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Scenario B. At a management retreat, you and a group of your colleagues are reminiscing about how much you enjoyed college life. Everyone remembers their favorite management topics. You are all surprised to realize that each of you has a favorite leadership perspective. However, no one can remember the name of the theory they liked most!
1. Tammy Jean knows that her favorite leadership perspective is the one that assumed that leaders are born, not made. (This is because Tammy Jean does, in fact, believe she is a "born leader!")
2. Li, on the other hand, has found that her most effective style of leadership is to capitalize on the fact that she arouses a sense of excitement in her employees, who genuinely like and admire her and want to follow her lead.
3. William argues that his favorite theory recognized that the best answer concerning which style of leadership to use is "It depends!" He maintains that the theory he liked the most argued for "looking before you lead."
-Tammy Jean's favorite leadership perspective is the
Periodic Inventory System
An inventory accounting practice where physical counts are performed at specific intervals to determine the cost of goods sold and ending inventory levels.
Voucher System
A method for processing accounts payable where a document (voucher) is prepared for every payable transaction, detailing the goods or services received, amounts to be paid, authorization, and accounts to be charged.
Net Method
An accounting method for recording purchases at the net of any trade discounts or rebate.
Discount Period
The amount of time the bank holds a note that was discounted until the maturity date.
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