The leadership style described in the paragraph is the Laissez-faire style of leadership. This type of leadership is characterized by the leader's minimal involvement in decision-making and the delegation of significant autonomy to the team members.
The key features include:
This leadership style fosters creativity, responsibility, and autonomy within the team, aligning with the details given about Mr. Ashish's managerial approach.
Laissez-faire leadership is characterized by providing followers with high independence to make their own decisions and carry out their tasks. In this case, Mr. Ashish gives his team the freedom to set their own objectives and resolve issues independently, only providing support when necessary. This leadership style promotes autonomy, allowing team members to take initiative and work without constant supervision.
A shopkeeper buys an item for Rs 2000 and marks it up by 50% to set the marked price. He then offers a 20% discount on the marked price. What is the profit earned by the shopkeeper?