The retail industry refers to the comfortable and convenient process of business in the business industry (Gregory, 2015). Retailing is one of the major and most popular areas in the e-commerce, which entails the selling and buying of the goods as well as service to the consumers. The targeted market if the retail industry is he educated consumers as this is the section of the e-commerce. Apart from only the selling and buying of the products and service, the retail industry also focuses on the personalized customer service (Zhu & Akhtar, 2014). However, the retail industry is one of the fastest and rapid changing industries with vibrant and various features that work as the attracting to the customers. Apart from the e-commerce the retail business also is a combination of the small and medium sized retail stores.
However, the retail industry contains diverse activities and that make the basis of the retail business. To the effective operations of the business and the better performance in the industry, the retail business requires effective leadership (Chen & Yang, 2012). This is because the retail industry contains the activities and trends such as interaction with the consumers, customer service, retail marketing, employment opportunities and sales promotion. The leaders of the retail industry are the management system of the retail organization that ensures the better business performance. The effective leadership can influence the employees to take risk and initiatives, stimulate the innovation and other, which can lead to the overall enhancement of the business performance of the retail organization (Men & Stacks, 2013). The effective and proper leadership is thus needed for the retail business in order to strengthen the business performance of the organizations in the industry as well as in the consumer market. In other way the retail business organization is dependable on the management of the same in terms of the business performance.
Leadership is the power and the authority in of a person or a group of person for getting the things done (Northouse, 2015). In other way, leadership in the business entails the authority of the management of a business organization for the managing and guiding the operations and activities in the business in order to get effective outcome from the same (Mendenhall, 2012). The retail organization being one of the major and popular aspects of the business in the present global context is excessively competitive and requires effective leadership for the better business performance. The problem that is apparent in the retail business can affect the business performance of the retail organization in the global market (Shao, Feng & Liu, 2012). Several problems predominant in the retail business are the employee turnover, inadequate technological competencies and issues with price of the product and service.
The problems indicate the negative leadership of the retail business organization. In addition, the problems create a negative impact on the performance of the firm in the specific industry (Gray & Williams, 2012). Apart from these problems, there are other issues. However, the study researches and identifies the stated problem as the major one. The employee turnover being the initial and major problem refers to the ineffective leadership of the management of the retail business organization. The reason for the employee turnover is the numerous options from the same industry by different organizations are presented in the market and therefore, it is the responsibility of the leaders to get hold of the employees (Mowday, Porter & Steers, 2013). The technological intervention is needed to be done by the leaders in order to get all the employees aware of the new technologies in retain business. Here, in this connection, this must be noted that major portion of the retail business is based on the technologies (Gregory, 2015). In the excessive competitive global market, the price of the products and service is one of the challenges to the leaders. The lack of competency to face and resolve the challenge issue indicates the incompetent leadership style in the business performance (Grewal et al., 2012). Most of the retail organization are seen lacking behind with these issue. Therefore, the research states these problems as the major one in the retail industry’s business performance.
Leadership is the basic and one of the prime factors of the business industry, especially of the retail industry. The research being on the impact of the leadership on re retail industry’s business performance proposes the issues and challenges in the retail business faced by the management, which can later become the risk factor for the organizations. The aim of the research being to identify both positive and negative impact of the leadership is justified for the potential and future leaders to understand and realize the importance of proper and effective leadership. This research will be beneficial to the retail industry in terms of the following benefits:
The researcher is expecting the study will provide a result that will either be positive or negative. The end result of the research will provide the effect of leadership on the business settings. The hypothesis is formulated accordingly stating the advantages or disadvantages of implementing leadership in the business. It will also demonstrate the effectiveness of particular style of leadership in the particular type of industry. This is because the previous theories and literature available in the market states the efficiency of leadership styles in particular settings. As the industry under study is retail industry, hence, the result will show the appropriate leadership style that will bring improvement in the retail business. The way of conduct is also expected from the research. Moreover, this will also demonstrate the change of atmosphere in the workplace due to the implementation of proper leadership style in the business. This research will help the future scholars for understanding the impact. It has validity for the retail owners as they will be able to gain knowledge which leadership will be best suited for the type of business they are doing and best way to implement them and act accordingly.
Every employee works towards satisfying the basic goal, that is, achievement of success. The process, which they adopt for this purpose, invokes the leader within them. The method is same for all of the employees of retail industry; however, the only difference lies in the approach towards execution of the activities (Choudhary, Akhtar, & Zaheer, 2013). Theoretical approach towards leadership enhances the clarity of the readers towards the concept. Mentionable theories in this direction are Great Man Theory, Trait Theory, Behavioral Theory, contingency theory, Transformational theory and Transactional theory.
Figure 1: Conceptual framework of Leadership and its impact on the business performance
One of an important aspect here is the behavioral approach towards the allocated duties and responsibilities. This aspect brings behavioral theory into the discussion. In terms of leadership, the employees of retail industry need to expose rational behavior. Emerging successful in making judicious application of rational thinking in the workplace activities, prepares the employees of retail industry of the retail industry towards leadership (Dubey, Gunasekaran & Ali, 2015). Presence of rationality and maturity in thinking within the traits, takes the personnel much closer to leadership. On the contrary, exposure of immature and irrational behavior needs thorough modification of the exposed behavior. Spontaneity in this modification enhances the personality of the employees, which can be correlated with the Great Man Theory. Viewing it from the other perspective, feeling the inner urge to modify the exposed performance, results in the transformation of the employee into leaders.
Delving deep into the Trait Theory, the essential components of leadership are:- adjusting ability, understanding, helpful, supportive among others. Presence of these characteristic traits within the managers is obvious for enhancing the productivity of the retail industry. Along with this, exposure of these traits by the employees is their efforts towards attaining promotion to the level of the managers (Rock, 2014). Desparate attempts in this direction prove beneficial for the retail industry in terms of extracting the best out of the employees. On the other hand, absence of willingness and eagerness within the employees proves harmful for the industry in terms of managing the business activities in an efficient and effective manner.
Viewing it from the perspective of the managers, the segment bears direct relationship. It is the managers, whose guidance and support enables the employees to perform the allocated duties and responsibilities in an efficient and effective manner (Hartnell et al., 2016). Provision of motivation and encouragement to the employees generates an urge within the employees to expose performance, which aligns with the aims and objectives of the industry.
Approach is one of the other aspects, which lays the foundation of leadership. In workplace, the managers need to adopt some innovative means, to stand out from the crowd. Here, rational thinking is one of the essential determinants for assessing the awarded designation to the managers. Negativity in this direction affects the efficiency of the workplace activities in the retail industry. Critical reflection into this negativity attaches an interrogative parameter to the role played by the managers in terms of managing the workplace activities (Wang et al., 2014).
Evaluation is the one of the other aspects, which forms the parameters of leadership. This is applicable for the managers in every industry including the retail. Evaluation is an effective means for altering the personality in case of the employees, managers and the other staffs. Self-observation is a typical component of evaluation, which brings regulation over the expressions and actions of the personnel of retail industry. For this, goal-setting theory proves appropriate. Setting short-term goals improves the focus of the personnel in terms of invoking the leader out of the employees (Goleman, Boyatzis & McKee, 2013). The performance of these goals needs to be tracked in terms of assessing the current position and the steps needed to reach to the benchmark level of performance. For this, templates and checklists prove quite helpful. Time management also occupies an important position for enhancing the preconceived leadership skills and abilities. Allotment of times for the activities generates confidence of the managers and employees of the retail industry in terms of executing the challenging and enduring tasks in an efficient and effective manner. Regularizing this execution enables the personnel to complete the tasks within less time (Chang, Chen & Chiou, 2015).
Utilization of the potential skills also adds value to leadership skills and abilities. Indulging in training programs is an effective option for the managers in terms of transferring the possessed skills to the employees. This transfer of skills enhances the stability in the relationship between the managers and the employees. Maintenance of this stability is one of the other parameters of leadership. Testing the employees regarding their ability to make practical application of the learnt skills is also a self-introspection of the managers in terms of efficient execution of the allocated roles and responsibilities (Birasnav, 2014).
Leadership also gains an important position in management of the workplace activities, especially conflicts, discriminations, harassments and solving the queries of the employees (Men & Stacks, 2013). Patience, understanding and caring attitude of the managers creates a positive image about the managers in the minds of the employees. On the other hand, lackadaisical approach towards maintenance of the order, harmony and decorum of the workplace compels the employees to switch over to industries, which provides job satisfaction (Goleman, Boyatzis & McKee, 2013). This is a loss for the retail industry.
Acting according to the situation is a wise step for the leaders. However, if the managers come up with something innovative well in advance, it proves beneficial in terms of securing the market position within the competitive ambience. On the contrary, adopting innovative steps after some adverse situation, it reflects continuity with the other brands. Moreover, the customers lose interest in such brands, which adds vulnerability in the market position .
Based on all of these propositions, the following two hypotheses can be developed:
H0: Leadership does not bear any relationship with the workplace performance
H1: Leadership occupies the central position for enhancing the productivity of the workplace
The methodology section of the report discusses the research methods, approaches and designs that are used for the completion of the research. Various methods are available that can be used for conducting the business research; however, some of them are effective to provide the desired outcome. Those which are considered for this particular research are discussed in this section.
This is the study of research articles, journals, books and other authentic resources on the relevant topic of study. This is conducted in prior to data collection and other steps of research for gaining an in-depth idea of the topic. In addition to that, the idea of the framework of the research will also form to help carrying out the research (Terrell, 2012).
Sampling and Sample Size – The first step towards data collection will be the identification of the sample size from which data will be collected. It is necessary for restricting the research in a particular segment of the broader society and maintaining the focus of research (Desu, 2012).
Data collection is the process of obtaining information and evidences for the research. The methods that will be handy for this research are:
There are basically two sets of data that are qualitative and quantitative data. Quantitative data are the numerical data that can be put in the figures, pie charts, excel sheet, mathematical and statistical modeling etc. On the other hand, data that cannot be quantified are considered as the qualitative data.
The research requires the use of all the methodologies mentioned in the above for achieving the answer of the research. This will help getting accurate solution of the problem the research is based on.
A short outline of the project report is presented in this part. It is as follows:
Chapter One – The first chapter of the research project will comprise of the research proposal
Chapter Two – A detailed understanding and description of the case will be presented in this chapter
Chapter Three – This part of the assignment will dictate the methodologies that are used for the completion of the project
Chapter Four – is comprised with the finding and analysis of the research
Chapter Five – A summary of the findings of the research on ‘Impact of leadership on business performance’ is provided in this section.
Project Schedule and Budget:
The research schedule is the timeline of the research work that reflects the allotment of time for particular task in the process. It is widely known as Gantt chart. The Gantt chart for this particular research is presented below:
|
Purpose |
Estimation of the Expenditure |
|
Literature Review |
$1000 |
|
Data Collection |
$2500 |
|
Data Analysis |
$1500 |
|
Total Estimated Budget |
$5000 |
The estimation of the total expenses required for completion of the project is $5000 within the time limit set in the Gantt chart that is 133 days. The total amount will be spent after various tasks performed as mentioned in the budget table.
|
WBS |
Task Name |
Duration |
Start |
Finish |
Predecessors |
|
0 |
Research Project |
133 days |
Fri 06-10-17 |
Tue 10-04-18 |
|
|
1 |
start date |
0 days |
Fri 06-10-17 |
Fri 06-10-17 |
|
|
2 |
Selecting the Research project |
10 days |
Fri 06-10-17 |
Thu 19-10-17 |
1 |
|
3 |
Documenting the proposal |
8 days |
Fri 20-10-17 |
Tue 31-10-17 |
2 |
|
4 |
Identification of the methodology to be used in research work |
5 days |
Wed 01-11-17 |
Tue 07-11-17 |
3 |
|
5 |
review of existing literature |
40 days |
Wed 08-11-17 |
Tue 02-01-18 |
4 |
|
6 |
Data collection process |
30 days |
Wed 03-01-18 |
Tue 13-02-18 |
5 |
|
7 |
Data analysis process |
7 days |
Wed 14-02-18 |
Thu 22-02-18 |
6 |
|
8 |
Concluding the study |
10 days |
Fri 23-02-18 |
Thu 08-03-18 |
7 |
|
9 |
Thesis documentation |
20 days |
Fri 09-03-18 |
Thu 05-04-18 |
8 |
|
10 |
Thesis submission |
3 days |
Fri 06-04-18 |
Tue 10-04-18 |
9 |
|
11 |
Research work ends |
0 days |
Tue 10-04-18 |
Tue 10-04-18 |
10 |
Reference:
Chen, C. Y., & Yang, C. F. (2012). The impact of spiritual leadership on organizational citizenship behavior: A multi-sample analysis. Journal of Business Ethics, 105(1), 107-114.
Choudhary, A. I., Akhtar, S. A., & Zaheer, A. (2013). Impact of transformational and servant leadership on organizational performance: A comparative analysis. Journal of Business Ethics, 116(2), 433-440.
Creswell, J. W. (2013). Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications.
Desu, M. M. (2012). Sample size methodology. Elsevier.
Dubey, R., Gunasekaran, A., & Ali, S. S. (2015). Exploring the relationship between leadership, operational practices, institutional pressures and environmental performance: A framework for green supply chain. International Journal of Production Economics, 160, 120-132.
Goleman, D., Boyatzis, R. E., & McKee, A. (2013). Primal leadership: Unleashing the power of emotional intelligence. Harvard Business Press.
Gray, E. C., & Williams, J. A. (2012). Retail managers: Laissez-Faire leadership is synonymous with unsuccessful conflict management styles. Open Journal of Leadership, 1(03), 13.
Gregory, J. (2015). The Internet of Things: Revolutionizing the retail industry. Accenture Strategy.
Grewal, D., Roggeveen, A. L., Compeau, L. D., & Levy, M. (2012). Retail value-based pricing strategies: New times, new technologies, new consumers. Journal of Retailing, 88(1), 1-6.
Hartnell, C. A., Kinicki, A. J., Lambert, L. S., Fugate, M., & Doyle Corner, P. (2016). Do similarities or differences between CEO leadership and organizational culture have a more positive effect on firm performance? A test of competing predictions. Journal of Applied Psychology, 101(6), 846.
Men, L. R., & Stacks, D. W. (2013). The impact of leadership style and employee empowerment on perceived organizational reputation. Journal of Communication Management, 17(2), 171-192.
Mendenhall, M. E. (Ed.). (2012). Global leadership: Research, practice, and development. Routledge.
Miles, M. B., Huberman, A. M., & Saldana, J. (2013). Qualitative data analysis. Sage.
Mowday, R. T., Porter, L. W., & Steers, R. M. (2013). Employee—organization linkages: The psychology of commitment, absenteeism, and turnover. Academic press.
Northouse, P. G. (2015). Leadership: Theory and practice. Sage publications.
Pathak, V., Jena, B., & Kalra, S. (2013). Qualitative research. Perspectives in clinical research, 4(3), 192.
Ragin, C. C. (2013). The comparative method: Moving beyond qualitative and quantitative strategies. Univ of California Press.
Rock, D. (2014). Quiet leadership. HarperCollins e-books.
Shao, Z., Feng, Y., & Liu, L. (2012). The mediating effect of organizational culture and knowledge sharing on transformational leadership and Enterprise Resource Planning systems success: An empirical study in China. Computers in Human Behavior, 28(6), 2400-2413.
Terrell, S. R. (2012). Mixed-methods research methodologies. The qualitative report, 17(1), 254-280.
Wang, H., Sui, Y., Luthans, F., Wang, D., & Wu, Y. (2014). Impact of authentic leadership on performance: Role of followers’ positive psychological capital and relational processes. Journal of Organizational Behavior, 35(1), 5-21.
Wang, H., Sui, Y., Luthans, F., Wang, D., & Wu, Y. (2014). Impact of authentic leadership on performance: Role of followers’ positive psychological capital and relational processes. Journal of Organizational Behavior, 35(1), 5-21.
Zhu, Y., & Akhtar, S. (2014). How transformational leadership influences follower helping behavior: The role of trust and prosocial motivation. Journal of Organizational Behavior, 35(3), 373-392.
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