1. To what extent has Julia chosen the right approach to leading the managers in her unit of the financial services firm?
2. What advice can you offer Julia to be a more effective leader?
3. What advice can you offer Laura to help Julia be a more effective leader?
4. Explain whether you think Laura was justified in asking Julia’s direct reports about Julia’s approach to leadership.

Julia is the director of the municipal bond group of a financial services firm. Julia has four managers reporting to her, each of whom supervises a unit of the group: retail sales, institutional sales, customer service, and internal administration.
Laura, the branch director and company vice president, heard rumblings that the group was not receiving enough supervision, so she decided to investigate. During a dinner meeting requested by Laura, she asked Julia about her approach to leading the group. Julia replied:
“I am leading my four managers as if they are all responsible professionals. I believe in management by exception. Unless I am aware of a problem, I am hesitant to get involved in how my managers conduct their work. Don’t forget that as the head of the municipal bond group, I have some responsibility for spending time with major customers as well as meeting with you and other senior executives. I do hold a weekly meeting, and conduct my annual performance reviews as required.”