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Laissez-faire (/ ˌ l ɛ s eɪ ˈ f ɛər / LESS-ay-FAIR; or / l ɑː ˌ s ɛ z ˈ f ɛ. j ə r /, from French: laissez faire [lɛse fɛːʁ] ⓘ, lit. ' let do ' ) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations ).
The laissez-faire leadership style is where all the rights and power to make decisions is fully given to the followers. This was first described by Lewin, Lippitt, and White in 1939, along with the autocratic leadership and the democratic leadership styles.
This leadership style can be seen as the absence of leadership, and is characterized by an attitude avoiding any responsibility. Decision-making is left to the employees themselves, and no rules are fixed. Laissez-faire is the least effective leadership style, when measured by the impact of the leader's opinion on the team.
This type of style works best in organizations with flatter decentralized management. Typically, the staff is highly skilled, more so than the management, and is trusted with setting the bar for innovation and setting the objectives. [1] The advantages of the Laissez faire are increased innovation and creativity through the autonomy of expert ...
It's an inconvenient truth, to borrow a quote from Al Gore, but it's one that investors should heed, if they seek a U.S. economy capable of sustainable GDP growth and an investment stance that's ...
The authoritarian leadership style, for example, is approved in periods of crisis but fails to win the "hearts and minds" of followers in day-to-day management; the democratic leadership style is more adequate in situations that require consensus building; finally, the laissez-faire leadership style is appreciated for the degree of freedom it ...
Laissez-faire leadership should not be confused with delegation of responsibilities, which is often associated with positive leadership; the main distinction of the laissez-faire style is an abdication of responsibility for the outcome when decisions are made by subordinates in the absence of managerial oversight.
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