Leadership, Teambuilding, and Communication Assignment

Leadership, Teambuilding, and Communication - Assignment Example On the other hand, leaders work hand in hand with others to achieve objectives of the company. However, by combining these two aspects, it is possible to help employees overcome the challenges they face and increase the company’s production (Northouse, 2010). This study will use Wells Fargo Company as a sample company to explain the importance of good leadership and management skills towards company’s production. Wells Fargo is American international banking and financial institution, which operates around the world. This company is ranked the fourth largest bank in America. The Company has highly qualified managers with good management skills thus increasing the production of the company. These good management skills also enable the company to attract and maintain more customers. Good leadership skills also ensure employees experience a favorable working environment hence enabling the company retains highly qualified employees. Leadership theories Leadership interest i ncreased during early twentieth century, and this led to the realization of leadership theories. These theories are into two categories. The first category is early leadership theories focus on the qualities distinguishing leaders and followers while the second category, which are subsequent theories, focus on variables such as situational factors and skills. The followings are some of the major theories used by many companies like Wells Fargo to ensure good leadership in achieving the goals of the company. Great Man Theories The great man theories assume that good leadership skills are inherent thus great leaders are bone but not made. These theories portray that good leaders are heroic, mythic, and have the destiny to rise to leadership when requested. The term â€Å"great men† was important because during the twentieth century leadership was mainly associated with men especially in military forces. According to methodologies of some of the world’s famous leaders, th e great man theories contributes to the idea that people with great leadership skills are bone and not made. Many researches show that people with good leadership skills seem to emerge magically to lead and control other workers to success. Many people today support these theories claiming that prominent leaders inherit the good qualities and personalities, which make them perfect leaders. Trait Theories Trait theories are similar to great men theories because they assume that people inherit certain leadership skills and traits to make them better fitting to management. Trait Theories seem to be confusing because if certain traits are the key feature of leadership, then where do we place those people who posses these traits but are not leaders. Unlike other theories, trait theories focus on differences between individuals personalities. Trait theories define the uniqueness in individual personality as a combination and interaction of various traits. Classification of individual trai ts is in three levels namely Cardinal traits, Central traits, and Secondary traits. Contingency Theories Contingency theories of leadership concentrate on certain leadership variables relating to the environment that determine which form of leadership is paramount for the situation. These theories claim that each leadership style is best for a