Important qualities of a good supervisor Essays

Important qualities of a good supervisor Essays Important qualities of a good supervisor Paper Important qualities of a good supervisor Paper Managing a group of people who all have different personalities, abilities and who may or may not interact well with each other is not an easy task and, in my opinion, to be successful you require certain qualities and skills such as: Excellent communication skills. You need to relay instructions very clearly so every part is well understood in order to avoid mistakes. You also need to listen carefully to what your employees tell you. A very good way to make sure someone has understood your instructions is to ask them to repeat everything in their own words. To make sure you have received information correctly, you should say so what you are saying is And repeat in your own words. This simple method avoids many misunderstandings. Fairness. Human beings react badly to what they perceive as unfair. So if you delegate work to others make sure you are scrupulous in allocating pleasant and unpleasant tasks evenly. Good organizational skills are essential. It is your Job to coordinate the work and allocate resources. You should know where everything is and be prepared for the task. Knowledge. Part of the supervisors Job is to train others so it goes without saying that you should be at least one step ahead of them. Accountability. If a mistake is made by one of your team you should acknowledge responsibility every time unless they have deliberately disobeyed your instructions. Efficiency. For your department to work like clockwork you should always have the next task ready to be allocated to the right person so no-one spends any time doing thing. Adaptability. Be ready to manage change efficiently as and when it happens even if you dont agree with it. Social skills. You should be courteous at all times. When you have to tell someone off, it should be done assertively but politely and never in front of other people. Everyone makes mistakes and nobody needs to be humiliated. Shouting at people is not a good idea as they will become resentful and unhappy. You will get more done with a smile than with rudeness. Dont be afraid to praise your team for a task well done. The Diplomacy. As a supervisor you have loyalty to the company who pays your wages but also loyalty to your team who are responsible for your results. A difficult balance which requires a great deal of tact. Self-discipline. As a supervisor, you should inspire respect so discretion in your private life is essential nor can you tell people off for lateness if you are always late yourself. Http://impracticalities. Hubcaps. Com/hub/what-are-the-top-ten-qualities-of-a- supervisor

Thomas Jefferson and the Louisiana Purchase

Thomas Jefferson and the Louisiana Purchase The Louisiana Purchase was one of the largest land deals in history. In 1803, the United States paid approximately $15 million dollars to France for more than 800,000 square miles of land. This land deal was arguably the greatest achievement of Thomas Jeffersons presidency, but it also posed a major philosophical problem for Jefferson.​ Thomas Jefferson, the Anti-Federalist Thomas Jefferson was strongly anti-federalist. Although he participated in the writing of the Declaration of Independence, he did not author the Constitution. Instead, the Constitution was mainly written by Federalists such as James Madison. Jefferson spoke against a strong federal government and instead advocated states rights. He feared tyranny of any kind and only recognized the need for a strong, central government in terms of foreign affairs. He was concerned that the Constitution did not address the liberties that were protected by the Bill of Rights and did not call for term limits for the president. Jeffersons philosophy regarding the role of the central government is most clearly seen when investigating his disagreement with Alexander Hamilton over the creation of a national bank. Hamilton was a staunch supporter of a strong central government. A national bank was not expressly mentioned in the Constitution, but Hamilton thought that the elastic clause (U.S. Const. art. I,  § 8, cl. 18) gave the government the power to create such a body. Jefferson completely disagreed. He held that all powers given to the national government were enumerated or expressed. If they were not expressly mentioned in the Constitution, then they were reserved to the states. Jeffersons Compromise In completing the Louisiana Purchase, Jefferson had to put aside his principles because this type of transaction was not expressly mentioned in the Constitution. Had he waited for a constitutional amendment, however, the deal might have fallen through. With the support of the American people, Jefferson decided to go through with the purchase. Jefferson needed to move quickly when he discovered that Spain had signed a secret treaty with France in 1801 ceding Louisiana to France. France suddenly posed a potential threat to America. The fear was that if America did not purchase New Orleans from France, it could lead to war. The change of ownership from Spain to France resulted in the closure of the ports warehouses to Americans, and it was feared that France would move to cut off Americas access to the port entirely. Jefferson sent envoys to France to try to secure the purchase of New Orleans. Instead, they returned with an agreement to buy the entire Louisiana Territory as Napoleon needed money for the impending war against England. Importance of the Louisiana Purchase With the purchase of this new territory, the land area of America nearly doubled. However, the exact southern and western boundaries were not defined in the purchase. America would have to work with Spain to negotiate the specific details of these boundaries. When Meriwether Lewis and William Clark led a small expeditionary group called the Corps of Discovery into the territory, this was just the beginning of Americas fascination with exploring the West. Whether or not America had a Manifest Destiny to span from sea to sea as was often the rallying cry of the early to mid-19th century, its desire to control this territory cannot be denied. Sources â€Å"Louisiana Purchase, The.†Ã‚  Monticello, Thomas Jefferson Foundation, Inc., www.monticello.org/thomas-jefferson/louisiana-lewis-clark/the-louisiana-purchase/.Mullen, Pierce. â€Å"Financing the Purchase.†Ã‚  Discovering Lewis Clark ®, Lewis Clark Fort Mandan Foundation, Lewis Clark Trail Heritage Foundation, and the National Park Service Lewis and Clark National Historic Trail, www.lewis-clark.org/article/316.

Internet Privacy and Consumer Essay Example | Topics and Well Written Essays - 500 words

Internet Privacy and Consumer - Essay Example Apart from this, with the growth of online technology, companies can now monitor every move of a consumer once the consumer is on the website. Though internet privacy is a major concern to many consumers today, data collection is considered a benefit by online companies. Many consumers are concerned that their personal information is accessed and monitored by different companies. According a poll released by the Consumer Reports National Research Center, 72 percent are concerned that their online behaviors were being tracked and profiled by companies, while 82 percent of consumers are concerned about their credit card numbers being stolen online. A vast majority of consumer want to have control over what information is being monitored by Internet companies and want to have more control on their private information. of information is being monitored. Many companies argue that using data-monitoring and data tracking software is useful in building better products for the consumers. "The definition of the Internet as fully public rather than semiprivate is an important distinction to make since legal opinion tends to be built on the reasonable expectations that individuals have about how their information will be handled" (Cronin 4). Internet privacy is a big concern these days though consumers have had issues with privacy long bef

Social, Cultural and Ethical Dimensions Essay Example | Topics and Well Written Essays - 1500 words

Social, Cultural and Ethical Dimensions - Essay Example The sum of these shared philosophies, assumptions, values, expectations, attitudes, and norms bind the organization together. Truly, organizational culture may be perceived as the manner in which an organization solves problems to achieve its specific goals and to maintain itself over time, it is holistic, historically determined, socially constructed and difficult to change (Hofstede, 1980). Organizational culture has a pivotal role in many companies as they developed new strategies in organizational management. It is a central aspect to many theories and prescriptions of management. However, despite frequent prescriptions to manage culture in diverse national contexts, little empirical evidence has been forwarded in contexts other than the UK and the US (Harris & Metallinos, 2002). Hofstede (1980) emphasized the strong impact of national culture in terms of the regional differences, and the following broad categories are suggested for European organizational models, like Germanic, Scandinavian, Anglo-Saxon and Latin. The members of the organization bring their own individual experiences, beliefs and values. Individuals are allowed in work-groups within the organization have their own behavioral quirks and interactions which, to an extent, affects the whole system. In addition, a In addition, a task culture can be devised; for instance, a computer technician will have expertise, language and behaviors gained independently of the organization that set them apart from their colleagues, but their mere presence can influence the culture of the organization. With all this, the senior management may determine the corporate culture that they may wish to impose corporate values and standards of behavior that specifically reflect the objectives of the organization. Hofstede identified five characteristics of culture in his study of national influences: Power distance - The degree to which a society expects there to be differences in the levels of power. A high score suggests that there is an expectation that some individuals wield larger amounts of power than others. A low score reflects the view that all people should have equal rights. Uncertainty avoidance reflects the extent to which a society accepts uncertainty and risk. individualism vs. collectivism - individualism is contrasted with collectivism, and refers to the extent to which people are expected to stand up for themselves, or alternatively act predominantly as a member of the group or organization. Masculinity vs. femininity - refers to the value placed on traditionally male or female values. Male values for example include competitiveness, assertiveness, ambition, and the accumulation of wealth and material possessions. Long vs. short term orientation On the other hand, corporate organizations in the 1980's have been adopting and installing programs of organizational restructuring and re-engineering. Most of the programs are based on the principles and practices of a widely popular management strategy often called Total Quality Management, participative management or "the learning organization," or some other vernacular title for a program of organizational structural and cultural change (Casey, 1999). These changes were then had been aptly devised in different corporate

Analysis of the Economic and Monetary Union (EMU)

Analysis of the Economic and Monetary Union (EMU) The Geography of European Integration: Economy, Society and Institutions Kourdoumpalou Panagiota Which of the following two sentences is more likely to be correct in your opinion? Present at least two arguments to support your opinion. The establishment of a common monetary union in the EU was a successful step towards deeper European integration. The idea of a common monetary union in EU didn’t take under consideration all the economic aspects resulting in its failure a few years later. Economic and Monetary Union (EMU) represents a major step in the integration of EU economies. It involves the coordination of economic and fiscal policies, a common monetary policy, and a common currency, the euro. The 28 EU Member States take part in the economic union, but some countries have taken integration further and adopted the euro. The decision to form an Economic and Monetary Union was taken by the European Council in Maastricht in December 1991, and was later enshrined in the Treaty on European Union. The Economic and Monetary Union helps the EU in its process of economic integration. Economic integration brings the benefits of greater size, internal efficiency and robustness to the EU economy as a whole and to the economies of the individual Member States. This offers opportunities for economic stability, higher growth and more employment. On January, 1999, 11 of the 115 European Union (EU) countries formed the Economic and Monetary Union (EMU), adopting the euro as their common currency. Since then, in the Eurozone, the European Central Bank carries out a common monetary policy and, to a high degree, bond markets are fully integrated ( European Commission). The creation of the Eurozone was preceded by a gradual regulatory harmonization among European stock markets and the ending of various restrictions on nonresidents, and also by an effort among EU countries to satisfy the Maastricht criteria for joining the Eurozone. The effort to satisfy the Maastricht criteria also led to betterà ¢Ã¢â€š ¬Ã‚ balanced fiscal budgets, which may have led to a â€Å"real convergence† of European economies, that is, an increased synchronization in business cycles across the European economies (Julian Alworth, Giampaolo Arachi, 2008). The introduction of the euro had many advantages. It improved transparency, it standardized the pricing in financial markets, and reduced investors transaction and information costs. Finally, the introduction of a single currency eliminated the currency risk within the EU and reduced the overall exchange rate exposure of European stocks. This factor, together with the nominal and real convergence, should have led to more homogeneous valuations of equities in EMU countries (Gikas A. Hardouvelis, Dimitrios Malliaropulosa, Richard Priestleyd, 2007). One way to evaluate if European stock markets became more integrated during the 1990s is to examine the evolution of the relative influence of EU. When stock markets are partially integrated, both global and local risk factors are priced. There is a possibility of estimating a conditional asset pricing model with a timeà ¢Ã¢â€š ¬Ã‚ varying degree of integration, which measures the importance of EU, wide market and currency risks which are relative to countryà ¢Ã¢â€š ¬Ã‚ specific risk (Gikas A. Hardouvelis, Dimitrios Malliaropulosa, Richard Priestleyd, 2007). Each Eurozone country has its own timeà ¢Ã¢â€š ¬Ã‚ varying degree of stock market integration. The degree of integration is bounded between zero and unity and conditioned on a broad set of monetary, currency, and business cycle variables. These variables estimate the gradual nominal and real convergence of the European economies during the preà ¢Ã¢â€š ¬Ã‚ monetary union period. Among the included variables, the most prominent one is each countrys forward interest rate differential with Germany which was widely used by market analysts as an indicator of the probability that an EU country would eventually manage to join the Eurozone. In the second half of the 1990s, the degree of integration gradually increased to the point where individual Eurozone country stock markets appear to be fully integrated into the EU market. There have been two main factors that driven the increase in the level of integration: the evolution of the probability of joining the single currency and the evolu tion of inflation differentials (Gikas A. Hardouvelis, Dimitrios Malliaropulosa, Richard Priestleyd, 2007). Moreover, economic integration resulted in businessà ¢Ã¢â€š ¬Ã‚ cycle convergence. Crossà ¢Ã¢â€š ¬Ã‚ country return correlations and business cycles are related. Monetary and fiscal policy coordination may have led to increased synchronization of business cycles among EMU member countries, which could have led to increased correlation of expected corporate earnings and more homogeneous estimates of European equities (Gikas A. Hardouvelis, Dimitrios Malliaropulosa, Richard Priestleyd, 2007). In the 1990s there is a process of increased integration of European stock markets to the prospects of the formation of EMU and the adoption of the euro as the single currency. During the 1990s, the degree of integration of each countrys stock market with the EU market was negatively related to both its forward interest rate differential with Germany and its inflation differential with the best three performing countries. Also, the inflation differential was a major indicator of whether a country with a high inflation had the ability to achieve nominal convergence and satisfy a major criterion for admittance into the Eurozone. The process of integration was not easy, but in the second half of the 1990s, stock markets converged toward full integration. In other words, their expected returns became increasingly determined by EUà ¢Ã¢â€š ¬Ã‚ wide market risk and less by local risk (Gikas A. Hardouvelis, Dimitrios Malliaropulosa, Richard Priestleyd, 2007) Concluding, supporting evidence on the hypothesis that the prospect of EMU was the cause behind the observed increase in stock market integration among Eurozone countries comes from two main sources. First, when we observe the experience in the United Kingdom, an EU country that chose not to join the Eurozone, is clearly different than the rest of the European stock markets. The UK market showed no signs of increased integration with the EU stock market. Second, the integration in Europe appears to be a Eurozoneà ¢Ã¢â€š ¬Ã‚ specific phenomenon, which does not rely on possible simultaneous worldà ¢Ã¢â€š ¬Ã‚ market integration. So, now it can be said that the establishment of a common monetary union in the EU was a successful step towards the European integration. It is obvious that the process of integration was not easy, but there was a convergence of the stock markets towards full integration. In other words, their expected returns became increasingly determined by EUà ¢Ã¢â€š ¬  wide market risk and less by local risk. References European Commission, Economic and Monetary Union. [online] Available at: http://ec.europa.eu/economy_finance/euro/emu/index_en.htm Gikas A. Hardouvelis, Dimitrios Malliaropulosa, Richard Priestleyd, (2007). The impact of EMU on the equity cost of capital. Journal of International Money and Finance Julian Alworth, Giampaolo Arachi, (2008). Taxation policy in EMU, Economic Papers 310 1

Discussion of Ias 17 Leases

Advanced Accounting Theory & Practice Assignment: Discussion of IAS 17 Leases Huixuan HUANG Student ID: 500284151 Module Organizer: Colin Bradley Words Count: 1964 words Date of Submission: 17th April, 2012 Discussion of IAS 17 Leases Introduction Accounting for leasing is always being a hot topic. The standard setters of IAS 17 encountered much controversy when they tried to stop charging all lease payments to the income statement.In this essay, firstly, I will point out the key features of the current IAS 17 with its effect on General Electric Company for illustrative example. Then I will analyst the development of IAS 17 and its underling rationale. Finally, the criticisms of the standard will mainly be discussed, followed by the brief debate of proposed new leasing standard. Key features with example IAS 17 aims to prescribe the appropriate accounting treatment and disclosure to apply in leased items such as property, plant and equipment for both lessees (the user) and lessor s (the supplier).First of all, IAS 17 defines a lease as â€Å"an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time† (IAS 17) and then the standard classified a lease as finance lease if â€Å"a lease that transfer substantially all the risks and rewards incidental to ownership of an asset† (IAS 17). All other leases are distinguished as operating leases. It is the most prominent feature of IAS 17.Clearly, the classification of a lease, ignoring the legal form of arrangement, depends on the substance of the transaction instead, which means it concentrate on the â€Å"risks and rewards† linked with ownership rest with either the lessee or the lessor. IAS 17 provides five primary situations in detail as indicators which would normally be viewed as a finance lease. Additionally, the land element and the buildings element should be normally considered separately whe n distinguishing a lease. The minimum lease payments are allocated between the elements of the lease proportional to their relative fair values at the incipiency of the lease.Of course, IAS 17 requires different accounting for operating leases and finance leases. In the case of operating leases, as the lessee does not shoulder the risks and rewards of ownership, the annual leases payment are only recognizes on a straight-line basis over the lease term as an expense through the income statement. However, for finance leases, lessees are required to list leased items as an asset in their financial statements along with a related obligation for future payments to the lessor. It means it is not allowed to leave the leased asset and lease obligation out of the balance sheet.Finance leases must be capitalized in the lessee’s accounts. Take General Electric Company for example. As a lessee in operating leases, GE recognizes the lease payment as an expense on a straight-line basis ove r the lease term. Their rental expense under operating leases is shown as following. Cited from GE Annual report 2011 At December 31, 2011, minimum rental under operating leases for GE and GECS aggregated $2,387 million and$2,119 million, respectively. Amounts payable in the next five years follow. Cited from GE Annual report 2011As a lessor in operating leases, it presents these assets in statements of financial position according to the nature of the asset. The depreciation policy for leased assets is consistent with GE’s normal depreciation policy for similar assets. Lease revenue from operating leases is recognised in income on a straight-line basis over the lease term. GECS revenues from equipment leased to others were $11,343 million in 2011 and$11,116 million in 2010. As IAS 17 requires, under finance leases, GECS recognize assets in balance sheet and present them as financing receivables at an amount equal to the net investment in lease.Its investment in finance lease s includes direct financing and leveraged leases of aircraft, railroad rolling stock, transportation equipment, medical equipment, commercial real estate, commercial equipment and facilities, etc. Net investment in financing leases is following: Cited from GE Annual report 2011 According to IAS 17, many large companied such as GE have to convert their operating leases to finance leases. Such a conversion results in increasing on both current liabilities and total liabilities.These increases might have significant implication for financial analysis. Development of IAS 17 and its underlying rationale The growth in the leasing industry became massive in 1970s, which means leasing had been a significant economic resource. However, accompanied with the growth in off balance sheet financing, leasing in popularity led to a problem that companies’ financial statements were seemed to be distorted by the accounting treatment of leasing transaction. Thus, they did not show a true and fa ir view about their business activities by financial reports.Like many other standards, urgent action was needed as there was no uniformity in treating and disclosing the lease transactions to prevent manipulated accounting message occurring. IAS 17 proved to be very controversial accounting standards. Time witnessed the extent of the controversy. Originally, IAS 17 was published in September 1982 by the IASC and revised in December 1997. In December 2003, it was revised again and issued by the IASB. In April 2009, an amendment about the classification if land leases as a part of the Annual Improvements to IFRSs as made to IAS. Then the revised IAS 17 remains effect to now. The ASC in the UK expressed a concern that the standard might lead to undesirable economic consequences by reducing the quantity of leasing and that the lessee firm’s gearing might be affected disadvantageously by the inclusion of the lease responsibility. Nevertheless, â€Å"in the event, the commercial reasons for leasing and the capacity of the leasing industry to structure lease agreements to circumvent the standard prevented a reduction in lease activity.Evidence of lessors varying the term of the lease agreements to ensure that they remained off balance sheet is supported by Cranfield and by Abdel-Khalik et al. †(2008, Elliott, B. and Elliott, J. ) In current IAS 17, the leased items that substantially transferred the risks and reward to the lessee should be reported in the financial statements. The standard requires finance leases to be capitalized. The asset and liability should be brought onto the statement of financial position. Criticisms of IAS 17Unfortunately, there are strong criticisms raised in relation to the existing IAS 17S by securities regulators, professional accountants and other interested parties. The main criticisms focus on the failure of the existing accounting model to meet the needs of financial analysis for users of financial statement. Commonly, investors and other users of financial statements believe operating leases produce assets and liabilities so they routinely adjust the recognized amounts to recognize the assets and liabilities so as to make comment the effect of lease contracts in profit or loss.However, there are deficiencies in the information on leasing accounting in the current IAS 17. It cannot provide a complete picture of a company’s leasing activities and is difficult to compare entities each other. Equally importantly, existing IAS 17 could provide opportunities to structure leasing transactions whereby lease contracts can be built in a particular way in order to achieve a particular lease classification and lead to a particular outcome. For instance, a lease contract could be fabricated in such a way that it is not in accord with any bright-line indicators of IAS 17.Consequently, it is classified as an operating lease in order to obtain an economic source of unrecognized financing and thereby achi eves a particular capital structure. Moreover, the two different accounting models for leases might lead to very different accounting treatment for similar transactions. This also reduces comparability for users of financial statements. Some critics of IAS 17 have pointed out another problem that the existing accounting model is conceptually deficient. IAS 17 only identifies as liabilities obligations due under finance leases, not those under operating leases.Specifically, arriving at a lease contract, the lessee obtains the right to use the leased equipment, which fulfills the board’s definition of an asset. Similarly, the obligation of the lessee to pay rentals also meets the definition of a liability. However, the right and obligation are not recognized if we identify the lease as an operating lease. In addition, accounting model for leases growingly differs from other contractual arrangements, which gives rise to inconsistent accounting between lease arrangements and simi lar arrangements that are not defined as lease arrangements.Besides, managers and auditors have complained about complexity of the existing accounting model. Especially, it is difficult to define a distinction line between finance leases and operating leases in theoretical way. As a result, the standards employ bright-line tests and a mixture of subjective judgment, which is hard to implement. Future of IAS 17——Draft ED/2010/09 In March 2009, a joint discussion paper on leases issued by the IASB and the FASB. The objective of this project is to correct and improve those deficiencies in IAS 17.On 17 August 2010, the exposure draft, Draft ED/2010/09, was published to set out a proposal for a new IFRS on leases. There are more than seven hundred comment letters received on it. A re-exposure is expected in the second quarter in 2012. The board plan to issue the new standard after 1 January 2013. The ED would correct the apparent weaknesses in the current standard and the p roposal would lead to a significant improvement. The distinction between finance leases and operating leases would be eliminated. It would set out new accounting methods on leasing for both lessees and lessors.Within the scope of the proposal, lessees would be no longer permitted to treat leasing as off-balance sheet financing in the right-of-use model but would be reflected as assets and liabilities, regardless of the form structure, if they meet the definitions in the Conceptual Framework. Furthermore, ED/2010/6 would help to show a more accurate measure of a company’s gearing or capital structure and enhance the comparability characteristic of financial reports. However, new issues emerge that need further consideration. For the proposed revenue standards, further clarification is needed on the â€Å"continuous transfer of control† criterion.The proposal might give rise to diverse explanation for certain types of contracts. Secondly, although the lessons’ acc ounting in proposal is conceptually sound, the lessors’ accounting lacks theoretical virtue. Employing a hybrid model is contrary to the single right-of-use model. The performance obligation method recognizes the underlying assets, lease receivables and two income streams, interest income and lease income as well. It is conceptually weak because, in reality, there is only one underlying asset and one income stream from lease payments.Although this approach brings about significant economic benefits, side-effect could also occur when testing impairment of underlying assets and lease receivables. Turning to derecognition approach, although it more closely consists with the single right-of-use model and has more theoretical merits, its new concept of residual asset requires further deliberation. For instance, whether it meets the definition of an asset? If it is so, is it a tangible asset or an intangible asset? Conclusion Although the current IAS 17 encountered many comments, t he joint leases roject is still under development and the explained provisions are not final. There is no doubt that the proposed new leasing standard provides a more accurate representation of the economic transaction in the leasing field. The users of financial statements will make better decision with more complete information. But to some extent, it is more onerous than the existing accounting rules so that probably, some small entities daunt their progress faced with the increasing complexity rules and investors will have to calculate by themselves on the implications of this new information.So IAS  17 still works. Hopefully, the final standard is expected to be issued later in 2012 and to become effective in late 2013 or early 2014. In short, it cannot be disputed that it is crucial for anyone to clearly understand the new standard that is keen to interpret financial statements accurately.Reference [1] Billenness, L. (2010), ‘The Future of Lessee Accounting: Everything You Wish You Never Had to Know About the New Lease Accounting Standards’, EMEA ViewPiont, December 2010 [2] Byrnes, N. 2006), ‘You May Be Liable for That Lease: FASB’s Review of Lease Accounting Standards Could Really Hammer Retailers’, Business Week, June 5 2006 [3] Deloitte’s IFRS Global Office, (2010), ‘IFRS in Focus——IASB issues Exposure Draft on Lease Accounting’, [Online] Available at: http://www. iasplus. com/en/publications/ifrs-in-focus/2010/ifrs-in-focus-2014-iasb-issues-exposure-daft-on-lease-accounting-august-2010/file [Accessed 4 April 2012] [4] Elliott, B. and Elliott, J. (2008), ‘Financial Accounting and Reporting’, 12th edition, London: Pearson Education Limited, pp433-448 [5] Grossman, A.M. and Grossman, S. D. (2010), ‘Capitalizing Lease Payments: Potential Effects of the FASB/IASB Plan’, CPA Journal, May 2010 [6] IASB (2010), ‘Snapshot: Leases’, [Online] Available a t: http://www. ifrs. org/NR/rdonlyres/FBE30248-225B-48AF-AAE5-96494D83A978/0/LeasesSnapShot0810. pdf [Accessed 16 April 2012] [7] IASC Foundation staff, ‘Technical Summary: IAS 17 Leases’, [Online] Available at:http://www. iasb. org/NR/rdonlyres/B8ABE9AA-8F5B-4301-866E-ED2D423504E7/0/ias17sum. pdf [Accessed 4 April 2012] [8] IAS 17 [Online] Available at:

Effect of Teamwork on Employee Performance - 6031 Words

CHAPTER TWO LITERATURE REVIEW 2.0 Introduction In this era of increased competition, leaders recognize the importance of teamwork more than ever before. Teams can expand the outputs of individuals through collaboration. Employees who are working in teams become the standard for the organization (Alie, Beam Carey, 1998, Journal of Management Education, 707-719.). It is the means of improving man-power utilization and potentially raising performance of the individual. With a support from upper level management, employees work confidently in teams and increase productivity of the organization. In the new business world, managers are assigning more team projects to employees to enable them strengthen their knowledge and develop their skills†¦show more content†¦Conti and Kleiner (2003) reported that teams offer greater participation, challenges and feelings of accomplishment. Organizations with teams will attract and retain the best people. This in turn will create a high performance organization that is flexible, efficient and most importantly, profitable. Profitability is the key factor that will allow organizations to continue to compete successfully in a tough, competitive and global business arena. 2.2 Esprit De corps Esprit De corps is the feeling and viewpoint that employee holds about the group. Esprit de corps is also known as team spirit in which employee shares their problem with each other within the organization (Jaworski Kohli, 1993). Team spirit is composed of group members ‟ feelings, beliefs and values†. Additionally, team spirit in the organization is the key to achieve common goal of the team (Boyt, Lusch Mejza, 2005). Esprit de corps is the key for success in the organization. Another researcher considers esprit de corps as a valuable asset for team members as well as an organization (Homburg, Workman Jensen, 2002). One research study find out the positive correlation exist between esprit de corps and employee job satisfaction level. Researcher further suggested that increase in team spirit will result in better employee performance (Boyt, Lusch Naylor, 2001). Most of the employees pursue their individual tasks rather than group (Trimizi Shahzad, 2009). 2.3 Team Trust Trust among theShow MoreRelatedSummary of Effect of Teamwork in Employee Performance747 Words   |  3 PagesSummary of journal about effect of teamwork on employee performance The research analyses the performance of the performance of the staff members of an education department of a in a province of Pakistan called KPK. Researchers use some measures including spirit de corps, team trust, recognition and rewards. And they proved that teamwork and those measures positively affect the employee performance. They put this research as self-administered questionnaires distributed in directorate ofRead More Effect of Teamwork on Employee Performance Essay1885 Words   |  8 PagesEMPLOYEE TEAMWORK According to Cohen and Bailey (1999), a employee team is defined as a collection of individuals who are interdependent in the tasks they perform and who share responsibility for the outcomes. Teamwork is the process of working collaboratively with a group of people, in order to achieve a goal. Teamwork is often a crucial part of a business, as it is often necessary for colleagues to work well together, trying their best in any circumstance. Teamwork means that people will try toRead MorePay For Performance Pay : An Effective Compensation Strategy Essay1196 Words   |  5 PagesOverview Pay-for-performance pay is an increasingly popular compensation strategy in today’s business world. According to research conducted by consulting firm Aon Hewitt, 90% of the 1,100 employers polled use some form of variable, performance-based pay in their compensation strategy (Kelleher, 2013). There is also considerable evidence that employees, themselves, believe that their compensation should be tied in some way to their performance (Milkovich, Newman, Gerhart, 2016, p. 332). With suchRead MoreTeamwork Report862 Words   |  4 PagesCase Study in Teamwork Name: Jessie (Luyan) Wang âž ¢ Introduction This report is a case study of Starbucks’ teamwork practices. In the first stage, the overview background of Starbucks will be introduced. Secondly, the viewpoints of Starbucks and the strategies, which are used by the company to make their teamwork performance well, are going to discuss. Next, the effectiveness of Starbucks teamwork strategy will be point out. In the end, there is a conclusion about the effect of policiesRead MoreA Research Project On The City Of Kelsey1353 Words   |  6 Pageswater system due to the increase of its residents. The efforts of this project rest on the communication and teamwork with addressing issues and concerns from the mayor of Kelsey. The following paper will discuss the concerns that Kelsey’s mayor has with the methods utilized in building effective relationships with teamwork among city employees and with the motives and values with building teamwork. The paper will describe the communication factors that need to be considered that will have leaders andRead MoreTeamwork at Walmart705 Words   |  3 PagesTeamwork at Wal-Mart It is essential to have teamwork within a company. Companies who have embraced the concept of teamwork have reported increased performance in work production, problem solving and it has stimulated new growth. This group project approach has improved employee morale and increased input when managed correctly. The benefits of teamwork can make a positive effect in the company that incorporates this type of teamwork approach. As each new project is started, a new teamRead MoreEssay on Criteria for Performance Evaluation1039 Words   |  5 Pagesplant’s engineer hired for the modification of the plant had positive job performance credentials but poor interpersonal relations and tidiness at work place. This situation put the plant manager in a difficult position when it came to developing a well outline assessment of the engineer. Criteria for Performance Evaluation The three sets of performance evaluation mechanisms that brought concerns for the manager and the employee in the current evaluation structure included poor relationships withRead MoreEmployee Engagement And Business Performance1033 Words   |  5 PagesEmployee engagement is a method designed to ensure that employee are committed to their goals and value, motivated to contribute to business success. According to Schaufeli and Saklanova (2007), employee engagement is â€Å"important† for business organization given many challenges they face. Additionally, Sulliman (2000) claims employee engagement is essential concept for leadership and organization performance. However, it is probably difficult to get high employee engagement to organization goals.Read MoreInterpersonal Communication And The Workplace946 Words   |  4 PagesThere are generally two different types of interpersonal communication within every workplace, the peer to peer and the supervisor to subordinate or e mployee. The most critical interpersonal communication to increase productively, foster a positive attitude, create team building and heathy environment within the workplace is the supervisor to employee interpersonal communications. For a supervisor to be affective in his communication to his subordinates he must possess certain interpersonal skillsRead MoreWhich Meaning of Compensation Seems Most Appropriate from an Employees View: Return, Reward or Entitlement?776 Words   |  4 Pages encourage motivation towards peak performance, achieve internal and external equity, and increases employees’ loyalty to the organisation. When employees see compensation as a form of entitlement, they might feel that this compensation is unconnected with their accomplishment. Compensation systems are meant to attract, retain and motivate employees. When employees see their compensation as a form of entitlement, the motivation effect ceases. Employee reward and recognition programs are