Page 479 - Encyclopedia of Business and Finance

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Leadership

pharmaceuticals enjoy patent protection, but when the may deliver an energetic speech, hands waving in the air,
patent expires, the drug becomes generic and anyone can to thousands of people gathered in a plaza.
make and sell it. The widespread fascination with leadership may be
because of the impact that leadership has on everyone’s
Copyrights. Copyrights give authors protection for their life. Stories of heroic leadership go back thousands of
works for their lifetime plus seventy years. Works include years: Moses delivering thousands of Hebrews from Egypt
literary works, musical compositions, and computer soft- or Alexander the Great building a great empire. Why were
ware. While there are exceptions, it is illegal to copy tapes, certain leaders able to inspire and mobilize so many peo-
compact disks, or software. This is theft and is punishable ple, and how did they achieve what they achieved? There
by fines. It is important for business today to set high legal are so many questions that beg answers, but many remain
standards for employees for proper business use of copy- as puzzling as ever. In recent decades, many researchers
righted material. have undertaken a systematic and scientific study of lead-
ership.
Trademarks and Trade Names. Substantial growth has Leadership is defined in so many different ways that
been made in the area of trademarks and trade names it is hard to come up with a single working definition.
since the 1990s. Trademarks and trade names can be of Leadership is not just a person or group of people in a
enormous value, and businesses work hard to protect their high position. Understanding leadership is not complete
property. Coca-Cola and Coke, both the names and the without understanding interactions between a leader and
distinctive script, are among the best known of these. his or her followers. Neither is leadership merely the abil-
Names and logos are valuable property. Universities, for
ity or static capacity of a leader. The dynamic nature of the
example, often make substantial money by licensing use of
relationship between leader and followers must be
their name, logo, and other associated symbols on cloth- researched. In these unique social dynamics, all the parties
ing and other items. Trademarks and trade names are reg-
involved attempt to influence each other in the pursuit of
istered with the federal government. Exclusive use of them
goals. These goals may or may not coincide as participants
lasts as long as they are used.
actively engage in defining and redefining the goal for the
SEE ALSO Careers in Law for Business; Ethics in Law for group and for themselves.
Business Thus, leadership is a process in which a leader
attempts to influence his or her followers to establish and
accomplish a goal or goals. In order to accomplish the
BIBLIOGRAPHY
Barnes, James A., Dworkin, T. M., Richards, E. L. (2006). Law goal, the leader exercises his or her power to influence
for business (9th ed.). Boston: McGraw-Hill. people. That power is exercised in earlier stages by moti-
Charley, Robert N. (2006). The legal and regulatory environment vating followers to get the job done and in later stages by
of business (13th ed.). New York: McGraw-Hill. rewarding or punishing those who do or do not perform
Cheeseman, Henry R. (2006). Contemporary business and online to the level of expectation. Leadership is a continuous
commerce law: Legal, Internet, ethical, and global environments process, with the accomplishment of one goal becoming
(5th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.
the beginning of a new goal. The proper reward by the
Jennings, Marianne M. (2006). Business: Its legal, ethical, and
leader is of utmost importance in order to continually
global environment (7th ed.). Mason, OH: Thomson West.
motivate followers in the process.
Mann, Richard A., and Roberts, Barry S. (2006). Smith and
Roberson’s business law (13th ed.) St. Paul, MN: West. What does leadership do for an organization? If lead-
ership is defined as a process involving interactions
between a leader and followers, usually subordinate
Carson H. Varner employees of a company, leadership profoundly affects the
company. It defines or approves the mission or goal of the
organization. This goal setting is a dynamic process for
which the leader is ultimately responsible. A strong vision-
LEADERSHIP ary leader presents and convinces followers that a new
Leadership is a fascinating subject for many people. The course of action is needed for the survival and prosperity
term conjures up a familiar scene of a powerful, heroic, of the group in the future. Once a goal is set, the leader
triumphant individual with a group of followers returning assumes the role of ensuring successful accomplishment of
home after winning a national championship or a war the goal. Another vital role of leadership is to represent the
against the evil enemy. They all march through town sur- group/organization and link it to the external world in
rounded by a crowd waving flags. An enthusiastic orator order to obtain vital resources to carry out its mission.

456 ENCYCLOPEDIA OF BUSINESS AND FINANCE, SECOND EDITION