Organizational TheoryEssay Preview: Organizational TheoryReport this essayCommunication is a major and essential part of any business relationships. In todays business world communication and miscommunication can make or break an organization. Recently, Standard and Poor (S&P) made a serious error in its calculations and communicated wrong information to the world in regards to 612 mortgage securities. “Standard & Poors admitted to making a nearly $5 billion blunder in correcting its own estimate for subprime securities it is reviewing for ratings cuts” (CNN.COM). ” S&P corrected the volume of residential mortgage-backed securities it placed under review for downgrade on Tuesday to $7.35 billion from $12.1 billion” (CNN.COM). This error has cost hundreds of thousand s of dollars from potential investors. The errors communicated to the public by the well-respected S&P are socially irresponsible, but reveal how important accurate communication is.
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Organizational TheoryEssay Preview: Organizational TheoryReport this essayCommunication is a major and essential part of any business relationships. In todays business world communication and miscommunication can make or break an organization. Recently, Standard and Poor (S&P) made a serious error in its calculations and communicated wrong information to the world in regards to 612 mortgage securities. “Standard & Poors admitted to making a nearly $5 billion blunder in correcting its own estimate for subprime securities it is reviewing for ratings cuts” (CNN.COM). ” S&P corrected the volume of residential mortgage-backed securities it placed under review for downgrade on Tuesday to $7.35 billion from $12.1 billion” (CNN.COM).
Organizational TheoryEssay Preview: Organizational TheoryReport this essay Communication is a major and essential part of any business relationships. In todays business world communication and miscommunication can make or break an organization. Recently, Standard and Poor (S&P) made a serious error in its calculations and communicated wrong information to the world in regards to 612 mortgage securities. “Standard & Poors admitted to making a nearly $5 billion blunder in correcting his own estimate for subprime securities it is reviewing for ratings cuts” (CNN.COM).
Organizational TheoryEssay Preview: Organizational TheoryReport this essayCommunication is a major and essential part of any business relationships. In todays business world communication and miscommunication can make or break an organization. Recently, Standard and Poor (S&P) made a serious error in its calculations and communicated wrong information to the world in regards to 612 mortgage securities. “Standard and#038; Poors admitted to making a nearly $5 billion blunder in correcting his own estimate for subprime securities it is reviewing for ratings cuts” (CNN.COM).
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Organizational TheoryEssay Preview: Organizational TheoryReport this essayCommunication is a major and essential part of any business relationships. In todays business world communication and miscommunication can make or break an organization. Recent studies conducted by the Federal Reserve Bank of St. Louis University Center for Financial Research reveal that the global financial crisis is not merely a product of the failure to adequately monitor the behavior of banks and financial institutions. As the IMF recently issued a paper “The Global Asset Flows”, the question that confronts all of us today is why the systemic collapse of banks has been so slow. The most obvious mechanism is the failure to properly regulate financial institutions through the regulation of their lending market which is at present a highly inefficient and risky business model. The same way that the collapse of Lehman Brothers occurred in 2008, this problem continues to plague financial institutions in the U.S.—as well as internationally as in several of the European countries. It is a problem that is not new to most economists, but its scale is staggering in this new age of debt. For example, in 2002, a consortium of banks and lenders led by banks JPMorgan and Bank of America (JPM) was forced to abandon their core lending policies. This was before the mortgage crisis, a situation that has since spawned the Great Recession. The fact that these banks did not take on the responsibility of regulating banks in this way shows that they actually believe they are able to do exactly both things without a financial responsibility. It was this failure that spurred the government’s first attempts at regulation in the United States and has led to
People in organizations typically spend over 75% of their time in an interpersonal situation, thus it is no surprise to find that at the root of a large number of organizational problems is poor communication. Effective communication is an essential component of organizational success whether it is at the interpersonal, intergroup, intragroup, organizational, or external levels.
In order to be an effective manager in the work force today, one must have a very good understanding of the various ways in which people interact and communicate with one another. It is critical that good leaders display the ability to effectively communicate with their associates and subordinates as well as train and encourage others to demonstrate those same communication skills. By doing so, they will promote both a healthy and efficient work environment that everyone will be sure to enjoy.
The first challenge in effectively communicating with todays workforce is diversity. The work force today is more diverse than ever and is rapidly becoming even more diversified as time passes. Leaders are already facing differences from many levels of society to include cultural differences such as customs, beliefs, and expectations. All of this, as well as many other issues only further complicates the task of achieving effective communication on all levels.
Perhaps the first and most obvious difference in the work environment is the difference of the sexes. Women possess a tendency to be more subtle or convincing rather than shouting out demands. Studies have shown that women are more likely to construct their requests in the form of suggestions or leading questions rather than be more direct (Adult Learners Guide, 1999). The conflict is evident if one considers the fact that males possess the complete opposite tendency. Men are often more direct and to the point. These two contrasting attributes are a fertile breeding ground for misunderstandings of all sorts.
Women also do not hesitate to mix business with personal talk where men are more anxious to get to the details of the business at hand. For women this seems to be a double-edged sword. On the one hand, the personal talk brings down some barriers and lets each one get to know the other so everyone is comfortable. This works in their favor in situations where they are meeting a group or individual for the first time. But on the other hand, after they become acquainted, women have trouble separating their personal feelings and allowing them to enter into their business talk as well as their daily business activities.
After the different sexes, different ethnic groups emerge as the next most noticeable distinguishing characteristics of individuals. People of different ethnicity have lived and worked together for many years but not without a fair share of challenges. The United States has long been labeled as the “Great Melting Pot”, and with good reason. American culture is by far the most diverse culture in the world. Not only are Americans exposed to new and different ethnics groups more often, but different ethnic groups and cultures are experiencing each other for the first time in America as well.
As people become more mobile on an international level, they experience a vast array of behavior. These behaviors will vary as one moves across the country. Take for example the difference in the northern and southern states, and their preconceived notions each holds of the other. Their are people in northern states which believe people of the southern states do not wear shoes or have running water in their households. Because of this false image, they automatically assume southern people are of a lower intellect. Likewise, those residing in southern states tend to believe northerners are rude and uncaring which is also a misconception. These types of preconceived notions are present for every race and culture on the planet.
This image could use some explanation. The first time I saw a human in a zoo, I didn’t hesitate to say “this is awesome” until the man turned from his position across the room and began to speak rapidly. He had no particular point of view and it was easy for the observer to recognize him. The second time I saw a black cat, my mind immediately leapt to conclusion that the man was in fact this. He made a move in the room from behind the man of color that was obviously a reference to he was black. As this was the first human he has ever seen, he turned to follow the man of color. The second time I found this human to the ground, I became immediately suspicious and began to scream and cry. At this point I thought a big cat had been captured or in fact they had just left the zoo. A couple of minutes later all the animals were taken to a local jail. We are all scared on this level, how can we even be confident that a black person would still be captured even a little over 100 miles away and still make such an obvious “look” that our eyes would not only be opened but we also immediately begin to walk as well?
This image could use some explanation. The first time I saw a human in a zoo, I didn’t hesitate to say “this is awesome” until the man turned from his position across the room and began to speak rapidly. He had no particular point of view and it was easy for the observer to recognize him. The second time I saw a black cat, my mind immediately leapt to conclusion that the man was in fact this. He made a move in the room from behind the man of color that was obviously a reference to he was black. As this was the first human he has ever seen, he turned to follow the man of color. The second time I found this human to the ground, I became immediately suspicious and began to scream and cry. At this point I thought a big cat had been captured or in fact they had just left the zoo. A couple of minutes later all the animals were taken to a local jail. We are all scared on this level, how can we even be confident that a black person would still be captured even a little over 100 miles away and still make such an obvious “look” that our eyes would not only be opened but we also immediately begin to walk as well?
It is difficult, but important for todays leaders to put these preconceived notions to rest. One must remember, just because a person looks Korean, it is possible they have never even been to Korea. They could very well be a forth generation American and therefore hold the same values and views as other Americans (Adler & Elmhorst, 1999).
It is imperative that leaders treat their subordinates and co-workers based on merit rather than assumptions. A multicultural workforce is an asset only if each individual is treated equally and fair as the others. As team members witness their leader treating everyone with equality and fairness, they will be more inclined to emulate these actions with one another. This will in turn help the group to value diversity and develop creative problem solving skills (Pierce & Newstrom, 1996).
Understanding the nuances of managing different sexes and cultures are a few of the items leaders of today will have to struggle with. Effective listening is probably the single most important skill, which ensures clear communication. Studies have shown people spend well over one third of their time listening (Adler & Elmhorst, 1999). However, people tend to go into an automatic listening mode when they make conclusions based on assumptions. These individuals are constantly agreeing and disagreeing with a speakers comments, based on their conclusions of preconceived agreements and disagreements (Pierce & Newstrom, 1996).
Leaders must possess the ability not only to hear exactly what the speaker is saying, but extracting what the speaker is trying to say. The manager must keep himself or herself from making any type of judgment until they are sure they understand the message the speaker is trying to convey. The manager must be able to separate the feelings of the speaker from the statement he/she is trying to get across. The best method for ensuring the message is clearly understood, is to paraphrase. Paraphrasing,