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ssignment is highlighting the theory of seven theories of leadership mindsets based on an organization

Home, - REPORT ON ORGANISATION AND SECTOR LEADERSHIP

Introduction

Sovereign wealth fund business has created a huge market in the world economy. Some theories that are based on the sector leadership are identified by the various market specialists. This assignment is highlighting the theory of seven theories of leadership mindsets based on an organization named State General Reserve Fund and the positive and negative outcomes for implementing these mindsets. Also, discussing the difference of SGRF with various other companies. The company of State General Reserve Fund founded in the year 1980. This company based in Oman. This is a supreme wealth fund company of Oman, and this company gets its desirable oil revenues from the channels of Oman Sultanate.

2.0 Discussion 

2.1 The seven structures and the systems presented in State General Reserve Fund:

Vision and foresight 

State General Reserve Fund has a vision on how to develop the business and the management of State General Reserve Fund have the ability to assume the future that what will happen and needed in the future. All the leaders in a particular organisation have a planning about where their organisation is going. It includes those type visions driving the success of the team or the organisation. 

Learning and traits: The distinguishing quality and the characteristics of the company is best among the others.  The leaders from the State General Reserve Fund have the ability of learning because good leaders never stop learning. After becoming the lead management process, when someone thinks about there is nothing unknown to him or he/she knows everything, they are wrong. 

Sharing the knowledge:  

Sharing knowledge is the best method to increase the knowledge about the market. The employees of State General Reserve Fund are very supportive of sharing knowledge. For obtaining the organisation success sharing knowledge is the best method. Encouraging free thinking and provide constant opportunities based on the sharing of knowledge. 

Communication skills: Communication skills are one of the essential ability based on the mindset theories of leadership that occurs in the process of team management. The powers of communications come from someone himself or herself at first because communication is the process of self-awareness. Also, the other person that are the audiences should be understood well as the communication process will be going with them. The requirements of the communication process should be specific, direct and clear. A person should be respectful and positive towards the audience, and the communication should be consists of nonverbal communication. Also, a communicator should be listening more than speaking.

Proper judgment: The most important role of the leader is making appropriate judgments. These judgments should be good for all employees of that particular organisation. As good as a manner to extract the desired outcomes. All the judgments should be informed well to all the employees. Some new decisions have to be taken on that judgment. The management of the organisation is dependent on the good judgment ability of a person. The management person is taking a bad judgment then every failure matters on it.

Decision making: The organisation should be progressed on the proper decision on the proper judgment that is taken by the management. The establishment of a good business is based on the decision making policy that is done by the management. The leader of an organisation should be called a great decision maker when he or she makes a perfect balance of emotion with a proper reason. That trick of balancing should be made by every organisation that is in business. This decision will make an impact on the stakeholders, to the customers, to the employees and also on the management of the organisation. The decisions should be challenging to every corner of the organisation to extract a positive outcome for the organisation. The decisions must be made quickly with all the pieces of information that are available at handy.

Teamwork: The last but not the least component of successful leadership theory is teamwork. An organisation can't be a success without the proper execution of work as a team depending on the decisions taken by the management (hbr.org, 2018).

2.2 Analyzing and describing how the present leadership value systems and structures impact on management, leadership and staff of SGRF 

The above seven leadership values are being imported in the State General Reserve Fund and help to generate a positive view on how the business is going. Through applications of leadership approaching towards the organisation, it helps to grow the organisation. The power of vision and foresight should be evaluated on the organisational system as per the procedure. The future of the organisation depended on how foresight is being applied to that particular organisation. Also, strategic management is the main responsible authority for the foresight. Learning and traits are best achieved by the management of the organisation. A management person should always be faithful to learning for increasing his or her knowledge power (Meuser et al. 2016). Power of knowledge never stops by obtaining a higher post or a good post. After obtaining the knowledge, it must be shared among others to present the knowledge to the whole team. This must be obtained by sharing of information through a good communication skill. This also is obliged in a good manner. The management of SGRF is also capable of making a proper judgment. That is the main reason for the growth of the SGRF organisation. A proper judgement of policies always depends on the right amount of the decision-making process. The appropriate decision made by the organisation carries some positive outcomes between the customers, the stakeholders, the customers and the employees of the organisation (Buchanan, 2017).

2.3 Analysing and considering different global or local competitors of SGRF 

A number of companies also does the same job as SGRF such as the Global Pension Fund of the Government of Norway, The Investment Authority of Abu Dhabi, Chinese Investment Corporation, Investment Authority of Kuwait, Foreign Holdings of SAMA, the Exchange Fund of Hong Kong and the investment company of SAFE (Bushe, 2016) [Referred to appendix 1]

The blue is the major color of SGRF which states that the company worked in order where all oil is exported in certain procedure and quality of the products are excellent. Therefore, they are one of the famous oil transport company of Oman. As opined by Houwelingen et al. (2015), another very important color they show is orange where they are focused on the future and like innovation as well as technology. The main aim of the company is to retain the economic stability of Oman and also develop sustainably. According to Beck and Cowan, (2014), another important color they show is green where they value the trust of the people and they communicate with the society for improvement. 

The blue is more noticeable in this Global Pension Fund of the Government of Norway as they are governed by the government of Norway. They also show the color red as they are very dominating the Norway by helping them while managing the assets and revenue of the country. They also show the color blue as they allow converting the assets of oil into a investment portfolio and manage the funds systematically (Dinh et al. 2014). They also developed some policies which in turn maximize the public impact.  

2.4 Considering the extension of positive points of these differences and negative traits of the organisation 

Depending on the difference that is the main focus of the different organisation have both negative and positive values. The differences with various organisation make a competitive environment towards achieving the organisation goals. SRGS being a leading wealth fund company of Oman are faster to acquiring these leadership components very rapid manners. The other wealth fund companies such as Investing Authority of Abu Dhabi or Foreign Holdings of SAMA are lacking proper decision making policy or the learning ability of the management. These negative traits of those organisation results decrease on their investment fund of sovereign wealth (Houwelingen et al. 2015).

3.0 Critically analyzing the sectors developed in State General Reserve Fund

How is the wealth fund sector evolved 

There are many competitors of SGRF present in the market worldwide. SGRF being a company based on wealth fund policy on sovereign investment. An investment fund that is owned by a state is investing in various types of financial assets in real. In addition to the financial assets can also include private funds related to hedge and equity (Dinh et al. 2014). As the investment process in a sovereign wealth fund companies happens globally, commodity exported revenues fund the wealth funds. Also, reserves that is dependent on the foreign exchange policy of the centralised bank. The fund of the centralised bank gathering the increasing number of investment. These investments increased the scope of management of the banking system nationally. These funds help for a major investment of fiscal and economic basis. All these things are represented by the monetary authorities. So, in this way, the wealth fund sector is evolved (Spray, 2017).

 In what way the competitors of SGRF differed 

The services provided by the competitors of SGRF are different. Although all the companies are in the same business that is wealth fund, all the things like real estates, stocks or exchanging of precious metals are not done by all the companies. The processing of business is different from various companies. Like the way of doing a business of SGRF is very different than the Global Pension Fund of Norway. (Egel, 2017).

Considering the extension of positive points of these differences and negative traits of the organisation

The difference on the business model or in the business policy indicates the positive outcome of SGRF than other organisations of a similar manner. SGRF business model dependent on the seven leadership theory. The leadership theory dependent on the decision making thus made the services of SGRF better than other organisations. Only there is some restriction about how to implement it through the right decision that depends on the proper judgment. SGRF management people may take some extra time to think about the right choices that change the time of implementation of the strategic decision. The different policies of leadership are being implemented on the private sector of wealth fund (Felício et al. 2016) [Referred to appendix 2].

4.0 The growth and transformation of State General Reserve Fund

4.1 The kind of changes taking place in the wealth fund sector and SGRF embracing the changes to deliver continued success

The business model of SGRF is changed every year to cope up with the customer demand and satisfaction. The changes are done by the management level of SGRF that are recommended after observing the various demand of the customers. A plan is for creating new wealth fund also being discussed in the year 2017. SGRF is being positive towards the change and welcomes the changes. Such a proposal of extending the wealth fund helps to attract more direct investment from foreign countries. New laws are being created to match up the requirements and for preparing a new wealth fund (Felício et al. 2015). Many improvements are seen in the wealth fund of a sovereign in the year 2017 that was very creative and innovative. This strategy is directly copied by SGRF. SGRF has focused on the industry insights for promoting national agendas and goals apart from focusing the financial returns investment.. Strategic involvement is being the key factor for solving the corporate wrongdoings. (Ho, 2015).

4.2 To what extent SGRF is at the forefront of this transformation

SGRF is welcoming the changes that are being discussed about the new implementation of sovereign wealth fund. The management team of SGRF understands properly about the pros and cons of implementing new wealth fund. The pros are the direct investments from foreign countries. After the investment, the amount of business will surely go up (Tideman, 2016). The cons are that this changing will include more companies in the field of wealth fund and the competitors will surely increase. SGRF team is monitoring an institutional portfolio globally. The securities tracker and the monitoring services are informing the clients of SGRF. The claiming by the clients and events potentially affects the assets of SGRF. After adding a new resource in wealth fund, the employees' structure is the main point to change in SGRF. The proposed law that is being written to cope up with the new rules of sovereign wealth fund is based on the different feedback from the employees faced in their daily life. SGRF management discusses various business issues with various finance heads all over the world. The employees of SGRF are being taught the new set of laws nowadays. SGRF is holding the most important place for such a drastic change in the world economic structure. With comparison to other companies, they are lagged much behind than SGRF for implementing those changes (sgrf.gov.om, 2018).

5.0 Identifying the problems and challenges faced by State General Reserve Fund and evaluation

There are various issues which are being by State General Reserve Fund in types of leadership and management. The issues are External Challenges and Internal Challenges. These two challenges are affecting the overall leadership of the State General Reserve Fund in a varied way.  

Internals Challenges: Internal challenges are considered one of the biggest challenges in the leadership style of State General Reserve Fund. It generally constitutes of personal issues that are generally prevented from the exercising of leadership. Employees who are able to control the bad situation in their personal life they are very much strong to handle the problem. But some employees are present there who are not able to control their personal problem during their working hours. Therefore company has to give cost over the lack of their duties. During the recruitment process the new employees have to be introduced not to represent their personal problems in their office hours.  The challenges which are being faced are from the employees who are working inside the organisation. (sgrf.gov.om, 2018). 

5.1 Internal Challenges

Insecurities in Leadership styles: There are various insecurities which are being carried by leaders inside the concerned organisation. These insecurities are being flowed to the other members or employers of the organisation. These make a huge conflict inside the organisation (sgrf.gov.om, 2018). 

Defensiveness in Leadership styles: The leaders often become defensive. To save themselves from any mishaps, they try to denote other employees. This kinds of nature catalyse internal conflict.

Lack of taking the proper decision: 

The leaders who are present in the State General Reserve Fund lacks proper taking and implementing of decisions. This is creating a mess in the organisational work as well as influencing internal conflict. 

Lack of proper direction at times of problem:

In every time, the organisation or the employers seek problems, and it is the leaders who show proper direction. But in the case of State General Reserve Fund, the leaders mostly lack proper knowledge of direction (Ho and Odom, 2015). 

Proper inability to be objective:

The leaders lack proper objectivity towards a certain goal. This intends to have an improper management or leadership system inside the organisation. 

Lack of patience:

The leaders lack the proper amount of patience to deal with various situations. These are often creating issues inside the organisation (sgrf.gov.om, 2018). 

These are the basic problems which are being faced by the State General Reserve Fund. Therefore such problems are leading to a huge inefficiency in work. 

5.2 External Challenges

There are various external challenges which are being faced by the concerned organisation. They are like various public criticisms which affect the mission of State General Reserve Fund. There are various flare-ups of interpersonal issues which come as an externals challenge in the organisation. There is a crisis which mainly comes from finances, programs, politics, public relation, spiritual issues, and other legal concerns. The disasters are not always related climatic one but also external organisational ties and bonding (Tideman, 2016). There are various powerful forces which come from the external stakeholders and other powerful groups. The financial or various political windfalls are also a part of such external challenges that are being currently faced. Lastly, ineffective collaboration is also leading to improper management functions both within and outside the organisation. (sgrf.gov.om, 2018). 

b) There are various key steps the organization’s needs to take so that such internal and external problems are being solved. The key steps include in maintaining the internal challenges are:

5.3 Internal Challenges: 

Listening: There is a need for proper listening to the problems which are going on inside the concerned organisation. Proper listening will yield in proper curing of the problems in an effective way (Dinh et al. 2014). 

Asking for 360-degree feedback and using of it: The employers should be asked to give feedback on the current leadership styles which are being carried on. 

Checking of internal conditions:  

There is a need of checking of internal condition going on in the organisation. This will generally reduce the conflict which is being generally created inside the organisation (sgrf.gov.om, 2018).  

Facing of internal challenges: The challenges which are faced by the organisation should not be avoided otherwise the issue will never be clear (Meuser et al.  2016). 

5.4 External Challenges

Proactive: The leaders need to become proactive so that they never wait for opportunities to do their work. This will make the external challenges less and diminished. If the working does not remain proactive, then it will generally lead to a huge problem in the functioning of the work

Creative: There is a need for becoming creative in the leadership style. This is because when the organisational functions are done creatively, and then there will be fewer chances of arising external challenges. Creativity is a must otherwise it will never lead to a proper upliftment of the organisation (sgrf.gov.om, 2018). 

Retaining objectivity: The objectivity has to be retained in such a way, that the influential power does not get any option to raise a hand. This often mitigates the chances of having any authaterial influence on the organisation. Therefore retaining objectivity is a must (sgrf.gov.om, 2018).  

Opportunities for collaboration: The various opportunities of collaboration have to be grabbed. This has to be done to fight with the several challenges which generally arise from the non-participation (Haque and Aston, 2016).

6.0 Conclusion and Recommendation

Behind the success of any organization there lie various aspects. One of them is leadership skills in organization. Leadership leads a people in the organization to work for the success and achieving higher goals in the organization. And it is done by guiding, motivating and showing the exact path to the employees. In any work place the employees need to be guided properly time to time. A good leader knows what is the strengths and weakness of any employee. SGRF is not an exceptional in this case. This organization also needs proper leadership for achieving success. Organizational leadership requires ethics which is to keep balance of loyalty, truthfulness in the system. Leaders and managers are not the same. Where managers only give instructions and order, the leaders stay with the team for the entire work and make sure that it completes in time. Many are afraid of being a leader as leaders have many responsibilities. Leaders should rise above such fears. A leader should pose the skills to look always the best way of working, find the hidden alternatives, good communication and maintain good relationship with the co-workers by respecting individuals. In SGRF there are leaders who are giving their best to the organization. But there are ways where the leadership skills and usage of leadership can be applied to the organization for betterment and success.

• The procedures and the policies of the organization need to follow in a perfect way

• Submission to the authority of others

• There should be risk taken for effective sectoral leadership

• The conflict should be accepted, so that effective leadership is followed

• Truth should be prevailed with compassion

• Listening to all problems within the organization is a must

• Lastly, the leaders have to be loveable towards the employees

It can be said that proper leadership and management will yield a good and productive development of the organisation. Therefore, the concerned organization needs to frame an overall design to maintain its standard as well as mitigate its drawbacks. The certain problems which are being faced by the organisation need to cope up. This has to be done in such an order so that there is a proper growth of the organisation. The report consists of a proper task analysation in an order. There has been a user of theories which has been done for the report in a varied way.

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