Sunday, May 17, 2020
Critique on Leadership: A Communication Perspective Summary Ã¢â¬Å"Effective leadership is the product of the creation and delivery of inspiring and compelling messages.Ã¢â¬ (Hackman Johnson, 2009, p. 336). This book is a comprehensive review of historical insights, current theories and recent research on leadership theories and leadership issues, with an emphasis upon how effective leaders communicate. Leadership: A Communication Perspective is based on the current and somewhat American idea that leadership can be learned and anyone can be a leader. Leadership is viewed as an interaction between leaders and followers, in which shared goals are discovered. Humans are unique in their use of symbols. As leaders, this ability to createÃ¢â¬ ¦show more contentÃ¢â¬ ¦Hackman and Johnson (2009) provide the needed communication techniques, characteristics and goals to become effective in each of these areas. They also practically provide insight into ineffective techniques, the styles and characteristics that need to change for an individ ual to effectively lead. After a comprehensive review of historical and current theories, the authors discuss practical implementations of leadership in such areas as diversity, crisis management, and leadership development. Personal Response Leadership: A Communication Perspective was clear, comprehensive and easy to read. The use of examples of successful leaders who had implemented each theory was inspirational and helped to further explain each theoryÃ¢â¬â¢s implementation. The use of case studies, self assessments, and application exercises kept the focus on how the reader can change and become a more effective leader. The use of Ã¢â¬Å"Spotlight on TechnologyÃ¢â¬ and Ã¢â¬Å"Leadership on the Big ScreenÃ¢â¬ , kept it interesting and made it more personally applicable. This writer is interested in other cultures and especially enjoyed the sections on Ã¢â¬Å"Cultural ConnectionsÃ¢â¬ with its emphasis upon how cultural values impact the effectiveness of many theories or strategies. By emphasizing the spiritual and ethical dimensions of leadership the book demonstrates that leadership is more than behavior. Stephen CoveyÃ¢â¬â¢s Ã¢â¬Å"The 7 Habits of Highly EffectiveShow MoreRelatedThe Timeless Quality of the Foundations of Excellent Leadership1177 Words Ã |Ã 5 PagesFoundations of Excellent Leadership Are Timeless Introduction It is often said that a manager is what one does and leader is who one is. This is especially the case during times of turbulent economic, social and political change. In the debate of whether the effectiveness of a leaders communication skills is dependent on their age or generation, one must take into account one of the most critical skills in any leaders skill set, and that is emotional intelligence (EI) (Avolio, Yammarino, 2002)Read MoreApplication For Successful Electronic Health Records947 Words Ã |Ã 4 PagesReflection Paper Introduction As per Fenton, Giannangelo, Stanfill (2006), Workflow, project management, personnel, training, support, communication, motivation, vision, leadership and evaluation, are essential considerations for successful electronic health records (EHR) implementations. HI 5329 Assessment and Evaluation course utilized a team work practical approach that covers explicitly or implicitly the majority of those considerations. The first six modules within this course focused mainlyRead MoreCritique of MeindleÃ¢â¬â¢s Management and Leadership Styles1177 Words Ã |Ã 5 PagesCase Analysis: Zelte USA By Kimberley Coleman Strayer University BUS 520 Critique MeindleÃ¢â¬â¢s management and leadership styles. MeindleÃ¢â¬â¢s approach to management resembles a hierarchal structure, with orders coming down from the top with very little upward communication. He didnÃ¢â¬â¢t pay much attention to individual personalities. Maintaining tight control over all company operations was the way Meindle managed Zelte. He refused to allow other sales representatives to contact the companyÃ¢â¬â¢sRead MorePractices of Leadership Contribute to Managing Communication in the Post Bureaucratic Era1415 Words Ã |Ã 6 PagesIn this essay, I am going to discuss how practices of leadership contribute to managing communication in the post bureaucratic era. This essay shall discuss the effectiveness of leadership approaches in the post bureaucratic era in managing communication in organizations. In section 1, I shall discuss leadership in terms of communication by drawing upon the article by Barry B. (2007). In addition, I shall also discuss the use of communication in running an organization in a le aderÃ¢â¬â¢s desired way (JackRead MoreThe Hidden Curriculum, And The Way That Social Classes Work Within The School System1512 Words Ã |Ã 7 Pagessocial classes of schools and the impact of the curriculum being effected by the class of the institution. In class, weÃ¢â¬â¢ve yet to touch strongly on the topic of Special Education, and this field is one that intrigues me as the styles and types of communication that are used are different than what I personally have experience with. A lengthy text at 55 pages, the document walks through the different resources that are used for students with Special Education Needs in regards to conflict resolution andRead MorePersonal Statement : Pursue School Counseling914 Words Ã |Ã 4 Pagesas a school counselor. I am currently a communication major and human services minor. Though communication may not be the prerequisite field of choice, as say psychology, I feel that it has equipped me with a unique perspective on people. For four years now I have learned what healthy, effective communication looks like and how to apply it. I have taken courses in interpersonal, gendered, business, non-verbal, and leadership communication. My leadership classes have been particularly helpful inRead MoreSch ool Wide Change Management Requires An Effective Process1587 Words Ã |Ã 7 Pagesprocess involves a clear vision, collaboration, communication, accountability, and thorough evaluation. Inspiration leadership requires leaders to be visionaries that can guide people toward a clear, detailed vision of the future with a firm hand. Goleman refers to this type of leadership as Ã¢â¬ËVisionaryÃ¢â¬â¢ leadership (Goleman, 2002, p. 58). In order to create effective change, one must know the direction the school needs to take. This requires the leadership to be transparent regarding the data and causeRead MoreI Am Experiencing Through Self Assessment1674 Words Ã |Ã 7 Pagesgoals and plans into a cohesive whole. When a team is successful, it funnels the energy of team members for the overall good of the organization. Aligning my strength of team building with effective communication skills Critical factor in team success is Effective Communication skills- Communication supports each of a managerÃ¢â¬â¢s P-O-L-C functions. The ability to effectively communicate is a necessary condition for successfully planning, organizing, leading and controlling. It is how we coordinatesRead MoreDpt Essay Examples726 Words Ã |Ã 3 Pagesprofessionals to help serve the diverse patient populations in any future setting. Being able to critique my fellow students as well as being critiqued myself would further enhance my ability to learn. As a student-athlete balancing both academics and athletics, I have learned the importance of working alongside others towards a common goal and have gained valuable work ethic skills. I have also learned how leadership plays an essential role in reaching that goal. Additionally, working as a Certified NursingRead MoreThe Transformational Leadership Model Of A Business Environment1426 Words Ã |Ã 6 PagesThere are several different theories that can be applied to leadership. Hence, there are no right or wrong theories, purely just diverse perceptions. The trait theory of leadership believes that leaders are born and not made. This theory claims that leadership is inherited, and great leaders are born with natural leadership traits. Zaccaro, S. J. (2007) defines this as a Ã¢â¬Å"unique property of extraordinary individuals whose decisions are capable of sometimes radically changing the streams of historyÃ¢â¬ [Pg6]
Posted by Landon Harvey at 5:41 PM
Wednesday, May 6, 2020
Essays on Return On Capital employed (McBride plc) Essay Introduction Critical study of capital structure attempt to show the growth in capital employed and also explains the mixture of securities as well as other capital sources use by corporation and individuals to finance any real investment. Most of the research on capital structure focuses on the proportions of equity to debt ratio observed on the companyÃ¢â¬â¢s balance sheet statement. Considering the first landmark work of Millar and Modigliani (1963), a number of theories would be used to predict and explain the company leverage behavior as one of the key cornerstone for determining the worthiness of a sound investment. Therefore this research will provide a more insight into empirical determent of the target capital structure of McBride Plc so as to evaluate the return on capital employed which is the main component is assessing the money value realized by any investor in the shares of this companies that are listed in the UK stock exchange. Return on capital employed is conside red to be the most appropriate and the best measure of profitability of any company in order to assess and determine the overall performance. It shows how well management has used the investment made by the creditors and owners into the business. For any investor who would like to make an appropriate and a profitable investment decision, then, determination of return on capital employed would be one of the key indicators of firmÃ¢â¬â¢s worthiness as well as financial soundness. Findings McBride is one of the largest suppliers of private personal care and labeled household product in its major markets in the United Kingdom and increasingly to Poland. It works so closely with the stake holder who has a significant influence on the ongoing success of the business. The group customers are the most leading retailers across Europe which has been achieved by maintaining and developing an excellent customer service relation. The UK market private Label House sales grows by 4 % in an overall market that grew by 1%, where as personal care also grew by 4%, this shows that group operates in a highly competitive and dynamic market characterized by increasing customer concentration, the growth of discount retailers, numerous private label as well as branded competitors evolving customer product preferences and the selling pressure. This positive and stable trend has given McBride an advantage over other rival companies, therefore guaranteeing all the investors a higher return of the capital employed while investing in this company. The capital structure of McBride shows a constant common stock of 18.1M for all the three year and a huge additional capital. This clearly indicates that the company is anticipating to improving the financial position in future. Analysis To determine the growth of McBride Company, there is need to screen the companies year to year as well as three year growth in the overall sales and earnings which is preferable 20% 0r above for any financially sound company. Where as, the return on capital (ROC) should be at least 10% so as to find some potential competitive advantage over investors. According to the findings above, there is more capital employed in to business so as to finance the company operation rather than over relying on debt as a source of capital. In determining the capital employed the following formulas is used; Return on capital employed=fixed assets+ investment+ Current assets Net capital employed= Fixed assets+ investment+ working Capital Where working capital =current assets-current liabilities Comparing the three consecutive years 2009, 2010 and 2011, based on the balance sheet statement provided in the appendix 1, the following results would be used to evaluate the progress to the company in order for the investor to make a health investment decision. In the year 2009, ROCE=227.5+1+203.6=432.1 NCE=227.5+1+ (203.6-220.4) =211.7 In the year 2010, ROCE=220+1+218.1=439.1 NCE=220+1+ (218.1-229.3) =209.8 In the year 2011, ROCE=265.9+1+252.1=519 NCE=256.9+1 + (252.1-278.9) =231.8 % growth in = (231-209)/209*100=22% The result shows that the overall return on capital employed is increasing from the year 2009 to 2011, which shows a positive growth of 22% as seen in the current period computation. This is attributable as a result or more sale made by the company which intern increases the amount of revenue collected. A growth of investment strategy can be combined with the value investing concept so as to give a performance a lift and limit the downside risk exposure. One has to remember buying growth companies stock when the prices are cheap i.e. growth at a reasonable price (GARP) and later sale when the prices are high so as to realize more returns. Conclusions The investment strategy adopted by the client is referred to as growth investing strategy which involves investing in accompany that grows very fast. Any stock with superb growth prospect, financial health, steady growing stock price and expanding profitability tend to attract more investors, fund managers and bankers who are the key movers of the market. Considering the calculation in determining the overall return expected for investing in McBride plc, then it is worthy for the client to invest his pound one million in this companies. This amount will considerably be realized in future as the market condition of UK is guaranteed as well as the company performance is anticipated to perform better. Appendix 1: McBride Plc Balance sheet statements for the three years (2009, 2010, 2011) Ã 2011 2010 2009 Period End Date 06/30/2011 06/30/2010 06/30/2009 Assets Ã Ã Ã Cash and Short Term Investments 9.6 5.0 2.8 Total Receivables, Net 149.1 133.8 128.8 Total Inventory 81.6 69.9 68.0 Prepaid Expenses 5.5 3.6 4.0 Other Current Assets, Total 6.3 6.3 0.0 Total Current Assets 252.1 218.6 203.6 Ã Ã Ã Ã Property/Plant/Equipment, Total - Net 190.9 179.9 189.2 Goodwill, Net 34.9 32.9 29.7 Intangibles, Net 3.7 5.4 5.7 Long Term Investments 0.0 0.0 0.0 Note Receivable - Long Term 0.0 0.0 0.0 Other Long Term Assets, Total 3.1 3.5 3.1 Other Assets, Total 0.0 0.0 0.0 Total Assets 484.7 440.3 431.3 Liabilities and Shareholders Equity Ã Ã Ã Accounts Payable 169.5 141.4 133.3 Payable/Accrued 0.0 0.0 0.0 Accrued Expenses 35.6 39.5 38.8 Notes Payable/Short Term Debt 46.5 15.0 25.7 Current Port. of LT Debt/Capital Leases 0.8 0.4 0.8 Other Current Liabilities, Total 26.5 33.0 21.8 Total Current Liabilities 278.9 229.3 220.4 Total Long Term Debt 46.0 49.6 58.7 Deferred Income Tax 11.4 11.4 14.3 Minority Interest 0.6 0.6 0.0 Other Liabilities, Total 23.0 25.3 19.4 Total Liabilities 359.9 316.2 312.8 Redeemable Preferred Stock 0.0 0.0 0.0 Preferred Stock - Non Redeemable, Net 0.0 0.0 0.0 Common Stock 18.1 18.1 18.0 Additional Paid-In Capital 139.9 143.5 143.5 Retained Earnings (Accumulated Deficit) -33.2 -37.5 -43.9 Other Equity, Total 0.0 0.0 0.9 Total Equity 124.8 124.1 118.5 Ã Ã Ã Ã Total Liabilities ShareholdersÃ¢â¬â¢ Equity 484.7 440.3 431.3 Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Bibliography; Rajang, R, G, Zing ales, L, 1977, what do we know about capital structure choice? Some evidence from international data, Journal of Finance, 50(5), 14212-60 Ro, B, T, 1999, the disclosure of capital information and stock prices, Journal of accounting research, 16(2), 315-340 Beattie, V, Edwards, K, 2003, Issue concerning Business reporting: an analysis of the views of interested parties, British Accounting Review, 35(2), 155-187 Bevan, A, A Dan bold, J, 2002, Capital structure and its determination in the UK, applied financial economics, 12(3), 159-170 Hertz, R, H, 2003, a year of change and change for the FASB, accounting horizon, 17 (3), 247- 255 http://moneycentral.msn.com/investor/invsub/results/statemnt.aspx?lstStatement=Balancestmt View=Ann symbol=GB%3AMCB Joshi, L, P, Ramadan, S, 2002, adoption of international accounting standards by small and closely held companies: evidence from Bah ran, journal of accounting, 37(4) 429-440
Posted by Landon Harvey at 7:36 PM
The lies of the multi-year fraud have been revealed and exposed, accusing Mr. Schushy by the Securities Exchange Commission (SEC) in falsely exaggerating HealthSouth earnings. In this paper, I will analyze organizational culture of that Richard Scrushy has created, and the consequences of the financial fraud that has occurred at HealthSouth. ScrushyÃ¢â¬â¢s background ScrushyÃ¢â¬â¢s story of climbing the ladder is quite impressive. Richard Scrushy was a High school dropout. He got married at a young age to his first wife with whom he had two hildren. Scrushy was a diligent provider in the family. While residing in the trailer park and working hard, Scurshy got very frustrated and dissatisfied with his life. Therefore, he chose to obtain a certification through college as a respiratory technician. Eventually, Scrushy became an instructor of Respiratory Therapy at the University of Birmingham. After serving years as an instructor, he was able to become a director of the respiratory unit at a Birmingham hospital. We will write a custom essay sample on The Scrushy Way or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Then, in 1979, Scrushy transitioned into Life-mark Corporation, a company that managed hospitals. Once again, Scrushy was able to rise up the ladder in the company. He held several positions at Life-mark, and eventually became a corporate director. There he was, at the age of twenty-eight, a successful young man, who has made himself. (Matulich, 2007). Jennings(2012) described the start of HealthSouth in steps. Frist, Life-mark was acquired in 1983. Scrushy had many brilliant ideas; one of them consisted of incorporating a rehabilitation services for patients at a lower cost. This new line of service would make an organization a Ã¢â¬Å"one stop shopÃ¢â¬ , providing patients with surgery, rehabilitation, and much quicker ecovery. Scrushy was able to put his idea into practice, forming HealthSouth (Jennings, 2007). Scrushy in the public eye It is interesting to study Mr. Scrushy and his business practice. He was a person, who was comfortable at living a double life. On one side, he was a charismatic, kind, generous, and very likable individual. Scrushy was loved by most celebriti es, and he was, indeed, a celebrity. He had that lifestyle: a jet, several homes, multiple cars, and a lot of money. Scrushy was an influential figure; his name stood behind many growing businesses, endorsements, and promotional materials. He lived a life, where money could buy everything. As a business man he was a dynamic risk taker, excellent goal setter and achiever. Scrushy as a CEO Unfortunately, Scrushy had another personality as a CEO that only his employees knew about. Helyar (2003) wrote about ScrushyÃ¢â¬â¢s ways of getting things accomplished. Helyar described Scrushy as a terror CEO, who created a very intimidating, controlling, based on fear and pressure corporate culture. His meetings were torture and pure harassment; many employees have reported that they were humiliated, made fun of, and treated with disrespect. As the company grew, Richard Scrushy was becoming more and more paranoid. He hired bodyguards, made special entrance ways to the buildings for himself, and spied on his employees. (Helyar, 2003). HealthSouth during the good times The company was performing extremely well in through the mid- 1990s. HealthSouth was the largest Healthcare organization in America, fortune 500 company on the list, with winning stock market record. Scrushy in public was viewed as the most loved, admired, and high paid CEO in the Healthcare industry. From the outside, HealthSouth was doing unbelievably well. As Jeanine Ibrahim (2013) described, Scrushy lived high, putting Ã¢â¬Å"charismatic exterior on the showÃ¢â¬ . Therefore, on the outside, there were no external flags raised, but on the inside, the organization was boiling. Collapse of HealthSouth In 2002, Scrushy started to have a bad feeling about the organization. He sold a lot of his shares, and was determined to divide the company in half and separate the finances. He was on the way out, when all fiasco has started in the accounting department. The financial problem that originated in the 1996, instead of being revealed, got covered with fake numbers, and the umbers grew year after year. After the former CFO, Weston, blew the whistle, the process of the investigation has begun. The audits were performed and the findings were announced. According to Bergeniv,Magath, and Weld (2004), a very through audit conducted by PricewaterhouseCoopers noted that HealthSouth Corporations cumulative earnings were exaggerated by anywhere from $3. 8 billion to $4. 6 billion. HealthSouth agreed to the forensic audit discovery of at least another $1. 3 billion dollars in suspect financial reporting in addition to the previously estimated $2. 5 billion. The very last report found additional fraud of $500 million, and secured at least $800 million of improper money usage for high bonuses, third party transactions, and accounting reserves. These very findings have put an end to the long term fraud activity at HealthSouth. Fifteen employees, mostly executives and accountants came forward with, claiming their guilty involvement in the financial fraud. The CEO of the company, Scrushy, denied any knowledge of the ongoing fraud in the organization. Impact on Stakeholders The fraud at HealthSouth had a very negative effect on the stakeholders. There was a lot of pension money invested by many people. Employees, customers, and patients also had money invested in HealthSouth stock market. In 2003, it became obvious that the fraud situation at HealthSouth has caused investors a serious damage and loss. Outcome and Fairness of Punishment It is interesting to see that Scrushy got lucky even in the trial. The jury did not find him guilty. While his employees went to prison for the fraud they conducted, Scrushy was safe. Though there is plenty of evidence that he orchestrated the fraud, the court found him not guilty. The federal government was shocked and disappointed. However, ScrushyÃ¢â¬â¢s freedom was only short lived, due to the next trial, based on the political bribery charges, that put him in jail for 82 months (Pavlo, 2012). Besides his jail time, Scrushy was also made to pay back $36 million fine and give away his assets. Conclusion I believe, to this day, there are people who struggle to answer the question of who Richard Scrushy really was in the business arena. Some continue to think of him as a business genius, but maybe, the facts speak for themselves. Though he denied any involvement in the fraud occurrence, the evidence was established to confirm that he was aware of many ongoing fraudulent activities in the finance department at HealthSouth. As a CEO, his job was to know and approve the budgets and check all the balances. Perhaps, he was both: a self-made, hardworking, and unbelievably smart person, who lacked business ethics and allowed his personal interests to be present in the core of every decision that was made. According to Werner (2003), it really did not matter in 2003, because everybody lost back then. Unfortunately, not just he reputation of Richard Scrushy suffered; the government, stakeholders, and the whole society, in general, have failed and suffered as well. The government failed to control the auditing from the very start of this organization, therefore, the stakeholders lost their money, resulting in the negative influence on the American society and economy. Based on this story of HealthSouth and many others throughout the course, it is discouraging to see the effects of the money and power on the human being. A chance, that an individual will do the right thing appears very slim when big money and power are involved.
Posted by Landon Harvey at 1:37 AM