This is a guest post by Alice Morey. She is a professor majoring in finance field. She teaches finance and economics courses at University of East London, UK. She also writes, blogs and is a regular contributor to youth and leadership programs. In addition to her teaching and writing, she is a seasonal writer at “Courseworkhome” to assist students in their academic coursework.
Leadership can be reflected as a method whereby one influences the others. In the course of business, leaders show multiple leadership styles depending on the situation they are experiencing.
It is argued that leaders have both authority (the right to influence) and power (the ability to work). One without the other is never suitable.
Authority develops from an individual’s position in an organizational structure, authority limits and the operation of the law. While, power can arise from the following sources;
- Rational-legal: the manager may exercise his/her power because of the title “senior manager” and individuals below him are supposed to carry out his instructions.
- Charismatic: where the person has great charm and force or personality.
- Reward power: where the promise of pay increases or promotions are used.
- Knowledge: where withholding and releasing knowledge selectively utilizes power.
- Coercion: through physical power, this is seldom to be seen in modern organizations.