Doug Counsell and Juliana Popova
This article offers an exploratory first look at the career‐related perceptions and strategies of young careerists in today’s democratic and market‐oriented Bulgaria. It…
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This article offers an exploratory first look at the career‐related perceptions and strategies of young careerists in today’s democratic and market‐oriented Bulgaria. It identifies major social, political and economic developments that have shaped the Bulgarian nation and presents and discusses survey data which reveal factors influencing careerists’ thoughts and decisions, levels of (and reasons for) career optimism‐pessimism, and strategies used in the pursuit of career advancement. Where appropriate, comparative data are employed from two previous studies – one focusing on UK careerists, the other on Ethiopian careerists. The young Bulgarian careerists of the current study are relatively pessimistic about their career prospects and, while they report that they utilise the same seven career strategies that are common in the USA and the UK, they also suggest that “corruption” is an important additional career strategy in modern Bulgaria.
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Retirement is a relatively new phenomenon. An increasing number of employees are being encouraged to retire early due to social and economic factors. The findings of a survey of…
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Retirement is a relatively new phenomenon. An increasing number of employees are being encouraged to retire early due to social and economic factors. The findings of a survey of 52 organisations (17 public sector, 35 private sector) with either head office or divisional bases in the northwest of England are discussed. It seems that the number of organisations offering preparation for retirement (pfr) is increasing. It is most commonly offered in larger organisations. Pfr should consider psychological and philosophical matters as well as mundane issues. There is a need to improve techniques and methods currently employed in the evaluation of pfr.
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Examines the small but growing literature placing career related behaviours and practices within their national context and outlines a Western framework of career strategies…
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Examines the small but growing literature placing career related behaviours and practices within their national context and outlines a Western framework of career strategies. Identifies some of the key economic, social and political developments in Ethiopia’s recent history and presents and discusses data from a survey of Ethiopian careerists which explores factors influencing career decisions, levels of (and reasons for) career optimism/pessimism, and career strategies employed. Data from a previous study are presented to enable a comparison of the strategies of Ethiopian and UK careerists. Ethiopian careerists are found to make use of all those career strategies used by UK careerists and, in addition, employ “national politics” and “family and tribal/ethnic affiliations” in their efforts to gain career advancement.
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Within the context of increasingly uncertain career prospects for the UK’s recently expanded student population, examines the career‐related perceptions and expectations of UK…
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Within the context of increasingly uncertain career prospects for the UK’s recently expanded student population, examines the career‐related perceptions and expectations of UK business studies undergraduates. Presents data relating to career goals, factors influencing career decisions, levels of (and reasons for) optimism/ pessimism, and anticipated strategies for advancement. Also puts forth comparative data on employees’ career strategies. Identifies and discusses response differences between (1) employees and students and (2) male and female students in relation to wider research. The sample consisted of 257 students (150 full‐time and 107 part‐time) enrolled on business subject courses at The University of Central Lancashire.
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With over 8,400 mutual funds available to U.S. investors, the battle for shelf space has never been more intense. Fund advisers or “manufacturers” are caught in a classic squeeze…
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With over 8,400 mutual funds available to U.S. investors, the battle for shelf space has never been more intense. Fund advisers or “manufacturers” are caught in a classic squeeze by distributors demanding a bigger piece of the revenue pie. In this environment, distributors and investment advisers must deal carefully with the conflicts and SEC concerns that inevitably arise. Financing for fund share distribution, an enormously costly activity, is from three sources: from front‐end and deferred sales charges paid directly by shareholders, from asset‐based sales charges paid by the fund, and from the adviser’s own assets. Reciprocal sales deals should be considered within the context of an adviser’s best‐execution and soft‐dollar policies and procedures. Trading portfolio commissions for fund sales efforts presents conflicts, but the conflicts are manageable if controls are put in place and driven by senior management and legal/compliance staff.
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In the 1970s, the United States Congress enacted two statutes that have had dramatic and far‐reaching effects on the education of handicapped children by public schools. These two…
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In the 1970s, the United States Congress enacted two statutes that have had dramatic and far‐reaching effects on the education of handicapped children by public schools. These two laws, Section 504 of the Rehabilitation Act of 1973 and the Education For All Handicapped Children Act of 1975 (known as Public Law 94–142), have required local public school agencies to provide new eductional programs for thousands of handicapped children not previously served by the public schools. Counselors, principals, and teachers were quickly informed of the law's requirements and willingly began the task of main‐streaming and assimilating these children into various curricula. Their physical needs were attended to rapidly; their societal and emotional needs, unfortunately, lagged behind. Within the past seven years, there has been an increase in books, articles, and films specifically addressed to counseling the handicapped. Unlike past literature which focused only on the vocational aspect of rehabilitation counseling, current writing emphasizes personal counseling meant to assist a disabled child to participate fully in the problems and joys of daily living.
Defines the different categories of client that a consultant must deal with and the levels of intervention that must be considered in relation to client types. Examines the…
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Defines the different categories of client that a consultant must deal with and the levels of intervention that must be considered in relation to client types. Examines the principles of process consultation that must be observed in any client relationship. These principles show how process consultation as a form of helping differs from other kinds of consultation. Argues that every consultant needs to be able to play the process consultation role.
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David P. Stowell and Evan Meagher
Gary Parr, deputy chairman of Lazard Freres & Co. and Kellogg class of 1980, could not believe his ears. “You can't mean that,” he said, reacting to the lowered bid given by Doug…
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Gary Parr, deputy chairman of Lazard Freres & Co. and Kellogg class of 1980, could not believe his ears. “You can't mean that,” he said, reacting to the lowered bid given by Doug Braunstein, JP Morgan head of investment banking, for Parr's client, legendary investment bank Bear Stearns. Less than eighteen months after trading at an all-time high of $172.61 a share, Bear now had little choice but to accept Morgan's humiliating $2-per-share, Federal Reserve-sanctioned bailout offer. “I'll have to get back to you.” Hanging up the phone, Parr leaned back and gave an exhausted sigh. Rumors had swirled around Bear ever since two of its hedge funds imploded as a result of the subprime housing crisis, but time and again, the scrappy Bear appeared to have weathered the storm. Parr's efforts to find a capital infusion for the bank had resulted in lengthy discussions and marathon due diligence sessions, but one after another, potential investors had backed away, scared off in part by Bear's sizable mortgage holdings at a time when every bank on Wall Street was reducing its positions and taking massive write-downs in the asset class. In the past week, those rumors had reached a fever pitch, with financial analysts openly questioning Bear's ability to continue operations and its clients running for the exits. Now Sunday afternoon, it had already been a long weekend, and it would almost certainly be a long night, as the Fed-backed bailout of Bear would require onerous negotiations before Monday's market open. By morning, the eighty-five-year-old investment bank, which had survived the Great Depression, the savings and loan crisis, and the dot-com implosion, would cease to exist as an independent firm. Pausing briefly before calling CEO Alan Schwartz and the rest of Bear's board, Parr allowed himself a moment of reflection. How had it all happened?
An analysis of the fall of Bear Stearns facilitates an understanding of the difficulties affecting the entire investment banking industry: high leverage, overreliance on short-term financing, excessive risk taking on proprietary trading and asset management desks, and myopic senior management all contributed to the massive losses and loss of confidence. The impact on the global economy was of epic proportions.
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