Michael Rubens Bloomberg
In the world of business, Michael Bloomberg stands out as one of the most phenomenal transformational leaders of our time. Bloomberg is an author, entrepreneur, and politician with a lengthy stint as mayor of New York City. He has always made it his lifelong objective to improve conditions in society using the wealth he has accumulated over the years. Bloomberg’s successful career began at Salomon Brothers brokerage firm where he dabbled in securities before deciding to move on to new endeavors and start his own private enterprise (Bloomberg 88).
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To many, he is known for his role as the chief executive officer (CEO) of Bloomberg L.P which is renowned globally as a major player in the business sector. Bloomberg now dabbles in providing financial services and computer software systems to firms in the financial sector. Apart from being a leader, he has also played a major philanthropic role in society and has even gone as far as pledging to give half of his wealth to charity. However, Bloomberg is better known for being a transformational leader who has always strived to improve the field of business. It is therefore critical to review Bloomberg’s communication abilities and how it supports his transformational leadership capabilities.
Bloomberg as a Transformational Leader
One of the most evident transformational leadership traits that Bloomberg espouses is his ability to embrace self-management and lead by example. He is perhaps best known for holding numerous conferences for staff members with the primary objective of educating them on the importance of self-management in business. Apart from hosting leader speakers such as Aaron Levie and Alexander Osterwalder, Bloomberg also plays a major role in these meetings by participating directly and interacting with those in attendance. Furthermore, it is during these meetings that he communicates important information regarding self-management to his audience and the best techniques to apply when seeking to improve abilities. Bloomberg has always embraced his talkative nature which he now uses to reach his audience when imparting important knowledge (Avolio). His use of open-ended questions during routine meetings allows him to have an intimate session with participants who are always encouraged to share their ideas. It is through this model of communication and interaction that important knowledge on self-management is shared in addition to its benefits.
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Bloomberg asserts that it is only through self-management that a business team can create a consumer good that people require before going on to monetize the product. This model has worked for him over the past two decades and the primary reason why he is ranked among one of the richest men in the United States. A thorough analysis of the market allows the company to create a product that is in popular demand before going on to reap the benefits. The profits made from this investment improve the product and goes on to create opportunities for the company.
Bloomberg has also mastered the art of developing and sharing a collective conscience in an organization. He does this by focusing on Bloomberg L.P’s primary objectives and how it can begin by developing from within. The creation of a functioning internal operating system is linked to a clear collective conscience where central attitudes are shared between team members (Rosen and Swann 246). It allows each group member to develop a sense of belonging and work to achieve goals that have been set by top management. It impacts all participants and challenges them to develop a new mentality that will ultimately catapult them to greatness. Additionally, a greater sense of connection develops between staff members within the organization which then fosters the development of a new mentality. Progress then becomes a reality especially since the organization soon expresses a high degree of consistency when embracing positive changes. The prevailing attitude is also fine-tuned to develop a new perspective centered on all members and their ability to acquire assets. The final result of this framework is the decentralization of the decision-making process where teams are empowered to make executive decisions. It, therefore, builds confidence levels in staff members which then allow them to make important decisions while becoming more accountable to the organization. Insight is also shared between members and functions a way of expanding the organization’s wider network. The use of cross-functional teams has been the highlight of Bloomberg’s career. He has used these individuals to equip staff members with diverse skills that make it possible to develop solutions to a variety of problems. Bloomberg’s communication skills and particularly his ability to compliment his employees for their contribution is also one of the reasons why his company has maintained a steady growth rate. Employees eventually develop a sense of fitting which results in improved outcomes.
Bloomberg is also the epitome of keeping one’s ego in check. It is a technique that has benefitted him over the years and taught him that human beings are fallible. Bloomberg has, therefore, always been open to criticism from members of staff and his inner circle. Legitimate concerns are always listened to before designing an appropriate intervention technique bound to rectify any misdoings. Bloomberg now embraces failure readily in a bid to improve himself and his organization’s overall standing in the market. He does this by embracing failure and trying out new approaches in a bid to make noticeable changes that will eventually benefit the organization. It is only through sheer boldness that a business executive can expect positive results that will aid a firm in making headway in the business sector.
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Bloomberg honed his skills through trial and error before developing workable solutions to specific issues confronting a company (Randolph). In particular, he is against the finger-pointing culture common in leading companies when disaster strikes. Instead, Bloomberg embraces a culture of forgiveness where every member acknowledges their part in the fiasco and cooperate with each other to introduce corrective measures. Moreover, success is shared by all members to create a clear understanding of strategies that work and capitalizing on them. Bloomberg has, time and again, displayed his professional listening skills and his ability to act on his employees’ proposals. Listening skills have allowed Bloomberg to pick important and accurate facts from his advisors with the objective of growing his brand.
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Michael Bloomberg is one of the most influential transformational leaders of our time. His communication abilities have contributed greatly to bolstering his leadership capabilities in a dynamic business environment. Self-management and embracing a conferencing culture has allowed Bloomberg to come to insightful conclusions that have influenced his decision. Collective consciousness has allowed him to compliment company employees while the art of collective consciousness has been instrumental in fostering his listening skills and applying fresh ideas in the company.
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