Organizational and Individual Assessment Report Essay

Organizational and Individual Assessment Report - Essay Example He claimed that the unknown troubles many people; nonetheless, in his leadership position he used the unknown to attain achievement (Schwartz & Gimbel, 2010). For instance, he was one time forced to come up with a shotgun at an instant in order to fight an enemy. He said he used his wit to mix up gunpowder and came up with a shotgun that was used to achieve an unexpected success. He added that people should embrace the unknown and be willing to learn things on a daily basis. Moreover, he also demonstrated that we should be open minded to new ideas and challenges in order to become respected leaders within the society. The second leadership style he applied was to have advisors with diverse worldviews. The captain claimed that he applied advices from a close friend who was a commander and a civilian who was more engrossed into scientific studies. He incorporated advises from both individuals in that they both presented different views when it came to giving advice. Most of the time, t heir advise spark arguments but the captain normally takes his time to assess them and puts into action the advice he perceives to be the best. By having advisors who are different from each other makes him consider himself the best leader (Schwartz & Gimbel, 2010). ... For one to be successful risk taking missions ought to be partaken. The captain was involved in a number of risky missions, and he ensured he was involved in the teamwork. Through teamwork, nothing is impossible and the captain ensured he maximized the power of the team to tackle difficult situations. Therefore, as a leader one ought to be strong to face life risks and challenges (Schwartz & Gimbel, 2010). Through his leadership style and management philosophy style, we learn that for one to be considered an incredible leader we need to keep exploring and learning encouraging others to be creative and innovative by incorporating advice from people with diverse backgrounds. In order, to gain trust and loyalty leaders ought to work with subordinates so that the leader can understand the needs and problems of workers. Risk taking and learning how competitors function is also crucial. By learning how competitors work an organization is able to work in an advanced way. The captain has a c ivilian law bachelor’s degree from Harvard University. He went through physical test before being recruited for training. After the basic recruits, training the captain joined the candidate school where he became a second lieutenant after graduation. as a second lieutenant he was given instruction which were in association to overall mission and purpose of the officer’s branch. This stage assisted the captain to develop leadership skills through working with troops. After a period of four years, he attended captain’s career course and he also requested to pursue his masters at this stage. The captain phase takes more than ten years for one to be promoted to the next rank. The captain was involved in commanding roles and taking

US moving to IFRS. (International Accounting) Essay

US moving to IFRS. (International Accounting) - Essay Example   Albrecht affirms that the best way to determine the viability of adopting a new course of action is by use of incremental analysis in which the benefits of the change should outweigh its cost. The decision of the US moving to IFRS has triggered a lot of debate, with many participants narrowing its effect to the various parties. Among them are the investors whose protection is included in the SEC mission. According to Albrecht two key elements defining financial markets under the U.S. GAAP are the low cost of seeking capital and the highest ROIs as compared to other markets in the world. This has to a major extent been attributed to the good rules that have been developed, challenged and shaped for several years, which has led to â€Å"bright lines† in reporting unlike in IFRSs where managers can manipulate numbers. If the adoption occurs the U.S. companies may experience a reduction in market value in stocks and bonds to unknown levels. According to Parks the cost of adoption could be approximately $32 million per company. In fact British Petroleum CEO said that for his company $100 million was spent for the first year and roughly $150 million for the second and third year. This is a huge cost against revenue and it’s likely to affect the profit margins and consequently returns on investment. Finally on the costs, in the U.S investors and accountants will need to learn how to read and interpret the financial statements prepared using IFRSs. This will need resources in terms of money and time to cover millions of these people. The benefits to investors will be an expected reduction in audit fees whose effect will be felt as years pass by, as auditors will have to take corporate numbers at face value. Based on this analysis the cost are more tangible and seem to outweigh the benefits hence the move would not really benefit the