Step By Wicked Step by Anne Fine Essay Example for Free

Step By Wicked Step by Anne Fine Essay The setting for the story Step by Wicked Step is one dark stormy night when five schoolchildren on a school trip stayed in a towering mansion. They found secret tower room that was hidden behind a wall. The lights in the mansion were not working and they has to depend on the streaks of lightning and the moonlight for light. The tower room, covered in a coat of dust, had not been used for a long time. There were heavy drapes, plain dark coverlet and frame old maps. A dusty green album revealed the story of Richard Clayton Harwick’s journal entitiled† My story, Read and Weep. Following this each one of them related their own sad story of their broken homes and relationship with their family members. Time : 1)Evening- party meals organized by Stella for Claudia father thirty- seventh birthday. 2) Night- Claudia decides to make something for her stepmother when she fells sorry for her. Location 1) Her granny’s house- her father stays in her granny’s after argue with her mother 2) Stella’s house – the party meal for her fathers’ birthday and the things she does for Stella. Richard related the story of his life with his stepfather and he ran away to escape his problems. All the five children symphatised with Richard’s situation and they each has their own sad tale to tell. The setting enhances the plot of the story by providing the atmosphere for the story. The tower was dark except for flashes of lightning and later the moonlight. It gave the children the mood and courage to tell their story. The dust in the room symbolized their past which should be wiped away so they could look forward to a brighter future. Write about difficult decision made by one of the characters The novel Step by Wicked Step is about five schoolchildren who found and read Richard Clayton Harwick’s journal of his life with his stepfather and his running away from home. The five children were inspired to tell their own sad family stories of broken homes. In the story, Richard Clayton Harwick made the difficult decision of running away. Richard Clayton Harwick felt sidetracked by his father who made him promise to look after his mother and sister after his death. His father made no reference to him. He was disappointed and to make matters worse, his mother remarried. His stepfather Mr. Coldstone or the ‘black, black bat’ as Richard referred to him imposed very strict rules on Richard, to the extend that he felt his home was more of a prison. He was sent to Mordanger School where he spent ‘four long years’ and it was a place of bad memories. He was extremely unhappy in his own home, a place where he had such a good memories of his father. He was disappointed that his mother did not seem to want to make any effort to protect him from his stepfather. Richard decided to run away from home. He felt that the three of them, his stepfather, mother and Charlotte would be happier without him around. His mother would find life more pleasant, Mr Coldstone would be pleased and Charlotte would not miss him. I think this was wrong decision as his decision changed three lives for the worst. His mother died of heartbreak, his stepfather of fury while Charlotte probably of childbirth. I feel he should have stayed on and tried to get along with his stepfather for his mothers’ sake. He should have let the past go and kept the happy memories of his father instead of feeling and showing unhappiness all the time. As Charlotte told him just because life had dealt them one hard blow, there was no reason fro them to be unhappy forever. His decision to run away was not right decision as it caused too much sorrow. Write about the social issue in the story In the novel step by wicked steps, five schoolchildren read the journal of Richard Clayton Harwick which detailed his sad story of family life with a stepfather. The five schoolchildren who come from broken homes were prompted to relate their own family life story. The reader is reminded of the issue of family relationships. Richard came from a happy family unit until his father passed away and his mother married to Mr. Coldstone, somebody Richard could not get along well with. He felt that he did not belong to his family, his mother and his sister anymore. While Cahrlotte got along well with their stepfather, Richard could not and did not want to. So, he decided to run away, thus breaking off family relationship with them rather than bear the unhappiness of bad family relationship. The five schoolchildren coming from broken homes had to deal with stepparents, stepsiblings, and half siblings. Some accepted these relationships well other could not. Most of the time they pretended to be amiable for their parents’ sake. When matter came to head, some like Claudia and Pixie sorted to out their feeling with their stepmothers. They were thus able to rebuild their family relationships. Others like Callie, Robbo’s sister, preferred to run away from their problems. The common thing about them was they felt their opinions and feelings did not count with their parents. Family relationships should be built on understanding and parents should take into account children’s opinion, especially on the issue of family relationship.

Assignment on Training and Development within Vodafone

Assignment on Training and Development within Vodafone Human Resource Management (HRM), a relatively new term, that emerged during the 1930s. Many people used to refer it before by its traditional titles, such as Personnel Administration or Personnel Management. But now, the trend is changing. It is now termed as Human Resource Management (HRM). Human Resource Management is a management function that helps an organization select, recruit, train and develops. Human Resource Management is defined as the people who staff and manage organization. It comprises of the functions and principles that are applied to retaining, training, developing, and compensating the employees in organization. It is also applicable to non-business organizations, such as education, healthcare etc. Human Resource Management is defined as the set of activities, programs, and functions that are designed to maximize both organizational as well as employee effectiveness Scope of HRM without a doubt is vast. All the activities of employee, from the time of his entry into an organization until he leaves, come under the horizon of HRM. The divisions included in HRM are Recruitment, Payroll, Performance Management, Training and Development, Retention, Industrial Relation, etc. Out of all these divisions, one such important division is training and development. TRAINING AND DEVELOPMENT is a subsystem of an organization. It ensures that randomness is reduced and learning or behavioral change takes place in structured format. TRADITIONAL AND MODERN APPROACH OF TRAINING AND DEVLOPMENT Traditional Approach Most of the organizations before never used to believe in training. They were holding the traditional view that managers are born and not made. There were also some views that training is a very costly affair and not worth. Organizations used to believe more in executive pinching. But now the scenario seems to be changing. The modern approach of training and development is that Indian Organizations have realized the importance of corporate training. Training is now considered as more of retention tool than a cost. The training system in Indian Industry has been changed to create a smarter workforce and yield the best results TRAINING AND DEVELOPMENT OBJECTIVES The principal objective of training and development division is to make sure the availability of a skilled and willing workforce to an organization. In addition to that, there are four other objectives: Individual, Organizational, Functional, and Societal. Individual Objectives help employees in achieving their personal goals, which in turn, enhances the individual contribution to an organization. Organizational Objectives assist the organization with its primary objective by bringing individual effectiveness. Functional Objectives maintain the departments contribution at a level suitable to the organizations needs. Societal Objectives ensure that an organization is ethically and socially responsible to the needs and challenges of the society. Role of HRD Professionals in Training This is the era of cut-throat competition and with this changing scenario of business; the role of HR professionals in training has been widened. HR role now is: 1. Active involvement in employee education 2. Rewards for improvement in performance 3. Rewards to be associated with self esteem and self worth 4. Providing pre-employment market oriented skill development education and post employment support for advanced education and training 5. Flexible access i.e. anytime, anywhere training The HR functioning is changing with time and with this change, the relationship between the training function and other management activity is also changing. About Vodafone Vodafone Group Plc is the worlds leading mobile telecommunications company, with a significant presence in Europe, the Middle East, Africa, Asia Pacific and the United States through the Companys subsidiary undertakings, joint ventures, associated undertakings and investments. The Groups mobile subsidiaries operate under the brand name Vodafone. In the United States the Groups associated undertaking operates as Verizon Wireless. During the last few years, Vodafone Group has entered into arrangements with network operators in countries where the Group does not hold an equity stake. Under the terms of these Partner Market Agreements, the Group and its partner operators co-operate in the development and marketing of global products and services, with varying levels of brand association. At 30 September 2009, based on the registered customers of mobile telecommunications ventures in which it had ownership interests at that date, the Group had 323 million customers, excluding paging customers, calculated on a proportionate basis in accordance with the Companys percentage interest in these ventures. The Companys ordinary shares are listed on the London Stock Exchange and the Companys American Depositary Shares (ADSs) are listed on the NASDAQ Stock Market. The Company had a total market capitalisation of approximately  £71.2 billion at 12 November 2009. Vodafone Group Plc is a public limited company incorporated in England under registered number 1833679. Its registered office is Vodafone House, The Connection, Newbury, Berkshire, RG14 2FN, England. Vodafone Training and development We provide training and development opportunities to help our employees gain new skills and experiences, and encourage them to reach their full potential. Vodafone offers a wide range of online courses related to specific aspects of the business or key skill sets. Performance Dialogues All employees complete an annual Performance Dialogue with their line manager, enabling them to review their performance annually and set clear goals and development plans for the year ahead. The process ensures our people can make a clear connection between their goals and Vodafones business objectives. Development Boards Vodafone employees with key skills are discussed at an annual Development Board, where their line managers rate their performance and potential. We use this information to identify employees with leadership potential in each local operating company. These employees are encouraged to complete leadership development training, such as Inspire. Inspire leadership development Inspire is a global programme designed to identify and develop high potential employees and accelerate their progression into leadership roles. Participants take part in a three-month international rotation and receive commercial training and personalised leadership development through Imperial College, Oxford Said Business School and the Hay Group. They also gain from exposure to and learning from members of our Executive Committee. The programme promotes cross-cultural understanding within Vodafone and encourages employees to take advantage of the breadth of experience across the Group. Promoting career opportunities within Vodafone We want people to develop at Vodafone and promote recruitment from within. This encourages people to progress their careers within the company, either through promotion or a change of role to broaden their experience. All vacancies across Vodafone are advertised on the job-posting page of our global intranet, which encourages the transfer of talent across the Group. Equal opportunities and diversity We believe employee diversity is an asset to our business. Men and women of various ages from different backgrounds and cultures, with a range of different experiences, help us understand and serve our customers around the world. We have a strategy to improve diversity and inclusion across the Group. It aims to ensure Vodafones workforce reflects its diverse customer base, and that the company has an inclusive working environment that embraces the benefits diversity brings. Vodafone aims to create a working culture that respects the value of differences among colleagues and encourages individuals to contribute their best within an environment that is inclusive, open, flexible and fair. We will not tolerate discrimination or unfair treatment on any grounds. Employees must act with integrity and respect for their colleagues and customers. We are committed to helping talented people from diverse backgrounds meet their potential at all levels of the company. Gender diversity We are working to improve gender diversity at Vodafone, as part of our diversity and inclusion strategy. This includes carrying out senior leadership training on inclusion and diversity. At Group level, we instruct our recruitment consultants to recommend a minimum of one credible female candidate for interview for every vacancy we advertise at management level. We recognise that women can often be more affected by family commitments than men and encourage flexible working to help employees balance their work with their family commitments. Cultural diversity With operations worldwide, Vodafone is not only multinational but multicultural. We encourage our managers to gain experience working in different countries and almost half our senior managers have international experience. International rotation is a key part of our Inspire programme for employees with high potential. See Training and development. Employees with disabilities We are conscious of the difficulties experienced by people with disabilities, and make every effort to ensure access to the Groups facilities and services. Disabled people are assured of full and fair consideration for all vacancies for which they offer themselves as suitable candidates. We do our best to meet their needs, particularly in relation to access and mobility. Where possible, modifications to workplaces are made to provide access for the disabled. Every effort is made to continue the employment of people who become disabled during their employment, through the provision of additional facilities, job design and appropriate training. Reward and recognition We aim to provide competitive and fair rates of pay and benefits in each market where we operate. This helps us attract and retain the best employees. Pay and benefits vary in each local operating company. Vodafone rewards employees based on their performance, potential and contribution to the success of the business. We want to ensure that our people feel their efforts are recognised. Our global short and long-term incentive plans reward performance. Health, safety and wellbeing The health, safety and wellbeing of our employees is a priority for Vodafone. We believe all incidents and injuries are preventable and we are committed to ensuring that our people can do their work safely. And we understand that employee wellbeing is vital for a healthy and effective workforce. Our wellbeing framework tackles significant issues such as attendance and stress management, as well as helping our people understand the importance of work-life balance and the benefits of healthy lifestyles. Many of our operating companies run programmes which aim to keep their employees healthy and free from stress, including flexible working initiatives. Flexible working enables employees to balance work and family commitments better and helps us to attract and retain the best people, as well as use space more efficiently. Our health, safety and wellbeing principles apply equally to Vodafone employees, our service providers, contractors and suppliers. We set consistently high health and safety standards across the Group, and have robust management systems to ensure these are implemented. Our Group Health and Safety Policy covers health and safety management, radio frequency fields and health, and driving safety. Each local operating company must comply with this policy and implement a health and safety management system that is consistent with local operating conditions and legislation. We also provide health and security advice for employees travelling abroad on business. Our Group Health, Safety and Wellbeing Board oversees implementation of health, safety and wellbeing management by local operating companies. Operating companies share information and advice through our Health, Safety and Wellbeing Network and at annual conferences. Employee volunteering Many of our employees give their time as volunteers to support good causes. This benefits charities and communities but also allows our employees to learn new skills. We encourage employee volunteering and help to raise additional funds from third parties. Most of our local operating companies have programmes to encourage employees to volunteer in working hours. Examples of employee volunteering programmes include: Refurbishing a residential care home for young children, by Vodafone Malta to mark its seventh annual Corporate Responsibility Day. Distributing blankets, clothes and food supplies to 10,000 needy families. Over 160 Vodafone Egypt employees volunteered three hours each on average to the cause. Giving blood at Vodafone Albanias Blood Donation Day, in co-operation with The Red Cross. Donors are urgently needed in Albania because 8% of the population carries Thalassemia, a blood condition that can be treated with blood transfusions. Vodafone Australias Beyondyou programme, to help employees make a personal difference to their community and the environment. Beyondyou offers individual and team volunteering, as well as career development opportunities with community partners. Employees can take one additional day of paid leave each year to volunteer.

Impact Of Leadership Styles

Impact Of Leadership Styles Leadership styles Transactional leadership and transformational leadership have gained attention over a period of last few decades (Bass, 1988; 1990; Bass and Avolio, 1993; Hartog, et al., 1997). According to Kirkpatrick Locke (1996), Transformational Leadership and Transactional Leadership both are directly related with numerous workplace outcomes such as job satisfaction, group performance, employees performance, and organizational commitment. These results have also been tested in different research settings (Al-Dmour Awamleh, 2002).In spite of this, the effects of managerial leadership styles from transformational and transactional perspectives have not been validated in IT firms. A key objective of this study is to fill this knowledge gap. This study will assess the effects of transformational and transactional leadership styles on employees performance in IT firms in India. According to Lewis et al (1998), In the 21st century, managers and leaders are expected to cope with a rapidly changing world of work. Hooper Potter (2000) suggests that managers will have to be competent leaders in order to transform their people to achieve the required company outcomes. Ryback (1998) describes a 21st century leader as having the ability to demonstrate a greater empathy and concern for people issues than his/her earlier counterparts. Managing projects in the information technology domain remains challenging, since various global trends contribute to rising complexities. Software development projects account for a very large portion of the overall IT outsourcing market. According to Dibbern et al. (2008), prior information technology research has provided a list of possible reasons why IT offshore outsourcing projects fail to meet the initial goals and expectations of both client and vendor. However, research is still limited dealing with leadership and management of Information technology projects (Lee 2008; Mao et al. 2008). Carson et al. (2007) states that one of the most important issues within project management is leadership. However, research about the crucial leadership styles focusing on IT projects is still limited. IT projects experience high failure rates since many years. The Standish Group reported significant time and cost overruns, add to by not fully meeting quality expectations of the project sponsors (Xia and Lee 2004). The primary reason, however, are not technological, but rather managerial issues (Scott and Vessey, 2002). Sumner et al. (2005) states that to successfully implement technical projects, strong project leaders with superior leadership skills are essential which will offers the potential to contribute to IT project success. Durham et al. (1997) states that research has proved the importance of leadership behaviour for team effectiveness, and for employees performance. According to Sumner (2000), lack of leadership or ineffective leadership is among the top hindering factors for IT project success. IT leaders of ten lack interpersonal leadership skills, because technical employees get promoted to become project leaders due to their technical knowledge, not for their people management capabilities (Rosenbaum 1991). The effect of transactional and transformational leadership style on employees performance have been validated on Health, Retail, Education and manufacturing sectors. There is a limited knowledge or research conducted on the leadership style of the project leader/team leader in the IT sector and how it affects the employees performance. This research aims to investigate the relationship between the effective team leader/Project manager leadership style and subordinates performance. The literature review discusses the link between Transformational leadership and employee performance and also the link between transactional leadership styles and employees performance. Objective of the Research This study investigates the impact of transformational leadership and transactional leadership style on employees performance. The objectives of this research are: Evaluation of the employees performance in relation to the transformational and transactional leadership styles. Assessing the employees preference over transformational and transactional leadership style. Finding the recommendations to improve employees performance with the help of transformational and transactional leadership style. Literature review Leadership and performance Yukl (1994) defined leadership as a social influence process whereby intentional influence is exerted by one person over other people to structure the activities and relationships in a group or organization. Max Weber is one of the major contributor of leadership and theorists to observe the parallel between the industry mechanization and bureaucratic forms of organization (Morgan, 1998).According to (Bass, 1990 Morgan, 1998) , the classical theorists such as Henri Fayol and F. W. Mooney, loyal advocates of bureaucratization in contrast to Weber, identified methods through which this kind of organizational structure could be achieved. These classical theorists set the basis for many modern management techniques. Webers concern about bureaucracy, however, did not affect theorists who set the stage for what is now known as classical management theory and scientific management (Stone et al., 2005).Scientific managers focused on the systematic management of individual jobs while the Classical theorists focused on the design of the total organization (Stone et al., 2005).Scientific management, an approach introduced by Frederick Taylor, was technological in nature (Hersey, Blanchard, Johnso n, 1996). Taylor initiated time-and-motion studies to analyse work tasks to improve worker productivity in an attempt to achieve the highest level of efficiency possible. He has also been accused of viewing people as instruments or machines to be manipulated by their leaders. Under scientific management theory the function of a leader was to establish and enforce performance criteria to meet organizational goals; therefore, the focus of a leader was not on the individual worker but was on the needs of the organization. Emerging theorists encouraged leaders to recognize that humans were not machines and could not be treated as such. During mid-1940s, a post bureaucratic shift moved everyone taking responsibility for the organizations success or failure (HeckscherDonnellon, 1994). Researchers started to examine the relationship between the leader behaviour and the other outcomes such as follower satisfaction level, organizational productivity and profitability. According to Griffin and Moorhead (2011),two of the first behavioural approaches to leadership were the Michigan and Ohio state studies which were conducted during 1940s and 1950s.The results of the Michigan studies suggested that there are two fundamental types of leader behaviour, job -centered and employee-centered which were presumed to be at opposite ends of a single continuum. The Ohio State studies also found two similar kinds of leadership behaviour consideration and initiating structure but this research suggested that these two types of behaviour were actually independent dimensions. These characteristics could be either high or low and were independent of one another. A new theory of organizations and leadership began to emerge based on the idea that individuals operate most effectively when their needs are satisfied (Stone et al. 2005). Maslows (1959) Hierarchy of Needs says that once a workers physiological, security, and social (intrinsic) needs were met, productivity would only be possible if the employees ego and self-actualizing (extrinsic) needs were also met. During 1950s and 1960s, the behavioural theories came into existence. According to Bass (1990), Theorists began to consider behavioural concepts in their analysis of organizational leadership and focused to understand the relationship between a leaders actions and the followers satisfaction and productivity. Barnard was involved in including behavioural components and his work focused on the behavioural components analysis of organizational leadership.Barnard claimed that leadership involves accomplishing goals with and through people (Bass, 1990). Subsequently, the goal of effective leadership was evolving and was moving away from classical and scientific management theories that treated workers as machines. According to (Johnson et al, 1996, p. 100), the real power centers within an organization were the interpersonal relationships that developed among working groups. Based on the idea that individuals operate most effectively when their needs are satisfied, a new theory of leadership began to emerge. McGregor (1960) work was closely linked to behavioural theorists, providing a foundation for the future emergence of transformational leadership. McGregor Theory Y says that individuals do not essentially dislike work and, under certain conditions, work could actually be a source of great satisfaction (Pugh Hickson, 1993). Theory Y assumed that individuals would employ self-direction and self-control, accepting and seeking responsibility (Pugh Hickson, 1993).During 1960s, researchers acknowledged that leaders did more than simply act they often had to react to specific situations, and thus, the situational/contingency theory of leadership evolved (Stone et al., 2005). However, in an appa rent return to the one best way of leadership, recent studies on leadership have contrasted transactional leadership with transformational leadership. According to Cummings and Schwab (1973), Leadership is perhaps the most investigated organisational variable that has a potential impact on employee performance. For the strength of an organization job satisfaction plays a vital role which has significant effect on employee performance.Walumba Hartnell (2011) suggests that the word performance is used to pass on the individual aptitude to be inspired, stirring, pioneering and to determinant to achieving the goals on an organization. Bass (1990) and Burns (1978) suggest that strong leaders outperform weak leaders, and that transformational leadership generates higher performance than transactional leadership. The researcher aim is to discuss whether the transformational leadership does really stimulate the employees for higher performance. From this we can conclude that transformational leadership stimulate higher performance. Cummings and Schwab (1973) suggest that in order for an organisation to perform an individual must set aside his personal goals, at least in part, to strive for the collective goals of the organisation. Employees are of paramount importance to the achievement of any organisation and hence effective leadership enables greater participation of the entire workforce, and can also influence both individual and organisational performance (Bass, 1997; Mullins, 1999). For an effective organisation, there must be effective and stimulating relations between the people involved in the organisation (Paulus et al. 1996). It is generally accepted that the effectiveness of people is largely dependent on the quality of its leadership and hence effective leader behaviour facilitates the attainment of the followers desires, which results in effective performance (Fiedler and House, 1988).Previous study results shows that there is a positive relation between satisfied employees and organization, as the performance of the satisfied employees are more productive for the organization then less satisfied employees (Ostroff,1992).Leadership is connected with employee performance (Ogbonna Harris 2000). The main idea of every organization is to enhance employee performance. Howell, Merenda (1999) Goodwin (2001) suggested that transformational leadership plays an imperative role in increasing job satisfaction as well as role play to achieve organizations goal and employees acts. Transformational leadership correlated with subordinate skills with work worth to assess employees performance as stated by Walumbwa, Avolio Zhu (2008). According to Ozaralli (2002), Organisations increase employees performance by giving empowerment to their team members. Researchers have studied that the employee performance is increased under the extraverted leadership when employees are passive and the result will be opposite if employees are proactive (Grant, Gino Hofmann, 2011). Researchers have also studied the employees performance with variety of variables. Opren (1986) observed that, satisfied employees not only be the cause of increasing employee performance but also they dont think to leave organization. Su, Baird and Blair (2009) feels, the level of productivity will be high when the employees are satisfied. According to Biswas (2009), the supporting style of manager also plays incredible role for increasing employees performance. Transformational leadership originated from charismatic leadership. House (1977) suggests that the personal characteristics of the charismatic leader include a high degree of self-confidence, strong moral convictions, and a tendency to influence others as well as engaging in impression management behaviours to boost trust and confidence in the leader. Furthermore, the articulation of a mission, setting challenging goals, and arousing motives are also important. Burns (1978) was the first person who identified the concept of transformational leadership. He suggested that transformational leadership is observed when leaders encourage followers to boost up the level of their motivation, morals, beliefs, perceptions, and coalition with the objectives of the organization. Bass (1985) proposed a new theory of transformational leadership and outlined its components. Transformational leadership engages followers by appealing to their upper level needs and ideas that yield higher levels of fo llower satisfaction and performance (Bass, 1985; Bryman, 1992).According to Schepers et al. (2005), transformational leaders allow employees to think creatively and analyse the problem from numerous angles and explore new and better solutions of the problem. Gill et al. (2006) suggested that organizations can reduce job stress and burn out by applying transformational leadership. Transformational leadership focuses on more sensitive side of organizational interactions like vision, culture, values, development, teamwork, and service (Fairholm, 2001).Bass (1998) claims that by emphasizing the symbolic and expressive aspects of task goal efforts and the important values involved, the transformational leader makes the difference. There are three mechanisms in Transformational Leadership: Leaders give values to their subordinates, motivate their subordinates and persuade in mounting or varying followers needs (William, Richards, Steers James, 1995).Transformational leadership is comprised of four central components. Bass (1985) suggests that Charisma is the key component of transformational leadership and it generates profound emotional connection between the leader and follower. According to Bass Avolio (1990) Charisma is operational through vision where the charismatic leader earns the respect and trust of followers, which leads to the acceptance of challengin g goals. The second transformational component is inspiration where leaders provides followers with challenges and meaning for engaging in shared goals and undertakings (Bass Avolio, 1990).Another major component of transformational leadership is individualized consideration, the leader first identifies the individual needs and abilities of followers and then mentors and coaches them, and also uses delegation (Bass Avolio, 1990). The final transformational component is intellectual stimulation, the leader helps followers to think on their own and analyse problems from their personal perspectives, encourages creativity, innovation, and challenge conventional wisdom (Bass Avolio, 1990). Most of the researchers had associated transformational leadership with employees performance and job satisfaction and argued that transformational leadership can be the best predictor of employee performance (Raja Palanichamy,2011).Transformational culture boosts both the organization and the employees performance without enforcing extra burden (Schlotz, 2009). Prior researcher has demonstrated that followers who work under transformational leaders are motivated and committed which facilitates their satisfaction with jobs (Givens, 2008). Masi cook (2000) believed that transformational leadership style is only the factor of increasing employee productivity.However,Parry Thomson ( 2002) claimed that it is important to adopt the appropriate leadership style for the success of an organization and examining, praising and assessing a leader do not truly assures the followers honesty in this case transformational leadership becomes inapplicable. According to Kuhnert Lewis (1987), transactional leadership is an exchange between followers and leaders desired outcomes by fulfilling the leaders interest and followers expectations, which involves promises or commitments embedded by respect and trust. Bass (2000) suggested that effective leaders accommodate the interests of their subordinates by giving contingent incentives, honour and promises for those who auspiciously succeeded in fulfilling the commitments of the leaders or the organization. On the other hand, Bryman (1992) argues that transactional leadership behaviours do not even qualify for a true leadership label because of the fact that the leader and follower agree, explicitly or implicitly, that desired follower behaviours will be rewarded, while undesirable behaviours will draw out punishment. He states that since it is based on exchange, transactional leadership does not seek to motivate followers. Bass (1985) and Burns (1978) suggest that total reliance on this lea dership style may cause performance and satisfaction to suffer. As modelled by Bass, transactional leadership is comprised of two fundamental dimensions: contingent reward and management-by-exception. Contingent reward takes place when the leader provides rewards if followers perform in accordance with the contractor expend the necessary effort. In Management-by-Exception, the leader takes action only when major deviations from plans are evident. Unlike Burns (1978), Bass (1985) insists that, to be effective, leaders need to demonstrate features of both transactional and transformational leadership. HowellMerenda (1999) conducted their research on transactional and leadership in forecasting employees performance and concluded that transactional leadership style is a positive predictor of followers performance. Gadot (2007) claimed that the transactional leadership style is weakly associated with performance. Ponce et al. (2006) Indicated that there is a dominance of the transactional leadership style over transformational style. Halpin et al (2006) suggested that leadership behaviours and team performance outcomes revealed that transactional leadership behaviour is significantly related to team performance. According to Jung et al. (1999), to make transactional leadership more effective, appropriate usage of contingent reward is an important feedback to assemble expectations with followers in term of their performance. Janssen Yperen (2004) acknowledged that transactional leadership assists the efficiency by enhancing innovative job performance and job satisfaction. From this we can conclude that some authors believe that transactional leadership stimulates higher performance and some believe that it is weakly associated with performance. Empirical evidence tends to support the view that leaders will maximize their effectiveness when they exhibit both transformational and transactional behaviours (Avolio et al, 1988; Bass Yammarino, 1989).Bass and Avolio (1994) and Ristow (1998) conducted research in different environments and found that transformational leadership has a positive influence on employee performance, and therefore organisational performance. Research conducted by Pruijn and Boucher (1994) showed that transformational leadership is an extension of transactional leadership (Bass, 1997).Bass and Avolio (1994) stated that the difference between these two models is that followers of transformational leadership exhibit performance which is beyond expectations, while transactional leadership, at best, leads to expected performance .Ristow (1998) suggested that transactional leaders were effective in markets which were continually growing and where there was little or no competition, but this is not the case in the markets of today, where competition is fierce and resources are scarce. Brand et al. (2000) has clearly shown that transformational leaders are more effective than transactional leaders. Brand et al. (2000) showed the evidence gathered in South African retail and manufacturing sectors, and also in the armed forces of the United States, Canada and Germany, points towards the marginal impact transactional leaders have on the performance of their followers in contrast to the strong, positive effects of transformational leaders .This research has been further supported by research conducted by Ristow, et al. (1999), according to which there was a positive relationship between certain styles of leadership and organisational effectiveness within the administration of South Africa cricket. Bass and Avolio (1997) conducted research on the topic of transformational and transactional leadership, an appropriate instrument was identified, called the MLQ(Multi factor leadership questionnaire ).The questionnaire contains statements that identify and measure the key aspects of leadership behaviour, and each statement in the questionnaire relates to either transactional, transformational or non-transactional leadership factors. RESEARCH METHODOLOGY Type of Research Design The type of research design that will be used in this study is quantitative research design, survey method. The present study is quantitative in nature because I will use quantitative data which is collected through questionnaire. Then the first step of my study will be to make worth by the validity by as its focus using positivism approach. Positivism paradigm will be used in this study is on understanding the ideology of multiple participants in their locations and work place. The survey design is chosen because it provides a quantitative description of trends, attitudes, or opinions of a population by studying a sample of that population. So that, it can best show the level of relation between leadership styles and employees performance. Sampling technique and measures The level of leadership qualities possessed by project managers/team leaders and the subordinates in XXXXX Company will be determined by the questionnaires distributed to a random sample of employees. Hence project managers/team leaders as well as their subordinates will be the participants of the study. Questionnaires will be distributed to a sample population of 50.All the questions are close-ended and are measured using Likerts Five Point scaling ranging from 1 (Never) to 5 (Always). The advantage of using close ended questions is that the results can be presented in the form of statistics and answers can be pre-coded so that the responses can be fed into a computer. Pilot survey has been conducted to check if there any problem in the questionnaire before the real investigation and the final version of the questionnaire has been set up. The transformational leadership is measured by the following components Idealized attributes, idealized behaviour, intellectual simulation, confi dence, individual consideration and inspirational motivation. The transactional leadership is measured by the following components contingent reward and management by exception (active). The performances measured that are included in this study are extra effort, effectiveness and satisfaction. Data Collection Instruments, Variables and Materials As a primary data collection instrument questionnaires will be distributed to a random sample of employees. The questionnaire is adapted from Multi factor Leadership Questionnaire; commonly called MLQ, developed by Bass Avolio (1990). The study will also make use of secondary sources of data such as relevant books in leadership and related areas. The data will be analysed with the help of descriptive statistics and multiple regression analysis to find out the most relevant leadership styles and relationship of these leadership styles with the selected outcomes such as extra effort, effectiveness and satisfaction. According to my opinion, the MLQ holds well in studying leadership behaviour. Previous research shows that to study the leadership behaviours most of the researchers have adopted MLQ.The MLQ is valid and reliable and has been used extensively worldwide (Bass and Avolio, 1997; Whitelaw, 2001). It has proven to be a strong predictor of leader performance across a broad range of organisations (Bass and Avolio, 1997).The Multifactor Leadership Questionnaire (self-rated) is used to get evaluation of leadership behaviour and organizational effectiveness (Bass and Avolio, 2000). The MLQ is a questionnaire describing behaviour and employees performance outcomes, each rated on 5 point scale. It measure transformational, transactional leadership and employees performance outcomes like satisfaction, effectiveness and extra effort. The previous researchers have used MLQ which consists of two versions, one for the leader to complete, and one for the raters of the leaders to complete. The leaders complete a questionnaire describing their own leadership style, whilst the raters complete a questionnaire regarding the leadership style of their specific leader. These two versions consist of exactly the same statements, except that they are written from different perspectives. These two versions are known as the leader version and rater version respectively. I would be following the same approach. Reliability and validity are the statistical criteria used to assess whether the research provides a good measure (Whitelaw, 2001).The MLQ has been tested for reliability and validity in a number of settings (Pruijnand Boucher, 1994). The MLQ (Bass Avolio 2000) is one of the widely primary instruments used and accepted to measure transformational and transactional leadership styles.MLQ has gone through many revisions to strengthen its reliability and validity. Also more than 200 doctoral dissertations and master thesis have used the MLQ (Bass Avolio 2000). After collecting the data from the participants then SPSS software will be used for the data analysis. After recording the data into SPSS software, Descriptive statistic will be used to get the overall summary of the variables. In the table of descriptive statistic, the values of mean, Standard deviation and also the maximum and minimum values are obtained for leadership and performance variables which would define the response rate of the respondent. Descriptive statistical analyses will be performed to measure general demographic characteristics of the sample including age, gender, and years of tenure with the company. These analyses are unrelated to research questions or hypotheses but they are discretionary and exploratory in nature. The researcher believes that some of this demographic information may be useful and if any of the data proves interesting or significant in any way it may be an area for future research but it is not the focus of this study. Secondly, total scores wi ll be analyzed. Finally to test the hypotheses framed for the relationship between dependent and independent variables and to check the value that how much change comes in dependent variable due to independent variable, multiple regression analysis will be used.

Risk Management Analysis Essay -- Business Management

This assignment will discuss the theoretical basis of financial risk, because managers need to be aware that financial risk its present in all sectors of activity so that they can run business efficiently and take advantageous investment choices, considering the different types of financial risk relevant to the current economic climate, as well as evaluating the methods available to business for managing, and by observing a case study where risk management has possibly failed. Risk is the doubt about future gains or losses, thus such doubts reveal that some future expectation and their impact cannot be predicted Chorafas (2008). Markowitz cited in Brigham, Gapenski and Ehrhardt (1999), argues that the portfolio theory can get high expected returns on investment with low levels of risk. therefore, risk can be spread and consequently eradicated so does not concern investors, thus the only worrying risk for managers , is the market risk which cannot be eliminated. However, Arnold (2002), suggest that this fails to assert that portfolio risk does not need to be considered, thus resulting with a problem with the theory, because it uses historic data returns to support decision making about potential investments, and as risk is about uncertainty is difficult to calculate future events, therefore this theory may have gaps. Alternatively Brigham et al. (1999), argues that the CAPM model establishes a causal relation between risk and return on assets, where investors have the same expectations about the expected return and there are no transaction costs and taxes. However, Pike and Neale (1999) suggest that some concerns may occur related to the validity of this model because there are transaction costs and taxes which are sources o... ... Hillson, D., & Murray-Webster, R. (2007).  ´Ã‚ ´Understanding and Managing Risk Attitude ´Ã‚ ´. ( 2nd ed.). England: Gower Publishing Limited. Hamada, R. S., Bain, G., & Gerrity, T. P. (1998).  ´Ã‚ ´ Mastering Finance: single-source guide to becoming a master of Finance ´Ã‚ ´. England: Pearson education: Financial Times/Prentice Hall. Neale, B., & McElroy, T. (2004).  ´Ã‚ ´Business Finance: A Value-Based Approach ´Ã‚ ´. England: Pearson Education; Financial Times/Prentice Hall. Pike, R., & Neale, B.(1999). Corporate finance and investment : decisions and strategies. London ; New York : Prentice Hall. Voon-Choony, Yap., Hway-Boon, Ong., Kok-Thim, Chan., & Yueh-Sin, Ang. (2010). European Journal of Economy Finance and Administration Science.  ´Ã‚ ´Factors Affecting Bank ´s Risk Expoujiusure: Evidence from Malaysia ´Ã‚ ´. Issue 19, retrieved from: http://www.eurojournals.com/ejefas_19_09.pdf

The Seven-Years War :: American America History

The Seven-Years War The word "privateer" conjures a romantic image in the minds of most Americans. Tales of battle and bounty pervade the folklore of privateering, which has become a cherished, if often overlooked part of our shared heritage. Legends were forged during the battle for American independence, and these men were understandably glorified as part of the formation of our national identity. The fact of the matter is that the vast majority of these men were common opportunists, if noteworthy naval warriors. The profit motive was the driving force behind almost all of their expeditions, and a successful privateer could easily become quite wealthy. In times of peace, these men would be common pirates, pariahs of the maritime community. Commissioned in times of war, they were respected entrepreneurs, serving their purses and their country, if only incidentally the latter. However vulgar their motivation, the system of privateering arose because it provided a valuable service to thecountry, and inde ed the American Revolution might not have been won without their involvement. Many scholars agree that all war begins for economic reasons, and the privateers of the war for independence contributed by attacking the commercial livelihood of Great Britain's merchants. It is ironic that the entire notion of privateering began in Great Britain. In 1649 a frigate named Constant-Warwick was constructed in England for a privateer in the employ of the Earl of Warwick. Seeing how profitable this investment was, a great many of the English peerage commissioned their own privateers. The Seven-Years War saw the proliferation of privateering on both the English and French coasts as each attempted to disrupt their opponent's colonial trade. American investors quickly entered this battle, commissioning ships to prey upon cargo vessels coming to and from French colonial holdings in the Americas. Here began the American privateer heritage, and when the American Revolution began many of these same men viewed the opportunity to profit, and resumed their ventures. The American privateer vessel was a ship "armed and fitted out at private expense for the purpose of preying on the enemy's commerce to the profit of her owners". Not just anyone could be a privateer, however. What distinguished a privateer from a common pirate was a commission, or a letter of marque. These were granted by the government, and were quite easily obtained. The government's benefit was twofold. First, the revolutionary government took a share of the profits from the sale of any cargo captured by a commissioned privateer.

Computers Affecting Our Lives :: essays research papers

Computers   Ã‚  Ã‚  Ã‚  Ã‚  Since the beginning of human life, we as a people have always strived to obtain machines or tools to make our lives easier. Before the computer was invented in 1822, people were performing boring, repetitive tasks that we now take for granted. The computer, a modern complex machine, now accomplishes things we never thought possible. Computers, in general, have many benefits for they provide entertainment, help modern cities function, above all, make the most aggravating and mundane tasks incredibly simple.   Ã‚  Ã‚  Ã‚  Ã‚  One of the least important aspects of computers is that it provides entertainment and yet this is the sole reason why many people buy computers. The gaming and entertainment industry has become extremely large in the world, the products they sell range from shareware games to adult blood and gore. For instance, the 3D-shooter series, Quake, has sold millions of copies and essentially everyone in the world has seen it or played it. The entertainment industry not only provides gaming amusement but it also contributes learning programs, for children and adults, to help individuals excel in a certain trouble areas. Furthermore, computers also are also capable of training military personal in a virtual reality environment. An example of this is the U.S. and Canadian military, they both train soldiers and pilots in the ways of war using high tech computers and virtual reality equipment. To sum up, entertainment on the computer may not be important but is does satisfy mi llion of people worldwide.   Ã‚  Ã‚  Ã‚  Ã‚  Cities as we know them today would not exist if it were not for the help of the computer. In a modern city hundreds of items are under control by computers and most of them we take for granted. For example, the traffic lights at all intersections are controlled by computers and sometimes even with the support of underground sensors. Without computers the entire electrical grid would fail and all of the world’s neoteric population would be without precious electricity. Another instance in which computers aid the modern city is the sewage and water system. Without computers, entire series of pumps and water stations would seize and stop working, which translates to a city without running water. On the whole, computers are a necessary innovation to help modern cities function to their fullest potential.   Ã‚  Ã‚  Ã‚  Ã‚  One of the most important uses of the computer is that it provides a person with a tool that can make the most difficult tasks incredibly insignificant. Computers Affecting Our Lives :: essays research papers Computers   Ã‚  Ã‚  Ã‚  Ã‚  Since the beginning of human life, we as a people have always strived to obtain machines or tools to make our lives easier. Before the computer was invented in 1822, people were performing boring, repetitive tasks that we now take for granted. The computer, a modern complex machine, now accomplishes things we never thought possible. Computers, in general, have many benefits for they provide entertainment, help modern cities function, above all, make the most aggravating and mundane tasks incredibly simple.   Ã‚  Ã‚  Ã‚  Ã‚  One of the least important aspects of computers is that it provides entertainment and yet this is the sole reason why many people buy computers. The gaming and entertainment industry has become extremely large in the world, the products they sell range from shareware games to adult blood and gore. For instance, the 3D-shooter series, Quake, has sold millions of copies and essentially everyone in the world has seen it or played it. The entertainment industry not only provides gaming amusement but it also contributes learning programs, for children and adults, to help individuals excel in a certain trouble areas. Furthermore, computers also are also capable of training military personal in a virtual reality environment. An example of this is the U.S. and Canadian military, they both train soldiers and pilots in the ways of war using high tech computers and virtual reality equipment. To sum up, entertainment on the computer may not be important but is does satisfy mi llion of people worldwide.   Ã‚  Ã‚  Ã‚  Ã‚  Cities as we know them today would not exist if it were not for the help of the computer. In a modern city hundreds of items are under control by computers and most of them we take for granted. For example, the traffic lights at all intersections are controlled by computers and sometimes even with the support of underground sensors. Without computers the entire electrical grid would fail and all of the world’s neoteric population would be without precious electricity. Another instance in which computers aid the modern city is the sewage and water system. Without computers, entire series of pumps and water stations would seize and stop working, which translates to a city without running water. On the whole, computers are a necessary innovation to help modern cities function to their fullest potential.   Ã‚  Ã‚  Ã‚  Ã‚  One of the most important uses of the computer is that it provides a person with a tool that can make the most difficult tasks incredibly insignificant.

Industrialize or Perish

â€Å"Industrialize or Perish† Industries refer to units that are engaged in the business activity of converting raw materials or semi-finished goods into finished or final goods, which are then made available to the final consumers. For any economy to flourish industrialization is very essential. Industries act as major accelerators of economic development in a country. There are many advantages of having a good industrial system functioning in a country. Especially in a developing country like India, Industries are of utmost importance.They provide the vast population with better employment opportunities, better standard of living, better supply of goods and services and so on. However, in a vast country like India it is important that the functioning of these industries be monitored. Here comes the need for a strong and efficient Industrial Policy. In order to see to that the industries function in the desired manner it is essential that these industries be kept under obser vation and also the government works on the functioning of these industries. Industrial Policy is an important document which lays a wide canvas and sets the tone for implementing promotional and regulatory roles of the government. † – K. Aswathappa Thus, it is clear from the above definition that an Industrial Policy lays down a definite framework that governs and monitors the functioning of the industries in a country. It is essential to understand the importance or reasons behind having a strong and efficient Industrial Policy in any country: a. Balanced Development of industries b. Meet National Priorities c. Regulate Expansion of Private Industries d. Prevent Concentration of Wealth in Few Hands e.Monitor Foreign Trade Three Major Industrial Policies in India: There have been three major industrial policies in the Indian Industrial context. The first was Industrial Policy Resolution of 1948. This resolution soon after the independence focused on accepting the role of both private and public sector units in the country, role of small and cottage industries and also remarked that the small and cottage industries are major employing industrial units. This resolution also divided the industries into four categories – Industries where state had monopolies, mixed sector, the field of government control and the field of private enterprise.This resolution did not give much importance for the welcoming of foreign capital. Second important industrial policy was Industrial Policy of 1956. This policy focused on accelerating the rate of economic growth and speeding of industrialization, importance of public sectors, prevent monopolies and reducing income disparities. This policy was highly criticized for giving importance for the development of public sector units rather than the private enterprises. Third and the most important is the Industrial Policy of 1991. This year is also called as the year of economic reforms in India.This marked the majo r shift of the Indian Economy from closed to open economy. Liberalization, Privatization and Globalization was introduced in the economy in order to encourage competition in the economy. This policy focused on the following spheres Abolishing Industrial Licensing, Encouraging Foreign investment and foreign trade agreements, reducing the importance of public sector units and liberalizing the restrictions on the working of industries. Recent Developments in Industrial Policy: Change is inevitable and nothing can escape change. So are the industrial sector and the industrial policy.Over the years the industrial policy has gone through many changes and developments. Some of the recent developments in Industrial sector Policy are as follows: a. Liberalization: The Industrial Policy of earlier years focused more on stringent rules and regulation. The tariff policies, trade regulations etc were strict and prevented the development of industries. This policy was used in order to protect som e industries. However, now after the reforms in 1991 the scenario has completely changed. The economy is now more liberal in terms of tariff and foreign trade rules.This has increased the investment in certain sectors and has also increased the overall national income. Liberalization has also enabled the economy to be self sufficient. This will reduce the dependence of the domestic economy on foreign economy. b. Globalization: Today the Indian market is merged with the global market. This has increased the competition for domestic industries leading to better quality goods, efficient working of the organization and also reduced prices. Globalization has added on more jobs for the citizens within the country.Now global markets have made it possible for the consumers to choose from a wide variety of products. It also increases the foreign trade of the country. c. Reduced Role of Public Sector: The role of public sector over the years has reduced. Due to this there is a reduction in hi ndrances such as Bureaucracy and Red-Tapism. Thus, the reduced role of public sector has certainly helped the economy to grow and develop efficiently and effectively. This has also reduced the burden on the government budgets. Also, many sick units have now been converted into private enterprises.Thus, this has also increased the revenue of the country. d. De-licensing: There was a license raj before the introduction of the 1991 reforms. Now the economy is relived of this. The government in order to encourage investment has abolished the compulsory licensing for all industries except a few that are strategic and defense related and which seek governmental supervision. De-licensing is the major change that has improved the total investment in the economy. Larger investment means better services and better supply of goods. Also, de-licensing has increased the scope for more and more industrial units to be set up. . Foreign Technological Agreements: In recent times there has been a gre at importance given for foreign technological agreements. Due to import of foreign technology into the country the efficiency of the domestic industries have improved. Also, this has helped the domestic companies flourish not only within the geographical boundaries of a country but also globally. f. Consumer is King: Due to the increase in competition for domestic industries the consumers have been benefited a lot. The consumers have a vast range of products to choose from and also globalization has put a stop for the expansion of Monopolies. . Autonomy to Private Sector: Over the years there has been many measures adopted in order to give more autonomy for private enterprises. Some of the measures are disinvestment, privatization, etc. h. Importance of Small Scale Industries: The importance of the small and cottage industries are highlighted in all the industrial policy resolutions. The small scale industries are encouraged for the numerous benefits they provide the economy with su ch as, employment, increase in the national income, increase in exports, etc. i.Importance of Information Technology: In recent years the importance of IT sector has increased tremendously. This has led to flourishing of Business Process Outsourcing (BPOs) and Knowledge Process Outsourcing (KPOs). Thus, these were some of the recent development or trends in the Industrial Policy of India. Reference: 1. Essentials of Business Environment – K. Aswathappa 2. en. wikipedia. org 3. Study on Industrial Policy and Services – European Commission 4. What is the importance of industries to our country? – Saptarshi Dutta (PreserveArticles. com)