KRB Industries is a U.S.-based multinational corporation that manufactures products worldwide. The company was founded in 1995 and has been running for twenty-five years, emerging as an influential industry leader on the automotive platform. As a firm based in Chicago, Illinois, KRB Industries enjoys its international presence by being active in over 20 countries and employing more than 5K executive leadership employees. The company offers innovative products in tandem with state-of-the-art technologies and is keen on sustainability issues. KRB Industries needs an inclusive executive leadership development program to sustain this achievement and remain the industry leader. This report will provide the components of the implemented program, which allows the company to develop and hold talented leaders who start driving organizational growth such as success.
Executive leadership is one of the vital elements necessary for organizational success and growth (Laureani & Antony, 2018). Human capital development in adapting to workplace dynamics may provide organizations with a competitive advantage by developing their leaders. First, it aims to identify and develop potential leaders or those who will become leaders within the company in several years. It involves providing the leaders with the necessary skills, knowledge knowledge, and experience to lead an organization and achieve its purposes. Implementing the executive leadership development program will further bridge a gap for talented leaders with competencies and mindsets to drive forward in developing organizational goals. This program aims to establish a leadership culture in which the employee does what his leader would typically do. The program will focus on training high-level executives and developing leaders at all organizational levels.
Launching the leadership development program for KRB Industries results in multidimensional effects. It will also ensure constant strength and sustainability of leadership supply that would minimize the risks regarding future shortages. This guarantees that the institution maintains a leadership shift during change or crises. Second, the program will foster a continuous learning culture among its employees by developing an attitude of constant training and development. According to Mallik et al. (2019), this will attract high employee morale and enthusiasm, resulting in a surge in productivity and performance. Ultimately, the program will also promote succession planning and talent management practices for the corporation to ensure that people in such leadership positions have at least the right moments.
The leadership structure for the program will be divided into three levels: senior leaders, middle managers, and future potential. The senior level will comprise the CEO, executive team members and other leadership positions available in an organization. Strategic and visionary skills will be developed on this level, which are crucial for sustaining the organization’s success in the long run. The midlevel managers will include departmental heads and team leader executives. At this level, the skills that will be encouraged include team building and effective problem-solving. An emergent leaders’ level will include employees who may be able to play a future role in leadership. Leadership basics would be mastered at this level via mentorship and practical application.
Leader competence assessment is one of the main stages of KRB Industries’ executive leadership development program. Through the evaluations, it will be possible to identify strong and weak qualities, define prospective future leaders and set directions for individual development (Clinton, 2018). These assessments will be undertaken through all stages of this program, using different methods including but not limited to self-assessment 360-degree feedback and competency leadership assessment.
The senior leadership level assessments will focus on higher-level facets of the leaders’ capabilities, including strategic thinking, change management and decision-making. The assessment of the middle-management level will be based on evaluating leadership competencies such as communication, emotional intelligence and problem-solving. The evaluation for the emerging leaders’ level will focus on evaluating simple leadership competencies such as teamwork, time management, and adaptability.
One of the theories that will be utilized in the assessment process is Transformational Leadership theory. This theory emphasizes that leaders can make their followers believe in a shared vision and acquire individual development, leading to innovative practices. With this theory in mind, the assessments will focus on measuring leaders’ abilities to show inspiring and motivating strengths through change or challenges by trying to enhance personal and team development.
Another helpful theory that will also be applied as a component of the assessment process is Situational Leadership Theory. This theory focuses strongly on the importance of a leader’s leadership style changing circumstances and team member’s requirements. The evaluations will focus on the ability of the leader to distinguish specific situations and modify their leadership style accordingly, as well as one’s resourcefulness for working with varied team members.
Feedback 360 is a tool that will be used in this process to develop leadership competencies. This check will provide a comprehensive report on an individual’s capacity to be as efficient as possible regarding their leadership aspects, and this will depend on individuals who have worked with them, such as seniors, peers, and juniors in ranking. Standardized surveys on the employees’ ability to perform under these leadership competencies, such as communication, decision-making, collaboration, and strategic thinking, will be availed from where information about employee performance can easily be obtained. Consequently, the 360-degree feedback assessment assists individuals in growing and realizing their potential; hence, it can serve as the foundation for a successful development plan.
This will be achieved through training, mentoring and experiential learning that KRB Industries’ leaders should use to improve their problem-solving skills with sound solutions. This will enable them to study and harness the critical thinking skills required in problem analysis questions (Hussein et al., 2019). The programs will cover several problem-solving techniques, tools, and decision mechanisms. This will ensure that the leaders have toolkits of different skills and approaches to supplement them with gadgets through which they can effectively meet every situation.
Mentoring will also contribute to the formation of problem-solving skills. Mentor trainers will be senior experts who drive mentorship and coaching to emergent leaders. Knowledge-wise, this type of mentoring is appreciated and allows mentees to see how their master handles difficult things. Further, the chief executives will also get personal improvement plans and continuous support to improve their problem-solving skills; problem-solving skills will be promoted using experiential learning approaches like simulations, case studies and practical projects. This will lead leaders to genuine business situations to deal with issues in safe and controlled environments.
A debrief session will also be held to provide leaders with information and comments on their method as a result of problem-solving. The executive leadership development program is a combination of formal and informal learning styles that may be used in KRB Industries to ensure training on crucial elements linked with the subject. This will ensure a holistic approach towards leadership training, whereby different learning styles and preferences are catered for.
A helpful strategy for enhanced leadership learning is formal classroom-style training. This may include workshops, seminars, and conferences that in-house or external subject matter experts will host. Topics discussed in such sessions range from leadership communication, conflict management, and strategizing to change implementation. These training sessions can be lively and exciting using case studies, group discussions, role plays, etc.
Besides structured training, informal approaches like job training, mentoring and coaching can also be used as part of the program. By doing such kinds of practice, the participants become acquainted with these methods and learn to apply their knowledge in real life (Lave, 2021). Lastly, mentoring and coaching promote individualized development because they allow for personal attention and constructive criticism, depending on the situation.
Human resource specialists apply various approaches to stay relevant to leadership training trends. Technology in leadership training has been a popular trend. Such platforms include online learning, video conferencing, and gamification of the learning modules. Such approaches grant extended movements to participants and the option for continuous progress monitoring. The other emerging trend emphasizes emotional intelligence and soft skills in leadership development. This describes the importance of self-awareness, empathy, and building relationships as essential components of outstanding leadership. HR practitioners also use a hybrid approach that combines classical learning methods with modern and futuristic techniques to enhance their learning.
In conclusion, implementing an orderly executive leadership development program at KRB Industries will bring many advantages to this organization. Besides, it will ensure sustainable leadership supply so the company will avoid facing a possible lack of leadership in future years (Mokhtar et al., 2019). With a reliable leadership pipeline, the organization can always have many leaders available to move into strategic positions at any time needed; this is achieved through orderly transitions in and out of top-class roles during periods like change or crisis.
Second, the program will promote a culture of lifelong learning and staff training that would allow employees to develop their skills for climbing higher. This will provide a highly motivated and energetic workforce that results in efficiency or performance. Second, the structured executive leadership development program will support this organization’s holistic succession planning and talent management policies. By continuously investing in developing its current and future leaders, KRB Industries will be able to deploy people with appropriate leadership skills at important where such individuals could lead the company on a journey towards accomplishing its long-term vision.
Additionally, a structured leadership development program will ensure KRB Industries remains competitive due to its ability to create strong and effective leaders who drive an increasingly dynamic business environment. These leaders will have the required skills and competencies to ensure that they can drive innovation, steer obstacles, and pursue success through all this for salable.
References
Clinton, R. (2018). The making of a leader: Recognizing the lessons and stages of leadership development. Tyndale House Publishers, Inc.
Hussein, M. H., Ow, S. H., Cheong, L. S., & Thong, M. K. (2019). A digital game-based learning method to improve students’ critical thinking skills in elementary science. Ieee Access, 7, 96309-96318.
Laureani, A., & Antony, J. (2018). Leadership–a critical success factor for the effective implementation of Lean Six Sigma. Total Quality Management & Business Excellence, 29(5-6), 502-523. Top of Form
Lave, J. (2021). The culture of acquisition and the practice of understanding 1. In Situated cognition (pp. 17-35). Routledge.
Mallik, A., Mallik, L., & Keerthi, D. S. (2019). Impact of employee morale on organizational success. International Journal of Recent Technology and Engineering, 8(4), 3289-3293.
Mokhtar, A. R. M., Genovese, A., Brint, A., & Kumar, N. (2019). Supply chain leadership: A systematic literature review and a research agenda. International Journal of Production Economics, 216, 255-273.
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