A study on the interpersonal challenge that leaders face in their Research Paper

A study on the interpersonal challenge that leaders face in their professional lives - Research Paper Example Leaders are required to be sincere as well as fully committed to their professions as well as to their leadership. However, sometimes, a leader fails to fulfil both responsibilities due to certain reasons. In order to overcome such issues, the leader follows certain principles and theories, determined to turn around the crisis they face in their professional lives. In 2007, the researchers of Centre for Creative Leadership (CCL) conducted a study on the leadership trends in business and found that the leadership face various challenges as a result of new innovations, competitors with greater talent and potential, collaboration and globalization. OBJECTIVES OF THE RESEARCH: To understand the challenges of risk management that the leaders face in business. To examine the trends in leadership. To understand the various impacts of challenges of risk management. To find solutions to these challenges. To draw a conclusion by justifying the solutions for these challenges Here, the paper emp loys various scholarly journals and other resources for the purpose of research, and the study is based on interpersonal challenges the leaders or business executives face in the organization. This project relates with SI as it is one of the topics, which students can understand through SI by way of discussion and such other forms. This topic must be a taken in Peer Assisted Study Session (PASS) and the ideas of this study can be taken from the SI programs. The various challenges the leaders face in their professional lives are one among the popular topics of debate currently. Hence, the relevance of this study is understood and acknowledged. RESULTS OF THE RESEARCH: In the modern economy, all areas in leadership face several challenges. In the business context, there are mainly two types of challenges: internal and external. Here the research focuses on the external interpersonal challenges faces by the leaders in their professional lives. These challenges are experienced due to la ck of direct control in areas such as market segment and other fluctuations within the industry. The organizations all around the world aim to go for the best leadership approach, as it is one of the fundamental as well as crucial elements responsible for the overall performance of a business. All types of business are interconnected with the present economy, thus demand, inflation, deflation, market etc influence the business to a large extent. Therefore, even a slight fluctuation in these factors can impact the performance of the organization. In these cases, the leaders do not have control over such factors, thus it transpires that a business concern faces more external changes than internal ones. Based on the study, various results have been obtained, and a crucial factor identified was the global economy. It is a fact that the global economy is still a little unstable since the economic crisis of 2007. The crisis occurred as a result of huge amounts of debt and as a consequence , political issues also emerged. A lot of fiscal adjustments had to be made due to the impact caused by the economic crisis. †The challenges posed by the Global Financial Crisis have impacted leaders of all major Businesses† (Anwar 2). Of these challenges, faced by the leaders, risk management is one of the most important factors to be considered. Risk management includes low prices of assets, diminished liquidity in markets