We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

NAB’s Rogue Trader Essay Sample

essay
  • Pages: 2
  • Word count: 293
  • Rewriting Possibility: 99% (excellent)
  • Category: employment power

Get Full Essay

Get access to this section to get all help you need with your essay and educational issues.

Get Access

Introduction of TOPIC

1. What were the main sources of power that Luck Duffy used to keep everyone in line with his irregular business practices? Describe how we applied these power sources to influence employees and senior executives. The main source of Luck Duffy is from legitimate power which is an agreement among organizational members that people in certain roles can request certain behaviors of others. Legitimate power gives employer’ right and obligation to ask employee what tasks to perform. In this case, Luck Duffy who ran NAB foreign currency options desk wants Gentilin demand loyalty and don’t want he going to Dillon about what’s happening in the team.

2. What contingencies strengthened Luke Duffy’s power at NAB foreign currency options desk? Visibility strengthened Luck Duffy’s power at NAB foreign currency options desk. Because the power does flow to unknown people in this bank. In this case, Gentilin described that Duffy, Dillon and a few other senior traders were “untouchables” who were given free rein at NAB due the their expertise.

3. What can companies do to minimize this sort of abuse of power and influence? Alternative 1: This company should do audit periodically, the audit can immediately find wrong-doing among employees and employers. Alternative 2: Coalition Formation: the people who find problems of power flow in organization and lack of sufficient power alone to influence others in the organization, they should ask people who can support the proposed change. Alternative 3: Upward Appeal: this action is that someone with higher authority or expertise is called on to support the influencer’s position. In this case, Gentilin asked Vanessa who is a junior NAB trader in Melbourne to look at Duffy’s transactions.

We can write a custom essay on

NAB’s Rogue Trader Essay Sample ...
According to Your Specific Requirements.

Order an essay

You May Also Find These Documents Helpful

UK Commission for Employment and Skills

In our care setting, working with autistic vulnerable adults with challlenging behaviour, duties and responsabilities are a bit different from many other similar care settings. Although we all adhere to same legislations and follow same sets of rules, our duties also include fare share of "educational" skills and approaches to individuals, that we care for, in a more supporting manner than just personal care. Basis of our duties and responsabilities remains in a domain of personal care, but after that, it becomes so much more. Our main responsabillity is to ensure that our service users remain in control - according to their capacity - of their lives. To ensure that they participate in any given activity on a daily basis, weather it is basic personal care or more complex actions, like social engagment. All of that makes our work very challenging on a daily basis. Our administrative side of work...

Personnel Planning and Recruiting

Type of recruitment and selection CIMB Group Holdings Berhad will conduct two types of recruitment in the form of internally and externally. In the recruitment and selection process, the management usually will request Human Resources department to decide certain circumstances such as approval, resigned and retired. The table below shows the type of recruitment in the form of internally and externally. Type of Recruitment SourcesInternally Recruitment Learning and Development within the organization. Externally Recruitment Walk-in Newspaper College recruiting Online register Headhunters Internally CIMB Group is preferred to fulfill position by offering to their existing employees in the learning and development programme. Career development is a journey, not a destination. Each employee is given the opportunity approach to learning and development include group projects (some are cross-border), job rotation, regional mobility, online learning, coaching and mentoring. CIMB Group regional business academies develop various programmes to strengthen their employees’ domain expertise while...

Employee Resourcing

This essay is going to give my views and opinions on how working practices and patterns have changed and the impact these changes have had on the employment relationship. There many areas one could have examined when discussing the employment relationship, perhaps beginning with Taylor and scientific management to work life balance, but for the purpose of this essay, I'm going to begin by briefly looking at some early patterns such as the human relations movement to more current practices like flexible working. EARLY PATTERNS & PRACTICES The human relations movement dominated management thinking until the 1950's and it can be argued that it was a significant influence on the development of modern HRM. The human relations movement promoted the benefits to morale and productivity of a paternalistic style of management in which the worker was to be seen more as a member of the family than as a mere...

Popular Essays

logo

Emma Taylor

online

Hi there!
Would you like to get such a paper?
How about getting a customized one?