Eric Schmidt Leadership Qualities Analysis

Eric Schmidt Leadership Qualities Analysis 1. Introduction: In this assignment, I am going to analyze the leadership style of Eric Emerson Schmidt which one was the CEO of the famous internet company Google comprehensively. Over the period of 2001 to 2011, Eric Schmidt leaded the Google company to become one of the most variable companies and the most popular companies in the world. The initial Google is just a searching engine website company, Eric Schmidt likes a magician made a miracle in this company that build up as a industry pioneer. The business philosophy of Eric Schmidt: As Harold Koontz said: â€Å"Management is an art of getting things done through and with people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can cp-operate towards attainment of group goals. † The full title of CEO is chief executive officer, a important responsibility of CEO is to management the whole company in a positive direction. Every large companies have a evident style as same as their CEO, the CEO runs the company in their own personal style. Eric Schmidt used socio-human approach in his organizational process. And this style was not only used in Google company, but also he used in his first company-SUN which is a same internet technological company as Google and it is famous of JAVA. Because Eric thinks both are same type company, he can use similar style to lead the company. The socio-human approach is a opposite way to technical rational approaches, it is more flexible and humanized to treat employees. the Google is not a traditional company, it depends on its power of innovation. In order to let the employee have better innovative thinking, Eric used this solution to make more advantages for the company. In detail, Eric use a mode which is small team managemen t mode. He made each team have different duty in every areas. That mode is more effective than the old school management mode in real business practice. This approach has following favors :Frist one is that it allows the company to have bigger possible to attempt, let the company has newborn things as much as possible, so the change of success will be lager. There are many famous companies dying because lock of innovation such as Yahoo and IBM. Secondly, this approaches can make employees build up their sense of responsibility as the masters of this company, let them not feel working in a big company. And Eric give the decision-making power to the team, in the process of development, the team mates can have their right to change and improve the product, that also is a benefit thing for their customer. As the famous management education master Peter Ferdinand Drucker said â€Å"The man who focuses on contribution and who takes responsibility for results no matter how junior is in th e most literal sense of the phrase, ‘top management’†. This is also Eric’s goal for using this mode. Thirdly, to reduce the cost of internal coordination, they believe that fast is better than slow in the Google company. The small team management mode can develop more products in shorter time because the team can use their decision-making power to make quick decision, to the failure of adjustment will be repaired easily and quickly. Comparing with other IT companies like Microsoft. When the Microsoft company developed the new windows system, there was a large group members which is several hundreds people to join this subject, it lead to take over years and progress slowly. This is a major point of the Google company can exceed the Microsoft company. The small working team can improve effectively and it is better than the large working group in this specific industry. A good idea will not become effective unless the action commitments have been built into t he decision from the begining. This kind of organization structure is organismic and duo to the Google is a information technology company, duo to that situation, Eric thinks it can help company have better advantage in IT industry environment. The faster update is Google’s powerful weapon to win their competition. The leadership of Eric Schmidt: The definition of leadership is ‘Leadership is the process of influencing the activities of an organized group in its efforts toward goal setting and goal achievement ‘(Stogdill. 1950). The effect of leadership is that make strong motivated to the staffs, let staffs work in unity and achieve goals. According to trait theories of leadership, the leadership is relate to leader’s personality, In Stogdill’s five traits Model: Intelligence, Dominance, Self-confidence, High level of energy, and Task-relevant knowledge. Based on Eric Schmidt’s career , cover news and public speech, Eric at least has intelligence, dominance, and Task-relevant knowledge, these three models can find obvious evidences from his business career. It also can mean Eric has agreeableness, conscientiousness, and openness to experience. Firstly, it is clear to see his self-confidence because he believe his employees, he can give the right of decision-making to every teams. Secondly, his openness to experience is also easy to find, during his CEO career in Google these ten years, the Google company developed many newborn product not only in their search function such as Chrome, Android, and so on. Third one is his conscientiousness, as a survey about 313 private company choosing their CEO, there are 215 successes, in these 215 CEO, Almost of them have conscientiousness. That means how conscientiousness important to a successful CEO. Eric Schmidt has been a leader in three big IT company, all of them become famous and successful in their profession area especially these companies have a higher maker value. Eric’s conscientiousness is proved by he having a strong sense of organization, and word hard. He organises the google engineering team in 70:20:10, it means seventy percent group focus on their product in th e area of search function, twenty percent team work on product in other development area like Android, then the least ten percent team works in newborn things like pilotless automobile. Until now the Google still use this structure when they develop product. In the other hand, there has another theory about leadership:Behavioral of theories of leadership. There are two fundamental types of leader behaviours : ‘Initiating structure’ and ‘consideration’. Initiating structure refers to behaviour which focuses on the achievement of objectives and includes clear supervision and role clarification, planning of work and a results orientation. Consideration includes behaviours which encourage collaboration and focus on supportive network, group welfare and the maintenance of job satisfaction. (Brooks, 2009) Eric Schmidt is a consideration structure in this theory. There are some points to prove that. Primarily, Eric give a wonderful and comfortable working environment, this working environment has been first most popular working environment in the world for four years at American Fortune magazine. This is a evident welfare for employees. Secondly, Eric insists to give the power of decision-making to each work team, he is highly trusted to his professional employees, at mean time, the employee get a stronger sense of encourage than a good working environment. Eric get a vehement support from his employees during company developing time virtually. Above two theories of leadership can not explain the leadership style of Eric Schmidt well, in order to give more thoughtful explanation. We appoint the third theory-Situational theories. One of situational theories is Fiedler contingency theory. This model asks the estimate of both the leader’s style and three broad characteristics of the situation:leader-group member relations, task structure, and position power. Primarily, In leader-member relations of Eric and his employees, it easy to prove they are real great, as the organization structure which Eric made, he and his employees have highly trusted with each other. That also can relet to situational leadership theory, his subordinates have enough ability to achieve his requirements, and he do not need to give too much guide to them. Secondly, the task structure is very clear in Google until now, Eric insists his 70:20:10 structure for the engineering development group. Thirdly, the position power of Eric is not very stong, because he give a part power of decision-making to every engineering development teams. Conclusion: All in all, Eric Schmidt is a intelligent, professional, and accommodating leader. As we know that the Google culture is freedom and innovation since two originator of Google Sergey Brin and Larry Page starting the Google company until Eric been invited to be a CEO of this company, this culture never change. Eric’s experience is also perfect for the Google, first advantage is that he has a B. S. degree in electrical engineering at Princeton University and a phd degree in EECS at the university of California, Berkeley. These professional knowledge makes big different with normal CEO for the Google company. Second one is his ideal working experiences, before he came to the Google, the companies that he worked are all IT companies. Effectiveness is a habit, that is a complex of practices. The most significant thing is that he can run these companies very well and make outstanding achievement. Eric Schmidt makes the two originator believe he is the prefect role for The Google CEO. No matter using what theories to analyse the leadership of Eric Schmidt, he has proved that he is a suitable leader for this company during his career of Google CEO. Comparing with the famous Steve Jobs, Eric is not charming and distinctive as Jobs, but his leadership style is more appropriate for the Google Company. References: Koontz H. The management theory jungle[J]. Academy of Management Journal, 1961, 4(3): 174-188. Drucker P F. People and performance: The best of Peter Drucker on management[M]. Routledge, 1995. Stogdill R M. Leadership, membership and organization[J]. Psychological bulletin, 1950, 47(1): 1. lan Brooks (2009). organisational behaviour. 4th ed. Essex: Person Education Limited. p167.

Financial Markets in Pakistan Essay

A financial market is a place for buying and selling of financial securities such as stocks and bonds. It facilitates: * The raising of capital (in the capital markets) * The transfer of risk (in the derivatives markets * In matching those who want capital to those who have it. Financial Market in Pakistan consists of (i) Money Market which provides short term funds and (ii) Capital Market which makes long terms funds available to businesses and industries. The Financial market can be reclassified into (i) Primary Market in which new shares or bonds are issued and (ii) Secondary Market in which securities previously issued are traded such as Shares, Bonds, Commercial Papers, Options and Mutual Fund. Of this, the banking sectors and non-banking sectors are regulated by the central bank, State Bank of Pakistan. While rest of the market (lease, stock exchanges, modarba, mutual funds and insurance) is regulaled by Secruities and Exchange Commission of Pakistan. FINANCIAL MARKETS AND THEIR ROLES: COMMERCIAL BANKS A type of bank providing checking and saving accounts, credit cards and business loans. Such a bank induces general public to deposit their savings in the banks and offers a wide range of services such as: * Deposit Mobilization * Money transfer * Financing Working Capital * Financing other trade related mode (import and export) * Investing in government securities * Call money operations These banks are of three categories (i) Public Sector Banks, (ii) Private Bank and (iii) Foreign Banks. LEASE -FINANCE EQUIPMENT INVESTMENT BANKS Investment banks perform a variety of functions. Primarily, they assist corporations to raise equity-capital by underwriting the public issues. They also assist companies desiring of mergers and acquisition and derivatives. In addition, they provide services like trading of derivative, foreign exchange, fixed income instruments and shares listed on the stock exchanges. Such banks cannot take deposits. They manage their affairs by charging fees such as (i) retainer fee, (ii) advisory fees based on the transactions, (iii) commission on underwriting and (iv) other financial services. PICIC was once a premier development in Pakitan but has merged with a commerical bank. BOND MARKET OUTLOOK DEVELOPMENT BANKS These banks provide guidance in selection of industrial units and extend direct financial assistance to partly cover their financial requirements. Also, they engage themselves in promotional activities to attract investors towards neglected sectors through publishing brochures and research papers. Besides, they help in assessing feasibility of potential projects. Such banks are responsible for speeding up the pace of economic growth in the country in conformity with the national objectives, plans and priorities. Their core functions are: * Direct financial assistance * Catalytic function * Mobilization of domestic savings * Ensuring balance regional and industrial growth * Expanding entrepreneurial base by encourage new comers At one time, there were 14 Development Banks in Pakistan. However, most of them have been closed one after another as their bad debts mounted up. It is natural as they take substantial risks in promoting new types of industrial projects in underdeveloped areas sponsored preferably by new-comers. Nevertheless, their contribution brings fruits to the economy in the shape of successful industrial units and transfer of technology. At present, 8 development banks are operating which mostly are joint-venture with other Islamic Countries. MICROFINANCE BANK A microfinance bank would cater to the credit needs of poor households and their small enterprises. Thus microfinance bank provide credit to those poor who are not considered creditworthy by the commercial banks and other financial institutions. On the other hand, the microfinance bands recognize every single human being as a potential and creditworthy entrepreneur. In addition, they provide basic training in start of a small business, simple book-keeping and accounting. The main aim of microfinance institutions is alleviation of poverty through helping poor persons to earn some money especially the women. ISLAMIC BANKS In Islam, it is prohibited to charge interest on any loan. However, it is acceptable to pass on funds to a needy person or corporation for trade purpose in which case profit could be shared on an agreed basis whereas loss should be shared according to the funds invested. Besides, there are certain businesses where any form of deal is forbidden like alcohols and pork. Accordingly, Islamic bank refer to a banking activity which is consistent with the Sharia, the Islamic Laws. Otherwise, there is no difference between the traditional banks and the Islamic bank. DISCOUNT HOUSES These are firms which buys and discounts bills of exchange, banker’ acceptance, commercial paper, etc. Discount houses also tender for treasury bills, deal in short-dated government bonds, and are an important part of the short-term money markets. INSURANCE COMPANIES Insurance is a hedge against the risk of a contingent and uncertain loss. In other words, it is the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. For this service, the insurer charges a fee called premium depending upon the risk involved. Besides traditional insurance companies, there are many Islamic insurance companies in Pakistan known as Takaful operators. Takaful is an Islamic insurance concept based on mutual co-operation, responsibility, assurance, protection and assistance between groups of participants. These companies believe in promoting the cause of Takaful as well as promoting the insurance business in a Shariah Compliant i.e. halal and absolutely Riba-Free insurance. STOCK EXCHANGES Stock exchange is a place where securities are bought and sold. Such securities include shares, derivative, unit trusts and bonds. It also provides facilities for the issue and redemption of securities. Prices of shares and bonds are influenced by their demand and supply like in other commodities. In order to list a security on the stock exchange, there are certain requirements. Transactions in the stock exchange are conducted by members only. Stock exchange serves both as a primary market for the initial public offerings and as a secondary market for their subsequent buying and selling Investors are not bound to sell stock or bond through the stock exchange. They can directly deal with the seller. Similarly, there is no compulsion that stock must be traded on the exchange. The securities can change ownership out of the exchange which is called ‘over the counter† or â€Å"curb dealings.† LEASING It is a contract where owner of an asset agrees to allow someone to use it for a fixed rental. It can be for fixed or indefinite period of time. It is a binding contract which sets out terms of lease agreement between the owner and the user. Leases are of various types mainly (i) a financial lease and (ii) an operating lease. The financial lease is long-term and non-cancellable contract where the user assumes some of the risks of ownership and has the right to keep the assets or get it transferred to its own name after fulfilling the necessary conditions. In operating lease, the owner transfer only the right to use the assets which is returned back at the end of the lease. There are some other types especially in the aircraft industry like wet lease and dry-lease and. In wet lease, a company agrees to provide an aircraft along with pilot and crew and would be responsible for the maintenance of the aircraft. Dry lease, on the other hand, refers to leasing only the aircraft. MODARBA If is a form of partnership which has two distinct parties: (i) the financier and (ii) the manager. The financer takes no part of management of the business. The profits are distributed among the subscriber while the manager is paid the usual salary. Modarba is one the modes of Islamic finance. It is like mutual fund minus its un-Islamic features. Not only in Pakistan, the Islamic financial services industry has witnessed a phenomenal growth all over the Islamic world. In particuar, the Modaraba Sector has been able to create a market niche for itself in the corporate sector. This model is enjoying a unique recognition due to its well designed structure with proper rules and regulations defined by the regulators. It has proved its resilience in this time of global financial turmoil. MUTUAL FUND It is a professionally managed type of pooled investment for acquiring securities like stocks, bonds, marketable securities and commodities. The profit is distributed by way of dividend to all investors. Financial market in Pakistan experienced boom conditions in1991 due to liberalization policies of the government. There was a manifold increase in the number of listed companies; number of commercial banks, local and foreign and financial instruments like commercial paper. But it has still to develop and a number of suggestions have been made: * The public sector should reduce its dependence on State Bank of Pakistan. * The infrastructure projects should be financed through domestic bonds of longer maturities (10-20 years). * The financial sectors (capital markets, micro credit, banking and non-banking sector) should have a better and more clearly delineated division of responsibilities. * Foreign institutional investors should be encouraged to take up (i) private equity funds, (ii) private pension funds, (iii) provident and gratuity funds and (iv) Real Estate Investment Trusts. * Mortgage financing should be encouraged.

Facts, Fiction and Ib Economics Extended Essay Topics

Facts, Fiction and Ib Economics Extended Essay Topics Ib Economics Extended Essay Topics and Ib Economics Extended Essay Topics - The Perfect Combination The new assessment criteria is on the IB site. The important thing here is that the comparison has to be significant. Understanding of the topic is crystal clear and coherent. Take into consideration your strengths and weaknesses. The Chronicles of Ib Economics Extended Essay Topics You might think that it is only the cover of your essay, but it's an important component, and you ought to treat it correctly. A protracted essay is one which you won't finish overnight. It is one of the most important parts of your IB Diploma. It is a type of academic writing assignment, which success depends on the structure. Therefore, if there's any reason why you cannot have your extended essay written on time yourself, all you have to do is place your order on our site, and leave the rest to us! Here are a few lists of drawn-out essay topics that you are able to check out and choose from. Taking economics extended course requires you to have a deeper comprehension of economics. The very best method is to check through some excellent extended essay examples. In such a situation it might be recommended to find professional extended essay aid. This kind of essay isn't the easiest one to cope with. At length, the essay is going to be submitted to IBO, where it's going to be checked and assessed. Use standard few paragraphs for such an essay. Our IB internal assessment help tutors are ready round the clock to supply insights and will assist you in research so that you might finish your IB assignments in a brief moment. Some schools will provide you with a timeline of when you must develop a topic, when you will need to meet up with your advisor and when certain drafts are due. Welcome to the very best IB economics extended essay help support. A great research question is imperative to a decent Extended Essay. Among other requirements for the drawn-out essay, there's a point about topics. As soon as you select a topic and approve it, you'll need to get started working on your writing. The next matter to discuss is a protracted essay format. If you're searching for a Ib English written task writer who can assist you and direct you in picking out the topic together with help in structuring Written Task 1 and Written Task 2, you might contact us. Do not compose a lengthy compound sentence if it is possible to write it as two distinct sentences. The language ought to be mostly your own. Don't use idiomatic language. Many students don't have outstanding research abilities. They do not have expert writing skills. Too often students require the world wide web for every one of their secondary research. High school students who complete the programme receive a chance to produce their college application seem more attractive for the committee, and obtain some distinctive interdisciplinary understanding.

Tourism Crisis Management Free Essay Example, 2000 words

Many models conceptually have a basis assuming that a crisis goes through a number of consecutively occurring stages, in essence following a particular life cycle. However, in reality, crises and disasters more often than not occur suddenly, without warning and a target position can immediately enter the emergency phase, by-passing the prodromal and pre-event phase and require- in a rapid reaction. Indeed, the alarm caused by the dramatic imminence of such events may prompt inappropriate decision-making and confusion(Pender Sharply, 2004). Explicitly, various models propose that risk assessments should be undertaken. On the basis of the analysis of the scenario, contingency plans should then be established in accordance with those circumstances considered likely to occur. Nonetheless, with exception of some specific events, such as hurricanes in the Caribbean, most tourism crises are often unpredictable in their happening, evolution and impact. The most problematic issue is the identification of potential or predictable crises. As a result, scenario planning can be consuming in terms of time, costly and in some unfortunate cases ultimately, fruitless. Undeniably, it is observed that contingency planning might result to complacency and paralysis upon the occurrence of an unexpected event (Evans Elphick, 2005). We will write a custom essay sample on Tourism Crisis Management or any topic specifically for you Only $17.96 $11.86/pageorder now Therefore, although there are diverse categories of crisis, for instance, a terrorist attack which might be anticipated and ready with established protocols, the evidence suggests that risk assessment and the following scenario planning may in totality be null and void given the unpredictable nature of most events. Conceptual framework of tourism crisis managementRegardless of the increase in activity in the past years, there are, arguably, still only a limited number of publications on crisis management particularly in the field of tourism, which discuss the concept systematically and holistically