Laissez-Faire Leadership refers to a style where the leaders assess the talents of a person and assign responsibilities accordingly Laissez-Faire Leadership does not believe in unnecessary interference with individual choice and action. It empowers individuals and groups to take viable decisions. Characteristics of Laissez-Faire Leadership 1. Employees get to decide 2. Can use numerous tools and resources 3. Guiding is minimum 4. Encourage employees to deal with issues 5. Leaders are responsible for overall actions 6. Constructive feedback 7. Leaders step in when necessary Examples of Laissez-Faire Leadership 1. Herbert Hoover 2. Queen Victoria 3. Warren Buffett 4. Sunder Pichai Advantages of Laissez-Faire Leadership - Encourages creativity and innovation - Relaxed workplace culture - Encourages personal growth - Motivates workers to become independent - Boost creativity - Greater accountability - High employee retention Disadvantages of Laissez-Faire Leadership - Decreases employee morale with distant behaviour - Lacks fixed plans, check-in-meetings and enough support structure - Is an individual-based leadership style and is not suitable for groups - No ownership of actions or accountability - People are unaware of who is actually in charge - This style proves tough for new employees Who works best under Laissez-Faire Leaders? 1. Creative people 2. People with organizational experience 3. Self-motivators What Types of Businesses Attract Laissez-Faire Leaders 1. Venture Capital investment firms 2. Engineering and high-end architectural firms 3. Advertising firms 4. Product design companies 5. Social media firms 6. R&D wings Laissez-Faire vs Autocratic Leadership Laissez-Faire Leadership is about doing things your way whereas Autocratic Leadership is about doing things in a specific way and adhering to all the rules In Laissez-Faire Leadership leaders do not interfere much whereas in Autocratic Leadership the leaders are in charge of every small aspect. This video is on Laissez-Faire Leadership and it has the following sub-topics. Time Stamps 0:00 Introduction 00:22 Definition of Laissez Faire Leadership 00:41 What is Laissez Faire Leadership? 01:32 Characteristics of Laissez Faire Leaders 01:52 Examples of Laissez Faire Leadership 02:55 Advantages of Laissez Faire Leadership 04:21 Disadvantages of Laissez Faire Leadership 05:40 Who works best under Laissez Faire Leaders? 06:10 What types of businesses attract Laissez Faire Leaders? 06:32 Laissez Faire vs. Autocratic leadership