Paul Hersey and Ken Blanchard introduced the “Life cycle theory of leadership” in 1969. Afterward, they renamed the theory “situational leadership.” However, it is still famously known as the Heresy and Blanchard Model. According to them, “The Hersey-Blanchard Situational Leadership Model allows business executives and leaders to be flexible in their leadership approach and in …
Definition: A retrenchment strategy helps an organization reduce its operations or cut expenses to achieve a financially stable position. Businesses adopt retrenchment strategies due to economic downfall, losses, or legal issues. A retrenchment strategy can be used to downsize or restructure the business. Types of Retrenchment Strategies Liquidation Turnaround Divestment Liquidation An organization sells off …
Definition: In decision-making and communication, psychological barriers act as mental roadblocks. Such barriers impair an individual’s ability to make informed decisions and hinder effective communication. Often called emotional barriers, these psychological impediments have gained attention from reputable institutions like the Project Management Institute (PMI, USA) and the American Psychological Association. Types of Psychological Barriers Conclusion …
Definition: Informal communication is casual discussion among coworkers. It is unofficial and does not conform to any rules, processes, or chain of command. Informal communication can happen within the same level or between higher and lower-level staff and is based on the social relations formed inside the workplace. Informal communication helps build relationships and create …