Fostering a company culture of accountability, ownership, and workplace autonomy.
Transformational leadership encourages, inspires, and motivates employees to innovate and create change that can help to grow and shape the future of a company. This is accomplished by setting an example at the executive level through a strong sense of company culture, employee ownership, and independence in the workplace.
In a recent sold-out virtual conference Iranian entrepreneur and founder of the largest educational holding in Iran, Mahan Teymouri teamed up with New York Times Best Selling Author Darren Hardy to address pertinent leadership issues. Considered as a pioneer in the field of financial intelligence and education Mr. Teymouri spent many years of his life educating the people of the Middle East in economics and management.
This conference came at a unique time in the Middle East and Iran’s history as over the last decade the area has attracted considerable wealth. Management is one of the most complex and challenging sciences in the world and requires the use of up-to-date resources to stay abreast. The presence of large companies in the Middle East may cause small business managers to face many difficulties and the need for up-to-date knowledge of business leadership is highlighted. Addressing the concern of management with a fresh perspective, Mahan breaks down transformational leadership.
What is transformational leadership?
Transformational leaders inspire and motivate their workforce without resorting to micromanaging. Instead, leaders trust trained employees to take authority over decisions in their assigned tasks. This leaves room for employees to be more creative and find solutions to problems. Employees on the leadership track will also benefit from transformational leadership through mentorship and training.
What are the characteristics of transformational leadership?
Leaders who embrace the transformational style of leadership encourage the motivation and positive development of employees. By fostering an ethical work environment with clear values, standards and priorities a company culture is built that encourages employees to move from a mindset of self-interest (only working to earn a salary) to an attitude where they are working for the common good. This leads to high job satisfaction among employees and encourages higher retention rates.
Transactional versus Transformational Leadership
On the opposite end of the spectrum lies transactional leadership. It relies on motivating employees through a system of reward and punishment and requires supervision, oversight, organization, and performance monitoring. It is a leadership model that does not try to innovate, instead, it is rooted in consistency and predictability. Errors and faults are closely investigated with the overall goal to create efficient, routine procedures. This style is best suited for organizations that require strict adherence to routine and structure, areas where businesses want to reduce chaos or inefficiency. Transactional leadership can be used to create a consistent development process.
Transformational leadership, on the other hand, is best suited to support agile environments, especially where failure carries less risk and leaves people free to come up with new ideas.
Who is Mahan Teymouri?
Born on the 16th of June, 1991, Mahan Teymouri began his life in Iran in very humble surroundings. Today he is recognized as a top manager and entrepreneur by several prestigious Iranian publications. Having published over 30 books in the field of business management, Mahan Teymouri dedicated many years of life educating the people of the Middle East for free.
The founder of Business Coaching and financial intelligence in Iran has seen over 7 million people take his financial intelligence courses. To date, Mr. Teymouri is the owner of one of the largest educational holdings in Iran and has produced more than 1,000 hours of free financial content. His goal is to empower people to attain financial freedom and he has held joint conferences with big names like Darren Hardy and Jack Canfield.
The leadership style that a manager, CEO, or executive embraces has a notable impact on employee retention and job satisfaction. Through the power of transformational leadership, Mahan Teymouri took a simple bookstore and turned it into the largest online bookstore in Iran in one year. This was possible through innovative problem solving and the flexibility and creativity that the transformational leadership style encourages and serves as a great example of what is possible.