LEADERSHIP IN PRACTICE ADS 607
FACULTY ACULTY OF ADMINISTRATIVE SCIENCE AND POLICY PO LICY STUDIES STUDI ES
MANAGING CHANGE (ADS607)
GROUP ASSIGNMENT
TOPIC:
LEADERSHIP IN PRACTICE
PREPARED BY: Masni in!i A"#$ Ha$i%(&0'0'* Ha$i% (&0'0'*7*) 7*) Si!i N+,%i$a in!i M"- S.ai,i(&0'&60/ S.ai,i (&0'&60/*) *) Si!i Si!i Ra. Ra.%a %a. . in! in!ii Si. Si. Pai Pai%a %an n (&0' (&0'06 066 6'1 '1/) /)
PREPARED PREPARED FOR: En- M+." Fai2 in Is%ai$
SUBMISSION DATE: DATE: 07 3#n4 &0' CONTENTS Pages
LEADERSHIP IN PRACTICE ADS 607
ACKNOWLEDGEMENT Chapter I : Introduction
1.1
Organiz nization’s n’s Background
1.2
Vision an and Mi Mission
L4a"4,s.i5 in 5,a!i4
1.3 1.3
Orga Organi niza zati tion on’’s Obje Object ctiv ives es (Cl (Clie ient nt Cha Chart rter er
1.!
Organization’s Chart
1." 1."
Orga Organi niza zati tion on’’s Mai Main n #cti ctiviti vities es
1.$
Organization’s #%ard
Managers and Leadership Leadership vision and strategy Leaders and situations
Chapter II : Leadership in Practice
2.1
Managers and &eadershi'
2.2
&eade adershi' Vi Vision and and t trate ateg)
2.3
&eaders and ituations
• • • •
Chapter III : Ana!sis and Appication
3.1
•
*O+ #nal)sis 3.1. 3.1.1 1
tre treng ngth th and and *eak *eakne ness sses es
3.1.2 3.1.2
O''or O''ortu tuni niti ties es and and +hre +hreat ats s
Chapter I" : S!nthesis and E#auation
Chapter " : Concusion and Suggestion
$E%E$ENCES
C&APTE$ ONE INT$OD'CTION
Introduction Body of Content (Based on chapter) SWOT Analysis Appl Ap plic icat atio ion nAn Anal alys ysis is of data data and and !nding !ndings s (Thor (Thoroug oughne hness" ss" accurac accuracy y a nd depth analysis and interpretation) Conclu Conclusio sion n and reco## reco##end endati ations ons
LEADERSHIP IN PRACTICE ADS 607
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O$GANI*ATION+S ,ACKG$O'ND O#er#ie- O. The EP% E/po!ees0 Pro#ident %und (Mala) , -u'ulan *ang i'anan /ekerja
coonl) kno%n b) the acron) 0/ (Mala) , -*/ is a Mala)sian governent agenc) under the Ministr) o inance. t anages the co'ulsor) savings 'lan and retireent 'lanning or 'rivate sector %orkers in Mala)sia. Mebershi' o the 0/ is andator) or Mala)sian citizens e'lo)ed in the 'rivate sector4 and voluntar) or non5Mala)sian citizens. +he Mala)sian 0/ %as established in 16"1 'ursuant to the 0'lo)ees /rovident und Ordinance 16"14 under the 7ational 8irector o /osts. +his la% becae the 0/ #ct 16"1 in 16924 then the 0/ #ct 1661 in 1661. +he 0/ #ct 1661 re:uires e'lo)ees and their e'lo)ers to contribute to%ards their retireent savings4 and allo%s %orkers to %ithdra% these savings at retireent or or s'ecial 'ur'oses beore then. #s o 31 8eceber 2;124 0/ has 13.$ illion ebers4 o %hich $.! illion are active contributing ebers. #t the sae date4 0/ had ";249$3 contributing e'lo)ers. Who Are Our Me/1ers2 Pri#ate and Non3Pensiona1e Pu1ic Sector e'lo)ees. +he 0/4 as at 8eceber
2;1!4 has a total o 1!.16 illion ebers. +he total nuber o active and contributing ebers is $.$$ illion. +he total nuber o active e'lo)ers is "3;41$$.
Mandator! Contri1utions
# contribution constitutes the aount o one) credited to ebers< individual accounts in the 0/. +he aount is calculated based on the onthl) %ages o an e'lo)ee. Current contribution rate is in accordance %ith %age=salar) received. or e'lo)ees %ho receive %ages=salar) o >M"4;;; and belo%4 the 'ortion o e'lo)ee
M"4;;; the e'lo)ee
LEADERSHIP IN PRACTICE ADS 607
In#est/ent Aocation
Aour onthl) contributions are invested in a nuber o a''roved inancial instruents to generate incoe. +he) include Mala)sian overnent ecurities4 Mone) Market nstruents4 &oans Bonds4 0:uit) and /ro'ert). Di#idends
+he 0/ ensures that )our savings are secure and receive reasonable dividends. n act4 it guarantees a iniu o 4)5 Per Cent Di#idend annuall). +o ensure dividend 'a)ents4 the 0/ invests )our contribution in a''roved inancial instruents or o'tiu returns. 8ividends are 'aid annuall) into )our account. +he dividend rate declared b) the 0/ is subject to the returns ro investents ade in the a''roved instruents. #nnual 8ividends4 on the one hand4 are calculated based on the o'ening balance o )our savings as at 1 Danuar) o each )ear. Monthl) 8ividends credited into )our account4 on the other hand4 are based on the onthl) contributions received.
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"ISION AND MISSION
Our "ision
+o be a %orld5class social securit) organisation 'roviding the best retireent savings or Mala)sians. Our Mission
+o 'rovide the best >etireent avings chee.
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O$GANI*ATION+S O,7ECTI"ES
Custo/er Charter Our Pro/ise
*aiting +ie or ervices #t +he Counter
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•
7on5'eak Eours, /roviding services to ebers=e'lo)ers %ithin 9 inutes ater obtaining :ueue nubers.
•
/eak EoursF, /roviding services to ebers=e'lo)ers %ithin 1" inutes ater obtaining :ueue nubers. (*) Peak Hours: From 11.00 am to 2.30 pm.
Meber #nd 0'lo)er >egistration •
>egistration o co'lete ebers=e'lo)ers< a''lications %ithin 1 %orking da) ro the date o recei't.
7oination >egistration •
>egistration o co'lete ebers< noination a''lications %ithin 1 %orking da) ro the date o recei't.
#ns%ering +ele'hone Calls •
#ns%ering )our tele'hone calls %ithin 1; seconds.
#ns%ering Custoers< &etters #nd 0ails •
7otiication o acce'tance o letters and eails %ithin 2 %orking da)s ro the date o recei't.
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>es'onse to eails %ithin " %orking da)s ro the date o recei't.
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>es'onse to letters %ithin 1; %orking da)s ro the date o recei't.
/rocessing Mebers< *ithdra%al #''lications •
/rocess co'lete a''lications or #ge ";="" Aears *ithdra%al and More +han >M1 Million *ithdra%al and ake 'a)ents in not ore than " %orking da)s ro the date o recei't.
•
/rocess co'lete a''lications or housing %ithdra%als and ake 'a)ents in not ore than 1" %orking da)s ro the date o recei't.
LEADERSHIP IN PRACTICE ADS 607
•
/rocess co'lete a''lications or other t)'es o %ithdra%als and ake 'a)ents in not ore than 21 %orking da)s ro the date o recei't.
>ecei'ting Contribution /a)ents •
>ecei'ting co'lete contribution 'a)ents %ithin 2 %orking da)s ro the date o recei't.
Contributions Crediting •
Crediting co'lete contribution 'a)ents into ebers< accounts %ithin 21 %orking da)s ro the date o recei't.
Mebers< #nnual tateents •
ssuing Mebers< #nnual tateents to active ebers %ithin 3; da)s ro the date o dividend declaration. (*) Members' Annual Statements can be obtane! "rom t#e a$alable c#annels% namel& Akaun% osks an! counters.
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O$GANI*ATION+S C&A$T
LEADERSHIP IN PRACTICE ADS 607
(Source : www.kwsp.gov.my/)
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O$GANI*ATION+S MAIN ACTI"ITIES
+he 0/ is intended to hel' e'lo)ees ro the 'rivate sector save a raction o their salar) in a lietie banking schee4 to be used 'riaril) as a retireent und but also in the event that the e'lo)ee is te'oraril) or no longer it to %ork. +he 0/ also 'rovides a rae%ork or e'lo)ers to eet legal and oral obligations to their e'lo)ees. #s o March 314 2;1!4 the size o the 0/ asset size stood at >M"6G billion. (HI19! billion4 aking it the ourth largest 'ension und in #sia and seventh largest in the %orld. #s o 2;124 the 0/ unctions b) re:uiring a contribution o at least 11? o each eberM"4;;;. *hile in savings4 a eber
LEADERSHIP IN PRACTICE ADS 607
use their 0/ savings in their o%n investents4 although such activities are not covered b) the 0/ and the ebers are to bear an) losses ade.
1.G
O$GANI*ATION+S AWA$DS
a. >M Jualit) #%ard 2;1!. b. #M C+ #%ard and C)ber ecurit) /roject O +he Aear K C)ber ecurit) Mala)sia or 'roject 8ata &oss /revention 2;1!. c. ive5tar >ating or the third tie or service deliver) e@cellence b) the Mala)sian #dinistrative Modernisation and Manageent
/lanning Hnit
(M#M/H. d. inancial Manageent 0@cellence #%ard. e. Clean #udit Certiicate b) the 7ational #udit 8e'artent. .
Best nstitutional olutions /rovider #%ard 2;1! in the slaic inance 7e%s (7 slaic nvestor /oll 2;1!.
g. +he #ssociation o Custoer 0@'erience ndustr) o Mala)sia (#C0 a%arded the 0/ t%o a%ards at its 1"th 7ational Custoer 0@'erience ndustr) #%ard 2;1!, •
Best Contact Centre overnent Ministries = #gencies (O'en K 2nd /lace
•
ocial Media /rograe Contact Centre (O'en K 2nd /lace
C&APTE$ TWO LEADE$S&IP IN P$ACTICE 4)(
MANAGE$S AND LEADE$S&IP
Managers
LEADERSHIP IN PRACTICE ADS 607
De.inition: # Manager is the 'erson res'onsible or 'lanning and directing the %ork o a
grou' o individuals4 onitoring their %ork4 and taking corrective action %hen necessar). or an) 'eo'le4 this is their irst ste' into a anageent career. Managers a) direct %orkers directl) or the) a) direct several su'ervisors %ho direct the %orkers. +he anager ust be ailiar %ith the %ork o all the grou's he=she su'ervises4 but does not need to be the best in an) or all o the areas. t is ore i'ortant or the anager to kno% ho% to anage the %orkers than to kno% ho% to do their %ork %ell. # anager a) have the 'o%er to hire or ire e'lo)ees or to 'roote the. n larger co'anies4 a anager a) onl) recoend such action to the ne@t level o anageent. +he anager has the authorit) to change the %ork assignents o tea ebers. # anageregardless o title4 the anager is res'onsible or 'lanning4 directing4 onitoring and controlling the 'eo'le and their %ork. (#ttp:manaement.about.como!polcesan!proce!uresmanaer1.#tm)
Leadership De.inition, has been described as La 'rocess o social inluence in %hich one 'erson can
enlist the aid and su''ort o others in the acco'lishent o a coon taskL4 although there are alternative deinitions o leadershi'. or e@a'le4 soe understand a eader si'l) as soebod) %ho 'eo'le ollo% or as soebod) %ho guides or directs others4 %hile others deine leadershi' as Lorganizing a grou' o 'eo'le to achieve a coon goalL. 1. +he individuals %ho are the leaders in an organization4 regarded collectivel). 2. +he activit) o leading a grou' o 'eo'le or an organization or the abilit) to do this. 3. +he act o ins'iring subordinates to 'eror and engage in achieving a goal. &eadershi' involves establishing a clear vision4
LEADERSHIP IN PRACTICE ADS 607
sharing that vision %ith others so that the) %ill ollo% %illingl)4 /roviding the inoration4 kno%ledge and ethods to realize that vision. Coordinating and balancing the conlicting interests o all ebers and
stakeholders. # leader ste's u' in ties o crisis4 and is able to think and act creativel) in diicult situations. Hnlike anageent4 leadershi' cannot be taught4 although it a) be learned and enhanced through coaching or entoring. oeone %ith great leadershi' skills toda) is Bill ates %ho4 des'ite earl) ailures4 %ith continued 'assion and innovation has driven Microsot and the sot%are industr) to success. Leadership has nothing to do -ith seniorit! or one+s position in the hierarch!
o. a co/pan!) +oo uch talk about a co'an)’s leadershi' reerring to the senior
ost e@ecutives in the organization. +he) are just that4 senior e@ecutives. &eadershi' doesn’t autoaticall) ha''en %hen )ou reach a certain 'a) grade. Eo'eull) )ou ind it there4 but there are no guarantees. Leadership has nothing to do -ith tites. iilar to the 'oint above4 just because
)ou have a C5level title4 doesn’t autoaticall) ake )ou a leader.N n all o ) talks stress the act that )ou don’t need a title to lead. n act4 )ou can be a leader in )our 'lace o %orshi'4 )our neighborhood4 in )our ail)4 all %ithout having a title. Leadership has nothing to do -ith persona attri1utes. a) the %ord leaderN and
ost 'eo'le think o a doineering4 take5charge charisatic individual. *e oten think o icons ro histor) like eneral /atton or /resident &incoln. But leadershi' isn’t an adjective. *e don’t need e@troverted charisatic traits to 'ractice leadershi'. #nd those %ith charisa don’t autoaticall) lead. Leadership isn+t /anage/ent) +his is the big one. &eadershi' and anageent
are not s)non)ous. Aou have 1" 'eo'le in )our do%n line and /& res'onsibilit) ood or )ou4 ho'eull) )ou are a good anager. ood anageent is nee!e! . Managers need to 'lan4 easure4 onitor4 coordinate4 solve4 hire4 ire4 and so an) other things. +)'icall)4 anagers anage t#ns. &eaders lead 'eo'le.
*orking 'roductivel) and develo'ing eelings o coo'eration and eectiveness are related to having the right 'eo'le doing the right jobs. +here is no standard organizational structure4
LEADERSHIP IN PRACTICE ADS 607
but ost organizations and agencies ollo% the Christas +ree, s)ste %ith the star (or e@a'leP 'resident4 inister at the to'4 saller branches at anageent levels4 and bigger branches at the 'roduction levels. n 0/ %e ollo%ed this kind o structure. oe %ould clai that the lo%er branches su''ort the u''er branches4 but as in the tree4 the branches are su''orted b) a single trunk4 %hich can be thought o as the organizational ission and objectives. 0ach 'art o the tree has its s'eciic unction. *hen all 'arts %ork together4 the s)ste survives unctions 'roductivel)4 has balance and is a 'leasure to see. &eadershi' need to 'la) their roles eectivel) and have great leadershi' skills. 0ach anager at 0/ need to have co'etencies. Co'etencies can deine as skills4 kno%ledge and behaviors that are relevant or an individual to eectivel) carr) out their res'ective roles. Co'etencies in 0/ co'rise i 3 ain t)'es such as Cor'orate Values4 /roessional Co'etencies and unctional Co'etencies as illustrated in the Co'etencies *heel belo%,5
Cor'orate values is a values or behavior that the organization e@'ects all o its ebers to e@hibit and do not var) b) job. t is i'ortant values because it %ill relects the culture that is being nurtured b) the organization. n 0/4 the) need to %ear button badge that %ritten Q3 0/ to sho% and to built %ork tea s'irit. Mean%hile4 /roessional co'etencies re'resent the right stuN %hich distinguished su'erior 'erorers ro average 'erorers. +here are 3 subt)'es or Rcluster’ %hich is leadershi' eectiveness4 inter'ersonal eectiveness and 'ersonal eectiveness. n leadershi' eectiveness4 it co'rises the co'etence to 'lan4 revise4 guide4 organize and anage activities or the tea and onesel. Mean%hile4 inter'ersonal eectiveness its about the abilit) to interact %ith other individuals and teas to a@iize 'erorance and achieve
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business goals. /ersonal eectiveness is ore the :ualities deonstrated %hich are in line %ith the organization’s strategic direction and business or unctional needs. unctional co'etencies is ore kno%n as the unctional kno%ledge or kno%5ho%N that re:uired to co'lete the value chain in delivering a service to internal or e@ternal custoers. t relects the kno%ledge ca'ital and skill base necessar) or the organization to unction and o'erate. or e@a'le training courses4 ever) e'lo)ee need to attend soe courses to 'olish their skills. +his training %ill give the kno%ledge and certain needs that the) are re:uired in order to %ork 'roductive and suicient. or e@a'leP custoer service oicer need to go or counication skill training to i'rove their skills and be able to counicate %ith internal client eectivel). #s a leader4 %e also need to have vision and strateg) on ho% to anage the organization and their %orkers. n 0/ the) 'rovide direction or others to ollo% and align %ith 0/’s ission vision as %ell as to ins'ires others to%ards the achieveent o those objectives.
4)4
LEADE$S&IP "ISION AND ST$ATEG9
Creating a co'elling vision and develo'ing a strateg) to achieve it4 is one o leadershi'’s 'riar) unctions. Eistoricall)4 onl) to' leaders understood the vision %ell enough to organize huan and aterial resources to achieve it. +oda)4 ho%ever4 leaders at ever) level o the organization ust understand the vision. +he leaders 'la) roles in creating the organization’s uture. t e@aines leadershi' vision4 the underl)ing thees coon to eective vision4 and ho% vision %orks on an) levels. t %ill also e@aine ho% leaders orulate vision and strateg). 4)4)(
Leadership "ision
Organizational leaders ust create a co'elling vision that %ill ins'ire and otivate their e'lo)ees. Vision is ore than just a drea. t is an abitious vie% o the uture that ever)one in the organization can believe in4 one that can realisticall) be achieved4 )et oers a uture that is better in i'ortant %a)s than %hat no% [email protected] Vision is %hat guides ever)one in an organization do%n the sae 'ath and at he sae 'ace. *hen a vision is clearl) articulated and ollo%ed ... ever)da) decisions and actions throughout the organization res'ond to current 'robles and challenges in %a)s that ove the organization to%ard the uture rather than aintain the status :uo.N #n organization’s vision ust link the
LEADERSHIP IN PRACTICE ADS 607
'resent to the uture4 energize 'eo'le and garner coitent4 give eaning to %ork and establish a standard o e@cellence.
"ision ins the present to the .uture
Vision is about getting ro here to thereP ro %hat’s going on toda) to %hat ust ha''en toorro%. +he trouble %ith toda)’s organizations is that anagers s'end ost o their tie dealing %ith current 'robles and relativel) little tie conte'lating4 visualizing and 're'aring or the uture. uccessul leaders are those %ho handle the dail) challenge o obtaining short5ter goals and ocus on the uture as %ell.
"ision energi;es peope and garners co//it/ent
# 'o%erul vision %ill challenge 'eo'le to give their best eort. Vision needs to transcend the botto line because 'eo'le are %illing and even eager4 to coit to soething trul) %orth%hile4 soething that akes lie better or others or i'roves their counities.N
"ision gi#es /eaning to -or
0'lo)ees need to kno% their %ork has eaning. *ork is ore than just a 'a) check or an). /eo'le love having a larger 'ur'ose or %hat the) do and the) %ant to eel 'ride in their %ork. # good vision can give larger eaning to %ork b) clari)ing its 'ur'ose4 its interrelationshi' %ith other %ork and its i'act on the organization as a %hole.
"ision esta1ishes a standard o. e
Vision 'rovides easures b) %hich contributions to the organization are gauged. # good vision brings out the best b) s'eaking to the hearts o e'lo)ees4 letting the be a 'art o soething bigger than theselves.N2 # good vision clariies an iage o an organization’s uture4 lets e'lo)ees see ho% the) can contribute4 and enables e'lo)ees to reach higher5 levels o e@cellence. s there a standard ho% toN book or creating leadershi' vision 7ot according to Ma@ 8e/ree4 author and chairan and C0O o Eeran Miller4 nc.4 %ho %rites4 &eadershi' is an art4 soething to be learned over tie4 not si'l) b) reading books. &eadershi' is ore tribal than scientiic4 ore a %eaving o relationshi's than an aassing
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o inoration4N 3 /o%erul and eective visions4 ho%ever4 have ive coon thees, the) have broad4 %idel) shared a''ealP the) hel' organizations deal %ith changeP the) encourage aith and ho'e or the utureP the) relect high idealsP and the) deine both the organization’s destination and the basic rules to get there.N =http:>>---)as?(@@()org>papers>Leadership4@"ision4@and4@Strategic4@Direction)pd. B
4)4)4 Leadership Strateg! 0@cellence in organizational 'erorance does not coe about b) accident. t is a conscious choice ade b) organizational leaders. +o' leaders kno% their organization’s environent4 have a ive5 or ten5)ear vision or the organization4 and set believable 'lans to achieve their vision. Eo%ever4 in this co'le@ and ever5changing %orld4 antici'ating the uture can be ver) diicult. +he authors o &eaders, +he trategies or +aking Charge4N *arren Bennis and Burt 7anus4 agree and add that the ...'robles o organizations are increasingl) co'le@. #n organization’s vision ust link the 'resent to the uture4 energize 'eo'le and garner coitent4 give eaning to %ork and establish a standard o e@cellence.
Strateg! in Action
+ransoring an organization’s vision4 ission and core co'etence into strategies is not enough to achieve organizational e@cellence. &eaders ust also ensure these strategies are i'leented. +his is the ost i'ortant and the ost diicult 'art o strategic anageent. trateg) i'leentation involves using several tools to turn strateg) into action. trong leadershi' is the ost i'ortant tool or strateg) i'leentation. &eaders need to ensure the ne% strateg) is resourced 'ro'erl)4 understood and i'leented4 and 'eo'le are otivated to ado't the ne% strateg). #uthors Bennis and 7anus contribute b) adding4 &eadershi' is Rcausative4’ eaning that leadershi' can invent and create institutions that can e'o%er e'lo)ees to satis) their needs.N +hereore4 leaders are res'onsible or aking decisions about changes in structure4 s)stes and 'olicies to su''ort their organization’s strategic direction.
The Leader+s Contri1ution
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&eaders can ake a signiicant dierence in their organizations. One o the ost critical jobs o the leader is deciding the vision or the uture and linking the uture %ith strategic actions.N #lthough toda)’s successul organizations de'end on the active involveent o all e'lo)ees4 leaders are still ultiatel) res'onsible or establishing organizational direction through vision and strateg). *hen leaders ail to ulil these res'onsibilities4 their organizations struggle. *hen leaders succeed in ulilling these res'onsibilities4 the) can ake a big i'act on their organization’s uture. &eaders decide the direction or their organizations based on acts4 rational anal)sis4 intuition4 'ersonal e@'erience and iagination. Conse:uentl)4 a leader’s contribution and i'act can be easured b) the e@tent to %hich the) are able to,5
articulate the vision4 ission and strategies
allocate the resources re:uired or their i'leentation
ins'ire those %ho ust ebrace and achieve the organizational goals
'rovide re%ards a''ro'riate to those %ho contribute to achieving the vision
inall)4 strategic leadershi' is about gaining control over the direction an organization is heading. t’s also about change transoring the organization ro its 'resent state to a ore eaningul uture state. +o /eters4 author o +hriving on Chaos4N calls this a 'arado@. +he core 'arado@4N %rites /eters4 ...that all leaders at all levels ust contend %ith is ostering (creating internal stabilit) in order to encourage the 'ursuit o constant change.N # successul leadershi' vision %ill consider this 'arado@ and establish a strategic direction that anages the organization’s transoration to achieve its vision.
4)6
LEADE$S AND SIT'ATIONS
"The key to successful leadership today is influence, not authority." !enneth lanchard
ro Martin &uther -ing and ndira andhi4 to Bill ates or teve Dobs there sees to be as an) %a)s to successull) lead 'eo'le as there are leaders. Choosing the right st)le o leadershi' or a given situation %ill hel' )ou becoe a ore eective leader. B) understanding a e% ke) st)les and their i'act4 )ou can develo' )our o%n a''roach to eective leadershi'. &eadershi' is not a Lone size its allL thing. +here are an) t)'es o
LEADERSHIP IN PRACTICE ADS 607
leadershi' st)les4 so leteeber4 the ore leadershi' st)les )ou becoe ailiar %ith the ore tools )ou %ill be able to use to lead eectivel). n the business %orld4 LTrans.or/ationa eadershipL is oten the ost eective a''roach.
+ransorational leaders ins'ire 'eo'le %ith a shared vision o the uture. +he) set clear goals and otivate 'eo'le in reaching the. #nd4 the) counicate clearl) %ith their teas. +ransorational leaders e@'ect the best ro ever)one on their tea as %ell as ro theselves leading to i'roved otivation and high 'roductivit). LAutocratic eadershipL is %here leaders have co'lete 'o%er over their sta. +he beneit o autocratic
leadershi' is that it is incredibl) eicient. +asks are co'leted :uickl). *hile this st)le a) not be ebraced b) sta ebers4 it is oten best used in crises situations and %hen decisions ust be ade :uickl). LDe/ocratic>Participati#e eadersL include tea ebers in the decision5aking 'rocess4 encouraging creativit) and 'artici'ation. +he beneits o this leadershi' st)le are high job satisaction and otivation to %ork hard b) tea ebers. Because 'artici'ation b) tea ebers takes tie this a''roach4 ho%ever4 can slo% the decision aking 'rocess. LLaisse;3%aire eadersL allo% their 'eo'le to %ork on their o%n. +hese leaders a) give reedo to their teas to do their %ork and set their o%n deadlines. +his st)le can be eective i the leader onitors 'erorance and gives eed back regularl). +his st)le is ost eective %hen individual tea ebers are e@'erienced4 skilled4 and sel starters. LTas3Oriented eadershipL ocuses onl) on getting the job done and can also be considered autocratic. +hese leaders deine the %ork4 roles re:uired4 'lan4 organize and onitor the %ork being done. +he) also 'eror ke) tasks such as aintaining standards o 'erorance. +he beneit o this st)le o leadershi' is that it ensures that deadlines are et. +hese are onl) a e% e@a'les o leadershi' st)les. >eeber that no one st)le o leadershi' its all situations so it is hel'ul that )ou have an understanding o a nuber o st)les to assist )ou in ada'ting )our a''roach to the situation at hand. #n) leader can use an) st)le4 and a good i@ that is custoized to the situation is generall) the ost eective a''roach.
LEADERSHIP IN PRACTICE ADS 607
CE#/+0> +E>00 #7#&A #78 #//&C#+O7
LEADERSHIP IN PRACTICE ADS 607
3.1 *O+ #7#&A +he *O+ anal)sis techni:ue is one o the ost coonl) used in strategic 'lanning techni:ues in businessP ho%ever it is also one o the ost isunderstood techni:ues. t is 'riaril) used to 'rovide structure to or suarize )our strategic anal)sis. +his techni:ue can also be used in co'le@ decision aking4 to hel' )ou deterine %hich o several o'tions is better.
3.1.1 +>07+E #78 *0#-700 +he strengths and %eaknesses are internal to the organization. Aour strengths are areas %here )ou have a strategic co'etitive advantage. +hese should be co'leted using the better than our co'etitorN test. Aour strengths are %here )ou can veri) that )our business is better than )our co'etitors. On the other hand )our %eaknesses are areas %here )our co'etitors have a strategic co'etitive advantage. +hese are areas %here )ou can veri) that )our co'etitors are better than )our business. Consider this scenario.
t is 'ossible that ever) business in an industr) has identiied their custoer service as strength. t ight be true that all businesses in an industr) are good at custoer service. Eo%ever %ill )our custoers notice the dierence
7o atter ho% good )our business is at soething4 i )ou are not better than )our co'etitors it is not strength.
'nderstanding SWOT Strengths 8uring )our *O+ anal)sis )ou %ill consider a variet) o strengths ro %ithin )our business. t is i'ortant to note that these strengths %ill all be internal to )our business.
LEADERSHIP IN PRACTICE ADS 607
Strength #efined : trength is a core ca'abilit) o )our business %here )our business has
an advantage over )our co'etitor(s4 %hich )our custoers value i.e. )ou 'assed the better than )our co'etitors test.
'nderstanding SWOT Weanesses 8uring )our *O+ anal)sis )ou %ill consider a variet) o %eaknesses ro %ithin )our business. t is i'ortant to note that these %eaknesses %ill all be internal to )our business. $eakness #efined : # %eakness is a core ca'abilit) o )our business %here )our
co'etitor(s have an advantage over )our business4 %hich )our custoers value i.e. )ou ailed the better than )our co'etitors test. EP% Strength
#s a governent agenc)40/ tr) to co'ete %ith others agenc) and organization in order to ulill custoer need and %ants. 0/ tr) to build their strength b) 'roviding old age securit) to e'lo)ee. or e@a'le as our standard o living i'roves through industrialization4 our lie e@'entanc) %ill also increase. +hereore the i'ortance o the e'lo)er’s4 the e'lo)ee’s as %ell as the 0/ roles in ensuring that the 0/’s schee eets its objectives. 0/ also 'rovide eective and eicient services according to custoer need and %ants. or 0/4 the) has change their unction ro anual service to online service. +his acilities %as 'rovided b) 0/ to hel' their ebers to u'date about their account an)tie %ithout coe to 0/ braches. >ight no%4 the ebers can access ever)thing in this service %ith blink o e)e. One o the acilities that 0/ oered %as i5#kaun ervice. +hrough this services the eber or 0'lo)er’s 0/ online account can acces their 0/ saving and retireent schee. EP% Weaness
0ver) organization has %eakness. 0/ also have %eakness in ter o dividends. or 0/4 real dividend rate %as onl) $.G"??. +his aount is lo% co'ared to other governent controlled und such as +abung Eaji and /erodalan 7asional Berhad (/7B. +he real dividend usuall) based on investent that 0/ %ill get during that )ear and the dividend %ill al%a)s change ever) )ear.
LEADERSHIP IN PRACTICE ADS 607
3.1.2 O//O>+H7+0 #78 +E>0#+ O''ortunities and threats are e@ternal to )our organization. t is 'ossible that all businesses in )our industr) %ill identi) siilar o''ortunities and threats.
Hnderstanding *O+ O''ortunit) 8uring )our *O+ anal)sis )ou %ill consider a variet) o O''ortunities to )our business these O''ortunities %ill all be e@ternal to )our business. #n o''ortunit) is an environental condition in )our acro or industr) environents that can i'rove )our organizations co'etitive 'osition relative to that o )our co'etitors.
'nderstanding SWOT Threats 8uring )our *O+ anal)sis )ou %ill consider a variet) o threats to )our business these threats %ill all be e@ternal to )our business. # threat is a orecast environental condition that is out o )our control and has the 'otential to har )our businesses 'roitabilit). Aou %ill ind )our threats %hen co'leting )our industr) environent anal)sis and )our acro environent anal)sis # coon e@a'le, )ou i'ort goods or resale4 then a negative shit in e@change rates %ill orce u' )our costs4 i )ou are unable to 'ass these costs on to )our custoers4 )our argins %ill reduce. o4 e@change rate volatilit) could be a threat. (htt',==%%%.%hatakesagoodleader.co=s%otSanal)sis.htl
EP% Opportunit! +he 0'lo)ees /rovident und (0/ is Mala)sia’s 'reier retireent savings und4 'roviding basic inancial securit) or retireent. +he und is coitted to 'reserving and gro%ing the savings o its ebers in accordance %ith best 'ractices in investent and cor'orate governance. t %ill al%a)s be guided b) 'rudence in its investent decisions.
LEADERSHIP IN PRACTICE ADS 607
#s a custoer5ocused organisation4 the 0/ delivers eicient and reliable services or the convenience o its ebers and registered e'lo)ers. +he 0/ continues to 'la) a catal)tic role in the nation’s econoic gro%th4 consistent %ith its 'osition as a leading savings institution in Mala)sia. EP% Threats
M0+EO8O&OA #78 />OC0 O +E0 7V0+M07+ >-M#7#0M07+ M#>-0+ >- M#7#0M07+ Market risk is the risk o loss ro changes in the value o'ortolios and inancial instruents due to the oveents ininterest rates4 oreign e@change and e:uit) 'rices.+he 'riar) objective o arket risk anageent is to ensurethat losses ro arket risk can be 'ro'tl) itigated4 andthat risk 'ositions are suicientl) li:uid. +his %ill enable 0/ to reduce its 'osition %ithout incurring 'otential loss that isbe)ond 0/’s risk a''etite. +he 0/ ado'ts the ollo%ing tools to anage arket risk, T Value at >isk (Va> 5 an estiation o the aount o arket value that a 'ortolio can lose over a certain tie horizon%ith a given 'robabilit). +he Monte Carlo iulation isused to co'ute Va> to easure the riskiness o the 'ortolios T 8uration 5 a linear easure o risk or a bond to deine the 'ercentage increase (decrease in the bond’s valueor a 1? all (rise in the bond’s )ield T +racking error 5 reers to the standard deviation o the 'ortolio’s e@cess returns relative to a benchark T iulation anal)sis4 including stress testing is another ethod o e@aining 'ortolio risk in e@tree situations. tress testing involves setting 'araeters such as correlation4 volatilit) and returns at dierent values as %ell as assessing ho% a 'ortolio’s risk a) change T Beta easureent K used or gauging the e:uit)’s 'rice sensitivities against benchark
C$EDIT $ISK MANAGEMENT
LEADERSHIP IN PRACTICE ADS 607
Credit risk is the risk o loss due to the inabilit) or un%illingness o a borro%er=counter'art) to eet its 'a)ent obligations. 0@'osure to credit risk arises through lending4 hedging4 trading and investing activities. +he 'riar) objective o credit risk anageent is to ensure that the 0/’s e@'osure to credit risk is al%a)s %ithin its ca'abilit) and inancial ca'acit) to %ithstand 'otential uture losses. +he 0/ assessed its credit e@'osures through various tools such as,5 T Credit /ortolio Modelling K used to co'ute Credit Va> or gauging the credit risk e@'osure T Cor'orate >ating +e'late K 'rovides a statisticall)based internal risk rating or cor'orate borro%ers and is consistent %ith best 'ractice rating odels o inancial institutions &JH8+A >- M#7#0M07+ &i:uidit) risk relates to the inabilit) to eet inancial coitents and obligations %hen the) all due. +he 0/ aintains ade:uate levels o li:uid assets in the or o cash and 'laceents in inancial institutions in order to eet ebers’ %ithdra%als and other inancial coitents and obligations. MO7+O>7 #78 >0V0*7 O 7V0+M07+ >- M#7#0M07+ +he nvestent /anel through the >isk #''etite tateents deines the level o risks that the 0/ is %illing to tolerate. +his ors the basis o investent unds allocation. +he nvestent /anel >isk Coittee (/>C 'rovides oversight on investent risk anageent activities and revie%s risks in the 0/’s investent 'ortolio. +he Manageent >isk Coittee (M>C in its eetings4 revie%s 'ortolio risk re'orts to identi) ke) sources o risk across all asset classes. Based on the risk re'orts4 the M>C onitors large risk concentrations and deterines the a''ro'riate action to be taken. +he M>C also evaluates the results o stress testing and scenario anal)ses. +he nvestent risk rae%ork4 'olic) and ethodolog) are regularl) revie%ed and enhanced to ensure their continued eectiveness. %&'T*%+ *S! -+'-'+T %$AMEWO$K
O'erational risk is the risk o loss resulting ro inade:uate or ailed internal 'rocesses4 'eo'le or s)stes4 or ro e@ternal events. +he O'erational >isk Manageent (O>M
LEADERSHIP IN PRACTICE ADS 607
rae%ork is ado'ted to align strateg)4 organisational 'olic)4 technolog) and kno%ledge %ith the 'rocess o evaluating and anaging the uncertainties and adverse eects o o'erational risks. +he rae%ork e@'lains the ethodolog) ado'ted b) 0/
and deines the 'rocesses
utilised to establish the conte@t o as %ell as assess4 treat4 onitor and re'ort signiicant o'erational risks. +he 0/ has also co'leted bencharking its e@isting O>M rae%ork against the M O 31;;;,2;1; international standard and targets co'leting the alignent to this standard b) 2;12. %&%T' *S! S%'#
+he Cor'orate >isk corecard (C> ethodolog)4 a risk anageent a''roach consistent %ith the M O 31;;;,2;1; standard on >isk Manageent4 has been ado'ted in the i'leentation o o'erational risk anageent. One o the ke) eleents in the C> ethodolog) is the >isk and Control el5#ssessent (>C# odule %hich allo%s our sta to sel5assess and u'date their risk 'roile. ross risks are assigned nuerical values4 using 'redeterined /ossibilit) and 'act >ating 'araeters. 0@isting controls and itigating strategies are identiied and their eectiveness is evaluated to derive the 7ett >isk >ating. +he 7 ett >isk >ating is anal)sed against the +arget >isk rating to deterine %hether action 'lans are needed to itigate the risks. #ccess to the O>M s)ste is 'rovided on an enter'rise%ide basis so that all >isk corecards O%ners4 >isk O%ners4 Control O%ners and Manageent #ction (M# O%ners can undertake >C# activities eectivel). # total o 1;1 risk scorecards have been established or all de'artents4 sections and branches %ithin 0/.
0S*+'SS %+T*+0*T1 -+'-'+T
+he 0/’s Business Continuit) Manageent (BCM 'rograe is bencharked against sound BCM standards and guidelines as a basis or understanding4 develo'ing and i'leenting business continuit). +his bencharking also enables us to easure 0/’s BCM 'rograe ca'abilit) in a consistent and recognised anner. +he illustration belo% sho%s the co'onents o 0/’s BCM /rograe rae%ork. +he BCM 'rograe %ill ensure that 0/ resues critical o'erations %ithin the re:uired tieraes and iniizes the cost o daages and interru'tions due to disasters.
LEADERSHIP IN PRACTICE ADS 607
n 2;114 0/ continued the BCM 'rograe at the de'artental and branch level4 and successull) conducted
a
lood
crisis siulation e@ercise in -uala +erengganu.
>e'resentatives ro ther branches 'artici'ated in this e@ercise. -%+*T%*+ +# '2*'$ %3 %&'T*%+ *S! -+'-'+T
+he Board onitors and revie%s the i'leentation o the risk anageent rae%ork through the Board >isk Manageent Coittee (B>MC. +he O>M is considered 'art o the strategic anageent 'rocess and ke) o'erational risks are anaged as 'art o da)to5 da) o'erations. #ll risks are revie%ed in a oral 'rocess and coordinated b) the >isk Manageent 8e'artent. &ine anagers o%n their risks to ensure their coitentto 'roviding u'%ard assurance as 'art o the accountabilit) and trans'arenc) easures in 'lace throughout the 0/. i@ digital assurance e@ercises are conducted annuall) to ensure the eective i'leentation o the O>M ethodolog). # consolidated scoring anal)sis is conducted to 'rovide a consolidated vie% o ke) risks aced b) the 0/. n enhancing our risk easureent and onitoring 'rocess4 relevant -e) >isk ndicators have been identiied in stages. +hese serve as earl) %arning signals to detect and highlight risk events and ne% risk concerns as %ell as 'otential areas o %eaknesses in o'erational controls. #n assessent o risks is also conducted on ke) 'rojects4 %hereb) critical risks and issues are identiied and assessed b) the relevant subject atter e@'erts4 inde'endent ro the 'roject o%ners.
%+T*+0%0S *-&%2'-'+T
+he risk anageent rae%ork4 ethodologies4 'rocesses and tools %ith regard to the arket risk4 credit risk4 li:uidit) risk and o'erational risk are regularl) revie%ed to ensure their continued eectiveness.
C&APTE$ %O'$ S9NT&ESIS AND E"AL'ATION
0valuation activities %hich address ho% dierent counities and cultures are
'rogressing to%ards o'enness in their shared 'ractice. +hese utilise i@ed ethods
LEADERSHIP IN PRACTICE ADS 607
to e@aine social4 technical4 'edagogical and legal = organisational issues4 and 'rovide a s)nthesis account detailing barriers and o''ortunities or change.
+he s)nthesis re'orts include recoendations to unders and to the
stakeholders re'resented in the 'rograe4 and a versions o the rae%ork tool or use b) the sector to audit 'rogress to%ards ore o'en 'ractices around educational resources.
C&APTE$ %I"E CONCL'SION AND S'GGESTION CONCL'SION
LEADERSHIP IN PRACTICE ADS 607
&eadershi' is the abilit) o individuals to inluence4 otivate and ake other able to contribute to the eectiveness and organizational success. +he role o leaders in an) organization is ver) doinant in generating e'lo)ee’s develo'ent. 0'lo)ee develo'ent is a ke) contributor to a business strateg) based on develo'ing intellectual ca'ital4 hel's develo' anagerial talent4 and allo%s e'lo)ee to take res'onsibilit) or their careers. &eadershi' takes a ver) i'ortant role in deterining e'lo)ee develo'ent in order to achieve organization’s goal. +he leadershi' actors that contributed a value or 0/ oicers in dedicating their 'roessionalis through their career as a 0/ oicer4 and actors in their leader in develo'ing e'lo)ee 'roessionalis. &eaders need to give 'eo'le a vision o the uture. +he leaders need to co'e %ith change4 so do ollo%ers. &eaders can energize and sustain 'eo'le to act4 to tr) things out4 to get on %ith the job in hand. +he) can energize 'eo'le to tr). +he 'ractical side o leadershi' is not de'ends on the grand theories but4 rather4 on the abilit) to encourage others to take actions. t also de'ends on the credibilit). +he leader’s vision needs to be credible. /eo'le need to 'erceive the credible actions that the) can take and that the) eel the) can control. +hus4 huan scale or inter'ersonal skills is i'ortant to leaders in anaging change.
S'GGESTION
&eadershi' actors could enhance assessent in e'lo)ee develo'ent. 0/ oicer %ho act as a leader could increase his ca'abilit) in 'roviding eedback to 0/ subordinates about their behavior4 counication st)le or skill. +he Oicers4 their 'eer4 anagers a) 'rovide inoration4 identi) oicers %ith anagerial and easure current anager’s strength and %eaknesses. Counication and su''ort in assessent are i'ortant because the) are ke)s to bounding to all e'lo)ees in 0/
0/ leader should 'a) ore attention to recognition and re%ard or oicers in their dedicated career in 0/. t could enhance oicers %orking 'roductivit). &eadershi' skill such as counicative is needed because it is ver) useul to acilitate oicer’s need to anageent. 8isci'line and su''ort is i'ortant to be ore e'hasized in i'leent
LEADERSHIP IN PRACTICE ADS 607
recognition and re%ard thereore it %ill create a high %orking 'roductivit) and could 'roduce a rearkable out'ut to 0/.
0/ leader should 'a) ore attention in his entoring and coaching 'rogra. iving the o''ortunit) to other senior oicer to be a entor or a coach to other ne% oicer is a good chance to 'rove their abilit) in their %ork. +hereore involving all oicers in this 'rogra is a necessit) and could enhance e'lo)ee develo'ent4 res'onsible4 encouraging and su''ortive are the essence in enhancing inter'ersonal relationshi'.
$E%E$ENCES
1. Bennis4 *arren4 and Burt 7anus4 &eaders, +he trategies or +aking Charge4N 7e% Aork, Ear'er >o%4 169".
LEADERSHIP IN PRACTICE ADS 607
2.
8at4 >ichard &.4 &eadershi', +heor) and /ractice4N Orlando, 8r)den /ress4 1666.
(12251"1. 3.
8e/ree4 Ma@4 &eadershi' is an #rt4N 7e% Aork, 8oubleda)4 1696.
!.
Ea)s4 >ichard4 nternal ervice 0@cellence4N arasota, uit 0@ecutive /ress4
166$. ".
/eters4 +o4 +hriving on Chaos, Eandbook or a Manageent >evolutions4N 7e%
Aork, Ear'er >o%4 169G. $. Visit Maril)nn #lleann at %%%.M%[email protected]
G. htt',==%%%.%hatakesagoodleader.co=s%otSanal)sis.htl 9.
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