...What appears to be the key elements of team effectiveness? In particular consider the importance of leadership in teams and reflect critically on your own leadership Effective team working is an essential ingredient for organisational success. Successful teams can help transform an organisation, increase outputs and deliver on organisational objectives. Gorman (1998) argues that the composition of teams, how they work together, how they are motivated and the quality of leadership within teams are just some of the elements that contribute to making a successful organisation. However it has been said that effective teams are not a natural phenomenon (Mcshane &Tavaglione, 2007). In conformance with the last statement a team is said to be a group of two or more people who influence and interact with one another, perceive themselves as a social entity within an organisation and who work towards, and are mutually accountable for, achieving shared goals associated with organisational objective (Mcshane &Tavaglione, 2007). This essay will discuss the key elements of team effectiveness; will then consider the importance of leadership in a team linking theory with practice, by critically analysing...
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...In this weeks assignment I will be discussing and explaining a few things that have to due with evolution. In the first segment I will be talking about phyletic gradualism and punctuated equilibrium. In the second part of the paper I will be discussing fossil records and the connection they have with punctuated equilibrium. Finally I will be talking about rapid evolution and relative stasis. Explain the concepts of phyletic gradualism and punctuated equilibrium. Phyletic gradualism is a model of evolution. The theory of phyletic gradualism states that the rise of new species is slow, uniform and gradual. In this theory there is no real clear line between ancestral and descendant species. Punctuated equilibrium is a hypothesis, which holds that evolutionary changes usually occur in short bursts separated by long periods of stability. Both phyletic gradualism and punctuated equilibrium are different types of evolution. There are two types of evolution macroevolution and microevolution. Microevolution is slight short-term changes within a species. For example in humans there are different eye colors and hair colors. What predictions about the fossil record does punctuated equilibrium make? Evolution and punctuated equilibrium which state that changes in species occur in short bursts separated by periods of time. Many evolutionists believe that new species are descended from other species that have already existed. Evolution also states that many populations...
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...Phyletic gradualism and punctuated equilibria are really two different modes where evolution can take place. Punctuated equilibria, many different kinds of species can differentiate very quickly resulting evolving to a new environment. Once species are established they vary very little over time. An older theory is phyletic gradualism; this has been actually discarded in biology. This is a steady and slow rate of change in population over time. The differences between the two are the rate of evolution. Phyletic gradualism is very slaw and is constant for species. In punctuated equilibrium the rate is very fast and is related to geologically side of things. In my opinion, the differences lay in the definitions of the species and of course the theories behind punctuated equilibrium and phyletic gradualism. Many expert and researchers have annotated that punctuated equilibrium implies a prediction about patterns of genetic differences among many species. It predicts that many evolutionary changes takes place in a short span of time and is tied to speciation events.” Punctuated equilibrium predicts that the fossil record at any one site is unlikely to record the process of speciation. If a site records that the ancestral species lived there, the new species would probably be evolving somewhere else. The small size of the isolated population which is evolving into a new species reduces the odds that any of its members will be fossilized. The new species will only leave...
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...Organizational Behavior Assignment Group Behavior A1: The Punctuated Equilibrium Model Of Group Development The behaviours of the jury in the Movie supports the theory of punctuated equilibrium. The jury's deliberation which found the boy guilty eleven votes to one set the tone for the first half of the movie. During this time, the majority were still quite fixed in their guilty verdict and not very open or willing to consider other points of view. A significant transition took place when the old man supported the architect's (jury 8) questioning of the validity of the testimony. At this point the discussion the man from the slum, also changed his vote. This was right at the midpoint of the movie and soon after this the tone of the conversation of the group began to change. Following the midpoint transition, the second phase was marked by more skilful dialogue and genuine curiosity. The group moved towards a firmer conviction that the boy was not guilty beyond a reasonable doubt. Ultimately, even the most stubborn of the jurors changed their views. A2: The Group Think Phenomenon Group-think, which is agreeing to avoid conflict this theory exists most often when people are in a group, because some people have the tendency to agree with the majority instead of stating their own opinions. The members of the jury all vote guilty right off the bat except Juror No 8. The other jurors never had much reason to vote guilty in the first place. They simply heard other angry...
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...Nesbitt-Johnston Writing Center Hamilton College Clinton, NY 13323 INTRODUCTIONS AND THESIS STATEMENTS Introductions The introduction is a key paragraph for both readers and writers. First impressions matter. The reader will be more inclined to read a paper and consider a position if the initial paragraph is clear, organized, and engaging. For the writer, a carefully crafted first paragraph acts as a springboard, establishing the order and direction for the entire paper. The form and content of an introduction depend upon many factors, including the specifics of the assignment, the intended audience, the style of the discipline, and the expectations of your professor. In general, your introduction should • capture the reader’s attention • reflect the question raised by the assignment • provide essential context for your topic • define key terms Most importantly, your introduction should • convey the pattern of organization you will follow in the paper • build to the thesis sentence: a clear, concise statement of the specific position you will explore in your paper Outline first Outline your argument as fully as possible before starting the first draft. Outlining first helps you to see the shape of your argument, making writing the draft much easier. Start focused Avoid broad openers; start your argument right away. Do not open with empty filler such as “Since the beginning of time” or “For thousands of years, men, both good and evil.” Open with a sentence...
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...The development and adoption of the PATRIOT Act will explore the explanatory power of the Punctuated Equilibrium theory. This will be done using a longitudinal study of the national security surveillance policies leading up to the Patriot Act. The goal is to determine whether these policy-outcomes followed the pattern described by the Punctuated Equilibrium. The development and adoption of the PATRIOT Act is better understood in comparison to a standard policy making process. For this reason, a comparison is made to the policy making process that lead to the adaptation of the Foreign Intelligence Service Act of 1978. The examination of surveillance policies under the PATRIOT Act and FISA (Foreign Intelligence Service Act of 1978) provides examples of how exogenous or endogenous shocks can trigger drastic policy change. The negative...
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...Creating High-Performance Project And Process Teams CONTENTS 1. Executive Summary 2 2. Purpose 3 3. Discussions 3 4. Part A 3 4.1. Introduction 3 4.2. Group Theories 4 4.3. Team Theories 9 4.4. Conclusion 11 5. Part B 12 5.1. Introduction 12 5.2. Questionnaire 12 5.3. Questionnaire Scores 14 5.4. Tuckman Model: Johannesburg Central Team Score 15 6. Part C 15 6.1. Introduction 15 6.2. Team demographics 15 6.3. Team Effectiveness 16 7. Bibliography 21 FIGURES Figure 1: Approximation of the Punctuated Equilibrium Model. Figure 2: Asch Comparison Cards. Figure 3: Tuckman Model: Johannesburg Central Team Score TABLES Table 1: Relationship between Group Cohesiveness and Agreement with Organizational Goals. Table 2: Mature Work Group or Team Questionnaire. Table 3: Individual Team Member and Team Scores. 1. Executive Summary Group work and team work have especially become indispensible to the achievement of success in the world. Group work and team work have been used since the beginning of humanity. So what has changed? Competitiveness has forced a substantially, reduced cycle time requirement to turnaround capabilities and products in a much shorter period of time. An individual’s effort to achieve the required cycle time would not meet requirements on a number of levels: the requirement for various knowledge and skills, enhanced decision making by leveraging the strengths of diversity and assurance that the required quality would be met. However...
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...Questions 1 As seen from the excel sheet we conclude that the NVP for Project 1 results in negative amounts, as a result we do not choose project 1. As for project 2 amongst the two options we will choose Project two with DR at 10% as it yields a higher NVP value. Question 2 a) What is the equilibrium price and quantity of fertilizer in an unregulated, competitive market? 6 tons per day b) What is the efficient quantity of fertilizer? 4 tons per day c) Suppose government imposes a tax equal to the marginal external cost. What is the equilibrium price paid by consumers and the equilibrium quantity after implementation of the tax? Consumers will pay $1,200 per ton, and the efficient level of output at 4 tons per day will be achieved. d) At the output level in part (6), how much is the tax per one ton? $1200 - $800 = $400 e) How much tax revenue does government collect? $400 per ton x 4 tons per day = $1,600 per day f) What is the deadweight loss borne by society if the externality is left uncorrected? (6-4)x(1,600-1,000)/2 = $600 Question 3 a) According to Coase theorem it doesn’t matter who builds the fence as long as it is less than the cost of the crop damage. However, to answer the question; the rancher builds the fence, because the cost of the fence ($100) is less than the cost of compensating the farmer for crop damage. Together, the rancher and the farmer are $200 better off ($300 crop damage less $100...
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...Market Equilibration Process Jeremiah D. Wood ECO/561 April 19, 2014 Professor John Lindvall Market Equilibration Process Economic equilibrium is defined as a condition or state in which the economic forces are at a balance. In this particular discussion, one will discuss equilibration, the process of moving between two different points that is affected by a change in demand or supply. One will cover how a specific world event, Hurricane Katrina, caused home prices in Baton Rouge, Louisiana to fluctuate between two equilibrium states. Also to be covered is how the process of said movement occurred using the behaviors of both supply firms and consumers. In the late summer of 2005, Hurricane Katrina bared down on the City of New Orleans and the surrounding areas. This storm caused a surge that caused the storm levees to break that in turn, flooded the City of New Orleans and took most of the city’s housing with it. Because of the destruction, about two hundred and fifty thousand people were relocated to nearby Baton Rouge, making it the largest city in Louisiana. Let us start the discussion by stating that the average price of a single-family home in Baton Rouge before Katrina was one hundred thirty thousand dollars, shown by point A on the graph (O'Sullivan & Sheffrin, 2002). With the explosion of the population, the average price jumped to one hundred and fifty six thousand dollars within six months, point B, and the market shrunk from three thousand six...
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...Risk in Housing Markets: An Equilibrium Approach⇤ Aurel Hizmo† NYU Stern January 30, 2012 Abstract Homeowners are overexposed to city-specific house price risk and income risks, which may be very di cult to insure against using standard financial instruments. This paper develops a micro-founded equilibrium model that transparently shows how this local uninsurable risk a↵ects individual location decisions and portfolio choices, and ultimately how it a↵ects prices in equilibrium. I estimate a version of this model using house price and wage data and provide estimates for risk premia for di↵erent cities, which imply that homes are on average about $20000 cheaper than they would be if owners were risk-neutral. This estimate is over $100000 for volatile coastal cities. Next, I simulate the model to study the e↵ects of financial innovation on equilibrium outcomes. Creating assets that hedge city-specific risks increases house prices by about 20% and productivity by about 10%. The average willingness to pay for completing the market per homeowner is between $10000 and $20000. Welfare gains come both from better risk-sharing and from more e cient sorting of households across cities. ⇤ I am deeply grateful to Patrick Bayer, Andrew Patton, and Peter Arcidiacono for their encouragement and support. I also thank Robert McMillan, Tim Bollerslev, Vish Viswanathan, Chris Timmins, Jimmy Roberts and the seminar participants at Duke Finance, the ERID Conference at Duke, Fed Board, NYU Stern...
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...contended, however, that the management scientists were proposing changes with insufficient regard for relevance, timeliness, acceptance, or implementation (Zand, 1975). Identifying the Characteristics of Effective Organizational Change Psychologist Kurt Lewin theory on organizational change conceptualized the present condition or level of activity of a system as a dynamic social equilibrium, that is a state of balance maintained by active driving and resisting social forces. Change then consisted of altering the driving and resisting forces thereby facilitating the movement of the system to a new level of equilibrium (Zand, 1975). Lewin conceptualized change as a process with three phases: (1) unfreezing—behavior that increases the receptivity of the client system to a possible change in the distribution and balance of social forces; (2) moving—altering the magnitude, direction, or number of driving and resisting forces, consequently shifting the equilibrium to a new level; and (3) refreezing—reinforcing the new distribution of forces, thereby maintaining and stabilizing the new social equilibrium. Lewin also suggested that although common sense might lean toward increasing driving forces to induce change, in many instances this might arouse an equal and opposite increase in resisting forces, the net effect being no change and greater tension than before (Spector, 2010). The Situation at Asda...
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...Tournaments and Piece Rates Revisited: A Theoretical and Experimental Study of Premium Incentives Werner Guth Rene Levnsky Kerstin Pully Ori Weiselz June 22, 2010 Abstract Tournaments represent an increasingly important component of organizational compensation systems. While prior research focused on xed-prize tournaments, i.e., on tournaments where the prize or prize sum to be awarded is set in advance, we introduce a new type of tournament into the literature: premium incentives. While premium incentives, just like xed-prize tournaments, are based on relative performance, the prize to be awarded is not set in advance but is a function of the rm's success: the prize is high if the rm is successful and low if it is not successful. Relying on a simple model of cost minimization, we are able to show that premium incentives outperform xed-prize tournaments as well as piece rates. Our theoretical result is qualitatively conrmed by a controlled laboratory experiment and has important practical implications for the design of organizational incentive systems. JEL Classication: C72, C91, J33 Keywords: Tournaments, Incentives, Economic experiments Max Planck Institute for Economics, Kahlaische Strasse 10, 07745 Jena, Germany. yEberhard Karls Universitat Tubingen, Faculty of Economics and Business Administration, Nauklerstrasse 47, 72074 Tubingen, Germany. zThe Hebrew University, Center for the Study of Rationality, Giv'at Ram, Jerusalem 91904, Israel...
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...list of Frequently Used Symbols and Notation A text such as Intermediate Financial Theory is, by nature, relatively notation intensive. We have adopted a strategy to minimize the notational burden within each individual chapter at the cost of being, at times, inconsistent in our use of symbols across chapters. We list here a set of symbols regularly used with their specific meaning. At times, however, we have found it more practical to use some of the listed symbols to represent a different concept. In other instances, clarity required making the symbolic representation more precise (e.g., by being more specific as to the time dimension of an interest rate). Roman Alphabet a Amount invested in the risky asset; in Chapter 14, fraction of wealth invested in the risky asset or portfolio AT Transpose of the matrix (or vector)A c Consumption; in Chapter 14 only, consumption is represented by C, while c represents ln C ck Consumption of agent k in state of nature θ θ CE Certainty equivalent CA Price of an American call option CE Price of a European call option d Dividend rate or amount ∆ Number of shares in the replicating portfolio (Chapter xx E The expectations operator ek Endowment of agent k in state of nature θ θ f Futures position (Chapter 16); pf Price of a futures contract (Chapter 16) F, G Cumulative distribution functions associated with densities: f, g Probability density functions K The strike or exercise price of an option K(˜) Kurtosis of the random variable x x ˜ L A lottery...
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...The theory of market equilibrium states that market forces tend toward a balance, or equilibrium, of price and quantity, unless an outside source intervenes to disrupt the balance (University of Phoenix, 2010). The product I will be discussing is the Apple iPhone and how it reaches its market equilibrium. Apple goes through three phases when releasing inventory to stores (through personal experience.) The first phase is to release a lot of inventory on the day of release. The second phase is slowly release inventory to keep demand up. The third phase is release enough inventory so that all stores have supplies readily available. By being strategic with the quantity of iPhones released Apple set their own market equilibrium. Demand is a schedule that shows the various amounts of a product that consumers are willing and able to buy at each specific price in a series of possible prices during a specified time period (McConnell, Brue, & Flynn, 2009). This demand on a product is greatly affected by supply, which is a schedule that shows amounts of a product a producer is willing and able to produce and sell at each specific price in a series of possible prices during a specified time period (McConnell, Brue, & Flynn, 2009). When the iPhone first releases every Apple and AT&T store receive very large amounts of inventory. Most of the customers waiting at the stores will get an iPhone, however, those that did not wait before stores hourse usually will not get a phone. The reason...
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...Market Equilibrating Process Student Name ECO/561 Date Peter Oburu Market Equilibrating Process Market equilibrium is defined as a state where the quantity supplied matches the quantity demanded (McConnell, Brue, & Flynn, 2009). In case where there is lack of equilibrium a business can be have a surplus or the buyers could face a shortage. The process in which the market adjust to the demands of market buyers and supply of market sellers is know n as the market equilibrating process. If the market price of a good or service is set above market equilibrium price, the demand will be less than the supply and the net effect will be a surplus. On the other hand, the market price of a good or service is set below the market equilibrium price, the demand will be greater than the quantity supplied and the net effect will be a shortage. For a business either of these scenarios can be detrimental, therefore it is very important that a business owner set their price at the market equilibrium, which is the ideal price for both business (suppliers) and the consumers. This paper provides an example of how the market equilibrating process works for a martini lounge. The paper proceeds as follows; first we describe ... then we highlight ... and finally we conclude that ... As the owner of a restaurant, I have to pay very close attention to pricing in an effort to ensure a steady flow of customers and to build profitability. The type of restaurant I own can be classified and...
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