Born to Be Leaders free essay sample

Chiefs are expected to have authority aptitudes and works with representatives who require them for crucial help and help with their employments. Administrators are likewise liable for improving and supporting the presentation and work endeavors of others. The procedure of the board, which incorporates †arranging, sorting out, driving and controlling, is the procedure that is utilized by all administrators to perceive execution issues, openings, which permits them to make practical insight and accomplish execution objectives. So as to viably follow the procedure of the executives, chiefs are required to have a lot of abilities. Fundamental administrative abilities incorporate the accompanying †specialized aptitude, human expertise and calculated expertise. Specialized abilities are obtained through conventional training and professional training. Assignments, for example, bookkeeping or designing are models that requires specialized aptitudes subsequently features why preparing is significant. The possibility of human expertise is the capacity to work viably with others which complement the significance of relational abilities of a trough. In conclusion, applied aptitude is the capacity to basically and logically see circumstances and take care of issues with an answer that is of the most elevated advantage for all gatherings. From the abovementioned, it is apparent that a director requires a serious measure of aptitudes and as (Ryan, 2010) states, an administrator is one that â€Å"must be a handyman, yet additionally an ace of many†. The nature of being circumspect through correspondence will presently be analyzed to uncover in the event that it is an ability that a director is brought into the world with, or would it be able to be accomplished through preparing. Many accept that viable relational abilities are something that must be conceived inside an individual, which is just part obvious. It is surely obvious that one can be brought into the world with uncommon relational abilities, however viable relational abilities is something that is earned and aced after some time. It is the experience of a director that takes into consideration compelling correspondence which at that point prompts a chivalrous supervisor. This thought is upheld by (Aimee, 2003) who accepts that in regions, for example, business tasks and undertaking the board, there is a need for specialized correspondence to have more arrangement and preparing. This underlines the way that relational abilities requires the best possible preparing and isn't an expertise that one can be brought into the world with. Being learned and mindful in dynamic is a theoretical expertise that is expected of a decent chief thus will be concentrated to uncover on the off chance that it is an aptitude that a director is brought into the world with, or would it be able to be achieved through preparing. Right off the bat, it is realized that with experience, one can improve and better adjust to abrupt circumstances during the procedure of dynamic. To abstain from being dumbfounded and get mindful rather, â€Å"it requires the utilization of social aptitudes to make compelling working connections all through the organization, organizing abilities to arrive at all territories of the association, and specialized information to give initiative when required (Cervone, 2008). This features so as to get calculated aptitudes, the human expertise of correspondence alongside specialized abilities is additionally required and as found in the above contention, it is apparent that human abilities require preparing and ex perience and by and by feature that administrative aptitudes are something that should be prepared, and not just an aptitude that one is brought into the world with. A director requires specialized aptitudes, for example, bookkeeping abilities to monitor conceivable task reserves and so on. Despite the fact that an administrator can assign undertakings subsequently probably won't interact with much bookkeeping forms, a director despite everything should be set up to be drawn closer with issues and furthermore needs to check there is nothing amiss with the project’s financial plan. Bolstered by (Ryan, 2010) as far as library the executives, that â€Å"specialized preparing that was perceived as significant by imminent employers† was utilized to all the more likely instruct and outfit administrators with aptitudes that they need. Likewise, â€Å"librarians experience an instant preparing plan for jobs in library the executives and administration† (Ryan, 2010) to furnish them with abilities and information that is required. Beside the three fundamental administrative aptitudes, the most significant component of a director in anyone’s psyche would be initiative. The possibility of initiative is, to lead a gathering of individuals or association, or being in the situation of a pioneer, to guide and upgrade the exhibition of the gathering. By being a decent pioneer, it will at that point put you into the situation of a decent director. Individuals have a typical accept that a decent administrator must have great authority abilities and that if a chief is driving admirably, the supervisor is progressing nicely, however individuals regularly disregard the individuals who follow the pioneer, consequently the possibility of followership. Followership is fundamentally a gathering of devotees; to help the accomplishment of a pioneer or group. By expressing to not disregard the individuals who follow, it is recommending that a supervisor who has prevalent administration aptitudes didn't accomplish this all alone, however credit ought to likewise go to the person who followed (Hollander, 1992). This features initiative doesn't exist without followership. Stressing that regardless of whether one is brought into the world with unrivaled initiative aptitudes, it doesn't make a difference in light of the fact that it’ll be futile without your adherents, not to mention the way that nobody can be brought into the world with administration abilities. Administration can't be conceived inside an individual; it is an attribute that is created after some time, through encounters and preparing which at that point prompts a pioneer. It is eminent that there are the individuals who are not reasonable to be pioneers, yet nobody can be conceived as a pioneer, or supervisor, without the correct preparing and encounters. The following subject that will be examined will be the generalization of â€Å"Men are destined to be pioneers/managers†. This thought was what many accepted not all that numerous years back however is currently being refuted as we see an ascent in the quantity of ladies gaining a higher administration position all around the globe (Kusterer, 2008). This equitable emphasizes the possibility that nobody is destined to be an administrator, yet rather, anybody can turn into a chief with the right preparing. This table features the regions wherein female supervisors exceed expectations over male in and stress the way that female administrators have their solid focuses also; again underlining the possibility that anybody can turn into a decent chief notwithstanding sex contrasts with the right preparing and training. Above are the contentions that have been given this article. With the meanings of what a decent supervisor is and what they do, to why administrative abilities should be prepared and not just only a blessing. Additionally, the possibility that administration is nothing without followership, to the oust of the old generalization of â€Å"Men are destined to be leaders†. The entirety of the above contentions feature how no administrator can simply be brought into the world with its capacities, and that all originates from preparing and encounters that will permit them to have the right stuff of a decent director. Book index Aimee, L 2003, the aptitudes that specialized communicators need: an examination of specialized correspondence graduates, chiefs, and educational plans, Journal of Technical Writing and Communication, 33, 4, pp. 303-318, Academic Search Premier, EBSCOhost, saw 1 September 2012. Hollander, EP 1992, The Essential Interdependence of Leadership and Followership, Current Directions In Psychological Science (Wiley-Blackwell), 1, 2, pp. 71-75, Academic Search Premier, EBSCOhost, saw 1 September 2012. KUSTERER, H 2008, Exploring the sexual orientation composing of the executives attributes in a populist setting, Scandinavian Journal Of Psychology, 49, 6, pp. 549-557, Academic Search Premier, EBSCOhost, saw 1 September 2012. Cervone, H 2008, Good undertaking supervisors are cluefull instead of confused, OCLC Systems amp; Services, 24, 4, pp. 199-203, Academic Search Premier, EBSCOhost, saw 1 September 2012. Ryan, M 2010, Catching On: Management Training in Depository Libraries, Reference amp; User Services Quarterly, 50, 2, pp. 119-121, Academic Search Premier, EBSCOhost, saw 1 September 2012.

Strengths and Weaknesses of Research Methodology

Question: Examine about the Strengths and Weaknesses of Research Methodology. Answer: Presentation An enormous number of foreigners need wellbeing administrations past fundamental medicinal services gave by NHS and in this way, go to emergency clinics in their particular areas to get social insurance administrations. Such medicinal services specialist co-ops need to comprehend the social insurance desires for foreigners and displaced people to have the option to give them best human services administrations. This exploration includes an examination on an open provincial emergency clinic in Victor whose administration is looking for help in understanding the impression of settler and displaced person patients on the social insurance administrations gave by the medical clinic( Islington Council, 2016). Certain exploration questions can be utilized to control this examination to accomplish this point including: What are the administrations given by the emergency clinic to the settlers and exiles What are the segment and individual qualities of the settler and outcast patients coming to Victoria emergency clinic? How do these migrants and exiles see the human services administrations of the medical clinic? Could there be an extension for development in administrations of the emergency clinic to all the more likely deal with the necessities of these patients? Writing Review The nature of human services in UK fluctuates with the emergency clinics and districts. Residents of the nation certainly appreciate some social insurance advantages and inclinations. In any case, with regards to outsiders, rules and medicines vary. In any case, NHS professes to give free human services benefits even to migrants however government is thinking about confining this free access to social insurance for outsiders and displaced people with restricted remain in UK. As of now, NHS gives free fundamental medicinal services to transients and full NHS social insurance administration to relocating understudies. Free administrations are given by open clinics yet propelled medicinal services administrations are given at an expense. There is less data that is accessible on how these human services administrations perform with the outcasts and foreigners. Different parts of care might be investigated so as to comprehend if the patients have positive encounters of accepting these administrations. Different parts of human services that might be investigated can incorporate correspondence with social insurance experts, meds, nursing administrations, release arranging, torment the executives, and the sky is the limit from there. Past explores has demonstrated that the impression of patients about social insurance administrations is influenced by genuine administrations just as by a few different variables like socioeconomics, wellbeing condition, age, and training levels. A HCAHPSstudy on 4032 clinics of USA had contemplated the view of patients considering emergency clinics administrations and attributes of understudies. Over 63% of the patients gave positive appraisals to medicinal services administrations and 67% were available to prescribing administrations to loved ones. 74% of the patients were happy with the correspondence gotten from human services experts. There are an assortment of examined led on the patients of emergency clinics yet there is exceptionally less writing explicit to the medicinal services got by migrants and outcasts in UK and along these lines, the present examination can fill this hole for UK area by taking the instance of Victorian clinic comprehend the perspectives on outsiders and refugees(Jha, Orav, Zheng, Epstein, 2008). Research plan and direct Philosophy: A quantitative research technique would be utilized including overview for catching encounters of the outsiders and displaced people served at the Victorian clinic. Research instruments: A study would be directed on the migrant and exile patients of the emergency clinic for which a poll would be readied. This poll would include target examines asking patients regarding their encounters with the emergency clinic as for various measurements like correspondence, nursing, torment the executives, drugs, release arranging, and that's only the tip of the iceberg. They would be approached to rate the administrations considering some significant parameters to investigate their views(Chawla Sondhi, 2011). Inspecting: A helpful testing would be utilized as the investigation focuses on a solitary medical clinic with the end goal that the information would be gathered from the patients who might be accessible at the hour of the examination. Information Collection: The patients of the medical clinic would be by and by met by the analyst and a survey would be dispersed so as to get their contributions for the examination. A composed assent with revelation of the hugeness and utilization of study would be taken from them before their reactions are recorded by the researcher(Creswell, 2008). Information examination: The information got would be coded and recorded in SPSS and factual tests like T-Test and Chi-square test would be used for investigation. These tests would be utilized for contrasting different qualities of clinic benefits just as patients from various demographics(Choy, 2014). Confinements: This exploration is focused on just to a solitary medical clinic and in this manner, it may not be summed up for a more extensive cluster of patients including outsiders and displaced people. On the off chance that their perspectives must be contemplated, at that point the examination would need to be repeated for more hospitals(VisitScotland, 2013). Catalog Islington Council. (2016). NHS human services for transients with NRPF (England). NRPF. Chawla, D., Sondhi, N. (2011). Research Methodology: Concepts and Cases. New Delhi: Vikas Publishing House. Choy, L. T. (2014). The Strengths and Weaknesses of Research Methodology: Comparison and Complimentary among Qualitative and Quantitative Approaches. IOSR Journal Of Humanities And Social Science , 19 (4), 99-104. Creswell. (2008). Choice of Research Design. Sage Publications. Jha, A. K., Orav, E. J., Zheng, J., Epstein, A. M. (2008). Patients' Perception of Hospital Care in the United States. The New England Journal of Medicine , 359:1921-1931. VisitScotland. (2013). Netherlands: Consumer Research. VisitScotland.

Reading Pathway Iris Murdoch

Reading Pathway Iris Murdoch Go into any used bookstore in the U.S., and odds are you can find a dozen coffee-stained copies of Iris Murdochs work. Over her literary career she wrote several books on philosophy, giving her more than two dozen novels an interestingly lighthearted academic quality. Her works of fiction tackle complicated sexual relationships, dense philosophical concepts, and surreal moments of personal contemplation, yet the language itself is witty, free of overbearing philosophical jargon, and unrestrained. Of course, Murdochs works still have a remarkable complexity when dissected, but as a reader theres a satisfaction in reading her novels whether you choose to dig deeper or not. Considering how much work Murdoch produced over her 40 years as a novelist, theres not really a perfect route for tackling her work. However, research has suggested that Murdochs last novel, Jacksons Dilemma (1995), differs from her other works due to the onset of Alzheimers disease, which contributed to her passing four years later. Below are my book recommendations as an introduction to Murdochs work. Anyone interested in this author should begin with her first novel, Under the Net, and if youre interested in my thoughts on this book,  the attached essay explains (in a somewhat rambling, pedantic manner) my thoughts on how her debut approaches the subject of nominalism. 1.  Under the Net Murdochs inaugural work is a whimsical and quixotic tale of Jake Donaghue, a book translator who has also published one work of fiction. His profession is of utmost performance and comes into play throughout the novel as he comically searches for truth on a personal, professional, and spiritual level. Bits of philosophical brilliance emanate throughout the story, but Murdochs tone suggests brash indifference, which is apt considering the subject matter. Put more bluntly, she makes a lot of subtle quips about the inaccuracy of language while writing as if she doesnt give a fuck. This makes both the author and her characters more likeable, and fills the book with a refreshing and jovial air of tomfoolery. If you need more convincing, consider that in 1998 Under the Net was included on Modern Librarys list of 100 best English-language novels of the 20th century. 2. A Severed Head If you like Under the Net, odds are youll enjoy A Severed Head. Murdoch wrote several novels in between, but this is considered one of her less dense works of fiction. Candidly, its also one of her racier works, with a focus on the themes of infidelity and incest. Published as Britains sexual revolution came to full force, Murdoch develops a adulterous love hexagon that is as humorous as it is bizarre. The characters, specifically the protagonist Martin Lynch-Gibbon, will make you burst out in laughter despite the fact that their decisions are infuriating and absurd. All in all, A Severed Head is a surreal, amorous, psychological journey that reexamined marriage and sexual relationships at a time when the subject was yet to be en vogue, and the result is delightfully weird. 3. The Sea, The Sea Ive yet to read this book. I considered recommending The Sacred and Profane Love Machine, because Ive actually read parts of it and it has an awesome title, but The Sea, The Sea has a bit more street cred. Not only did this novel win the Booker Prize in 1978, but also researchers from the University College London found that of her work The Sea, The Sea had the most unusual vocabulary. This is Murdochs 19th work of fiction and its a bit longer than the other two novels mentioned here. The title comes from a poem by famous French writer Paul Valery. The subject matter, like much of Murdochs other work, tackles a peculiar romantic relationship and issues of egotism. Its been on my TBR for some time and Im hoping to tackle it soon. My buddy Donnie introduced me to Murdoch when I was a junior in college, and Ive been enjoying her books ever since. These recommendations showcase some of Murdochs more approachable works, but you certainly could tackle her bibliography anyway you so choose. Happy reading! ____________________ Like chattin up other readers and keeping track of your books on Goodreads? So do we! Come give us a follow.

The American Dream Through Various Eyes - 1270 Words

The American Dream Through Various Eyes In a country that is based around the idea that you can be anyone and do anything, one would think that most Americans all want the typical â€Å"American Dream.† Many would agree that when we think American Dream, we think fancy yachts, designer clothing, and big buildings, but is that really what the dream is all about? By definition, the American Dream is defined as, â€Å"the idea that every U.S. citizen should have equal opportunity to achieve success and prosperity through hard work and determination† (â€Å"American Dream†). It is the idea that someone that comes from the very bottom can make their way to the top through determination and persistence. But what is considered to be â€Å"the top† is hard to†¦show more content†¦Perhaps the dream of a wealthy individual is constant improvement and expansion of their wallet, but also to find gratitude with what they have. Contrary to the upper class, the middle class retains an opportunity for growth and therefore believes in the American Dream. However, their dreams shy away from the common view of the American Dream and instead revolve around their values and wants. Primarily, the middle class is defined as having an income between $46,960 and $140,900, although the economic boundaries that make up the middle class constantly varies (Luhby). Besides income, the middle class also can be identified by occupation, net worth, or education, but every middle class citizen, no matter how they are identified, experience similar circumstances (Elkins). The majority of the middle class yearn to have a nice home and secure job, along with extra money to enjoy their interests and hobbies. In addition, they strive to set aside savings for their children’s transition into the working world or future education. Although the middle class has more opportunities than lower class citizens, they still encounter their own struggles. For many middle class families, hard times come and go while they try to maintain a comfortable living situation. Money for them does not come as easily as it does for the upper class, who typically have enough to constantly feel stable. Nonetheless, the middle class obtains enough to live moreShow MoreRelatedThe Great Gatsby - Demise Of The American Dream883 Words   |  4 PagesGreat Gatsby - Demise of the American Dream The Great Gatsby (1925) is a highly symbolic novel written by F. Scott Fitzgerald on 1920 s America, an era of great prosperity and material excess. Its theme mainly deals with the disintegration of the American Dream due to decayed social and moral values. The American Dream is a set of ideals in which freedom includes the right for prosperity, success, and social upward mobility for all Americans which can be achieved through hard work and dedication.Read MoreThe Great Gatsby by F. Scott Fitzgerald845 Words   |  3 PagesGatsby, colors represent a variety of symbols that relate back to the American Dream. The dream of being pure, innocent and perfect is frequently associated with the reality of corruption, violence, and affairs. Gatsby’s desire for achieving the American Dream is sought for through corruption (Schneider). The American Dream in the 1920s was perceived as a desire of wealth and social standings. Social class is represented through the East Egg, the West Egg, and the Valley of the Ashes. The two eggsRead MoreIdentifying And Surveying F. Scott Fitzgerald s The Great Gatsby1675 Words   |  7 Pagestime, discussing and paying attention to the social, historical, cultural and political discourses within the text. F.Scott Fitzgerald constructs a variety of truths throughout the novel, the two truths that where clearly noticeable where â€Å"The American dream† and â€Å"Old and New Money† which greatly supported the normalities of the era, these two topics will be discussed later in the piece. But let s start by recapping a brief understanding that is this novel. F. Scott Fitzgerald’s novel The GreatRead MoreF. Scott Fitzgerald s The Great Gatsby Essay1284 Words   |  6 PagesThe author uses various colors and physical places such as the green light at Daisy’s dock as Gatsby’s unattainable dream of being with Daisy while the Eyes of T.J Eckleburg in the valley of ashes to portray as God’s eyes as well as the reader’s eyes watching Gatsby yearn for his dream only for it to be crushed with a bullet and killed. The novel also illustrates how the American dream can attain one’s wealth and glory but at a hefty price of falling for greed and corruption through Gatsby’s fall.Read MoreThe Great Gatsby By F. Scott Fitzgerald1318 Words   |  6 Pagesvalley of ashes, and the eyes of Doctor T.J. Eckleburg. The green light represents Jay Gatsby’s hopes, as well as his dreams, for the future. Because many people strive to become rich in The Great Gatsby, the result is moral and social decay. The valley of ashes represents social and moral decay, and it also represents the predicament of poor because the poor live in the filthy ashes and lose their passion as a result from living in the ashes. Lastly, I believe the eyes of Doctor T.J. Eckleburg,Read MoreThe Great Gatsby By F. Scott Fitzgerald1330 Words   |  6 Pagesobjects helps to connect the sign ificance of the story on a deeper level and eventually reveal its literal meaning. Many symbols portrayed throughout The Great Gatsby, such as the green light, the eyes of Dr. T.J. Eckleburg, Gatsby’s Mansion and the weather help to uncover one of the main themes–the American Dream. First, the green light located at the end of Tom and Daisy Buchanan’s dock, in East egg, plays a considerable role in Gatsby’s life. In chapter 1, we first encounter Gatsby’s attraction withRead More Symbolism in The Great Gatsby Essay867 Words   |  4 Pageshis thematic interest in his novel of The Great Gatsby. In the Great Gatsby, F. Scott Fitzgerald uses various colors, objects, and gestures as symbols to portray the lack of moral and spiritual values of people and the different aspects of society in the 1920s. One use of symbolism Fitzgerald uses is the green light at the end of Daisy’s dock. He uses it to represent Gatsby’s hopes and dreams for the future. In chapter one, Gatsby associates the light with Daisy when he reached toward it in theRead MoreExpanding The American Dream By Marco Rubio1144 Words   |  5 PagesExpanding the American Dream â€Å"The American Dream is a term that is often used but also often misunderstood. It isn t really about becoming rich or famous. It is about things much simpler and more fundamental than that† (Marco Rubio). The American Dream was a great term to attract many immigrants to this country in the belief that families can restart and reach their dreams. The idea that one can radically change their life and become â€Å"rich† was extremely attractive and can give incentive into movingRead MoreThe American Dream By Dolores Hayden871 Words   |  4 PagesThe American Dream The growth of cities, and their subsequent decay due to a capitalistic order followed by attempts to renew city life along with an exodus of those with means and/or appropriate skin color assisted by policy instruments. With the racial segregation obtained as a byproduct (or maybe product) of the chain of events would summarize the assigned readings in a nutshell. To elaborate from Dolores Hayden’s â€Å"From the Ideal City to the Dream House† the Jeffersonian ideal of democracy favoredRead MoreF. Scott Fitzgerald : The Jazz Age And The Great Gatsby1364 Words   |  6 Pagesknown writers of the twenties. The American writer is given credit for the term ‘Jazz Age,’ immortalizing the glamorous world of wild parties of the upper social classes. With Fitzgerald’s work being described as poetic, it often contain underlying social or capitalistic characteristics rooted in spectacular imagery. The various aspects of Fitzgerald’s work allow for analysis on several levels and from differing perspectives, while functioning as a mirror through which to view society, values, and

Sociology and Easily Governed Society - 1422 Words

Frederick the Great, an eighteenth century Prussian king known for his tyrannical rule, once stated, An educated people can be easily governed. When taken in the context in which he spoke, that of a ruler who demanded complete domination over his subjects, one would take his quote with only one meaning, that more intelligent people can be easily governed. Ignoring the speaker and his reputation, however, this quote then becomes open for discussion. One could read these words and believe that â€Å"easily governed† referred to a people who tend to be more law abiding and can therefore be more easily controlled through a system of punishments. This could also be applied in a way to state that those individuals would be less likely to rise†¦show more content†¦These well-educated individuals will watch the newscasts, read the articles on governmental action or inaction, and listen to the radio hosts who speak on the issues and seem to support their way of thinking. They will argue with friends, family or co-workers and utter phrases like I cant believe (insert politician name here) did that or we really need to fix . . . or We need to do something about . . . because they cant get away with it. Tying in the previous argument that well-educated individuals have more to lose and are therefore, more law-abiding, these individuals will do little more than debate. These individuals value their socioeconomic status too much to risk it by protesting in the streets demanding for the resignations of corrupt politicians or politicians who act against the Constitution. This makes for a more easily governed society because they will not rise up against the government. Nothing negative could be said about a law abiding society. Society would operate much more smoothly without the existence of crime. An interpretation of the quote above leads one to believe that if only society were well educated, its members would think before engaging in criminal be havior and logically, there would be an end to crime. Is that really the case though? Based on the eventsShow MoreRelatedIs Sociology a Science1655 Words   |  7 Pagesstudy of sociology cannot and should not be seen as scientific† To what extent do sociological arguments and evidence support this view? (33 marks) The debate about whether sociology can be represented as a science has existed for many years. Comte; who first used the word sociology argued that sociology should be based on the methodology of the natural sciences. He argues that the application of natural science methodology to the study of society would produce a ‘positive science of society’, showingRead MoreHow Buyer Behavior Affects Marketing Activities in Different Buying Situations1000 Words   |  4 Pagesextremely important to Sunshine. Consumer behavior involves study of how people buy, what they buy, when they buy and why they buy. It blends the elements from psychology, sociology, anthropology and economics. It also tries to assess the influence on the consumer from groups such as family, friends, reference groups and society in general. With that knowledge, Sunshine will know exactly what customers are lacking to increase the value of Nightwish, from which, the company will attract customers,Read MoreThe Foxhole Court, By Writer Nora Sakavic Essay1193 Words   |  5 Pagesstudies the relationships between individuals and society and between markets and the state, using a diverse set of tool and methods drawn largely, from economics, political science and sociology. The term political economy is derived from the Greek polis, meaning city or state and oikonomos meaning one who manages a household estate. 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A developing country, above all, might want to develop their economy, so they endure dictatorship because the dictator can make a decision easily and quickly (Park, C. D. Shin, D., 2006). It also happened in South Korea 50 years ago. In spite of military dictatorship in the past, South Korea has the most successfully established democracy in Asia (Whitehead, L., 2002). There is a specialRead MoreEmergence Of Structural Functionalism. Structural Functionalist1402 Words   |  6 PagesEmergence of Structural Functionalism Structural functionalist theories are grounded in the thought that society and family are congenial entities and, as such, the harmony between the two is the natural state of people, as found in Leeder (2004). Structural functionalism, and the viewing of the family as a social system, is at the core of the family process and other theories. To understand structural-functionalism, we must first understand the coalescing theories in which it is rooted, functionalismRead MoreShould God Have Allowed For Marry Men?1223 Words   |  5 Pagesrace and the raising of children. Another example that shows that many people believe that God made homosexuals to be homosexual†¦ Marriage is not just any relationship between human beings. It is a relationship rooted in human nature and thus governed by natural law. Natural law’s most elementary precept is that â€Å"good is to be done and pursued, and evil is to be avoided.† By his natural reason, man can perceive what is morally good or bad for him. Thus, he can know the end or purpose of eachRead MoreChanging Culture of the Church Essay1682 Words   |  7 PagesWe live in a society today that is vastly different to the one the previous generation grew up in; priorities have changed with people finding completely new ways to spend their time, people have an barrage of options presented to them with every decision and everyone seems to find someone else to blame for the current situation. 50 years ago this country was experiencing a cultural way of thinking known as modernity, this was described very well by Anthony Giddens here; â€Å"Modernity is a shorthandRead MoreThe Model Of Reflection ( 1988 )1665 Words   |  7 Pagesthat ensures the service requirements of rural and remote communities are met should be implemented. (Humphreys Walkerman, 2008). This would involve crucial multidisciplinary practices being easily accessible in these communities. Step 3 Chapter 8 of Second Opinion: An Introduction to Health Sociology has helped to expand my original reflections of the reasons the Aboriginal community’s need for greater health equity, by comparing Indigenous health outcomes with those of non-Indigenous AustraliansRead MoreCHARACTERISTICS OF INDIAN RURAL SOCIETY OBJECTIVES At the end of this session, you should be able2800 Words   |  12 PagesCHARACTERISTICS OF INDIAN RURAL SOCIETY OBJECTIVES At the end of this session, you should be able to explain: 1. Introduction 2. Indian society 3. Characteristics of the Indian rural society 4. Characteristics of various societies ïÆ'Ëœ Features of the traditional society ïÆ'Ëœ Features of modern society ïÆ'Ëœ Features of the post-modern society 5. Conclusion INTRODUCTION In India the significance of the rural sociology earned identification after independence. The agrarian context takes exceptional status both

Financial Ratios and Stock Return Predictability Free Essays

The results indicate that DY and EY ratios has direct positive association with stock return where as B/M ratio has significant negative relationship with stock return. Therefore we can say that the above mentioned ratios are able to predict stock returns, furthermore it can be seen that as compare to dividend yield and earning yield the ratio of book to market has the highest predictive power. Moreover when we combine these financial ratios the predictability of stock returns will enhance. We will write a custom essay sample on Financial Ratios and Stock Return Predictability or any similar topic only for you Order Now Keywords: Financial ratios, Stock return, Karachi Stock Exchange, Dividend Yield, Earning Yield. 1. Introduction Stock Market plays a very significant role in the economic growth of a country. According to A. Schrimpf (2010) there is significant economic aftermath of the existence of stock return predictability. S. Kheradyar et al, (2011), â€Å"The Analytics of Economic Time Series†, states that in stocks market share prices move randomly i. e. on certain day share prices are like to go down as they were like to up. Such random behavior worried some of the financial economists and followed by further research. Hence such random movement of share prices lead to a hypothesis called Random Walk Hypothesis. Random walk hypothesis suggest that it is difficult to predict share prices because stock prices evolved, now it will be showing upward trend but after some time such might be showing downward trend. Hence predicting 100% accuracy of stock return is almost impossible. In contrast to Random Walk Behavior is efficient market hypothesis. According to efficient market hypothesis share prices are fairly priced in the stock market or prices of stock demonstrates information in the market is widely and equally available to all and no one in the market can outperform or can beat the market. With the passage of time researchers tries to find out most accurate variables for predicting stock prices, some were tend towards financial and some were towards profitability ratios i. e. book to market ratio, price to earnings ratio, 1 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 10, 2012 www. iiste. org dividend yield, etc some were tend towards cash flow ratios like price to cash flow ratio, cash burn ratio, etc and some focused on macroeconomic variable like interest rate, law and order situation and inflation rate etc. In this research article we have investigated 3 above mentioned ratios to determine whether they predict stock returns. This research study has used the stock return and the above mentioned financial ratios association at two samples as the foundation for the formulation of Eight hypotheses. On the grounds of their appropriate regression models the eight hypotheses are divided into two sets. In this study we have used the two models of simple and multiple regressions to apply Predictive regression; it is an important tool for predicting stock returns. A set of panal data is used for the formulation of these two models. For tackling the problem of heteroskedasticity and non-normality distributed residuals, we applied generalized least squares method. 2. Literature Review Campbell and Shiller (1988) stated in their study that as dividend yield has the ability to confine expected return and expectation about growth in dividend yield so dividend yield is good predictor of stock return. Chan, L. Hamao, Y. Yakonishok, J. (1991), found that in Japanese market fundamental variables like dividend yield, price to earnings ratio, book to market ratio and firm’s size have significant impact on expected earning/returns of stocks. They notify that there is indirect relationship between earning yield and stocks returns in Japan. In comparison of the size of the firm and earning yield, B/M and dividend yield (cash flow yield) are significantly related with returns of stocks. They further added that an important variable both economically and statistically is book to market ratio and this need to be observe because either the afterward half of the sample is judged or for the first time test is applied the book to market ratio shows it continuation. Mukerji, S. Dhatt, M. Kim, Y. 1997), on Korean Stock market for a period of 1982-1992 establish a direct relationship between return of stocks and D/E, S/P and B/M, moreover an indirect relationship between size of firm and return of stocks. They demonstrated that P/E ratio is less trustworthy indicator than B/M and S/P. Beta is a week proxy for assessment of risk when compare with debt to equity ratio. B/M and S/P are responsible for the direct relationship between re turn of stocks and debt to equity. However a P/E and B/M ratio becomes the base for indirect relationship between return of stocks and size of the firm. Kothari and Shanken (1997) found for US market that dividend yield and book to market ratios have dependable proof for expected real return over a period 1926-1991, and there lies a track of time series variations. Pontiff and Schall (1998) stated that as for predicting power is concerned book to market ratio has some predictability power for predicting stock returns. Lewellen (2002) conducted his study in US he found that predictability power of dividend yield for predicting stock returns is more than P/E and B/M ratios. Ang, A. , and Bekaert, G. , (2006), in their studies tried to forecast interest rate and stock returns with the help of predictive power of dividend yield. They found for short term forecasting, dividend yield predictive power is more than the long term forecasting. But as for the expected growth of cash flow prediction is concerned than dividend yield is a good predictive variable. Akyol, A. (2006), â€Å"analyzed the effect of firm’s size, beta, and book-to-market value on the stock returns in Istanbul stock exchange. He used data from July 1993 to December 2005 for Istanbul Stock Exchange and used Fama and French (1992) methodology to construct portfolios represented accurately by size-beta and then size-book-to-market, he found that book to market and Beta of a firms have no effect on the stock return’s in Istanbul stock exchange. Size of the firm was the only variable which was negatively related to the stock returns in Istanbul stock exchange. He also found that book to market, size and beta is not related with January effects. Hjalmarsson, E. (2004), in his study tried to find out Global stock returns predictability. He took twenty thousand monthly observation form forty international stock markets. In which 24 were of developed economy and 16 were of developing economy. However his study showed that dividend yield and price to earnings ratio has little power of predictability and defends his conclusion by adding that international result is showing deviation from traditional view because the method use internationally may not count for determination of variables. 2. 1 Hypotheses H1: return of stock and DY has no association in time (t) and (t-1) respectively in sample one. H2 return of stock and EY has no association in time (t) and (t-1) respectively in sample one. H3: return of stock and B/M has no association in time (t) and (t-1) respectively in sample one. H4: return of stock and DY has no association in time (t) and (t-1) respectively in sample two. H5: return of stock and EY has no association in time (t) and (t-1) respectively in sample two. H6: return of stock and B/M has no association in time (t) and (t-1) respectively in sample two. 2 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 10, 2012 ww. iiste. org H7: return of stock and DY, EY, B/M combination has no association in time (t) and (t-1) respectively in sample one. H8: return of stock and DY, EY, B/M combination has no association in time (t) and (t-1) respectively in sample two. 3. Research Methodology In order to check predictability power of earning yield, dividend yield and book to market ratios for predicting stock returns the study has taken a sample of 100 firms for a period of 2005-2011. We have applied certain screening criteria’s for companies to be included in the sample. First, the firm must be listed on the KSE before Jan 1st 2005. 2nd, for more than twelve months a stock must not be deferred. 3rd, for the study period of seven years a company stock must not be delisted. 4th, data must be available for all sample firms and variables. Finally, for a period of more than twelve months the dividend yield of firms must not be zero. The study has divided the selected firms into two equal samples, which will reduce the effects of random sampling errors and for the predictive regression two samples produce different estimation. The study is based on secondary data, which is collected from, â€Å"State Bank of Pakistan†, company’s annual reports, business recorder and from â€Å"Karachi stock exchange†. Following S. Kheradyar et al, (2011) this study includes stock returns as dependent variable while dividend yield, earning yield and B/M ratios has been taken as independent variables. 4. Measurement of Variables 4. 1 Stock Return Following Lewellen (2001) and S. Kheradyar et al, (2011) we have used stock return as dependent variable. Stock return is measured by dividing capital gain along with dividend per share on market price per share. Following is the formula for stock returns. SRi = DPs + capital gain/market price 4. 2 Book to Market Ratio For finding value of company by comparison of market value of a share to its book value, study tends towards book to market ratio. For finding book value of a firm the study divide equity of a firm by its total number of outstanding shares. As for market price is concerned study tend towards the ongoing price of share in stock market. If a firm offer high return and having high book value than its market value, the firm is riskier and in future returns of stock will be lowered than today. The following formula is used for calculating book to market value: B/M = Book Value per share Market value per share Lewellen (2001) states that as compare to P/E ratio B/M has higher predictive power for predicting stock return. But when study compare B/M ratio with dividend yield than dividend yield is good forecaster than B/M ratio. 4. 3 Dividend yield Following S. Kheradyar et al, (2011) second independent variable in this study is Dividend yield which is calculated as dividing dividend per share on market price per share. If market price is lower than dividend yield will be higher and give a riskier signal for investment. Contrast to higher dividend yield is low dividend yield; such happen when market price per share is higher than dividend yield and gives an optimistic view for investment. The following formula demonstrates how to calculate dividend yield: Dividend Yield (%) = (Dividend per Share / Market rate per share) x 100 4. Earning Yield The empirical literatures lay foundations of the predictive power of earning yield on stock return, and find out the association between earning yield and stock return is considerable, because earning yield plays as a risk factor in relation with stock return. Moreover, the earning yield can demonstrate the efficiency of market that has an important role in emerging markets, thus this study uses earning yield as the empirical predictor of stock return. Following S. Kheradyar et al, (2011) we have measured earning yield as earning per share divided by price of share. 5. Regression Model In this research article we have investigated three financial ratios EY, DY and B/M to determine whether they predict stock returns. This research study has used the stock return and the above mentioned financial ratios association at 3 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 10, 2012 www. iiste. org two samples as the foundation for the formulation of Eight hypotheses. On the grounds of their appropriate regression models the eight hypotheses are divided into two sets. In this study we have used the two models of simple nd multiple regressions to apply Predictive regression; it is an important tool for predicting stock returns. A set of panal data is used for the formulation of these two models. For tackling the problem of heteroskedasticity and non-normality distributed residuals, we applied generalized least squares method. Following S. Kheradyar et al, (2011) we have used panal models to formulate predictive regressions. Hence we have used simple regression model to test the first 6 hypothesis which are formulated on the basis of association between each financial ratio and future stock returns. The simple regression model has the following form: SR it = ß0 + ßi Xi (t-1) + eit Where, SR it= in time period t, the return of ith stock, ß0= the estimated constant, ßi= ith stock predictable coefficient, Xi (t-1) = in period t-1 financial ratios of the ith stock, eit = error term. Similarly following S. Kheradyar et al, (2011) we have used multiple regression model to test the other two hypotheses H7 and H8, these two hypotheses are formulated on the basis of relationship between combined financial ratios and future stock returns. The model has the following form: SR it = ß0 + ßi1 DYi (t-1) + ßi2 EYi (t-1) + ßi3 B/Mi (t-1) + eit Where, SR it= in time period t, the return of ith stock, ß0= the estimated constant, ßi1= for DY the Ith stock predictable coefficient, ßi2= for EY the Ith stock predictable coefficient, ßi3= for B/M the Ith stock predictable coefficient, DYi (t-1) = is ith stock DY factor in period of time t-1, EYi (t-1) = EY factor of ith stock in period of time t-1, B/Mi (t-1) = B/M factor of ith stock in t-1 time period, eit = error terms. 6. Results and Discussion For the first 6 hypothesis the predictive regression results are summarized in Table 1. The coefficient of dividend yield in Table 1 demonstrates a positive relationship of dividend yield in period (t-1) and stock returns in period (t) in both samples that is when dividend yield increases by one unit it will cause an increase of 0. 021 and 0. 010 units in stock returns of two samples respectively. As for the p-value of coefficient of Dividend yield is concerned it is 0. 016 in sample one which is less than 0. 5, so the relationship is statistically significant and the null hypothesis H1 is rejected, however in sample two the association is insignificant so hypothesis H4 cannot be rejected. The coefficient of earning yield in Table 1 demonstrates a positive relationship of earning yield in period (t-1) and stock returns at period (t) that is when earning yield increases by one unit it will cause an increase of 0. 013 and 0. 008 units in stock returns in the two samples respectively. As for the p-value of coefficient of earning yield is concerned it is 0. 19 and 0. 010 in the two samples respectively which is less than 0. 05, so the relationship is statistically significant, therefore we will reject hypothesis H2 and H5. The negative coefficient of Book to market value in table 1 notifies an inverse relationship of B/M and stock returns in both samples that is if B/M ratio increasing the stock return will be decreasing and vice versa. The p-value of coefficient of B/M value 0. 000 indicates that the relationship is statistically significant in both samples, so hypothesis H3 and H6 have been rejected. S. Kheradyar et al, (2011) found that DY has negative influence on stock return, and a positive association between EY and stock return. He also found a positive impact of B/M on stock return in (2) (1) 4 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 10, 2012 www. iiste. org sample 2 but a negative one in sample 1. It can also be noticed by looking at the adjusted R-square that B/M has the highest predictive power, and this result is also supported by S. Kheradyar et al, (2011). Insert Table 1 Here) Now we will test to see whether stock return predictive power increases with the combination of EY, B\M and DY. We will reject H7 and H8 because it can be seen in Table 2 that the predictive regressions are statistically significant. Thus we can say that stock return can be predicted by the combination of EY, B\M and DY. Also we can say that as compare to the other two ratios, the variations of the ratio of book to market has greater i mpact on stock return, because in both samples it has the highest coefficient. Similarly by looking at the adjusted R-square we can say that in the two samples stock return predictive power increases when the combination of EY, B\M and DY increases. (Insert Table 2 Here) 6. Conclusion Literature regarding predictability of stock returns has changed over the last 20 years. With evolution researchers and economists separated price to earnings ratio, dividend yield, inflation, and book to market ratio, beta, industry returns, interest rate, and size of firms from amongst other variables which were considered important for predicting return of stocks. Presently strong evidences are present regarding variables for predicting stock returns. Analysis showed that financial ratios have significant power of predictability for forecasting returns of stock and they predict future stock return of Pakistani market, and B/M has higher predictive power as compare to other ratios. Similarly the predictability of stock return is enhanced by the combination of financial ratios. References A. Schrimpf, (2010). International Stock Return Predictability under Model Uncertainty. Journal of International Money and Finance, 29: 1256-1282. S. Kheradyar, I. Ibrahim, and F. Mat Nor, (2011). Stock Return Predictability with Financial Ratios. International Journal of Trade, Economics and Fiance, 2(5): 391-396. J. Y. Campbell, and R. J. Shiller, (1988). Stock Prices, Earnings and Expected Dividends. Journal of Finance, 43(3): 661-676. Chan, L. Hamao, Y. Lakonishok, J. (1991). Fundamental and Stock Returns in Japan. The Journal of Finance, 17391764. Mukerji, S. Dhatt, M. Kim, Y. , (1997). A Fundamental Analysis of Korean Stock. Financial Analyst Journal, 53: 7580 Kothari, S. P. , Jay A. Shanken, (1997). Book-to-Market, Dividend Yield and Expected Market Returns: A TimeSeries Analysis. Journal of Financial Economics 44: 169-203. J. Pontiff, and L. Schall, (1998). Book-to-Market Ratios as Predictors of Market Returns. Journal of Financial Economics, 49: 141–160. Lewellen, J. , (2002). Predicting Returns with Financial Ratio. National Bureau of Economics Research, MIT working paper no. 4374-02 Ang, A. and Bekeart, G. , (2006). Stock Returns Predictability. The Review of Financial Study, 651-707. E. F. Fama and K. French, (1992). The Cross-Section of Expected Stock Returns. Journal of Finance, 47: 427-465 Lewellen, J. , (2001). Predicting Returns with Financial Ratios. Journal of Financial Economic, 209-235. How to cite Financial Ratios and Stock Return Predictability, Papers

Effective Managemen Practices of Bow Valley College †Free Samples

Question: Discuss about the Effective Managemen Practices of BVC. Answer: Introduction In the modern era,effective management practices play a very important role in success and growth of an organization(Wheelen Hunger, 2017). Furthermore, appropriatemanagement supports in carrying out the smooth flow of all operations and attain the desired objectives(Chmiel, Fraccaroli, Sverke, 2017). The present research report is based on Bow Valley College (BVC) which was founded in the year 1965 in Canada. The study highlights vision and mission of the selected college. Apart from this, a purposed organization structure for BVC is also mentioned in the present research report. Vision and mission of BVC The vision of Bow Valley College is to become the leading innovative college in the world. Furthermore, its vision emphasizes on delivering quality education which can help students to learn better living and live a better life in future (Comprehensive Institutional Plan - Bow Valley College, 2012). On the other side of this, the mission of BVC is to contribute to overall development of community and economy through its innovative adult education programs. Resources which BVC have to support its vision and mission In the present scenario, every company requires adequate human, technological and financial resources to achieve its goals and objectives(Rees Smith, 2017). It can be stated that BVC has adequate resources which support the organization to attain its mission and vision statement. Here, the organization is available with talented, qualified and skilled faculty or teaching staff who impart quality and innovative education to all students. On the other side of this, the organization is also possessing adequate technological resources to deliver education and other related services. Wireless internet, classroom computers, data projects are some technological tools which the college is using. All the mentioned above resources support BVC in delivering quality education and accomplish its mission and vision. BVC competitive advantage Nowadays the competition among universities and colleges in the country has become highly intense, and it is not easy for colleges to sustain in the long run (Naranjo-Valencia, Jimnez-Jimnez, Sanz-Valle, 2016). Furthermore, colleges and universities also face issues linked with attracting and enrolling the desired number of students in a particular academic year (Bolman Deal, 2017). However, it can be argued that there are certain strategies which help the college to gain the competitive advantage over other organization in the marketplace. For example, BVC focuses on delivering niche education programs, and it helps the college to get an advantage over others. Experience and supportive teaching staff is another factor which provides the competitive advantage to BVC. Apart from this, BVCs core values such as respect for diversity, learner centered approach, integrity; concern for people also contributes a lot in getting an advantage over other universities. Target student for BVC The college has mainly targeted adults who belong to different economic, cultural, social, geographical background. The programs and teaching strategies are also developed in such a way that the target students do not have any sort of inconvenience while learning. Apart from this, international learners, disabled learners, employed, underemployed personnels are also targeted by BVC. Purposed Organizational structure Organizational structure can be defined as the term which is used to define the allocation of task, power, and authority within a business enterprise. Furthermore, horizontal and vertical are the two common types of structures which are used in colleges and universities (Gelfand, Aycan, Erez, Leung, 2017). For a college like BVC, the horizontal organizational structure is more suitable and effective. Mentioned below is the proposed organizational structure for BVC Rationale behind proposed structure The main reason behind proposing horizontal organization is that it uses an employee centered approach to leadership. It means the use of mentioned above structure will support BVC in encouraging views and opinions of workers at the time of drafting policies and strategies. It can be stated that considering the view of staff members will also result in developing the sense of satisfaction among teachers and will contribute to overall academic success (Holmlund, Kowalkowski, Biggemann, 2016). On the other side of this, the horizontal organizational structure is more suitable for BVC because it will promote team work within the college and thus, will help in an accomplishment of all objectives. The college will be able to develop a high level of the corporation within all its departments by making use of the horizontal organizational structure. Other than this, the suggested structure will also enhance the overall motivational level and productivity of teaching staff by providing a hi gh degree of job satisfaction among them. Conclusion From the above carried out research report, it can be concluded that factors such as skilled teaching staff, values and focus on niche teaching programs have resulted in providing the competitive advantage to BVC. Furthermore, it can also be inferred that horizontal organizational structure is more suitable for college such as BVC as it offers the high degree of satisfaction to staff members and thus, will contribute to long term growth of the college. References Bolman, L. G., Deal, T. E. (2017). Reframing organizations: Artistry, choice, and leadership. New York : John Wiley Sons. Chmiel, N., Fraccaroli, F., Sverke, M. (2017). An Introduction to Work and Organizational Psychology: An International Perspective. New York: John Wiley Sons. Comprehensive Institutional Plan - Bow Valley College. (2012, May). Retrieved August 1, 2017, from bowvalleycollege ca website : file:///C:/Users/Admin/Downloads/BVC_CIP_forWEB_v4%20(1).pdf Gelfand, M. J., Aycan, Z., Erez, M., Leung, K. (2017). Cross-cultural industrial organizational psychology and organizational behavior: A hundred-year journey. Journal of Applied Psychology , 514. Holmlund, M., Kowalkowski, C., Biggemann, S. (2016). Organizational behavior in innovation, marketing, and purchasing in business service contextsAn agenda for academic inquiry. Journal of Business Research , 2457-2462. Naranjo-Valencia, J. C., Jimnez-Jimnez, D., Sanz-Valle, R. (2016). Studying the links between organizational culture, innovation, and performance in Spanish companies. Revista Latinoamericana de Psicologia , 30-41. Rees, G., Smith, P. (2017).Strategic human resource management: An international perspective. New York: Sage. Wheelen, T. L., Hunger, J. D. (2017).Strategic management and business policy. New York : Pearson.

Human Resorce Mangement Essay Example

Human Resorce Mangement Essay The Changing Role of Human Resources Management According to Hollenbeck, Gerhart, and Wright, human resources management are the policies, practices, and systems that influence employees’ behavior, attitudes, and performance (2007, p. 2). The role of human resources management within businesses has been evolving since the 1950s. These changes have brought about a significant increase in competition along with the awareness that human resource management must play a larger part of the strategic role within every company (Tyson and Fell, 1995).The following paragraphs will discuss the changes that have taken place in human resources management due to transformations and trends in globalization technology, diversity, e-business, and ethics. Affects of Globalization, Technology, and E-Business Businesses around the world have not been able to escape the process of globalization and technology. This process has forced many businesses to turn to international markets to remain competitive. This means many new objectives for the human resources department.For example, the outsourcing of labor, training new employees globally, the possibility of new positions, and the creation of new global policies. However, along with these new objectives comes new challenges, such as trying to create a consistent corporate culture, creating a multicultural human resources team, and the potentially complicated responsibilities of multiple-currency payroll, multi-country dispersion, diverse jurisdictional tax legislation, and health care benefits and coverage (Bryant, 1997).Fortunately, these additional complications bring new technologies. We will write a custom essay sample on Human Resorce Mangement specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Human Resorce Mangement specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Human Resorce Mangement specifically for you FOR ONLY $16.38 $13.9/page Hire Writer New self service and online employee tools, more efficient recruiting options via the Internet, and more secure containment of personnel records are only a few of the new technologies. Globalization and technology has also produced e-learning and e-negotiations for offices overseas. Nowadays, a business meeting can be held between two different international companies with the use of videoconferencing; no travel is required.Important personnel documents and reports can be shared by the click of a mouse via e-mail. New technology has also created many more job opportunities for individuals with physical disabilities allowing them to become a part of the workforce. Changes in Diversity Globalization and international business creates a larger pool of diversity within companies. More communication and interaction is taking place between people of different cultures, who speak different languages, communicate differently, and have different beliefs.Diversity can bring more creativity and ideas to a business and its departments, improved marketing opportunities, and better recruitment opportunities. Human resources management will also be faced with diversity challenges. Radical changes in workforce demographics mean that organizations need to develop knowledge and understanding of how to manage a diverse workforce that includes large percentages of blacks, Hispanics, Asians, and women (Schuler and Walker, 1990).This means managers may be confronted with discrimination and prejudice complaints which in return can lead to more turnovers. There is also a potential for more hiring discriminations among management. Learning how to create a neutral corporate culture, implementing ongoing awareness trainings, and working to create a thriving diverse workplace are all key issues human resource managers should focus on. Ethics The topics of globalization, technology, and diversity discussed above all have affects on ethics.Human resources management are confronted with many more cases of right versus wrong. These cases can involve globalization and technology where employees have more confidential personnel information at their fingertips or access to bank accounts and transfers. Increases in diversity allows more issues to arise where a manager favors Caucasians over Hispanics because of personal prejudices. Sexual harassment doesn’t take place in only verbal form these days. Harassment can occur through email and text messages.The ever changing human resource function is now filled with more complex and intricate issues revolving around ethics which management must deal with on a daily basis. Conclusion While globalization, technology, e-business, and diversity bring more positive opportunities to any size business, but human resources management must have a more complete and well rounded strategic plan to deal with each facet successfully. To be successful, organizations will be required to make considerable investments in their HR capabilities (Oss, 2004).This does not only mean money, but also time and commitment. Embracing change and being more receptive to employees and their needs are also important issues for human resources. Happy employees bring more potential and growth to every company.

Weighing In Essay Essays

Weighing In Essay Essays Weighing In Essay Essay Weighing In Essay Essay In Essay Racism has repeatedly played a controversial role throughout the course of history. This is a topic fueled by the heated arguments of the parties on both ends of the matter, may it be the cry of the victim or defense of the offender. As described in the works of two members of ethnic minorities coping With the alienation they both faced in what is supposed to be the land of diversity, Froze Dumas The F Word, and Brent Staples Black Men and Public Space, racism is portrayed as a dark shadow cast upon those who may not me to conform to the norms of western culture to the typical American. Such stereotypes and predispositions should not hold the power to classify and simplify human beings to one single standard of a certain background, as one single Story or idea does not define an entire mass Of people. In Froze Dumas The F Word, she describes her life growing up as an Iranian in America. From the very beginning of her transition into western society, Dumas was exposed to the ugly world of racism at the tender age of seven, an idea almost too outlandish to even entertain. The idea that children t such a young age could feel the need to alienate someone due to unfamiliarity shows that indifference to foreign culture and background can begin at almost any age. She writes that her cousin was named Forbad, a respectable Iranian name meaning greatness, but in a land filled with Joeys and Mars, this was completely alien to his peers, resulting in his nickname Forehead. Similarly, her brother, Fairish, meaning he who enlightens became known as Farthest. A friend of Dumas sounded too similarly to an African American slur and her brothers name reminded those of a skin indention. These children earned themselves such vulgar names solely due to the fact that they were raised and named accordingly to their culture, something that should never be disrespected or looked down upon as abnormal just because it is uncommon. When she reached the age of twelve, Froze opted for an American middle name, understandable for a young girl bearing the pressure of her surroundings, yet unacceptable for her to feel pressured to do so in the first place. She explains that she regrets this decision as it only complicated her life in the long run, even though it seemed o be a quick fix to her problems at the time. She had always received incredulous glares or horribly executed pronunciations, many without even a hint of actual effort in attempting to properly address her, a sad but common occurrence for those who are not often exposed to foreign cultures. Dumas finally settled on the name Julie and even introduced herself to her next-door neighbor using her new name. Her brothers even made fun of her for wanting to Americanize herself, who then later became Fred and Sean. In college, she did away with Julie and went back to her old name, but found that applying for jobs was a more successful venture when she used her American name, interestingly enough. Once she got married, it was almost as if she was living a double life, with family calling her Froze and most friends referring to her as Julie. This prompted her to permanently go back to her original name, forcing herself to cope with the mispronunciations and comments, which she simply now finds humor in. It is a huge relief that Dumas ended up referring to herself by her original first name, as dont feel that she should have ever felt pressured into conforming to the standards of stern culture and trying to Americanize herself. The fact that simply changing her name from Froze to Julie on job applications is mind blowing, as it is clearly not her credentials or talents that are being considered, but her American name. I appreciate that Dumas was able to come to the realization that although her American name would often allow her more job interviews and less of an intense reaction in every day life, her original Iranian name was part of her struggle growing up as an immigrant in America and was a better telltale of her story than Julie would ever be. Rather than being another Joe or Mary, people would just have to adjust to her, not the other way around. Similar to Dumas struggle in America as an Iranian, Brent Staples Black Men and public Space details the struggle of being a black man in America. There are countless stereotypes implanted in the minds of Americans of the typical black person, aggressive, dishonest, ruthless, and overall ill intentioned. The first encounter with this racist outlook on blacks Staples had was in a wealthier area of downbeat Chicago, who began to appear irksome and soon after proceeded to run from the author, who had done nothing intentionally to provoke fear in her. I agree that women should always place their safety as their first priority and should remove themselves from any situation in which they find themselves uncomfortable or at risk, but if blacks and whites cant manage to walk the same streets without one race thinking the other is going to attack at any given moment due to the misconceptions floating around in their heads, then America really isnt a land of diversity. It then becomes a land of hierarchy. As he says, Staples is too scared to even wield a knife at a chicken, let alone wield a knife at another human being, but by the color of his skin and appearance, one would never know this. Being perceived as dangerous, he writes, is a hazard in itself, and could easily land him in the back of a police car simply due to the stereotypes of the black man. Staples understands that women are vulnerable in situations involving street crime, and that blacks have a tendency to be the offenders in such situations, yet this is no excuse for the complete isolation teen blacks and whites that occurs on an everyday basis. He recalls a fascinating incident in which police attempted to arrest a black journalist whom they mistook for the murderer, further proving that many will forever have these misconceptions that almost all blacks are violent by nature. On late nights now, Staples finds himself whistling classical music, as he explains that many do not seem to think that a typical, violent black man would ever be whistling Beethoven or Vivaldi, which is one of the saddest parts of this story. It is almost disgusting to me that blacks and minorities in general feel he need to prove themselves to American society by doing White things. It is often understandably easier to do so and conform to western ways, but it is never necessary because one should not ever be ashamed of their background. No single story or stereotype or standard defines a human being. That persons actions, impact on the world, and the lives they touch are what define them. America, the land of the free and the home of the brave, is often an image of hopes and dreams and opportunity for those who wish to create better lives for themselves, yet the stereotypes people tend to hold of each racial aground impede any sort of progress in continuing to paint America as this beacon of hope. Racism not only simplifies humans to one single story, but almost dehumidifies a person, as well, looking past their traits and qualities and defining them as where they come from and what their culture is. It is necessary to learn that what society may deem normal to us is not necessarily normal to others, and rather than one party adapt to the other or furthermore alienate one another, we must begin to respect and not reject the diversity which surrounds us.

International Trade Operations in US Essay Example | Topics and Well Written Essays - 1500 words

International Trade Operations in US - Essay Example According to the study findings international buyers who do not have US dollars as their local currency would have to go through the cumbersome process of having to convert their currencies to US dollars whenever they want to do business with you. The excesses in the procedure may just be one reason that someone may prefer other competitors to you. Again, the differences in exchange rate between the local currencies of international buyers and the US dollars will cause price flatuations. It is very likely that the price of good for each particular day will have to change because of changes in exchange rate. This, according to Gibbons creates currency swing, where by the customer may have to build in a 10-15% "adverse currency swing" factor. Conversely, quoting the US dollars may be very desirable when dealing with buyers who already deal in US dollars. It is common k knowledge that a lot of buyers around the world today are into the use of the US dollars. This is because it ensures u niformity in quantum price of goods and products. Again, quoting in US dollars very advisable for smaller companies with limited human resource as Gibbons, notes that â€Å"you may not have the ability to assume the currency risk, the currency exchange costs and the effort needed to run pricing in local currency.† Regarding quotation of prices in local currencies, once prices are quoted in local currencies and not in US dollars for international buyers, whose local currencies are not the US dollars would not have to create any price hedge to cater for the prices of goods. This is a major advantage for dealing with international buyers. This is because the duty of having to convert prices into US dollars and also having to go through the exchange processes, which sometimes attracts extra cost from banks would all be avoided. In would be observed that because pricing in US dollars creates price fluctuations, local buyers are often forced to hedge for the price of goods so that they will not have to be changing their expenditures so often. The converse demerit with pricing in local currency is that there would have to be a different price of same goods when they move from one country to the other. In this case, it is likely that by the time all sales are completed and the seller converts his earnings back to a common currency, there may be some little price falls because of the differences in US dollar rates in different countries (Colacito and Croce, 2011). Rate parity theory and how it is used to predict future exchange rates According to Forex Karma (2010), â€Å"Interest Rate Parity (IPR) theory is used to analyze the relationship between at the spot rate and a corresponding forward (future) rate of currencies.† The theory operates on a number of principles that makes it possible to predict future exchange rates. First, Picardo (2012) writes that â€Å"the basic premise of interest rate parity is that hedged returns from investing in different currencies should be the same, regardless of the level of their interest rates.† This means that future predictions of exchange rate can be made if returns on rate hedging remain constant. This is because in such as situation, both the exchange rate and interest rate do not have any influence on one another. The second has to do with the quote rates of interest rate and currency rates. This is because

Economy and Telecommunication Networks Essay Example | Topics and Well Written Essays - 250 words

Economy and Telecommunication Networks - Essay Example TDF has its disadvantages too in that division of labour leads to greater interdependency thus developed countries like the US allow and favor free flow of information to ensure management and coordination of other countries (Kamalipour, 2007). Therefore, TDF leads to developed countries controling the developing countries because of heir overreliability to their countries. Secondly according to Sawhney, ‘industrielaizedcountries take a disappropiate share of the additional wealth produced by specialization and leave the ordinary workers poorly compensated for their contribution’ (Sawhney, 1998). Lastly, TDF also leadsds to developed countries using it as a means to challenge local authority in third world countries. The most interesting issue in this book is the division of labour. This is issue is most interseting because in my view, this is where it all began. This is root cause of telecomunications data flow and other technologies. It is amazing how in the past business people could achieve produciton succesfully while using all locally available raw materials and complete a product from scratches. It is also pitiable that products that could be easily transported were only light high value goods like silk, which furthermore could only be afforded by the rich. Indeed division of labour has changed the world in that common people can affrod foreign producst . Moreover, division of labour has increased production rate, and enhanced specialization which has further led to quality due to experience, while also cutting on

Self Confidence And Leadership

Self Confidence And Leadership Purpose The purpose of this study is to test empirically whether a relationship exists between self confidence and leadership, with self efficacy as a mediator. This effect is studied with respect to gender differences among the sample population. Design/methodology/approach An online questionnaire was administered to students of XLRI, Jamshedpur. The questionnaire measured the students on various parameters like self confidence, self efficacy, and leadership quality. Gender differences were also recorded for the same. Findings There is a significant relation between self confidence and leadership of an individual, with self efficacy fully mediating this relationship. Also, it was seen that gender plays an important role in defining the leadership among management students. Research limitations/implications Only management students of a B-school were taken as sample. Also, this study administered a structured questionnaire with cross-sectional design. Future research is required on various other parameters that effect leadership quality of an individual. Practical implications The research is carried on management students. Hence, it is expected to act as a guide for organisations in determining the effectiveness of future managers with respect to co-relation between levels of self confidence and their display of leadership behaviour. Originality/value This paper studies the direct effect of self confidence and indirect effect through self efficacy on leadership quality among students of a B-school and how gender differences affects this relationship model. This model, though earlier studied in parts will now be researched upon in totality. Keywords Self confidence, Self efficacy, Leadership, Gender, XLRI, Jamshedpur, India Paper type Research Paper Introduction Leadership has become an important determinant managerial ability. Leadership has been defined as the ability to execute, organize, communicate, motivate and inspire. Several approaches have been proposed for the assessment of leadership ability. These range from specific theories of leadership, such as trait theory, to specific kinds of leadership, such as transformational leadership, to specific dimensions, such as goal setting. However, lately, the best assessment of leadership is on the ability to inspire others through positive exemplary behaviour and through empathetic communication. As such the best description of leadership ability might comprise ability to: Exercise discipline over oneself, demonstrate clarity of thought of life, and possess a well rounded worldview and philosophy on life that combines personal mastery and public interdependence in a benign, non-manipulative way. Display compassion from others point of view, and to truly empathize with others and know their motivations, concerns and preconceptions. Communicate effectively on the basis of an accurate assessment of others perspective and their various levels of drives and motivation. That is, to construct the most appropriate message, and encode and deliver it through language and otherwise in the best way possible so that the recipient has thorough understanding of the idea being communicated. Draw from ones clarity of thought powers of empathy and freedom from vanity so as to assess the situation around him accurately, and to draw a vision of a lofty but attainable future which he considers to be desirable and beneficial to the largest number of people. To inspire large numbers of people towards a common, highly meaningful and motivating goal; guiding and showing them how it is achievable, while facilitating communication at every stage To maintain utmost consideration for, and a personal bond with, the people for and with whom he is working in the process elevating them and making leaders out of them in turn. The above characteristics what a leader is supposed to achieve. However these characteristics are difficult to measure over a short period of time, so alternative methods are use. One such method has been used in this study. Organizations are constantly on the lookout for executives who display these behaviours. As such they are constantly on the lookout for methods which can help predict the leadership abilities of prospective members of the organization. Self confidence is one such measure of leadership abilities (Kaplan, 1986; Popper and Mayseless, 2007). It is considered to be one of the fundamental building blocks of leadership ability and indispensible to leadership success. A person with a high level of faith in himself or herself is likely to be a better executor and motivator. Only a high degree of self confidence can enable a person to make the effort and the choices that go into developing leadership ability. A related trait that is crucial to leadership is self efficacy. The ability to handle adverse situations by taking charge of situations has been found to be determinant of leadership in situations requiring change. This is important because ability to lead positively, empathetically and ethically while facing tough competitive situations requires a belief that one can successfully negotiate such situations without compromising. Furthermore, gender has been an area of focus in study of leadership styles. Studies have pointed out that gender is related to leadership style and performance on various leadership dimensions. Given that leadership abilities of women are expected to draw from somewhat different strengths than men, it can be expected to affect the relationship between self confidence, self efficacy and leadership. Hence we see that there is a need to study the mediating role of self-efficacy in the relationship between self confidence and leadership. Furthermore, given the significant differences found in leadership parameters of men and women, it is important to see how the strength of the relationship between self confidence and leadership abilities is affected by gender. Hence in this study, we seek to study the mediation effect of self-efficacy on the relationship between self confidence and leadership with gender as the moderating variable. Research background and hypotheses Efforts to pinpoint the influences on leadership skills have focussed, for the greater part of the twentieth century, on individual factors such as personality traits and behavioural attributes. In a 1948 literature review, over a 100 studies on trait approach were reviewed and it was found that traits like interpersonal skills, initiative, intelligence and integrity were consistent with leadership capabilities (Daft, 2005). Studies on individual traits have included research on various traits such as honesty, interpersonal skills, initiative etc. Studies have also talked about traits like self-confidence and self-efficacy in relation to leadership (Popper and Mayseless, 2007; Hautala, 2005). This study carries forward these ideas while also attempting to add to knowledge of leadership by studying factors which lead to leadership as well as the way in which other factors moderate this relationship. Self-confidence Self-confidence is a personality trait. One of the most widely accepted definitions of it comes through the Trait Theory of Leadership wherein it is considered one of the most important personality traits used to identify potential leaders (Daft, 2005). If we were to take a more contemporary definition of self-confidence, Merriam-Webster Online defines it as confidence in oneself and in ones powers and abilities. Although there is no singular definition of self-confidence as a construct, a lot of research has been done on the subject and various authors have defined it in different ways. For instance, the reasons for development of self-confidence in an individual have been identified by various authors. Self-confidence may result from a persons belief in whether he or she can performs a task a belief derived from whether or not they succeeded in performing the task in the past (Burns, 1993). On the other hand, self-confidence has also been said to develop in two phases. First, you examine whether you are capable of handling, or have adequate information about, a task and then based on this analysis you decide whether you can handle the task in the present context or situation (Koriat et al, 1980). Self-confidence has most often been linked with the concept of self-efficacy and the two terms are often used interchangeably. Apart from gaining experiential knowledge, a persons self-confidence may also increase through appropriate motivational mechanisms or through reinforcement behaviours (Bandura, 1977). The components of self-confidence have also been studied and they can be divided into internal and external components, ranging from self-love for the former to assertiveness for the latter (Lindenfield, 1995). There are also certain general behavioural indications, which have been linked to self-confidence as components or attributes, viz. a persons air of assurance and the fact that his entry or exit from a space is considered to be of note (Goleman, 1998) In an analysis of self-confidence as a concept, we can find those attributes, which are most representative of self-confidence as a stand-alone concept. These attributes include belief in positive achievements, persistence and self-awareness all of which our questionnaire attempted to capture (White, 2009). Personal characteristics such as willingness to take initiative, effectiveness, self-esteem etc. have also been variously linked to self-confidence (Kacmar and Young, 1998; Pool and Sewell, 2007). Self-confidence measures have, for the most part, continued to measure the attributes mentioned above. However, some new scales to measure it have been developed in recent years, mostly for use in specific professions. The Self-confidence Attitude Attribute Scale was developed to measure the ability of students as well as the amount of work they are willing to perform in order to succeed (Nokelainen et al, 2007). A new measure, the Perceived Self-confidence Scale was also developed for n urses in order to gauge the correlation between willingness to take up managed care and perceived self-confidence (Hayes, 2003) Self-efficacy Self-efficacy is also a construct related to personality and was first developed as part of a study on behavioural change (Bandura, 1977). It was initially defined in terms of an element which helps in development of learning abilities, especially for social or cognitive skills. The concept gained currency over the years and may now be defined as the conviction that one can act in accordance with certain predetermined norms and that such actions will lead to the successful achievement of objectives (Ormrod, 1999). It can also be defined as the belief that our actions can have a modifying effect on the environment and, hence, bring about changes or achieve goals (Steinberg, 1998). Elsewhere self-efficacy, especially among students has been examined and has been described as being capable of imagining oneself achieving a goal completely or as far as one desired to achieve it (Smalley, 1998). It has also been described as, simultaneously, an influence on and a result of socio-cultural n orms and ethnic background (Pajares, 2002). As mentioned above, a similarity of concepts has often led to self-efficacy being used interchangeably with self-confidence. This is also true in the case of efficacy, self-esteem and self-concept. Efforts to distinguish efficacy from self-efficacy have focussed on the fact that efficacy represents actual ability whereas self-efficacy represents a belief in ones ability to accomplish a goal in a designated manner (Sue et al, 2005). The sources which lead to self-efficacy as well as the factors which impact it have been divided under four broad headings learning derived from experiencing something in the past; learning from or comparing oneself with others; persuasion from social relations or even institutions and finally, our reactions to the physiological changes within us during specific situations (Bandura, 1977). Self-efficacy also has certain consequences on behaviour. For example it leads to greater effort and increased focus on ach ievement of goals (Schunk, 1990). It may also make one more competent in generating enthusiasm and motivation for a task (Gonzalez et al, 1990). On the other hand, low self-efficacy could also lead to the reverse, i.e. low competence due to lack of belief in oneself (Pajares, 2002). Self-efficacy, apart from being linked to the above-mentioned constructs (with which it is frequently interchanged), also has an impact on the way we think and act, our thought patterns and behaviour (Bandura, 1977). In order to define self-efficacy or to apply it to their research, theorists and researchers began to devise new ways to describe and measure the construct of self-efficacy. Initially self-efficacy was primarily measured on the General Self-Efficacy Scale (Scherer et al, 1982). However, more recently, apart from the universally accepted scales such as the Generalised Self-Efficacy Scale (Jerusalem and Schwarzer, 1995), other scales have been developed, such as the Scale of Perceived Social S elf-Efficacy (Betz and Smith, 2000). The latter was developed to measure self-efficacy expectations in the context of actions taken or behaviour demonstrated in social situations. There were six sub-factors to self-efficacy, in this scale, and they included performance in public situations as well as social assertiveness. These scales have also been modified according to the needs of the research (Matsushima and Shiomi, 2003). Leadership Leadership has been identified in various forms over the years. It has alternately been considered a combination of traits, of behaviours, of contingency actions etc. It can be defined as the process by which an individual encourages others, or works with others, to achieve certain shared goals (Chemers, 2002). Over time this definition has become more expansive and now includes the interrelationship between the leader and his followers. Leadership as a construct has evolved over time and this evolution can be divided into six broad types of leadership theories (Daft, 2005). The Great Man Theory of leadership defined it as inherent ability which set apart one man from the rest and he was recognised as a leader while the Trait Theory, which was in currency for nearly half a century, tried to identify those traits which can be influencers or predictors of leadership ability (Robbins, 2008). Other theories have included study of leadership behaviours, leaderships impact on followers, le adership actions to be taken in emergency, interrelationship between leadership and change etc. (Yukl, 1981). ). Leadership or leadership quality (which has been used as a construct in our survey and our research) has also been defined in terms of the people orientation and task orientation of individuals (Hemphill and Coons, 1957; Likert, 1979; Blake and Mouton, 1985). The reasons for leadership definitions being focussed on these two dimensions are the importance of both to the organisation as well as the fact that the presence of both, in an effective leader, is necessary. Irrespective of whether the two orientations are displayed simultaneously or at different situations, it is clear that extensive research has determined them to be present in successful and admired leaders (Fleishman and Harris, 1962). The various constructs which have been related to leadership over time include emotional intelligence and social intelligence (Goleman and Boyatzis, 2008), integrity and self-con fidence (Trait Theory) and other more elusive constructs such as charisma (Influence Theories). There has been a great deal of empirical evidence over the years to suggest that leadership is affected by self-confidence (Bass, 1985; Popper, 2004 etc.) and also by self-efficacy (Bandura, 1977; Paglis and Green, 2002 etc.). Various measures have been developed over the years to capture the elusive and ever-changing construct of leadership. Some of the scales developed in the last decade included the Revised Self-leadership Scale (Houghton and Neck, 2002), revisions to existing scales on Leadership Scale for Sport and Athlete Satisfaction Questionnaire (Nazarudin et al, 2009), etc. Self-confidence and Leadership From the literature which was reviewed, it was clear that self-confidence was an important part of an individuals personality and, hence, should be an important factor in the development of leadership in him. But, first it needed to be proved that personality has an effect on development of leadership or on demonstration of leadership behaviour. The study of relationship between leadership and personality has found significant interdependence between the two, with self-confidence being an important element of a leaders personality (Hautala, 2005). In one such study personality was divided into four clusters and it was proved that certain types of personality demonstrated greater leadership behaviour (Church and Waclawski, 1998). However, in order to relate the constructs of self-confidence and leadership, more research has been conducted, both empirical and conceptual. While studying transformational leadership through a survey feedback session, it was discovered that one of the important personality components, for those who scored high on leadership was self-confidence (Bass and Riggio, 2006). Similarly a study on the building-blocks of leadership development, has also shown that self-confidence was the most evident variable when it came to determining ability to lead others (Popper and Mayseless, 2007). When it comes to leadership in a business environment, there is ample research to suggest that business leadership is also dependent, to a great extent, on self-confidence. For instance, there has been research on managerial self-confidence and organisational change. The study attempts to formulate a new concept of self-confidence, which can lead to better managerial performance in terms of leading an orga nisation towards change (Bowman, 1999). The current economic environment requires a new set of business leaders with new ideas and a confident leader as well as earning confidence through respect is an important means of achieving success (Darling and Nurmi, 1995). A profiling tool on public sector managers had also discovered a lack of leadership confidence among them, which affected their ability to provide inspiration and support to subordinates and colleagues (Women in Management Review, 2007). Entrepreneurship can intuitively be considered a direct firm of leadership and studies have demonstrated that among MBA students (our sample), higher self-confidence can be statistically correlated with higher levels of entrepreneurship-orientation (Koh, 1996; Turker and Selcuk, 2009). A study on communication in groups has also shown how self-confidence is essential for improved communication (Education + Training Journal, 1960). For prospective managers it, therefore, becomes necessary to develop self-confidence as a means to developing leadership and even communication skills. Self-confidence and self-efficacy As mentioned earlier, self-confidence and self-efficacy are often used interchangeably, primarily due to the similarity of the constructs, which are both dependent on a sense of self-belief. While self-confidence is the belief in ones abilities, self-efficacy is the belief that one is capable of performing a certain task in an expected manner. Studies on either of these constructs tend to focus on the other as well. In a conceptual study on use of these constructs for therapy, self-confidence was advocated for the common man whereas self-efficacy was recommended for use in (Ulmer, 1998). The study felt that self-efficacy had more empirical support as a construct and, hence, self-confidence could be considered a sort of sub-set of self-efficacy, whereby, higher self-confidence would imply higher self-efficacy. The relationship between the two, with self-efficacy playing an important mediating role between self-confidence and effective performance, has also been empirically validated b y another study (Orpen, 1999). Not only are the two concepts interrelated but they can also be used a substitutes for each other for example self-efficacy can be seen as a private form of shoring up faith in oneself, while self-confidence can be seen as the external image we need to present to society in order to succeed It has been suggested that self-confidence can be either a trait or something that is specific to certain situations (Pool and Sewell, 2007). There have also been attempts to redefine these personality traits as contextual concepts so that it would easier to measure them and also to work towards developing them in individuals. It would also be easier to map the exact relation between the two, i.e. how the increase in one leads to increase in the other (Pool and Sewell, 2007). Most attempts at measuring one or the other have culminated in both being measured as a factor of the other. Confidence has been included as one of the six dimensions on the Occupational Self- efficacy Scale (Pethe et al, 1999). Similarly, a study on the Israeli military used the construct of self-confidence as a combination of 3 variables, one of which was self efficacy (Popper et al, 2004). Variants of the constructs have also been found to be related to each other. For example, Social Self-efficacy has been proved to have a high correlation with Social Confidence (Betz and Smith, 2000). Thus, we may say that an increase in self-confidence or high levels of self-confidence is mirrored by correspondingly high levels of self-efficacy. Self-efficacy and leadership It has been seen that high level of self efficacy makes a person better suited for leadership role than a person with a low level of self efficacy. Through the Social Learning Theory, it was demonstrated that leadership development increases with high levels of self-efficacy (Bandura, 1977). Leadership involves being committed to the organisation you work for and self-efficacy at the workplace plays an important role in increasing this commitment (Rastogi and Rathi, 2009). A construct called Leadership Self-Efficacy (LSE) was also designed and the relationship, between LSE and an increase in leadership behaviours, was empirically validated (Green and Paglis, 2002). Studies have not only related individual self-efficacy and leadership but have also shown how increase in a leaders self-efficacy, so far as it pertains to his leadership abilities and job performance, have a positive effect on self-efficacy of the team or group that is being led (Sanchez and Villanueva, 2007). Self-effica cy is also necessary for achievement of stated objectives and the construct has been found meaningful for developing better performances in an organisational setting (Appelbaum and Hare, 1996). Other research has also tried to establish a correlation between self-efficacy at work and the personal traits which can be considered essential for leadership (Schyns and Sczesny, 2010). Career success which could be defined as being able to reach a level of influential leadership is also positively affected by self-efficacy (Ballout, 2009). There has also been an interest in transformational leadership and its relation to self-efficacy for leaders, both male and female (Sanders and Schyns, 2005). For those working in expatriate roles or leading global organisations, self-efficacy has been found to be an important criterion for success (Ang and Dyne, 2006). Self-efficacy also leads to greater job involvement, a prerequisite for effective leadership (Lin et al, 2009). The ability to lead new companies or begin a new venture has been found to be positively affected by high self-efficacy (Alvarez et al, 2006). Self-confidence, self-efficacy and leadership Based on the discussion above, we can say that there is a positive relationship between self-confidence and leadership, self-confidence and self-efficacy and self-efficacy and leadership. But in order to study the relationship between self-confidence and leadership, with self-efficacy as a mediator, further research was involved. The Social Learning Theory was one of the first in establishing a correlation between these three constructs since it showed self-confidence to be an important element of self-efficacy while also establishing its relation with leadership development (Bandura, 1977). Any comprehensive study of leadership as a concept tends to include self-confidence and self-efficacy as two of the most important factors in possessing or developing leadership skills (Conger et al, 1988). Self-confidence and self-efficacy have also been found to influence the thought patterns or actions which lead to leadership development (Popper, 2004). Both self-efficacy and self-efficacy ha ve been shown to have an impact on a persons job capabilities and, hence, ultimately his leadership capabilities as well (Pool and Sewell, 2007). Self-confidence and self-efficacy have also been independently correlated to entrepreneurial leadership abilities and, considering the correlation between the two constructs, one can say that an increase in one would lead to an increase in the other and finally to an increase in leadership abilities (Turker et al, 2008; Alvarez et al, 2006). Attempts to develop future leaders have also shown that increasing self-efficacy and motivating employees to have greater self-confidence are integral to the process (Popper and Lipshitz, 1993). From empirical and theoretical research, the two constructs of self-confidence and self-efficacy have been shown to be related conceptually, since both are dependent on self-belief to a great extent. If we posit that self-confidence has a positive correlation with leadership, then an increase in one should lead to a corresponding increase in the other. However, since self-confidence is related to self-efficacy and self-efficacy is related to leadership, any increase in self-confidence will lead to increase in self-efficacy, which in turn would increase leadership ability. Genders Moderating Role on the Model The definition of gender includes the practices, beliefs and norms, internalised by men and women, with reference to their roles in society. Thus, gender influences individual decision making according to societal expectations. As a sociological entity, it also affects the development of personality and, hence, of traits such as self-confidence and self-efficacy. There has been significant research on how gender affects leadership. The possibility of women attaining leadership roles has been studied with reference to whether a glass ceiling exists and how evaluation of (and by) either gender tends to have an element of bias (Weyer, 2007). There is research to suggest that the types of roles or leadership positions offered to women are often significantly different compared to men (Lantz and Maryland, 2008). The differences in leadership orientation or style, between men and women, have also been studied to identify the varying ways in which they handle change and transformation (Yane z and Moreno, 2008). Leadership effectiveness has been analysed to show that gender differences exist (Chow, 2005). Not only does gender affect leadership but it also has an impact on various abilities and competencies which affect leadership. Studies have shown that women tend to score higher on emotional intelligence, which is generally identified with leadership (Bauch and Rucinski, 2006). There is also a significant difference in the extent to which men and women possess these success-predicting attributes (Hopkins and Bilimoria, 2008). In a study, which is of particular interest to this research, entrepreneurship skills (linked to leadership in the discussion above) were found to be influenced by levels of self-confidence. The self-confidence levels for men and women were qualitatively proved to be different, hampering women in their quest for leadership development and success. Thus, we can say that gender has an influence on the relationship between self-confidence and leader ship. Based on the discussion above, the following hypotheses are proposed: H1. Self-confidence has an impact on leadership quality. H2. Self-confidence has a positive impact on self-efficacy. H3. Self-efficacy has an impact on leadership quality. H4. Self-confidence has an impact on leadership quality by increasing self- efficacy. H5. Gender has an impact on the relationship between self-confidence and leadership quality. Research Model Self-Confidence Self Efficacy Leadership Gender Methods Sample The survey was administered to management students of XLRI of batch 2008-10 and 2009-11. There are total 420 students (294 males and 126 females), out of which 68.03% of the students chose to participate. The response consisted of 127 males and 73 females. Using stratified sampling, 102 males and 58 females were chosen using random number generator. The average age of the sample is around 25 years. The questionnaire was a self-administered questionnaire and it was sent to students using internet. Measure The constructs used here were measured using Likert and Likert-type scale with different range used for different constructs. Leadership quality It is measured using 5-point Likert type scale developed by. A sample item is The more challenging a task is, the more I enjoy it. Self confidence it is measured using 5-point Likert scale developed by Sherer et als (1982). A sample item is I avoid facing difficulties. Self efficacy it is measured on a 4-point Likert type scale using Schwarzer and Jerusalems General Perceived Self-Efficacy Scale (Schwarzer and Jerusalems, 2010). A sample item is If I am in trouble, I can usually think of a solution. Also, gender has been used as a moderator which is a dichotomous variable asking if the respondent is a male or a female. Analysis For the analysis, different methods have been used for different purposes. For measuring the reliability of various constructs the Cronbachs alpha has to be calculated for all the constructs defined in the model. For proving H1, H2 and H3 we are using linear regression model to find out the significance of relationship between the constructs of Self confidence, self-efficacy and Leadership Quality. In order to evaluate the effect of mediator we use the mediator model with multiple regression analysis or MRA which consists of four sequential steps to find out the significance of mediation and the effect of mediation. This analysis supports H4. For evaluating the effect of gender as the moderator, we first do regression analysis between the predictor and the consequent while including only the male gender in the analysis and then we do the same analysis using the female gender. This is done to find out whether gender has a significant role to play on how self-confidence affects leaders hip quality in a person. We use SPSS software to carry out our analysis. Results Reliability: In order to test the consistency of a construct, Cronbachs alpha is calculated. Following are the results for the same. According to some professionals, as rule of thumb, if value of alpha is 0.7 or higher, the construct is considered as reliable. Construct Cronbach alpha Reliability Leadership Quality 0.847 Yes Self Confidence 0.681 Yes Self Efficacy 0.889 Yes Effect of Self confidence on Leadership Quality: This