Financial Distress Essay Example | Topics and Well Written Essays - 500 words

Financial Distress - Essay Example The inevitable natures of factors which interplay and caused this financial turmoil on a global scale make business decisions difficult especially in areas of retrenchment. For a university which had been in operation for 164 years since its foundation in 1845, Cornell University is not exempt from the global financial crunch. As such, strategies and efforts are being evaluated to assess the possibility of retrenchment to ensure the very survival of the organization. It is in this regard that this essay is written to explain the circumstances of the financial distress and to outline an action plan where the principles of retrenchment would be implemented in order to restore equilibrium. In the year end statement written by the president of Cornell University, David J. Skorton on July 1, 2009, he identified the following effects of the global financial crisis in Cornell University, to wit: (1) a looming budget shortfall in one of its major colleges, Ithaca; (2) a 27% reduction in endowment (â€Å"reducing base budgets across the university; drawing down uncommitted fund balances; reducing endowment spending by 15 percent; implementing a construction pause, during which we reconsidered a number of proposed new projects, and decided not to pursue over $662 million in incremental capital expenditures; implementing an external hiring pause, which preserved opportunities for current Cornell employees who lost their jobs; and responsibly reducing our workforce†) and (3) a reduction in the cost of university administration in order to focus precious resources on core activities of teaching, learning, discovery, scholarship and outreach, among others. (Cornell Univer sity, University Statements, 2009) The university applies the following principles of retrenchment: (1) Selective Retrenchment Efforts where the university will use curtailment or reduction of selective activities, functions or

Sample Items Form the Multifactor leadership questionnaire(MLQ)Forms Personal Statement

Sample Items Form the Multifactor leadership questionnaire(MLQ)Forms 5X-short - Personal Statement Example A broad range of leadership styles is measured through Multifactor Leadership Questionnaire. For example, behaviors like active versus passive leadership may be an agenda of measurement through the standard multifactor scale which is preset or prescribed. It helps in discovery of traits of discrete transformational leadership behavior as well as individual measurement to assess them. The entire package is consisted of four major leadership assessment areas, which are transformational leadership, transactional leadership, passive or averse and outcomes of leadership. These qualitative variables are further quantified in to number scales in order to get discrete results. In the four heads, there are forty five statements in total which are used to infer the results in self rater form. There are five quantitative scale readings to identify the Here a person needs to take the questionnaire that leads to a standardized benchmark system to develop the assessment of individual leadership behaviors. It is a leadership report which provides road map to get a brief progressive report. When I took the test so far, I was more concerned to know my team work behavioral report. It was quite shocking as well as very much relevant to what I was seeking. The leadership is a behavioral trait which is not commonly found in everyone. When we talk about transactional leadership, contingent or conditional reward system and management by exception active turns in to action. There are several up shots of the transactional and transformational traits which are intended to check out. Leadership attributes individualism versus collectivism and attitudes are considered in the category of transformational leadership style. In organization, a leader always needs to talk about collective interests rather than his or her personal goals. Averse leadership behavior is so bad and boring for company’s development and well-being. No matter how adverse is the situation or scenario?