Being able to encompass all conflict management styles allows them to gain trust from clientele, and subsequently build strong relationships. The disadvantages to these approaches reflect negatively on the company. “Always putting the customer first can backfire on the company in major ways” (Importance of Conflict Management, n.d.). Allowing customer to return items with out proper documentation leaves the company vulnerable to lost of revenue and
Following the stock market crash, the threat of losing money stored in financial institutions caused an alarm among the citizens. As a result, bank runs occurred. These runs were detrimental to the viability of the banking industry. Banks didn’t have the cash on hand to be able to distribute the large withdraws. In this time during the 1930’s, over 9,000 banks failed.
Disclosing a disability to an employer can have both negative and positive effects. The possible positive effects being that accommodations can be implemented for the person’s disability, people in the area are aware in case of an emergency, and there is an honest relationship built at the beginning of the job. Negative aspects of disclosing the information could be that people might treat the person differently, expectations of work might be changed, they could receive pity, or it could put the employer in an uncomfortable position. However, if the information is delivered correctly and the employer is considerate, the positive should outweigh the negative. This decision is a personal choice and should be made with many different considerations
You see, when you are stealing from a business and have this business shut its doors; you don’t only hurt the business owner, but you also hurt thousands of other people. You also hurt the customers who are affected by this monetary loss caused by shoplifting simply because the store owners will raise their prices for their losses. In some areas, customers pay $350 to $450 dollars annually in higher prices because of shoplifting. Can consumers really afford
The Huge Short: Inside the Doomsday Machine by Michael Lewis Summary The Huge Short: Inside the Doomsday Machine by Michael Lewis is an arrival to Lewis' financial / monetary origins. In this book, Lewis investigates the share trading system accident of 2008. Lewis inspects the security market and the move into subprime contract securities that prompted the accident that really occurred over the long months in 2007 when the lodging costs all of a sudden dropped across the country. In this character driven story, Lewis looks at the gathering of individuals who saw the accident coming and either stayed silent to secure possibly huge ventures or were excessively stunned, making it impossible to talk up. The Huge Short depicts a few of the key players in the production of the credit default (CD) swap in the market that looked to wager against the collateralized debt obligation (CDO) rise and in this way finished benefitting from the money related emergency of 2007–08.
First of all, I think the final collapse of Enron on December 2, 2001, under Lay and Skilling was because of their leadership style and corporate administration issue that prompt to the corporate culture of the organization. The failure of the company was not only caused by one person’s doing but whole top management from the beginning. As the Chinese saying goes, “paper cannot hold a fire.” Hence, the mistakes they made accumulated day by day and finally end up with huge debts and bankruptcy. The things which had Lay and Skilling did is difficult to show both of them were violating laws. In fact, it is both of them that formed the corporate culture and bring in their own beliefs and instill into the company.
I want to be seen as a good mentor to my followers and my supervisor. I will do this by integrating Coping Behavior and Cognitive Flexibility with my subordinates, peers, and supervisor by developing a good rapport with each of them. I know I can weaken those relationships if I do not mange my Coping Behavior because of miscommunication due to large cognitive gaps because I did not scan my environment. I will use Cognitive Flexibility to “scan my future environment” to identify those pitfalls for conflict that may hinder our rapport. For an example, to resolve customer complaints, my subordinates and I may have a different approach to dealing with complaints.
This is important because it helps build a good rapport with customers. When you build a good rapport with customers they are more likely to come back and refer others. When you are actively listening you can hear the customer, coworker, or manager actual concerns and not have to ask them to repeat themselves. It can be extremely unprofessional and annoying to customer and coworkers if you keep asking them to repeat themselves.
Goldman Sachs was once referred to as the “white knight”, the ultimate corporate- go- to- guy. Emerging as the most influential bank, it had survived the financial crisis, the same in which Lehman Brothers, Fannie Mae and Freddie Mac were heavily scrutinised. In 2010, this restructured to the proposition that Goldman Sachs’ numero Uno client is Goldman itself –It came under the radar of a “shrewd winner”. Goldman Sachs introduced ABACUS 2007-AC1, a collateral debt obligation (CDO), for investors who anticipated that the subprime mortgage and residential markets would further boom. There were twenty five such Abacus deals and several other CDO’s without the Abacus label.
With my upcoming assignment I will undoubtedly see more of it. Now that I have a better understanding with regard to the behaviors of leader and subordinate, i will better understand its development process and look to stop it once I see it. Within our organization, Tyrannical leadership is common and the most destructive. As Ståle (2007) describes the behavior " Because tyrannical leaders may behave constructively in terms of organizational oriented behavior while displaying anti-subordinate behaviours; subordinates and superiors may evaluate the leader's behaviour quite differently. Subordinates may view the leader as a bully, while upper management views him/her favorably.