Risk Management And Financial Performance In The Bank Of China Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1148 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Bank of China (Hong Kong) Limited (BOCHK) is the second-largestÂÂ  commercial banking groupsÂÂ  inÂÂ  Hong Kong with more than 300 branches. In spite of its magnitude and systematic risk management, 2008 has witnessed a decline in operational income and a negative shock to BOCHK. In this report, I will first investigate the overall risk management of BOCHK followed with its measurement and management of credit risk, and finally compare the 2008 financial performance with previous year by utilizing ROE framework. I. Overall Risk Management Principles for the Management and Supervision of Interest Rate Risk published by Bank for International Settlements (2004), in 2004 provides not only a guideline on how to conduct interest rate risk management, but also principles that can be applied to manage the overall risk of a financial institution. This part will evaluate to what extent BOCHK meets this international standard. According to the report, the BOCHKs risk management governance structure is designed to cover the whole process of all businesses and embrace a swift and prudent manner to manage various risk exposures, which basically conforms to the requirements stipulated by BIS. The report shows that first, to align management strategies with the corporate interests, Chief Risk Officer (CRO) reports directly to Risk Committee as well as to Chief Executive (CE), whose responsibility is to ensure the proper implementation of the policies and procedures and oversee the effectiveness of managing and controlling risk. The regular basis reports guarantee a timely assessment of the effectiveness of risk control strategies, for which the Board of Directors has the ultimate responsibility to determine. In addition, the independent operation between business units and risk management units complies with the principle of segregation of duties since the independence is sufficient and necessary for risk management (Khambata , Dara 2006). In accordance with BISs requirement, however, risk control function (CRO) should report directly to the Board of Directors. Otherwise, some potential risk that CRO and CE may conspire to fake the risk management report would threaten the fairness of the risk management system. Secondly, BOCHKs principal banking subsidiaries Nanyang and Chiyu, executes their risk management strategy independently and share the consistent risk management policies with those of the Group, report to BOCHKs management on a regular basis. Thirdly as found in the 2004 report, BOCHKs stress testing is a risk management tool for estimating risk exposures under stressed conditions that arise from extreme but plausible macroeconomic movements. Fourthly, its information systems are well established to provide timely reports within different levels of management, while CRO stipulates specific procedures concerning the promotion of new products and activities. BOCHK also prudently enacts and administers operating limits so that risk exposures are consistent with internal policies. However, the mere existence of risk management mechanisms does not guarantee sufficiency or effectiveness. Enforcement of risk control policies should be applied to ensure an efficient risk management system. Don’t waste time! Our writers will create an original "Risk Management And Financial Performance In The Bank Of China Finance Essay" essay for you Create order II. Measurement and Management of Credit Risk According to the note 4 of the BOCHK financial statement in 2008, BOCHK manages two broad classes of assets: loans and advances and debt securities and derivatives. The overall assets exposure to credit risk in 2008 is HK$1,364,462 million, which includes HK$1,111,073m on-balance-sheet exposures and HK$253,389m off-balance-sheet exposures. To safeguard corporate interest, BOCHK should manage credit risk related to these assets in a prudent manner, especially during a financial crisis. This part of the report will investigate how BOCHK measures and manages credit risk of these assets. To minimize the credit risk, the 2008 report shows that BOCHK adopts credit approval policies and procedures that are reviewed and updated by the risk management department and other relevant departments. Regarding loans and advances, BOCHK not only adopts different credit control procedures and credit grading systems according to the level of risk associated with customers, but also utilizes bank s corecard for financial institutions, credit scoring system for retail credit transactions, and small business credit scorecard for small firms. BOCHK identifies credit concentration risk by industry, geography, customer and counterparty risk. For instance, classified or impaired advances are HK$1,792m in Hong Kong, HK$323m in Mainland China, and HK$23m in elsewhere. Besides, loans and advances are classified into five categories to improve the ability to identify and assess credit risk: pass, special mention, substandard, doubtable and loss. For example, the total assets marked as substandard or below, the high risk category, account for 0.08% (HK$379m). As for debt securities and securitized assets, the 2008 report indicates that BOCHK adopts the external credit rating systems, such as Moodys, to manage the credit risk. Moodys ratings in 2008 showed that 19.34% of BOCHKs debt securities rated as Aaa compared with 2.36% lower than A3 debt securities. Particularly, BOCHK applied a comprehensive methodology in determining whether a particular asset/mortgage backed security (ABS/MBS) is impaired is determined by such factors as the mark-to-market price, external rating, and delinquencies. Except these factors, ABS/MBS has to further pass the required credit enhancement coverage ratio set by BOCHK. To manage credit risk in a dynamic market environment, policies, procedures and appropriate credit risk limits have been established. The corporate organization structure defines a clear line of authority and responsibility for supervising compliance with relevant rules (Khambata , Dara 2006). For instance, the Credit Risk Assessment Committee takes charge of assessing independently all credit scoring facilities and reviewing reports submitted by risk management units. In addition, Khambata , Dara (2006) argues that collateral is another key element to manage credit risk. The value of collateral for a new loan is determined by an independent appraiser at the ti me of loan origination. Collateralized loans are subject to loan-to-value ratio limits. Collaterals are also revalued and managed periodically by BOCHK. BOCHK documents acceptance criteria, validity of collateral and revaluation of collateral on a regular basis to monitor the status of collateral. III. Financial Performance Comparison According to the 2008 reports, BOCHKs ROA and ROE were 0.26% and 3.56% in 2008, versus 1.48% and 16.64% respectively for 2007. BOCHKs Profit Margin also decreased to 5.97% in comparison with 24.24% in 2007. These substantial statistical decreases were caused mainly by the increase in impairment charges on the US non-agency residential mortgage-backed securities and other securities investment. Furthermore, significant increment in Provision for loan losses/Total operating income (2.22% to 24.95%) and dramatic decline in investment-related commission income both produced a negative impact on the profit in 2008. Increments in provision for loan losses were directly caused by the sluggish investment environment brought by the global financial crisis. As customers mostly steered clear of investment products, the investment and insurance fee income decreased by 34.3% to HK$2,964 million. Note 12 shows that net charge of impairment allowances increased from HK$1,448 in 2007 to HK$ 12, 573 in 2008. Despite of a bleak financial environment, the ineffective credit risk management was still to blame for the sudden increase in loan impairment losses. From the perspective of overall risk management, it can be suggested that BOCHK should conduct a more strict stress testing and scenario analysis to predict the sensitivity of risk factors with various degrees of severity.

The Legacy Of Abraham Lincoln - 1921 Words

Lincoln Abraham Lincoln was born on February 12, 1809 in a log cabin in Hodgenville, Hardin County, Kentucky. He was a â€Å"self-taught Illinois lawyer and legislator with a reputation as an eloquent opponent of slavery† (â€Å"Abraham Lincoln†). He is â€Å"regarded as one of America’s greatest heroes due to both his incredible impact on the nation and his unique appeal,† (â€Å"Abraham Lincoln Biography†) and was also the 16th President of the United States, but there were many people that did not like the fact that Lincoln was President, mostly of the South because he was a Republican. During the Election of 1860, Lincoln ran for presidency for the Republican Party. â€Å"Lincoln’s nomination was due in part to his moderate views on slavery, his support for improving the national infrastructure, and the protective tariff† (â€Å"Abraham Lincoln Biography†). Running against him were better known candidates, representing the northern Democrats was Stephen Douglas, the southern Democrats nominated John C. Breckenridge, and running for the â€Å"brand new Constitutional Union Party† (â€Å"Abraham Lincoln†) was John Bell. Because the Democrats had multiple candidates running, Lincoln won the election, on November 6, 1860, receiving â€Å"only 40 percent of the popular vote and 180 electoral votes – enough to narrowly win the crowded election. This meant that 60 percent of the voters selected someone other than Lincoln† (â€Å"The Election of 1860†). â€Å"Before his inauguration in March, 1861, seven Southern statesShow MoreRelatedThe Legacy Of Abraham Lincoln1958 Words   |  8 PagesLeadership and Legacy: Background Research Paper Abraham Lincoln By:Audrey Knight Introduction Great leader and main topic Abraham Lincoln lived in the 1800’s where he accomplished many things in his 54 years of life. 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From Theory To Practice And Self Reflection â€Myassignmenthelp.Com

Questions: According To You What Are The Qualities Of An Effective Leader? How Leader Leads To Success According To You? According To You What Are The Role Of Leader In The Organization Success? What Are The Complexities For A Leader? Answers: Introduction Leadership plays an important role in any organisation to perform in a smooth manner as there must be an arrangement in any system to monitor the function of overall management. A leader is one who possesses the excellent skills to supervise the employees of the company so that their performance can be timely evaluated and corrected if there is any such requirement to do. Leaders not only supervise the lower level personnel of the company but also try to keep a focus on maintaining a good level of cooperation and coordination among the entire workforce. Observation During the training period, we had learned various lessons from the manager of the company where we have imparted training, as he possessed excellent leadership qualities which made his company grow and succeed. The leadership traits observed are: Emotional intelligence and empathy: Manager was aware of the significance of creating bonds with his co-workers. From the beginning of his career, he focused on gaining the respect of his employees (Mittal, E. V., Sindhu, 2012). He possessed the high level of emotional intelligence and empathy for everyone. No leader is born as a leader. The management also did not have leadership experience but he gained it through efforts and experience of his journey to success (Germain, 2012). It is crucial to work on management skills and game based learning. By these methodologies, people improved their skills by continuous learning and practice. Emotional intelligence also brings discipline amongst employees, as through EI controlling and redirecting on the disruptive action can be taken easily. Social skills: The ability of the manager to mix with other is the trait which retains the employee for the longer period. The manager was capable of persuading and leading teams in an efficient manner towards the goal. Social skills help employee of the organization to communicate and cooperate effectively with manager target. It also helps the manager to cooperate with diversity existing amongst employee in the organization. It also enables managers to keep innovating, sharing and learning activities going in an organization. It helps the manager to create trust amongst employees, as a manager is supportive in showing beliefs amongst employees (Kinicki Kreitner, 2012). As a manager, he knows to rely on other skills and judgment than appreciating the success of the team. Master listener: As a manager of the organization he is having the capability of being a master listener. He deals with a conflicting view and personalities efficiently. Employees of the organization are allowed to counter the point of view of manager without fear of retaliation. He is always interested in seeking interest and point of view employees working under him (Kluger, Zaidel, 2013). In the end, he will respectfully make his final decision towards goals and problems of organization. As a leader, he was very intelligent to understand the behavior of employee towards work. He always inspires his team to work efficiently and achieve target as per standards. He always invites others to express their opinions and ideas in discussion forums, this fosters impressive listening even ideas might be different from others (Ct, et al., 2010). Observe petty expenses and limit on borrowing: As a manager, he always invests in the businesses of persons who has control over petty expenses. Supervising attentiveness over each expense can make business earn profits and pay check amount also increases. And putting a limit on borrowings helps in surviving through credit, as loan wont give wealth for the longest time. As a manager, he never borrowed a major amount for investing or through mortgaging. He follows the principle of negotiating with creditors to pay what a business can and when business is debt-free, work on saving money so that it can be used in future. Be eager to be divergent: As a manager, he never based his decisions on what other people will be saying or doing. According to him, everyone rather than following the crowd should observe for underperforming investment which can grow to heights in upcoming future (Petkovski, 2012). For him, the average is just what everybody else is doing, to be above average a person should measure himself by his inside instincts. It means examining yourself by own standards, not the worlds. Accountability: Extra ordinary leaders like the manager is responsible for everyone performance in the organization. As a manager, he is taking responsibility for everyones performance and considers all the issue arising amongst the team members. He also evaluates employees performance, monitoring the performance, removing issues arose and much more. Successful leaders make a culture of commitment by characterizing responsibility as making their own particular choices and being in charge of their own behavior (Bezuijen, et al., 2010). Self-managing: It's difficult to oversee others successfully in the event that a leader can't manage him. Self-managing implies having the capacity to organize your objectives and being in charge of fulfilling those targets. As a viable manager, they should have the capacity to control time, consideration and feelings, while staying attentive towards qualities, shortcomings and the potential source of bias. Outstanding leaders are capable of dealing with stress and adjusting their own and expert lives. In any case, you should likewise recollect the significance of sympathy and have the capacity to react to individuals and occasions in a suitable way. Make sure to keep up self-control and discipline in the company, however they should abstain from ending up excessively reserved or rigid. Setting the goal and persisting: Set clear objectives which should be adhered and deliberated for accomplishing them. Back everything up with relentless self-assurance. If a manager believes in himself and has trust things are going right then individuals will be automatically attracted towards the leader. A manager should keep in mind that recording objectives is vital to the accomplishment of both manager and operations (Petkovski, 2012). Be that as it may, fulfilling those objectives requires some serious efforts and time. Active strategically: A unique approach and receptive approach is important for the present leaders. Leaders should be prepared set up to alter their strategies to catch developing open doors or handle starting difficulties (Stewart, Courtright Manz, 2011). Thinking deliberately is a continuous procedure that includes evaluating the business condition. A manager can develop key thinking by: Being interested and really keen in organization and wider business situation, Being adaptable in outlook and attempting new methodologies and thoughts, Focusing on the future and evaluating organizations operational conditions, and Maintaining an inspirational outlook. Result oriented: As a manager being result oriented is the important qualification for a manager. It ensures managers to reach their objectives effectively and timely. Having a competitive nature and bringing achievement shows the good quality of a manager in achieving organizational goal (Marquardt, 2011). Be that as it may, similar to any quality, there are both sides "the good" and "the bad". Managers that are regularly convinced towards objectives have a tendency to be more individualistic than the team member. And on another side manager may not like to work as a team as they are more determined to win in comparison to other individuals. Also, managers has a tendency to demonstrate superiority and regularly want to depend on themselves for all decisions. Delegation: Ability to delegate work to subordinates is the main quality of a leader a manager should possess. The company ultimate goal is to have a global vision. The managers of the company have the worldwide vision and add to the business operation in a more comprehensive way. That being stated, the great managers are having the capacity to adequately delegate the everyday work of the business; particularly those that are more bureaucratic in nature, or are less explanatory and complicated. Having the capacity to designate does not just make a more proficient and compelling supervisor, however, it can create a more result oriented team. Giving co-workers obligations and responsibility influences them to feel more motivated and dedicated towards the company. While there are no particular characteristics related to having the capacity to delegate, it is not a quality that comes automatically to managers. Particularly the individuals who have a huge drive to succeed, they have a tendency to be more suspicious, doubtful, and less reliable (Raelin, 2011). The saying "in the event that is needed to be accomplished right now, do it without anyone else's help" is very basic for the result driven manager, and they have a tendency to have the most inconvenience trusting others to go up against specific task and obligations. Interview: According to me, an effective leader tries to bring great changes. These changes cannot be brought without playing risk in the market. Facing changes and coping with challenges is a primary task of a leader. A strong leader is very effective as h will always try to implement new approaches towards management and goal achievement. Effective leaders also recognize that success cannot be brought without facing failures. The attitude of a risk taking leader towards every challenge is positive and unique. Strong leadership can never happen if lead figure couldn't care for its employees. Leaders should demonstrate a thinking state of mind about the mission, of their association. The care of every individual employee must take priority over everything else. At the point when a leader thinks about those they lead they indicate conduct that is reliably recognizing others. This sort of leader poses numerous inquiries and listens more than they talk. A helpful and caring leader wants the input and assessments of employees whom they lead. A visionary and effective leader always maintains contact with its colleagues while discussing and taking views. Like I was much influenced by the way the political leaders use to lead our country. My ideal was Warren buffet and its traits which inspired me to always follow dream and passion, his principle which I liked the most is a leader should collect the information needed, in advance to make a decision comes and should stick to a deadline, as he considers any spare thinking and sitting as thumb sucking. According to me, a commonly good leader does not bind their employees with their designation and power when they come to meet them. Effective leaders redirect consideration far from them and urge others to raise their point of view. As leaders are specialists in influencing others to feel safe and talk unhesitatingly, share their viewpoints and perspectives. They utilize their official presence to make an approachable management. They either encourage the exchange to engage their co-workers to achieve a key conclusion or they do it without anyone else's help. They concentrate on "getting things going" consistently basic leadership practice that manages advance. Effective leaders have mastered the art of politicking and in this manner don't waste their opportunity on issues that sustain growth. They know how to settle on 30 choices in 30 minutes. They are incredible communicators, and this is particularly genuine with regards to "execution desires." In doing as such, they help their partners to remember the association's centre value and statement of purpose guaranteeing that their vision is legitimately transferred and actionable destinations are appropriately executed. A good leader should not do the following things: Discounting others emotions and perspective: Unsuccessful leader do not follow a value system. One cannot be great leader without demonstrating empathy towards others. This value system makes employees dejected and disrespect from them, as emotional intelligence skill relate a person to organization (Lunenburg, 2012). Missing key organizational decision network: These types of leader or managers are generally confused and driving in name only (Ribiere, Sitar, 2014). They by one means or another handled an initiative title, no doubt coincidentally, condition, timing or bias. They have almost no enthusiastic knowledge regarding self-awareness and hierarchical mindfulness. Blaming others for the outcome: A good leader will generally accept the mistakes when things are going wrong and will appreciate others when things go right. It is actually a leader only responsible if things are not going as planned and culture of organization. Holding and appreciating employees for their above average performance is important to motivate them for working more efficiently. Resolving conflicts: Sometimes leaders avoid dealing with conflict and problem occurring in organization. This shows a negative side of a leader that he is failing in providing feedback, duties and solutions to organization. due to avoidance conflicts grows to high level in organization and creating more difficulty the for organization to deal with. Thus a leader should be conflict resolver as well. According to me, leadership is a function which is needed to practice at all levels of management. In the best level, it is critical for getting co-operation in the definition of plans and approaches. In the centre and lower level, it is required for interpretation and execution of plans and projects targeted by the organization. Management can be practiced through direction and guiding of the subordinates at the season of execution of plans. They are also the representatives of the organization because they to represent the issues and concern at seminars, conference, and meetings. His role starts from communicating the concern of organization to the general public (Gutirrez, et al., 2011). He also integrates and reconciles his own goal with organizational goal. He also helps employees in integrating their efforts in achieving the organizational as well as personal objectives. This is done by the leader through motivation and influence. Cultural assumptions and practices also assume an important part in a leader's personality. Worldwide leaders should be very thoughtful of the impact of culture on the thinking of own and after that have capacity to go past that. They can't constrain decisions and activities to reflect just their way of life. Leaders should be master at precisely understanding individuals and circumstances and after that modifying their practices in positive manner. External forces like government, organization, historical also impact the leaders capacity to manage organization. Sometime a decision may be good for organization at some point in time but may not be ethical from government point of view thus a leader faces consequences for taking decision or not. Some other complexity which comes in daily routine for a leader they are allocation of resources to departments, conflict between regional and head office, barriers of communication, delegating the work to deserving employee and many more diff iculty. These create complexity in the role of a leader. Challenges in leadership: The challenge of building up the significant skills, for example, time-administration, prioritization, key considering, basic leadership and getting up to speed with the employment to be more powerful at work. As this becomes a challenge in leadership for a manager to manage. Despite the fact that leadership and administration both include supervising a group of workers, there is distinguish between the two, and first-time leaders may not generally acknowledge it (Piccolo, et al., 2010). They may feel that if they are fulfilling their objectives and hitting their financial plans, they are effectively driving. And in comparison leaders need to motivate their group, share the concern and provide guidance, not simply dealing with the financial plan. Managers have the significant responsibility to be involved in every task of organization. The most difficult task is to hire right people for the right position. There goes a considerable amount of time and money to select a right person. Discovering and holding the correct worker can be troublesome in the short term, because of the steady increment popularity for multi-talented employees and growing number of the modern organization (Abernethy, Bouwens Van Lent, 2010). It is natural that the connection between business and representative starts not when the worker begins work, but when the recruitment and selection period of the process. Numerous representatives have a positive or potentially negative state of mind towards their boss from the start. How to develop the leadership of own: Delegation: The best leader is one who has knowledge of picking good projects gets them done on time. An intelligent manager won't decrease sacrifice his objectives. This can be effectively done by delegation. Delegating work to representatives and making them feel involved creates the opportunity for the organization as well employees to grow (Day, et al., 2014). In the case a manager delegates his duty; employees will feel more included and have greater chance to grow new abilities. Delegating will enable the manager to better focus on the objectives he has to accomplish for his organization. And as manager for a project, the responsibilities of final work will be in his hands only. Motivation: An essential element of administration is to make willingness among the representatives to perform to the best of their capacities (Plowman, et al., 2007). Hence the part of a manager is to boost the enthusiasm for execution of workers in their occupations. Motivation is a tool which helps the organization to achieve profitable operations. The creation of the feeling of responsibility amongst can be created with motivation only. Self-responsibility creates the sense of best utilization of resources like materials, machinery and much more (Hung, et al., 2011). Suggestions to the leader for making improvement in leadership: Living according to moral and value: Taking decisions with reference to morals and values can help manage to solve various problems. It leaves a manager with the bad image if he not accepting the same value for treating all employees. An ethical and effective leader should discuss and communicate the value and morals to be acceptable in an organization (Derue, et al., 2010). This trait was lacking in manager, as he was treating every employee on different values creating dissatisfaction amongst employee. Willing to admit and accept failure: A perfect leader is not one who achieves best every time but he is one who learns from failure and mistakes. This trait helps a leader to face the difficult situation with ease. A strong leader is one who has the ability to improve its weak area and communicating it to the team. So that team does not make same mistakes and blunders. This trait also helps a manager to judge others from all points of view and lead the organization to heights (Ladkin, 2010). This trait was found lacking in my manager, as manager he was not ready to accept his mistakes which were happening in the daily practice of management. Conclusion: Leadership is the responsible for impacting the behavior of others. It is additionally characterized as the ability to impact a gathering towards the acknowledgment of an objective. Leaders are required to create future dreams, and to rouse the authoritative individuals to need to accomplish the dreams. It also implies distinctive things to various individuals and is a term around in a wide range of settings. Now and again it's traded with the word 'management', and also referred to individuals at the top level of an organization to recognize them from all employees of organization. References: Raelin, J. (2011). From leadership-as-practice to leaderful practice.Leadership,7(2), 195-211. Kluger, A. N., Zaidel, K. (2013). Are listeners perceived as leaders?.International Journal of Listening,27(2), 73-84. Germain, M. L. (2012). Traits and skills theories as the nexus between leadership and expertise: Reality or fallacy?.Performance Improvement,51(5), 32-39. Piccolo, R. F., Greenbaum, R., Hartog, D. N. D., Folger, R. (2010). The relationship between ethical leadership and core job characteristics.Journal of Organizational Behavior,31(2?3), 259-278. Abernethy, M. A., Bouwens, J., Van Lent, L. (2010). Leadership and control system design. Management Accounting Research,21(1), 2-16. Stewart, G. L., Courtright, S. H., Manz, C. C. (2011). Self-leadership: A multilevel review.Journal of Management,37(1), 185-222. Lunenburg, F. C. (2012). Power and leadership: an influence process.International journal of management business, and administration,15(1), 1-9. Derue, D. S., Nahrgang, J. D., Wellman, N. E. D., Humphrey, S. E. (2011). Trait and behavioral theories of leadership: An integration and meta?analytic test of their relative validity.Personnel psychology,64(1), 7-52. Plowman, D. A., Solansky, S., Beck, T. E., Baker, L., Kulkarni, M., Travis, D. V. (2007). The role of leadership in emergent, self-organization.The Leadership Quarterly,18(4), 341-356. Ribiere, V. M., Sitar, A. S. (2014). Critical role of leadership in nurturing a knowledge-supporting culture.Knowledge Management Research Practice,1(1), 39-48. Hung, S. Y., Durcikova, A., Lai, H. M., Lin, W. M. (2011). The influence of intrinsic and extrinsic motivation on individuals' knowledge sharing behavior.International Journal of Human-Computer Studies,69(6), 415-427. Ladkin, D. (2010).Rethinking leadership: A new look at old leadership questions. Edward Elgar Publishing. 250-290. Mittal, E. V., Sindhu, E. (2012). Emotional intelligence and leadership.Global Journal of Management and Business Research,12(16). Ct, S., Lopes, P. N., Salovey, P., Miners, C. T. (2010). Emotional intelligence and leadership emergence in small groups.The Leadership Quarterly,21(3), 496-508. Kinicki, A., Kreitner, R. (2012).Organizational behavior: Key concepts, skills best practices. McGraw-Hill Irwin. Bezuijen, X. M., Dam, K., Berg, P. T., Thierry, H. (2010). How leaders stimulate employee learning: A leadermember exchange approach.Journal of Occupational and Organizational Psychology,83(3), 673-693. Gutirrez, N. L., Hilborn, R., Defeo, O. (2011). Leadership, social capital and incentives promote successful fisheries.Nature,470(7334), 386. Marquardt, M. J. (2011).Optimizing the power of action learning: Real-time strategies for developing leaders, building teams and transforming organizations. Hachette UK. Day, D. V., Fleenor, J. W., Atwater, L. E., Sturm, R. E., McKee, R. A. (2014). Advances in leader and leadership development: A review of 25years of research and theory.The Leadership Quarterly,25(1), 63-82. Petkovski, K. (2012). Required skills and leadership characteristics of a modern manager in tourism and hospitality.UTMS Journal of Economics,3(1), 91.

Margaret Atwood Essays (2843 words) - Margaret Atwood,

Margaret Atwood Margaret Atwood is an acclaimed poet, novelist, and short story writer. With such a variety of works in different types of writing, it is difficult to grasp every aspect of Atwoods purpose of writing. A comparative analysis of Rape Fantasies reveals the Atwoods writing is varied in many ways yet soundly consistent especially when comparing a particular set of writing such as a group of her other short stories. Atwoods background plays a large part in her writing. Atwood was born in Ottawa, Canada in 1913. Her father was an entomologist, so she spent much of her childhood in the wilderness and other various urban places around Canada. Throughout her life, she lived in numerous Canadian residences as well as several towns in the United States. She has also lived in England, France, Italy and Germany. With this extensive background, Atwood displays a vast knowledge of the world around her, although large portions of her writing are based on Canadian settings. As a young girl, she starte d reading many books and even writing poems and comics. After deciding that she wanted to become a writer, Atwood attended the University of Toronto and earned her bachelors degree in 1961. Following this, she went on to receiver her masters degree from Harvard University. Since 1961, Atwood has produced a highly acclaimed body of work that includes fiction, poetry and literary criticism. Atwood published her first volume of poems, Double Persephone, in 1961 (Toronto), followed by many more throughout the next three decades, interspersed with novels, including The Edible Woman, Surfacing, Lady Oracle, Life Before Man, Bodily Harm, The Handmaids Tale and The Robber Bride. (Contemporary Literary Criticism, 48). Among Atwoods extensive list of writing, it is important to note the handful of short fiction that she has published. Her most recent collection of short fiction is titled Good Bones which was published in 1992. Some other significant short fiction works include Wilderness Tips, Bluebeards Egg, Murder in The Dark, and Dancing Girls. All together Margaret Atwoods major published pieces total over forty. For a majority of these works, Margaret Atwood has received numerous awards. Canadas highest literary honor, the Governor Generals Award, was awarded to Atwood for her poetry collection The Circle Game in 1967. She received the award again in 1986 for her novel, The Handmaids Tale. Another significant work that has won Atwood a number of awards are Cats Eye, which is a novel that Atwood produced in 1988. Her large amount of awards proves to her readers that she is a good writer. By looking at a portion of these other works, short stories in particular, it is easy to compare a majority of her work and conclude that her writing of Rape Fantasies is typical of the work that she normally produces. In general, Atwoods literary reputation for subject matter, themes and style are recognizable with the other work that she produces. In her short stories, she follows a few basics, but usually has one significant underlying meaning. The subject matter of Atwoods works usually focuses on either relationships or power, perhaps sometimes both. The relationships in her short stories are either male to female or female-to-female. Atwoods writing has a strong focal point on human relationships. Atwood consistently uses relationships to develop her stories. In her novels, Margaret Atwood creates situations in which women burdened by the rules and inequalities of their societies, discover that they must reconstruct braver, self reliant personae in order to survive (Goldblatt 276). In one of Atwoods short stories, Uncles, the author presents the relationships that a young girl has with her uncles. The bond, although slightly unusual, is closer with her uncles rather than her aunts. The uncles are important to the girl because of the loss of her father. She needs the male bonding that she lacks from her father, so she gets this through her uncles. Atwood often portrays women as dependent on men. This is such the case in U ncles. Even after her uncles are gone, the protagonist meets a man at her workplace. Although at first, it seems like she might overcome him, he gets the best of her and begins to make her wonder if she