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However, cost leader companies do compete on price and are very effective at such a form of competition, having a low cost structure and management. [ 1 ] Other aspects of cost leadership include tight operational controls across the business, avoidance of customers whose needs incur additional costs, and limits on expenditure in areas such as ...
At the beginning low-cost budget airlines chose "cost focused" strategies but later when the market grew, big airlines started to offer the same low-cost attributes, and so cost focus became cost leadership! [5] A cost leadership strategy may have the disadvantage of lower customer loyalty, as price-sensitive customers will switch once a lower ...
Subsequently, leadership was no longer characterized as an enduring individual trait—situational approaches (see alternative leadership theories below) posited that individuals can be effective in certain situations, but not others. The focus then shifted away from traits of leaders to an investigation of the leader behaviors that were effective.
Fiedler's contingency model is a dynamic model where the personal characteristics and motivation of the leader are said to interact with the current situation that the group faces. Thus, the contingency model marks a shift away from the tendency to attribute leadership effectiveness to personality alone. [5]
Leader development is described as one aspect of the broader process of leadership development (McCauley et al., 2010). Leadership development is defined as the expansion of a group's capacity to produce direction, alignment, and commitment (McCauley et al.), in contrast to leader development which is the expansion of a one's ability to be effective in leadership roles and processes.
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In economics, organizational effectiveness is defined in terms of profitability and the minimisation of problems related to high employee turnover and absenteeism. [4] As the market for competent employees is subject to supply and demand pressures, firms must offer incentives that are not too low to discourage applicants from applying, and not too unnecessarily high as to detract from the firm ...
Other synonyms for effectiveness include: clout, capability, success, weight, performance. [13] Antonyms for effectiveness include: uselessness, ineffectiveness. [13] Simply stated, effective means achieving an effect, and efficient means getting a task or job done it with little waste.