A decision making process can be defined as a mental process which involves selecting a specific course of action in cases where there are other alternatives. This usually results to an action or a choice opinion. Heller, (1992). Leadership on the other hand refers to the act of being in a state of influence or control over others with the sole aim of accomplishing a common goal. Leaders should therefore bare the responsibility of guiding others through the process of achieving the goals.
They should listen to the voice of others and make sound analysis before using their expertise to guide others through the process of decision making so as to achieve sound decisions. Harold, (1973). Decision making is therefore a very important entity in leadership. Decisions made wisely without wasting time depict a decisive, brilliant and successful leaders while on the other hand, leaders who seem to be indecisive and procastinative are viewed as weak leaders according to Marriot, (1998). It is important to note that as a leader, one is required to make tough decisions whether one likes it or not.
As a result, it is important for a leader to able to understand the pros and cons of decision making and be ready to gamble with the prevalent risks involved. Leaders are usually expected to deliver results which usually depend on the decisions made. There are however several ways of improving decision making. Firstly before making any decision, one should be ware of the expected results and be ready to face the consequences. Most leaders usually get lost in the detail and to overcome this temptation, they should keep their focus on the wider perspective or the bigger picture.
This is because, according to Brodie, (2008) getting lost in the detail hinders the goal achievement. In order to make informed decision decisions, leaders should seek relevant information. This enables making decisions based on true facts. Another factor that affects good decision making among leaders is the fear of other peoples opinions regarding to their decisions. Kotelnikov, (2001) voices that leaders are advised not to worry about other peoples opinions instead they should accept the fact that people will always have different opinions every time a decision is made.
They should therefore not let popularity derail their decisions so as to be able to comfortable keep focused on the results after putting the decision into action. The final step towards to make an informed evaluation of the outcomes of the decisions and actions. This in turn develops future decision making skills and judgment further. Generally, in everyday life we are often faced with the challenge of making decisions without having the chance to evaluate the thinking steps and actions systematically.
As a good leader, the most crucial decision making strategy is usually keeping an eye on the set goals and make informed decisions. Porat, (2008). In conclusion decision making is a very important entity in leadership. In fact, it is a requirement that every leader must have decision making skills which is part of good leadership skills. Rolling Stones Mick Jagger displays participative leadership skills in line with leadership theories in place today. The Rolling Stones juggernaut is a business empire that has rolled its way to success over the years due to a combination of effective leadership skills gained over the decades.
Mick Jagger and the Rolling Stones band have involved other individuals and corporate’ in the business process to make it as successful as it has become. In spite of his eloquence he admits that what he knows about business he has picked up along the way. He has about 4 decades of experience in the industry and at sixty years of age, this being the typical age of most CEOs he is at the top of his game. The band has not written any significant new material in the past decade but their fans are still gobbling up their old albums and concert tickets in the millions as a result of their business prowess.
Wang (2010). From song rights, merchandising, touring, and sponsorship deals with big names like Microsoft, Sprint and Anheuser-Busch, the band has been able to generate gross revenues of about US $1. 5 billion since 1989. The Rolling Stones band are global, pay taxes, have profit and loss accounts, budgets, accountants, lawyers , investments and consequently these operations mirror those of large multinational organizations. They have a grip on their affairs and this is in line with the participatory theory of leadership.
Incidentally Mick Jager studied economic history at the London School of Economics and surrounds himself with a group of executives to whom he delegates business decisions beyond his scope according to Greenfied, (1981). According to Jagger understanding the various facets of the business organization is paramount in that these arms need to interlock like in a well oiled machine in order to facilitate smooth day to day operations. During tours the band gets a lot of revenue which dries up when the tour ends. Record sales of new albums and releases of old ones tend to substitute this income in a stable manner.
Royalties from music rights tends to be more predictable. At the top of the Rolling Stones hierarchy is the partnership between Jagger, Richards, Watts and Woods. Connected to the partnership and Prince Rupert, the bands chief business advisor for thirty years is a group of companies that include Musidor and Promotour which are dedicated to individual business aspects of the Rolling Stones organization. Paytress, (2008). The family of companies is based in Netherlands for the primary reason that foreign bands there enjoy certain tax advantages.
When the group is not touring the companies cut costs by maintaining skeleton staff. Prior to the 1969 Steelwheels tour the band would hire a tour director. Consequently Michael Cohl a Canadian tour promoter streamlined this operation to what it is today. In the latest Licks tour the band is using three different venues each with a unique combination of music. Though the venues have gotten smaller Jagger is now focusing on merchandising. It seems the Rolling Stones juggernaut will keep rolling for a few more years and several millions later with Mick Jagger at the helm.