Fairness Is Good Management

In: Business and Management

Submitted By nero17co
Words 724
Pages 3
FAIRNESS IS GOOD MANAGEMENT

Fairness is just good management. We already know that if you want to be a good manager you have to be fair to all. But what does that mean? And how can you be fair more often to more people?
What Does Fairness Mean?
It is part of the quirkiness of the English language that fair means according to the relative merits of each or consistent with rules and logic. However, it also means moderately good or satisfactory. So a fair manager can mean either one who treats others fairly or one who is only moderately good as a manager. Our goal is the first meaning.
Why Is Fairness Good Management?
When asked, a group of almost 2200 people reported fairness as the most important trait of a boss for who whom they would want to work.
When you treat your employees fairly they spend less time worrying about who else is getting an unfair share. They don't spend a lot of time looking for ways to increase their own share. They spend less time looking for another job. And they spend more time working for you and getting more done.
When you treat others fairly two things happen. Your own employees notice and respect you for it. It reinforces their belief that you are treating them fairly and will continue to do so. Second, the other people who you treat fairly will respond in kind. You will get better cooperation from them. That makes your job and the job of your employees easier too.
How To Be A Fair Manager
A good manager is one who treats everyone fairly. That means his/her employees, but also his superiors, her peers, employees in other departments or companies, everyone. * The golden rule
When you are fair, you treat others as you wish they would treat you. * No favorites
A manager who is fair does not play favorites. You don't give anyone all the good jobs, or all the bad jobs, just because of how you feel about them. You treat them…...

Similar Documents

Fairness Opinion

...this HeinOnline PDF indicates your acceptance of HeinOnline's Terms and Conditions of the license agreement available at http://heinonline.org/HOL/License -- The search text of this PDF is generated from uncorrected OCR text. -- To obtain permission to use this article beyond the scope of your HeinOnline license, please use: http://www.copyright.com/ccc/basicSearch.do? &operation=go&searchType=0 &lastSearch=simple&all=on&titleOrStdNo=0012-7086 FAIRNESS OPINIONS: HOW FAIR ARE THEY AND WHAT CAN BE DONE ABOUT IT? LucIAN ARYE BEBCHUKt AND MARCEL KAHAN* INTRODUCTION Fairness opinions have become a regular feature of every major corporate control transaction. Whether in negotiated mergers,1 freeze-out mergers, 2 hostile tender offers, 3 friendly tender offers,4 self-tenders, 5 leveraged buyouts, 6 negotiated share repurchases, 7 or negotiated sales of treasury stock,8 directors seek the blessing of investment banks before approving transactions or adopting defensive measures. These banks give their blessings in the form of fairness opinions, which usually consist of short letters that state an opinion about whether a proposed transaction is "fair" or "adequate." 9 In addition, the banks often give presentat Professor of Law, Harvard Law Schaool; Faculty Research Fellow, National Bureau of Economic Research. * Visiting John M. Olin Scholar, fall 1988, Harvard aw School; Associate, Kramer, Levin, Nessen, Kamin & Franke. For financial support, both authors are grateful to......

Words: 14271 - Pages: 58

Supply Chain Management for Indor Wood Goods

...minh Châu Âu Tổ chức lương nông Tăng cường thực thi Luật lâm nghiệp Đầu tư trực tiếp nước ngoài Hội đồng quản lý rừng Tiêu chuẩn gỗ có kiểm soát FSC dành cho các tổ chức quản lý rừng vii FOB GFTN GIZ HAWA ITC ISO ITTO IJPR LACEY OEM RA R&D RCA SC SCM VIFORES TI UNIDO USD WTO WEF JICA Free On Board Global Forest & Trade Network Deutsche Gesellschaft fur Internationale Zusammenarbeit Handicraft and Wood Industry Association International Trade Center International Organization for Standardization International Tropical Timber Organization International Journal of Production and Research The US LACEY Act Official Equipment Manufacturer Regression Analysis Research and Development Reveal Comparative Advantage Supply Chain Supply Chain Management Vietnam Timber &Forest Product Association Trade Intensity United Nations for Industry and Development Organization United State Dollar World Trade Organization World Economics Forum Japan International Cooperation Agency Hết trách nhiệm khi hàng đã lên tàu Mạng lưới lâm sản toàn cầu Tổ chức hợp tác quốc tế Đức Hiệp hội mỹ nghệ và chế biến gỗ Trung tâm thương mại quốc tế Tổ chức quốc tế về tiêu chuẩn hoá Tổ chức quốc tế về Gỗ nhiệt đới Tạp chí quốc tế về sản xuất và nghiên cứu Đạo luật LACEY về cấm khai thác gỗ lậu của Hoa Kỳ Nhà sản xuất thiết bị chính thức Phân tích hồi quy Nghiên cứu và phát triển Lợi thế so sánh hiện hữu Chuỗi cung ứng Quản trị chuỗi cung ứng Hiệp hội gỗ và lâm sản Việt Nam Tăng cường thương mại Tổ chức Phát triển...

Words: 53936 - Pages: 216

Fairness and Honesty

...business experience to understand what is acceptable or ethical. Deciding if an activity is considered ethical depends on the culture the business operates (Ferrell). Fairness and honesty are amongst the biggest issues in business related ethics. It can become a very difficult problem that can and will affect the business. We know that ethics concerns moral issues, so making a decision that will have negative impact on the company is going to be tough for the person. An individual can make either a right or wrong decision, depending on how it will affect their life and workplace. In turn, the business will react accordingly to its moral guidelines and principles provided that the executives do not lose sight of the essential value of fairness. Everyone will have their own concept of right and wrong, so coming up with one definition of business ethics can be difficult. Moral standards are created by home environment, religious beliefs and traditions therefore making ethics hard to define, but not impossible to create (Agbata). At minimum, employees are expected to follow all applicable laws and regulations. Beyond the scope of obeying the law, they are expected not to harm customers, employees, clients, or competitors knowingly through deception, misrepresentation, coercion, or discrimination. Honesty and fairness can relate to how the employees use the resources of the organization (Ferrell). It is a known fact that more than two-thirds of employees have taken office......

Words: 1308 - Pages: 6

Good Example of Personal Statement (Management)

...universal ideas in order to strive. That is what I desire to achieve, to become a specialist at communicating with people, managing them and fulfilling my ideas professionally. These are the reasons why I wish to study Management at your University. Being a team leader has always been one of my main strengths. I am good at communicating with team members and bringing out the best in them. I have participated in the Lithuania’s Junior Achievement program, and had the opportunity to test my leadership skills. The program consisted of simulations of various business problems that require analytical thinking and to be able to successfully work in a team. I was the team leader and our team performed very well, we were ranked among the top 10 of the best teams. Another strength is that I never hesitate to speak in English when I have the opportunity. This is mainly because it has always been interesting for me as a language and I had the chance to participate in several English language contests in the Baltic States. I have not won any medals, but the experience and knowledge gained has undoubtedly benefited me in both school and daily life activities. Active participation in school has always been my main objective, because I sincerely believe that having a good background in school is of key importance in order to successfully gain knowledge in University. Order is what I truly value, so I tend to complete tasks in time, never leaving anything unfinished. Patience and......

Words: 593 - Pages: 3

Fairness Cream

...among the companies working with the fairness cream segment of FMCG industry. HUL is leading the market in many segments from last couple of decade. But right now it is facing a good competition from the other existing companies like P&G, Marico, Godrej, Dabur etc. A full data of these companies and there market share is given in the following above table. Market Share of Companies Company % HUL 46.2 P&G 6.3 Dabur 5 ITC 6 GCPL 2.1 Emami 14.3 Cavin Care 11.5 Marico 8.6 Prices of Various Fairness Creams Product Qty Price Fair and Lovely Multi Vitamin 50 82 Nivea 50 290 Garnier Light 40 125 Olay Natural White 50 310 Pond's White Beauty 50 219 L'oreal 18 299 Lakme Perfect Radiance 50 170 Clean & Clear 50 170 Neutrogena 50 235 Himalaya Fairness 50 65 Dabur Uveda 30 115 Fairever 50 78 Fairone 50 300 Emami 50 90 Raaga 25 79 VLCC 50 240 Kaya 50 891 Fair & Lovely Fair & Lovely is the World's No.1 fairness cream of skin care brand which is developed by Hindustan Unilever Limited (HUL) in the year 1975. This skin is termed as the world's first fairness cream, and used by both men and women for soft and clear skin. This skin contains no bleach or any harmful ingredients. This fairness cream brings real beauty and fairness on the skin and can be visible by others. Types of Fair & Lovely cream are outlined below for ready reference: • Fair & Lovely Advanced Multi Vitamin Daily Fairness Expert This fairness cream is enriched with many......

Words: 2564 - Pages: 11

Good Management

...Production supervisor Khairul Anuwa (R) overseeing lanthanum oxide product finishing in the tunnel furnace at Lynas Advanced material Plant, Gebeng, malaysia. BOARD REnEWAL I would like to take this opportunity to thank my Board colleagues, the Lynas management team, and our employees and contractors for their efforts and commitment during the 2013 financial year. We have now completed building the world’s biggest, most advanced, and environmentally-friendly rare earths plant, and offer our customers an integrated, sustainable source of rare earths. Our vision of being “the global leader in rare earths for a sustainable future” is truly achievable. Following the achievement of first production for customers from the LAMP, the Lynas Board determined it an appropriate time to implement the planned CEO succession. Consequently, from March 31, I became a non-executive Chairman and Eric Noyrez was appointed an Executive Director and Chief Executive Officer. With the subsequent appointment in August 2013 of Jean-Claude Steinmetz as Chief Operating Officer, based in Malaysia, I believe Lynas now has two very qualified and capable senior executives with a collective 70-plus years of rare earths, chemicals and industrial company management expertise. Also in August, David Davidson and Zygmunt Switkowski announced their departure from the Lynas Board. On behalf of my Board colleagues and the entire company, I would again like to thank David and Ziggy for their counsel and their......

Words: 54950 - Pages: 220

Men's Fairness

...Clinical & Experimental Dermatology Research Research Article Junaid et al., J Clin Exp Dermatol Res 2014, 5:2 http://dx.doi.org/10.4172/2155-9554.1000212 Open Access Indian Cosmeceutical Market: A Study of Consumer Preferences and Consumption Patterns Abdullah Bin Junaid*, Reshma Nasreen, Ravichandran N and Faheem Ahmed Department of Management, Jamia Hamdard, New Delhi, India Abstract The study was done to investigate various factors that are associated with the consumption behaviour of the consumers in the Indian market. This study also tries to find out the new and emerging trends of the Indian cosmeceutical industry. The research first sought to explore how different variables influence the behaviour of the consumers regarding the usage of cosmeceutical product. Various factors such as self esteem, the decision making process while purchasing the cosmeceutical products etc were also studied in depth. However this study also tries to examine the various key determinants involved in the purchasing behaviour of consumers while purchasing their cosmeceutical product. The target sample was above 15 years. The sample size is 120 and the sampling method used is the quota sampling method. The study was conducted in six different cities of India that are Delhi, Mumbai, Kolkata, Lucknow, Jaipur and Patna. Among these six cities three are metro cities and the rest of the three are Tier-I cities. Delhi, Mumbai and Kolkata are the metro cities and luck now, Jaipur......

Words: 7734 - Pages: 31

Fairness Cream

...www.allprojectreports.com Project Report ON "BUYING BEHAVIOUR TOWARDS FAIRNESS CREAMS" Supervisor : Submitted by : Remarks of Evaluator Approved/Disapproved Approved/Disapproved (I Evaluation) (II Evaluation) Session : University www.allprojectreports.com REVIEW OF LITERATURE & PROBLEM STATEMENT In the present era of competition the vary existence of any business depends upon its customer bank. Customer is the king in present business world. Gone are the days when producer or seller used to rule the business world. Today customer is the main pillar on which any business stands. Due to entry of the MNC's there is cut throat competition in the market. They have already established in urban markets and now rural and suburban areas are the thrust areas. I have chose "To Study the Consumer Buying Behaviour towards Fairness Creams" to have a deep knowledge of consumer behaviour regarding fairness creams. In my research I have tried to find out main brand used? Why these brands are used ? Factor affecting their purchase behaviour like price, quality, results, etc. I also have tried to find out relation in buying behaviour and age, sex, family income. The research study is a comprehensive survey to reach deep in the consumption pattern of the target customer. www.allprojectreports.com RESEARCH METHODOLOGY Research methodology is a way to systematically represent a research on any problem. It tends taken by the researcher in studying the research......

Words: 1017 - Pages: 5

Perceived Fairness of Yield Management. Case Study

...Reference: Kimes, S.E. (2002). Perceived fairness of yield management. Cornell Hotel and Restaurant Administration Quarterly, 43, 21-30. doi: 10.1177/0010880402431002 Kimes investigated yield management and whether customers perceive it fair. The first objective was to determine if customers believe maintenance of a profit through raising the price to be fair. The second objective was to discover if increase in prices that leads to increase in profit identified by customers as unreasonable. The third objective of the research was to find out whether the same price with decreased costs is considered reasonable from customers prospective. When implementing yield management, managers should consider long-term profits as well as short-term profits. Otherwise, the consequences can be disastrous (Hayes & Abernathy, 1980 in Kimes, 2002). The previous researches also have found that perceived fairness is very important in managing long-term profits (Thaler, 1985 in Kimes, 2002). To better understand the definition of fairness the author discussed the concept of a “reference transaction” (Kahneman, Knetsch & Thaler in Kimes,2002). This concept implies that customer have a clear vision of how the transaction should be conducted and how much it should cost. Also, to understand the position of a customer in a transaction, the researcher mentioned the position of a customer where the value to one should equal to the value to the firm (Kahneman, et al., in......

Words: 611 - Pages: 3

Fairness

...and governed by the people. In light of such vision and in order to arrive at an answer to the question "Is a democratic system fair?" we must first examine if our current system is democratic and if it presents traces of fairness. I have found that a great number of people mistakenly confound the term "freedom" with "democracy" to the point of making the two terms interchangeable. These concepts are different both in nature and structure. Freedom, for example, is not driven by the notion of equitable distribution of wealth but rather by economic divisions. Those who are richer are more “free” than others with fewer advantages. This is one of the greatest characteristics of our capitalistic way of life. The structure of capitalism is similar to that of a pyramid in which the apex corresponds to those with the greater economic power and the control over those below them. Under close observation we can clearly arrive at the presumption that equitability is not the capitalist concern. When the concentration of wealth is limited to a minority, and when this lesser part in control determines the economic outlook, the system moves closer to an elitist society in which only those on the top take decisions and ultimately create the rules. In this sense, then, fairness is out of the question since it entails the equal distribution of advantages and benefits....

Words: 356 - Pages: 2

Fairness Opinion

...FAIRNESS OPINIONS IN MERGERS AND ACQUISITIONS Anil K. Makhija* The Ohio State University Rajesh P. Narayanan Ohio University April 11, 2007 ____________________________________________________________ __________________ Abstract Fairness opinions provided by investment banks advising on mergers and acquisitions have been criticized for being conflicted in aiding bankers further their goal of completing the deal as opposed to aiding boards (and shareholders) by providing an honest appraisal of deal value. We find empirical support for this criticism. We find that shareholders on both sides of the deal, aware of the conflict of interest facing advisors, rationally discount deals where advisors provide fairness opinions. The reputation of the advisor serves to mitigate this discount, while the contingent nature of advisory fees appears to have no impact. We also find support for allegations that fairness opinions are sought by boards for the legal cover they provide against shareholders unhappy with the deal’s terms. JEL Classification: G34, G24 Keywords: Fairness Opinions, Mergers and Acquisitions, Investment Banking ____________________________________________________________ __________________ *Corresponding author: Anil K. Makhija, 700 E. Fisher Hall, Fisher College of Business, The Ohio State University, Columbus, OH 43210. Tel: (614) 292-1899. E-Mail: Makhija.1@osu.edu. We are grateful for comments from Angie Low, Brian Nocco, Robert Rosholt, and René Stulz,...

Words: 14214 - Pages: 57

Fairness Cream

...Doing Well by Doing Good Case Study: ‘Fair & Lovely’ Whitening Cream Aneel Karnani Stephen M. Ross School of Business The University of Michigan 701 Tappan Street Ann Arbor, Michigan 48109-1234 Phone: (734) 764-0276 Fax: (734) 936-8715 E-mail: akarnani@umich.edu March 2007 UNIVERSITY OF MICHIGAN Doing Well by Doing Good SMJ 07-6615 rev Doing Well by Doing Good Case Study: ‘Fair & Lovely’ Whitening Cream Abstract According to the ‘doing well by doing good’ proposition, firms have a corporate social responsibility to achieve some larger social goals, and can do so without a financial sacrifice. This paper empirically examines this proposition by studying in depth the case of ‘Fair & Lovely,’ a skin whitening cream, marketed by Unilever in many countries in Asia and Africa, and, in particular, India. Fair & Lovely is indeed doing well; it is a profitable and fast growing brand. It is, however, not doing good, and I demonstrate its negative implications for public welfare. I conclude with thoughts on how to reconcile this divergence between private profits and public welfare. Key Words: Corporate social responsibility; bottom of the pyramid 2 Doing Well by Doing Good SMJ 07-6615 rev The idea that companies can do well by doing good has caught the attention of executives, business academics, and public officials. The annual report of virtually every large company claims its mission is to serve some larger social purpose besides making profits. The......

Words: 4696 - Pages: 19

The Right Culture and Effective Teams = Good Safety Management : )

...words it is part of their culture. There are four essential elements for effective team management: The culture of the organization must lead, support and protect teams. People, managers and workers, must have or acquire the interpersonal and rational skills required to work effectively on a team. People must be given the opportunity to practice team skills before working on an actual team managed project and continually thereafter. It will take time and patience to develop and hone these skills. As teams progress they must be given the appropriate level of authority to implement ideas and recommendations without management oversight. Teamwork has to become the intricate part of management structure and culture. The two important questions for the future of our company are: Is our culture the right one for the new challenges of management? Is our company ready for teams to manage quality, productivity and safety in our operations? Culture has a direct effect on how managers interact and treat employees relative to work performance, training, ethical behavior, individual job skills and safety. Culture plays a major role in determining what a manager will do when he is forced to make a choice between production vs. safety. Culture guides a manager's thinking about safety when stress or a crisis is introduced to the system. Culture ultimately determines if management walks the talk when it comes to living the safety values of the company. Many managers......

Words: 638 - Pages: 3

Fairness

...Assignment 2 Fairness DEAKIN UNIVERSITY ECL 776 - Language Testing and Assessment Unit Chair: Dr. Rod Neilson Adam Scott 500148222 Introduction Testing is a fundamental aspect of human nature and society. Humans have used tests for psychological and physical inclusion since history began. The importance is evident in early literature such as Homeric text where allusions to testing are personified as gods challenging man. Undoubtedly, tests in those times had their own high-stakes nature, perhaps being the life of an individual, and while this may seem extreme and unfair in the twenty-first century, in its context was perhaps necessary to ensure the survival of a group. This protectionism no doubt persists today, evident in social policy and language norms. Although the stakes have changed, entry to a society is no less high contextually in terms of financial and emotional currency. Now as the dominant species the survival of the fittest no longer seems relevant, so attention must be drawn to current gate-keeping practices and not only their necessity but also whether or not they are fair. While language testing has become standard practice in many countries it has also become politicized especially as a means of power (Hamp-Lyons, 1997a; Shohamy, 2001). In this case the term fairness becomes problematic because determining whether it is society or the political class who has set the standards has many implications. Language testing systems employed by......

Words: 2563 - Pages: 11

Operations and Supply Management for Goods and Services

...Operations and Supply Management: Goods and Services Similarities and Differences between Goods and Services The similarities between good and services are that goods and services provide value to the customer, and they can both be made to fit what a customer wants or needs. The delivery of both goods and services require a process to get to final delivery, so operations management is a critically important skill for both (Collier, 2007). According to Jacobs, there are five things that differentiate goods from services. They are, first, a service is an intangible process that cannot be weighed or measured, but a good has a physical presence that can be. Second, a service must be delivered via interaction with a customer whereas a product is manufactured somewhere away from the customer. Third, how a service is delivered varies as this is dependent on the customer, the service provider and the situation, but the production of goods has no variability. Fourth, the process of delivering a service is dependent on time and can’t be stored, and fifth, services are evaluated as a package of features that include the facility, goods involved in the process, and explicit and implicit services (Jacobs, pp. 11-12). Collier goes on to name a few more differences, namely the demand for services is more difficult to predict and service management skills are vital to the successful delivery of a service. Operations Management and Production Differences for Goods and......

Words: 1020 - Pages: 5