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.

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.
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Equipment Lease Finance Tips for New Businesses

Equipment lease finance is a great option for those who are planning to start a new business. Instead of applying at a bank for a loan to purchase necessary equipment, one can choose a leasing option which helps avoid unnecessary delays in the business operation. Moreover, one can avoid the normally extended waiting period to get their bank loan approved. In this article, we will talk about the essential tips for start-up businesses, new businesses and established businesses that are planning to apply for equipment lease financing.

In the first place, it is very important to consider one’s qualifications. Leasing companies each have their own set standards for approving leases. Always make sure that the company you choose offers services for start-up or new businesses. You will come across many lessors who are willing to finance customers with a good credit. So if your credit history is below the mark, you will want to work with leasing companies that have lower credit experience.

Many leasing companies also have restrictions on the kinds of equipment they are able to finance. For example, some lessors do not lease high-risk equipment like restaurant equipment, ATM machine routes, vending machines, etc. So you should first find out whether the leasing company you have chosen is able to provide you financing for the equipment you require. One more important thing that should be taken into account is the expiration term. You should carefully research the exact date and nature of the expiration of your lease.

When choosing the equipment lease financing option, it is very important to choose a program that is suitable for your needs. Lease programs vary depending on the company providing them. Moreover, there is no standard lease program that will suit every type of businesses. One must consider a number of things before choosing an equipment lease program. For example, the size and financial health of your organization are very important. Important information about lease programs offered by a particular company is available on its website. You should always choose a company that has a well- maintained website where you will find clear program and contact information. The better known companies will also have a simpler lease process that is more manageable and hassle-free.

Equipment lease financing has become quite popular during a time when business owners do not want to go into the hassles of bank loans that include financial statements, pro forms, business plans, tax returns, etc. Companies prefer to work with an experienced equipment financing company with whom they can freely discuss their company’s details with knowledgeable professionals and learn more about equipment lease financing