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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 ).
This leadership style has been associated with lower productivity than both autocratic and democratic styles of leadership and with lower group member satisfaction than democratic leadership. [9] Some researchers have suggested that laissez-faire leadership can actually be considered non-leadership or leadership avoidance. [18]
The Multifactor Leadership Questionnaire is the most popular way to identify leadership style. The 7th factor correlates with Laissez-faire leadership, while contingent reward and management by exception align with transactional management, and the last 4 describe transformational leaders.
In laissez-faire or free-rein leadership, decision-making is passed on to the subordinates. (The phrase laissez-faire is French and literally means "let them do"). Subordinates are given the right and power to make decisions to establish goals and work out the problems or hurdles, and are given a high degree of independence and freedom to ...
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.
Lewin often characterized organizational management styles and cultures in terms of leadership climates defined by [13] (1) authoritarian, (2) democratic and (3) laissez-faire work environments. He is often confused with McGregor with his work environments, but McGregor adapted them directly to leadership-theory.
But thanks to its 1853 constitution, which was modeled after the U.S. founding document, it became a more or less a laissez faire democracy. Tellingly, ...
Gladstonian liberalism is a political doctrine named after the British Victorian Prime Minister and Liberal Party leader William Ewart Gladstone.Gladstonian liberalism consisted of limited government expenditure and low taxation whilst making sure government had balanced budgets and the classical liberal stress on self-help and freedom of choice.