BY:JOSH CHAPPLE

Formally, leadership is defined as the process by which an individual influences others in ways that help attain group or organizational goals.” (Greenberg, 2010).

Managers are those in charge of implementing the visions of leaders to achieve the organizational goals.

Many leaders usually get caught up in the management aspects of their job.

Legitimate power- The power associated with the position (Greenberg, 2010).

Reward power- The power to control rewards others receive (Greenberg, 2010).

Coercive power- The capacity to control punishment (Greenberg, 2010).

Information power- The power a person has due to access to valuable date or information (Greenberg, 2010).

Born March 6,1926 Washington Heights, New York Accomplished clarinet and saxophone

player Played at the prestigious Juilliard

School

New York University• Bachelors in Economics in 1948• Masters in Economics in1950• Doctorate in Economics in1977• Also has honorary degrees from Harvard,

Pennsylvania, Yale, and Notre Dame

Townsend-Greenspan• Founded in 1954• Economic consulting firm in New York City• Used computer aided models to forecast

economic futures

Domestic Policy Chairman (Nixon Admin.)

Chairman of Economic Advisors

Chairman of the National Commission on Social Security Reform (1981-1983)

Consideration- Mr. Greenspan in his tenure over the Federal Reserve considered all possible outcomes in his decisions to tweak monetary policy.

Initiating Structure- Greenspan initiated a structure of “tight money” because he felt that if he could control inflation the economy would remain stable.

Research shows that people who possess these two traits are extremely successful in the business community.

“Showing consideration is so beneficial that it leads to low levels of turnover and absenteeism. At the same time, initiating structure is useful in promoting high levels of efficiency and performance”( Greenberg 2010)

Steered the American economy out of the recession of the early 1990s

Dot-com bubble September 11th terrorist attacks “According to ABC news, in 1998

unemployment was at a 28 year low, inflation was at a 11 year low, and consumer confidence was as high as it had been in 30 years” (about.com)

Education led to big opportunities Greenspan possesses the 2 major

characteristics of a successful leader (Consideration/ Initiating structure)

Achieved success by being a leader and didn’t over “manage” the Federal Reserve