Leadership And Management Mechanisms For Achieving Financial Sustainability In Organizations

Reason for Conducting Research

Discuss about the Leadership and Management mechanism to achieve an organisation’s financial sustainability.

This study deals with the research about the relationship between the leadership and the finance sustainability in the organizations. The organization operates for the long term by the effective leadership and management. The management is the formal characteristics in the organization for the maintenance of the firm. The leadership remains the hierarchical tree of control of the organization where the management of the firm takes place as per the leadership. The management and the leadership terms are similar and difficult to identify. Management deals with the functions of the work where the resources are managed by other resource. Leadership relates to the functions of the positions and the power or control as per the positions to administrate the resources accordance to the hierarchical levels. This study focuses on the research about the leadership and their significance over the financial sustainability in the firm.

The main reason of conducting the research is to know about the leadership impacts over the financial sustainability in the companies. The company usually engages the resources to work for the completion of activities associated with the production. However, to manage the resources, Manager and other supervisor authorities are present in the company. Though these resources and managers are present in the firm, the firm requires effective leadership to make the business expansion, continuity with the finance sustainability and efficient decision-making. If the firms do not give importance to the leadership among the resources, the firm will fall into the great problems in business loss and eventually lose themselves without finance stability. Hence, there is a need to research about the relationship between the leadership with that of the organization in finance sustainability, how they are related, what factors are serving as connecting factors for their relationship between the two (Aras, G. and Crowther, D., 2008).

This research will help the firms to know about the leadership and their significance over the firms. The leadership is one of the important qualities that support the firm to build the resources in hierarchical way and the reporting is made as per the hierarchy. Apart from these activities, the leadership consists of the technical skills, interpersonal skills, and decision making skills. In the organizational levels, these skills are mandatory as they support developing these skills among the resources. The research about the leadership in this study gives both significance for the academics and society. In academic wise, the significance includes the analysis of the leadership and their dependencies to the resources in making them fit to the company with the skills. In society, the significance includes the establishment of the organization with the leadership. This study specifies clearly about the requirement of the research for the leadership in organization context for successful business and finance (D. Banker, R., et.al, 2014).

Academic and Societal Significance of the Research

Various firms fail in the business due to inappropriate leadership skills and lack of managerial leadership. This is because of the fact that the organization has no focus upon the leadership qualities and skills for the resources and business growth. In this research, the knowledge and implementation of the leadership within an organization is measured and the issues such as the gaps inside the organization in management are considered. The research provides the relationship between the leadership and the finance sustainability. In this research, the leadership qualities, skills, their relations to the firm support identifying the growth factors to the finance sustainability in the firm (Lakomski, G., 2005).

The research is conducted in the organization to determine the presence of the leadership and their influence over the management. The organization will follow certain policies and standards for the leadership and management. These policies and standards are needed to be assessed. The finance sustainability for the organization is determined by considering the past data of finance collected from finance reports along with the employment (Werhane, P.H. and Painter-Morland, M., 2011).

During the research, there required observation for the factors or issues that affect the leadership. The observations over the leadership will lead to figure out the issues such as the gaps in the organization without the implementation of the leadership and managerial skills. These kinds of the issues, which influence the leadership, will reflect failure for the finance in the firm that will lead to affect the firm (Lourenço, I.C. et.al, 2014). In some firms, there will be discrimination between the diverse culture among the leaders (Roberson, Q.M. and Park, H.J., 2007). This research derives such gaps and issues.

Research questions about the leadership and financial sustainability in the organizations

The research questions about the leadership and financial sustainability in the organizations are as follows:

Is there any significant difference between the leadership and finance growth in the firm?

Is there any relationship exists between the leadership and finance sustainability in the firm?

What kind of relationship exists between the leadership and finance sustainability in the firm?

Will leadership qualities influence the finance of the firm?

The research adopted by the methodology involves various steps such as the planning of the research, initiation of the requirements, preparation of the questionnaire to the participants in the organization to assess about the leadership skills, collection of the responses, collection of the finance data of the company, secondary research is conducted by performing analysis.

Research Specifications and Related Issues

During analysis, the variables related to the responses regarding the leadership of the company is analyzed and correlated against the finance data. From the results, the answers to the research questions are easily determined.

The methods adopted for carrying out the research involve the following phases:

• Literature review
• Research planning
• Primary research
• Secondary research
• Statistical Inferences
• Interpretations

The leadership and their related research sources will provide the clear results about their requirements, issues associated with the firm, and significance of these skills with the firm.

In this research planning, the company to be visited for conducting research need to be planned. After selection of the company to be researched, the research questions are framed to figure out the answers.

The primary research is conducted by the use of survey among the resources within the firm or using the public data sources about the company. The survey is conducted by using the online questionnaire instruments, which comprise the questions focusing about the collection of the data.

The questionnaire consists of the questions, which is “Yes” or “No” type of questions. The responses are collected from the resources easily. 15 questions target about the leadership and management. The responses are received appropriately and are used for secondary research.

From the data collected from the primary research, the responses are utilized for the secondary research involving the data analysis. Using appropriate software, response data are analysed by using relevant statistical techniques. The statistical techniques for analysis of the data will result to provide the accurate results, which are the answers to the research questions.

Each of the statistical inferences will give the results that are interpreted further for the analysis.

The research is not a single task of work to be completed as a single effort without schedules. The research involves the multiple stages of activities, which require individual timelines for the accomplishment of the task.

In this research, the duration and timelines are scheduled as follows:

The below Gantt Chart shows the anticipated timelines for the completion of the entire research program.

The resources are the materials that are required in the project, which may include any kind of the equipments, materials, even resources who are involved in the project, software, or hardware in the project. These resources are very important in the research, as the research requires several resources in the execution. The resources, which involve in the research, include the software, materials used in the research, and all other important sources.

Resources such as the software for performing the data analysis are required mandatory. The other materials used in the research include the use of the systems or computers for research, travelling or visiting companies to carry out research especially in data collection.

Conclusion

Thus, the research proposal is discussed with the mandatory steps for the research. By this research, the leadership skills and qualities required for the firm are correlated to the financial sustainability of the organization.

References

Aras, G. and Crowther, D., 2008. Governance and sustainability: An investigation into the relationship between corporate governance and corporate sustainability. Management Decision, 46(3), pp.433-448.

Banker, R., Mashruwala, R. and Tripathy, A., 2014. Does a differentiation strategy lead to more sustainable financial performance than a cost leadership strategy?. Management Decision, 52(5), pp.872-896.

Lakomski, G., 2005. Managing without leadership: Towards a theory of organizational functioning.

Lourenço, I.C., Callen, J.L., Branco, M.C. and Curto, J.D., 2014. The value relevance of reputation for sustainability leadership. Journal of Business Ethics, 119(1), pp.17-28.

Roberson, Q.M. and Park, H.J., 2007. Examining the link between diversity and firm performance: The effects of diversity reputation and leader racial diversity. Group & Organization Management, 32(5), pp.548-568.

Werhane, P.H. and Painter-Morland, M., 2011. Leadership, gender, and organization. In Leadership, gender, and organization (pp. 1-8). Springer, Dordrecht.

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