Personal Philosophy of Leadership

Personal Philosophy of Leadership Being a leader is more than simply holding a leadership position or having the ability to lead. Everyone is capable of being a leader, but not everyone exercises his or her leadership abilities. Each person’s idea of leadership is different. My idea of leadership has developed over time, and being a member of the President’s Leadership Class has helped me develop my philosophy of leadership further than what it was two months ago. My personal philosophy of leadership is the ability to effect change through leading by example, taking initiative, and encouraging others.There have been many things that have affected my philosophy of leadership. Something that has affected me as a leader is my values. One of my core values is responsibility. As a leader, it is important I understand what to do and what is expected of me. When I am responsible as a leader, those I am trying to lead are more willing to do what I ask them to do. Another of my values is respect. In the past, I am always nice and listen to the ideas of others even if they are not the easiest people to be around. In my experience, it has been easier to earn the respect of my constituents when I respect them as well.My core beliefs will continue to influence my behavior as a leader in the future. The development of my leadership philosophy has also been a result of watching my leaders. One leader that has affected me a lot has been my father. When my mom was diagnosed with Lou Gehrig’s disease, he did all he could to help out. He took constant care of my mom, continued to work from home, and helped me with school without ever complaining. I try to behave as he did in my leadership roles. I do everything willingly and help out as much as I can.I aim to keep negativity out of already stressful situations and try not to complain. My leaders at school, both good and bad, have also affected my style of leadership. They helped me learn when I need to sit ba ck and let those I am trying to lead take charge and when I need to take charge of the situation. Watching the bad leaders do things I did not agree with encouraged me to challenge to process and change things when I became a leader. There have also been people who have motivated me to be a leader, especially my high school orchestra director.At the end of my junior year, my director called me into his office and told me he would be moving me from the first violin section to the second violin section. He said he knew I was quiet in the back of the first violin section, but he could see I possessed the leadership skills necessary to sit in the front of the second violin section. This really motivated me to try and make him proud the next year at the front of the section. Many different aspects of my life have affected my leadership philosophy. I want others to be able to see my leadership philosophy at work.To do this, it is important that I be able to connect with those I seek to le ad, as â€Å"The Relational Leadership Model† states, â€Å"Relationships are the focal point of the leadership process† (Komives, Lucas, & McMahon, p. 74). One way I hope to develop a relationship with my followers is by â€Å"Modeling the Way† (Kouzes, Posner, 2008). I will do this by clarifying my values and leading by example. Clarifying values is important because â€Å"To earn and sustain personal credibility, one must be able to clearly articulate deeply held beliefs† (Kouzes, Posner, 2008, p. 9). By clarifying my values, those I seek to lead will understand my mission and will believe I have a goal in mind. Leading by example will help me have a better relationship with my followers because it creates â€Å"a climate that makes it possible for everyone to align themselves with shared values† (Kouzes, Posner, 2008, p. 38). When leaders do not practice what they preach they loose their credibility, and I want my followers to be able to ta ke me seriously. I would like my followers to be able to connect with me and to align their values with mine.Through â€Å"Modeling the Way†, I want to be able to have a good relationship with my followers. My philosophy of leadership will also affect my future as a leader. I will place an emphasis on my values because â€Å"a conscious focus on values should be at the core of any leadership development effort† (Cilente, p. 45). One of my future principles I lead with will be to make sure everyone in the organization’s values align with mine. How would I be able to make any process when everyone in the group wants something else?This is something I had never considered before being a member of the President’s Leadership Class. The President’s Leadership Class has helped influence my philosophy of leadership. I have learned my strengths and weaknesses of leadership through the class. After doing my first reflection paper, I learned that my weakest a rea of leadership is â€Å"Inspiring a Shared Vision. † This helped shape my leadership philosophy by making me realize the importance of sharing my aspirations with the group. I have learned that I need to be louder with my thoughts. This is one area I intend to improve on n my future as a leader. I plan on doing this through practice. I may be uncomfortable at first, but, eventually, it will come naturally to me. The Social Change Model of Leadership says, â€Å"A leader is not necessarily a person who holds some formal position of leadership or who is perceived as a leader by others†¦Leadership cannot be described simply in terms of the behavior of the individual† (Komives, Wagner, p. 45). My definition of leadership is the ability to create a positive change in society and be able to get others excited to see that change.I want to be the embodiment of that definition to others. When others look at me, I want them to be able to say I set an example, have clear attainable views, and make everyone feel like they are contributing to the organization. My personal philosophy of leadership is very important to how I conduct myself as a leader. It has taken years to develop to what it is today and it is constantly changing. Many aspects of my life have affected my philosophy of leadership from my values, to leaders in my life, and people who have motivated me. I will continue to develop my leadership with philosophy as I go through new leadership experiences.References Komives, Susan R. , Lucas, Nance, & McMahon, Timothy R. (2006). Exploring Leadership: For College Students Who Want to Make a Difference. Jossey-Bass. Komives, Susan R. , & Wagner, Wendy. (2009). Leadership for a Better World: Understanding the Social Change Model of Leadership Development. John Wiley & Sons. Kouzes, James M. , & Posner, Barry Z. (2008). The Student Leadership Challenge: Five Practices for Exemplary Leaders. San Francisco, California. Jossey-Bass.

Finance HW Assignment Example | Topics and Well Written Essays - 250 words

Finance HW - Assignment Example The stock s dividend is expected to grow at a constant rate of 8%, and it currently sells for $50 a share. Which of the following statements is CORRECT? d. When stock in a closely held corporation is offered to the public for the first time, the transaction is called "going public, or an IPO," and the market for such stock is called the new issue or IPO market. d. Limited liability is an advantage of the corporate form of organization to its owners (stockholders), but corporations have more trouble raising money in financial markets because of the complexity of this form of organization. Schalheim Sisters Inc. has always paid out all of its earnings as dividends, hence the firm has no retained earnings. This same situation is expected to persist in the future. The company uses the CAPM to calculate its cost of equity, its target capital structure consists of common stock, preferred stock, and debt. Which of the following events would REDUCE its

Technology in Correctional Facilities Term Paper

Technology in Correctional Facilities - Term Paper Example Technological prisons are designed in a manner in which violators or the offenders within the prisons are as well taken care of in terms of their behavioral checks and controls. It is obvious that the inmates would always resort to certain acts that would jeopardize the general security of both the fellow inmates and the correctional facilities (Vargas et al., 2011). The technology is then instituted in several broader paradigms to minimize injuries or other physical punishments. These actions limit the occurrence such violations thereby maximizing the overall security of both the inmates well as facilitating put that assist in the administration of the prisons (Stahl, 2006). To start with, the technology tends to offer a series of strategies that deal with social engineering. These among others include the removal of the violators’ targets within the prisons, which minimizes the opportunity for the inmates finding avenues to commit a crime. Secondly is making the violatorâ₠¬â„¢s target valueless. For instance, it aims at making the target of the intended offense quite unattractive hence reducing the desire of the inmates to interfere. Another revolves around the incapacitation of the offenders (United States.1994). These may include, restrainers, immobilizers, or containers that reduce the will or urge by the offender or incapacitates their ability to undertake an offending action. Another strategy includes the insulation of the offenders’’ targets on derailing the ability or accessibility on the offender's side to commit the offense. In this case, tranquilizers may be afforded to help suppress certain behaviors that are deemed quite aggressive such as the sexual drives that often cause sexual misbehaviors and offense-related courses (Stahl, 2006). Technology prisons against nontechnology prisons It is quite vital necessary to identify the difference between technology prisons and the prisons where there are many interactions between the correctional officers and the inmates are as unimpeachable as the application and the efficacy of the former. This emphasizes on the proper technology and the level in which it is applied.

Symposium and Phaedo determine why Socrates is spared the tragic fate Essay

Symposium and Phaedo determine why Socrates is spared the tragic fate of many old Greek heroes - Essay Example In his analysis, Socrates seeks the interpretation of love from Diotima, a priest of Zeus. Socrates gives the genesis of love, which emanates from Resource and Poverty. To him, Resource is the father of Love and Poverty is the mother of Love. Socrates further argues that Love has many dimensions, it can be patient, harsh, beggarly or deceptive and, therefore, it balances itself into these virtues depending on the situation at hand (Conford, 56). Socrates further argues that people have the desire to procreate, physically and mentally, and for them to bring forth children of high intellect; they have to become philosophers as this will ensure the immortality of their children. This analysis of Socrates in the Symposium makes him a Great Greek hero. Phaedo depicts the death of Socrates; just as Symposium, it is a work by Plato. It analyzes the beliefs of Socrates just before being executed by the Athenian courts for not believing in the Athenian gods (Conford, 32). This analysis by Plato emanates from Phaedo, a student of Socrates. The analysis of Phaedo represents Socrates as a great Greek hero because of his philosophical views of death. Socrates introduces the Greeks into the notion of life after death, arguing of the immortality of the soul. He gives four reasons as such: The third argument is on the fact that visible, mortal and real thins are not the same as invisible, immortal and unreal. The Soul is invisible, therefore, cannot pass the same process as the body which is physical. In conclusion, Socrates compared to Achilles, is greater. Achilles was a warrior but did not embrace wisdom and knowledge whereas Jason is depicted as loving power. Jason and Achilles were warriors who pursued their goals through violent means while Socrates pursed solutions to his problems by searching on wisdom. To Greeks, knowledge is more beneficial that courage or even power, because

The Negative Impact of Electronic Waste Disposal Methods in Africa Research Paper

The Negative Impact of Electronic Waste Disposal Methods in Africa - Research Paper Example In the countries within the continent of Africa, the total amount of electronic waste produced in 2014 was 1.9 Megatons. The only countries that have put in frameworks in terms of national policies and legislative pieces of guidelines are Nigeria and Cameroon. There are nations that are in the process of enacting fundamental legislative frameworks regarding the disposal of electronic waste materials such as Kenya, Ethiopia, and Ghana. According to Bwalya and Zulu (314), the country Kenya do not have a proper framework for handling electronic wastes. This is because Kenya continues to integrate information communication technology (ICT) in its economy. Among the highest generators of electronic waste materials in Africa are Nigeria, South Africa and Egypt with a total of 0.22, 0.35 and 0.37 Megatons respectively in absolute quantities. On the other hand, Mauritius, Seychelles, and Equatorial Guinea are the major electronic waste generators in relative quantities of 9.3 kg per inch, 10 .9 kg per inch and 10.8kg per inch respectively. The entire continent of Africa produces 1.7 kg per inch as an annual amount of electronic waste. This figure reflects only the amount of waste generated domestically and does not include the amount generated through imports of used electronic equipment (Baldà © 38).The challenge that affects the continent is major lack of comprehensive reforms by the governments concerning the electronic waste generation and management.

Problems Faced By Project Managers When Attempting To Weld the Essay - 1

Problems Faced By Project Managers When Attempting To Weld the Temporary Taskforce - Essay Example This essay explores the temporary taskforce as a group â€Å"composed of members from different departments that can create a new way of working from which the members can learn and bring the new methods back to their obligations†. This is considered a parallel learning methodology that is proactive to identify proper workflow charting and assess the entire project using team member expertise to formulate a total, working plan of action for the launch of the project team. The first issue involved in setting up a project team is identified roles and obligations and how to establish a hierarchy of command and control. Stys suggests that it is necessary to include the construction manager to the team during early planning efforts due to their specialized knowledge and experience in construction projects. The construction manager in most instances is accustomed to the supply, cost and labor concerns that arise in construction projects and can bring economic and hierarchical struct uring experience to help develop an appropriate workflow chart to ensure proper communication channels are established and assist the project manager in cost recognition and accounting activities. â€Å"Every construction project is unique with its own problems†. The temporary taskforce, depending on the individuals chosen to represent each workgroup or function, has individual knowledge about their area of interest as it relates to the construction project and can, therefore, brainstorm ideas or offer suggestions based on previous experience, successes, and failures when working on diverse construction projects. The project manager, himself, is not equipped to consider all of the different problems that might be incurred in real-time during a complex construction phase and thus bringing this form of knowledge to the preliminary planning stages ensures a proper development of structure, role identification, and communications channel.

Good will definition Essay Example for Free

Good will definition Essay An account that can be found in the assets portion of a companys balance sheet. Goodwill can often arise when one company is purchased by another company. In an acquisition, the amount paid for the company over book value usually accounts for the target firms intangible assets. Goodwill is seen as an intangible asset on the balance sheet because it is not a physical asset like buildings or equipment. Goodwill typically reflects the value of intangible assets such as a strong brand name, good customer relations, good employee relations and any patents or proprietary technology. Method: There are three methods of valuation of goodwill of the firm; 1. Average Profits Method 2. Super Profits Method 3. Capitalisation Method 1. Average Profits Method: This method of goodwill valuation takes the average profit of previous years as its basis. This average profit is multiplied by the number of purchases made in that year. Goodwill = Average Profit x Number of Purchases in the year Before calculating the average profits the following adjustments should be made in the profits of the firm: a. Any abnormal profits should be deducted from the net profits of that year. b. Any abnormal loss should be added back to the net profits of that year. c. Non-operating incomes eg. Income from investments etc should be deducted from the net profits of that year. Example: An Ltd agreed to buy the business of B Ltd. For that purpose Goodwill is to be valued at three years purchase of Average Profits of last five years. The profits of B Ltd. for the last five years are: Year| Profit/Loss ($)| 2005 | 10,000,000| 2006| 12,250,000| 2007| 7,450,000| 2008| 2,450,000 (Loss)| 2009| 12,400,000| Following additional information is available: 1. In the year 2008 the company suffered a loss of $1,000,500 due to fire in the factory. 2. In the year 2009 the company earned an income from investments outside the business $ 4,500,250. Solution: Total profits earned in the past five years= 10,000,000 + 12,250,000 + 7,450,000 2,450,000 + 12,400,000 = $ 39,650,000 Total Profits after adjustments = $ 39,650,000 + $ 1,000,500 $ 4,500,250=$ 36,150,250 Average Profits= $ 36,150,250à ·5=$ 7,230,050 Goodwill = $ 7,230,050Ãâ€"3=$ 21,690,150 Thus A Ltd would pay $ 21,690,150 as the price of Goodwill earned by B Ltd. 2. Super profits method: Super profit refers to a situation where in the actual profit is higher than what is expected. Under this method, Goodwill = super profit x number of years’ purchase Steps for calculating Goodwill under this method are given below: i) Normal Profits = Capital Invested X Normal rate of return/100 ii) Super Profits = Actual Profits Normal Profits iii) Goodwill = Super Profits x No. of years purchased For example, the capital employed as shown by the books of ABC Ltd is $ 50,000,000. And the normal rate of return is 10 %. Goodwill is to be calculated on the basis of 3 years purchase of super profits of the last four years. Profits for the last four years are: Year| Profit/Loss ($)| 2005 | 10,000,000| 2006| 12,250,000| 2007| 7,450,000| 2008| 5,400,000| Total profits for the last four years = 10,000,000 + 12,250,000 + 7,450,000 + 5,400,000 = $35,100,000 Average Profits = 35,100,000 / 4 = $ 8,775,000 Normal Profits = 50,000,000 X 10/100 = $ 5,000,000 Super Profits = Average/ Actual Profits − Normal Profits = 8,775,000 − 5,000,000 = $ 3,775,000 Goodwill = 3,775,000 Ãâ€" 3 = $ 11,325,000 3. Capitalisation Method: There are two ways of calculating Goodwill under this method: (i) Capitalisation of Average Profits Method (ii) Capitalisation of Super Profits Method (i) Capitalisation of Average Profits Method: As per this method, Goodwill = Capitalized Value the firm Net Assets Capitalized Value of the firm = Average Profit x 100/ Normal Rate of Return Net Assets = Total Assets External Liabilities For example a firm earns $40,000 as its average profits. The normal rate of rteturn is 10%. Total assets of the firm are $1,000,000 and its total external liabilities are $ 500,000. To calculate the amount of goodwill: Total capitalized value of the firm = 40,000 Ãâ€" 100/10 = 400,000 Capital Employed = 1,000,000 − 500,000 = 500,000 Goodwill = 500,000 − 400,000 = 100,000 (ii)Capitalisation of Super Profits: Under this method, goodwill is calculated as: Goodwill = Super Profit x 100/Normal Rate of Return For example ABC Ltd earns a profit of $ 50,000 by employing a capital of $ 200,000, The normal rate of return of a firm is 20%. To calculate Goodwill: Normal Profits = 200,000 Ãâ€" 20/100 =$ 40,000 Super profits = 50,000 − 40,000 = $10,000 Goodwill = 10,000 Ãâ€" 100 / 20 = $50,000 Partial Goodwill Method In the partial goodwill method, goodwill is calculated as the difference between the purchase consideration paid and the acquirers share of the fair value of the net identifiable assets. In partial goodwill method, only the acquirers share of the goodwill is recognized. Goodwill under full goodwill method exceeds goodwill under partial goodwill method by the non-controlling interest share of the goodwill. Partial goodwill method is not allowed under US GAAP but it is allowed as an option under IFRS (besides the full goodwill method). Goodwill under partial goodwill method differs from goodwill under full goodwill method only in situations in which investment by the acquirer is less than 100%. Example Lets follow the same example that we discussed in full goodwill method. Company A acquired 75% shareholding in Company B for $20 million. Book value of net identifiable assets of Company B is $14 million. The fair value of Company Bs asset is the same as their book value except accounts receivables which are impaired by $1 million. Book value of assets is $54 million while book value of liabilities is $40 million. The purchase consideration is the cash paid to acquire 75% ownership and it equals $20 million. Fair value of net identifiable assets is $13 million ($54 million book value minus $1 million on account if impairment in accounts receivable minus liabilities of $40 million). The acquirers share of the net identifiable assets equals 75% of $13 million which equals $9.75 million. Goodwill is hence $20 million minus $9.75 which equals $10.25 million. Company A will pass the following journal entry to record the business combination. Goodwill| $10.25 M| | Assets| $53 M| | Liabilities| | $40 M| Cash| | $20 M| Non-Controlling Interest| | $3.25 M| Non-controlling interest is calculated as 25% of fair value of net identifiable assets. It equals $3.25 ($13 million multiplied by 0.25). It can also be arrived at the balancing figure: (goodwill under full goodwill method + assets acquired − liabilities assumed − cash paid). Total goodwill under full goodwill method was $13.67 and non-controlling interest was $6.67 million. The difference is non-controlling interest in case of partial goodwill is only because in partial goodwill method the non-controlling interest share of goodwill is not recorded which equals $3.42 million (0.25 of ($26.67 minus $13 million)). Weighted average profit method This method of goodwill evaluation can be explained as a modified side of the he average profit method. This method involves the relevant number of weights, i.e. 1, 2, 3, 4 multiples profit of each year so as to find out value product. The total of products is thereafter divided by the total of weights so as to calculate the weighted average profits. Goodwill = Weighted Average Profits x No. of years Purchase Weighted Average Profit = Total of Products of Profits/ Total of Weights EXAMPLE The profit of X Ltd. for the last five years and the corresponding weights are as follows. Calculate the value of goodwill on the basis of 3 years’ purchase of the weighted average profit. Solution: Weighted Average Profit = Rs. 21, 30,000 à · 15 = Rs. 1, 42,000. Value of Goodwill = 3 years’ purchase of weighted average profit: Rs. 1, 42,000 x 3 = Rs. 4, 26,000