Global Financail Turmoil

According to the Federal Express Leadership qualities, now I will discuss about Don Less attributes. He has Charismatic and other forms of personal power in his leadership role.

He also individual consideration for his employee, he spends one on one time with employee difficult situation and share with as the firm continues to grow, meeting employees basic needs, opportunity to their exercise their creativity, flexibility work schedules, give them holiday vacation time, sick leave, Encourage to learn new software, integrity and judgment valuation, employees are also given the opportunity to showcase their individual skills and leadership abilities after all employee and himself respect for others.

According to Schoemaker (2008) All companies, and multinationals in particular, should be prepared to withstand global turmoil. Unfortunately, many are not. Traditional forecasting and budgeting systems produce linear projections insufficient for risky, uncertain times. What's needed is scenario planning, where companies stress-test their strategies and processes against a wide range of future scenarios to identify their vulnerabilities. Thus informed, the companies can adjust them to be more responsive and resilient.

But scenario planning often takes a backseat to more immediate concerns: developing new products, fighting an aggressive competitor, meeting earnings targets. So when large-scale external events hit, their impact is seismic... Flexibility is the key to dealing with turmoil. From case study we can see that Don Lee has good relation with employee, they respected his command of technical issues, he has spiritual awakening ,position power and also try to find out employees creativity.

The Horizons and for its employee totally flexibility. This is the greatest strenght for the Horzions in the Golobal Financial turmoil we can see that only those company who make creativity things and providing his customers designable product, changing their emotional atmosphere those companya are the success on this golabal turmoil time. Leadership theories, based on particular types of behaviour, have been a more appropriate approach in understanding how to exercise influence within organizations. BRIEFLY OF LEADERSHIP THEORY

A review of the leadership literature reveals an evolving series of 'schools of thought' from "Great Man" and "Trait" theories to "Transformational" leadership (see table). Whilst early theories tend to focus upon the characteristics and behaviours of successful leaders, later theories begin to consider the role of followers and the contextual nature of leadership. ( Bolden et al. ,2003) Great Man Theories Based on the belief that leaders are exceptional people, born with innate qualities, destined to lead.

The use of the term 'man' was intentional since until the latter part of the twentieth century leadership was thought of as a concept which is primarily male, military and Western. This led to the next school of Trait Theories Trait Theories The lists of traits or qualities associated with leadership exist in abundance and continue to be produced. They draw on virtually all the adjectives in the dictionary which describe some positive or virtuous human attribute, from ambition to zest for life Behaviourist Theories

These concentrate on what leaders actually do rather than on their qualities. Different patterns of behaviour are observed and categorised as 'styles of leadership'. This area has probably attracted most attention from practising managers Situational Leadership This approach sees leadership as specific to the situation in which it is being exercised. For example, whilst some situations may require an autocratic style, others may need a more participative approach. It also proposes that there may be differences in required leadership styles at different levels in the same organisation

Contingency Theory This is a refinement of the situational viewpoint and focuses on identifying the situational variables which best predict the most appropriate or effective leadership style to fit the particular circumstances Transactional Theory This approach emphasises the importance of the relationship between leader and followers, focusing on the mutual benefits derived from a form of 'contract' through which the leader delivers such things as rewards or recognition in return for the commitment or loyalty of the followers

Transformational Theory The central concept here is change and the role of leadership in envisioning and implementing the transformation of organisational performance Effective Leadership on the Financial Turmoil for Horizon's: Many scholars agree with (Gamage, 2006;cited by Fiedler, 1967) that the particular leadership style of the leader and/ or manger is likely to depend on the situation. Fiedler described three elements of a situation i. e. status, leader-member relations, and task structure.

The current situation is that financial turmoil and the Don Lee's first and foremost duties is that to manage financial turmoil for keep company's continues growth stage and use the appropriate leadership theories and model to recover the present financial emergency. According to the Cline (2009) The global financial crisis of 2008-09 is a watershed event that cries out for a reexamination not only of industrial countries' financial systems but also of growth strategies in developing countries.

I will argue that The worst of the crisis is over, and that the developing countries are emerging with less damage than in the debt crisis of the 1980s, for Latin America, and the financial crisis of the late 1990s, for East Asia. Nonetheless, serious fiscal challenges will confront the industrial countries in the coming years, as a consequence of bailout costs and recessionary fiscal losses.

We can see the case study Don Lee has successfully led Horizon for the last 20 years, that means according to the Cline(2009) there was a financial crisis in late 1990 which was Don Lee already conquered financial crises at the beginning of his leadership time. In this sense, I think that if Don Lee contingency theories for the present, 2009-10 financial crisis, he might be managed new global financial hit. Because Contingency theory is a leader-match theory (Northouse,2009;cited by Fiedler & Chemers, 1974), which means it tries to match leader to appropriate situations.

It is called contingency because it suggests that a leader's effectiveness depends on how well the leader's style fits the context. To understand the performance of leaders, it is essential to understand the situation in which they lead. Effective leadership is contingent on matching a leader style to the right setting. Don Lee is the fit for this leadership and he can easily recover the situation with good performance with his previous experience. Is it appropriate for Horizon's now contingency Theory?

: A system of interrelated behaviours of people who are performing a task that has been differentiated into several distinct subsystems, each subsystem performing a porting of the task, and the efforts of each being integrated to achieve effective performance of the system. ( Miner,2007;cited by Lawrence and Lorsch,1967) , Now firstly Horizon's only one task is that to save from sink of financial crisis. Contingency theory is appropriate for now Don Lee. Contingencey Model

I believe that Don lee follow the contingencey (Figure:1. 0) model and this model is appropiate for reevaluation of global financial turmoil . (Stewart Associates,2010) In this model leadership is effective when the leader's style is appropriate to the situation, as determined by three principal factors: 1. Leader-member relations: The nature of the interpersonal relationship between leader and follower, expressed in terms of good through poor, with qualifying modifiers attached as necessary.

It is obvious that the leader's personality and the personalities of subordinates play important roles in this variable. 2. Task structure: The nature of the subordinate's task, described as structured or unstructured, associated with the amount of creative freedom allowed the subordinate to accomplish the task, and how the task is defined. 3. Position power: The degree to which the position itself enables the leader to get the group members to comply with and accept his or her direction and leadership.