QUESTION 1 Critically examine and discuss leadership and management theories. (700 words) The majority of people understand the phrases leadership and management to be interchangeable. It is crucial to recognize that effective and efficient management depends on strong leadership. Good leadership behavior stresses creating an environment where each person may flourish in their work as a key element of management. Leadership is the capacity to direct and motivate a team's efforts toward achieving various organizational objectives. This influence may come from official sources, such as those made available by obtaining a managerial position inside a company. Any manager must possess the qualities of a good leader, i.e., leadership traits. Leaders create and launch competitive advantage-building strategies. For maximum organizational effectiveness, businesses need strong management and strong leadership. The following are some examples of management and leadership theories: 1. Contingency theory: There is no ideal method to lead or structure an organization, according to the contingency hypothesis. According to this idea, the impact of leadership on a group's performance depends on three factors: the member-leader relationship (good or bad); the structure or lack thereof of the duties; and the leader's power (weak or strong) and its moderating impact on leadership styles. 2. Expectancy theory: According to this theory of motivation, a worker will put in more effort if he or she thinks doing so will result in better performance reviews, which will lead to a form of reward like an increase in pay that will also meet personal goals. 3. The Great Man Theory: Since leadership is viewed as a heroic endeavor, it follows that a person's exceptional combination of talents, personality traits, and personal abilities distinguishes him or her from all other leaders. 4. Situational Leadership Theory: According to this theory, leaders typically adapt their actions to the circumstances. Based on each follower's unique demands, this flexible and adaptable leadership style decides whether a leader is directive or supportive. One of the best and most efficient ways to lead a company, yet it frequently isn't included in the list of prevalent leadership styles. This method of leadership enables leaders to successfully mentor employees at different stages of development. For instance, a leader appointed to handle a crisis may need to exercise autocratic control, whereas a leader appointed to inspire team members to explore and propose ideas would exercise democratic control to make decisions that would benefit the organization. 5. Extrinsic motivation theory: According to this theory, workers are driven to finish a task because they may be rewarded in some way by external influences. This aids in a person completing tasks that have been allocated to them. Their reward for completing the work could be psychological, emotional, materialistic, or intangible. Over time, this might potentially interfere with learning and goal achievement. 6. Transactional Leadership: Transactional leadership and transformational leadership are frequently contrasted. Self-motivated individuals who can function well in a structured and guided setting are the ones who will define this sort of leadership. This leadership is results-driven, monitors the organization's current structure, and measures success using the organization's system of incentives and sanctions. 7. Transformational leadership: In this style of leadership, team members are encouraged and motivated to bring about constructive change inside their organizations. Both leaders and followers can enhance one another's morale and drive while also enhancing their abilities and attributes. A leader must comprehend the various processes involved in the process as well as how transformational leadership may help the entire team to benefit from it. 8. Reinforcement theory: According to this idea, using rewards, penalties, and extinction can alter a person's behavior. Rewards can be used to reinforce desired behaviors, punishment can be used to stop undesirable behaviors, and extinction can be used to cease a behavior that has already been ingrained in a person. Operant conditioning is the word used in practice to describe this procedure. QUESTION 2 Demonstrate an understanding and application of the above theories in any multi-national organization of your choice (300 words) McDonald’s Richard and Maurice McDonald established the first McDonald's, a global fast food chain, as a restaurant in the year 1940. With more than 1.7 million employees and more than 37,000 locations worldwide, it serves close to 70 million clients in 100 different countries. In nations like Peru, France, Mexico, Denmark, Argentina, Brazil, Ireland, Columbia, Belgium, Switzerland, Norway, the Netherlands, and Uruguay, it is regarded as one of the best locations to work. The McDonald brothers, also known as Richard and Maurice McDonald, were twins who were born in Manchester, New Hampshire. Richard was born in February 1909, whereas Maurice was born in late 1902. Management Theories put into practice by McDonald's McDonald's offers numerous examples of classical management, including Henri Fayol's management concepts and Frederick Taylor's scientific management. McDonald's also shows how its management approaches stack up against those of its rivals and how they've helped the company become successful. Taylor's management style is seen through McDonald's education, training, and systems, but Fayol's management style is visible through McDonald's delegation of responsibility and authority. McDonald's exceptional corporate reputations over the world serve as evidence of their successful application of management theory. For instance, the regular inquiries asked by McDonald's cashiers are "Small, Medium, or Large" and "Would you like fries with that?" In addition to employing computers to send the order into the holding bins for the cooks, McDonald's also employs a register to confirm, assemble, and check the order. McDonald's uses a certain method to prepare its food to boost efficiency. To make each activity as efficient as possible, all of these tasks are carried out by various people. Finally, Taylor is a proponent of using incentives to promote high productivity. Given that the employee will receive the same payout regardless of how productive they are, setting a fixed wage will only encourage poor production. Taylor recommended using a reward system to create incentives to address this issue. McDonald's inspires its workforce through initiatives like Employee of the Month, the Company Car Program, and the Recognition Program, where workers are recognized for their dedication. In addition, McDonald's offers programs that reward-motivated employees with access to gift cards, free meals, and products. The company would also reward outstanding workers with "bonuses based on the performance of their business activities. QUESTION 3 Identify and analyze the skills required to lead and manage in the selected multi-national organization (300 words) Skills Required To Lead and Manage McDonald’s The qualities, skills, and knowledge listed below are necessary for a manager to thrive at McDonald's and are also frequently demanded by employers when employing new employees: High school diploma or an equivalent educational credential. Excellent problem-solving skills strong understanding of the fast-food industry. The capacity to act fast and precisely under pressure. Easily exchange information with others. Multitasking abilities are crucial. having a keen managerial mind and the capacity to lead people working knowledge of relevant applications, such as Word processing and Microsoft Excel. During the hiring process, McDonald's management may provide some tests to candidates to evaluate their qualifications for the role in terms of skills, aptitude, and leadership. The obligation to oversee many departments: Franchisees of McDonald's will occasionally recruit assistant managers in place of restaurant managers. Department managers oversee various systems, such as the inventory or training systems at McDonald's. While kitchen managers make sure food is made promptly, safely, and accurately, customer service managers and promotions managers are in charge of providing excellent customer service. Giving Customer-Friendly Services: McDonald's managers often have the following responsibilities: training or supervising the assistant managers; arranging the weekly schedules of their staff; and handling customer concerns. Additionally, they continue to provide their floor supervisors with consistent and welcoming customer service. When you work in the food sector, knowing what to say and when to smile isn't always enough. Managers should recognize staff members who earn praise from clients to inspire them to deliver superior food and service. Stocking, cleaning, and staffing: People from all professions work at McDonald's. They may be in charge of filling out restaurant orders, interacting with clients, or cleaning up messes. They make sure the restaurant is adequately stocked and staffed at peak times, such as the lunch and evening rushes. A manager's duties include maintaining and cleaning properties during peak periods. When McDonald's launches new promotions, management updates window signs, menu boards, and related materials. Taking care of the logistics, community outreach, and rules: The management staff at McDonald's works hard to meet profitability and sales goals while adhering to safety rules, security policies, and food safety laws. They carry out activities like taking inventory, receiving food supplies, counting money, and making deposits. Managers also deal with payroll, paperwork, and records. Some restaurant managers go above and beyond the call of duty to foster relationships with the locals. They might organize a charity drive or a benefit for the schools, for instance.