Climate Change Business Risks and Consequences - MyAssignmenthelp

Question: Discuss about the Climate Change Business Risks and Consequences. Answer: Introduction: Seven west Media Ltd is a listed company in the ASX and is one of the largest diversified media business in Australia. The company was formed after West Australian Newspapers acquired Seven Media Gruop. The company has dominance in the media industry, having a leading presence in radio, television broad cast, online and magazine publishing as well as newspaper publishing(Advanced audit and assurance, 2013). The company has grown to be the largest commercial television network in Australia and is still making moves to create value to its shareholders by merging and acquiring various companies to boost its bottom line. The company announced that it intends to merge with West Australian Newspaper Holding Ltd (WAN) in a bid to increase its market share(Audit and assurance services (UK), 2007). Companies face all kinds of risks, some are likely to cause serious losses or even bankruptcy. Seven media Ltd has put up departments that deal with risk management. The following are the risks that Seven West Media Ltd faces in the environment that it is operating under. In a world where changes are occurring everyday that may affect the business, it is important for a business to have proper and well laid plans that may counter technological changes, new media companies entering the market, shifts in customer demand and changes in price of raw materials. This is why Seven West Media Ltd has been merging and acquiring other companies to minimize this risk(BPP LEARNING MEDIA., 2017). Laws change all the time and there is always a risk that a company will be required to comply with additional laws and regulations in future. The company should ensure that it complies with all the necessary laws of the land because it may risk closure. Being a company that is listed in the Australian Stock Exchange, the company faces numerous laws for its shares to be traded in the bourse. Australia has put in place many laws to regulate the media industry and others laws are still being made, thus the company faces the risk of not complying with new laws of the land. The company still faces compliance risk by expanding the product line(Audit and assurance (United Kingdom), 2012). This is an internal risk that stems out of the companys day to day operations. The failures of the company, for example, server outage, machine break down, technical failure, people and processes are all forms of operational risks. For a media company, such failures can result to huge losses in terms of profits and market share. In some instances, operational risks may stem out from events that are out of control by the company such as power cut, natural disaster or even a problem with the companys website host. This is why the company needs to put in place measures that may mitigate against this type of risk(Bagshaw, n.d.). This is type of risk refers to the money flowing out and into the company and the possibility of loss of finances(Graham, 2008). For example if a substantial part of the companys profit coming from one stream and debts from the financiers. Business risk industrial level Business risks can be included within the strategic risks of an organization. Strategic risks are risks that arise from the strategic position that the organization takes in the environment in which it develops its activity, therefore they have a double source: on the one hand the own strategic decisions that the organization takes and on the other the environment in that these decisions materialize. In that sense, we can distinguish business risk fro economic risk(Mesa Graziano and Holtzman, 2005). Business Risks: Risks of strategic decisions about products and services or about the organization itself. Non-business risks: External risks arising from the organization's environment, for example from competitors, regulators, public authorities, society, Compliance risks- in the media industry, compliance with the rules and regulations of the industry is required. The relevant regulatory authority must ensure that the laws are followed for compliance purposes. Failure to comply will lead to punitive measures and actions against the media house. Financial risk- this is the risk that the company faces due to its failure to comply to its financial needs. Financial risk leads to crippling of the company in terms of its financial requirements and operational inefficiencies. Operational risk is also another risk that seven can face in the business and the industry due to inability of the company to efficiently do its business. The operations of the business will lead to risks that are either inherent or outside the scope of the company(Mesa Graziano and Holtzman, 2005). Reputational risk- can be brought by the company having a bad name and it takes time for it to recover the good name that it previously had When the auditor supports his or her work with the use of the work of an expert does not mean that when expressing an audit opinion diminishes the responsibility of the auditor, however, the auditor may conclude that the expert's work is adequate for his purposes and accept the findings or conclusions in the field of expertise of the expert as a valid argument in the audit for support as evidence(Carey and Stulz, 2006). When management has made use of the work of an expert for the preparation of financial statements, the auditor may, as previously stated, determine whether it requires the use of the work of an expert or not, but this does not negate that there may be some kind of influence on the procedures performed by the management expert, their scope, objectives, capabilities, competencies and so on with respect to the auditor, thus enabling the auditor to make sound decisions in accordance with the referents previously consulted. Nature, timing and scope of audit processes: When using the work of an expert, it is possible that the risk of detecting significant risks may increase, as there may be limitations of knowledge in certain particular fields other than accounting or audit that the management or the auditor cannot unravel in a simple way. Although the auditor who is not an expert in a relevant field other than accounting and / or auditing may obtain sufficient training, which may be the result of experience in other auditing entities that have required expertise in a particular field in the process of the financial statements, or in the same way the auditor can obtain it with education, courses or other moments that have allowed him to have an understanding in a particular field, so that the auditor can perform the audit without the use of an expert. Preliminary Analytical Procedures Liquidiy Ratio Specific ratio Formulae 2016(in millions) 2015(in millions) Current Ratio Current assets/ Current Liabilities 631/460=1.37 574/412=1.39 Quick Asset Current assets-inventory/ Current Liabilities 631-22/460=1.32 574-22/412=1.34 Cash flow ratio Cash flow from operations/current liabilities 202/460=0.44 283/412=0.69 Preliminary Analytical procedures Ratio Specific ratio Formula Year 2015 Year 2016 Profitability Ratio Net profit ratio Profit Margin = Net Income / Net Sales (revenue) (386)/2780 =(0.139) 197/2828 =0.07 Return on total assets ratio ROTA= EBIT/Total Net Assets Where EBIT= Net Income + Interest expense Tax (768)/5361 =0.143 208/5231 =0.039 Return on shareholders equity ratio RSE= Net profit/ Shareholders Equity (386)/2797 =(0.138) 197/2655 =0.07 Solvency Ratio Times interest earned ratio TIE= EBIT/ Interest expense ( 768)/103 =( 7.45) 208/94 = 2.212 Debt to equity ratio Debt to equity ratio= Total Liability/ Total Equity 460/1195 =0.385 412/1253 =0.329 Trend Analysis 2016(in millions) 2015(in millions) Increase/decrease %change Revenue 1721 1770 -49 49/1770=2.7% Income 184 (1881) 2065 109.8% Net cashflow from operating activities 202 283 -81 28% Expenses 561 579 -18 3.1% Cost of sales 675 694 -19 2.7% The ratios in liquidity seem to be decreasing from 2015 to 2016. The current ratio drops from 1.39 to 1.37 in 2015 and 2016 respectively. In this case the company is doing well although marginally. The company has started to be profitable in 216. In the previous year 2015 it was running at a loss where all the profitability ratios were a negative ratio. In 2016, the company is doing well. Times interest earned ratio increases in 2016 but the debt to equity ratio decreases in 2016. This means that the company earned well in 2015 but reduced its interest earning in 2016. Fraud in a company is almost prone to happen if a company has weak internal control systems to militate against fraudulent activities. A company may face the following fraud risk ; Financial fraud- this is the most common type of fraud faced by companies in the media business and industry. It is orchestrated by rogue employees or external forces that are willing to gain financially from the company. Seven has strong internal financial controls that help in safeguarding and securing their finances. Other fraud may include insurance fraud, fraudulent statements or misstatements of financial reporting and bankruptcy. In this cases of fraud, International audit standard 620 basically defines the auditor's responsibilities when he is auditing the financial statements and finds certain areas in which he does not have the capacity to dictate, due to the limitations in specific knowledge detected, for which he links the work of a person or specialist organization in a field other than accounting and auditing, ie the work of an expert who is characterized by sufficient skill, knowledge and experience in that field and that in some way this procedure seeks to assist the auditor to obtain sufficient appropriate audit evidence(Atkinson, n.d.). Going concern is the assumption that a company will continue to be operational in the foreseeable future.It is important to note that there are many risk factors for the going concern assumption and that the company may risk its operational ability(Berk and DeMarzo, 2017). The risk factors of seven in going concern include the following; financial fraud that may affect normal business operations of seven rendering it nonfunctional and almost defunct. Regulatory and compliance risk where the regulator which is usually the government in many cases comes up with strigent measures that affect the media leading to closure of business. Other risks include business risk where the environment becomes non conducive leading to the company being a gone concern(Krainer, 2003). Competition is a risk factor that emanates from related parties. This is because seven will face a lot of competition from the industry peers and therefore being a risk factor.? Inherent Risk Assessment Inherent Risk Accounts and Assertions Affected Reason Audit risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved. The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Operational risk Profit and loss account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Financial risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Business risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the business risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Compliance risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated by Seven company. Reputational risk Good will account of the company- and the assertions are that a lot of financial resources will be put into the rectifying the good image of seven involved. The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Inherent risk level of Seven Inherent risk in the Audit of Seven West Media Ltd financial statements is high because the company operates in a sector that is highly regulated and also because the company has a network of other related entities such as its subsidiaries which could be misrepresented in their financial statements in the absence of relevant financial controls. Inherent risks for the audit of Seven West Media ltd is also high because the audit firm that is conducting the audit has a relatively less understanding of the company(Brealey, Myers and Allen, 2017). Ownership structure: the ownership structure of seven as a listed company is reasonable corporate governance mechanism that ensures that there is effective functioning of the internal controls systems. There is centralized and decentralized ownership, where majority of of equity is held by individual shareholders and there is no balance between interest of the shareholders and the largest shareholders who at times abuse their control which is a serious impediment to internal control(Van Frederikslust, Ang and Sudarsanam, 2008). Validity of interior control: The companys board of directors is an important part of corporate governance of the organization. Their characteristics have a significant effect and impact on the internal control of the company(Stoner and Wankel, 2012). Conclusion The control risk level of Seven West Media ltd is low. This is because as a listed company, the company must have proper controls to achieve required standards of financial reporting and disclosure objectives. There is a corporate code of conduct, procedures and policies , fraud prevention efforts and other activities put in place to reduce any chance of fraud in the company. References Advanced audit and assurance. (2013). Wokingham, Berkshire: Kaplan Pub. Atkinson, S. (n.d.).The business book. Audit and assurance (United Kingdom). (2012). London: BPP. Audit and assurance services (UK). (2007). London: BPP. Bagshaw, K. (n.d.).Audit and assurance. Berk, J. and DeMarzo, P. (2017).Corporate finance. Harlow: Pearson Education Limited. BPP LEARNING MEDIA. (2017).ACCA F8 AUDIT AND ASSURANCE. [Place of publication not identified]: BPP LEARNING MEDIA. Brealey, R., Myers, S. and Allen, F. (2017).Principles of corporate finance. New York, NY: McGraw-Hill Education. Carey, M. and Stulz, R. (2006).The risks of financial institutions. Chicago: University of Chicago Press. Eckbo, B. (2008).Handbook of corporate finance. Amsterdam: North Holland. Graham, L. (2008).Internal controls. Hoboken, N.J.: John Wiley Sons. Krainer, R. (2003).Corporate finance, governance and business cycles. Amsterdam: Elsevier. Mesa Graziano, C. and Holtzman, M. (2005).Management's reports on internal controls. Florham Park, N.J.: FERF. Stoner, J. and Wankel, C. (2012).Managing climate change business risks and consequences. Palgrave Macmillan. Van Frederikslust, R., Ang, J. and Sudarsanam, P. (2008).Corporate governance and corporate finance. London: Routledge.

The Number One Article on Ielts Essay Samples Band 9 Liz

The Number One Article on Ielts Essay Samples Band 9 Liz Want to Know More About Ielts Essay Samples Band 9 Liz? To take a very simple example, if you're writing about the pros and cons of something, you might want one paragraph about each. It follows clearly from the prior paragraph that has highlighted these 2 nations. Again, take a look at some of the model essays to view how each body paragraph clearly has one central topic. The War Against Ielts Essay Samples Band 9 Liz We're keen to meet the requirements of our customers. You don't have to be worried about your personal details that could be viewed, as we handle the matter on a safe network. Secondly, Facebook also has social groups that offer individuals an opportunity to meet and take part in discussions with individuals who share common interests. All About Ielts Essay Samples Band 9 Liz Looking at IELTS essay topics with answers is a significant approach that will help you to get ready for the test. Therefore do n't get intimidated if you believe you cannot write such essays. At our essay assistance, essays are always delivered in a brief moment. These high score model essays will allow you to know how to answer the essay questions and the way to structure your writing. There is an extensive selection of rather natural vocabulary required to spell out a graph and there aren't any spelling mistakes. The lists are started for you. Moreover, we additionally provide proofreading and editing services. You're arranging a business trip to a different city. The free movement of products across national borders has for ages been a controversial matter. On the flip side, it's apparent that the disadvantages of nuclear technology are significant both when it comes to weaponry and as a power supply. It would be an immense shame if art students couldn't see their favourite painters or sculptor's work in actual life because their finances couldn't cover the price tag. By using our website, you agree to our set of information through the usage of cookies. Your paragraphing is superb. Task 1 1 Describe the issue with the jacket. Individuals often take the overall training module if they're meaning to work or live abroad. Task You own a bicycle that you're no longer using. What You Need to Do About Ielts Essay Samples Band 9 Liz Starting in the Next 10 Minutes The opening paragraph has all of the important info about the graph but itparaphrasesthe question. Exhibits are among the few cultural activities they may enjoy at no charge. The Key to Successful Ielts Essay Samples Band 9 Liz You will require a selection and mix of these for an IELTS band 7, and you're going to want to be capable of using them effectively with some flexibility in place of mechanically. This page is going to teach you just how to maximise your IELTS writing task two score. You shouldn't use the eBook continually for a number of hours without breaks. Click the RED BAR on top of this site to access the principal pages for IELTS preparation. The Ielts Essay Samples Band 9 Liz Trap I n summary, both beneficial and detrimental results on local people and the environment can be viewed as a consequence of the increase in trips to distant regions. There are several ecofriendly technological alternatives to what society employs today that are not as damaging for nature. Also, certain sorts of information in the incorrect hands can be devastating for society. Another large negative is that students and kids that are learning about the world might not be in a position to go to. There are several smart scientists who don't have the funds to acquire important info to finish their research. Preventative medicine has been shown to be absolutely the most efficient means of decreasing the incidence of fatal childhood diseases. When they aren't paid for this work, they can't generate science. A more severe issue is that the high price tag of a university education will signify that lots of families are reluctant to have more than 1 child, exacerbating the falling birthrates in some specific countries.

Specifying Essay Topics For Science, CGS, and CLE Classes

Specifying Essay Topics For Science, CGS, and CLE ClassesAlthough the results of the SAT and ACT may be in, it's still a good idea to come up with as many descriptive essay topics for SCIENCE, CGS, and CLE classes as possible. This will ensure that you're well-prepared for the exam. After all, the knowledge you gain in SCIENCE, CGS, and CLE classes will also help you score well on the Science aptitude section of the SAT.Of course, some students are choosing to take more science courses than others. The lower percentage of science majors means that students who study and prepare for SCIENCE and CGS subjects will be able to focus their attention on the subject matter more efficiently. Furthermore, as science majors generally have higher math aptitude, the more science topics they can focus on, the better.Having said that, different science classes require different science topic choices. For example, biology is a subject that requires using words such as 'allotment,' 'mushroom,' and 'e ukaryotic.' Chemistry, on the other hand, needs terms such as 'cyclic n-alkane molecule,' 'iridium,' and 'chlorine.' All of these terms represent various physical chemical elements and chemicals that you'd need to describe to the SAT or ACT.Another thing to consider when choosing your essay topics for the science and CGS classes is whether or not you'll be learning about these subjects through laboratory work. It can be helpful if you're taking a chemistry class where laboratory activities are included, but you should still be sure to write about these types of topics. If you're unsure of how to accurately describe things, don't worry - just read some samples online and you'll be able to get a better understanding of how to do so.Finally, in order to get into a top college, you need to have the writing skills that allow you to clearly express your ideas and opinions. Some students choose to write simply because they want to write. Others choose to write because they really want to i mprove their writing skills.For some people, good examples are helpful. For others, it's just a matter of research. Regardless of why you choose to write about a certain topic, it's always a good idea to find samples online. Just remember that you're not going to learn anything from an example, you're going to learn from examples - and you'll be able to follow along and practice when you're done.Reading and practicing are an important part of getting better at science and math. When you're done studying and practicing, remember to come back and start incorporating more descriptive essay topics for the science and CGS classes. This will help you score high on the SAT or ACT.In the end, you should always strive to improve your score on the SAT or ACT by at least one standard deviation. By preparing yourself for descriptive essay topics for SCIENCE, CGS, and CLE classes, you'll be on your way to a better score.

New Step by Step Roadmap for How to Start a Research Paper Introduction Examples

New Step by Step Roadmap for How to Start a Research Paper Introduction Examples Whatever They Told You About How to Start a Research Paper Introduction Examples Is Dead Wrong...And Here's Why In the event you would like to change of improve any portion of your paper, you're welcomed to revise your customized essay until it is simply perfect. Just like with another type of writing, it is essential to initiate a research paper with an intriguing sentence. Be aware that what constitutes a great introduction might vary widely based on the type of paper you're writing and the academic discipline in which you're writing it. Rather than covering everything, your essay introduction must tell that the whole paper is going to be on Homer's Odyssey or medieval goldsmiths from the whole history. The Battle Over How to Start a Research Paper Introduction Examples and How to Win It You may only understand how to do a research paper correctly once you have thoroughly understood the topic. Once you are finished with the technical portion of the research paper introduction, let us now make an outline of the structure. Such approach will allow you to make your research paper introduction attractive. As soon as your research paper introduction is done, you can begin working on the remainder of the paper. When you're writing your research paper's introduction, you ought to be building it around a particular outline that supplies a general review of the paper. Now that you've got your subject, you'll want to take into account your research paper outline to start. In order to acquire a great research paper outline going, you're going to want to first choose a topic which works for you. Whether you would like to make an APA research paper outline or another style of paper, you will need to think about your sources. Facts, Fiction and How to Start a Research Paper Introduction Examples Some of the greatest research paper introduction samples incorporate primary resources supporting the argument or research of the issue. The key purpose of introduction is to introduce to the reader the aim of your research. It can be hard deciding how to begin a career research paper if you are unable to decide on a topic. Your selection of topic significantly impacts the basis of your research. How to Start a Research Paper Introduction Examples - Dead or Alive? Sometime, providing your conclusion beforehand can enable the reader understand what things to look for as she reads the remainder of your paper. Some people realize that they will need to compose some sort of introduction so as to find the writing process started. The introduction is the face of your work that the reader will see first, which is the reason why it is but one of the most memorable parts of the whole work that must be ideal. Is crucial to begin the writing process. The very first step towards understanding how to compose a very good research paper begins with having a good idea of the way to begin writing. Once you believe you've got a terrific notion, it's time to begin thinking about your sources. It concisely yet perfectly captures the basis of the research for a whole. A rationale of the job has to be laconic and precise. The History of How to Start a Research Paper Introduction Example s Refuted Getting organized is crucial for students to compose a high excellent paper. As soon as your introduction is finished, you may now consider attacking the remainder of the paper. The learner was a confederate who'd pretend to get shocked. Needless to say, to compose a great introduction you should read an example, so here you are. You may believe that you've got to compose your introduction first, but this isn't necessarily true, and it isn't always the best way to craft a great introduction. A good introduction needs to be regarded as a very first impression. Writing an effective introduction can be hard. Each paragraph needs to have a single topic that comes from the thesis statement. The second endeavor of your introduction is to supply a well-rounded overview of prior research that's related to your topic. An amazing research paper introduction should make your reader feel like he's in addition to the essay topic you're going to discuss. After filtering out v arious choices, come up with the most appropriate topic and start researching. Second, state the hypothesis you would like to prove. You have to revise your paper to make certain that the introduction, each of the evidence, and the conclusion reflect the argument you intend. Make certain that your thesis is stated not just in the conclusion but in addition in the introduction and in the body component of your paper. In addition, the thesis statement needs to be precise and not too large.

Personal Motivation to Practice Osteopathic Medicine

Personal Motivation to Practice Osteopathic MedicinePersonal motivation to practice osteopathic medicine is a topic that has been brought up more each year. A lot of people ask how they can motivate themselves to follow their path as a doctor. There are so many individuals who have undergone surgical procedures and even passed the licensing exam and many of them are still in this program as well.Although people all over the world join professional organizations, they do not know what it takes to become an osteopathic physician. The idea of wanting to practice is really interesting for many individuals. They feel that becoming an osteopathic physician means having a lot of responsibilities.Many individuals take up careers of doctors in hospitals because they cannot afford to take their own time off. Many people might not want to have children yet, but they have to wait for them. The most common reason why individuals decide to join a medical professional association is because they do n't have enough money to pay for attending the schools that are required to become an osteopathic physician.When they learn that they have to start paying for their own life, they always consider quitting their jobs. It is not easy to start teaching yourself on your own when you don't have enough income. But if you find a solution where you can still maintain your income, you will be able to start teaching yourself on your own.This personal motivation is a difficult and demanding task to handle. It is not so easy to find out how you can achieve this goal. Some individuals join nursing homes because they would rather stay in bed all day and never have any physical activity. However, you have to remember that everybody has different needs when it comes to this type of profession.You need to know what it takes to be able to do what you love in your own self. It can be easy to get overwhelmed with the importance of this career. The challenge is that you need to become the best. Many peo ple choose not to think of how their personal motivation could improve their future and become the best person they can be.In order to be able to practice osteopathic medicine, you need to establish yourself as a professional. People often think that becoming a physician is about being a surgeon or a dentist. This doesn't mean that you cannot become an osteopathic physician.

Trait Approach to Leadership

Leadership is the ability to socially relate and positively influence others in order to accomplish a specified task. Traits are said to be innate qualities and inborn characteristics which helps to define a person. Therefore, trait approach to leadership assumes that good leaders have common characteristics and innate qualities which are inborn and makes them stand out in terms of leading and influencing others. This makes them political, military and social leaders as well as business managers.Advertising We will write a custom case study sample on Trait Approach to Leadership specifically for you for only $16.05 $11/page Learn More According to this theory, leadership is not learned; rather, it is to be found inside the individual. In this paper the author is going to look at Northouse Case Study 2.1. The case study will be looked into from the perspective of trait leadership model. In the paper, the author is going to select the theoretical model to be used in the case study, provide a description of the model selected and finally develop their own analysis or insights on the case. Various researchers have come to contradict this universality of leadership trait that distinguishes leaders from non-leaders (Northouse, 2010). Other scholars argue that personality traits greatly influence leadership and thus separate leaders from non-leaders. Charismatic and visionary leaders have a pattern of traits that makes them actively engage in management. They are motivated to attain self actualization and social power. They are able to exercise self monitoring. These traits make them effective leaders compared to average individuals in a leadership position. In an attempt to understand the relationship between leadership and personal characteristics, Stogdill (a scholar) carried out two surveys. The findings of these surveys are reported in Northouse (2010). The first survey done between 1904 and 1947 identified eight major characteristic s found in an outstanding leader. The survey concluded that a leader is a non-passive person who makes use of his traits to help him lead others and solve problems. In his second survey in 1974 Stogdill shows that there is a balance between trait and leadership meaning that a leader emerges as a result of both personal characteristics and the situational factors. These traits include taking responsibility for his decisions and actions, task completion, urge to pursue goals and remain on track. Others are self confidence, tolerance, ability to change others behavior and sociability. A similar study was carried out by Mann (as cited in Northouse, 2010) which came up with a tentative conclusion that traits can be used to differentiate leaders from non-leaders. On reassessing the findings by Mann using a sophisticated procedure (meta-analysis), Lord and his colleagues found that intelligence, dominance and masculinity are very significant to a leader and can be used as a basis of differ entiating leaders from non-leaders.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Appreciating this, scholars such as Kirkpatrick and Locke (as cited in Northouse, 2010) stated that â€Å"†¦Ã¢â‚¬ ¦it is equivocally clear that leaders are not like other people† (Northouse, 2010: p. 23). A qualitative synthesis from their work postulates that confidence, task knowledge, integrity, cognitive ability and motivation are the six traits that make up the â€Å"right stuff† for leaders. From the works of other researchers like Marlow and Zaccaro, it is noted that an aspect of social intelligence is associated with leadership traits. Intelligence is the ability of the leader to positively relate to others. These are verbal, perpetual and reasoning abilities, ability to solve problems and social-judgment skills. This means that the intelligence quotient of leaders should diff er widely from that of their subordinates for leadership to be effective. Another trait present in leaders is self-confidence. Such leaders have a high self-esteem, self-assurance and the belief that they can make a difference. Most of the leaders show determination. It is easier to get a job done by showing characteristics such as initiative, optimism, persistence and drive. Integrity is another common trait in leaders according to the trait approach to leadership. Leaders are trustworthy and honest. Such leaders are also principled and at the same time appear responsible as opposed to their non-leader counterparts. As a result of this, those who are led are confident of their leader’s capabilities. At the end of the day, those being led become loyal and trustworthy towards the leader. Lastly, the ability to associate with people from different social backgrounds and create a pleasant relationship is the last major trait of a leader. This trait is characterized by interperso nal skills such as tactfulness, friendliness, courteousness and use of diplomacy to solve issues. To summarize, trait approach to leadership lays emphasis on the crucial traits that a leader should have so as to realize effective leadership. Therefore, the leader and his personality are central to this model. If the assumptions of this model hold, the profile of leaders in an organization will be known ensuring that they are the right persons for managerial positions. There are several merits associated with trait approach to leadership. One of the merits of using this model is made evident considering the fact that since traits of an individual surface naturally, those who are bold enough take the managerial positions. In spite of leaders being different, they have traits which are viewed as gifts that enable them to carry out extra-ordinary actions. The organization can make use of this to achieve its objectives. This model benefits from the various studies that it has been subjec ted to for the past one century. As such it can be said to be credible as compared to other models. Also this model has set standards that leaders are judged against. It also provides invaluable information to managers, supervisors and subordinates which enable them understand their leaders in a deep and intricate fashion and be on the lookout for future leaders.Advertising We will write a custom case study sample on Trait Approach to Leadership specifically for you for only $16.05 $11/page Learn More On the other hand, the lack of a definitive list of traits that can be used to gauge leaders is a great challenge. This has brought about ambiguity and uncertainty at times. Some leaders (as earlier mentioned) emerged due to situations. These situations do rapidly change and this model has not factored in the effects of such changes. Critics of this approach argue that it cannot be used to train and develop leaders since training cannot raise their IQ. The approach emphasizes on the importance of physical and physiological traits which limits its usefulness in teaching and training leaders. Lastly, this approach has subjectively determined the major traits in a leader. It has as a result conferred meaning on these traits making them lose their original meaning. The author appreciates these shortcomings but taking into consideration the usefulness of other approaches, trait approach to leadership appears more credible. This is because these traits cannot be forged and history has shown that most leaders are bold and outspoken. They show integrity, self-confidence, determination and sociability. The frequent interaction with the management in an organization is very useful since it shows that the leader understands and respects the formal hierarchy. In order to fully exploit this approach, a personality test should be administered on all candidates so as to come up with the best overall leader. Reference Northouse, P. (2010). Leadershi p: Theory and practice. 5th ed. London: Sage Publications. This case study on Trait Approach to Leadership was written and submitted by user Wesley S. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Free Essays on Analysis Paper

and would steal. I guess it was just the way they grew up. I began to see that my family’s values were not the same values of all families. My family was the all American family until my parents separated. I had always had the influence of two parents in my household. My family also was pretty financially secure. I never wanted for anything. I always had what ever I wanted and then some. This made me be a little unappreciative. I also was picked on by my classmates because ... Free Essays on Analysis Paper Free Essays on Analysis Paper Abstract This paper will examine and analyze my life experiences using the concepts, theories, and paradigms that I learned in this class. It will discuss how I have developed my personality through the socialization process. I will also briefly discuss the affects and my affect on the environment and cultural considerations. I will be using Conflict Theory as my main theory to discuss my life choices and my overall development. All of this will come together using the concepts of person-in-environment, culture, groups, families, communities, and other concepts. Through everyday life we are constantly developing our personality traits, morals, and standards of life through the socialization process. My mother was a single. She divorced my father when I was seven years old. From there she was my mother and my father. She taught me the different values that life has to hold. This was only the beginning. Growing up I learned that my life and family was different from others. The students in elementary school were of a whole different world from me. I was raised as the only male in my family. I had two sisters and I always felt alone. I think this is why I grew up such a quiet child. Once I was in school I quickly discovered that my upbringing was totally different that many of the other kids I was in school with. I was taught not to curse or steal, however many of the children in my first grade class were liars and used curse words and would steal. I guess it was just the way they grew up. I began to see that my family’s values were not the same values of all families. My family was the all American family until my parents separated. I had always had the influence of two parents in my household. My family also was pretty financially secure. I never wanted for anything. I always had what ever I wanted and then some. This made me be a little unappreciative. I also was picked on by my classmates because ...