Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages‚ rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a business
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Ch 9 Leadership--occurs when particular individuals exert influence on goal achievement of others in organizational context> Strategic leadership refers to leader’s "ability to anticipate‚ envision‚ maintain flexibility‚ think strategically‚ and work with others to initiate changes that will create a viable future in the organization. Research on leadership traits> traits are personal characteristics of the individual‚ including physical charactersitics‚ intellectual ability‚ and personality. Research
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Leadership Leadership is the art of leading others to deliberately create a result that wouldn’t have happened otherwise.” The Characteristics of a Good Leader What makes a good leader? Here are some of their most important characteristics: Self-Awareness. You have an intimate knowledge of your inner emotional state. You know your strengths and your weaknesses. You know when you’re working in flow and you know when you’re over worked. You know yourself‚ including your capabilities and your limitations
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Donald Trump and his leadership success: Personality Profile 1. Discussion of the Personality Profile based on Big Five model of personality (surgency‚ agreeableness‚ adjustment‚ conscientiousness‚ and openness to experience) The Big Five Model: Surgency-is the ability to persuade or influence individuals to understand your point of view‚ vision‚ mission‚ and/or objective and is willing to follow your lead as a result. One of the character traits of surgency is competitiveness. Donald Trump is
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Presentation # 5 GOLEMAN’S 6 LEADERSHIP STYLES FOR ‘EFFECTIVE TEAM PERFORMANCE’ GOLEMAN’s RESEARCH Goleman found in his research that Leaders used one of these styles at any one time Each of the Six Leadership styles comes from the use of Emotional Intelligence COMMANDING OR COERCIVE LEADER Is one of the most aggressive of the six Leadership Styles‚ expects and demands immediate compliance to his/her orders He/ She accomplishes tasks by ordering and dictating‚ even demeaning his/her followers
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Leadership “Leadership and learning are indispensable to each other”—John F. Kennedy. The characteristics of being a leader are infinite. If an individual can not listen he or she will have a hard time being a leader. Listening is the key aspect of learning and learning is the key aspect of being responsible; a leader must be able to listen‚ learn‚ and be responsible if he or she expects anyone to follow his or her example. Working hard to represent my school well has taught me to be a successful
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product costs are the direct materials‚ and manufacturing overhead that are involved in acquiring or making products. Products costs are assigned to an inventory account on the balance sheet and considered to be assets. When the goods are sold‚ the costs are released from inventory and are recognized as expenses in the income statement. Period costs are all the costs that are not included in product cost‚ such as advertising‚ executive salaries‚ and other nonmanufacturing costs. These costs are expenses
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MGT 6503 08/06/2014 Leadership Paper: Nelson Mandela This paper will give an analysis of a leader that I admire Nelson Mandela. It will cover the strong Prophecy‚ inspiration‚ compassion‚ innovative‚ persistence and ethical qualities of Nelson Mandela. Nelson Mandela was
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great leader but not a manager. Conversely‚ a typical nurse can be a manager but not possess many nursing leadership skills. According to Huber (2010) leadership is defined as “the process of influencing people to accomplish goals” (p. 6). Key concepts related to leadership according to Huber (2010) are influence‚ communication‚ group process‚ goal attainment and motivation. At is core‚ leadership is influencing people. In contrast‚ management involves influencing employees to meet an organizational
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A. Leadership Theories 1. Contingency Theory It is first suggested by Mary Parker Follet and viewed and organization as a system of contingencies. Fielder’s contingency approach reinforced these findings‚ suggesting that no one leadership style is ideal for every situation. Fielder felt that the interrelationships between the group’s leader and its members were most influenced by the manager’s ability to be a good leader. Research has shown that the leader-manager must assume a variety of leadership
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