The effect of Leader Member Exchange(LMX) on employee's performance Dissertation

The effect of Leader Member Exchange(LMX) on employee's performance and turnover rate (or employee retention) - Dissertation Example According to the research findings it can therefore be said that leadership is not just a word, it is a responsibility, and it is the step towards the success story for any organization. Leadership qualities cannot be developed overnight but continuous effort put in by the people can make them achieve the price tag of leadership which brings along responsibility and further expectations to perform beyond potential. Organizations, small or big have and will always require people who can mould themselves according to what the situation demands and bring the best solution on the table. Leadership qualities are also measured on the basis of employees’ performance and their job satisfaction. A leader can be called a successful torch bearer only if his/her followers equally contribute towards the growth of an organization. Leadership in itself is an important quality but there are certain factors which define the true leadership qualities a leader should possess. These essential com ponents to develop leadership qualities at par are- a) Setting an example and motivating others b) Enhancing skills c) To be an influential figure d) Finding a solution to doubts and ambiguities e) Honesty f) Being ethical g) Bringing in the desired change h) Managing cultural assortment i) Rewarding for the success. Leadership is a sequence, a process which has different elements intact to it, prevailing towards the successful attributes of a true leadership quality. These elements of leadership are of three types- the leader, the following group or the followers and finally the substance. A leader is the one who sets an example, leads from the front, motivates, sets objectives and inspires others to grab the opportunity in achieving these objectives. It is believed that every individual has an inborn