...BUSINESS SCHOOL Cover Sheet for Individual Assignment Name Soo Piang Chin | Student ID a1658629 | Course name Fundamentals of Leadership | Lecturer name Lois Whittall | Due date 27/04/2014 | Word Count (excluding headings, tables, references and appendices): 2748 | KEEP A COPYPlease be sure to make a copy of your work before you submit it. On rare occasions an assignment gets lost in the system. In such a case you must be able to provide another copy. PLAGIARISM Plagiarism is the presentation by a student of an assignment that has been copied in whole or in part from another student’s work, or from any other source (eg published books or periodicals or internet sites) without proper acknowledgment in the text.COLLUSIONCollusion is the presentation by a student of an assignment, as his or her own which is in fact the result in whole or part of unauthorised collaboration with another person or persons. | | CONSEQUENCES OF PLAGIARISM AND COLLUSIONIn any case where a student has been involved in plagiarism or collusion, this will be reported to the Dean. It may be reported to Student Administration and recorded on the student’s academic file.In any case where a student has been involved in plagiarism or collusion in an assessable task the marks awarded for that task will be zero, and no substitution of an alternative task will normally be permitted.In any case in which a student has been involved in plagiarism or collusion the Dean may refer it to the Departmental...
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...Four Fundamentals of Leadership in Combat MSG Jose A. Rosario United States Army Sergeants Major Academy Class 63 SGM Merritt, Darrick / Mr. Lemire Mike 30 August 2012 Abstract The United States Army has transformed itself into a professional entity that demands its leaders to be effective while maintaining certain skills and attributes. Though these leadership skills and attributes vary from one leader to the next, ultimately there is one common goal, accomplish the mission at hand. The Four Fundamentals of Leadership provides Army leaders the foundation needed to be successful. If applied properly, the four fundamentals can be an essential tool for any leader in garrison and in combat. Four Fundamentals of Leadership in Combat Leadership Army Leadership Defined Field Manual 6-22 (2003) defines Military Leadership as, “Influencing people by providing purpose, motivation, and direction while operating to accomplish the mission and improve the organization.” This definition is the foundation of any good leader. The task of influencing others to execute a successful and effective mission can be infinitely more complicated than one would imagine. The act of war alone is complicated and often can be confusing to the young and inexperienced Soldier. With this knowledge, it is the responsibility of military leaders to provide Soldiers with those key factors mentioned above; purpose, motivation, and direction connect directly to the four fundamentals of leadership...
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...American University of Humanitarian Course: Leadership Timeline 09 October * Introduction 16 October * Explaining and understanding the nature of good leadership * Who are the good Leaders? 23 October * Traditional Concepts of Leadership * Leader’s Attitude and Behavior 30 October * Team presentation (mini) 3 groups with different assignments * Leader’s Attitude and Behavior 06 November * Leadership Qualities * The Psychological contact 13 November * Video assignment and Team presentation * Selection of the presentation topic for Mid Term Exam (November 27th, 2011); The presentation is individual, 10 minutes, 5 minutes for Q&A. The Mid Term Exam value is 20 points Suggested topics: * Leadership qualities - Lead more effectively and Inspire your team * My favorite Leader – qualities, skills and legacy – why he/she became a leader, advantages and obstacles; why he/she became successful, etc. * Right Time – Right Place – Leaders by chance? * Ethical Leadership * Character and Leadership Fundamentals * Leader and the followers vs. Manager and Employees * Team Building – is it so important? * Autocratic Leadership vs. Democratic Leadership * Inspiring Others: Change Yourself, Change the World * In the Service of Others The evaluation (assessment) of the Individual presentation is based on: * Visual Presentation (quality and vision) as well as contact with auditorium (presentation skills) ...
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...Report on leadership theores 1.0 Introduction A distinction of leadership from management suggested by Gold, Thorpe and Mumford, (2010:26) indicates that Managers plan, set targets, allocate resources and steps to achieving goals while at the same time organising human resources with the aim to delegate responsibilities. The role is control motivated and focuses on completion of tasks. Whereas, Leaders are accountable for envisioning based on direction, communication, support, empowerment to instil strength and unity in the workforce. Leaders encompass motivation and inspiration in subordinates though involvement in the process, recognising and rewarding success while nurturing informal relationships and networks. Early leadership theories focused on the leaders and which qualities distinguished leaders and followers, the notion of Great man theory which Bass suggests (in Northouse: 15) is the notion of heroic leaders that are born not made, like Mohandas Gandhi. Leadership theories evolved from great man though trait theories, behaviourist theories, situational leadership, contingency theory and on to transactional and transformational leadership. The progression of theories highlights a shift in generic characteristics and behaviors of leaders to recognition of the importance of responding to different situations and contexts and the leaders’ role in relation to followers. (Gosling, Marturano, and Dennison. 2003:6) Great man theory developed in the mid-19th century was...
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...the world's leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. Their products are sold in over 150 countries and territories under a number of well-known brand names. They are also the global licensee for fragrances and cosmetics sold under various designer brand names. Each brand is distinctly positioned within the market for cosmetics and other beauty products. They are a pioneer in the cosmetics industry and believe they are a leader in the industry due to the global recognition of their brand names, their leadership in product innovation, their strong position in key geographic markets and the consistently high quality of their products and "High-Touch" services. At first,fundamental analysis uses earnings and dividend prospects of the firm ,expectations of future interest rates,and risk evaluation of the firm to determine proper stock prices.So l will use the fundamental analysis to analyze this chart. From the chart above,we can find that earning per share goes up gradually.It shows that EL company tend to be mature now. The speed of rate of return that investors will get is going up.That means investors will be more quicker to get the return and the company will tend to be stable and be promising in the future because they will have more capital inflows.Besides, we can see that net cash flow overall goes up although it experienced a little fluctuations. It means that EL company’s financial situation are recovering.This will...
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...that after the forces that are depressing the stock have diminished, the market price of value stock can only go upward from the bottom position to realize the stock’s hidden potential value at some point in the future. Notably, the key assumption is that once the market finally acknowledges the inefficiency that the price is too low when compared to the expected future returns, it will bump up the price and the value investors will directly benefit from the capital gain on those value stocks. Basing on this ground and reinforced with stellar performance of the U.S. Active as well as Pelican Fund during 1980s to 1990s, GMO strongly believe that a portfolio of securities that sells below is inherent worth or that may be worth more after fundamental changes can consistently provide above average returns relative to the total market. 2. What are the differences between value and growth...
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...that after the forces that are depressing the stock have diminished, the market price of value stock can only go upward from the bottom position to realize the stock’s hidden potential value at some point in the future. Notably, the key assumption is that once the market finally acknowledges the inefficiency that the price is too low when compared to the expected future returns, it will bump up the price and the value investors will directly benefit from the capital gain on those value stocks. Basing on this ground and reinforced with stellar performance of the U.S. Active as well as Pelican Fund during 1980s to 1990s, GMO strongly believe that a portfolio of securities that sells below is inherent worth or that may be worth more after fundamental changes can consistently provide above average returns relative to the total market. 2....
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...Fundamental & Technical Analysis of Prime Bank Ltd. Technical analysis looks at the price movement of a security and uses this data to predict its future price movements. Fundamental analysis on the other hand looks at economic factors which are known as fundamentals. Fundamental & Technical Analysis of Prime Bank Ltd. Group:16 Department of Finance. Jagannath University, Dhaka Page Fundamental & Technical Analysis of Prime Bank Ltd. Submitted To, Kawser Ahmed Shiblu Lecturer Department of Finance Jagannath University, Dhaka Submitted By Uttam Golder On the behalf of Group: 16 Department of finance Jagannath University, Dhaka Department of Finance. Jagannath University, Dhaka Page i Fundamental & Technical Analysis of Prime Bank Ltd. List of Group Member Serial 1. 2. 3. 4. 5. Name Uttam Golder Rajib Chandra Banik Md. Monir Hossain Joy Roy Choudhury Md. Al-Masur Rahaman Khan ID M 130203004 M 130203025 M 130203069 M 130203033 M 130203077 Department of Finance. Jagannath University, Dhaka Page ii Fundamental & Technical Analysis of Prime Bank Ltd. Letter of Transmittal February 15, 2015 Kawser Ahmed Shiblu Lecturer Department of Finance, Jagannath University, Dhaka Subject: - Submission of report on “Fundamental & Technical Analysis of Prime Bank Ltd.” Dear Sir, With due respect, we would like to state that it is a matter of great pleasure and honor for us to submit our report on...
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...Is stock market performance linked to business performance? Abstract Still in the heart of an unprecedented financial crisis, new questions came up about the working of the stock market. In the eyes of general public the stock market can seem a lot like gambling to the extent that this one was reconsidered. The stock market index seems to be valuating at random, especially since the last financial crisis. But the fact that stock market plays an important role in the health of the economy turn impossible this though from general public, which leads us to ask the following question: how the stock market is influenced? We will adopt a general approach and focus on the probable influence of business performance on stock market performance. In order to do so, we collected information and date from Standard and Poor’s source and from specialized source. Executive summary The first modern stock market, today called the New York Stock Exchange (NYSE) was established in 1792 in New York City . The purpose of the stock market is to give the opportunity to companies to open themselves up to public investment in order to raise capital. The stock market is composed of a primary market and a secondary market. The primary market is where a company sells shares for the first time or issues new ones. In the secondary market investors trade securities or assets with other investors, the cash proceeds from transactions go to the investors instead of the company. At this point...
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...REVISITING MARKET EFFICIENCY: THE STOCK MARKET AS A COMPLEX ADAPTIVE SYSTEM by Michael J. Mauboussin, Credit Suisse First Boston t is time to shift the emphasis of the debate about market efficiency. Most academics and practitioners agree that markets are efficient by a reasonable operational criterion: there is no systematic way to exploit opportunities for superior gains. But we need to reorient the discussion to how this operational efficiency arises. The crux of the debate boils down to whether we should consider investors to be rational, well informed, and homogeneous—the backbone of standard capital markets theory—or potentially irrational, operating with incomplete information, and relying on varying decision rules. The latter characteristics are part and parcel of a relatively newly articulated phenomenon that researchers at the Santa Fe Institute and elsewhere call complex adaptive systems. Why should corporate managers care about how market efficiency arises? In truth, executives can make many corporate finance decisions independent of the means of market efficiency. But if complex adaptive systems do a better job explaining how markets work, there are critical implications for areas such as risk management and investor communications. I Take, for example, the earnings expectations game.1 In a complex adaptive system, the sum is greater than the parts. So it is not possible to understand the stock market by paying attention to individual analysts. Managers...
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...Human Behavior and the Efficiency of the Financial System by Robert J. Shiller* Abstract Recent literature in empirical finance is surveyed in its relation to underlying behavioral principles, principles which come primarily from psychology, sociology and anthropology. The behavioral principles discussed are: prospect theory, regret and cognitive dissonance, anchoring, mental compartments, overconfidence, over- and underreaction, representativeness heuristic, the disjunction effect, gambling behavior and speculation, perceived irrelevance of history, magical thinking, quasimagical thinking, attention anomalies, the availability heuristic, culture and social contagion, and global culture. Theories of human behavior from psychology, sociology, and anthropology have helped motivate much recent empirical research on the behavior of financial markets. In this paper I will survey both some of the most significant theories (for empirical finance) in these other social sciences and the empirical finance literature itself. Particular attention will be paid to the implications of these theories for the efficient markets hypothesis in finance. This is the hypothesis that financial prices efficiently incorporate all public information and that prices can be regarded as optimal estimates of true investment value at all times. The efficient markets hypothesis in turn is based on more primitive notions that people behave rationally, or accurately maximize expected utility, and are able...
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...Is Skype worth $8.5 billion? An exercise in valuing young, growth companies Posted by Aswath Damodaran Wednesday, May 18, 2011 Last week, Microsoft announced that it would buy Skype for $8.5 billion. The reaction was fast, furious and very predictable. First, there was the search for reasons for the deal and technology mavens listed a few. Second, there was the reaction from investors and analysts, which was generally not very positive. Third, it was noted that Bill Gates, the face of Microsoft for so long, was strongly in favor of the deal (thus providing cover for Steve Ballmer). Ultimately, though, the discussion of the deal was lacking in one key respect: Is Skype worth $8.5 billion to Microsoft? A few of the analysts noted that the price paid was roughly ten times Skype's revenues in 2010, an undoubtedly rich price, but by itself proving nothing. After all, if you had been able to buy into Google at ten times revenues in 2003, you would be rich now. A great deal of attention was paid to whether Skype was the right company for Microsoft to buy and the strategic/synergistic fit of the two companies. It has always been my contention with acquisitions that it is not the strategic fit or synergistic stories that make the difference between a good deal and a bad one, but whether you buy a company at the right price. Put in more direct terms, buying a company that is a poor strategic fit at a low price is vastly preferable to buying a company that fits like a glove at the wrong...
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...comparable (or comp) same-store-sales in Q1 2013. This is the first such decline in 6 quarters of Walmart reporting comp increases. Based on a recent report published by Bloomberg, it appears Wal-Mart is struggling to keep its stores stocked with items that consumers are seeking. As seen in the below chart, Walmart’s tock, WMT, has been lagging behind its main competitors, Costco (COST) and Target (TGT). Given the weakness in global economies, and cautious consumer spending in the U.S. (WMT's biggest market), investors might be wondering whether Walmart stock is a good buy, sell or hold. Does WMT stock still make sense as a good investment or should investors seek better opportunities somewhere else? Let's analyze some of the valuation, fundamental and technical variables to better determine whether Walmart stock is a good buy, sell...
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...The company I pick from S&P 500 is Google Inc., which is a multinational corporation specializing in internet-related service and products. Google has been estimated to be a rapidly growing global technology leader focused on improving the way people connect with information, and its trading stock price is remained really high and still on the rise. The expected sales are given by Capital IQ from year 2014 to year 2018, and their values are listed below in the table. By calculating the average growth rate of sales over next five years, which is 12.8%, and have it compared with the one from the previous three years, which is 25.8%, it can be concluded that the projected sales value given by Capital IQ are reasonable. The average growth rate for the next five years represents a stable rate for a longer term, which should be lower than the short-term one when seeing the future performance of the company in a long-run view (Appendix A). Table1. Expected Cash Flows (in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Sales | 68,176 | 78,377 | 88,614 | 98,769 | 109,330 | The estimated EBITDA to Sales ratio is gained by calculating the average value of EBITDA margins from year 2011 to year 2013, which is 33.3%. Because the sales margins are acquired by Capital IQ from the market data as reliable source, we can use the average of the previous three years’ EBITDA margins as a constant multiple to project the future five years’ EBITDA. By assuming a constant EBITDA/Sales...
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...Memorandum TO: FROM: DATE: September, 27 2013 RE: One-Page Memo on JetBlue Case Study The purpose of this memorandum is to discuss the JetBlue case study, and review my answers to the specified questions. I will elaborate as to which price I believe JetBlue should choose for their initial public offering (IPO), and why JetBlue should choose that price. The first step in determining JetBlue’s IPO price is analyzing specific ratios of publicly traded competitors in JetBlue’s industry. I analyzed the Price-to-Earnings multiples, Cash Flow multiples, Total Assets multiples, and the Revenue multiples of the direct competitors of JetBlue. JetBlue’s direct competitors include; AirTran, Alaska Air, American West, MidWest, and Southwest. JetBlue’s relative stock prices are as follows: |JetBlue's Stock Prices Implied By Different Multiples | |Airline |P/E Multiple |CF Multiple |TA Multiple |Revenue Multiple | |AirTran |$36.41 |$23.71 |$45.20 |$9.24 | |Alaska Air |$47.23 |$27.64 |$30.69 |$8.92 | |American West |$29.04 |$30.82 |$26.24 |$8.39 | |MidWest |-$15.60 |-$11.42 |$39...
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