The Sarbanes Oxley ( Sox ) Essay - 2099 Words

In 2002, the U.S. Congress passed an act called the Sarbanes-Oxley (SOX) Act in order to protect people from possibly engaging in fraudulent accounting activities committed by public corporations. It is a reform that requires corporations to produce better financial documents in order to stop any future accounting fraud and contains provisions for companies to follow to prevent any corrupt behavior. SOX was created in response to major accounting scandals committed by corporations such as Enron. Enron Corporation was an American energy trading company who committed the largest audit fraud alongside Arthur Andersen and filed for one of the largest bankruptcies in history in 2001 after producing false numbers and committing fraud for years (â€Å"Enron’s Questionable Transactions† page 93). Enron failed to run an ethical business in multiple aspects. The executives of the company abused their powers by having board members not properly oversee its employees. Enron committed accounting malpractice by producing false financial reports to hide the debt from failed projects and deals. Using a mark-to-market accounting method, Enron would create assets and claim the projected profit for the books immediately even if the company had not made any profit yet. In order to hide its failures, rather than reporting their loss, they would transfer the loss to an off-the-books account, ultimately leading the loss to go unreported. Along with Enron hiding losses and creating f alse profit for theShow MoreRelatedThe Sarbanes Oxley Act ( Sox )1728 Words   |  7 Pagesaccounting scandals that led to the passing of Sarbanes-Oxley Act, which introduced the most comprehensive set of new business regulations since the 1930’s. The Sarbanes-Oxley Act (SOX) is an act that was passed by United States Congress in 2002. This act safeguarded investors from the likelihood of fraudulent accounting practices of publicly traded organizations by authorizing strict reforms to advance financial disclosures and prevent accounting frauds. With SOX being an extremely important piece ofRead MoreThe Sarbanes Oxley Act ( Sox )1604 Words   |  7 PagesThus, to respond to the public pressure over acts of corporate offense, the Sarbanes-Oxley Act (SOX) was enacted in 2002. SOX proposed major changes to the regulation of corporate governance and financial reporting by improving the accuracy and reliability of company disclosure. This essay will explain the effects of SOX on the financial statement fraud in an organization. Situation Prior to the legislation of Sarbanes-Oxley Act, the regulations of financial statement were much more lax than currentRead MoreThe Sarbanes Oxley Act ( Sox )943 Words   |  4 PagesThe Sarbanes-Oxley Act (SOX) was passed by Congress in 2002, and is administered by the SEC. The SEC checks for compliance and creates rules and requirements. The Act was created to restore investor confidence in financial statements after major accounting frauds, such as Enron, Tyco, and WorldCom. In addition, SOX aimed to prevent future accounting fraud through improving the accuracy of disclosures and through increasing corporate governance, accountability, and reliability. Major Provisions TheRead MoreThe Sarbanes Oxley ( Sox ) Act1995 Words   |  8 PagesThe Sarbanes-Oxley (SOX) Act was passed by Congress in 2002 to address issues in auditing, corporate governance and capital markets that Congress believed existed. These deficiencies let to several cases of accounting irregularities and securities fraud. According to the Student Guide to the Sarbanes-Oxley Act many changes were made to securities law. A new federal agency was created, the entire accounting industry was restructured, Wall Street practices were reformed, corporate governance proceduresRead MoreThe Sarbanes Oxley Act ( Sox )1202 Words   |  5 PagesBrief historical summary on SOX enactment The Sarbanes Oxley Act (SOX) was sanctioned in July 2002 with the objective of reestablishing public trust in the markets. SOX was promised as one of the opportunities for cultivating organizational ethics by clearly outlining the code of ethics. This included the raise of truthful and strong ethical behavior. SOX moreover, demands that corporate organizations to release codes applicable to the senior financial officer. Indorsing whistle blowing in theRead MoreThe Sarbanes Oxley Act ( Sox )2238 Words   |  9 Pages The Sarbanes-Oxley Act. An act passed by U.S. Congress in 2002 to protect investors and the general public from the possibility of accounting errors and fraudulent practices by corporations. The Sarbanes-Oxley Act (SOX), named after U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley, which contains eleven sections, mandated strict reforms to improve financial disclosures and prevent accounting fraud. The eleven sections of the bill cover responsibilities of a public corporation’sRead MoreThe Sarbanes Oxley Act ( Sox )955 Words   |  4 PagesErnestas Zarskis BUS 5644 International Accounting and Reporting Paper #2 Dr. LuAnn Bean 1. Based on the video Bigger Than Enron, discuss at least five features of the Sarbanes-Oxley Act (SOX) that are the result of events related to corporate fraud. Under Section 302 signing officer should be familiar with the report and are responsible for internal controls and have evaluated these internal controls within the previous ninety days and have reported on their findings. Also, report should notRead MoreThe Sarbanes Oxley Act ( Sox ) Essay1609 Words   |  7 Pagesmalpractices across several companies in the United States such as Enrol Corporation, Tyco International and WorldCom, there has been a lot of attention with regards to the accounting practices in the corporate sector. Specifically, the Sarbanes – Oxley Act (SOX) which was passed by congress in 2002, was aimed at addressing the situation by regulating fraudulent accounting practices such as bribery and wrong entries in books (Williams Elson, 2010). While regulation has its own limits, it is hopedRead MoreThe Sarbanes Oxley Act ( Sox )969 Words   |  4 Pagesthe accounting field Due to my position as your Financial Adviser, it is my duty to explain to you some important changes in the accounting field and the legislation that brought about this change. In 2002 the U.S. Congress passed the Sarbanes-Oxley Act of 2002 (SOX), a legislation put in place not only to improve the accuracy of corporate disclosures, but also to protect shareholders and the general public from accounting errors and fraudulent practices in all organizations. Although these organizationsRead MoreThe Sarbanes Oxley Act ( Sox ) Essay1233 Words   |  5 Pagescompanies such as Enron and WorldCom in the turn of the century motivated Congress to pass the Sarbanes-Oxley Act (SOX) in 2002 to strengthen regulations within the accounting profession (Whittington Pany, 2014). As a result, the SOX introduced provisions that changed the accounting function, such as the establishment of the Public Company Accounting Oversight Board (PCAOB) and other major elements; however, the SOX regulations subsequently resulted in consequences to its compliance. In the United States

The Genesis And Basic Drivers Behind Globalization

ABSTRACT The rapid growth of globalization has transformed the way businesses are managing their operations in this global world. This has brought considerable benefits as well as challenges and often political backlash. In this paper, we analyze the basic facts and trends surrounding the globalization phenomenon. We attempt to understand the genesis and basic drivers behind globalization. We focus on identify and analyze factors which contribute to globalization, analyze the effects of globalization, analyze the rise of economist nationalism under globalization and attempt to find out if it exists a correlation between globalization and the rise of new nationalism. I. Introduction Globalization is the growing integration of†¦show more content†¦These risks include: unemployment cases, dominance of trade brands, standardization issues which brings monotony, trade imbalances where the powerful nations tend to dump the exports of the developing nations, inequalities, technological insecurities due to high technological advancements in the businesses operations and other risks. Finally, the upcoming issue of new nationalism as with the election of Donald Trump is seen to be a threat to the existing globalization since his rules and other European changes tends to separate their countries from the other nations. They tend to perform their trading activities in their own ways and govern their citizens independently. Most nationalists see their economies, country, citizens and their cultures to be very unique compared to the other countries’. II. Factors leading to globalization Identify and analyze factors which contribute to globalization, include increased significance of multinational companies. There has been a high growth rate of multinational companies and organization which has greatly influenced the rise of globalization. These companies have brought about various new strategies in the operation of trade globally. In relation to revenue and growth rate of profit which has made these multinational companies to invest their brands and businesses globally hence leading to their internal growth. In this case, also some of the well performing Indian companies are able to export theirShow MoreRelatedMarketing Strategies of Mcdonalds3677 Words   |  15 PagesNMIMS UNIVERSITY McDonald’s : Behind The Golden Arches Customer Acquisition and Retention Group RITABRATA GHOSH (316) M.S. 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Motivation Triggers vary according to parameters such as region, gender, age, family background, and work experience. ‘Challenge’ is the principal ‘Motivation Driver’. 99.4% of the entrepreneurs interviewed did not want to be in a routine job. 74% of the entrepreneurs interviewed received family support, underscoring its crucial signiï ¬ cance. 63% of the entrepreneurs interviewed were self-ï ¬ nanced, while other sourcesRead MoreOrganisational Theory230255 Words   |  922 Pagesinfluence the understanding and exploration of organizations: the organization as system General Systems Theory General Systems Theory builds hierarchies of knowledge that relate to different levels of so phistication in understanding organizations The basic systems of the organization: what every organization must have to survive The organization as simple machine Level 3: ‘Get the structure and systems right so that all is in balance’ Level 4: ‘The machine is alive! – well, almost’ How modernist organizationRead MoreHbr When Your Core Business Is Dying74686 Words   |  299 Pages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 GE Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 General Electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58, 100 Genesis Advisers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 Guanghua School of Management . . . . . . . . . . . . . . . . . . . 20 Hammer and Company . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 Hankamer School of Business

Accounting Statement Analysis

Question: Discuss about the Accounting Statement Analysis. Answer: Introduction: The FASB and IASB, both regulatory bodies are followed the principle-based standards. However, the fundamental concepts on several issues highlight mere internal inconsistency in order to disclose matters in coherent accounting related to finance and framework for reporting (Hashim O'Hanlon and Li 2015.). Unfortunately, the individual conceptual frameworks of distinct standard setters can come to agreements on particular standard setting issues, which may be transitory in nature because different perceptions could be followed to resolve that particular issues (Lin 2015). As a result, both the above mentioned standard setting bodies may reach significantly different outcomes even though its identical. This fact reflects an inconsistency in standards. This is the major reason behind the development of the conceptual framework. To improve the substantial efforts, on the other hand, the IASB Framework is meant to assist both the standard setters and prepares while disclosing facts in the statement of financial under the conceptual framework (Rivera et al 2014). This is another reason which indulges the requirement of the conceptual framework. Thirdly, the planned approach in the joint project may help to converging both FASB and IASB standards. All these reasons are quite enough to justify the requirements to refine, update, complete and converging standards into a common conceptual framework. By following a conceptual framework, the principle-based standards can make understands to following facts: This will help to ensure the consistency between standards and between the previous and future decision makings to reach perfect conclusions. The framework will ensure that standards are not based on individual perceptions of the board members of the standard setters. It is required to bring consistency between the preparation of the statements, interpretation and reporting of the information contains in the reporting entitys financial statements. A conceptual framework makes action as a written constitution for accounting and reporting of the statements of financial. Though both IASB and FASB is followed principal-based standards, it is important to have a common conceptual framework for users and prepares of the statement of financial to make understand that standards and practices of accounting are based on common ideology (Gerber, Gerber and Van der Merwe 2014). As a result, the solution of particular issues would get the same results. More specifically, a common conceptual framework needs to enable for refinement, accomplishment, update and convergence between the present framework of IASB and the concept statements presented by the guidelines provided by the FASB. The revision, thus, is necessary because these frameworks were conceptualized in the year of 1970 and 1980 (Holder et al 2013). However, it is important that the conceptual frameworks need not revise the basic structure of the concepts. More importantly, the common conceptual framework needs to share similar quantitative characteristics of the accounting information, elements of ac counting statements, attributes, criteria for recognition in the reporting entitys statements along with display in statements and disclosure in notes and other aspects of the reporting. It is already recommended that various parties can get advantage from a conceptual framework. To prepare the statements of financial and reporting at the end of the financial period, conceptual framework can help the several bodies like the financial standard setters, auditors, prepares of accounts, and the users of statement of financial (customers, countrys regulatory agencies, investors, government, employees, lenders, suppliers and the analysts of finance). However, it is not true that conceptual framework is more significant for certain parties than others. The reason behind the equal requirements of conceptual framework to all parties is as follows: A conceptual framework generally discusses the system of interconnected objectives and fundamentals which needs to enforce for getting the consistent results at the end of the reporting period (Satin and Huffman 2015). Needless to say, the preparation of the statement of financial, reporting, analysis, and explanation are all interconnected with each other (Brouwer, Faramarzi and Hoogendoorn 2014). To make economic decisions, IASB Framework generally emphasized on the information related to finance which are needed by a wide range of users such as employees, investors, lenders, customers, suppliers, governments and the public. On the other hand, the FASB emphasizes usefulness regarding the credit decisions and investments by their concept statements (Barker et al 2014). Therefore, the common conceptual framework will be helpful for all these parties equally. For instance, the conceptual frameworks may cite general interest of external users of the statements while assessing potential new cash inflows to the organization. By disclosing the ability to generate net cash inflows may definitely important facts for employees, suppliers. On the other hand, the judgment of the external users about the capacity and ability impacts on the economic decisions of an enterprise (Pelger 2016). Therefore, all financial aspects are interrelated and consistent with each other. Dealing all these factors in the conceptual framework, therefore, is important for all parties for maintaining consistency throughout the financial stages. Though both FASB and IASB have followed common principle based standards, cross-cutting issues have been reflected in the areas that conflict between the several standards (Fisher and Nehmer 2016). Followed by the personal conceptual frameworks of individual standard setters, enterprises often find inconsistency in financial reporting and less-integration between the various standards as well (Murphy and OConnell 2013). For example, the prudence and the accrual under the Prudence and Going Concern have been represented in different manner under the following guidelines provided by the FASB and IASB. It is noted that according to IAS1, where the accruals concepts operation is inconsistent along with Prudence. Thus cross cutting issues is being considered as important because it creates an uncertainty into account in the assets and liabilities (Oliver 2014). In the broader perspectives, cross-cutting issues are important aspects for financial reporting which needs to be resolved under the conceptual framework for achieving the convergence on particular issues. Companies are seen to be recording the accrued liabilities and the for the environmental and reclamation matters. This also takes into consideration the demolition of the former operating facilities and the various obligations, which are stated under Asset retirement obligations (ARO). The accruals related to the environmental constraints are seen to be related to the estimates for the cost of the remediation of the previous estimates related to the legal costs for ongoing litigation and operated sites. The companies are seen to be recording a provision in relation to environmental costs of retiring an asset, which are in accordance with the Statement of Position 96-1, Environmental Remediation Liabilities. It has been further seen that the prescribed guidance for treatment is directly relevant to the different guidelines is shown in SFAS No. 5, Accounting for Contingencies, and Interpretation under FASB (FIN) No. 14, Reasonable Estimation in an incidence of a Loss. The companies nee d to assess further the possibility of the outcomes or loss. The determination related to the accruals is necessary. The contingencies related to the individuals matter are also scrutinized. In various cases, it can be discerned that the actual cost in the future may deviate from the estimates due to various types of the uncertainties, which is seen to arise from the environmental exposures (Fasb.org. 2017). The companies are further seen to reserve environmental liabilities and retirement of the long-term operating assets through the consultants who are known to follow the guidance given under SFAS No. 143, Accounting for Asset Retirement Obligations,. It has been also seen that the cost are inflated in accordance with the inflation factor and they are seen to be discounted by complying with the credit-adjusted risk-free rate. The deviations in the interest rates, inflation and the estimated costs are susceptible to the amounts, which are recorded on the Consolidated Balance Sheet. Hence, it must be assumed that the variations in the several considerations made would not have a drastic impact on the Consolidated Statement of Operations. It has been also observed that in case of the closed facilities the significant changes in the interest rates, inflation and the estimated costs can have considerable impact on the recorded amount, which are recognized under the Restructuring Charges. So me of the other considerations for the asset retirement by the companies can be clearly related under the note 17. The companies are also seen to be record the Environmental Liabilities and Asset Retirement Obligation based on the third party estimates for the cost of remediation, which are seen to be previously operated in the estimates for the legal costs. These are directly seen to be following the guidelines given by (SFAS) No. 5, which are seen to be in compliance with Accounting for Contingencies (Sec.gov. 2017). The recognition of the deferred tax liabilities is seen to be important for identifying the various types of the differences that will add to the in total taxable amounts in the years to come. The total amount, which is obtained for the return of that receivable, will be considered as taxable in nature. Hence, a deferred tax liability is perceived in the present year for the relevant taxes amount in the upcoming years as well. As per the guidelines given under the FASB Concepts Statement No. 6 Elements of Financial Statements, the liabilities of the company results from a past event-the installment sale at a profit (Chang et al. 2016). The requirement is also inclined with the needs of companies for paying taxed for the future period of time. The losses can be used to offset the different types of the total amount which is taxable and that result from temporary differences at the end of the fiscal year. Although the different types of the changes related to the level of the tax has b een further identified in event of taxes not been recognized in the statements of financial and matters which are not being considered in financial statements for the present year. In addition to this, the companies are seen to believe that the tax consequence shall not be recognized until the same has been considered for recognition in the financial statements (Young 2015). The liability recognition in relation to future activity for restoration affecting the net profit in the current year and in the future has been seen to be on the higher side with more amount of revenues recognized in form of the average receivables. The net profit is observed to be on the higher side due to lower amount to total liabilities and equities for the future restoration activities (Wang 2016). The liability recognition in relation to future activity for restoration affecting cash flows in the current year and current year and in the future has been seen in form of higher amount of Net income, which will be considerably high during the first years and lower in the last year. The net income is seen to be less volatile in the future years. It can be also discerned that the value of the total asset will be greater. The liabilities are observed to be lower due to the future restoration activities (Greg Rogers, C.P.A. and Atkins 2015). The importance of the recognition of the liabilities for the companies is seen in terms of the different types of the consideration, which are seen in form of outflow of resources embodying economic benefits. For instance, this is evident in form of the cash and the various types of the other probable entities. It has been further seen that the recognition of the liability of the company is directly related to the reliable measurement of the cost / value of the obligation (Hales et al. 2016). The disclosure of the liability is seen to be sufficient with the amendment, which is stated under the issuance of SAB 92 related to the environmental liability disclosures. The disclosures related to the particular sites for the individual material have seen to be vital for an understanding of a company's exposure to bear loss (Harrison and van der Laan Smith 2015). The disclosure should include total estimate to remediate and disclosures related to environmental exit costs. It is also necessary to disclose the following items: Nature of the costs involved with the company Amount of total anticipated cost The total costs accrued till date classification of the same The amount of possible sources of additional losses References: Barker, R., Lennard, A., Nobes, C., Trombetta, M. and Walton, P., 2014. Response of the EAA financial reporting standards committee to the IASB discussion paper A review of the conceptual framework for financial reporting.Accounting in Europe,11(2), pp.149-184. Brouwer, A., Faramarzi, A. and Hoogendoorn, M., 2014. Does the new conceptual framework provide adequate concepts for reporting relevant information about performance?.Accounting in Europe,11(2), pp.235-257. Chang, X., Fu, K., Li, T., Tam, L.H. and Wong, G., 2016. Corporate Environmental Liabilities and Capital Structure. Fasb.org. (2017).Summary of Statement No. 96. [online] Available at: https://www.fasb.org/summary/stsum96.shtml [Accessed 27 Jan. 2017]. Fisher, I. and Nehmer, R., 2016. Using Language Processing to Evaluate the Equivalency of the FASB and IASB Standards.Journal of Emerging Technologies in Accounting. Gerber, M.C., Gerber, A.J. and Van der Merwe, A., 2014. An analysis of fundamental concepts in the conceptual framework using ontology technologies.South African Journal of Economic and Management Sciences,17(4), pp.396-411. Greg Rogers JD, C.P.A. and Atkins, C., 2015. Accounting for oil and gas environmental liabilities in bankruptcy.Petroleum Accounting and Financial Management Journal,34(2), p.26. Hales, J., Matsumura, E.M., Moser, D.V. and Payne, R., 2016. Becoming sustainable: A rational decision based on sound information and effective processes?.Journal of Management Accounting Research,28(2), pp.13-28. Harrison, J.S. and van der Laan Smith, J., 2015. Responsible accounting for stakeholders.Journal of Management Studies,52(7), pp.935-960. Hashim, N., O'Hanlon, J. and Li, W., 2015. Expected-loss-based accounting for the impairment of financial instruments:: the FASB and IASB IFRS 9 Approaches. Holder, A.D., Karim, K.E., Lin, K.J. and Woods, M., 2013. A content analysis of the comment letters to the FASB and IASB: Accounting for contingencies.Advances in Accounting,29(1), pp.134-153. Lin, H., 2015. Discussion about conceptual framework.International Business Research,8(6), p.191. Murphy, T. and OConnell, V., 2013. Discourses surrounding the evolution of the IASB/FASB Conceptual Framework: What they reveal about the living law of accounting.Accounting, Organizations and Society,38(1), pp.72-91. Oliver, K., 2014. Balance Sheet Presentation under IAS 1 and US GAAP. Pelger, C., 2016. Practices of standard-settingAn analysis of the IASB's and FASB's process of identifying the objective of financial reporting.Accounting, Organizations and Society,50, pp.51-73. Rivera, A.R.L., Arbelo, H.J.R., Ruiz, A.D.., Rodrguez, J.L.V., Garca, W.C., Clemente, K.A.B., Prez, C.J.C., Toledo, S.J.F., Martnez, J., Batista, D.C. and Aponte, A.N.R., 2014, January. IASB AND FASB CONVERGENCE PROJECT: WHERE ARE THEY NOW?. InGlobal Conference on Business Finance Proceedings(Vol. 9, No. 1, p. 665). Institute for Business Finance Research. Satin, D. and Huffman, T., 2015. FASB and IASB Convergence: Asymptotic Relationship or Transmogrification?.Academy of Accounting and Financial Studies Journal,19(2), p.239. Sec.gov. (2017). [online] Available at: https://www.sec.gov/news/speech/speecharchive/1995/spch039.txt [Accessed 27 Jan. 2017]. Wang, M.C., 2016. The relationship between environmental information disclosure and firm valuation: the role of corporate governance.Quality Quantity,50(3), pp.1135-1151. Young, J.M., 2015. Navigating Pitfalls in Estimating Costs of Environmental Remediation Liabilities for Financial Reporting Purposes.

Lifestyles Inventory Essay Example

Lifestyles Inventory Essay Personal Thinking Styles The Life Styles Inventory (LSI) was designed to help assess effectiveness in relationships on the job and support the development of interpersonal skills. This â€Å"road map† to self development was the brainchild of Dr. Clayton Lafferty. This survey of questions measures 12 key thinking styles, that are regarded to promote performance change and improve personal understanding of how our thinking affects our behavior. The 12 styles are categorized into three general clusters: Constructive, which includes Achievement, Self-Actualizing, Humanistic-Encouraging, and Affinitive thinking styles, Passive/Defensive, which includes Approval, Conventional, Dependent, and Avoidance thinking styles; Aggressive/Defensive, which includes Oppositional, Power, Competitive, and Perfectionist thinking styles. I must admit, I was quite hesitant about doing another self evaluation as they sometimes do not accurately reflect who you know yourself to be. After all, who knows you better than you do? Nevertheless, the purpose of this exercise was to help me discover how my thinking styles may or may not directly influence my behavior as a manager and could be a great asset in my endeavors for advancement. Primary and Backup Thinking Styles After taking this self assessment, my circumplex shows the two styles with the greatest influences falls under the Constructive style and Passive/Defensive Patterns as displayed in Figure 1. It focuses in on my primary thinking style is Humanistic-Encouraging (1 o’clock position) and my back up thinking style is being Dependent (5 o’clock position). We will write a custom essay sample on Lifestyles Inventory specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Lifestyles Inventory specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Lifestyles Inventory specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Humanistic-Encouraging Style I can identify with the Humanistic-Encouraging style because it does describe who I am in both my professional and personal life. This style measures our interest in people, our tendency to care about others, and our ability to accept without others without criticism. It is optimistic about what people can achieve and has the ability to inspire and motivate people around them. I have always been genuinely concerned about people in my life and I always want to focus on how I can help them grow and develop their skills. I see potential where other managers do not see and support aspirations that no one else thinks exist in people. I can’t help but nurture others. It is simply who I am. Dependent Style I somewhat disagree with the backup being Dependant as I do not believe this style of thinking is a true depiction of the way I think or see myself as a whole. This style measures the degree to which we feel our efforts do not count. This type of behavior derives from a need for security and self protection. People who fall under this style typically feel helpless with very little control over their lives. They lack self respect and always want to please others. This part could not be further from the truth about who I am. However, it does mention that dependent style people are passive which I am, and sometimes have a difficulty making hard decisions. A lot of this has to do with sudden changes or set back in our life. The latter can be found more in relation to my person life and not so much professional. Limiting Style It was hard to determine which style is limiting my effectiveness from looking at the chart. The obvious would be to select Oppositional; however, says that I an aggressive and like to argue would contradict me â€Å"Dependent quality of passiveness. I decided to go with is Conventional Style. This style I feel is most limiting in that being passive, causes me to want to simply blend in and conform even though my heart says I was made to stand out. The measure that best describes me is â€Å"the preoccupation of appearing normal and unquestioned obedience†. (http://www. survey-server2. com/lsiuniversity-sso/rpt4. sp) This style is most difficult for me because it is not who I am personally, but professionally it speaks truth. Coming from a managerial position to that of a subordate role at my current job had a dramatic affect on me. I have adapted and conformed to the conditions of the culture in my office because it seems to be the easiest way to remain employed in this company. I have watched colleague be terminated for speaking their minds or having different of o pinions from that of our direct report who is new to this role and wants to flex her power. It is disheartening and discouraging for me. This is a style that needs to be addressed. Impact on Management Style Most of my life, I have successful in maintain balance between my personal and professional life. But as we all know, they overlap and are intertwined. Our management styles whether good or bad reflect our ability to lead other. To be an effective manager you must have the four basic management functions: 1) the ability to Plan; 2) Organize; 3) Lead; and 4) Control. Planning I am not big on procrastination, so planning is very important to me. I need to know the why, when, how, what to generate a plan and effectively execute it. There is always that need to establish a goal and a plan of action to accomplish this. This is a process that must be seen through to the end. Organizing No plan successful plan can be executed with proper organization. As a manager it is imperative to be able to organize the plan for which a goal has been set. Organization is very broad. For me, as long as there is a plan where it is personal or in my professional environment, I strategically put resources in place, which will best efficient way to accomplish the plan of action I set up. Lead Not everyone has the ability to lead or has the know how to do so. Sometimes people get lead and managed confused. Nevertheless, using simple directives set for people to follow is what has always worked for me. I have always been able to influence my employees because I lead by example. I never tried to manage or use power to have my way or force something to be done. Leading is influential. Control Control is about making sure policies and processes are in line with the goals and objects you have. I think for me, it wants to always make sure everything is close to perfection. So that requires periodically monitoring progress, revisiting structural issues and talking to everyone involve for input and their opinions on whatever we are working to accomplish. I don’t really look at control as being in charge; it is more so just making sure everything goes smooth. Genesis of Personal Style My personal style is who I am. It was defined by my character, my values, my life experiences, role models, education and trainings. Over the course of my life, my family’s heritage, the environment I grow up in and even the people I kept close to me all affected who I am today. My values developed more and as I get older. I continue to hold in high regard traits like humility, respect which I was taught as a child. Growing up in the West Indies, it was always about respect, having manors and knowing your place. I heard the Proverb’ â€Å"Children should be seen and not heard† more times than I could remember. But it put in retrospect, it made me realize, that there was a time and a place for everything. I always want to lend a helping hand no matter the cost. Knowing when to speak up for injustice and knowing which battle to fit because we can’t win them all. I was always a bit shy and passive growing up, but had big dreams and an even bigger heart. My grandfather would always ask me, â€Å"Why do you always try to fit in when you were made to stand out†. He along with my entire family has been my inspiration for my life and has help shape who I am. Since then, I have made it a life choice that in whatever I do, to be it personal or professional, I want to shine. I joined Toastmasters at a young age to help work on my shyness which allowed me to reach deep within myself find the confidence and strength hidden. I became more active in student governments and youth foundations where I began to see who I wanted to be; A leader. I worked in an Industry where people were my business and found new respect and strength in optimism. I despise people who are arrogant and have no compassion for others simply because of their position. I never paid much attention to achievements as I do to character. This is where I find value. Conclusion and Reflection The purpose of this exercise was to discover how thinking styles may influence my behavior as a manager. No management style is the same, perfect or fits every situation. What I may see as a strong management style to have, may very well be contradictory of what the other staff thinks it should be. When it comes down to it, my primary style Humanistic-Encouraging patterns, I cannot refute this theory. I claim it proudly because I wear this style every day. It has given me the ability to develop others and help them grow without the need for recognition. I take much gratification in knowing that I have helped, encourage or improve the quality of life whether professionally or personally for my employees. Not everyone can say that and it is displayed in the appreciation the show towards me. Although the Dependent style was my back up, I did not find anything substantial that related to me. A bit of stress here and there, changes in company ownership and job security issues may be the cause for the score in this. But lack of self respect is definitely not who I am. I would rather focus my attention on Conventional style as recently in my professional life, I have take a back seat far from the strong voice that carried over a reign of applause during one of my speeches. I have conformed if only to get along. But this is not the way to achieve my goals. I want to be able to be me; A woman once so positive and willing to go the mile. I want to once again be successful not only in my personal life where I have full control, but also in my professional life where I should be more assertive with my needs and desires as a part of my team. Everyone should have autonomy over their lives and the ability to fully stand behind your Life Style.