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Identification of Leadership Behaviors
Patrick has just been hired in a management/leadership position for Trion's Inc. It should prove a challenging position due to the fact the Board of Directors wants to see the profit margin back to 5% in 18 months or less. Things have not been going well at Trion's Inc. Patrick wonders which leadership style will be more effective in order to accomplish the tasks that need to be done? He does not have much time so maybe he should centralize authority, dictate work methods, and make the decisions, at least for a while. However, that really is not the method Patrick prefers. He would rather involve employees in decision making, delegate authority, and encourage participation in decision- making, but make the final decision himself.
From what he has observed, the last leadership style that was used with the group of employees was to allow employees to do whatever they wanted, giving them complete freedom to make decisions. The only input from the leader was to supply necessary materials and answer questions.
-Which leadership style are the employees accustomed to?
Investment
The action or process of investing money for profit or material result, often involving risk.
Original Principal
The initial amount of money loaned or invested, before any interest or profits are added.
Missing Value
A data point or an element in a statistical or mathematical model that is not observed or recorded.
Compounded Annually
The annual computation of interest that adds together the original investment and the previously earned interest.
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