R. Jeffrey Orr is the President and current CEO of Power Financial Corporation of Canada. He has occupied this position since February 2020 and is known for his innovative approach to business organization (Bloomberg, n.d.). Power Financial Corporation is an owned subsidiary of Power Corporation of Canada that manages and holds companies whose areas of financial interest are Canada, the US, and Europe (Power Financial Corporation, n.d.). Jeffrey Orr has worked in the company since 2005, and it became famous in Canada and worldwide during the years of his work performance.
Orr is the leader who manages the business relying on the principles of transformational leadership. The key strategy of decision-making he applies in his work is matching work-related values with personal values (Ivey Business School, 2017). In other words, Jeff Orr recommends that leaders root and ground decisions in values the leader observes in life in general. Such an approach will enable the leader to create a bond between him and the people he works with that will help the company meet tough times and challenges and make the right decisions. If the leader sticks to the principles of honesty and fairness in combination with his personal values in leading the business, it helps him gain credit and respect among the clients. A good and trustworthy reputation for the business may often help the company survive different collapses or even prevent them.
Apart from that, Jeffrey Orr pays attention to the appropriate education of young people who will become leaders in the future. He used to give speeches at Ivey Business School, where he spoke about the importance of personal values for the leader. He also said during the speech that character is extremely important for the leader because a person who is honest, fair, and hardworking in real life will implement these principles into work and business (Ivey, 2017). Moreover, Orr and Power Corporation, which he manages, was among the investors of the Institute for Leadership Development, the primary goal of which was to develop leaders in Manitoba (UM, 2017). This action demonstrates that Jeff Orr is a leader who thinks from a long-term perspective, not only for the company he works at but for the business field in general.
Jeffrey Orr not only sticks to the principles of transformational leadership but also encourages other businessmen to do that. He promotes the idea of innovations in business by launching a donation to M14 to support the leadership and mission of McGill University (Globe Newswire, 2021). This action of Jeffrey Orr guards the principle of motivation all transformational leaders observe. He motivates the M14 team to continue its mission and research and work productively and effectively. Orr’s actions and speeches prove that he observes this principle in managing the company because he prioritizes the harmonious atmosphere in the working team, which is the key goal of the implementation of transformational leadership principles (Ferguson, n.d.). He bases his leadership strategy on the importance of implementing personal values into the work process, and these values are often common and understandable for all people, so everybody shares them. This approach may contribute to the principle of simplification, which is among the principles transformational leaders should observe. Thus, a leading business paying attention to the values the CEOs and the workers share makes Jeffrey Orr a great leader who leads the business carefully and thoroughly.
References
Bloomberg (n.d.). R Jeffrey Orr. Web.
Ferguson, Gr. (n.d.). Seven Principles of transformational leadership. Chron. Web.
Globe Newswire (2021). Honoring leadership excellence in Montreal with a &1 million donation. Globe Newswire. Web.
Ivey (2017). Values matter, says honorary degree recipient Jeff Orr. Ivey News. Web.
Ivey Business School (2017). Jeff Orr presentation on leadership – October 2017. [Video]. YouTube. Web.
Power Financial Corporation (n.d.). Profile and history. Web.
University of Manitoba (2017). Great-West Life, Investors Group and Power Corporation invest to create a unique leadership institute at U of M. University of Manitoba. Web.