Sunday, October 13, 2019
An Investigation of Wachovia :: essays research papers fc
An Investigation of Wachovia Table of Contents 1.     Background 1.1     Company History†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     1 1.2     Driving Force†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..........     1 1.3     Location†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..........     1 1.4     Quick Summary of: 1.4.1     Employees†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..     1 1.4.2     Revenues Growth†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     2 1.4.3     Income Growth†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     2 1.5     Website†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2 2.     Products/Services 2.1     Major Categories of Products/Services†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..     2 2.2     Target Marker†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.     3 2.3     Important Characteristics of Wachovia†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..     4 2.4 Differentiation from Competitors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     4 2.5 Market Share†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     5 2.6 New & Upcoming Features†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.     5 3.     Market Analysis 3.1     Industry Characteristics†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 3.2 Current State of Technology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     6 3.3 Competitive Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...     7     3.4 Social/Legal/Ethical Issues†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..     9 4.     Financial Information 4.1     Ownership Structure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     12 4.2     Income Statement & Balance Sheet Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.     12 4.3     Trend for: 4.3.1     Share Price†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 4.3.2     Investment Performance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..     14 5.     Recommendations 5.1     Current Technology & Improvements 5.1.1     Strategic Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.     14 5.1.2     Products & Service Offerings†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.     15 5.1.3     Customer Relations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.     16 5.1.4     Human Resources†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     17 5.1.5     Marketing & Sales†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..     18 5.1.6     Accounting and Finance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.     19 5.1.7     Distribution of Money†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     19 5.1.8     Alliances & Partnerships†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã‚     20 1.1     Company History Wachovia was formed in 2001 by the merger of Wachovia Corporation and First Union Corporation. Wachovia National Bank was formed in Winston, North Carolina in 1879. The name Wachovia came from the Latin name for the German word Wachau. In the mid eighteenth century Moravian settlers gave the name Wachau to a tract of land in North Carolina because it resembled a piece of land along the Danube River called Der Wachau. First Union Corporation was formed in the early Twentieth century funded by a $100,000 stock issue. The company’s first headquarters were in a hotel in Charlotte, North Carolina. The company later merged with First National Bank of Ashville to form First Union National Bank of North Carolina. 1.2     Driving Force The current Chief Executive Officer of Wachovia is Ken Thompson. Thompson has been with the company since 1976 and previously held the CEO position at First Union Corporation. Wachovia is the fourth largest holding company in the U.S. and is the third largest full-service brokerage based on assets. 1.3     Location Wachovia headquarters is located in Charlotte, North Carolina, but the company has operations internationally. The company operates 3,900 financial centers and retail brokerage offices in forty-nine states and around the globe. 1.4.1 Employees Wachovia has 95,000 employees world wide. Of those ninety-five thousand, there are ten thousand-five hundred registered financial service representatives. 1.4.2 Revenues Growth In 2003 Wachovia had revenues of 24.4 billion dollars compare to 23.51 billion dollars in 2002. The increase in 2003 was the third consecutive year that Wachovia has seen year-end revenue growth. Currently, Wachovia has experienced fifteen percent revenue growth in the first two quarters of 2004 and an eleven percent decrease in revenues in the third quarter.     1.4.3 Income Growth Wachovia has seen income growth for nine consecutive quarters dating back to the second quarter of 2002 when compared to prior year income. Net Income in 2003 was 4.2 billion dollars compared with 3.6 and 1.6 billion dollars in 2002 and 2001. 1.5 Website The Wachovia corporate website is www.wachovia.com 2.1 Major Categories of Products/Services Wachovia Corporation is one of the nation’s largest providers of financial services to retail, brokerage, and corporate customers.
Saturday, October 12, 2019
Botox Essay -- Fashion Health Appearance Botox Essays
Botox When people think of new fashion trends they normally think of clothes, but the newest beauty craze that has hit the middle age market is Botox. Botox injection therapy, although not completely new, has come out swinging since being approved for use in cosmetic improvements in 2002. Botox is used to eliminate the look of aging by reducing the appearance of wrinkles on the face, neck and hands. Most commonly, patients use Botox to eliminate crow’s feet around the eyes, wrinkles on the forehead, and frown or laugh lines. It has become such a popular and ‘user friendly’ alternative to traditional cosmetic surgery, many women and even celebrities host Botox parties to share the experience with their friends. Botox parties are held in private homes, in doctor's suites, at hotels and even spas. Celebrities such as Celine Dion, Cher, Madonna and even Sylvester Stallone are rumored to have gone under the Botox needle; but only a few such as Joan Rivers have credited Botox to helping their skin look younger. Although Botox has been promoted as the miracle cure for aging, for many people who suffer from debilitating disorders or chronic pain, it has proven to be a wonder drug. So, what is Botox? Botox is the market name for type A botulinum toxin which is a purified form of the toxin produced by the bacteria, clostridium botulinum. This bacteria is commonly associated with food poisoning and is lethal in large doses. The botulism toxin could paralyze vital muscles needed for breathing. Although related to botulism food poisoning, the amounts of Botox given are so minimal and localized, that the toxin will not spread to any other muscles in the body, thus making it a safe and harmless procedure. When used cosmetically, tiny amo... ...octor to go through voice therapy. The therapy was to help her extend the effects of injection as well as to give her control over her new voice. So although Botox may be the newest beauty craze sweeping Hollywood, it’s important not to overlook its importance as treatment for many illnesses and disorders. It not only has the ability to take years off someone’s face, but it can also save lives. Botox has provided relief for my mom from a disorder that was taking over her life and it has given her the opportunity to communicate again. The first time my mom was able to speak without any interruptions was a special moment; it brought tears to my eyes and it brought a brighter future for her. The ability to talk is something that most of us take for granted. Botox has allowed my mom to keep her job. Botox is a miracle drug and should be given the credit it deserves.
Friday, October 11, 2019
CanGo Essay
Issue 1: No clear strategy for expansion CanGo has had its success, and now they are looking into the future. Their question is, â€Å"What’s going to help them grow?†and as Liz said, â€Å"Turn them into a mighty oak.†CanGo recognizes that branching out and delving into new territory will be profitable and its popular with investors since they’re thinking of going for an IPO. The possibilities of adding e-books, streaming audio and video is hip but they also recognize that the online gaming industry is on the cutting edge for growth. With all of the brainstorming ideas CanGo has they do recognize there’s a scarcity of resources such as capital and people. Recommendation: The management team at CanGo is full of ideas related to expanding its product line. Liz has mentioned the possibility of E-books, music and video, and Andrew suggests online gaming. Expansion is just one topic, as the company is considering offering IPO (initial public offering). The brass is contemplating major decisions without professional guidance. The employees will soon be asked to juggle more responsibilities, without the appropriate resources. CanGo should seek additional consultation specific to the objectives it wants to achieve. In addition, the company must consider the risk and where to allocate resources to be maximize profit. Furthermore, there will have to be some degree of advertising and marketing to generate interests. CanGo feels that the best way to handle new ventures is to use in-house employees. Pulling employees from jobs they are already doing will no doubt take away from quality. We recommend that Warren and Liz take into consideration the opportunity cost of expanding at this time. Will the benefits outweigh the cost of expanding. Issue 2: No capital for expansion CanGo must consider how to combine its limited resources to produce the best mix of goods and services. A cost-benefit analysis will help them measure the cost and the benefits correctly. They will need to think about two types of analysis (1) Marginal Analysis and (2) Cost-Benefit Analysis. Recommendation: Performing a marginal analysis will examine how the costs and benefits change in response to their incremental changes in actions. Any additional action that CanGo does will bring about additional cost so, type of analysis will determine if the expected benefits of their actions exceed the added cost. It was mentioned casually that the only source of capital as an IPO. This point was expounded upon by the poor sandwiches being provided. I don’t think Warren made the comment to be rude, but to illustrate the point that financial capitol is limited – especially in terms of expansion. CanGo is generating interest in its industry and community. The time is ripe to offer an initial public offering. CanGo needs professional guidance in analyzing what is value and assess the possibilities of an IPO. It may consider taking advantage of its success in Japan. CanGo’s IPO does not have to be confined to its locality; it has to start thinking international in scope. Its popularity in Japan alone may generate the capitol necessary to expand in product, personnel, and infrastructure.
Thursday, October 10, 2019
Debate Winners Summary Essay
Over the past few weeks, my group and I have been in a constant debate about the pros and cons of legalizing guns in the United States. This has been a constant debate that has been going on for sometime now. My group and I had the opportunity to really explore both sides thoroughly. It was amazing to find out the citizens of America were truly divided on the decision for guns to be legalized. According to The Resnick articile (1999), In 2008, the United States Supreme Court in District of Columbia v. Heller, 554 U.S. 570 (2008), held that the Second Amendment to the United States Constitution protects an individual’s right to possess a firearm for private use within the home in federal enclaves. In 2010, in McDonald v. Chicago, 561 U.S. __ (2010), the Supreme Court held that the right of an individual to keep and bear arms protected by the Second Amendment is incorporated by the Due Process Clause of the Fourteenth Amendment and applies to the states. That American citizens have a right to own firearms is conclusive and irrefutable. Due to this argument, it’s only right for the people of America to embrace the right to protect your homes and family by having the right to purchase a weapon. People also value the right to have a gun for personal pleasure. There are men and women that enjoy the sport of hunting and those of us that love to go out to a range and shoot at target. According to The Pros & Cons (2014), if we opt not to legalize guns, we would potentially increase Black Market trade and ruin commercial trade, hinder evidence for prosecution, influence effects of socialism and totalitarianism to be seen upon a country’s social and government infrastructures. Some people view guns as not being safe at all. People feel there aren’t enough restrictions for guns. There are far too many people with criminal backgrounds that have direct access to guns. Guns have been viewed as being an addition to violence. Over the years, we’ve seen children shooting children with their parent’s gun. Guns are easily accessible on the Black Market. Terrorists are utilizing guns to bully our citizens. According to Messerli (2012), Suicides and crimes of passion are higher with gun availability, as it’s much easier to act immediately on your impulses when a gun is available. As we can see, one could argue that we should ensure that guns remain legal in the U.S. and one could argue that we shouldn’t. Based on the information read, my team and I have come to the conclusion that the pros to legalizing guns should definitely win this argument. No one wants to violate the rights of the men and women of America. Reference Resnick, R. (1999). The Second Amendment Is Not Negotiable. Retrieved from http://www.frontpagemag.com/2012/ron-resnick/the-second-amendment-is-not-negotiable/ The Pros & Cons (2014, January 29). Pros and Cons: Gun Control. Retrieved March 16, 2015, from http://theproscons.com/pros-cons-of-gun-control. Messerli, J. (2012). BalancedPolitics.org. Retrieved from http://www.balancedpolitics.org/gun_control.htm
Wednesday, October 9, 2019
A good manager and a good leader Essay
What is more important, a good manager or a good leader? Discuss There are a lot of issues that are linked with managing oneself when trying to build work based relationship and engage positively in the organizational decision making procedure. The business sector in today’s society is cumulatively rapid, and with this prompt increase comes the need for more people to manage and lead the growing establishments, but this growing need also raises some potential questions: Can anyone become a leader or a manager? Is there a difference between the two? Can people be trained to become leaders or a managers? Just like many other questions that might be asked in business; these questions have no one, definite answer. I will begin first by acknowledging the definitions of the two root words; the word manage according to the â€Å"oxford online dictionary†means â€Å"Be in charge of (business, organization or undertaking, and having the position of supervising staff at work. W hile the word lead simply means to go or guide. Similarly as the two words have different meanings or definitions, they also have different purposes. To help individuals increase their capabilities in business, an internationally recognized motivational speaker by the name of â€Å"Marc Sanborn†has developed certain theories that, â€Å"much like in science or art, prove some things to be more true than others by providing supporting facts to prove the legitimacy of certain ways of thinking†. Most of his theories authenticate the fact that in general, â€Å"good managers tend to be good leaders, but good leaders are not always good managers†. It is stated by (Rodenberg, 2007, p. 14), Any company that cannot imagine the future will not be around to enjoy it. Therefore, before any manager or leader can affect changes in their business they have to do what â€Å"Marc Sanborn†describes as visioning; they must mentally look into what they want to see as the potential outcome of any given situation. Managers are concerned with the problem at hand; they focus on what has to be done. Leaders on the other hand, notice what has to be done, but spend their time figuring out how to get it done. To be an effective leader it is important to focus on the determined details of a situation, look for opportunities and how to achieve them. Visioning cannot be taught but can be developed (Maser, 1998, p. 10). It is important for both manager and leader to start from the end an d works backwards, or thinks to themselves â€Å"what will this team accomplish because of me? â€Å"Leadership is all about taking an organization to a place it would not have otherwise gone without you, in a value-adding, quantifiable way. When you vision, you think your way into a situation and it is the approach in visioning that separates managers from leaders. Visioning however is not the only method that separates managers from leaders. (Buckingham, 2008, p. 3). The different strategies used by managers and leaders in terms of their use of human resources can also differentiate the major factors that influence each position. Managers are required to monitor, supervise, and get tasks done in a certain amount of time. Managers have to be efficient, and thus time is the most important human resource for them. By improving their efficiency, managers can improve their managerial success. Leaders, on the other hand, must strategically use not only their time, but energy as well. Therefore, leaders should use their energy efficiently because there is only a certain amount of tasks that can be done in one day. By using these resources strategically, leaders can also efficiently use the time and energy of others. According to (Stephen R. Covey, 1995, p. 27) â€Å"Managers try to put more time into life, while leaders try to put more life into their time†. Leaders must carefully plan out strategies they will use to accomplish given tasks because strategy is not the consequence of planning, but the opposite; it is the starting point. Understanding that managers and leaders have different strategic approaches in developing their human resources shows that it is the approach that separates one from the other. It is evident that by visioning the appropriate outcome and by using our human resources purposefully we can reach our goals efficiently. However, what good are the two if you are not focused on the right thing? The concept of focus is what â€Å"Stephen R. Covey†portrays as one of the most powerful factors in succeeding. To help us understand just how powerful the concept of focus can be, just like the â€Å"bird feeder story†, in which the squirrels were the victors in their attempt to eat from a feeder intended for the birds. The man that made the birdfeeder was unable to repel the squirrels from reaching the feeder simply because the squirrels were much more focused on achieving their goal than he was. (Perkins, 2012, p. 123) Similarly, if managers and leaders focus intentionally on any problem, their outcome will always abound over their competitors simply because more effort was put into the task at hand. As Marc Sanborn stated, â€Å"In the corporate world it is not intelligence which is the deciding factor in who succeeds, it is how focused one is that makes all the difference. As mentioned by (Perry MCINTOSH, 2010, p. 45), time is the most valuable resource for managers because they must be efficient and be able to make a wisely use of it. Therefore, it can be said that the managers are focused on time. The prime focus in a managerial position is the speed at which tasks are completed. Leaders conversely are and should be more focused on being effective, that is their intentions are on doing the right thing. Marc also stressed out an example of two people who were trying to reach a destination. They were going at great speed and making good time, but they were going the wrong way. It is evident by now that there is indeed a great difference between managers and leaders and it is ultimately the approach taken upon certain methods that is the determinant of your leadership role. (Schermerhorn, 2011, p. 259) Explains that managerial power is positional power being the manager, â€Å"This power includes remunerations, force, and acceptability†. It is power over people whereas leadership is supportive power, and it is power with people. Whether you vision the destination, or the transportation there, whether you try to be efficient or effective, and whether you focus on the speed or the path all come into play as your leadership quality level. These qualities can be improved and developed if they are all focused on the right things. That is why good managers tend to be good leaders, because they can focus on getting tasks done proficiently and also do it right at the same time. (Swansburg, 1996, p. 435) Managers are good disciplinarians; they are able to manage certain objectives while being efficient. Many people tend to think that management and leadership are related. Good managers are not always good leaders. Managers usually can implement their management responsibilities succe ssfully but not show that they are great leaders as well. According to (Sims, 2002, p. 390), â€Å"an organization’s obligations for management and leadership will change as the elements affecting the organization change. Because leaders are important change agents, they play important roles when the external environment is changing fast as is the case with the new economy; and an organization has diminutive need for a strong change agent if little is changing around it†. To be able to lead proficiently will allow a successful person or leader to stand out from the average ones. A manager transacts with the everyday errands of the organization such as planning, organizing, and controlling but when you are a great leader you are able to make effective changes inside the workplace. As stated by (Al Maktoum, 2006, p. 214), leading comprises of setting a pattern, direction and also generating a visual of the goals that must be met. Management involves establishing the structure of the company, hiring good people who are competent enough to complete the work at the right time, and also supervising events and activities. Leadership keeps employees inspired to overcome obstacles and focus on buildin g the organization towards its potential future. The typical manager tends to focus on the daily activities and short-term profits. They usually do things as they come along. This is fine if your goal is just to manage, but if you are looking advance and reach long-term goals then you must focus on being a leader to your assistants (Roger B. Winston, 2013, p. 45), to be a great leader and manager you cannot have one without the other. Managers must implement their tasks or else the organization can become ineffective and unorganized. Leadership on the other hand involves special processes that are distinguishable from basic management processes. Therefore, if one manager can master both roles effectively this can result in success. However good leaders are more supportive and creative and might sometimes lack the disciplinary quality of getting the right thing done as efficiently as possible. For the most part, there is a very fine line between good managers and good leaders, but good leaders just aren’t and do not want to be, managers. Bibliography Al Maktoum, H. S. (2006). My Vision: CHALLENGES IN THE RACE OF EXCELLENCE. Motivate Publishing, 2006. Buckingham, m. (2008). The one thing you need to know: About Great Managing,,,,, Great Leading and Sustained Individual Success. Maser, C. (1998). Vision and leadership in sustainable development: Volume 6 of sustainable community development . CRC PRESS, 1998. Perkins, D. (2012). Delightful stories from the heart of maine. WestBow Press. Perry MCINTOSH, a. R. (2010). Becoming a Manager. AMACOM Div American Mgnmt Assn, 2010. Rodenberg, J. H. (2007). Competitive Intelligence and senior Management: â€Å"The best solution to where to place the office of competitive intelligence is on a par with functions that report directlt to the board†. Roger B. Winston, D. G. (2013). The professional student Affairs administrator: Educator, Leader and manager. Routledge publisher, 2013. Schermerhorn, J. R. (2011). Exploring Management. John Wiley & Sons, 2011. Sims, R. R. (2002). Managing organizational behebior. Greenwood publishing Group. Stephen R. Covey, A. R. (1995). First Things First,,,, â€Å"Fireside Book†. Simon and Schuster, 1995. Swansburg, R. C. (1996). Management and Leadership for Nurse Managers. Jones & Bartlett Learning, 1996.
Tuesday, October 8, 2019
Postmodernism Cinema Essay Example | Topics and Well Written Essays - 1500 words
Postmodernism Cinema - Essay Example The essay "Postmodernism Cinema" states postmodernism and cinema. This paper also analyzes Andrew Tudor’s work â€Å"From Paranoia to Postmodernism: The Horror Movie in the Late Modern Society.†The term postmodernism has been widely applied in contemporary horror films. Various discussions regarding the applicability of the term started in the past century. In 1986, Tania Modleski managed to establish the relationship between the present developments in the horror film industry and postmodern theory. In 1989, the Tudors study about â€Å"Monsters and Mad Scientists†showed that particular aspects affiliated with modern horror is linked to at least some social changes, which can be considered as postmodern. In 1990, Noel Carroll made a similar point in a subtle manner. He stipulated that horror genre in the contemporary world serves as an exoteric expression portraying similar feelings that are evident in the case of intelligentsia based on the concept of postmod ernism. The arguments reveal that it is vital for humans to diagnose the current society with regard to postmodernism. As such, it is challenging to resist the cultural resonance, which reflects postmodern horror. In this case, the term can be regarded as descriptive in an unproblematic manner. It should not be aimed at making few attempts to evaluate the proposition that reveals there is something regarding modern horror movies which creates a need for illustration. It is possible to stipulate that they live in a period characterized by ‘postmodern’ horror.
Monday, October 7, 2019
Integration and Reflection Essay Example | Topics and Well Written Essays - 250 words - 2
Integration and Reflection - Essay Example I feel that couple of more complicated real life situations as usually encountered in the industries could help me sharpening my abilities. I am curious to know how increase and decrease in money supply dictates interest rates. For example, the US witnessed very high interest rates in 1980s due to low money supply but post 2008 financial crisis, the country experienced very low interest rates. The question important to me is that how far this is related to money supply? I know that it has more to do with economics rather than finances yet it appears to me that forecasting future interest rates is a way to settle discounting rates more appropriately as it largely dictates the present value of the future streams of revenue. It is absolutely clear to me that the learning in this course such as IRR, capital budgeting, importance and calculation of present value by considering most appropriate discounting rate, necessity of selecting appropriate capital structure for enhancing shareholders value and many other financial measures are critical for understanding and spearheading the growth of company under consideration. In short, the entire course has improved my worth a lot and I am pretty sure that the knowledge that I have gained in this course will help me in my professional and personal life, especially where finance-related decision making process is
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