Week 5 Individual Assignment Essay Example | Topics and Well Written Essays - 2250 words

Week 5 Individual Assignment - Essay Example The purpose of this paper is to describe the strategic plan, leadership considerations, and other factors that will allow Gene One to achieve the transformational process successfully. The former CEO of the company Don Ruiz had the right idea in mind when he developed the idea of turning the company into a publicly traded entity. Don has passed away and Gene One is currently in dying need of a new CEO that is able to transform the company so that it can become an efficient public enterprise. The three primary goals of Gene One are to grow its revenues by 40%, to raise additional capital, and to develop new products. The timeline for completion of the IPO process is a maximum of 36 months. Prior to his death Don Ruiz had made remarks in the scenario that he might not be the right person to lead the company in the transformational process. Now that the company has to fill his vacancy the human resource department must recruit a new CEO. This CEO has to have the right leadership style to inspire the staff into believing that the direction of the company is the right path. The chief executive officer position is the top managerial position within a corporation. Due to the changes that are occurring within Gene One the new CEO has to be a true leader in order to ensure his troops follow the manager’s guidance. A leadership style that is well suited for the CEO position at Gene One Corporation is a charismatic leadership style. A charismatic leader can be defined as a leader who by force of their personal abilities is capable of having a profound and extraordinary effect on followers (Schermerhorn & Hunt & Osborn, 2003, p. 300). An example of a charismatic leader is Martin Luther King. Charismatic leaders have high moral beliefs, great interpersonal and communication skills, and the ability to inspire others to achieve higher levels of performance. At Gene One