Hatton aitonal Bank of Sri Lanka was recognized as the best bank in Sri Lanka by international finance magazine Euromoney at the Euromoney Awards for Excellence 2009 Asia Dinner in Hong Kong. Euromoney praised the bank for being able to post solid results during an economic backdrop that arguably worsened and a political situation that stabilized towards the end of the review period. Rajendra Theagarajah, managing director and CEO of Hatton National Bank, received the award from Euromoney Magazine managing director Simon Brady.
Monday, November 2, 2009
South Indian Bank bags Best Bank award ~ South
Indian Bank won the best bank award in the traditional bank's category at
the 10th Financial Express awards for India's best banks selected by Ernst & Young. Pranab Mukherjee, union finance minister, presented the award to Dr VA Joseph, managing director and CEO of the bank.
MCX Stock Exchange has signed a cooperation agreement with ITSE
MCX Stock Exchange has signed a cooperation agreement with ITSE, the global index provider, which will bring a range of international as well as new domestic indices to the Indian market. Seen on the occasion of the signing ceremony (L to R) are U. Venkataraman, executive director, MCX Stock Exchange; Donald Keith, deputy chief executive, ITSE; Jignesh Shah, vice chairman, MCX Stock Exchange; Paul Hoff, managing director - Asia Pacific, ITSE and Khozem Merchant, deputy chairman, Pearson India
Cisco Capital sets up office in Dubai
Capital has launched a captive financing arm in Dubai to serve Gulf, North Africa and Central Africa. Seen on the occasion are (L to R) Marwan Lootah, chief ClJ •• 'orate affairs officer, DIFC Authority; Amna Al Sayed, CEO, DII·c.. Global; Wayne Hull, general manager, CISCO Capital UAE; HE Dr Omar Bin Sulaiman, governor of the DIFC; Sam Kharrat, managing director, CISCO Capital, Gulf & Pakistan; David Clark, senior executive officer, CISCO Capital, UAE and Abdulla Al Awar, CEO, DIFC Authority.
~ Alok Kumar Misra is CMD of Bank of India
Alok Kumar Misra has assumed charge as chairman and managing director of Bank of lridia. Prior to being appointed CMD of Bank of India, Misra had been CMD of Oriental Bank of Commerce. Earlier, he was executive director of Canara Bank and held several senior positions induding managing director of Indo-Zambia Bank, a joint venture between Bank of India, Bank of Baroda, Central Bank of India and the government of Zambia. A post-graduate in statistics from Lucknow University, CAl!B, fellow of the Certified Institute of Bankers of Scotland and a post-graduate diploma holder in personnel management, University of Delhi, he began his career as a probationary officer
S.B.JAIN IN"STITUTE OF TECHNOLOGY, MANAGEMENT & RESEARCH Nagpur
cases. However, the leader who uses power in the service of his/her organization is using power in the most constructive sense. The leader who seeks power for its own sake and for personal satisfaction is at a level of personal maturity that will compromise his/her ethical position,
.Organizations also playa political game. Organizations seek influence.
Influence increases autonomy (freedom to control own assets);
organizational morale (the ability to maintain cohesion and effectiveness);
essence (sanctity of essential tasks and functions);
roles and missions (exclusion of options that would challenge these);
budgets (increased roles and missions will
always favor larger budgets) Photo two-- leader NATURE OF STRATEGIC LEADER POWER
Strategist argues that power at the strategic organization level is manifested and executed through three fundamental elements: consensus (general or widespread agreement among all the members of a group) cooperation, "Cooperative potential refers to an organization's capacity to catalyze cooperative interaction among individuals and groups." Culture, It refers to the management culture, its flexibility and adaptability.
INDMDUAL SKILLS AND ATTRmUTES AS SOURCES OF POWER
Research and observations emphasize the following characteristics as being especially important for acquiring and maintaining
strategic power bases:
High energy and physical endurance- It is the ability and motivation to work long and often times grueling hours .Absent this attribute other skills and characteristics may not be of much value.
Directing energy- It is the ability and skill to focus on a clear objective and to subordinate other interests to that objective.
Successfully reading the behavior of others- It is the ability and skill to understand who are the key players, their positions and what strategy to follow in communicating with and influencing them.
Adaptability and flexibility - It s the ability and skill to modify one's behavior. This skill requires the capacity to re-direct energy, abandon a course of action that is not working, and manage emotional or ego concerns in the situation.
Motivation to engage and confront conflict- It is the ability aI).d skill to deal with conflict in order to get done what you want accomplished. The willingness to take on the tough issues and challenges and execute a successful strategic decision is a source of power in any organization.
Subordinating one's ego: - It is the abilityand skill to submerge one's ego for the collective good of the team or organization. Possessing this attribute is related to the characteristics of adaptability and flexibil- ~ ity.
CONCLUSIONS
In corporations, public agencies, universities, and government, the problem is how to get things done; how to move forward, how to solve the many problems facing organizations of all sizes and types. Developing and exercising power require having both will and skill. It is the will that often seems to be missing."
S.B.JAIN IN"STITUTE OF TECHNOLOGY, MANAGEMENT & RESEARCH Nagpur
Future
" Photo one-power and organization '. The concept of organizational politics can be defined as who gets what, when and how. If power involves the employment of stored influence by which events, actions and behaviors are affected, and then politics involves the exercise of power to get something done, as well as to enhance and protect the vest
ed interests of individuals or groups. Thus, the use of organizational politics suggests that political activity is used to overcome resistance and implies la conscious effort to organize activity to challenge opposition in a prior
ity decision situation.
The preceding discus
sion indicates that the concepts of power and organizatil'mal politics
are related. We define organizational politics
as the use of power, with power. viewed as a source of potential ener
gy to manage relation
. ships.
" Photo one-power and organization '. The concept of organizational politics can be defined as who gets what, when and how. If power involves the employment of stored influence by which events, actions and behaviors are affected, and then politics involves the exercise of power to get something done, as well as to enhance and protect the vest
ed interests of individuals or groups. Thus, the use of organizational politics suggests that political activity is used to overcome resistance and implies la conscious effort to organize activity to challenge opposition in a prior
ity decision situation.
The preceding discus
sion indicates that the concepts of power and organizatil'mal politics
are related. We define organizational politics
as the use of power, with power. viewed as a source of potential ener
gy to manage relation
. ships.
POWER
AS A MOTIVl!
Power is attractive becau confers the ability to influel decisions, about who gets wi resources, what goals are PI sued, what philosophy ~ organization adopts wE actions are taken and who 51 ceeds and who fails
Advantages of power organization
Power also gives a sense
control over outcomes, aJ enhanced control. Particularly I decision issues become more co plex and outcomes become mo uncertain,
Power becomes more attractil as a tool for reducing·uncertainv Power and the ability to use I are essential to effective leadershi] The critical issue is why tl
leader seeks power an
how it is used. Som see power as a tool I enhance their abi~ ty to facilitate th work oftheir orgaru zations and group' Others value power for its own sake, an exercise power for the personal satisfactiOl it brings. There can be good and bad in bot)
