Richard Grasso

Power and influence are two very important characteristics to have in order to be an effective leader. In class we defined power and the capacity to influence, and influence as all about action and power in motion in an attempt to influence someone. In order to distinguish between the two we explained it like this, power is like when you are at the top of a ski slope just looking down (potential energy). Influence is all about motion, or kinetic energy. This is the energy being released when skiing down the hill.

Richard Grasso worked his way from the lowest of the low in the New York Stock Exchange to becoming CEO years later. He was the kind of man that knew all the ins and outs of the NYSE. We discussed in class where power comes from and can relate these sources to Grasso and his success within the walls of the stock exchange. The 5 sources of power are referent, expert, coercive, reward, and legitimate. I personally think that Grasso uses coercive power because he was known to come off as intimidating and was “very good at destroying people.” Referent power also applies to Grasso because he was very good and maintaining interpersonal relationship with people. He believes that surrounding yourself with people that have similar interest will keep you on your toes.  This is interesting because he could be the complete opposite of this and come off as a prick to everyone. A final source is expert power. Grasso has been working at the NYSE since he was 22. He knew what kept the stock exchange running. With many years of experience he had something no one else had, and that’s, knowledge.

          Wednesday in class we discussed influence and the extent that pharmaceutical companies go to for their product to be the best in the market. These large companies have the capabilities of investing billions into free gifts, lavish dinners, or even a round of golf at the doctor’s favorite country club. I personally think that this is a good way for these companies to influence doctors to prescribe their medications over the competing brands. These companies are spending millions of dollars on research and experimental testing; so pharmaceutical representatives want to make their companies drug known. By offering free gifts like pens, mugs, and note tablets, the companies goal is to make doctors recognize a certain brand. Think about it this way, doctors use a pen to write out prescriptions all day, for multiple types of medication. If he happens to be writing out a prescription for a certain brand of birth control, he happens to pull out of his pocket a pen that has some birth control company on it, chances are he is going to prescribe that certain brand.

            The power of influence is not only present in the pharmaceutical industry. It also ties into common every day appearance, working in groups, and cooperation. Physical appearance is an important factor in being capable of influencing people. The way you dress is another important factors. You do not want a lawyer representing you if he or she is dressing in slippers, sweatpants, and a cut off tee shirt. When working in groups we tend to work with people that are similar to us. I personally think that we as humans adapt to create a social bond with people that we share a common interest with. Cooperation between individuals can be something like dividing a task at work by 50%. You take half and your partner takes the other half. All three of these types of influence create a sense of “liking.” When positive emotions bleed together, a strong healthy relationship is formed that will be hard to break. 

Women in Leadership

Corporate

Top CEO’s, board seats 15-16%.

Political

109 heads of state, 9 are women.

Non-Profit

Usually lead by more women, only 20% of women are at the top.

            I agree with Sandberg and think that women can be at fault in a situation like this. Women are not making it to the top in any profession. More and more women are starting to either be stay at home moms, because their husband could be bringing in a large salary. 

Causes of inequality can start with the lack of women staying in the workforce. More and more women are dropping out for various reasons. Three messages with women need to remind themselves but don’t will be discussed in the paragraph following this. Other causes of inequality are the fact that women in the workforce have harder choices between professional success and personal fulfillment. Studies have shown that when women were asked how they did something, they respond with “someone helped me.” When a man was asked the same question, they responded with “it’s because I’m awesome.” I get from this that women lack confidence when working with male co-workers because they constantly feel belittled.

Women need to frequently remind themselves of three messages that will help them succeed in the competitive “higher up” positions of the business world. The three messages that spokeswoman, Sheryl Sandberg identified are 1. sit at the table, 2. make partner a real partner, and 3. don’t leave before you leave. Sit at the table refers to women and how they need to get involved in discussion instead of sitting against the wall. Getting their voice heard will help their ideas be noticed. Make partner a real partner means that the woman and her husband need to split the responsibilities 50%. This includes work, household jobs, and childcare. This takes less responsibility off the women and divides it equally. The final message is don’t leave before you leave. In other words, don’t go on vacation early. Women that make decisions too far in advanced start losing interest in promotions or projects and start thinking about how to fit a child into their schedule, then two years passes and they are finally going back to work. 

Leader vs. Manager

In class Wednesday we discussed the differences between a leader and a manager. We started by constructing a t-table and labeling one side as leadership and the other as management. A leader is someone who brings original ideas to the table of what their future could be or look like. They provide strategy, inspiration and have an imagination. Some objectives for a leader within an organization is to provide a sense of direction, motivate and inspire workers. On the other side of the t-table we wrote down characteristics of a manager. A manager is responsible for taking the vision of the leaders and put it into perspective and make that vision happen. They provide resources that are needed to achieve the goals within the firm. A few responsibilities of a manager are planning and budgeting, organizing and staffing, and finally controlling and problem solving.

            After making the distinction between a leader and manager, I related the characteristics to the article that was assigned to read called Vista-Sci Health Care Inc. The two key players in this article are a lady named, Jamie Hernandez and Michael Upshaw. We found Jamie to be outgoing and open with her feeling. On the negative side she likes tasks to be done her way, and her way only. A manager like this could be good for Vista-Sci Health Care because it means that she is motivated in completing her work, but on the opposite side of that Jamie might cause conflict with other workers because of her stubbornness. Michael Upshaw also has many creative ideas to bring to the table. He is less of a risk taker, but does careful accurate work. If told to do something he will gladly do what is asked of him but nothing more. This could cause conflict because his lack of motivation might not help the company excel. Between the two candidates, I personally believe that Michael would better fit this position. He does careful, accurate work and completes the job on time. Jamie has had a past history of taking time off and not being able to complete her goals for her company while taking time off. If hired, the senior VP of Vista-Sci Health Care will have to work with Michael to get him to come out of his shell.

            Carefully looking at characteristics of a leader/manager I would say my boss at the restaurant I work at called La Primavera Italiano Ristorante, could classify as a leader. Even though he has a lack of education (didn’t go to college) his experience working has created a leader. Aside from La Primavera, he also owns 2 other businesses. His type of management is similar to a book that I am reading for my finance class called, The One Minute Manager. If caught doing something wrong he will kind of have a one-minute reprimand. He will briefly tell you what you did wrong and correct your mistake while looking you straight in the eyes. One problem with this approach is his ability to remain calm. He has a lot on his plate and can be stressed out a lot. When doing this one-minute reprimand, the tone in his voice can come off as mean. This just to make sure you understand what you did and to make sure you will not make the same mistake again.