In a short essay, identify four traits associated with leadership and give an example of each
What will be an ideal response?
Answer:
a. Drive – leaders exhibit a high effort level. They have a relatively high desire for achievement; they are ambitious; they have a lot of energy; they are tirelessly persistent in their activities; and they show initiative. Bill Gates built Microsoft into a successful corporation.
b. Desire to lead – leaders have a strong desire to influence and lead others. They demonstrate the willingness to take responsibility. Managers seeking promotions generally have a desire to lead.
c. Honesty and integrity – leaders build trusting relationships between themselves and followers by being truthful or non-deceitful and by showing high consistency between word and deed. Sherron Watkins blew the whistle on Enron.
d. Self-confidence – followers look to leaders for an absence of self-doubt. Leaders, therefore, need to show self-confidence in order to convince followers of the rightness of their goals and decisions. Steve Jobs had confidence in himself and his employees.
e. Intelligence – leaders need to be intelligent enough to gather, synthesize, and interpret large amounts of information, and they need to be able to create visions, solve problems, and make correct decisions. Jack Welch of GE was a very intelligent man.
f. Job-relevant knowledge – effective leaders have a high degree of knowledge about the company, industry, and technical matters. In-depth knowledge allows leaders to make well-informed decisions and to understand the implications of those decisions. Steve Jobs knew the electronics industry and market very well.
g. Extraversion – leaders are energetic, lively people. They are sociable, assertive, and rarely silent or withdrawn. Herb Kelleher of Southwest Airlines was extraverted.
h. Proneness to guilt – guilt proneness is positively related to leadership effectiveness because it produces a strong sense of responsibility for others. Mary Barra of General Motors has accepted corporate guilt for the poor quality of GM cars amid numerous recalls.
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The auditor's report on the published financial statements of a large corporation should be viewed as:
A. The opinion of independent experts as to the overall fairness of the statements. B. The opinion of the corporation's chief accountant as to the overall fairness of the statements. C. A guarantee by a firm of certified public accountants that the statements are accurate. D. A guarantee by the Financial Statements Insurance Board that the statements do not overstate assets or net income.
The federal Health Insurance Portability and Accountability Act aimed at preventing the unauthorized use or disclosure of health and medical information commonly referred to as:
a. COBRA. b. medicare. c. protected health information. d. public healthcare information.