11. Chenault’s many great experiences and hardships have allowed him to become one of the world’s most prominent leaders, who runs one of the world’s most influential businesses.
Kenneth Chenault graduated from Harvard Law School with his Juris Doctorate in 1976. Proceeding his graduation at Harvard, Chenault began his legal career at Rogers and Wells as an associate in New York City. In just 5 years Kenneth Chenault moved to the American Express
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He wishes to own one of the most successful companies financially, and to have one of the most respected and admired companies in the world. To accomplish this he believes the company has to focus on making a difference within our society today. He believes the company will thrive by focusing on their successful financial services as well as becoming an admirable company for the opportunities they give to their workers, non-for-profit organizations, and focusing on education to bring about change. Being number 11 on “Worlds Most Admired Companies” CEO, Kenneth Chenault has had success with reaching this …show more content…
He believes that to have great integrity one should practice more than honesty. He believes that one should remain consistent within their leadership. This will show the team that the leader is trustworthy and reliable. Chenault believes that a leader should always possess courage. He understands that challenges happen, but they are not impossible challenges to overcome. Chenault believes good leaders must have the courage to question the status quo and possess execution skills intelligence. This shows that one can execute a plan and demonstrates commitment which will contribute to a team’s success. Along with these traits, he believes that adaptability, and being compassionate with decisiveness makes a person a good leader. His definition of a good leader manifests the leader he is today within the American express company. American Express has been on the Fortune 500 list for 22 years. As of late, the company ranks number 85 within the top 20 percentile. Chenault’s financial feats include earning a total compensation of $50,126,585 and $42,752,461 in 2007 and 2008. Chenault being awarded 18.5 million dollars in compensation in 2015, and receiving 25.1 million in total compensation in 2014 he has been one of the financial services highest paid CEO’s in
House of Cards describes in particular the complicated series of events that led to the downfall of Bear Sterns in March 2008. Its actual appeal, however, deduces from its complete and careful analysis of the history of the firm since its origination as an upstart brokerage firm in 1923 and a gripping account of the demise of Bear Sterns in 2007. This failure prognosticated a lot of issues that would eventually stultify the firm, and the author puts forward that its deviation from various historical operating practices led to its ultimate sale to JPMorgan Chase at $10 per share, down from over $170 just a year earlier.
One may wonder exactly what it is that qualities a strong leader possesses. A strong leader is determined, and strong willed. They must be of good judgment, and without bias. They cannot easily be persuaded, and they are firm, yet at the same time, a good lead must also empathize with his subordinates, and have the best interest at heart for said subordinates, at all times. However, with that being said, a good leader cannot be afraid to discipline his subordinates when necessary. Unmistakably, being a leader is a very difficult feat – one which not everyone can accomplish. A leader must be an authority, a friend and a counsellor, all at once. They must be responsible, and always take into account the disadvantages of a situation. Not everyone is suitable to be a leader, whereas, just about anybody can be a good role model.
To be a great leader there are many qualities you must have. The hard part is actually knowing what qualities you need, because their are different types of leaders. For example you might be a business leader. These leaders do everything they can to motivate their co-workers, make sure the business stays firm, and also are well prepared for any crises that may occur. Anne Mulcahy the CEO of Xerox surely didn’t know her business was going to undertake many financial barriers, but instead of letting it get her and filing for bankruptcy, she took full responsibility and lead the business towards success by reducing the company’s workforce and eliminating the entire desktop portion of Xeron. According to U.S. News &
There are lot of theories and opinions about what makes a good leader. People who want to become a good leader not only have to have the will to take on the job, but they need to have certain traits and qualities that are characteristic of a good leader. The trait theory of leadership supports this claim that some people are endowed with certain characteristics that make them more capable of being a good leader than others. Many leaders and researchers have come up with certain traits that make people great leaders, whether it is being a leader in a business, organization or a leader of a sports team.
Leadership is a complex process with many different approaches. This is a summary of the leadership literature including the pros and cons of each approach. The trait approach implies successful leaders are born with those traits. This theory focuses on identifying certain traits that make people great leaders. Some of the major leadership traits identified in the trait approach are intelligence, self-confidence, determination, integrity, and social ability. There are many advantages to the trait approach. “First, it is intuitively appealing because it fits clearly into the popular idea that leaders are special people who are out front, leading ...
Great “leaders are made, not born” (Skrhak, 2014). A great leader motivates and influences a team to reach seemingly impossible goals. A great leader has a compelling sense of purpose and duty. Great leaders portray excellence and in return they expect no less than excellence. An effective and great leader is not defined by only personality, but by their values, ability and skills, and leadership style.
Leadership is all about power and influence. Leaders use their power to get goals accomplished. A simple distinction is between two forms of power. Socialized power is used to benefits others and fulfill their needs. The other form is personalized power, power that is used strictly for personal gain. These two forms are not mutually exclusive, a leader can use their power to benefit society but also gain personally. However, leaders can become intoxicated by their power, engaging in unjust behavior simply because they have the power to and will get away with it. They focus on their own desires and are less able to see others' perspectives. A good leader should have good qualities to represent. Some of these qualities include honesty, their business and it's society are a reflection of their leader, having honest and ethical behavior and making it a key value will result in the team following that behavior. Another important quality is communication, being able to clearly describe what is needed to be done is crucial. If they can't relate their vision to their followers, they ...
CEO compensation has been a heated debate for many years recently, and it can be argued that they are either overpaid or that there payment is justified by the amount of work they do and their performance. To answer the question about whether CEO compensation is justified it must be looked at by the utilitarian viewpoint where the good of many outweighs the good of one. It is true that many CEO’s are paid an exorbitant amount of money; however, their payment is justified by the amount of money that they bring back to the company and the shareholders. There are many factors that impact the pay that the CEO receives according to Shah et.al CEO compensation relies on more than just the performance of the CEO, there are a number of factors that play a rule in the compensation of the CEO including the fellow people who help govern the corporation (Board of Directors, Audit Committee), the size of the company, and the performance that the CEO accomplishes (2009). In this paper the focus will be on the performace aspect of the CEO.
The famous political philosopher C. Wright Mills believed that in the United States the main power was concentrated in the hands of certain powerful people. Mills called these people “the power elite”. For him, “the power elite” were those who occupied “the dominant positions in the dominant institutions”. The model can be applicable to the Russian political system. Even though Russia is officially called a democratic country, it is necessary to look behind the rhetoric. There is a certain number of people in Russia whose power is much greater in comparison with the power of general masses. These people control a whole economic process, mass media, educational institutions and even election processes. In this essay, the relevance of Mills’
Going based off of the letter wrote to his share holders in 1991 Warren Buffett explains the company 's financial status for the year: "our gain in net worth during 1991 was $2.1 billion, or 39.6%. Over the last 27 years (that is, since present management took over) our per-share book value has grown from $19 to $6,437, or at a rate of 23.7% compounded annually." (Buffett). After conducting an STP analysis of the company I was better able to understand why the company has managed to remain top of the game. Their segment includes enterprises and individuals who seek financial help or advice . The target group that the company focuses on are large enterprises and rich individual investors. The company 's positioning stands at being a financial institution which makes every process of a transaction
The “one-firm culture” needed to unify Institutional Securities, Asset management, Retail Brokerage and Discover Card services. The synthesis of Morgan Stanley (SM) and Dean Witter needed to overcome the perception that former Dean Witter employees were second class compared to former Morgan Stanley employees. To do this Mack first tackled the technological divide to remove the disparity and integrate the different systems. To boost the one-firm culture “Mack altered the firm's compensation scheme in favor of an equity ownership structure” (Cullen, 2003). Mack himself receives over half of his $1.6+ million salary in equity (Forbes , 2007). To reduce the me-only culture Mach also holds people accountable, removes intransigent unproductive employees, empowers young people and encourages risk (Cullen, 2003). In 2007 Mack spun off Discover Card services in accordance with Purcell’s 2005 plan (Morgan Stanley, 2005). Mack’s risk taking rewarded the company with huge profits from sub-prime investments in 2006, with Mack pocketing $40 million in bonuses. Mack did not return those bonuses in 2007 when subprime losses of $11 billion hit SM (Colarusso, 2008). Zoe Cruz took the fall (Barn...
Honesty and integrity are the two most important characteristics for leadership success in any work place. The foundation of any relationship is honesty. To be a good leader, one must be honest. My goal is to create a workplace that every people can trust me and I can trust them so that we work together for a common goal. I would like to be a trusted leader because I am sure this characteristic will bring Done Right and On Time result in my career.
Many Scholars characterize the core qualities and skills necessary for an effective leader. Useem defines leadership as “Creating a vision and translating that vision into actions”. Historically, an effective leader was assumed to be exceptionally knowledgeable, authoritative, and dominate. Those leaders applied the command and control method to lead an organization. With the passage of time, this definition has been changed. The modern definition of an effective leader is honest, courageous, trustworthy, inspirational, and result-oriented. Today’s leaders create shared values and vision, and empower others to achieve their targets.
Traits of a good leader are trustworthiness, respectfulness, honesty, and be stern. When you have leaders that take their role seriously, you can form a backbone to an organization that cannot be broken. You have born leaders and you have trained leaders. Martin Luther King was a natural born leader for the Civil Rights movement. King saw there was something that needed to be changed and he took the steps to change the world.