...Personal Financial Planning: Chapter One Concept Checks Concept Check 1-1 (pg 9): What steps should we take in developing our financial plan?1) Determining your current financial situation 2) Developing your financial goals 3) Identifying alternative courses of action 4) Evaluating alternatives 5) Creating and implementing a financial action plan 6) Re-evaluating and revising the plan What are some risks associated with financial decisions? Economic and Product Risk: Interest rate risk- changing interest rates affect your cost when you borrow and your benefits when you invest Inflation risk- rising prices cause lost buying power Liquidity risk- Some investments may be more difficult to convert to cash or to sell without significant loss in value Product risk- products may be flawed or services may not meet your expectations. Retailers may not honor their obligations Personal Risk: Risk of Death- Premature death may cause financial hardship to family members left behind Risk of income loss- Your income could stop as a result of job loss or because you fall ill or are hurt in an accident Health Risk- Poor health may increase your medical costs. At the same time, it may reduce your working capacity or life expectancy Asset and Liability Risk- Your assets may be stolen or damaged. Others may sue you for negligence or for damages cause by your actions What are some common sources of financial planning information? Printed Materials: newsletters...
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...Personal Stress Management Mujtaba, B., & McCartney, T. O. (2010). Managing workplace stress and conflict amid change. Davie, Fl.: ILEAD Academy, LLC. What is stress? According to the American Institute of Stress “stress is difficult to define because it is so different for each of us”. Stress contributes to anxiety, depression, and cardiovascular disease. Can we control our stress levels in order to not let it impact our physical health? The answer in simple terms would be yes, but we each would have to understand what triggers stress within us individually and learn the steps to manage out stressors. Mujtaba and McCartney speak on stress, personality, and behavior in their book. Their article has examples of different personalities as well as ones awareness and self esteem which also affect individual stressors. There are two personality types that can help with some stress management techniques. Type A personality and type B personalities are different in character and seem to be stressed by different factors. Type A personality “often include characteristics such as being overly aggressive, impatient, inconsiderate, and arrogant”.(Mujtaba p.102) These are qualities that not many people want to be associated with, but they are frequently labeled as such because of their drive to work and be successful by their own hard work and dedication. Type A can at times be perceived to work harder than those with Type B personalities because Type B individuals are “viewed as less...
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...Department of Management Personal Effectiveness Certificate of Higher Education in Management/ Funeral Management Draft Module Outline (2015/16) Code: FFMN009H4 Term: Autumn and Spring Day – Autumn Term: Tuesday or Saturday (Bloomsbury) Day – Spring Term: Saturday (Bloomsbury) Time: Weekday Evenings 18:00 to 21:00; Saturdays 10:00 Time: Room(s): TBC Code: {{module code}} Term: {{term}} to 17:00 {{day/s}} 6.00pm to 9.00pm Room: {{room}} Lecturers: Ian Harrison Peter Hirsch Keith Mattacks V1:06/07/2015 Table of Contents Personal Effectiveness – Module Overview............................................................................................ 2 Aims and Objectives................................................................................................................................ 2 Learning Outcomes ................................................................................................................................. 2 Key Readings ........................................................................................................................................... 2 Required Reading................................................................................................................................2 Recommended Reading ...................................................................................................................... 2 Journal Articles....
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...values and objectives 3 1.2 Evaluation of leadership and management skills 4 1.3 Assessment of personal leadership and management skills 5 1.4 Personal leadership skills 6 TASK2 7 2.1Assesment of opportunities in relations to developing leadership and management skills 7 2.2 Personal development plan 8 2.3 Personal Development 10 Task3 11 3.1Reviewing personal development plan and main objectives 11 3.2 Evaluation of Leadership, management skills and personal development 13 3.3 Other areas of development 15 Conclusion: 16 REFERENCES 17 Introduction: A Leadership defines the objectives, culture and the values of the organization. The leadership style is what drives the operating power of the organization. The ideal leader would have key knowledge about the organization and would have the correct set of skills to make decisions for the future of the organization. Therefore in this paper we are going to discuss leadership in context and its effects on organizational objectives, values and culture. A section in this paper is also dedicated to personal development. Task 1 1.1 Impact of organizational culture, values and objectives Denison et al(2000) suggests that he culture of the organization is involved within the operational perspective of the organization and gives significant evidence of performance enhancement within the organization. Due to the ubiquity of an organization, management is required to pin point fundamental aspects of the company...
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...Personal Leadership Personal Leadership Personal Leadership Style Dai Meeks 1 Personal Leadership 2 Personal Leadership Style Understanding yourself is essential to be a good manager and leader, a primary characteristic of effective leaders is they know who they are and what they stand for. Reflection (A1a) The seven habits profile reveals that I overall have several qualities of a highly effective person. My emotional and life balance are great indicator I have been able to manage life without burning myself out. I am married with four children. I work a full time job and now going back to school. I have been fortunate enough to have an awesome support system that allows me to balance family and work. I prefer to be proactive and plan for issues opposed to reacting to them. Prior to starting any project I think about the end result and the effects on the future. When prioritizing I tend to complete the most important tasks. Seeing others happy is more important to me so I often compromise to insure everyone gets a little of something they want. When there is a breakdown in communication, I try to understand other people’s point of view. I am creative and seek to find solutions that are outside of the box and value other people’s opinions. Making sure I take time for myself and family is extremely important to me. Based on the results of the seven habits profile my leadership style is very authentic, team oriented, and driven to help others succeed. Leadership Practices...
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...Chapter 2: Personal Skills Part 1: Leadership 2.1.1) Leadership development * Influencing people so that they will strive willingly and enthusiastically toward the achievement of organisational skills * Motivating, directing, supervising, guiding and evaluating of others for the purpose of accomplishing a task 2.1.2) Characteristics of Good Leaders * Determination * Energy * Integrity * Self confidence * Fairness * Wisdom * Knowledge * Etc 2.1.3) Leadership style * Authoritarian/Directive – decides what to do and tells what + how to do * Democratic – involves group in deciding what and how to do something * Participative/Supportive – offers advice and lets individuals in group decide how to carry out their roles * Laissez faire – leaves group to decide what to do and how to do it 2.1.4) Individual, group and task needs * Individual needs – motivate others * Know how to satisfy expectations, needs and goals of individuals * Show individual and group contribution * Making sure they know their responsibilities * Provide feedback on performance * Group needs – building, maintaining and coordinating group so that it can achieve the task * Make everyone...
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...dan operasi perusahaan! Policy-based management is an administrative approach that is used to simplify the management by establishing policies to deal with situations that are likely to occur. Policies are operating rules that can be referred to as a way to maintain order, security, consistency, or otherwise furth a goal or mission. For example, a town council might have a policy against hiring the relatives of council members for civic positions. Each time that situation arises, council members can refer to the policy, rather than having to make decisions on a case-by-case basis. In the automotive industry, policy-based management is used as an administrative tool throughout an enterprise or network, or on automated-machines that have multiple users. Policy-based management includes policy-based network management, the use of delineated policies to control access to and priorities for the use of resources. Policy-based management is often used in systems management. Policy-based management of a multi-user workstation used in the computing section of the automotive industry, typically includes setting individual policies for such things as access to files or applications, various levels of access (such as "read-only" permission, or permission to update or delete files), the appearance and makeup of individual users' desktops and so on. There are a number of software packages available to automate some elements of policy-based management. In general, the way these work is as...
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...PERSONAL ASSESSMENT OF MANAGEMENT SKILLS (PAMS) Self-Assessment Exercise and Assignment 1. In Google or your browser enter: Personal Assessment of Management Skills (PAMS) and open. 2. Personal Assessment of Management Skills (PAMS) will appear in a black box. You will see “Developing Management Skills” 5/e, Surveys, David A Whetten, Kim S Cameron, Introduction. 3. Take the 77 item survey as instructed. Pay attention to your answers and select the alternative that describes you as truthfully as possible. Press “Score It.” You will get a total score 4. DO NOT USE THE COMPARISON NUMBERS THAT APPEAR. Those numbers have been updated in later editions of the book. Use the comparison numbers below which are from the 11th edition. • Maximum Score: 468 5. Now compare the ratings you gave yourself with a norm group of 1500 business school students: • 380 or above You are in the top quartile • 353-379 You are in the second quartile • 327-352 You are in the third quartile • 326 or below You are in the bottom quartile 6. Now look at the nine management skills below and identify the three which are the lowest for you compared to the points available for that item (6 points X items under that skill area). These are the three management skills that you need to work on the most. Skill Area Items • Developing Self Awareness 1 - 5 • Managing Stress 6 - 11 • Solving Problems Creatively 12 - 23 • Communicating Supportively 24 - 32 ...
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...Strategic thinking is a process that determines the way we think, assess, view, and create the future for ourselves and others. In a business context, strategic thinking is used to address issues, reach decisions, and inspire innovation. Strategic thinking can also be used in our personal lives to help guide us in the direction we want to go, and enhances our abilities to achieve our life goals. I had never given much thought about strategy and strategic thinking in my personal and work life, but I now see the many benefits of practicing strategic thinking in my daily life. Effective execution of a new strategy is widely believed to be more important than even the strategy itself, and therefore, it is extremely important for management to skillfully lead a strategy’s implementation. There are many components involved in successfully enacting a strategy, most crucially active communication. Many complications arise in the process of implementing strategies due to the lack of complete understanding from everybody involved. Implementations often fail when there are unclear roles and responsibilities, and as a result of conflicts and misunderstandings. Successful managers are great communicators and ensure that the vision of the company and the strategic goals in the project are clear and well-defined in order to increase understanding and create alignment within the organization. They must also regularly share ideas, information, outcomes, and reasons so that everybody...
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...TUGAS PERSONAL 1 (Minggu 1/ Sesi 1) IAN GUMILANG (1801491195) PART I 1. B. Time, cost, and quality and/or scope 2. 3. C. Meeting at least 75 percent of specification requirements 4. A. The project manager 5. A. Flexibility in the project’s end date PART II 1. Attributes that a project manager should have are : a. Show their worth b. Understand business strategy c. Overcome hurdles d. Improve team performance Yes an individual can be trained to become project manager, a. Make sure that they are suitably qualified and have the right character in the first place, if not get them trained up or get rid of them (It may sound harsh, but not everyone is capable or wants to be a PM, however some may just be attracted by the salary). If you don't get rid of the inappropriate people, they will soon drag your other PMs down - asking them questions, causing havoc that others need to clean up or loosing you business. b. On the job training is the best, but don't throw your best potential in the deep end, make sure you start them off with smaller projects with mentors and coaches. c. Make sure they have a personal development plan, you have some money to continually train them or provide them training opportunities - e.g a PM Library of good texts is a good and cheap starting point. d. Make sure that they share their good and bad experiences with each other - lunch and learns is another good example - you provide the free lunch, they learn...
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...The strong desire of being an enterprise architect brings me to the front door of Weatherhead School of Management. The first step towards my dream job is to become a junior business analyst. However, the four-year undergraduate program with so many limits on course enrollment is not enough for me to be well-prepared to take the step. Compared to the general education courses of the undergraduate program, the curriculum set of the Master of Science in Management-Business Analytics program in Weatherhead is more professional and practical. The business core, analytics core, and applied business analytics overlap with each other. Thus, students are able to establish analytic skills and business decision-making ability at the same time. Two unique...
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...In an ever globalising and fast paced world, it is important to frequently adapt and be able to contribute universal ideas in order to strive. That is what I desire to achieve, to become a specialist at communicating with people, managing them and fulfilling my ideas professionally. These are the reasons why I wish to study Management at your University. Being a team leader has always been one of my main strengths. I am good at communicating with team members and bringing out the best in them. I have participated in the Lithuania’s Junior Achievement program, and had the opportunity to test my leadership skills. The program consisted of simulations of various business problems that require analytical thinking and to be able to successfully work in a team. I was the team leader and our team performed very well, we were ranked among the top 10 of the best teams. Another strength is that I never hesitate to speak in English when I have the opportunity. This is mainly because it has always been interesting for me as a language and I had the chance to participate in several English language contests in the Baltic States. I have not won any medals, but the experience and knowledge gained has undoubtedly benefited me in both school and daily life activities. Active participation in school has always been my main objective, because I sincerely believe that having a good background in school is of key importance in order to successfully gain knowledge in University. Order is what...
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...loyees. 2. Fixed ratio – Reinforcement is given after a certain number of behavior occurrence. Sales target bonus is a good example. Once a certain sales target is reached, a specific bonus is given. 3. Variable interval – Reinforcement is given at special period without specific timings. Employee citations and promotions are good examples. 4. Variable ratio – Reinforcement is given at varying instances of behavior. Special awards and incentives for specific performances are samples. Vroom’s Expectancy Theory Victor Vroom's motivation theory stresses that employees are motivated to choose a behavior based on the desirability of the reward. Understanding Vroom’s Expectancy Theory entails understanding that each employee has his own personal goals. Likewise, there exists 3 basic elements that managers need to consider when...
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...During my more than 20 years with the United States Army, law enforcement and the transportation security aviation sector, I’ve been faced with numerous instances of where my crisis management/emergency preparedness knowledge, skills and abilities have been tested. I have responded to numerous significant transportation security incidents and other critical incidents as defined by the National Incident Management Systems (NIMS) or as directed by the Federal Security Director (FSD) or appropriate authority. These incidents were real-world, as well as notional exercises. Based on my crisis management/emergency preparedness expertise, I was appointed by the Louisiana Federal Security Director (FSD) as the Emergency Preparedness Liaison during...
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...Critical Review and Personal Analysis of Scientific Management Introduction Comparing to the economic environment in past decades, in today’s economy, more and more large companies and firms tend to find suitable management methods to regulate and operate their labour forces in consideration of maximizing efficiency and profits. Certainly, without an applicable management method, firms and corporations will lack of dynamic and motive power to operate decently. Taylorism, also known as scientific management, is one of the most well-known and widely applied management method introduced by Frederick Winslow Taylor in the late 18th century, and this theory was peaked in the early 19th century. Taylor argued that the fundamental of seeking wealth for both employers and employees is to have working efficiency and productivity maximized; to reach this working stage, a company is required to manage and operate scientifically rather than empirically. (Wikipedia, from http://en.wikipedia.org/wiki/Scientific_management) In fact, Taylor’s scientific management is criticized by socialists and workers as it only focus on productivity and efficiency and treat workers as ‘machines and animals’, and it is also argued to be the tool of exploitation for capitalists. Indeed, in my opinion, despite the efficiency and productivity advantages that scientific management can generate, its inconsideration of employees personal affects and emotions will not only impair the future of a company, but also...
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