Tuesday, 18 January 2011

Leadership & Management

In this lesson of Creative Industries we looked at roles within companies and their roles, focusing on the role of a leader. We initially looked at Meredith Belbin's "Team Role Chart", which outlined the 3 role variants that can be found in the working place, these being: Action Orientated roles, People Orientated roles and Cerebral Orientated roles. It's good to first Identify what type of role you work within as this will help you decided what role you would be sorted for a company.

When going in for a job straight from university it's always best to apply for positions as a junior or for an internship as this will give you the professional experience that you need to aim for better paid positions.

When looking for employment you also need to consider where you're heading, do you want to head all the way up to management? What makes an effective manager? well these do: Listening skills, being informative to colleagues, being a good communicator to get the best from your workers, innovative thinking.

It's always a good idea to include these types of statements in a personal statement in a CV, but remember management roles can be difficult and are more difficult to fill.

We next looked at what makes an effective leader, these qualities being: charismatic, a visionary, will question everything, ability to network and expand horizons, make coalitions between other companies, management skills and the ability to see things from new angles.

When writing your CV think, what can you offer the company...simply choose one or more of the above. The easiest ways you can research your future job is by checking their website such as a news section (if the have one) you can also research the type of skills their looking for this way too.

So, what you've got a CV to inform the company you're going to work for, but what should you know about the company? well, their status for one, how secure is you're job going to be? is the company going over, are you getting on a sinking boat? etc. Next consider their structure, is there a chance for you to progress inside the company? and finally consider their geographic location, are you prepared to uproot your life for a £40,000 + paying job? ( I would...), consider the opportunities as well, the community, are they well connected with other businesses of the same trade? Finally, consider their values and ethics, you don't want to work for people who clash with your lifestyle and belittle your beliefs (I don't quite understand this part but whatever it's something you should consider).

We next looked at setting up your own company looking into shares and how they're distributed between Share Holders/Directors. If you are the owner you can divide the 100% of the shares in any way you see fit, for example by: roles, equality and so on. You can also divide shares but this also diminishes their worth. For example you can take 20 shares which is worth £200 and divide it into 20,000 shares making each share worth £0.01. This is usually done when changing a limited company into a public one, meaning that eventually the public can accumulate enough shares to out buy you from your own company, but it also means you can have more investors.

Returning to the idea of a company's status you're probably thinking, how is it determined? well quite frankly it's determined several things, thie first being, what they do with the profits, do they put it back into the company? increase peoples wages? etc. Next their legals Status, Limited, public partnership, social enterprise?

Legal statuses can effect a range of things such as how much tax they pay, how much the owner and you are payed and their ability to borrow money.

We next looked at Taxation and threseholds, the first thing being that you don't pay tax in the UK until you earn more than £6,475 a year. Next we looked at Tax bands, if you earn the following you have to pay the respective percentage from your yearly income:
£6,475-£37,400 = 20%
£37,401-£150,000 = 40%
£150,000+ = 50%

Next comes payment to National Insurance, if you're (class 2) self employed you pay £2.40 per week (or monthly debit), if you're (class 4 self employed) 8% is collected annually from profits up to £4,875 and an extra 1% if you go over. If you're (class 1) earning under £6,475 annually 3.7% is payed by your employer on your behalf.

We next looked at the various responsibilties and obligations for company types, then going on to look further into tax, but the main bulk of this lesson was looking at leadership roles in companies and what you're expecting of them and what their expecting to do, after this lesson I can say that I'm much more informed about applying for roles in companies, and taxes.

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