LM3 Assignment Example | Topics and Well Written Essays - 2000 words

LM3 - Assignment Example The major characteristics that make it difficult to define leadership include; people from both public and private organization barely know the components of leadership whether it exist or it doesn’t. According to Denhardt, Denhardt & Aristigueta, p-189 â€Å"leadership is becoming one of the most widely debated but least clearly understood concepts† Secondly people have not yet understood that leadership has become so dynamic whereby, society has been described as â€Å"highly turbulent subject to sudden and dramatic shift† (Denhardt, Denhardt & Aristigueta, pp-189). Thirdly, people have not yet understood leadership requires corporation among all the concern parties, whereby, according to Denhardt, Denhardt & Aristigueta, pp-190, â€Å"Moreover, clients or citizens also want to participate, as well they should†. Additionally, lack some aspect of creativity and innovativeness with respect to leadership style has made it quite challenging to define leaders hip (Denhardt, Denhardt & Aristigueta, pp-190-192). This is because leadership style that may be applied in a particular organization may not be effective in another organization. Additionally, different organizations have different structures and may require different leadership styles (Denhardt, Denhardt & Aristigueta, pp-189-195). In above connection, future leadership is more of a shared process because current leadership was build based on the past leadership theories. This is according to Denhardt, Denhardt & Aristigueta, p-190 â€Å"we need to understand how leadership has been studied and practiced in the past†. Therefore, through past leadership, future leadership can have a reference point as well as a fundamental base of formulating the appropriate leadership styles to be applied in future organizations (Denhardt, Denhardt & Aristigueta, pp 189-192). However, it is important to consider that â€Å"leadership is changing in many ways, and we should be attentive to those changes† (Denhardt, Denhardt & Aristigueta, pp-190). In above connection, it can be scrutinized that, â€Å"In the past, a leader was considered the person who held a formal position of power in an organization or a society† (Denhardt, Denhardt & Aristigueta, p-190). However, through evolution of leadership, people have come to understand that leadership is a process that requires corporation and integration among all people within and outside the organization (Denhardt, Denhardt & Aristigueta, pp190-193).Additionally, leadership has taken a certain angle, whereby, decision makers should not only involve people from top management but should also involve those from lower levels of management (Denhardt, Denhardt & Aristigueta, pp 190-195).This is because when everybody is involved in decision making, people feel that they own those decision(Denhardt, Denhardt & Aristigueta, pp 190-195 2. How to our text authors define â€Å"moral imagination†? When is this t o be used? Why? What does it involve? The author has employed the concept of moral imagination to explain what moral leadership entails as well as moral issues. According to Denhardt, Denhardt & Aristigueta, pp 224-225, moral imagination entails â€Å"not just heightening attention to moral con-cerns, but rather carefully and thoughtfully understanding and evaluating

Banking Essay Example | Topics and Well Written Essays - 2500 words

Banking - Essay Example ing overtaken by Dutch giant ING for a measly sum of  £1, and exposing the risky environment in which equity corporations scale catastrophic limits in order to make a quick profit. At the heart of the devastating scam was a person with a huge appetite for risk-taking but hardly any accountability towards the bank, Nick Leeson. Overnight, the unscrupulous futures’ trader from London who was previously the poster boy for Barings’ high-growth earnings from Singapore’s premium monetary exchange, SIMEX (In 1993, he documented nearly 10% of the bank’s profits in futures’ trading), took special advantage of the bank’s vulnerability in not being able to hedge the risks that come with dealing in a concern as sensitive as this. This is what happened. Nick Leeson’s job as Chief Trader at SIMEX was to buy and sell the simplest kind of derivatives pegged to the Nikkei-225 stock exchange of Japan. This job entails the methodology of a skilled bookie who basically, bets on what people are likely to bet on in the future course. Despite booking profits on various occasions, some of Leeson’s predictions proved incorrect. The idea to fool the bank management in covering up details of unsuccessful tradings came from devising an unaudited bank account, called error account 88888, to fix  £20,000 goofed up by an inexperienced team member, which was later to serve as Leeson’s personal getaway in covering up failed investment strategies. Even as the entire audit team of Barings’ was kept in dark about what was the tip of the iceberg then, Leeson managed to document account losses which were initially at  £2 million in 1992 to an astronomical figure of  £208 million by 1994. The final blow