Scholars define three major models of leadership: transformational, narcissistic, and transactional. Although every type of leader brings value to the team, abusing the power of one model can become a liability (University of Maryland Global Campus, 2022). For example, Jeffrey Bezos, the CEO of Amazon, is an example of a narcissistic leader who fulfills his desires and success at the expense of workers with no job security, stable income, and ethical conduct in the workplace. Contrary to the narcissistic model, transformational leadership focuses on the leader’s ability to engage with the employees and motivate them. Steve Jobs of Apple and Richard Branson of Virgin are examples of inspirational leaders interested in embracing creativity and innovation. The third approach, known as the transactional model, is a performance-oriented approach to management. Tesla CEO Elon Musk is an example of a transactional leader who runs a team of professionals by setting short- and long-term goals in exchange for rewards and incentives.
As far as the business proposal from Week 4 discussion is concerned, a participative or democratic approach to leadership would be the most beneficial management option. In order to build a successful platform for financial literacy, it is necessary to ensure the equal participation of professionals specializing in finances, education, marketing, and communications. According to Caramela (2018), one of the most beneficial qualities of a good leader is to make sure that team members collaborate rather than compete with each other. To secure such an atmosphere, I would become a transformational leader who encourages change through communication and compassion. A meaningful educational project cannot exist without emotional intelligence, and my skills of compassion and respect can help build a democratic team where everyone has a say.
References
Caramela, S. (2018). 4 ways to define leadership. Business News Daily. Web.
University of Maryland Global Campus. (2022). Part 1: Management. Web.