Good Managers Are Born Not Made Management Essay

Good Managers Are Born Not Made Management Essay The key to a successful organization is said to lie within a good manager. It is in fact the effectiveness of this manager and the qualities that they possess that are vital to the development and preservation of an efficient management system within a corporation. The question remains however, as to whether or not these good managers are born, if they possess qualities that will mould them into fantastic leaders of the future. Or are they made? Is it possible to develop and acquire the necessary skills to become the good manager a successful organization needs? It should first be acknowledged that leaders and managers are often referred to assuming they are the exact same thing however, there are some differences that need to be clarified. There is often some confusion due to the fact that it is particularly difficult to define a manager because a universally accepted definition does not exist. According to Tripathi, (2008, p.2) a manager is one who contributes to the organisations goals indirectly by directing the efforts of others-not by performing the task himself. Leadership and management are closely interrelated because if you are a manager of an organization, you are in essence the most important leader (Kouzes Posner 2010, p.338). The most obvious distinction between a leader and a manager lies within what leadership refers to. Leadership does not refer to a position at the top of an organization and just because a manager holds that specific position, it does not mean they are leading. Leaders have willing followers where their right to lead is earned from those followers through their influence. They intend to make change using their personal power and cannot use coercion but instead inspire with their vision (Huth 2001). A manager on the other hand, must hold the authority to achieve results through other people whereby their right to manage is granted by ownership. Managers must be in a position of power where they can use coercion and coordinate activities (Huth 2001). However, nobody can deny that one compliments the other. It could appear that based on the above one could quite possible be born a leader but not a manager, although this can also be disputed. Kouzes and Posner (2010, p.339) consider it a myth that the noti on of leadership is reserved for those lucky enough to be born with it. Leadership is, an observable set of skills and abilities (Kouzes Posner 2010, p.338). Therefore the query still remains as to whether a good manager can be made; it may just be that a good manager must also be required to possess good leadership skills. There are surely many corporations that still value the theory that: Good managers are born not made, however the common organizational failures that can be detected within many individual companies suggest that this theory is in fact flawed. Werner and DeSimone (2006, p.441) suggest that management development is a huge way to increase the effectiveness of managers within an organization. Werner and DeSimone (2006, p.441) make a strong point emphasizing that even though according to popular belief the ability to manage is an inborn capability, there is a contemporary view that the KSAOs (knowledge, skills, abilities and other characteristics) which all work to develop an effective manager can be learned or acquired. Nonetheless, before touching on how companies can establish a new found understanding on developing effective management within an organization, the notion of management development must firstly be explained. Werner and DeSimone (2006, p.441) defined management developme nt as: An organizations conscious effort to provide its managers (and potential managers) with opportunities to learn, grow, and change, in hopes of producing over the long term a cadre of managers with the skills necessary to function effectively in that organization. The definition above supports the notion that management development should be seen specific to a particular organization. This is due to the fact that each organization is unique and should aim to develop individuals into effective managers within the context of the particular organization. In addition, the entire idea behind management development is the fact that employees are granted the opportunity to learn, grow and improve. Therefore when you refer this back to the ability to further develop ones skills, according to Werner and DeSimone (2006, p.441) it assists managers in learning how to learn. The authors also indicate that management development is made up of three components: (1) management education, (2) management training, and (3) on-the-job experiences (Werner DeSimone 2006, p.442). It is these very components that Werner and DeSimone believe strongly contribute to the development of an effective manager. Williamson (2006) concurs that on the job experience is one of the most significant learning curves. According to Williamson (2006) an effective manager is made up of a range of skills that go beyond the misconception that the sole role of a manager is to tell people what to do. Williamson (2006) made a list of characteristics and skills that are necessary for a manager to possess to therefore be effective. Some of these skills and characteristics include; being knowledgeable by understanding the goals and objectives of the company. Understanding the expectations you must meet along with the goals and objectives. Appreciating and understand the value of their team, being empathetic and knowing how to manage their time and use their time efficiently, passing those skills onto their team. All of the above are examples of skills that are gained through training and through experience, in conjunction with the components of Werner and DeSimone. A good manager is required to work hard and pour a lot of effort into his job experience to extract the necessary lessons from each experience, learning and growing. There is disagreement amongst management writers about the classification of managerial functions however Tripathi (2008, p.3) classifies the functions into six types; Planning, Organising, Directing, Controlling, Innovation and Representation. Planning is the function that determines what should be done, preparing for the future. Organising refers to providing the business with everything useful to its functioning including, personnel, raw materials, tools, capital. Furthermore Tripathi (2008, p.3) includes staffing as a function within Organising whereby the manager attempts to find the right person for each job. Just by taking these two functions as an example it can be noted that life and work experience play a huge part in the development of an effective manager. One cannot be born with the knowledge to understand the needs of an organisation nor can they have the experience to judge a persons capabilities and allocate them the appropriate job. These capabilities are acquired and developed over time. There will always be the belief that good managers are born and in fact not made, because they hold the ability to manage which is something innate and cannot be imparted by training.

Making the Climb :: Personal Narrative Hiking Essays

Making the Climb The alarm clock rang and I forced myself out of bed. I took a shower, ate breakfast, brushed my teeth--all my other normal morning routines. But that day was not normal at all. I was going to do something with my English class that I never thought I would do. I was going to hike up Poly Canyon. With a horrible night’s sleep and a sore throat, I was not in the mood to undergo a â€Å"moderately strenuous† hike, but I pushed myself to get ready. Once the entire class had assembled, we made our way to the Poly Canyon gate where we would meet Professor Marx. The overcast sky and moist air were usual characteristics of San Luis Obispo mornings. I was not yet accustomed to this: I never dared to go outside before eight o’clock in the morning. The rest of the class shared my irritation over the fact that it was freezing and very early. After passing by dormitories and the Cerro Vista Apartments, we reached the meeting place where I could just make out the sight of Mr. Marx. Unlike the rest of us, he was bright eyed and ready to begin the walk. Silence swept over the entire group as we began our trek. Nothing could be heard except the crunch of gravel underneath our feet and the occasional explanatory interjections by our professor regarding the surrounding plants and rocks. Huge formations of serpentinite created a wall on one side of the trail, and on the other side the mountains were covered in blankets of coastal scrub. After a few minutes every bush and rock looked the same to me and I could not identify with Mr. Marx’s admiration for the beauty of that area. Even with the surprising deer sightings and geological features around me, I could only think about the end of the hike. Twenty minutes into the walk on the tan graveled road, something caught my eye. A tall antique-looking arch of rocks faced us. Its looming frame forced us to crane our stiff necks to view it. The very top was wearing thin and looked as if it was going to collapse in on itself. The arch was the entrance to a path lined with a low rock wall on either side. The mist created a moist refrigerator-like atmosphere; we gladly sat down on the walls to take a break. Making the Climb :: Personal Narrative Hiking Essays Making the Climb The alarm clock rang and I forced myself out of bed. I took a shower, ate breakfast, brushed my teeth--all my other normal morning routines. But that day was not normal at all. I was going to do something with my English class that I never thought I would do. I was going to hike up Poly Canyon. With a horrible night’s sleep and a sore throat, I was not in the mood to undergo a â€Å"moderately strenuous† hike, but I pushed myself to get ready. Once the entire class had assembled, we made our way to the Poly Canyon gate where we would meet Professor Marx. The overcast sky and moist air were usual characteristics of San Luis Obispo mornings. I was not yet accustomed to this: I never dared to go outside before eight o’clock in the morning. The rest of the class shared my irritation over the fact that it was freezing and very early. After passing by dormitories and the Cerro Vista Apartments, we reached the meeting place where I could just make out the sight of Mr. Marx. Unlike the rest of us, he was bright eyed and ready to begin the walk. Silence swept over the entire group as we began our trek. Nothing could be heard except the crunch of gravel underneath our feet and the occasional explanatory interjections by our professor regarding the surrounding plants and rocks. Huge formations of serpentinite created a wall on one side of the trail, and on the other side the mountains were covered in blankets of coastal scrub. After a few minutes every bush and rock looked the same to me and I could not identify with Mr. Marx’s admiration for the beauty of that area. Even with the surprising deer sightings and geological features around me, I could only think about the end of the hike. Twenty minutes into the walk on the tan graveled road, something caught my eye. A tall antique-looking arch of rocks faced us. Its looming frame forced us to crane our stiff necks to view it. The very top was wearing thin and looked as if it was going to collapse in on itself. The arch was the entrance to a path lined with a low rock wall on either side. The mist created a moist refrigerator-like atmosphere; we gladly sat down on the walls to take a break.

Insider Trading: Should It Be Abolished? Essay

Insider trading is defined as â€Å" trading whilst in possession of non-public information and if known to the public, may lead to a substantial movement in a security’s price† . In Australia it is prohibited by insider trading regulation (IT regulations) in the Corporations Law (CL) 1991 , though it was initially established from recommendations made by the Rae committee in 1974 on the mining company scandals . The latest law changed one single section to 20 wide and complex sections, causing critique of Australia IT regulations . Henry G Manne argued that IT regulations should be abolished supported by three basic economic arguments. This essay will examine the pro and contra of each argument and shows that IT regulations have spoiled the notion of fairness at the expense of efficiency, despite the objective of any securities markets regulation to promote both aspects . 1. Insider trading could compensate corporate entrepreneurs . Pro and Contra This argument is supported by Carlton and Fischel who argued that the IT regulations are the same with setting government regulation of terms and conditions of employment; similar to restrict salary bonuses, stock options, vacation leave, and the others which can motivate management for their entrepreneurial skills . However their assumptions ignore the difference between the volatile share price and a certain amount of normal compensation. As argued by Easterbrook, where there is a volatile share price, the management compensation argument reverts into a â€Å"lottery-ticket argument† . Because in the volatile share price, even informed traders will hardly predict the increase or decrease of share price in the future. The high fluctuation equalizes the possibility of losing their investment and getting profit, which as called ‘compensation’. From the two extremes, It can be concluded that compensation argument can be valid if the share price is relatively stable otherwise not all insiders can get their compensation through insider trading. Director’s fiduciary duty to Shareholder However, if IT regulation were only applied for a liquid market, what is the role of fiduciary duty? In Exicom’s case fiduciary argument was established where persons who are subject to a legal relationship of trust and confidence, arising from either a prior relationship with the securities issuer (typically directors, employees and corporate agents) or the other party to trade should not make a profit from that position or allow a conflict of interest to arise. Moore supports IT regulation on the basis of fiduciary duty. He reasons that directors have some fiduciary duty to their shareholder to fully disclose all information they could benefit from. His idea is supported by the fact that although there is no general principal that directors owe fiduciary duty to shareholders (in addition to the company), with the purpose to prevent directors when in the position of holding confidential information to spread the it to outsiders , such duty in recognized in Hooker’s case . Sub Conclusion Insider trading as a compensation for corporate executive is argued only happened in a stable market where they can use the information to predict the trend otherwise the profit compensation turn to be a lottery compensation. Here fiduciary duty of the insiders is questioned where in Hooker’s case it is possible that directors owe fiduciary duty to shareholder although there is no general principal on it. 2. Insider Trading Contributes to Market Efficiency Pro from Leland and Estrada Manne argued that ‘allowing an unfettered market in information will have salutary effects unheard of in connection with regulatory â€Å"disclosure†Ã¢â‚¬â„¢ . Recently, Leland and Estrada also stated similar idea that insider trading contributes to market efficiency through signaling where signal-trading by insiders pushed share price more quickly towards its equilibrium price. Pro from Empirical Measures Theory Moreover, empirical measure presents a theory; the more information gets into market, the lower transaction cost, the more liquid the market and the smaller volatility produced. Since investors get more helpful information to predict market trend, the transaction cost here is lower. Transaction cost is the cost to take the risk if the companies, which they invest in, somehow default. Thus lower transaction cost is equivalent to lower risk, which can encourage more investor to trade. As trading in the market occurs significantly in one flow (either buy or sell) based on the information they got, the volatility, which represented by the bid-ask (difference between the buy and sell quotes at any one time), decreases. Consequently liquidity increases. Evidence from Real Study In practice, Dodd and Officer found evidence that no significant abnormal returns (return of a security over its average or expected return) occurred on the day take over rumour was published, although some abnormal returns typically occurred prior to the publicity of rumour. This prior abnormal return must be because of insider trading, as the unpublished information they possess allow them to predict the trend up to takeover bid, thus, at the date of take over published, market already reached equilibrium price. Contra from Cox and Georgakopoulos and Response from Wyatt However, there are some disagreements on Manne argument. First, Cox claims that insider trading cannot make the price movement towards equilibrium price purely by their own actions . Also microstructure theory by Georgakopoulos, which states that whether support or against insider trading is depending on the market liquidity . A liquid market as discussed in the compensation arguments will give more benefit to insiders because the votality is lower and they can easily predict trend in stable price, hence, IT regulations in this case can be useful. On the other hand, illiquid market leads both insider and outsider traders away regardless the information they received since the votality is high and even unpublished information may just let them gamble on the security’s price, hence, in such market the presence of IT regulations has no effect to the market. The idea is that the uninformed traders is discourage to involve in market because of unfairness arise from the profit making activity by informed traders, hence, reducing the market effectiveness. For all that, both claims can be doubtful considering Wyatt suggestion that outsiders follow insiders action and further can encourage market liquidity . His suggestion is also supported by the fact that trader’s identity is kept confidential, thus, uninformed traders cannot be certain of the percentage of informed traders which make them discourage from trading. IT Regulation Distorts Market Efficiency Further issue is whether IT regulation increase market efficiency or it just increase the cost of compliance for companies and financial services firms? If IT regulation inhibits market efficiency then it should be revised. IT regulations in Australia reinforces continous disclosure (CD) regulations such in Crown Casino’s case where the chairman, who has no power on the company’s behalf, disclosed information to outsiders before the board disclosed it to the Exchange. The court emphasized on the breach of continous disclosure specifically on the abuse of the term ‘immediately’ . If IT regulation is just a flip-case of CD regulations, then it is obsolescent, as CD regulation already governs tardy disclosure . Sub Conclusion nsider trading contributes to market efficiency by moving the share price more quickly towards equilibrium price is supported by empirical measure which shows that insider trading increase market liquidity, and by Dodd and Officer finding on significance abnormal returns prior to take over rumour instead of on the date of publicity. Although Cox and Georgakopoulos go against the concept, Wyatt response that their arguments can be the contrary, that informed traders can be an opportunity for uninformed traders to get profit by following them instead of discourage them by unfairness. 3. Insider Trading and Long-term Investors Pro and Contra Finally, insider trading does no significant harm for long-term investors , â€Å"whose market decisions will be a function of time† . In detail, Manne asserts that the less frequent someone trades, the less significant effect of the unfair use of valuable information from insider trading they receive. Such investors just make investment on the basis that they are timely and not affected by the share price, which is affected by insider trading. However, this view is questioned by Schotland . He argued that even long-term investor needs cash and when they need it they will consider to ait for a right price to sell it. Further, Manne suggest that long term investor can ignore price to avoid being harmed by the effect of insider trading, expect for one, which is the lost of not having inside information in the range of the buying and selling price so that it is insignificant. Here Manne only refers to one investment. Yet, how about when the investors have more than one (in which the common condition to diversify)? They may need to watch a series of share price otherwise they will end up will sell it with no profit after putting so much faith waiting for it. Sub Conclusion Insider trading does no significant harm for long-term investors as they just invest on the basis of time instead of share price and only need to watch insignificant loss from the valuable information exploited by insider trading. The idea is fully objected by Schotland by arguing even long-term investors need cash and should consider the right price to sell the share. Also the insignificant loss only refers to one share, but in practice long-term investor such as retirees diversify shares by holding more than one. Conclusion In summary, the essay demonstrates a number of both pros and contras of whether insider trading should be abolished. Looking the above discussion, insider trading should be outlawed as it can cause significant harm to investors. It is also contradict with fiduciary argument. However, Insider trading is also evidenced contribute to market efficiency. Moreover, as in Crown Casino’s case, IT regulation is criticized to be a mere flip-case of CD regulation and the presence just increase the cost of compliance. Therefore, It would be better if IT regulations is revised in a way that promote both fairness and efficiency equally.

Linguistic Relativity And Linguistic Determinism - 1767 Words

A topic that is controversial in the field of psychology-particularly cognitive psychology- is the Sapir-Whorf Linguistic Relativity Hypothesis. This hypothesis, developed by Edward Sapir in 1929 with the help of his student Benjamin Whorf, states that language affects cognition and perception (Kay Kempton). The two main components of this theory are linguistic relativity and linguistic determinism. Linguistic relativity is the idea that the grammar and structure of a language affect cognitive processes in some way, while linguistic determinism goes beyond that claiming that one’s native language affects their whole world view and values (Kay Kempton). Linguistic relativity can and has been subject to many psychological experiments. However, it is more difficult to research the concept of linguistic determinism as it is hard to determine one’s â€Å"world view† in a scientific manner (â€Å"Language and Thought†). In addition, one person’s view of the world may not be the same as everyone’s view of the world who speaks the same language. Particularly in the case of widely used languages that are spoken across many cultures, such as English and Spanish. Together, the ideas of linguistic relativity and linguistic determinism form the Sapir-Whorf Linguistic Relativity Hypothesis. Researchers have looked at components like grammar and vocabulary to show how language can affect cognition, particular how one’s native language affects the perception of concepts like time. One studyShow MoreRelated Sapir-Worf Hypothesis: Linguistic Determinism and Linguistic Relativity845 Words   |  4 PagesSapir-Worf Hypothesis: Linguistic Determinism and Linguistic Relativity The romantic idealism of the late eighteenth century, as encountered in the views of Johann Herder (1744-1803) and Wilhelm von Humboldt (I 762-1835), placed great value on the diversity of the world’s languages and cultures. The tradition was taken up by the American linguist and anthropologist Edward Sapir (1884-1939) and his pupil Benjamin Lee Whorf (1897-1941), and resulted in a view about the relation between languageRead MoreWhat Are The Four Primary Types Of Human Adaptation?1685 Words   |  7 PagesTheory of Linguistic Relativity, states that the actions and thoughts of an individual are determined by his or her language. In other words, this hypothesis claims that the perception of reality is shaped by the individual’s thoughts. According to Sapir, â€Å"It is quite an illusion to imagine that one adjusts to reality essentially without the use of language and that language is merely an incidental means of solving specific problems of communication or reflecti on† (69). 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In the late 1990sRead MoreThe Way Specific Language Is Structured Can Shape How A Person Understands About And Perceives Reality?2114 Words   |  9 Pag esprincipal of linguistic relativity which states that the way language is structured can affect the speakers’ world or cognition. In order to believe that what one person perceives is dependent on the spoken word, you must believe the idea that thought is dependent on language. The Theory of Linguistic Relativity, or the Sapir-Whorfian hypothesis states that, â€Å"†¦one’s language shapes one’s view of reality† (Badhesha, R. S. 2002). The theory can be broken down into two parts, linguistic determinism and linguisticRead MoreSemantic Theories Of Natural Language1247 Words   |  5 Pages Slobin claims†There is a process of â€Å"thinking for speaking† in which cognition plays a dynamic role within the framework of linguistic expression: Dan L. Slobin () describes a cognitive process, which he labelled thinking for speaking . This is the kind of processes in which perceptional data and other kinds of pre linguistic cognition are translated into linguistic terms for the purpose of communicating them to others. â€Å"Thinking for speaking† involves picking those characteristics that (a)Read MoreGilead Literary Analysis1885 Words   |  8 Pagestotalitarian regime by using language to regulate the words and ideas that people can express, similar to linguistic determinism. In Eleanor Rosch’s (1974) article of Linguistic relativity, she identified both a strong and weak version of the linguistic relativity hypotheses, a degree in which language is presumed to influence our thought and behavior. The weak hypothesis is linguistic relativity, where linguistic categories and usage only influence thought and decisions. (Rosch, 1974). However the Gilead’sRead MoreSociocultural Theory And Second Language Learning902 Words   |  4 Pagesboth a macro level [institutional arrangements] and micro level [e.g. conversation]. In this part, I will outline main principles of the Vygotsky’s theory of linguistic mediation [based on the definition of language as a mean of mediation ] and Whorf ‘s theory [based on definition of the language is as a shaper of ideas]. 1.1 The Linguistics Mediation of Psychological Processes â€Å"Language as a mean of mediation† According to Wertsch [1985], Vygotsky’s primary concern was with language as a psychologicalRead MoreThe Relation Between Cognition And Language2500 Words   |  10 Pagesrelation between cognition and language has been a curious topic for many decades now. Cognition plays a dynamic role within linguistic expression Most of current discussion in layman’s crowd is on a speaker’s ability to impart influence on an audience. We study the power of language in propaganda. We look at the sway that specific words have on an individual’s emotions. Linguistic scholars have looked into the opposite- the influence of words on the speaker. Around the world there are almost 8000 languages