Investment Ethics Essay

The contemporary world of today functions on investment. There are many types of investment such as investment in property, shares, mutual funds, sugar, gold, oil, rice etcetera (Theodore , 1992). The list goes on and on with some forms of investment so inanely mundane like investment in over priced paintings by unknown artists that one is forced to shake their heads at the inanes of how far the concept of investment has come since its inception. Investment is described in dictionary as: â€Å"In finance, investment is the purchase of a financial product or other item of value with an expectation of favorable future returns. In general terms, investment means the use money in the hope of making more money. In business it is the purchase by a producer of a physical good, such as durable equipment or inventory, in the hope of improving future business. † Gambling on the other hand is almost as old as investment itself and its exact origins are unknown. Scientists believe that the ancient Romans would bet on the outcomes of chariot races and gladiator fights. It could be defined as: â€Å"†¦the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period (Linda , 2006). † Now, a raging debate in the world today is whether investment is or is not just another form of gambling. I am an opponent of this statement but will first give an argument in favor of the statement. The purpose of me including the definitions above was to prove that even the meaning of the words investment and gambling themselves are similar. Any kind of investment be it financial or physical, is done to gain money or to increase the investors’ wealth. Gambling also serves the same purpose which is to gain financially from an act (though some people gamble for the thrill of winning etc). Also, in money investment, finance managers everyday gamble outrageous amounts of other peoples’ money on chance. Such transactions entail high risks and if this is not a form of gambling then what is? In fact, in some religions like Islam, most forms of investment except investment in property and currency, is forbidden because they proclaim it to be gambling which is also forbidden in the religion. In that way, if for people of some faiths it is forbidden completely, then it is wrong from an ethical perspective because you are risking not only your own earnings but the money of those who have entrusted you with their wealth (like shareholders to security companies). In addition, it is wrong from a moral point of view. This is because gambling gives rise to selfishness in the human heart. Greed is a natural emotion for almost all people and investing money in the form of higher returns gives birth to insatiability for more money which is why we often see people at casinos squander all their gambling winnings in hope of winning more and more. It is selfish because gamblers profit on the wealth of others and do not care about the next person or what big a loss he suffers. Another way that gambling can be wrong is that it may make people idle and complacent. They may be happy to earn their money through gambling only. They may not work hard because of this for a living because of this and continue to live off gambling without caring that it is not a permanent or very stable source of income (Elizabeth , 2007). But even though their definitions may be partly similar, the two words are not common in their truest sense. I agree that investment puts peoples’ money at risk for chance of a higher return but it is done by professionals like investment managers and financial accountants instead of novices or any Tom, Dick and Harry trying out their luck like in gambling. It is a whole structured business activity with companies spending months deciding how to spend their customer’s capital and hedging (or insulating) the investment against any negative exchange rate or interest movement. Gambling on the other hand requires no such months of planning and development and can be done on the spot. Secondly, gambling involves one party losing and the other winning. The winning of one depends on the other’s loss. In investment, there is no such tradeoff and all investors can benefit at the same time. Another very valid point here is that gamblers often don’t have the same intensive information that investors have. In the long term, gamblers are always paid less in winnings then they have invested. That is not the case with investment. So the debate between whether gambling and investment continues unresolved with both sides vehemently arguing their point. Works Cited Theodore, V. Ethics in Investment Profession. Research Foundation of the Institute of Chart. (May 1992). Linda, K. T. Managing Business Ethics. Wiley. (Aug 2006). Elizabeth, A. C. The Psychology of Ethics In finance and Investment. Research Foundation of CFA Institute. (June 2007).

Describe Your Own Leadership Style Essay

Jim Collins and a group of 22 research associates conducted a five-year research project searching an answer on the question ‘how a company from merely good can be transformed to great one’ and identified that behind this transformation lies a level 5 leader. Level 5 leadership refers to the highest level in a hierarchy of manager’s capabilities. A level 5 leader transforms the organisation into a great institution through a paradoxical combination of personal humility plus professional will. Beneath Level 5 leaders, lie four other layers, each one appropriate in its own right but none with the power of Level 5. Level 1 leader is a high capable individual who plays an important role in the success of his organisation through his talent, knowledge, skills and good work habits. A level 2 leader is a contributing team member who is very good with his team members and ensures that his team meets its assigned objectives and fulfils the core purpose. A level 3 leader is a competent manager who is skilled at organising people and resources towards the effective and efficient pursuit of predetermined objectives. A level 4 leader is an effective leader. He sets high-level performance standards. He is remarkable at motivating his people and leading them towards realising his vision of the organisation. (Appendix 1, p. 11 summarises all levels of Collins’ Leadership Hierarchy) (Collins, J. (2005). Level 5 Leadership: The Triumph of Humility and Fierce Resolve, Harvard Business Review, Vol. 83. No. 7, p. 136-146) The purpose of this assignment is to conduct an evaluation of my own style of leadership within the organisation in which I work by using the above hierarchy as a frame of reference. In order to produce a thorough assessment on both my style and the usefulness of Collin’s model, a range of other theories and concepts must be taken into consideration. However, before proceeding to the analysis and evaluation, it would be helpful first to know the position I hold as well as its responsibilities within the organisation. A Brand Manager, member of the Marketing Department, is responsible for the planning, development and implementation of the Company’s marketing activities, among others: Launching of new products, market research studies, promotional activities/materials, to organize and execute the raining programs for the Sales Force. In order to become an efficient and effective Brand manager, the company is requiring knowledge (good academic background), experience and managerial skills including: Strategic and analytic capabilities, entrepreneurial spirit, team player, and flexibility and strong skills in communication and leadership. The Idea of Leadership It is most likely to find a topic more important to business success today than leadership. Leadership is defined as the ability to influence people toward the achievement of goals. Leadership occurs among people, involves the use of influence and it is used to attain goals. Leaders are expected to persuade or inspire people, produce cooperative efforts and pursue goals. Leadership is different from management, though the two are easily confused. One may be a leader without being a manager and many managers cannot ‘lead a squad of seven- years –olds to the ice cream counter’ according to Gardner (1989). Gardner believes that there are several dimensions for distinguishing leadership from management. Leaders think long-term, look outside as well as inside and influence others regardless the position that they possess. In order to understand the idea of Leadership and which are the characteristics a leader usually has, studies and research have been conducted and several approaches to leadership styles as well as theories are arose. Some of them are going to be related to Collin’s Level 5 leadership hierarchy as well as to my own style of leadership. (Daft R. L. , Management, ch. 16, Leadership in Organisations , p. 514-515) Level 1 Leader & The Leadership Traits Approach Leadership trait approach is the oldest approach to the study of leadership. From this approach occurs that there are certain qualities in some people that define them as leaders or potential leaders. Traits therefore are the distinguishing personal characteristics such as intelligence, values and appearance. Leaders extend their power and use their abilities to influence events. Effective leaders are usually more intelligent, more dependable, responsible and more active. They usually ask for more information and give out more information. However, the ppropriateness of a trait or a set of traits depends on the leadership situation. The same traits do not apply to every organisation or situation. (Appendix 2, p. 11 summarises the physical, social and personal leadership characteristics) On the contrary, Collin’s Hierarchy is consisted of several characteristics/ capabilities that most can be found also in the leadership trait approach such as knowledge, achievement to drive and working effectively with others in a group setting. However, two characteristics that are of great importance are not included in it. There are the most important ones and are a necessary requirement for transforming an organisation from good to great, humility and professional will. (Diploma in Management, Module book 1, section 6, Teams in Management, p. 6. 16) However, in order to understand in what extent these two concepts can be correlated, we can use ourselves as an example. For instance, my position requires being a highly capable individual (Collin’s Hierarchy Level 1). How can I accomplish this requirement? By demonstrating many of the personal traits such as intelligence, knowledge, judgement and cognitive ability. For instance, the products that I handle have intense competition. Good knowledge of the market as well as intelligent moves made them to differentiate from competition. The creation of a guideline for treatment at home as well as the delivery of the products at home gave a benefit to them. As a result, Doctors preferred to prescribe these products for long term use and hade great impact on the company’s name and reliability. When we speak of leadership, either we refer to the qualities/ competencies of an individual or we can refer to a function of organisation. The ‘trait’ theory of leadership- the traditional or popular management view of leadership- focuses on the concept that leadership is a quality or set of qualities particular to an individual. On the contrary, the group dynamics theory sees leadership as a function of organisation. Level 2 Leader & Task versus people perspective styles Task versus people perspective styles of leadership do not take into consideration the organisation as a whole. They focus on teams. Every group of people has a task to accomplish. However, since groups are composed of people, several needs arise from them. According to the group dynamics theory of leadership, the person who adequately fulfils the needs that the group perceive to be the most important could be considered as an effective leader. A working team need to fulfil two functions. First, its formal tasks must be fulfilled. In order this to be accomplished; a set of competencies must be evolved. Technical knowledge, innovation and sense of achievement are related with the instrumental need to perform the tasks. Second, needs for affiliation, interaction and mutual support are usually observed within a team. Such needs are called expressive needs. The person who becomes leader must facilitate the satisfaction of some of the teams’ needs. This leader emerges to the group because he is the best able to help the group survive and succeed. ) (Master in Business Administration, Module book 3, section 1 The Theory of Leadership, p. 1. 7-1-11) According to Collin’s leadership hierarchy, the leader that is described in the group dynamics approach could be characterised as a level 2 leader. A contributing team member who is very good with his team members and ensures that his team meets its assigned objectives and fulfils the core purpose. Both group dynamics approach and Collins hierarchy are useful in helping us to see how leaders may relate to team members and to situations. (Collins, J. , (2005). Level 5 Leadership: The Triumph of Humility and Fierce Resolve, Harvard Business Review, Vol. 83. No. 7, p. 136-146) As a Brand Manager, one of my responsibilities to support our sales team by providing them with moderate amounts of detail and focus on why it is important for the team members to complete our objectives. However, I believe that co-owning the objective/action plan with team members and asking team members ideas as well as offering my own ideas is more efficient and can lead us easier to our goals. Besides, It is better to have, for instance, five people to think rather than one. Therefore, I strongly believe that teamwork can lead to better results. Level 3 Leader & The Contingency Theory According to contingency models, leadership depends as much on the situation of the group as on the leader himself or herself. Thus, we have a choice; either the leader can fit to the situation or change effectively the situation to fit the leader. As we can understand, leadership is different for first-level supervisors than for chief executives and the kind of leadership needed for skilled and highly motivated followers may not work for followers who are alienated and untrained. According to Fiedler, contingency model divides the leadership situation into three variables. In order to determine the most effective leadership style, we must consider the inter-relationship of the three contingencies: leader – member relations, task- structure and position power. 1. Leader – member relations, where mutual trust, respect and open communication exist and can be consider as advantageous. This means that tasks are clear and structured and members are aware of the power the leader holds. On the other hand, where there is little or no trust, respect of communication, then the relationship can be characterised as disadvantageous (control over the situation is needed and a focus on a task will not detract from the leaders/ team relationship because this is not essential to start with. 2.  Task- structure, when work is highly structured and easy to know when somebody has not complied with an instruction and it is easy to impose sanctions. However, when work is unstructured, leaders cannot enforce compliance with external controls and therefore, the leader has much less power than when work is highly structured. 3. Position power, is the extent to which a leader has formal authority over the followers. When position power is high then the leader has the power to plan and direct the work of followers, evaluate it and accordingly reward or punish it. On the other hand, when position power is low, the leader has little authority over followers. (Appendix 3, p. 11 presents Fiedler’s examination on how Leader Style fits the situation) Finally, according to Fiedler, task-oriented leaders tend to be more effective in situations that are either highly advantageous or highly disadvantageous to them and that relationship-oriented leaders tend to be more effective in situations that are moderately advantageous to them. (Bolman,L. G. , Terrence,D. E. , Reframing Organisations, Ch. , Reframing Leadership, p. 342-344) According to Collin, a level 3 leader is a competent manager who is skilled at organising people and resources towards the effective and efficient pursuit of predetermined objectives. However, as it is showed above, an efficient leader must differ from situation to situation or from team to team, according to its special characteristics. Analysing a level 3 leader in correlation with Contingency theory, we understand tha t a level 3 leader should consider both leader –member relations and tasks. Predetermined objectives cannot be achieved, if mutual trust, respect and open communication do not exist in a team and if tasks are not highly structured and followers do not know precisely their responsibilities. However, we must never ignore the extent to which a leader has formal authority over the followers. (Collins, J. , (2005). Level 5 Leadership: The Triumph of Humility and Fierce Resolve, Harvard Business Review, Vol. 83. No. 7, p. 136-146) For instance, according to my position, my everyday contact is with the sales team. According to my opinion, it is clear that trust, respect as well as open communication and mutual understanding exist within our team. One of the responsibilities of my position is to organise in some extent, their work by indicating them what is our goal and how we can reach it, with what tools and where we want to focus. Another one is to monitor our products sales and ask questions whenever I believe it is necessary. However, my position power is not as high as to evaluate them and reward or punish them accordingly.

My Genre-ation Essay Example | Topics and Well Written Essays - 1250 words

My Genre-ation - Essay Example He grew up in Vienna in a family of fourteen kids, him being the twelfth born. His interest and skills in music became apparent as early as when he was eleven years of age. Because of this extraordinary gift, Franz was allowed to join Chapel Royal Choir. During his early life, he received his education at the Imperial Seminary, gaining vast experience in practical music. His liking for music saw him achieve great strides by completing six symphonies by the time he was 22 years. Other achievements that he made were twelve piano sonatas, eleven string quartets, and the Trout Quintet. In general, Franz grew up to compose an estimated six hundred and forty songs. Most of his symphony pieces are in C major. Like other orchestral pieces, his works were also overwhelming with what was perceived to be technical difficulties (Clive, 9). The pieces are introduced with an unaccompanied unison theme that proceeds all the way to the 8th bar. It is a predominantly horn theme. Its purpose is that it acts to unify other subsequent themes and harmonize them at later stages to complement one another. This actually what brings forth the real feeling and function of the symphony. Later in the 8th bar, we find that the strings enter with a moving rhythmic triplet figure. This rhythm represents the feature of the first movement. From here, the next rhythm we progress to is a straight away lyrical episode, which takes in to consideration the initial 8 bars. These first bars are sustained with a solo woodwind. From here, the symphony then proceeds with some variants at fist. Staccato strings come in here to bring up the theme. Some scholars have interpreted the early use of staccato here to be a pace setter for a later melancholic mood given these variants. The next thing is that the theme then moves to lower strings as the Andante carries on. The purpose of having adante here is to explore the themes as well as the assembled rhythmic material.

IKEA marketing concept Essay Example | Topics and Well Written Essays - 2000 words - 1

IKEA marketing concept - Essay Example The consumer lacks consideration, but the cost of production is considered. It is favorable for goods sold to highly sophisticated customers. (Hilstrich 2000 page 12). The benefits of value-based pricing are the ability to set prices that are likely to attract buyers because of the market consideration. The major challenge for this approach is the extensive need of advertisement to sell the brand name to customers for them to accept its benefits. The profit margin is also extremely low, and it is not easily accounted for entirely. It can also alienate some customers who purchase based on pricing. (Hilstrich 2000 page 24). Cost based pricing benefits ranges from the high profit margins by goal setting by the company. The greatest drawback is the high pricing that may exceed the consumer threshold, which leads to a struggle in the generation of enough volumes for the market. It also ignores the image of the product to consumers and thus lower profit per sale than would otherwise be realized. The IKEA Company uses the value based pricing strategy in the pricing of its products. This is the best pricing strategy that the company uses to provide the home products to its customers. A nonprofit oriented company provides the goods to the market at somehow consumer friendly prices. The company also enjoys a large market and is being exempted from taxation due to consumer consideration during pricing. During the company’s establishment, they used the penetrating pricing strategy by offering lower prices for their products in order to attract the market. This approach made them accrue a larger market around the world. Their production costs were also low because they used the prisoners as their source of labor. With time, they gained momentum in business but continued offering their products at lower prices. They were exempted from taxation due to this undertaking. They did not mostly use the skimming approach though they were a significant competitor in the market. To att ract other companies into the market, they used the skimming approach, which later lowers the prices due to increased supply in the market. The company’s aim is to provide the household products to the market at lower prices. They are exempted from taxation and the profits accrued are shared to the owner at a constant rate. Economic recession forces it to increase the prices as well as the other competitors increase their prices. The economy approach also gets used because the costs of marketing and product promotion are low. The price notations at different times of the year by using offers are common in the company. The power pricing consideration shows that the company determines its prices in relation to the price elasticity of demand. Therefore, an increase in the prices of its products does not decrease the demand of its products. The increase in prices is so low and thus it has a little effect on the demand. Question 2 – on distribution Hilstrich, 2000 states th at vertical marketing is a form of distribution from the producer to the wholesaler, then to the retailer and to the consumer with the aim of targeting a given industrial niche. This is carried out by related businesses that take part in the provision of a given specialized needs. Horizontal marketing is a form of distribution channel whereby many organizations, which are at the same level, join for capitalizing on

Teaching Learning Approaches - Multimedia Essay

Teaching Learning Approaches - Multimedia - Essay Example type II diabetes, the humanist theory will be suitable since it considers that real learning is something that the patient discovers for him/herself, basing on the fundamental principle that learning must always be grounded on learner-centered objective identified by the learner him/herself (Aujoulat, 2007). Moreover, the paper will incorporate two multimedia materials that will be used in training the patients. The multimedia to be used will use interactive health websites and virtual communities since the patients to be educated are adults who are well exposed with the digital world of IT. The humanistic theory will incorporate both Maslow hierarchy of needs by Abraham Maslow and humanistic approach o psychology by Carl Rogers. Developed by Abraham Maslow, humanistic theory is based on the concept that experience is the key phenomenon in the study of human learning and behavior as well. Maslow based his emphasis on creativity, choice, values, all distinctively human qualities, self-actualization, and believed that subjectivity and meaningfulness were always important than objectivity. Maslow believed that full development of human potential, worth and dignity are the ultimate concerns. According to Maslow (1968), human motivation is based on a hierarchy of needs: physiological, safety, love/belonging, esteem and self-actualization. Tentatively, Maslow tried to prove that the drive to learn is intrinsic thus; the main purpose of learning is to bring about the highest level of the hierarchy of needs, which is self-actualization. In this regard, the objective and process of the educator should include this process (Frick, 1987). Maslow argued that learning contributes to the psychological health of the learne r and came up with learning goals: discovery of one’s vocation or destiny, realization of life as precious, sense of accomplishment, developing choice, satisfaction of physiological needs, grappling with the critical existential problems of life and impulse

Royal Opera House analysis Term Paper Example | Topics and Well Written Essays - 750 words

Royal Opera House analysis - Term Paper Example d analysis of the entire organization, products, uniqueness, strengths and weaknesses of it as a business model, and other imperative sectors which will enable others to understand how this organization functions and targets its demographic in order to serve the public by meeting cultural desires of the people for entertainment and also to provide jobs for those who are employed by the ballet and opera house as performers. The organization itself is a series of different theaters, both inside and outside that are home to the ballet, opera, and orchestra and also show many other performances. Not only is there an entertainment sector, but there is also an educational sector that serves as a program for young and promising dancers and musicians to further their knowledge in hopes to try their own personal talent. The students are coached as if at a school and become more formally educated than they would at a public or private school in London. The Royal Opera House is one of the top theaters in the world. While there are numerous other theaters in the area, many are much smaller than the Royal Opera House. This organization is supported by patrons, donors, and even grants. However, additional income is earned through the bars and restaurants that are included within the Royal Opera House. Another portion that serves as a fundraising opportunity for the organization is the gift shop which offers products both for sale onsite and also on the Internet. Music and the arts as a source of entertainment is very popular in this area. Located in the City of London, it is a place where not only locals but visitors can attend performances all year long. Many of the productions are targeted toward elitists. However, many of the programs produced at the Royal Opera House are starting to focus more on the youth. One recommendation is that the Royal Opera House continue to market toward the youth both as performers and as audience members. This is an excellent

Discuss the role of craft and decoration in C.H. Townsend's Essay

Discuss the role of craft and decoration in C.H. Townsend's Whitechapel Art Gallery (1901) what kind of social ambitions do th - Essay Example He was born in Birkenhead, Cheshire and started his architectural career as a draftsman in London. He later branched off to his own in 1877 and built connections with RIBA and the Art Workers Guild. He became the Master of the Art Workers Guild in 1903. It has been argued that he might have been the only English Architect to have worked in Art Nouveau. However, Townsend considered himself an exponent of the freestyle movement of the Arts and Crafts Movement. Some of his buildings that stand out in style and originality include the Bishops Gate Institute, the Horniman Museum and the Whitechapel Art Gallery. The Whitechapel Art Gallery was a clear attempt by Townsend to showcase the spirit and ideals of the Arts and Crafts Movement. On the exterior, the building has a two tower feature that is a signature feature of Townsend’s architectural designs. It has a relatively wide frontage and it fits organically into the environment around it. Perhaps this imposing nature of the desig n was intended to portray the building as an important and authoritative structure in the East London area. By blending organically with the surroundings, the structure ably served its purpose of providing recreation for the locals without seeming pervasive. The main doors of the Whitechapel gallery go in at the street level. The placement of the doors is done in an asymmetrical way on one side. The large semi-circular light above them naturally takes the eye upwards leading to the impressive keyed arch on top. From the onset, the art gallery was designed for the people. Hence, by putting the doors to go in straight at the street level, Townsend projected the building as easily accessible. A person walking on the streets could instantly connect with the building and easily enter if interested. Also, the light on top of the door was a natural way of allowing a person’s eyes to wander and explore the other compelling feature of the building: the rounded, arched keyway. This dec orative and artistic piece purposively ushered a person into the art gallery in a subtle way. Suffice to say, the keyed arch is neatly tucked into the building and not protruding into the streets in an intrusive manner. This design made the building to feel like a natural fit into the surrounding area without seeming intrusive. The elaborate frontage design of the building was perhaps meant to make it standout in contrast with the railway stations that were already running in the place. The railway stations were uninviting and dull. Also, the underground trains were running through darkness in the tunnels. In contrast, the Whitechapel Art Gallery frontage was bright and welcoming. It opened quickly into a space where the mind could engage in a captivating journey. The frontage of the building was meant to act as an inducement for people to come into the gallery and explore the art pieces on exhibition. The design had the role of attracting passer-bys and engages their curiosity on t he things that they could find inside the gallery. In fact, the gallery attracted over two hundred thousand people during its first exhibition. The towers of the building are square in design but taper as they rise. At the top, the towers divide into four turrets with a larger turret in between. Previously, Townsend had a much more bold design that he showcased 1890s. The design of the towers projected the relationship between the earth and the