What The World’s Greatest Managers Know And Do Differently

It has been a debate forever about the role of a Manager and what knowledge and skills does a manager need to possess to be effective in his/her role? When we talk about the role of a manager, it is the context of the business environment and what are they expected to do? There may be different expectations in different organization environment even then when the managers as a cadre is discussed, there a platform in which they are evaluated and rated one above the other based on their contribution, skills and competencies. So, it is the knowledge and experience of a manager that sets him apart from the other. A lot of managers operate out of the conventional wisdom and are reluctant to experiment anything new lest it fails! There is nothing wrong or right about it, it is a managers prerogative how he wants to operate, however, past statistics have always proven that the individual approach, style, beliefs, values etc have a bearing on the people who work for these managers or are a part of the team.So, what is it that Great Managers know? What is that powerful insight that the world’s great managers know and use in their daily work life that puts them ahead of the pack and helps them get the best out of their people? Is there actually a prescriptive knowledge capsule that one can use to have people queuing up to work for you? In many books, the writers have outlined a collation of insights that managers across the world have shared about their experience of working with people and their observations converted as their beliefs. Very interestingly, the insights are as follows:”People don’t change that much”"Don’t waste time trying to put in what was left out”"Try to draw out what was left in”"That is hard enough”It may be fair to calibrate this as the powerful insight that base the wisdom of great managers and often it can be attributed as the success factors of the Mangers’ success. Of course the seemingly simple insight is difficult to decipher and even more difficult to use in the work life. It needs a sophisticated approach by the practicing manager to use the insight effectively and increase the effectiveness quotient.Once the knowledge is acquired, the real challenge is to put the wisdom/knowledge to apply this in the respective organizations. As a manager, it is important to anticipate what will it call for the employees, how will it impact the organization etc while applying this insight.Referring to the initial statements on the Role of the Manager, one of the key roles that the managers play is of the Catalyst. Yes, you as a Manager play the role of the catalyst an in you capacity unleash the individual strengths of each of your team members and effectively translate them into performance as per the organization standard. What differentiates one manager from the other is how effectively this role of catalyst is being played! The other differentiator is the ability of the manager to play multiple roles at the same time, one is expected to be the Individual Superstar, subject matter expert, and leaders in their own way! The manager aspect of their role is often most effectively lived by playing the Catalyst role with each team member and turn it into a success story. It is the “individual approach” that works well, you may choose a person, set expectations, motivate the person and develop the person, this multiplied into the no of team members and you have got it all right to etch your name as one of the World’s Greatest Managers!To be equally great in your organization context, it helps to refer the defined competency of the manager in your respective organization and benchmark them with the managers’ competency in general as listed by various organizations.

Statistics Programming – Easing the Pain

Different sets of software are being developed everyday just to ease man with some of his technical works such as in the field of business. These programs are specially designed to make high speed calculations and analysis of the data and come up with a soft copy of information output that can be used instantaneously after the software processes it. Statistics is one of the most complicated clerical works of anyone who is studying or working in the field of economics, politics and even social matters. Statistics is deemed to be of importance because it gives a type of descriptive conclusion or interpretation that can be very precise depending upon the quality of data that has been gathered and the competence that is given to organize, interpret and represent that data. But even with the level of competence that a person has with regards to his statistical skills, there is still a probability that a miscalculation might be made and alter the holistic outcome of the statistics.

However, because of the rapid advancements of technology and the evolution of the functions that can be performed by the humble computer software developers has come up with a certain software program that can make ease any statistician of all their statistical tasks. The development of a program that is able to perform the task of organizing and interpreting statistical data was q revolutionary breakthrough when it comes to statistical analysis help. Statistics programming is defined as the systematic calculation of all the numerical data that has been downloaded into the system wherein it is organized basing upon the categories. These categories are classified upon the nature of the data that has been downloaded. After the process of organizing the data, it will be then interpreted numerically. This function of statistical programming helps to lessen the burden of work and also to maximize the output of a statistician.

Statistical program is composed of sets of languages. There are a total of 17 categories in a statistical program and these are the following;
• Analytica, ADMB
• Gretl, GAUSS
• Mathematica
• OxMetrics
• Quantum (Programming Language)
• Programming Language, SPSS, Symbolic Data Analysis, Sysquake, SAS (software and language), Speakeasy(Computation), SHAZAM (Software)
• World Programming System
• XLispStat

Each of these categories of Statistics Programs has their own unique sets of functions. Each one of it is capable of performing specific functions about statistics. The MATRIX LAB is one of the statistics programs that are widely used today. It is a program that is provided by a certain company that is said to be fully capable of solving ad coming up with solutions with regards to any mathematical or numerical problems that are fed into it. The MATLAB assignment helps not only statistics but also other aspects that majorly require the use of mathematical equations and solving. Because of these software programs, statisticians are given more time to pay attention to other details of the data and leave the organization and the interpretation of it to the statistics software.

Mortgage Loans – 4 Different Types of Mortgage Loans to Choose From

We know that there are different types of mortgage loans, however, when you are at the point of buying a home, you need to know what type of mortgage is best for you.The loan offers available from mortgage companies today are extensive and varied. However, despite the multitude of different brand names on the market, we can readily distinguish between four basic types of mortgage loans:(a) Fixed Rate Mortgage Loan – In this type of loan, the interest rate remains unchanged throughout the life of the loan, i.e., the tax payable on the loan is kept constant. This gives prospective home owners some level of confidence that if interest rates go up, their loan will not be affected.On the other hand, one obvious drawback of this type of loan is that, if interest rates fall, they may not benefit from it.Another feature of such loans is that they usually have a set term (usually 12 to 15 years) and the early termination fee is higher. It is important to remember this fact if you plan to use part of the future savings to reduce the loan amount or period.(b) Variable Rate Mortgage Loan: This is a loan type in which for the first year (or for the first period), the interest rate is agreed. For the remaining years, it keeps on changing according to the reference rate agreed in the contract, adding a spread that varies depending on the conditions set out in the terms of the agreement.The main advantage of this type of loan is that you benefit from the interest rate cuts.This type of loan is characterized by a longer maturity period which can be as long as 25 to 30 years, and the deferred sales charge is usually lower than is the case with fixed interest rates.(c) Joint Interest Mortgage Loan: Here, the interest rate remains fixed for two, three or more years combined, and this is followed by another period in which it is variable and is adjusted according to the prevailing conditions in the market.This mortgage plan combines both the merits and demerits of fixed and variable loans. Under this plan, the repayment terms and the early termination fees are usually similar to that of the variable rate mortgage loan.(d) Flat Fee Mortgage Loan: As the name implies, it is a loan type characterized by a flat rate. It closely resembles the fixed-rate loans considering the fact that the customer always pays the same rate regardless of changing interest rates.The one major difference is that if rates do go up, instead of the borrower paying more fees, the repayment period is extended; and if the interest rates fall, the repayment period is shortened.The main disadvantage of this loan type is the level of uncertainty associated with it, as the actual term of the loan is unknown. However, its chief advantage is that you are pretty much guaranteed that the fee will not change during the lifetime of the transaction.