Larry Tobin Is Now President of Fairwinds Credit Union in Florida

question 127

Multiple Choice

Larry Tobin is now president of Fairwinds Credit Union in Florida where he started as a part-time teller. He's learned to ignore one bit of advice he's frequently heard, "Work with what you have." Tobin doesn't buy that view. He subscribes to the philosophy that calls for "having the right people on the bus and the right people in the right seats on the bus." After Tobin assumed the helm at Fairwinds, he made several personnel changes. This ability to make these personnel changes defines Tobin's______ .

• A) employee orientation
• B) position power
• C) goal specificity
• D) Instrumentality
• E) tactical leadership skills

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Definitions:

Stockholders' Equity

The value of a company divided among its shareholders, often represented as the difference between assets and liabilities.

Additional Paid-In Capital

The amount of money investors have paid for shares above the nominal value during stock issuances, reflecting excess capital received by a company.

Dividends In Arrears

The unpaid dividends on preferred shares that have not been distributed to shareholders, typically because a company has insufficient profits.

Cumulative Preferred Stock

Preferred stocks where dividends accumulate if not paid in a given period and must be paid out before any dividends can be distributed to other types of shares.