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The Management Specialist Vol 2 No 3
1. ISSN 2046-1291
THE MANAGEMENT SPECIALIST
The International Journal of The Institute of Management Specialists
Volume 2 No. 3 January 2016
The Institute of Management Specialists
PO Box 93
Moreton-in-Marsh
GL56 9WG
United Kingdom
www.instituteofmanagementspecialists.org.uk
info@instituteofmanagementspecialists.org.uk
The Institute of Management Specialists is a trading name of Industrial Management Specialists (IMS) Ltd. Registered in England No: 990098
Registered Office: Highdown House, 11 Highdown Road, Sydenham, Leamington Spa, Warwickshire, CV31 1XT, England
2. 1
THE JOURNAL OF THE INSTITUTE
OF MANAGEMENT SPECIALISTS
VOLUME 2 NUMBER 3 JANUARY 2016
CONTENTS
Page
Editorial 2
Message from the President 3
News 4
Professional Diploma in Project Management Development 5
Motivation by Dr T J O’Mahoney 6
New Specialised Managers 9
NLP: What Leaders Should Know by Kohol Shadrach Iornem 11
Networking on LinkedIn 14
Avoid the Funeral of a Living Cult: And Celebrate the Joys in the Turbulent Year
by Prof Samuel Lartey
15
Bank of America Gets Away with Massive Fraud, Racketeering and Money Laundering
by Prof Dr Rabbi Abe Abrahami
18
The Main Management Skills of a Security Manager and their Importance
by Andreas Nickolaos Akratas
21
Quest for Professionalism in Teaching in a University Setting: Salient Issues for
Reflection by Dr Oyat Christopher
25
Actuarial Science at a Glance & Brief Write-up on Vocational Education/Training
by Adamu Daniel Kamaru
29
IMS Reciprocal Organisation Feature: Audit Managers Association of Nigeria 33
3. 3
Editorial
We wish all members a very
happy and prosperous New
Year as we look ahead to
2016 and our ongoing
development and growth.
You are no doubt all aware by
now of our new postal
address: PO Box 93, Moreton-in-Marsh, GL56
9WG, United Kingdom.
This year, 2016, The Institute of Management
Specialists becomes 45 years old. Originally
founded in 1971 by a group of
experienced, specialised
managers headed by Professor
Dr Herbert Manners, the IMS
has grown in strength and
numbers to become the professional body for
Specialised Managers. We should like to call on
you, our members, to make a resolution for the
year ahead to introduce your professional
colleagues to our Institute – perhaps every
member could make it their aim to recruit just
one new member. To assist, we can send you a
display sheet to put on your company notice
board on request.
Continuous Professional Development (CPD)
submissions can still be made for your 2015
activities, so please send them in as soon as
possible. Submission forms are available to
download from the IMS website, or please email
the Administration and one will be sent to you.
Members who have gained a Specialised
Manager Award and completed their CPD reports
can qualify for Certified Specialist Manager
status for the coming year; annual CPD
submissions are required to maintain Certified
status.
Our recently recognised Specialised Managers
can be found on Page 9 of this journal and we
warmly congratulate Mr Simon Skerritt as a new
Certified Manager: Certified Specialist Manager
(Coaching & Project Management) FIMS and Mr
Ho Ying Kit, Dannies: Certified Specialist
Manager (Supply Chain Management) FIMS.
Our IMS/FIMC Professional Diploma in Total
Quality Management continues it’s success
through our Malaysia Chapter with another batch
of successful graduates recently qualifying. We
are now a nationally “Approved Training
Provider” in Malaysia with the Malaysia Ministry
of Human Resources.
There has been a small increase in membership
fee rates with effect from the beginning of the
year, and we encourage all members to pay their
subscriptions promptly on receipt of their renewal
invoices to save our costs in sending out
reminders for payments. If you have an
outstanding payment from last year, do please
remit it soon.
In November last year, we created a Company
Page on LinkedIn for IMS to help others learn
more about the Institute and to give us more
exposure and visibility. We are working to
increase the number of Followers that we attract.
Please see Page 14 of this journal and support us
in this endeavour.
Dr Lynne P Sykes
Executive Administrator
lynne.sykes@instituteofmanagementspecialists.org.uk
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DDuuaall MMBBAA // MMooMM PPrrooggrraamm –– LLeessss tthhaann $$UUSSDD 99,,000000
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4. 3
Message from the President
Is 2016 a year where the
world’s economy and those
working within it will
prosper or decline? Will this
be a year where our
resolutions and hopes are
realized or one where they
are dashed into bitter regret?
Every one of us, of course,
hopes for the former and we
will not know until December what the outcome
will be.
The financial markets of the world have not
started 2016 with a flourish. A major sell off of
shares in the Chinese stock markets has followed
a fall in Chinese heavy industrial production. The
following fall in demand for natural resources has
caused a collapse in prices further exacerbating
wider stock market price falls. To this mix, the
ongoing drop in oil prices is added where Saudi
Arabia has increased production to regain its
market share by making it uneconomic for other
producers to continue to take oil from the ground.
Good for consumers but bad for nations around
the globe who have relied upon their oil income.
However, let’s look at it from another
perspective; the Chinese economy is rebalancing
as it tries to move to a more consumer-powered
model. Employment in the west is improving
with occasional shocks where major job losses
are announced such as BP shedding 4000 roles
around the world. Can Saudi truly afford to
maintain its position indefinitely (actually, in that
example, they might be able to but would choose
not to).
What this turmoil shows me is that demand for
higher skilled employees continues to grow.
However, demand for less skilled personnel or
those who have not kept up to date is falling.
This mix is exacerbated by the impact of birth
rates in some parts of the world where the so-
called ‘demographic time bomb’ is going off. In
many developed western countries and China the
population balance between younger people and
those who are older and no longer economically
productive is changing with fewer people
working to support the ‘no longer working’
element of society. To other countries, this will
seem unbelievable where finding jobs for the
young is a challenge. This in turn may lead to
economic migration, particularly for the
professionally skilled members of society.
Against these backgrounds, specialist managers
will be in demand around the globe provided that
they have a track record of success coupled with
growth in their documented qualifications and
recognition. It is in this space that The Institute of
Management Specialists gives its members
support through established professional
qualifications and Continuing Professional
Development (CPD) leading to the Certified
Specialist Manager award.
The Institute celebrates 45 years of supporting its
membership in 2016. When we were founded we
were exclusively a UK professional body. Over
the years, that has evolved to the present count of
members in 37 countries across the globe and
covering both hemispheres together with East and
West of the Greenwich meridian. Our services
and qualification levels have grown in the same
period with demand to show specializations to
help members progress in their careers. Our links
with academic bodies and other professional
associations have also grown.
Going back to my opening questions, as a body,
we have limited impact on global economic
movements but we do need to understand them.
We can have an impact on you as our member by
helping you in your career through CPD and
qualification. As individuals, let’s resolve for the
year not to be one where we regret that we ‘did
not have the time’ to progress but to make it one
where we celebrate personal growth.
I wish everyone success and happiness in 2016.
Graham Hare
President
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IMS Malaysia Chapter
The status of our IMS/FIMC TQM Professional
Diploma program has recently received an
additional boost – we are now a nationally
“Approved Training Provider” in Malaysia with
the Malaysia Ministry of Human Resources.
Currently we have a further 45 successful
participants whose documents are being
processed for IMS Professional Membership and
TQM Professional Diploma.
IMS Hong Kong Chapter
www.stclementsu.net is the online platform of
SCU Swiss. We work with the Online Business
School to provide TQUK endorsed programs,
from Diploma to Postgraduate Diploma level.
Graduates of these programs can either study one
more course from a traditional University and
complete a thesis, or fulfil a simple requirement
of the final stage of a SCU Master’s degree.
Certified Specialist Managers 2016
Congratulations to our newly Certified Specialist
Managers who have been awarded this month:
Mr Simon J Skerritt, Certified Specialist
Manager (Coaching and Project Management)
FIMS and Mr Ho Ying Kit, Dannies, Certified
Specialist Manager (Supply Chain Management)
FIMS.
Institutes Directory
The Institute of Management Specialists is now
listed in the Institutes Directory United Kingdom
of the University Directory (UD)
(http://www.university-directory.eu), together
with our courses, the Executive Diploma in
Business Leadership and Management,
Professional Diploma in Project Management
Development and the Diploma of Management.
http://www.university-directory.eu/United-
Kingdom/The-Institute-of-Management-
Specialists-IMS.html
The University Directory is an international
online information system available to and
involving academic institutions, allowing
academics worldwide the opportunity to seek out
Higher Education institutions and their courses or
job offers in a simple and direct way. Currently
the UD lists more than 50,000 academic
institutions (universities, institutes, colleges, etc.),
about 250,000 job offers and about 550,000
subjects, courses, programs and degrees.
Approximately 25,000 academics visit the UD
daily, viewing circa 100,000 pages. Since the
beginning of the 2011 interested parties have had
the opportunity to research courses, degrees,
programs and job vacancies at the UD if the
institution has published the relevant details.
IMS Associate Diploma Graduation
On Tuesday 27th
October 2015 the St
Clements Institute
third year Bachelor
of Management of
Banking and Finance
were presented with their Institute of
Management Specialists Associate Diploma of
Management. The curriculum for the IMS
Associate Diploma of Management was
incorporated into the second year of studies of the
St Clements degree program. Chancellor of St
Clements Institute H.E. Dr Noun Samphea
chaired the ceremony and the President of SCI,
Dr David Le Cornu, gave out the awards on our
behalf to the eighteen qualifying students.
New Reciprocal Membership Arrangements
Since the previous issue of our E-Journal, we
have established reciprocal membership
arrangements with the following professional
bodies:
August 2015: Institute of Public Sector
Management (IPSM) www.ipsm.co.uk
The IPSM is a long established UK Institute
where at least two years of public sector
management experience is needed.
October 2015: Chartered Institute of
Management Specialist (CIMS)
www.cimsglobal.org.uk United States of America
6. 4
October 2015: Audit Managers Association of
Nigeria (AMAN) www.auditmgrs.com
Members must also be a Specialised Financial
Manager.
November 2015: Chartered Institute of Sales
and Marketing (CISAM) www.cisam.co.uk
Members will need to demonstrate a minimum of
two years’ experience in this area of
specialisation.
Professional Business Accountants’ Society of
Canada
Designated PBAs are welcomed into IMS
membership at a grade suitable for their
qualifications and experience and qualify for the
IMS Specialised Manager Award in Finance.
www.pba-canada.org You can visit this link to
watch the PBA promotional video:
http://www.worldcertification.org/wci-accredits-
pba-membership-for-world-credential-awards/
New Course
In August 2015, the IMS developed a new
course, Professional Diploma in Project
Management Development, with Horn Training
Group (Pty) Limited, South Africa. Candidates
will master the fundamentals of project
management and in the process gain insights into
the fundamental areas of global project
management. Please contact the IMS
Administration for details.
The Institute of Management Specialists
Professional Diploma in Project Management Development
Students will master the fundamentals of project management and in the process gain insights
into the fundamental areas of global project management. The course materials are extensive
and detailed, yet user friendly and solution focused. Qualified Tutors and Mentors are
available on a daily basis to assist students with their study programs, time management, study
skills, motivation techniques, and other areas that are important to academic success.
Subjects
Fundamentals of Project Management Successful Project Management
Ethics and Project Management Project Estimating and Cost Management
Project Management Roles & Responsibilities Managing Difficult Projects
Strategic Planning for Project Managers Modern Project Management
Project Risk Management Project Management Professional
Contact: info@instituteofmanagementspecialists.org.uk
Details: http://www.instituteofmanagementspecialists.org.uk/PDPDM.html
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7. 6
Motivation
by
Dr T J O’Mahoney FIMS, FIManf, FFPBTM
Yeah! That again! But it is important. It’s been
around since life began in more or less
complicated forms. When Alexander the Great
conquered most of the known world east to India,
or when Hannibal drove men and elephants
through strange land and unfamiliar ice and snow
to attack Rome via the Alps there was motivation
galore!
It’s a carpet-bag term covering a wide range of
situations and manifestations. That’s because it is
“psychological” – something which pushes/urges/
drives you to do something. It’s not a physical
pushing and shoving – that’s force. It’s the urge/
want/need (psychological) which pushes you to
do something to get what you want/need/desire/
wish for – or to avoid/get away from something
painful/threatening/unpleasant etc.
All creatures have “built-in” needs which drive
behaviours – survival needs for air/water/
food/physical safety etc. and these are powerful
motivators. Human beings have them, of course,
and they have been used, crudely, for millennia
as a way to “motivate” others.
The threat of, or actual, beating, torture, death,
deprivation of basic needs, or the promise of
relief from such, of food, comfort, freedom from
such risks – all versions of the carrot (reward) or
stick (punishment) approach to motivating others.
It has been used in interpersonal, social, political
and religious situations for centuries.
But increased study of human wants and needs
(psychology) has exposed clusters of inter-
relating “drives” and brought into being much
more subtle ways of motivating people.
Machiavelli’s “Prince” was an early exponent of
subtle and devious manipulation of people. Vance
Packard’s book “The Hidden Persuaders” (in the
1950s) exposed the many ways in which people
are persuaded/manipulated/motivated to buy
things/do things without being aware of such
influences. It has become an industry!
There are “miles” of theories, methods, models
etc. about “motivation” and needs etc. but since
I’m talking to Managers, I want to focus on
motivating others. In this situation, the best,
simple general definition is: “Motivating others is
the art/craft/skill of getting other people to do
what you want them to do, for their reasons.”
Think about it! It’s not earth-shattering, but it’s
not as widely appreciated as it should be!
Obviously, as Managers, you have a number of
ways to “force” people to do what you want (if
they are reluctant), but most of those are crude
and negative.
You can also “buy” their compliance – which is
perhaps more positive. But, if they really don’t
want to do what you are asking of them, either
approach can be short-lived and lead to future
negativism and more resistance.
The key to successful motivation of others is the
phrase “for their reasons”.
Obviously, if they already have reasons for
wanting to do something, there’s not really a
motivation problem – just guidance and control.
It’s when they don’t want to do something that
motivating is required and it’s here that knowing
people, particularly your people, is important.
You are going to have to figure out why they are
resisting. Fears, anxieties, conflicting wants/
needs/loyalties and time demands are common.
There can also be hostilities – towards you, the
company, the ideas involved, other people,
principles and values etc.
Fears of exposure of ignorance, lack of skills,
embarrassment, loss of face, belittlement –
especially fear of failure are all powerful blocks –
especially if risk to job security, status or pay are
involved.
8. 7
Interpersonal, social factors may be at work –
being ridiculed, shunned by workmates as being
the “boss’ pet” or acting against the “group’s”
interest can be powerful deterrents.
Non-work factors might apply. Are you asking
for something which clashes with strongly-held
beliefs, ideals or principles? Will it demand time
away from highly-valued family life or social or
hobby activities? All of which could be important
to the all-round psychological well-being of the
individual.
If you know your people well, you might already
“know” the underlying reasons for a person’s
reluctance to do what you want of them. And yet
you might still try to bulldoze them into it. You
might be in a hurry, or not think it important
enough as a reason to resist, or… whatever.
But, if you really want commitment, application,
enthusiasm etc., then you must deal with the
blocks. And do it in such a way that the person
will come to see “good”, valid, personal reasons
why they should cooperate.
They have to see how, in some way or other,
there will be “benefits” in it for them. And I do
not mean the “benefits” of avoiding some
“punishment”. It means something they want or
would like to have. These can range from greater
safety or security to higher status; greater
knowledge and skills to interest and satisfaction;
a better work environment; more personal control
of their job; greater self-confidence; prestige;
responsibility; respect.
If you can get people to see “what’s in it for
them”, much resistance will dissolve.
But doing this needs some subtlety! It’s no good
being “bossy” or patronising and telling them
what they’re supposed to get out of it. First off –
you may have got it all wrong and are telling
them they “want” things that have no interest for
them. Second, many people will bridle and resent
being told – even if correctly. Third, it’s always
better and more powerful if it comes from them!
(Their ideas are always better!!)
So, it’s a question of “bringing them in” – talking
and listening. Present the facts, what’s needed,
give and invite ideas. Where possible show your
knowledge of and respect for any interests,
knowledge or skills they have which might be
relevant and useful. Invite ideas and suggestions.
Use the old salesman’s mnemonic:
AIDA – get Attention, rouse Interest, stimulate
Desire, and prompt Action.
Don’t rush it! And listen, ask and encourage. It
may take time, more than one session. They may
need to ponder, let things sink in, chat together.
Let them come back and ask questions. And,
once you get some positive movement don’t
bulldoze! If it’s to be their idea, let them develop
it – ask, prompt – even if you already know the
answers – they need to come up with them. Once
they are going where you want – support,
encourage and protect where needed.
All this will demand your best people-handling
skills. If you haven’t got them you’ve got
problems anyway!
It will also take time, thought and planning – so
don’t leave it until it is a crisis!
Insight and patience are valuable people-
management commodities. Ultimately, unless
you are a manager of nothing but machines or
paperwork, then your success depends on getting
things done through others.
So, getting others to do what you want for their
reasons – MOTIVATING – is a vital part of your
job.
9. 8
University of Kilmurry
Professor Dr Abe Abrahami, Dean and CEO
Telephone: 0741 26 35 455 – London, England, Skype name: Abe-Abelson
Website: http://www.kilmurryuniversity.online/
Email: Abe@Kilmurryuniversity.online
Dear Friend
We are very pleased and excited to welcome you to our new website of the University of Kilmurry (UK).
UK offers you Master and Doctorate degrees – recognized and approved by The Institute of Management
Specialists, which is listed in the British Qualifications Guidebook.
You will learn with us what they do not teach in Oxford, Cambridge, Harvard, Yale, Princeton and other leading
universities.
This is your once in a lifetime opportunity to obtain an approved and recognised Master of Philosophy (M.Phil), or
Master of Art (MA) or Dr of Philosophy (D.Phil) degree from the comfort of your home, by independent research-
study, guided by your personal professor.
You must possess a basic under-graduate qualification and/or several years’ experience to be accepted to our
unique MA or D.Phil programme.
After your application has been considered and approved, free of charge, without admin fee, we will contact you to
tell you if you are accepted.
Please go to our website for more information.
We look forward to welcome you as one of our precious clients.
UK is looking for new faculty members. Please email us your details, CV and photo and note: Faculty Member.
About the Author: Dr Terry O’Mahoney is a Life Fellow of The Institute of Management Specialists,
The Institute of Manufacturing and the Faculty of Professional Business and Technical Management. He
was previously Education Adviser to the Examinations and Education Board when Professor Dr Manners
was President of these three bodies. He was also an examiner for the National Examining Board in
Supervisory Management (NEBSM).
After 30 years of teaching, training, coaching and developing managers and supervisors – always working
on problem-solving, creativity, self-confidence etc. Dr O’Mahoney, now retired, still wants to stress the
benefits and importance of such abilities to people in these roles and has therefore written for us again in
order to pass on some of his valuable knowledge and experience. Technologies, language, jargon and
“fashions” may change he says, but the fundamental importance of these (literally) survival skills, in any
sphere of endeavour, does not go away, no matter by what names they are currently called.
Dr O’Mahoney holds a PhD in Psychology and is an Associate of the British Psychological Society. He
was at Harvard University for four years, where he finished his PhD. When he returned to the UK from
the USA he worked for a year at the National Institute of Industrial Psychology followed by a year at
Liverpool University, Department of Engineering, studying creativity with the engineering students. After
this, Dr O’Mahoney set up a freelance Management Consultancy business and worked for ten years
travelling in the UK, Northern Ireland, Europe, North America and the Middle East advising companies
such as Rolls Royce Engineering. He helped to introduce Quality Circles to Metal Box Company and
Perkins Diesels.
10. 8
Specialised Manager Award
The following Institute of Management Specialists members have recently been granted
the Specialised Manager Award in their specialised management field:
Mr Alaa Atef Abbas Abdelaal FIMS Specialised Petroleum Manager
Mr Alaa holds a Doctor of Philosophy PhD, Major in Petroleum
Geology. He is a Doctoral Fellow of the Institute of Professional
Financial Managers (IPFM) and The Academy of Multi-Skills
(AMS) and holds an AMS Professional Certificate as Chartered
Petroleum Geological Engineer. He also holds Fellowship of The
Institute of Manufacturing.
Mr Eric Goh Ming Hui FIMS Specialised Information Technology Manager
Eric Goh is a researcher and entrepreneur with over eight years of
experiences in multiple industries. Eric Goh’s varied career
includes data science research, intelligent system development, IT
project management, and adjunct lecturer. He is the manager of
Boozedesign, and has recently founded SVBook.
Eric Goh has been leading and managing his teams for various
industrial projects, including the advanced unstructured product
description classification system project which automates
Singapore Custom’s trade facilitation process. Eric holds a Masters
of Technology from the National University of Singapore, and a
joint Executive MBA from U21Global and IGNOU. He is a
certified PRINCE2 Practitioner and Big Data Science Analyst
(CBDSA).
Dr Lee Thean Chye FIMS Specialised Total Quality Manager
Lee Thean Chye earned his BSc in Business Administration
(Marketing option) with highest honour from the California State
University, MBA from the University of Strathclyde, and DBA
from the University of Newcastle, Australia. He is currently an
Assistant Professor of Entrepreneurship in the Faculty of Business
& Finance, University of Tunku Abdul Rahman, Malaysia. Prior to
joining the academia, Dr Lee worked in the corporate world for
over 30 years with YKK Zipper Malaysia, Tootal Thread Malacca,
and Scientex Industries, respectively. His research interest and
expertise in entrepreneurial marketing, strategic management and
knowledge management make him one of the most prominent
trainers, consultants, business coaches, and mentors promoting
entrepreneurial development and SME success in the ASEAN
region.
Prof Bright Chima Megbo FIMS Specialised Education Manager
Professor Bright Chima Megbo is currently Professor in Biological
Science and Director of Academic Planning at Federal University
Wukari, Nigeria. He holds a PhD degree in Biological Sciences and
Doctor of Education (EdD) degree in Educational Leadership and
Administration. He is a Chartered Biologist (CBiol) and Chartered
Scientist (CSci). In addition, he holds several professional
9
11. 8
qualifications in Management including FCMI and FInstLM. He
has held top academic positions such as Head of Department of
Biological Sciences, Dean of Faculty of Science, Director of
Research, and recently Deputy Vice-Chancellor for Academic
Affairs.
Mr Woo, King Kong Kelvin FIMS Specialised Insurance Manager
BSc (Hons), PGCHKL, MSc (Management), MIRM, ANZIIF
(Fellow) CIP, F.I.M.S.
Kelvin, an insurance veteran based in Hong Kong, is currently
appointed as the Head of Casualty – Asia (a.i.) of Assicurazioni
Generali. In addition to his focus on underwriting property and
casualty insurance products for corporate clients, he has vast
experience in reinsurance strategy, technical/portfolio management,
natural catastrophe management, ERM (Solvency II), strategic
planning, merger & acquisition, and claims. Moreover, he has
acquired deep knowledge in global insurance markets e.g. HK, UK,
Italy, Thailand, Vietnam, China, India, the Philippines, Malaysia
and Japan.
He graduated in Mathematics and obtained three postgraduate
degrees specialised in Hong Kong Law, Management and Insurance
& Risk Management. He is also elected as Fellow member of the
Australian & New Zealand Institute of Insurance and Finance and
The Institute of Management Specialists.
Mr Simon Julian Skerritt
Awarded Certified Specialist Manager (Coaching & Project Management) FIMS in January 2016
Mr Ho Ying Kit, Dannies
Awarded Certified Specialist Manager (Supply Chain Management) FIMS in January 2016
Specialisation Fields Available
Administration Agriculture Architecture
Civil Services Coaching Education
Energy and Power Engineering Environmental
Finance Governance, Risk and Compliance Health Care
Hospitality Human Resources Information Technology
Insurance Legal Local Government
Manufacturing Marketing Military Services
Mining Non Government Organisation Petroleum
Police Project Management Supply Chain Management
Total Quality Management Tourism Travel
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12. 8
NLP: What Leaders Should Know
by
Kohol Shadrach Iornem, MBA, B.Eng, MBAM, MIMS, FIMC, CMC
Introduction
Neuro Linguistic Programming
(NLP) suggests that effective
communication and rapport
building results in personal and
organizational success (Youell
R. and Youell C., 2013) by
using the language of the mind
(Carter, 2005). The concept
comprises philosophies, methodologies, tools and
techniques.
However, some authors disagree with the NLP
approach and cite evidence of exaggerated claims and
lack of rigorous research (Dowlen, 1996). For
example, research by Hogan (n.d.), shows that there is
no significant relationship between eye movement and
sensory representational thought access and, as such,
the results of the study did not support the eye
movement hypothesis in NLP. Others have debated
whether NLP is an Art or a Science (Owen-Moylan,
2010).
Notwithstanding the disagreements, similar models
have been developed but under different names (The
Best You TV, 2013). These models include Emotional
Intelligence (EI), – the concept was first identified in
the 1930s as “social intelligence” (Landy, 2005).
Daniel Coleman gave prominence to the idea in 1995
with his publication Emotional Intelligence: Why It
Can Matter More Than IQ. EI is about being more
aware of your impact on others and how you manage
your behaviour for optimal results (Bradberry and
Antonakis 2015). This component is similar in part to
NLP.
Nevertheless, the concept of NLP first emerged in the
1970s when Richard Bandler, a computer scientist and
John Grinder, a professor of linguistics at the
University of California in Santa Cruz, studied people
who excelled at what they did. The emphasis was on
an individual’s ability to communicate and influence
(Youell R. and Youell C., 2013). Bandler and
Grinder’s goal was to develop models of how it was
that these people got the results they did. They sought
to identify and benchmark the behaviours that
produced these results and then to teach others to
emulate same (nlp-practitioners.com, n.d.). According
to Bandler and Grinder (1970), NLP refers to claimed
systematic, cybernetic links between a person’s
internal experience (neuro), their language (linguistic)
and their patterns of behaviour (programming) (cited
in Tosey and Mathison 2003).
Definitions
Let us consider a few definitions of NLP.
NLP is “an attitude that has to do with curiosity, with
wanting to know about things, wanting to be able to
influence things, and wanting to be able to influence
them in a way that’s worthwhile” (Richard Bandler
cited in Meehan, 2012).
NLP is “about self-discovery, exploring identity and
mission. It also provides a framework for
understanding and relating to the ‘spiritual’ part of
human experience that reaches beyond us as
individuals to our family, community and global
systems. NLP is not only about competence and
excellence, it is about wisdom and vision.” (Dilts,
2011)
According to the association for NLP (2013), “NLP
looks at the way in which we think and process our
thoughts (Neuro), the language patterns we use
(Linguistic) and our behaviours (Programming) and
how these interact to have a positive (or negative)
effect on us as individuals.”
“NLP is the practice of understanding how people
organise their thinking, feeling, language and
behaviour to produce the results they do.” (NLP
Academy, 2013)
Why is NLP Important for Leaders?
Leadership and empathy are often poles apart and
leaders regularly fail to understand that individuals are
unique and experience things differently. It is a
scientific fact that the more successful people are, the
harder it is for them to understand what others feel
and understand (Hauden, 2015). Studies suggest that
power diminishes empathy in the brain (Blanchard,
2013). Furthermore, power changes how the brain
operates in many ways (Benderev, 2013) and this re-
affirms Lord Acton’s quote – “power tends to corrupt
and absolute power corrupts absolutely”. However,
the good news is that Dacher Keltner, a social
psychologist at University of California says an
emerging field of study suggests powerful people can
be coached back to compassionateness (cited in
11
13. 12
Benderev, 2013). This “emerging field” may, in one
way or another, share a similar approach to the NLP
model.
Therefore, if leaders begin to understand that no two
persons are exactly the same, rather, they have
different thoughts, feelings and each have varying
responses to different situations, then they can begin
to understand/empathise how others feel.
With a working knowledge of NLP, leaders can be
more flexible in presenting their messages to appeal to
a wider audience. There are numerous examples of
where NLP has been useful for individuals and
organizations (Carter, 2005). Researched evidence
(Dowlen, 1996) suggests NLP is useful in
management development with respect to
communication vis-à-vis the techniques using
language patterns.
Examples
Let’s consider some examples.
Recently, the British House of Parliament wanted to
pass a vote for military air strike in ISIS controlled
areas in Syria. The Prime Minister, David Cameron,
had called the opposition Labour Party members who
were not in support of military action ‘Terrorist
Sympathisers’ and this generated lively debate and
concerns. David Cameron persistently refused to
apologise to his Labour Party critics. So, in this
situation, how does NLP come into play? Recall that
on 12 different occasions, the opposition members
requested that the PM apologise and his persistent
refusal made it difficult for the proposed debate to
make any headway at the time (ITV News, 2015). The
PM would have wanted a positive outcome (support
for military action) but his actions were inconsistent
with the results he wanted. One might wonder why
the PM found it so difficult to apologise. Would it
have meant weakness on his part, if he had done so?
Furthermore, lessons can be learned from past leaders
like Saddam Hussein and Gaddafi. If they had
pictured their respective ends, would they have ruled
differently? However, picturing the end vis-à-vis, the
worst case scenario applies in different spheres of life.
If people can forecast the outcomes of processed
information, would they change?
Summary
NLP is about bonding with people. NLP is about
giving people a better outlook in life. The concept is a
powerful change management tool that can transform
the way we think and act in order to have the greatest
impact both professionally and personally. It is about
how we use the language of our mind to achieve our
desires.
A basic knowledge of NLP (used with good
intentions), is a beneficial tool for leaders and their
organizations. Leaders seeking to learn how to win the
hearts and minds of the people, will, first of all,
empathise. This is because being attuned to other
people’s emotions and concerns is significant today in
a cross-cultural society that spills over into the global
corporate world. The interesting part of NLP is that
the process can help leaders picture (forecast) the end.
This they can do by taking in information and
processing it in a meaningful way so that the outcome
(verbal and/or non-verbal) will be positive.
NLP Training
Though NLP is a broad subject, some practitioners
have reservations when people acquire basic training
and end up trying to train others to become NLP
therapists. Whilst this is worrisome (Yemm, 2006),
some practitioners argue that one does not need to
undertake an expensive certification training to be
able use NLP methods, provided the skills are
comprehensively learned (Dowlen, 1996). The writer
however, thinks that transferring the basic knowledge
learned to help others achieve their desired objectives
is a welcome development. To learn the NLP
techniques in detail, the writer suggests leaders seek
training from certified NLP practitioners.
References
Benderev, C., (2013). When Power Goes To Your
Head, It May Shut Out Your Heart. [online] Available
at: http://www.npr.org/2013/08/10/210686255/a-
sense-of-power-can-do-a-number-on-your-brain
[Accessed 4 December 2015].
Blanchard, K., (2013). Power robs the brain of
empathy. [online] Available at:
http://www.digitaljournal.com/article/356229
[Accessed 4 December 2015].
Bradberry, T. and Antonakis, J., (2015). Is Emotional
Intelligence a Good Measure of Leadership Ability?
HRMagazine, 60(9), pp. 22-23.
14. 13
Carter, D., (2005). Neuro Linguistic Programming: a
personal perspective. Training Journal, pp. 16-19.
Dilts, R. B., (2011). What is NLP? [online] Available
at:
http://www.nlpu.com/NewDesign/NLPU_WhatIsNLP
.html [Accessed 6 December 2015].
Dowlen, A., 1996. NLP – help or hype? Investigating
the uses of neuro-linguistic programming in
management learning. Career Development
International, 1(1), pp. 27-34.
Haudan J., (2015). Why Leaders Lose Their Emotions.
[online] Available at:
https://www.linkedin.com/pulse/why-leaders-lose-
emotions-jim-haudan [Accessed 4 December 2015].
Hogan (no date). NLP Eye Accessing Cues:
Uncovering the Myth. [online] Available at:
http://www.kevinhogan.com/NLPeyeaccess.htm
[Accessed 4 December 2015].
ITV News. (2015). Syria Vote: David Cameron
refuses to apologise for “terrorist sympathisers”
remarks. [video online] Available at:
https://www.youtube.com/watch?v=A5RmcmPkFBc
[Accessed 4 December 2015].
Landy, F. J., (2005). Some historical and scientific
issues related to research on emotional intelligence.
Journal of Organizational Behavior, 26(4), pp. 411-
411+.
Meehan, T. (2012). What Is Neuro-Linguistic
Programming (NLP)? [online] Available at:
http://ezinearticles.com/?What-Is-Neuro-Linguistic-
Programming-(NLP)?&id=7088774 [Accessed 6 May
2013].
NLP Academy (2013). What is NLP? [online]
Available at:
http://www.nlpacademy.co.uk/what_is_nlp/
[Accessed 6 May 2013].
NLP-Practictioners.com (n.d.). So what is NLP? How
did it start? [online] Available at: www.nlp-
practitioners.com/what-is-nlp/ [Accessed 6 May
2013].
Owen-Moylan, S. (2010). Is NLP an art or a science?
The debate continues… [online] Available at:
http://www.jsnlp.co.uk/nlp-art-science-debate-
continues/ [Accessed 4 December 2015].
The Association for NLP (2013). Presuppositions of
NLP. [online] Available at:
http://www.anlp.org/presuppositions-of-nlp [Accessed
7 May 2013].
The Best You TV. (2013). Neuro Linguistic
Programming Why its the Best Self Improvement
Technique? By Richard Bandler. [video online]
Available at:
https://www.youtube.com/watch?v=EBopF3HyaCU
[Accessed 4 December 2015].
Tosey, P., and Mathison, J., (2003). Neuro-linguistic
programming: its potential for learning and teaching
in formal education. [online] Available at:
http://www.leeds.ac.uk/educol/documents/00003319.h
tm [Accessed 4 December 2015].
Yemm, G., 2006. Can NLP help or harm your
business? Management Services, 50(2), pp. 43-45.
Youell, R. and Youell C (2013). Effective NLP Skills.
2nd ed. London: Kogan Page Limited. p10. [online]
Available at:
http://books.google.co.uk/books?id=eRGaYxOlLdMC
&printsec=frontcover&dq=Effective+NLP+Skills&hl
=en&sa=X&ei=ddCIUaelCIb20gXcjoH4DQ&redir_e
sc=y#v=onepage&q=Effective%20NLP%20Skills&f=
false [Accessed 7 May 2013].
About the Author: Shadrach Kohol Iornem is the Director of Programmes at London Graduate School.
He specializes in organizational development and learning for professional people and their
organizations. He provides guidance, advice and facilitation in all aspects of organization development,
from strategy formulation to change management. He has many years of experience in helping
managers in professional services organizations get the best from their people.
Shadrach is an MBA graduate of University of Wales Institute Cardiff, UK. He holds Postgraduate
Diplomas in Management Studies from Albion College and London School of Commerce. He obtained
his Bachelor’s degree in Metallurgical Engineering from Ahmadu Bello University Zaria-Nigeria. He is
currently a doctoral candidate at Cardiff Metropolitan University.
15. 14
Networking on LinkedIn
IMS is encouraging all members to
Join LinkedIn
Over the past decade, LinkedIn has become an essential personal branding tool. With millions
of members, LinkedIn is the world’s largest professional network and having a profile on the
site has now become expected of all professionals. The majority of LinkedIn users have the
free account with only a small percentage paying for the premium service.
When someone “Googles” you, your LinkedIn profile will show up at the top of the results –
people use all kinds of ways to research you and LinkedIn gives you an opportunity to control
what they discover about your strengths and about your brand – you put your relevant career
information on your LinkedIn profile and that means you control what others see about you –
your prospects, employees, manager, clients, competitors – you can give a good first
impression online.
LinkedIn has many valuable resources and helps you expand your success by offering crucial
connections and expertise. You can stay abreast of what is happening within your industry or
profession by following thought‐leaders and companies. You can join Groups that are relevant
to your career and interests and gain added opportunities to post your thoughts and comment
on others’ posts.
So benefit yourself by joining LinkedIn if you have not done so already, and help the IMS to
increase its following and exposure on this professional forum. Network with other members
and professionals, take part in discussions within groups, promote yourself and your interests.
The Institute of Management Specialists has a Group on LinkedIn that is reserved for members
of IMS only – please follow the appropriate link below and send us a request to join it; we also
have a Company Page, which please visit and ‘Follow’.
IMS Members Group IMS Company Page
16. 14
Avoid the Funeral of a Living Cult: And Celebrate the
Joys in the Turbulent Year
by
Prof. Samuel Lartey
sammylaatey@yahoo.com
Money doesn’t solve the
problems of life; you can
lose it, be sued for it, or it
can be stolen. What’s
important is what you
become, even in the face
of turbulence. What you
become directly influences
what you get. Become a
million dollar person or
business and with that great philosophy even if
you lose money, you have the attitude to earn it
again. Any business can become a great business;
all it takes is mastering the art of influence.
Contemporary businesses make a difference
through collaboration.
“When the sea is calm everyone is a great sailor.
It is when the turbulence comes that we see the
difference.” In the face of turbulence just
remember that life is short. You can’t choose how
long you will live, but you can choose how well
you will live. Live a life that will help others
spiritually, intellectually, physically, financially
and relationally. Live a life that serves as an
example of what an exceptional life can look like.
The path we walk has been prepared for us by
others who have gone before us. So live your
business life in such a way that it will serve those
who come after you. Blaze a business trail that
will allow others to move forward in their lives
faster than if they had to blaze the trail
themselves. They will look for your business
even in times of difficulty.
Handle the challenge of turbulence well today, no
matter how hard it may appear, and you can
prosper greatly. Handle it poorly, and your
business and others will be at risk. All too often
people and organizations don’t see the need for
turbulence. They don’t correctly identify what to
do, or how to successfully make things change.
Employees of large corporates don’t. Employers
don’t. Businesses don’t. School systems don’t.
Nations don’t. Smart people sometimes fall into
the traps.
In the face of turbulence, one can achieve only to
the level where one is. Success comes when you
develop yourself and your business beyond where
you currently are. As business executives and
managers, read books, attend seminars and
speaking sessions, study the best people and
implement and integrate what you’ve learned.
Beware of the word “insanity” – doing the same
thing over and over again and expecting different
results. To get different results, you’ve got to
change what you’re doing. The only way things
are going to change for you is when you change.
When there is no power/light go out of the office
and look for new networks. Can you arrange and
meet your new contacts in a nearby hotel? Return
to the office when there is light and get things
done. Otherwise all is turbulence.
Starting, running and building your own business
or holding and leading large businesses definitely
comes with its turbulence, and as with many
things in life, we have to take the good with the
bad. It’s not always smooth sailing when it comes
to business, but it’s important for you as the
business owner to do whatever you can to push
forwards and stay positive. Remaining motivated
during tough times can be difficult, but it’s not
impossible.
When your business, be it small, medium or
large, is going through a rough patch, it helps to
know that you’re not the first person to
experience it, and you most certainly won’t be the
last. Whilst you may be the captain of the team,
you’re only going to make things harder for
yourself if you choose to carry the burden alone.
There’s no shame in reaching out and asking for
help from those who have been in the same
position as you in the past. Sharing your troubles
15
17. 16
and talking about them will not only help you feel
lighter, but more importantly make others aware
of what you’re going through. In doing so, the
right people will hopefully be able to provide
some valuable advice that just may help you get
your business out of a rut.
Look again at your relationships in turbulent
times. Rudolph Giuliani said, “Weddings are
discretionary but funerals are mandatory.” He
explained it to mean that your relationships will
need you the most in times of turbulence and
would not mind your absence in times of joys. In
difficult times, your relationships represent the
“most beautiful highs” and the “most tormented
lows” of life. Relationships are the backbone of
our existence. Relationships are like a garden,
you have to cultivate them. Once you get them up
and running, the maintenance to keep them
growing is much easier. “Time, effort, and
imagination must be summoned constantly to
keep any relationship flourishing and growing.”
People say that money makes the world go
around, but I believe relationships are what make
the world go around because things get done
through people.
It’s very easy to get swallowed up by negativity,
especially when you spend so much time at the
centre of your business, close to all the action.
Why not take a step back so that you’re able to
look at the bigger picture? Very often you
become fixated on the small things and this
stops you from seeing things as a whole –
something that can be very detrimental when it
comes to trying to move forward. In some cases,
without seeing the bigger picture, it’s more
difficult to spot the areas of your business that
require special attention. Being able to identify
those problem areas is the first step in improving
the situation and distance allows you to do this.
It helps you to focus, and zoom in on the
problem and tackle it as effectively as possible.
Learn to forgive yourself, forgive your boss,
forgive your peers and forgive your
subordinates. Anything apart from these causes
turbulence. Failure is not a single, disastrous
event. We do not fail overnight. Failure is the
inevitable result of an accumulation of poor
thinking and poor choices. Jim Rohn put it more
simply, as “Failure is nothing more than a few
errors in judgment repeated every day.” Now
why would someone make an error in judgment
and then be so foolish as to repeat it every day?
It happens – I call it celebrating the funeral of a
living cult. Let’s avoid it!
A burnt out, over-worked and super stressed
organization or business owner or employee or
stakeholder is the last thing a business needs,
especially when it’s going through a difficult
period. At the best of times it’s vital that you take
time away from the office to unwind and
recharge, and this is even more important during
turbulent times. Taking a little time off and
spending time with those close to you very often
helps you not only to up those energy levels, but
also to gain a fresh perspective on things.
Sometimes all you need is to take some time
away so that you can return with a clearer head, a
stronger fighting spirit and a better way of
dealing with the obstacles in your business’s
pathway.
Part of running a successful business is having
adaptability – simply because business is
constantly evolving. Once you’ve identified the
area(s) within your business that needs work, it
won’t help to turn a blind eye and hope they’ll
come right. Positive action must be taken and the
necessary changes made so that the business can
get back on track as soon as possible.
Find the problem, identify its source and do what
you can to rectify it – if something isn’t working,
change it. Change may be scary but the reality is
that it’s necessary in the ever-changing world of
business.
It’s no use dwelling on your mistakes. What’s
done is done and now all you can do is learn from
it. Rather choose to focus on the positives within
the business and to put your energy into finding
the solutions that will help you move past this
rough patch. It’s far more beneficial to focus on
what you have and how those aspects can take
you forward. This doesn’t mean ignore the
turbulent areas though – it just means don’t allow
them to take over.
18. 16
Every business experiences its good times and its
bad along the way, but what counts is how you,
as the business managers and leaders, cope
during the hard times. The old adage goes that
“tough times don’t last, but tough people do”, and
this is something that every entrepreneur should
hold on to. Finding ways to stay motivated and
positive during the turbulent periods is surely the
mark of truly great businesses. My mentor and
teacher, Rene Carayol said, “If you are tough you
might fail but if you are not tough you will fail.”
As we start the year 2016, let me say again that
let’s rise above the challenging turbulence and
avoid the funeral of a living cult.
About the Author: Prof. Samuel Lartey is a business philosopher. He is an expert in Financial Information
and Computer Management Systems. Samuel is familiar with multi-million country-wide financial
projects. He is a Motivational Speaker and a Teacher. He holds a Doctor of Letters (D.Litt.) in Financial
Information and Computer Management Systems, a PhD in Financial Management, an MBA in
Management Information Systems, and a B.A. in Social Science.
You can contact him on sammylaatey@gmail.com or on samuell@carayoluc.edu.gh for mentoring and
speaking engagements.
We have a reciprocal agreement with The Institute of Management Specialists (IMS),
whose members can join us on the following basis without the need to complete an
application form:
Associate/Full Members join as Associates (TCISM) GBP 75
Fellows join as Fellows (FCISM) GBP 85
Payments should be made via Dr Lynne Sykes at the IMS
The Chartered Institute of Sales and Marketing is registered as a
Limited Liability Company in the USA www.cisam.co.uk
17
19. 18
Bank of America Gets Away with Massive Fraud, Racketeering
and Money Laundering
by
Professor Dr Rabbi Abe Abrahami, DFAMS, CompIMS, Bluewater Academic Institute
Based on an Article by Andrew Gavin Marshall, July 18, 2013
Introduction
During the first year of the global financial crisis,
which the big banks helped to create and which
they profited enormously from, the government
stepped in to bail out Bank of America. They
rewarded the Bank $20 billion for its massive
financial crimes, as well as a special guarantee
for nearly $100 billion of potential losses on the
balance sheets of Merrill Lynch, which Bank of
America acquired during the crisis.
As it turns out, Bank of America and other big
banks continue to get “backdoor bailouts”
through the Federal Reserve Bank of New York,
which acts as a legal guarantor and protector of
the Wall Street chain gang of criminal
conglomerates. The Bank was recently added to a
list, compiled by a corporate watchdog group, of
the “dirty dozen” criminal financial institutions
for its role deceiving investors, committing
mortgage and foreclosure abuses and engaging in
municipal bond rigging and illegal payments.
Till the End of Time
When Matt Taibbi wrote in Rolling Stone that
Bank of America was “a hypergluttonous ward of
the state whose limitless fraud and criminal
conspiracies we’ll all be paying for until the end
of time”, he wasn’t exaggerating. The Bank
foreclosed on tens of thousands of Americans
through a “mass perjury” scheme and pushed
worthless mortgages on pension funds and
unions. As several big banks – including BofA,
JPMorgan, Wells Fargo and Citigroup – agreed to
pay a $25 billion settlement with the government
over “abusive mortgage practices,” the
Department of Justice granted the banks what
amounted to legal immunity “from civil
government claims over faulty foreclosures”. In
January, Bank of America settled to pay $11.6
billion to the government-controlled mortgage
company Fannie Mae in response to a legal battle
over “bad loans”.
Lies and More Lies
In June of 2013, six former BofA employees and
one contractor issued sworn statements in which
they accused the Bank of lying to homeowners,
fraudulently denying loan modifications and
paying bonuses to staff who pushed people into
foreclosure. One of the whistleblowers
commented, “We were told to lie to customers.”
Employees that pushed ten or more homeowners
per month into foreclosure would receive a $500
bonus, and the Bank also “gave employees gift
cards to retail stores like Target or Bed Bath and
Beyond as rewards for placing accounts into
foreclosure”.
Question of Ethics
Further, anyone who “questioned the ethics” of
the Bank’s practices was summarily fired – a
policy that led to a lawsuit in which
homeowners accused the Bank of racketeering
“to defraud homeowners who sought
modifications and then acted as the kingpin of
that [racketeering] enterprise”.
Of course, it doesn’t end there. Bank of America,
along with multiple other big banks, has
been accused of laundering money for Mexican
drug cartels. The FBI confirmed that BofA was
involved in laundering drug money for the Los
Zetas drug cartel in Mexico. However, in a twist
of fine news for the Bank, U.S. government
regulators indicated they would not hold the bank
responsible for its actions.
Untouchable Influence
So how does a massive criminal enterprise
engaging in large-scale fraud, racketeering and
money laundering get a free pass from the U.S.
Government? The Bank’s financial clout in the
economy certainly plays a part. The Bank also
has affiliations with dominant national and
international organizations, thus institutionalizing
20. 19
the Bank within the larger global power
structures and the elites who run them.
Research conducted for the Global Power Project
found 28 individuals at Bank of America,
including executives and members of board of
directors, with institutional affiliations. Four of
the individuals who hold leadership positions at
BofA are also affiliated with the major foreign-
policy think tank in the United States: the
Council on Foreign Relations. Three individuals
are connected to Morgan Stanley, another major
financial institution, while two affiliations exist
with the World Business Council for Sustainable
Development (promoting big business
“solutions” to environmental crises), the Business
Council, Catalyst, Duke University, Stanford
University, and BlackRock (the largest Asset
Management firm).
The following institutions each also hold one
individual affiliated with Bank of America: Royal
Dutch Shell, DuPont, Deere & Company, the
World Wildlife Fund, the President’s Export
Council, Harvard, the World Economic Forum,
Brookings Institution, Sara Lee Corporation,
Monsanto, CBS Corporation, BAE Systems,
General Dynamics, Walt Disney Company,
President Obama’s Council on Jobs and
Competitiveness, the Rockefeller Foundation,
Business Roundtable, Financial Services Forum,
PepsiCo, Carlyle Group, Booz Allen Hamilton,
Goldman Sachs, the International Advisory Panel
of the Monetary Authority of Singapore and the
International Advisory Board of the National
Bank of Kuwait.
Summary and Conclusion
BofA and its cahoots continue to operate globally
moving funds and extorting at will, much more
powerful than national governments, and they get
away with it. Blackmail and fear of the unknown
in case they are brought to justice and collapse,
sending shock waves around the globe is perhaps
too much to contemplate and deal with in the
aftermath. This might explain the lack of appetite
to prosecute banksters big time and make do with
multi billion dollars fine, which certainly fail to
deter. It’s not just more compliance rules that are
required, which banksters frequently ignore. We
need a massive culture change and a great deal of
education, from school through universities to
convince young people before they become
employed in the financial industry that financial
crimes bring us all down, sooner or later.
The views expressed are those of the author and must not be construed to be those of The Institute of Management Specialists.
About the Author: Professor Dr Abrahami delivers accredited-certified training courses in Solvency II,
Sarbanes Oxley, MiFID, IFRS, HIPAA, GLBA, FATCA, Fraud Act, Dodd–Frank Act, Basel III,
Bribery Act, Governance, Risk & Compliance (GRC), Anti-Money Laundering and similar topics.
These accredited-certified professional training courses, lead to a recognized qualification and
membership of the Institute of Management Specialists (IMS).
These professional training courses are a MUST, and will help you to avoid multi-million dollar
penalties, avoid prison and losing your job and livelihood.
Professor Dr Abrahami is Dean of Cambridge Institute of Technology (www.cambridgeinstitute.online)
and University of Kilmurry (www.kilmurryuniversity.online)
Contact Dr Abrahami on: star@abrahami.co.uk
IMS-UK in Sri Lanka
IMS Sri Lanka Chapter wishes to invite any interested people to get in contact with the Authorized Chapter
Promotion Officer in Sri Lanka at the start of their 2016 membership recruitment drive.
IMS-UK Sri Lanka Chapter Promotion Office:
Jayantha Dharmaratne, No. 502/15, Halbarawa Gardens, Thalahena, Malabe, Sri Lanka
Tel/Fax: 011 2791224 Mobile: 0775580389 / 0718161188
Email: srilanka@instituteofmanagementspecialists.org.uk Or peacestars@hotmail.com
22. 20
The Main Management Skills of a Security Manager and their Importance
by
Andreas Nickolaos Akratas, B.Sc. (Hons), M.A., F.I.M.S, F.I.Manf., F.F.P.B.T.M., F.I.P.F.M.,
F.C.A.M.
The aim of this paper is to
identify the main management
skills required of a Security
Manager and explain their
importance. These skills stem
from the duties of this job
position. More precisely,
Bamfield (2006, p. 485)
argues that the tasks of a
Security Manager include “running a department
with staff (possibly at several different sites);
planning future outcomes; budgeting controlling
outcomes and monitoring performance;
interacting with other departments and corporate
senior executives; making department policy; and
working with other people and organisations
outside the corporation such as the police,
prosecution services, and other security officers”.
It can be argued that the management skills
required from a Security Manager fall into the
following categories: knowledge of regulations
and legislations, communication, negotiation and
conflict resolution skills, leadership skills, and
the ability to practice upon a code of ethics.
The Security Manager is responsible for securing
the assets of an organisation and providing a
secure environment for both the staff and the
clients of the company (Bamfield, 2006, p. 489).
This includes security from natural disasters,
theft, employee theft, fraud, and terrorist attacks
(Fay, 1993, p. 258; Vellani, 2010, p. 5).
Moreover, the Security Manager should ensure
the health and safety functions in the company
(Button, 2009, p. 39). Given these requirements,
the Security Manager should have knowledge and
skills of implementing criminal law, employee
law, the regulations of the company, as well as
the national and international legislation
regarding not only safety, but also the safety and
health of the employees. Finally, knowledge and
skills are essential regarding the implementation
of business law, as well as of accounting and
personnel practices (Canton, 2003, p. 33).
Organisational communication is an active
process included in the administrative process,
which is crucial for managers of the firm
(Pettinger 2007, p. 389), within the framework of
the efficient implementation of the administrative
and organisational functions of the company
(Altınöz, 2009, p. 218). As it is characteristically
stated by Iosim et al. (2010, p. 126),
“communication becomes the harmonization
instrument in human resources, the manager’s
basic instrument in fulfilling functions and in
achieving the organisation’s objectives”. It
cannot be doubted that good communication
conveys information and knowledge, opinions,
norms, and values that strengthen the company
and guarantee positive results, since it refers to a
large group of participants who are actively
engaged in the communication process. These
justify the fact that a Security Manager should
have strong communication skills.
However, the most important advantage of
communication is that it contributes to resolving
disputes and reducing the escalation of conflicts
(Adejimola, 2009, p. 1). As it is also stated “most
of the non-violent methods of conflict
management, such as collaboration, negotiation,
and dialogue, as well as third party interventions
like mediation, conciliation, arbitration, and
adjudication, are largely dependent on effective
communication” (Adejimola, 2009, p. 3).
The conflicts in a company may arise due to lack
of trust, the existence of a gap in the
communication process, conflicts of interest,
severe competition, or any other factors
stemming from the individual’s personality
characteristics (Gupta and Sasidhar, 2010, p.
183), which comprise the different cultural
characteristics of the personnel in a company
(Hudson et al., 2005). As a result, the Security
Manager should be able to understand the sources
of potential conflict and solve these conflicts
raised within a corporation, given the negative
impact of conflicts. Through the effective conflict
21
23. 22
resolutions, the Security Manager can either
prevent or anticipate the dysfunctional outcomes
of these conflicts in the organisations, which
include the following: increased job stress, job
dissatisfaction and burnout, reduced
communication between the members of the
organisation, cultivation of a negative working
environment of distrust, less loyalty and
suspicion, reduced employee’s commitment,
reduced job performance and productivity, and
increased resistance to change (Rahim, 2001, p.
7).
Additionally, negotiation plays a crucial role in
the resolution of conflicts raised in a company.
The strategy of negotiation has many advantages
(The Society for Human Resource Management,
2005, p. 3). A successful negotiation leads
towards the establishment and the maintenance of
good long-term relationships between the
members of the firm. Furthermore, since people
within an organisation reach a desired outcome,
they are free to deal with other processes, actions
and responsibilities in their company, which
further enhances their productivity and the
company’s profitability. The result is the
acquisition of a competitive advantage on behalf
of the organisation.
In order for the negotiation processes in the
resolution of conflicts to be effective, it is
suggested that the two parties, including the
Security Manager: a) should have knowledge
about the relevant rules and the regulations, b)
should be informed about the current actions
and/or cases in other companies, and c) should be
well-versed and have knowledge about the
establishment’s collective agreement (Adejimola,
2009, p. 4). Last but not least, the study of Gupta
and Sasidhar (2010, p. 177) indicated that the
communication ability is the major factor that
influences positively or negatively the resolution
of conflicts within a firm.
The need for leadership skills derives from the
fact that the Security Manager should enhance
“the effectiveness of security personnel in terms
of the second (visibility of staff leading to
deflections of offenders) and first dimension
(compliance with staff requests)” (Button, 2009,
p. 68). The Security Manager should ensure
discipline and compliance; thus, leadership skills
are required. Moreover, leadership is essential in
order to give vision and direction, to energise and
to set standards of performance, behaviour and
attitude (Pettinger, 2007, p. 459).
Since leadership can be defined as “the effective
exercise of influence”, it can be argued that
leadership skills are essential for the Security
Manager in order to persuade the employees that
the achievement of the company’s goals and
objectives will satisfy their needs and goals. In
addition, employees feel better with a manager
who bases his/her actions on specific principles
and standards (Canton, 2003, p. 27).
Other leadership skills required from the Security
Manager concerning the duties of this job
position are the existence of a positive attitude in
terms of employee motivation, the management
of both time and schedules, the transferring of
knowledge to other co-workers, and the influence
of the employees to work towards the
achievement of the company’s goals and
objectives (Hollington, 1998, p. 152).
Leadership skills are related to the four primary
functions of management: control through the
establishment of goals and policies guiding the
organisation, planning as regards the
development of the strategy in order for its goals
to be achieved, organisation which identifies the
concept of authority and responsibility, and,
finally, direction associated with the coordination
of all the policies (Canton, 2003, p. 11).
Ethical ideology is an ethics system which is used
during the decision-making process, in order for
the right ethical decisions to be made, providing
ethical guidelines (Fernando et al., 2008).
Furthermore, Badaracco and Webb (1995, p. 8)
claim that the managers are based on a mix of
personal beliefs and training programs, so as to
set the necessary ethical standards in their firms,
which constitute the organisational ethics.
Organisational ethics can be regarded as the sum
of the practices and the policies of a company,
which defines what is ethically acceptable
24. 22
regarding the operation of the company. In other
words, organisational ethics is the behaviour of
the company that has its basis on right and fair
norms and not solely on accounting and
management principles (Monga, 2001).
Apart from the above, the code of ethics is
important in the security field, since it can convey
management’s intentions. Moreover, it offers the
employees a guidance to deal with situations for
which there are no specific written instructions. It
provides a measurement for the employees’
behaviours and actions (Canton, 2003, p. 13).
One more reason for which ethics is vital is
because the activities of security providers “have
potentially positive and negative consequences
for their clients, the local population in the area
of operation, the general security environment,
the enjoyment of human rights and the rule of
law” (ICOC, 2010, p. 1). Thus, the Security
Manager should have the skills and the ability to
implement the code of ethics in the practice field.
What should be mentioned is that a company can
either develop its own code of ethics or adopt an
existing one. For example, in the Security field,
there is the Code of Ethics of the American
Society for Industrial Security, the Code of the
International Association of Professional Security
Consultants (Canton, 2003, p. 13), and the
International Code of Conduct for Private
Security Service Providers (ICOC, 2010).
To sum up, the Security Manager should have
specific management skills and, more precisely,
knowledge and skills of adopting and
implementing laws and legislation, leadership
skills, communication, negotiation and conflict
resolution skills, as well as the ability to
implement a Security code of ethics. All these are
essential in order to ensure the safety of the
organisation’s assets, staff and clients, be able to
respond in any situation including emergency
situations, impose discipline, and influence the
employees so as to achieve the goals of the
company.
References
Adejimola, A. S., 2009. Language and
communication in conflict resolution. Journal of
Law and Conflict Resolution, 1(1), pp. 1-9.
Altınöz, M., 2009. An Overall Approach to the
Communication of Organizations in
Conventional and Virtual Offices. International
Journal of Human and Social Sciences, 4(3), pp.
218-224.
Badaracco, J. L., and Webb, A. P., 1995.
Business Ethics: A View From the Trenches.
California Management Review, 37(2), pp. 8-28.
Bamfield, J., 2006. ‘Management’ in Gill, M.
(Ed.), The Handbook of Security, pp. 485-508
Basingstoke: Palgrave Macmillan.
Button, M., 2009. Issues in Security
Management. University of Portsmouth.
Portsmouth: Institute of Criminal Justice Studies.
Canton, L. G., 2003. Guard Force. Burlington:
Butterworth-Heinemann.
Fay, J. J., 1993. Encyclopedia of Security
Management. Techniques and Technology.
Burlington: Butterworth-Heinemann.
Fernando, M., Dharmage, S., and Almeida, S.,
2008. Ethical ideologies of senior Australian
managers: an empirical study. Journal of
Business Ethics, 82(1), 2008, 145-155 [pdf].
Available at:
<http://ro.uow.edu.au/cgi/viewcontent.cgi?article
=1492&context=commpapers> [Accessed 26
June 2013].
Gupta, J. M., and Sasidhar, B., 2010. Managing
Conflicts in Organizations: A Communicative
Approach. AIMS International Journal of
Management, 4(3), pp. 177-190.
Hollington, K. C., 1998. ‘Human Relations’ in
Minion R. M. and Davies S. J., IFPO Protection
Officer Training Manual 152-160. Boston:
Butterworth-Heinemann.
Hudson, Grisham, T., Srinivasan, P., and Moussa,
N., 2005. Conflict Management, Negotiation, and
Effective Communication: Essential Skills for
Project Managers [pdf]. Available at:
<http://thomasgrisham.com/attachments/File/Con
flict_Management_AIPM_Australia.pdf>
[Accessed 26 June 2013].
23
25. 24
ICOC, 2010. ICOC. International Code of
Conduct for Private Security Service Providers
[pdf]. Available at: <www.icoc-psp.org>
[Accessed 26 June 2013].
Iosim, I., Iancu, T., Popescu, G., and Orboi, M.
D., 2010. The Impact of Informal
Communications in Organizations. Bulletin
UASVM Horticulture, 67(2), pp. 125-130.
Monga, M. 2001. Ethics and Ethical Ideologies:
An Empirical Study of Managers in North Indian
Large Manufacturing Enterprises [online].
Available at:
<http://citeseerx.ist.psu.edu/viewdoc/summary?d
oi=10.1.1.200.30> [Accessed 26 June 2013].
Pettinger, R., 2007. Introduction to Management.
Hampshire: Palgrave Macmillan.
Rahim, M. A., 2001. Managing Conflict in
Organizations. Westport, CT: Quorum Books.
The Society for Human Resource Management,
2005. The Essentials of Negotiation: Business
Literacy for HR Professionals. USA: Harvard
Business School Press.
Vellani, K. H., 2010. Crime Analysis for Problem
Solving Security Professionals in 25 Small Steps
[pdf]. Available at:
<http://www.popcenter.org/library/reading/pdfs/c
rimeanalysis25steps.pdf> [Accessed 26 June
2013].
About the Author: Andreas Nickolaos Akratas is a Senior Security Consultant from Athens, Greece. He
holds a B.Sc (Hons) degree in Criminology (Portsmouth) and a MA degree in Restorative Justice (Hull). He
also holds a Postgraduate Certificate in Security Management (Buckinghamshire New University) and the
Edexcel Professional Diplomas in Security Management and Private Investigation. Andreas is a Lifetime
Fellow Member of IMS, I.Manf, FPBTM, IPFM and CAM. E-mail: andreasakratas@gmail.com
Certified Specialist Manager
Criteria:
To have successfully met the IMS academic and experience grade standards to have been
awarded Full Member, Fellow or Companion status and have maintained current membership of
the Institute.
To have applied for and successfully obtained an IMS Specialised Manager Award(s).
To have successfully completed CPD for the previous calendar year and successfully
complete CPD annually thereafter.
To maintain high professional ethics in your working life and be working in the field of
your specialism.
Show yourself to be a Professional Specialist Manager
26. 25
Quest for Professionalism in Teaching in a University Setting:
Salient Issues for Reflection
by
Dr Oyat Christopher, CAM, DFPFM, DFEIFD, FBQS (Hon), FCE, FDTMS,
FIBR, FICP, Comp IMS, Pr.FIGA
Introduction
According to Mondo Kagonyera
(2009), professionalism is an
attribute which involves a
combination of both practical
and theoretical knowledge with
a component of ethical values.
In the context of the teaching
profession at various levels of
learning, including university education,
professionalism should be guarded on the basis of
a prescribed code of conduct in place. This
explains why it is becoming increasingly
important today that in the teaching profession,
individuals who are in the profession should be
chartered so that they are allowed to practice the
profession legally, legitimately and ethically.
A chartered professional refers to that person who
has gained a level of competence in a particular
field of work, and as such has been awarded a
formal credential by an organization in
recognition. It is considered a status of
professional competence; and the chartered status
is usually and mainly awarded by professional
bodies. Hayes Committee (1972) argues that
work done by the professional is usually
distinguished by its reference to a framework of
fundamental concepts which are linked with
experience rather than by impromptu reaction to
events and situations. This means that it is in
order for one to follow through the laid down
procedure governing the profession.
In the profession, it is imperative to appreciate a
high level of distinctive competence which
reflects the skilful application of specialized
education, training and experience. This should
be accompanied by a sense of responsibility and
an acceptance of recognized standards of
conduct.
Benchmarks for Identifying a Profession and
Conduct Expected
The skills should be based on theoretical
knowledge supported by competent provision
of training and education of persons;
A test of competence of members
administered by a professional body is
necessary;
A formal professional organization which has
the power to regulate entry to the profession
as well as exit of individuals should be in
place;
A policy on professional code of conduct
should be in place. Such a policy should
include attributes such as one being: accurate
in practical works and dealings with
stakeholders, being mindful of the ethos of
confidentiality of information at one’s
disposal, good and well-mannered when it
comes to offering counseling services to
beneficiaries or clients, considerate and non-
discriminatory when it comes to providing
treatment and rendering services to
individuals interested in joining the
organization, being fair in dealing with
colleagues at work including other associated
stakeholders, and being interested in
progressive self-improvement and
development overtime. These are vital
cornerstones of professional conducts on the
part of individuals (Armstrong, 2003).
Becoming a Full Professional in a Faculty
In many universities and colleges where degrees
are issued, it is generally accepted that for
someone to be enrolled or admitted to teach,
he/she should possess a Doctorate degree.
Conventionally, a Doctor’s degree provides one
with the license to teach in a university as a
member of a faculty. This does not simply mean
27. 26
that nowadays becoming a lecturer is the only
reason for taking a Doctorate course since the
degree has a much wider career connotation
outside academia; and many PhDs do not have
academic teaching posts. The concept stems,
though, from the need for a faculty member to be
an authority, in full command of the subject right
up to the boundaries of current knowledge, and
able to extend them (Estelle & Pugh, 2000).
There are six (6) vital points to consider when
one wants to become a full, recognized and
respected professional in a university:
i) At the most basic level it means that you have
something to say that your peers want to
listen to. This could be at the faculty or
school level;
ii) In order to do this, one must have a command
of what is happening in his/her subject so that
you can evaluate the worth of what others are
doing;
iii) You must have the astuteness to discover
where you can make a useful and specific
contribution. This implies that one should be
able to discover his/her potentialities in a
specific field of orientation. Avoid being “a
jack of all trades and a master of none”, as the
saying goes;
iv) You must have mastery of appropriate
techniques that are currently being used and
also be aware of their limitations and
potential solutions;
v) You must be able to communicate your
results effectively in the professional arena;
and
vi) All this should be done or carried out in an
international context. One’s professional peer
group is worldwide. One should be aware of
what is being discovered, argued about,
written and published by your academic
community across the world (Estelle &
Pugh). Indeed it is evident that there are craft
skills involved in becoming a full
professional, which like any skills have to be
learned by doing the task in practice
situations under supervision. The skills
required cannot be easily stated by other
professionals, though many aspects can be
learned from them.
Evaluating Competencies of Teachers in a
University Education
Receiving education at various levels, beginning
with primary up to the university is a birthright.
According to the international covenant on
Economic, Social and Cultural Rights
(UNECOSOC) under article 13, it is emphasized
that States Parties to the covenant should
recognize the right to everyone to education; and
it is agreed that education shall be directed to the
full development of the human personality and
the sense of its dignity, and shall strengthen the
respect for human rights and fundamental
freedoms. It is further approved that higher
education shall enable persons to participate
effectively in a free society, promote
understanding, tolerance and friendship among
all nations and in all racial, ethnic or religious
groups.
It is further elucidated that higher education shall
be made equally accessible to all on the basis of
capacity, by every appropriate means and that
States Parties to the present covenant undertake
to have respect for the liberty of parents, and
when applicable legal guardians to choose for
their children schools other than those established
by public authorities, which conform to such
minimum educational standards as may be laid
down or approved by the State; and to ensure the
religious and moral education of their children in
conformity with their convictions. To this extent,
this research work benefits from not only over
twelve years of teaching and experience in a
university setting, but also applauds the need for
teachers to be mindful and committed enough to
the fact that indeed teaching is, in a way, a
professional calling with codes of conduct to be
appreciated and safeguarded. A lot of sacrifice on
the part of one is called upon into the practice of
the profession. Therefore, as one evaluates his or
her growth and development trajectory in the
profession, it is vital to reflect on the following
concerns associated with the teaching profession:
28. 26
i) Mediocre teacher: This refers to a teacher
who appreciates telling or prescribing what
students should exactly do. Students are not
allowed to openly engage the teacher in an
interactive discussion process in as far as
knowledge and experience projection is
concerned. In a sense, in this teaching
method, the flow of knowledge and
engagement is predominantly one sided,
defined and judged from the perspective of
the teacher.
ii) Good teacher: This kind of teacher is one
who transcends beyond the telling mentality
of prescription. He or she is more engaging,
accommodating, cognitive and explanatory in
orientation. He or she appreciates the
importance of thorough explanation of issues
regarding certain topics. Students are given
the opportunity to ask questions and answers
would be provided accordingly to their
satisfaction.
iii) Superior teacher: This kind of teacher goes
beyond descriptions and explanations of
issues and events. He or she demonstrates on
how issues and events are, or have been,
unfolding over time under certain situations.
To demonstrate means to show clearly; to
prove or make clear especially by reasoning
or giving a number of convincing examples to
validate arguments. To this extent, students
are made to come to terms with practical case
scenarios in contemporary settings. It takes a
willing, learning and proactive teacher over
time to become a considerable and respected
“superior”. As the saying goes, “experience is
the greatest teacher”.
iv) Great teacher: This category of teachers
inspire students not only in a classroom
setting but beyond in terms of their
engagements. In the case of students, they
talk very well and highly of them. They are
highly committed and dedicated to the
profession; and do uphold the ethical code of
conduct to the best of their ability. They
exhibit excellent qualities of academic and
professional leadership, and are seen as role
models by many, both nationally and
internationally. The likes of Professor Dr
Mahmoud Mamdan of Uganda, Professor
Wole Soyinka of Nigeria and Professor
Joseph E. Stiglitz of USA among others are
great examples under this category.
Conclusion
It is not easy for a teacher to sail through to the
top within a short period of time. One has to
nurture the character and conviction of being
willing to learn and appreciate challenges
proactively at all times, under and through
various avenues of engagement. To seek for
feedback information is crucial to provide the
basis for self-improvement and development.
Criticisms levied on a teacher should be taken in
good faith, and used as an opportunity for self-
improvement and development. In any case there
is nobody who can claim to be perfect. If one
appreciates this dictum proactively, then for the
willing and learning teacher, the sky will be the
limit!
References
Estelle M & Phillips D S Pugh (2000), How to
get a PhD: A handbook for students and their
supervisors, New Delhi, UBS Publishers and
Distributers Limited.
Hayes Committee on Personnel Management
(1972), Training for the Management of Human
Resources, Department of Employment, HMSO,
London.
Kevin P Gallagher (Eds) (2005), Putting people
first, London, Zed Books.
Michael Armstrong (2003), A Handbook of
Human Resource Management Practice, London,
Kogan Page.
Milly Nattimba (2009), Government must focus
on research, in The New Vision newspaper of
October 29, 2009, Kampala, p.21.
27
29. 28
Paul Proacter (1981), Dictionary of
Contemporary English, Essex, Longman.
United Nations (2000), Human Rights: The
Committee on Economic, Social and Cultural,
Fact Sheet No. 16, Geneva.
LONDON BUSINESS & VOCATIONAL COLLEGE
(Formerly Tutorial College of Commerce)
(The supportive College & Tutorial Centre for Vocational Training & Academic Learning)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
The College was founded in 1979. It offers various levels of Business and Management
courses to qualify for entrance to membership of several professional bodies.
The College also offers various vocational courses in Early Childhood Studies including,
The Society of Nursery Nursing Practitioners professional examinations, exemptions and
membership.
Further information may be obtained from:
The Registrar
London Business & Vocational College
40 Archdale Road
East Dulwich, London SE22 9HJ
T/F: +44(0)208 693 0555 M: +44 (0)7983 25 46 95
E: info@lbvc.org.uk E: info@lbvc.org.uk
About the Author: Dr Oyat Christopher is a Senior Lecturer in Gulu University where he has taught
consistently for 12 years. He is a faculty member and Professor of Management at the Business University
of Costa Rica (UNEM’s International program). He is also an Adjunct faculty member and Professor of
Management at Sastra Angkor Institute. He is an approved PhD thesis evaluator and member at this
Institute. Besides, Christopher is a member of several accredited professional bodies in Europe and Asia.
He has written 33 articles in good journals.
He may be reached on his e-mail address: oyatchris@yahoo.com
30. 29
The following two articles are by:
Adamu Daniel Kamaru, Ph.D, M.A.S, M.A, PGD (Education), BSc. (Maths.), ANIM, FIMS, AICMR,
M.Fian (Nig.), M.Fian (Ghana), MICAD, Dip (French)
ARTICLE 1
Actuarial Science at a Glance
Introduction
Actuarial Science is a
profession concerned with
the applications of
Mathematical, Statistical,
Probabilistic and Financial
theories to solve real
business problems. These
problems involve analyzing
future financial events, especially where future
payments involved are certain or uncertain
timing.
An Actuary is therefore an expert in Risk
Management who uses his mathematical skills to
help measure the probability and risk of future
events useful in Industries like Healthcare,
Pensions, Insurance, Banking and Investments,
where a single decision can have a major
financial impact.
Actuarial Skills
People who work as Actuaries come from all
sorts of backgrounds, though clearly, they
naturally share a love of Mathematics as well as
Economics and Statistics with the ability to apply
this to real business issues. They are problem
solvers and strategic thinkers with a deep
understanding of financial systems. On the ladder
to achieving a qualification; they develop these
skills and other key skills viz: analyzing data,
evaluating financial risks, communicating clearly
through examination and work-based training.
They are lovers of logic and problem solving,
good communicators with excellent business
acumen.
Projects Handled by an Actuary
Every area of business is subject to risks, so an
actuarial career offers many options. A typical
business problem might involve analyzing future
financial events, especially when elements are
uncertain. But it could also involve understanding
something like the weather: assessing when and
where devastating storms may hit and their
associated costs, for investment and insurance.
Areas of Operation
Traditional areas in which Actuaries operate are
Risk Management, Finance/Investment,
General Insurance, Health/Care, Life
Assurance, Pensions and Resources/
Environment where their analytical skills can be
employed.
1. Risk Management: They help companies to
understand and manage risk in line with their
business objectives.
2. Finance/Investment: They are involved in
research and on the pricing/management of
investments, particularly in mitigating the
risks of investments. In other words, they
work in banks, corporate finance
/investments.
3. General Insurance: They are involved in
rating insurance products, advising on
reserves and capital requirements as well as
similar general insurance activities.
4. Health/Care: They are involved in meeting
the challenging needs in this area, both the
private and public sectors as health provision
models.
5. Life Assurance: This is a traditional area for
Actuaries, with the roles evolving as life
Assurance itself.
6. Pensions: Actuaries play a key role in
advising companies on all manner of pension
schemes and structures.
7. Resources/Environment: Raising awareness
of the implications of resource depletion and
climate change and to highlight those factors
which Actuarial practitioners should consider
when giving advice.
31. 30
With the increasing involvement of risk as a
fundamental part of the financial world almost
two decades ago, Actuarial Science emerged as
the study of calculating and dealing with the
future risk of financial loss.
Since risk is the key factor in places like stock
exchange, banks and insurance companies, the
majority of Actuarial professionals work in these
places and are often equivalent to that integral
part that makes the inner machinery run
smoothly. While working in insurance
companies, they are involved in underwriting
policies, designing financial and pension plans
and also ensuring these plans are maintained on a
sound financial basis. In addition, they analyze
interest rates for life, casualty and property
insurance and estimate the money to be set aside
for claims that have not yet been paid. In other
organizations, they get involved in corporate
planning, forecasting the potential impact of
catastrophes and analyzing of investment
programs. In some countries, they are hired by
the judiciaries to calculate the perspective
earnings required in any case. It is of interest to
note that Actuaries achieve their professional
status by passing the series of examinations
conducted by the Society of Actuaries (SOA)
covering life assurance, investment and
health/pension practice or by the Casualty
Actuarial Society (CAS) for property and
casualty practice exams. These categories of
examinations cover a wide range of topics from
general and Actuarial Mathematics to design and
pricing of financial security systems like life
assurance, pension and property/casualty
insurance etc.
Every new era brings challenges and
consequently, new technologies. The recent
breakthroughs in genetic technology gave rise to
the wholly unique world of Genetics. The
emergence of airplanes in the last century helped
forge the relatively new field of aeronautical
engineering.
ARTICLE 2
Brief Write-up on Vocational Education/Training
Vocational Education/Training can be defined as
an educational training which encompasses
knowledge, skills, competencies, structural
activities, abilities, capabilities and all other
structural experiences acquired through formal,
on-the-job or off-the-job training, which is
capable of enhancing recipients’ opportunity for
securing jobs in various sectors of the economy
or even enabling the person to be self-dependent
by being a job creator.
Apprenticeship as this is called in a local parlance
is a contractual agreement undertaken by the
master-craftsman and the apprentice through
which the apprentice is trained for a prescribed
work process through practical experience under
the supervision of the master-craftsman. It is a
form of workplace learning, which enables the
apprentice to have on-the-job training.
In Nigeria and all over Africa, apprenticeship has
been an age-long method used in training young
people in trades and crafts, agriculture, business,
and catering. During the pre-colonial days,
apprenticeship was the mode of training. It is a
common feature of the traditional setting to see
people engage in a vocation such as farming,
fishing, hunting, carving, carpentry, sculpting,
painting, building, decorating, smithing, catering,
boat-making, mat-making, dyeing and so on. The
apprenticeship system was an institution that was
jealously guarded by customs, lineage and rituals.
Every male born into a family was expected to
learn his patrilineal craft, and it was easy to
identify a young male child as a member of a
lineage found to be proficient in the lineage craft.
During the colonial era, the main interest of the
missionary was evangelization of the Africans. In
order to achieve this purpose, it was thought that
