This document summarizes the findings of a research study on leadership in the real estate industry. Interviews were conducted with CEOs in the UK and Europe. The interviews found that international experience, management education, and exposure to different perspectives were lacking for many leaders and would have benefited their development. Leaders emphasized that real estate is a "people business" requiring strong soft skills. There is also a need for leaders to develop more strategic thinking and the ability to deal with increased complexity and change in the industry.
The document discusses how most CEOs feel unprepared for the rapidly escalating complexity in today's economic environment, which they see as substantially more volatile, uncertain, and complex, however a group of "Standout" organizations have consistently performed well by mitigating complexity. Global shifts like increased interconnectivity and the rise of new technologies are compounding complexity. While CEOs expect disruption to continue, they must find new ways to lead their organizations to succeed in this drastically changed world.
RES FORUM REPORT 2016, Executive Summary GLOBAL, SINGLEKenneth Scott
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Management of government funded construction projects in ghanaAlexander Decker
This document summarizes a research study on the causes of delays in construction projects funded by the Ghanaian government. The researchers conducted a literature review to identify potential causes of delays. They developed a questionnaire to gather stakeholders' perspectives on how common various delay factors are in Ghana's public sector construction industry. 36 stakeholders responded, including clients and professionals. The results suggest the major causes of delays are long bureaucratic processes for approving payment certificates and changes, cash flow problems, lackadaisical decision making, inefficient plant/equipment, and limited liquidity. The researchers conclude the client is often responsible for delays.
Expanding residential real estate in ghana and uganda with audiodelmount
The document discusses expanding residential real estate in Ghana and Uganda. It presents information on the target market of expatriates, potential issues with waste systems in Ghana and transporting raw materials in Uganda, and possible solutions like partnering with local councils. Statistics on transportation, rent, and real estate growth in the two countries are also included. The final section discusses five principles of due process related to communication and decision making between corporate headquarters and subsidiaries.
Assessment of the acceptability of personal guarantees and life assurance pol...Alexander Decker
This document summarizes a research study that assessed the acceptability of personal guarantees and life insurance policies as collateral for loans in Ghana. The study found that while most banks accept personal guarantees, their usage is limited. Non-bank financial institutions had a higher rate of using personal guarantees. Most banks do not accept life insurance policies as collateral. The study aimed to establish the extent guarantees and life insurance are accepted as collateral in Ghana and examine qualification requirements if they were to be accepted. Researchers surveyed credit officers at banks and non-bank financial institutions about their collateral policies and practices regarding guarantees and life insurance.
Business in Africa Pays: The Changing Real Estate Landscape in Ghana - Silk ...BusinessInAfricaPays.com
Silk Solutions is a bespoke financial and investment advisory firm in Ghana that connects high net worth individuals and emerging investors with profitable investment opportunities. The firm works with clients to build customized portfolios and provide ancillary services. Silk Solutions' CEO, Elvina Quaison, has over a decade of experience in business consulting and insights into the needs of Ghanaian diaspora investors. The document then outlines Ghana's growing property development sector, how demand has changed with increased expatriate workers, returnees, and an emerging middle class seeking affordable homes. It profiles Ernest Hanson, an accidental property developer who has had success in Ghana by identifying trends, finding a niche, and partnering with others to build developments that meet the needs of
The document discusses how most CEOs feel unprepared for the rapidly escalating complexity in today's economic environment, which they see as substantially more volatile, uncertain, and complex, however a group of "Standout" organizations have consistently performed well by mitigating complexity. Global shifts like increased interconnectivity and the rise of new technologies are compounding complexity. While CEOs expect disruption to continue, they must find new ways to lead their organizations to succeed in this drastically changed world.
RES FORUM REPORT 2016, Executive Summary GLOBAL, SINGLEKenneth Scott
This executive summary provides an overview of the key findings from the RES Forum Annual Report 2016. It discusses trends related to increasing gender diversity in global mobility, integrating global talent management and global mobility, centralized program management and compliance, and evolving reward package design. Some of the main points covered include the benefits of international assignments for female employees but lack of women in these roles, the importance of integrating global talent management and mobility, trends towards outsourcing compliance activities, and companies tailoring packages based on assignment type and individual needs.
Management of government funded construction projects in ghanaAlexander Decker
This document summarizes a research study on the causes of delays in construction projects funded by the Ghanaian government. The researchers conducted a literature review to identify potential causes of delays. They developed a questionnaire to gather stakeholders' perspectives on how common various delay factors are in Ghana's public sector construction industry. 36 stakeholders responded, including clients and professionals. The results suggest the major causes of delays are long bureaucratic processes for approving payment certificates and changes, cash flow problems, lackadaisical decision making, inefficient plant/equipment, and limited liquidity. The researchers conclude the client is often responsible for delays.
Expanding residential real estate in ghana and uganda with audiodelmount
The document discusses expanding residential real estate in Ghana and Uganda. It presents information on the target market of expatriates, potential issues with waste systems in Ghana and transporting raw materials in Uganda, and possible solutions like partnering with local councils. Statistics on transportation, rent, and real estate growth in the two countries are also included. The final section discusses five principles of due process related to communication and decision making between corporate headquarters and subsidiaries.
Assessment of the acceptability of personal guarantees and life assurance pol...Alexander Decker
This document summarizes a research study that assessed the acceptability of personal guarantees and life insurance policies as collateral for loans in Ghana. The study found that while most banks accept personal guarantees, their usage is limited. Non-bank financial institutions had a higher rate of using personal guarantees. Most banks do not accept life insurance policies as collateral. The study aimed to establish the extent guarantees and life insurance are accepted as collateral in Ghana and examine qualification requirements if they were to be accepted. Researchers surveyed credit officers at banks and non-bank financial institutions about their collateral policies and practices regarding guarantees and life insurance.
Business in Africa Pays: The Changing Real Estate Landscape in Ghana - Silk ...BusinessInAfricaPays.com
Silk Solutions is a bespoke financial and investment advisory firm in Ghana that connects high net worth individuals and emerging investors with profitable investment opportunities. The firm works with clients to build customized portfolios and provide ancillary services. Silk Solutions' CEO, Elvina Quaison, has over a decade of experience in business consulting and insights into the needs of Ghanaian diaspora investors. The document then outlines Ghana's growing property development sector, how demand has changed with increased expatriate workers, returnees, and an emerging middle class seeking affordable homes. It profiles Ernest Hanson, an accidental property developer who has had success in Ghana by identifying trends, finding a niche, and partnering with others to build developments that meet the needs of
Exploring the challenges and barriers in accessing financial facilities by sm...Alexander Decker
This document summarizes a study that explored the challenges small and medium construction firms in Ghana face in accessing financing from financial institutions. The key findings were that the main challenges included strict policy regulations, inadequate financial infrastructure, stringent collateral requirements, and a lack of capacity in the construction sector. Informational barriers and a lack of managerial skills among construction firms were also identified as major barriers. The study aimed to contribute to knowledge on financing construction firms in developing countries and provide recommendations for improving access to financing for small and medium construction firms in Ghana.
Priscilla Osei Asibey is seeking a role as an investment analyst or graduate private equity analyst. She has over 10 years of experience in investment analysis, financial modeling, real estate valuation, and project management. Her experience includes roles at ECA Homes, EMH Global, and Databank Financial Services. She holds an MSc in Real Estate Investment from Cass Business School and a BSc in Development Planning.
A model for reactivating abandoned public housing projects in ghanaAlexander Decker
This document discusses abandoned public housing projects in Ghana and presents a model for reactivating them. It begins by providing background on Ghana's housing deficit and the root causes of abandoned projects, such as improper planning, mismanagement, and changes in government. The document then examines four case studies of abandoned housing projects in Ghana through interviews and literature review. It identifies three major categories of causes for abandonment: poor project implementation, negative political influences, and lack of structures to continue projects across government changes. Finally, it presents a model to reactivate abandoned projects with three main factors: proper project implementation, positive government politics, and adequate continuity structures.
DISSERTATION ON THE NATURE, CONSTRAINTS AND IMPLICATIONS OF MORTGAGE REPAYMEN...AMPOFO AGYEI JUSTICE
This document summarizes a dissertation on mortgage repayment plans in Ghana. It discusses the background and objectives of studying mortgage repayment plans. The key mortgage repayment plan currently used in Ghana is the fixed rate plan. However, this plan poses challenges like higher monthly payments due to interest rate and exchange rate fluctuations. The study found that about 85% of Ghanaian households could not qualify for the cheapest mortgage due to high income requirements under the fixed rate plan. It recommends the government stabilize the economy to reduce costs, and further research to identify more affordable repayment plans.
American’s twenty first century issues and concerns.SADIONA ABAZAJ p.p.1 (2)Sadiona Abazaj
America faces many issues in the 21st century that threaten its status and citizens' well-being. Potential challenges from other global powers could undermine America's safety, economy, and prestige. Social issues like rising eating disorders and an outdated food system put public health at risk. Healthcare problems also loom large, like millions remaining uninsured while obesity grows rapidly. High family debt and poverty levels, coupled with unemployment, weaken the economy. Overall Americans remain optimistic, but continuing challenges may erode the middle class and American Dream.
11.[1 6]the relationship between employee voice and organizational performanc...Alexander Decker
This document examines the relationship between employee voice and organizational performance at Electricity Company of Ghana. It finds a strong positive relationship between the two variables. Statistical analysis shows employee participation accounts for 95.2% of the company's performance, while other factors make up the remaining 4.8%. Interviews found 98.5% of employees feel participation motivates them to work harder. The study concludes organizations should encourage employee participation in decision-making to improve performance.
Evaluation of the factors influencing time and cost overruns in telecom tower...Alexander Decker
This document summarizes a study that evaluated factors influencing time and cost overruns in telecom tower construction projects in Ghana. The study found 15 major factors influencing time overruns and 14 major factors causing cost overruns. Telecom tower construction projects in Ghana from 1992 to 2011 experienced an average of 82% time overruns and 50% increased costs. The study used questionnaires administered to 67 professionals involved in telecom tower construction to identify these factors. It aims to contribute knowledge on project management, especially for Ghana's construction industry, and make recommendations to reduce delays in telecom tower projects.
This document provides a research paper analyzing the growth, IPO performance, and strategies of major Indian real estate companies. It examines 6 publicly listed real estate developers over a 5-year period. The paper finds that during the 2002-2007 boom, real estate companies valued themselves based on optimistic future cash flow projections. However, after the global financial crisis, their share prices fell dramatically and were unable to reach IPO levels. The paper argues that long-term, sustainable performance is needed to justify high valuations. It also calls for stronger regulation of the Indian real estate industry to provide transparency and protect buyers/investors.
The document discusses various contemporary theories and approaches to leadership, including inspirational, charismatic, and transformational leadership. It also covers topics like leadership as communication, how charismatic leaders influence followers, issues with different leadership styles, and the importance of trust and ethics in leadership. Overall, the document provides an overview of modern concepts in leadership studies.
1.1 introduction to real estate project managementIrefuser1
The document discusses effective project management for real estate projects. It describes the key modules and chapters that will be covered in the training program on real estate project management. These include fundamentals of real estate project management, essential knowledge areas like integration management, scope management, time management, cost management, quality management, and more. It provides an overview of the roles and responsibilities of civil engineers in real estate project management. Additionally, it discusses various concepts like project life cycles, project phases, organizational influences on project management, and more.
Team 10 contemporary issues in leadership v1.1Lam Pham
This document discusses contemporary leadership issues and is presented by Prof. Dr. Tomas Benz. It covers three types of trust, contemporary leadership roles including mentoring and self-leadership, challenges to the leadership construct, finding and creating effective leaders, and whether charismatic and transformational leadership generalize across cultures. The presentation concludes with a summary of the key topics.
Real estate & Construction Industry Market Research in IndiaRumanshu Katiyar
The document discusses the construction industry in India. It notes that construction is the second largest industry in India, accounting for 11% of GDP and employing 32 million people. The industry is large and growing, with significant foreign investment from international real estate companies. Challenges include a lack of trained workers and financing for small and medium contractors. Overall, growth in the Indian economy and infrastructure investment are driving increasing opportunities in the construction sector.
As the markets for real estate usually remain stable in many areas of in the world, opportunities continue to exist for the development of real estate projects. This lecture is designed to analyze the real estate development process primarily from the perspective of the developer. The lecture concentrates on the development of a real estate project from its conceptual ideas until the operational start-up, and from the initiation of the concept designs until the project is defined.
The lecture examines most of the phases of the development process, from idea inception through studying the various available options for the use of the lands and estimating the projects' costs and income to determine the best and optimum commercial use of the lands. This includes an overview about the development of the project's financial feasibility of real estate development, which involves the identification and evaluation of critical assumptions related to the creation, construction, and operation of economically viable commercial real estate projects.
The lecture is introductory in scope and assumes attendants have little or no experience with the development process.
An understanding of the real estate development process benefits not only potential developers, but investors, lenders, builders, public sector participants, and end-users of the products as well.
The document discusses the benefits of exercise for both physical and mental health. It notes that regular exercise can reduce the risk of diseases like heart disease and diabetes, improve mood, and reduce feelings of stress and anxiety. The document recommends that adults get at least 150 minutes of moderate exercise or 75 minutes of vigorous exercise per week to gain these benefits.
1) CEOs now see complexity as their biggest challenge rather than change. 79% expect complexity to increase further.
2) While most CEOs doubt their ability to manage growing complexity, some "Standout" organizations have used it to their financial advantage over the past 5 years.
3) CEOs say creativity is now the most important leadership quality to navigate complexity successfully. Standout companies practice and encourage experimental, creative thinking.
The document discusses how most CEOs feel unprepared for today's highly complex environment characterized by increased globalization, uncertainty, and interconnectedness. While complexity is expected to rise further, some organizations have been able to turn it into a competitive advantage by embracing creative leadership, reinventing customer relationships, and building operating dexterity. The document examines how these "Standout" organizations mitigate complexity and highlights the new approaches CEOs say are needed to succeed in today's drastically changed world.
1) CEOs now see complexity, rather than change, as their primary challenge due to a highly volatile, uncertain, and complex global environment.
2) While 79% of CEOs expect complexity to increase further, some organizations have managed to turn greater complexity into financial advantage.
3) CEOs identified creativity as the most important leadership quality for navigating increasing complexity.
This document discusses effective leadership and proposes a "Circumplex model of Effective leadership". It argues that effective leadership focuses on personal growth, followers' growth, and organizational goals. The model includes four elements: achieving organizational goals, developing followers, personal leadership, and self-transcendence. The author analyzes cases of failed leadership in developing countries and proposes that transformative leadership is needed to meet people's aspirations and address leadership problems systematically rather than through quick fixes.
4.0 Leadership Skills in Hospitality Sector (002).pdfUmeeNausheera
This document discusses leadership skills needed in the hospitality sector in the era of Industry 4.0. It begins with an introduction to the changing business environment and increased importance of leadership. It then reviews theories of transactional and transformational leadership. The literature review examines prior research on competencies for the hospitality sector, finding that interpersonal skills remain important but some roles now require digital skills. Studies identified top skills as including communication, problem-solving, teamwork, customer service, and technology use. The document aims to identify leadership skill profiles needed in Industry 4.0 hospitality organizations.
THE LIVED EXPERIENCE OF THE STRATEGIC LEADER: WHAT EFFECTIVE CEOs DO, HOW THE...Sewells MSXI
The document discusses a study on the lived experience of strategic leaders. The study aimed to understand what CEOs do, how they do it, and how they think about it. Five CEOs from the automotive industry in South Africa were observed over 755 hours using various qualitative methods including observation of critical incidents, structured interviews, and document analysis. The results identified two common thinking patterns among CEOs and developed the "pure leadership spider-web model" with eight dimensions to describe strategic leadership.
The Influence Of The Top Management Team Diversity On Indonesia Regional Ban...Joy Elly Tulung
This document summarizes a presentation on a study about the influence of top management team diversity on the performance of regional banks in Indonesia. The study examines how characteristics like the average age and level of education diversity of top managers impact the performance of 24 regional banks over 2007-2011. Hypotheses are that higher average age and greater education diversity will positively influence bank performance. The methodology section indicates a deductive approach was used, analyzing 184 top managers across the banks based on annual report data to test the hypotheses.
Exploring the challenges and barriers in accessing financial facilities by sm...Alexander Decker
This document summarizes a study that explored the challenges small and medium construction firms in Ghana face in accessing financing from financial institutions. The key findings were that the main challenges included strict policy regulations, inadequate financial infrastructure, stringent collateral requirements, and a lack of capacity in the construction sector. Informational barriers and a lack of managerial skills among construction firms were also identified as major barriers. The study aimed to contribute to knowledge on financing construction firms in developing countries and provide recommendations for improving access to financing for small and medium construction firms in Ghana.
Priscilla Osei Asibey is seeking a role as an investment analyst or graduate private equity analyst. She has over 10 years of experience in investment analysis, financial modeling, real estate valuation, and project management. Her experience includes roles at ECA Homes, EMH Global, and Databank Financial Services. She holds an MSc in Real Estate Investment from Cass Business School and a BSc in Development Planning.
A model for reactivating abandoned public housing projects in ghanaAlexander Decker
This document discusses abandoned public housing projects in Ghana and presents a model for reactivating them. It begins by providing background on Ghana's housing deficit and the root causes of abandoned projects, such as improper planning, mismanagement, and changes in government. The document then examines four case studies of abandoned housing projects in Ghana through interviews and literature review. It identifies three major categories of causes for abandonment: poor project implementation, negative political influences, and lack of structures to continue projects across government changes. Finally, it presents a model to reactivate abandoned projects with three main factors: proper project implementation, positive government politics, and adequate continuity structures.
DISSERTATION ON THE NATURE, CONSTRAINTS AND IMPLICATIONS OF MORTGAGE REPAYMEN...AMPOFO AGYEI JUSTICE
This document summarizes a dissertation on mortgage repayment plans in Ghana. It discusses the background and objectives of studying mortgage repayment plans. The key mortgage repayment plan currently used in Ghana is the fixed rate plan. However, this plan poses challenges like higher monthly payments due to interest rate and exchange rate fluctuations. The study found that about 85% of Ghanaian households could not qualify for the cheapest mortgage due to high income requirements under the fixed rate plan. It recommends the government stabilize the economy to reduce costs, and further research to identify more affordable repayment plans.
American’s twenty first century issues and concerns.SADIONA ABAZAJ p.p.1 (2)Sadiona Abazaj
America faces many issues in the 21st century that threaten its status and citizens' well-being. Potential challenges from other global powers could undermine America's safety, economy, and prestige. Social issues like rising eating disorders and an outdated food system put public health at risk. Healthcare problems also loom large, like millions remaining uninsured while obesity grows rapidly. High family debt and poverty levels, coupled with unemployment, weaken the economy. Overall Americans remain optimistic, but continuing challenges may erode the middle class and American Dream.
11.[1 6]the relationship between employee voice and organizational performanc...Alexander Decker
This document examines the relationship between employee voice and organizational performance at Electricity Company of Ghana. It finds a strong positive relationship between the two variables. Statistical analysis shows employee participation accounts for 95.2% of the company's performance, while other factors make up the remaining 4.8%. Interviews found 98.5% of employees feel participation motivates them to work harder. The study concludes organizations should encourage employee participation in decision-making to improve performance.
Evaluation of the factors influencing time and cost overruns in telecom tower...Alexander Decker
This document summarizes a study that evaluated factors influencing time and cost overruns in telecom tower construction projects in Ghana. The study found 15 major factors influencing time overruns and 14 major factors causing cost overruns. Telecom tower construction projects in Ghana from 1992 to 2011 experienced an average of 82% time overruns and 50% increased costs. The study used questionnaires administered to 67 professionals involved in telecom tower construction to identify these factors. It aims to contribute knowledge on project management, especially for Ghana's construction industry, and make recommendations to reduce delays in telecom tower projects.
This document provides a research paper analyzing the growth, IPO performance, and strategies of major Indian real estate companies. It examines 6 publicly listed real estate developers over a 5-year period. The paper finds that during the 2002-2007 boom, real estate companies valued themselves based on optimistic future cash flow projections. However, after the global financial crisis, their share prices fell dramatically and were unable to reach IPO levels. The paper argues that long-term, sustainable performance is needed to justify high valuations. It also calls for stronger regulation of the Indian real estate industry to provide transparency and protect buyers/investors.
The document discusses various contemporary theories and approaches to leadership, including inspirational, charismatic, and transformational leadership. It also covers topics like leadership as communication, how charismatic leaders influence followers, issues with different leadership styles, and the importance of trust and ethics in leadership. Overall, the document provides an overview of modern concepts in leadership studies.
1.1 introduction to real estate project managementIrefuser1
The document discusses effective project management for real estate projects. It describes the key modules and chapters that will be covered in the training program on real estate project management. These include fundamentals of real estate project management, essential knowledge areas like integration management, scope management, time management, cost management, quality management, and more. It provides an overview of the roles and responsibilities of civil engineers in real estate project management. Additionally, it discusses various concepts like project life cycles, project phases, organizational influences on project management, and more.
Team 10 contemporary issues in leadership v1.1Lam Pham
This document discusses contemporary leadership issues and is presented by Prof. Dr. Tomas Benz. It covers three types of trust, contemporary leadership roles including mentoring and self-leadership, challenges to the leadership construct, finding and creating effective leaders, and whether charismatic and transformational leadership generalize across cultures. The presentation concludes with a summary of the key topics.
Real estate & Construction Industry Market Research in IndiaRumanshu Katiyar
The document discusses the construction industry in India. It notes that construction is the second largest industry in India, accounting for 11% of GDP and employing 32 million people. The industry is large and growing, with significant foreign investment from international real estate companies. Challenges include a lack of trained workers and financing for small and medium contractors. Overall, growth in the Indian economy and infrastructure investment are driving increasing opportunities in the construction sector.
As the markets for real estate usually remain stable in many areas of in the world, opportunities continue to exist for the development of real estate projects. This lecture is designed to analyze the real estate development process primarily from the perspective of the developer. The lecture concentrates on the development of a real estate project from its conceptual ideas until the operational start-up, and from the initiation of the concept designs until the project is defined.
The lecture examines most of the phases of the development process, from idea inception through studying the various available options for the use of the lands and estimating the projects' costs and income to determine the best and optimum commercial use of the lands. This includes an overview about the development of the project's financial feasibility of real estate development, which involves the identification and evaluation of critical assumptions related to the creation, construction, and operation of economically viable commercial real estate projects.
The lecture is introductory in scope and assumes attendants have little or no experience with the development process.
An understanding of the real estate development process benefits not only potential developers, but investors, lenders, builders, public sector participants, and end-users of the products as well.
The document discusses the benefits of exercise for both physical and mental health. It notes that regular exercise can reduce the risk of diseases like heart disease and diabetes, improve mood, and reduce feelings of stress and anxiety. The document recommends that adults get at least 150 minutes of moderate exercise or 75 minutes of vigorous exercise per week to gain these benefits.
1) CEOs now see complexity as their biggest challenge rather than change. 79% expect complexity to increase further.
2) While most CEOs doubt their ability to manage growing complexity, some "Standout" organizations have used it to their financial advantage over the past 5 years.
3) CEOs say creativity is now the most important leadership quality to navigate complexity successfully. Standout companies practice and encourage experimental, creative thinking.
The document discusses how most CEOs feel unprepared for today's highly complex environment characterized by increased globalization, uncertainty, and interconnectedness. While complexity is expected to rise further, some organizations have been able to turn it into a competitive advantage by embracing creative leadership, reinventing customer relationships, and building operating dexterity. The document examines how these "Standout" organizations mitigate complexity and highlights the new approaches CEOs say are needed to succeed in today's drastically changed world.
1) CEOs now see complexity, rather than change, as their primary challenge due to a highly volatile, uncertain, and complex global environment.
2) While 79% of CEOs expect complexity to increase further, some organizations have managed to turn greater complexity into financial advantage.
3) CEOs identified creativity as the most important leadership quality for navigating increasing complexity.
This document discusses effective leadership and proposes a "Circumplex model of Effective leadership". It argues that effective leadership focuses on personal growth, followers' growth, and organizational goals. The model includes four elements: achieving organizational goals, developing followers, personal leadership, and self-transcendence. The author analyzes cases of failed leadership in developing countries and proposes that transformative leadership is needed to meet people's aspirations and address leadership problems systematically rather than through quick fixes.
4.0 Leadership Skills in Hospitality Sector (002).pdfUmeeNausheera
This document discusses leadership skills needed in the hospitality sector in the era of Industry 4.0. It begins with an introduction to the changing business environment and increased importance of leadership. It then reviews theories of transactional and transformational leadership. The literature review examines prior research on competencies for the hospitality sector, finding that interpersonal skills remain important but some roles now require digital skills. Studies identified top skills as including communication, problem-solving, teamwork, customer service, and technology use. The document aims to identify leadership skill profiles needed in Industry 4.0 hospitality organizations.
THE LIVED EXPERIENCE OF THE STRATEGIC LEADER: WHAT EFFECTIVE CEOs DO, HOW THE...Sewells MSXI
The document discusses a study on the lived experience of strategic leaders. The study aimed to understand what CEOs do, how they do it, and how they think about it. Five CEOs from the automotive industry in South Africa were observed over 755 hours using various qualitative methods including observation of critical incidents, structured interviews, and document analysis. The results identified two common thinking patterns among CEOs and developed the "pure leadership spider-web model" with eight dimensions to describe strategic leadership.
The Influence Of The Top Management Team Diversity On Indonesia Regional Ban...Joy Elly Tulung
This document summarizes a presentation on a study about the influence of top management team diversity on the performance of regional banks in Indonesia. The study examines how characteristics like the average age and level of education diversity of top managers impact the performance of 24 regional banks over 2007-2011. Hypotheses are that higher average age and greater education diversity will positively influence bank performance. The methodology section indicates a deductive approach was used, analyzing 184 top managers across the banks based on annual report data to test the hypotheses.
This document discusses the evolution of effective leadership from a singular focus on management skills to a multidimensional approach. It describes how leadership has become viewed as a process involving social influence to accomplish common tasks. Modern leadership requires the ability to understand information across multiple dimensions, functions, and levels within an organization. The document traces how views of leadership have expanded over time from early concepts of management to incorporate interpersonal skills and a broader focus on developing others.
This document provides an overview of research conducted on leadership development in the Singapore public service. The research was a joint project between the Center for Creative Leadership and the Civil Service College. Interviews were conducted with 36 public service leaders to identify key events and lessons that influenced their leadership development.
The research found that the most significant stimuli for leadership development were challenging assignments, cited by 92% of interviewees. Relationships with bosses were also key, with 53% citing them as an important source of learning. The lessons on managing/motivating staff and accountability were most widely cited. This suggests the importance of developmental relationships and experience-based learning for leadership development in the public service.
This document is an MBA project report submitted in 1992 that examines the managerial activities of managers in Hong Kong. It collected information from 58 managers through a questionnaire. The results found that managers in Hong Kong placed more emphasis on decision-making activities. In general, they perceived their major role as decision-making and were task-oriented. The top five most important activities were related to decision-making and facilitating decision-making. However, this task-oriented attitude could lead to poor relationships and employee dissatisfaction. The report therefore suggests maintaining a balance among decisional, interpersonal, and informational roles.
This document discusses the results of a survey conducted by the Economist Intelligence Unit and Development Dimensions International on global executive talent. The key findings are:
1) 55% of executives surveyed said their company's performance will likely suffer in the near future due to insufficient leadership talent.
2) Developing leaders with skills like motivating employees, working across cultures, and facilitating change are seen as critical for success over the next five years.
3) While companies recognize the importance of talent management, many still struggle with ensuring they have the right people in the right jobs and developing the global, cross-cultural leadership abilities required in today's business environment.
The document discusses the findings of a survey of 412 executives on talent management conducted by the Economist Intelligence Unit on behalf of Development Dimensions International. Key findings include:
1) 55% of respondents said their company's performance will likely suffer in the near future due to insufficient leadership talent.
2) While executives recognize the importance of talent management, they rate their own performance in this area poorly, with only 3% saying they do an excellent job.
3) There is a disconnect between viewing talent management as a high priority and the limited progress companies are making in actually developing leadership talent.
4) The survey highlights a need for companies to integrate talent strategies with business goals and ensure talent management is champion
This document analyzes the relationship between international experience and transformational leadership style. It hypothesizes that greater international experience is positively correlated with higher levels of transformational leadership. The document tests this hypothesis by analyzing the biographies of 5 Asian business leaders, examining factors like time spent abroad, number of countries visited, purposes of visits, cultures experienced, and differences between home and foreign cultures. The analysis found that higher levels of international experience were indeed correlated with more transformational leadership styles. Therefore, the first hypothesis was accepted, while the second, about the relationship being affected by specific experience factors, was rejected.
IN SEARCH OF GLOBAL LEADERSHIP Mark E. Mende.docxjaggernaoma
IN SEARCH OF GLOBAL LEADERSHIP
Mark E. Mendenhall
Burton Frierson Chair of Excellence in Business Leadership
College of Business
University of Tennessee, Chattanooga
615 McCallie Avenue
Chattanooga, TN 37403
[email protected]
Allan Bird
Darla and Frederick Brodsky Trustee Professor in Global Business
Northeastern University
D’Amore-McKim School of Business
360 Huntington Avenue
Boston, MA 02035
[email protected]
Published as:
Mendenhall, M.E., & Bird, A. 2013. “In search of global leadership.” Organizational Dynamics,
42: 167-174.
IN SEARCH OF GLOBAL LEADERSHIP
2
EXECUTIVE SUMMARY
The vast majority of top management teams of firms from all over the world would likely agree
that they need more global leaders in their managerial cadres. Unfortunately, most firms struggle
to develop their existing managers into global leaders. It turns out that developing global
leadership competencies in managers does not occur with “one-size-fits-all” training programs or
traditional management development courses. We contend that firms’ failures in their global
leadership development efforts stem mainly from two “disconnects” – failing to understand what
global leadership is, and failing to understand the core competencies needed for global
leadership. Based on recent research, we provide a framework to assist top management to better
understand the relationship between the “global” dimension of leadership and the strategic
development of global leadership development programs that are effective, and how to decide
which competencies should be included in their global leadership development programs and
how to approach developing those competencies in their managers.
IN SEARCH OF GLOBAL LEADERSHIP
3
IN SEARCH OF GLOBAL LEADERSHIP
Few executives disagree with the notion that “we need more people — at all levels of the
company — who have the ability to effectively operate in their roles from a global perspective.”
A recent study by the World Economic Forum that investigated the most urgent issues that
leaders face, reported:
One theme that recurs more than any other is the need for clear, dynamic leadership in a
fast changing world. Given … that most of today’s leaders … grew up in a vastly
different world from today’s, it is perhaps no surprise that leadership remains the biggest
challenge of all for 2013 and beyond.
Yet, by all accounts, the effectiveness of efforts to develop global leaders for most
companies has been mixed at best, and in most cases disappointing. Why is that?
We, along with our colleagues, have been studying global leadership since it emerged as
an important issue for companies in the late 1990s. While it is too early to say that we know all
about global leadership and.
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Real Estate Leadership Issues 2011 - Henley Business School
1. Henley Business School
White paper
Real estate leadership:
issues and challenges
Professor Andrew Baum, Professor John Ratcliffe, Ana Silva
2. The purpose of this research
study is to understand more
about leaders of the real
estate industry…Through
this research we aim to
lay the foundation for a
better understanding of the
executive training needs of
the industry, and to foster
an awareness of the need to
develop strategic thinking and
authentic leadership towards
a sustainable and responsible
world of property.
3. Real estate leadership: issues and challenges
‘Several leading CEOs Background and context
emphasised that, above Identifying and developing leadership talent is a top priority issue for all
all else, real estate was organisations. Identifying high potential individuals early, understanding
their strengths and development needs, and actively building their
a “people business”, capability through training and development are all necessary to ensure
and this sentiment was that businesses have the proper leadership to compete successfully.
echoed to varying degrees In the Harvard Business Review, January 2010, Morten T. Hansen,
Hermina Ibarra, and Urs Peyer, three professors from INSEAD, examined
by virtually all those the long-term performance of more than 1,000 global companies in an
interviewed. Indeed, a attempt to compile a list of corporate leaders who delivered the most
shareholder value over the course of their tenures. Among other things,
couple of eminent CEOs
the study compared the performance of CEOs who have MBAs and those
notably stated, quite who do not. The MBAs came out on top, by a long way: from 1,109 CEOs
unequivocally, that their from companies based in Germany, Britain, France, and the United States,
the 32% of CEOs who had an MBA ranked, on average, 40 places better
role as leaders was about than the CEOs without an MBA.
people, not about making This is an example among many of applied leadership research with
or losing money.’ a simple conclusion. However, while something is known about the
corporate sector, our understanding of leadership issues in professional
service sectors, and the real estate sector in particular – even the
education and qualification levels of CEOs – is very limited. In order to
make a contribution towards this understanding, Henley Business School
undertook research in late 2010 and 2011, sponsored by SEGRO plc and
supported by EPRA (the European Public Real Estate Association).
The purpose of this research study is to understand more about leaders
of the real estate industry, and in particular the training and formative
experiences of leaders of the industry based in the UK and continental
Europe (CE). Through this research we aim to lay the foundation for a
better understanding of the executive training needs of the industry, and to
foster an awareness of the need to develop strategic thinking and authentic
leadership towards a sustainable and responsible world of property.
The research method
An initial survey was completed in late 2010. This preliminary research
study was focussed on the UK. A second survey, undertaken in spring
2011, focussed on continental Europe (CE).
The UK and continental Europe studies each had two component parts.
First, by means of an online questionnaire survey, we set out to establish
the typical profiles of leaders in the real estate industry in terms of
qualifications, experience, demographic profile and training.
Second, through a series of interviews and workshops with leadership
in the field of real estate investment, development, management and
consultancy, we set out to identify the key experiences and qualities that
enable senior executives to progress to the top of their profession and
function effectively.
1
4. Real estate leadership: issues and challenges
‘All those who had The sample
attended formal graduate The questionnaire was sent out to around 100 individuals believed to be
or executive training acting as Chairmen, CEOs and Senior Partners in property companies
and REITs*, fund managers and real estate service providers. The survey
programmes declared that responses were completed between 1st December 2010 and 27th May 2011.
they derived great benefit’ There were 54 questionnaire respondents, a response rate of around 55%.
24 were UK-based; 30 were based in continental Europe.
Between November 2011 and May 2011 we also held ten interviews with
UK CEOs and 15 interviews with continental European CEOs during an
EPRA workshop.
Results: the questionnaire research
Demographics
94.4% of the respondents were male (there were only 3 female
respondents). The majority (59.6%) were between 46 and 55 years old.
Other age groups included 36–45 (22.2%) and 56–65 (13%). There were two
respondents aged under 35 and one respondent over 66.
50% (27 respondents) were British (slightly more than is indicated by
the domicile of those companies surveyed); other well-represented
nationalities included Dutch (11.1% or 7 respondents), French and
Portuguese (7.4% or 4 each), German and Spanish (5.6% or 3 each), and 3.7%
(2) were American.
Current position, employment history
57.4% (31) describe themselves as CEOs; 24.1% (13) are Managing Directors;
and 9.3% (5) are Chairmen. Other titles used included Chief Operating
Officer, Joint CEO, Chief Investment Officer and Deputy Chairman.
38.9% (21) have only been in the current position for between one and
three years; 37% (20) have been appointed for between four and nine years;
and 18.5% (10) have been in their current position for over 10 years. Three
CEOs have been appointed for under 12 months.
27.8% (15) have been working for their current company for between six
and ten years but 25.9% (14) joined less than 3 years ago. 14.8% have been
with their current company for over 20 years.
72.2% (39) have worked for between three and five companies, while 14.8%
have worked for 5–10 companies and the remainder have worked for
fewer than three companies.
*
Real Estate Investment Trust
2
5. Real estate leadership: issues and challenges
Education history
87% (47) have at least an undergraduate degree; real estate is the most
popular degree, held by 34% (16), followed by Business Studies (19.1%) and
Engineering (10.6%).
55.3% of first degrees were obtained in the UK, followed by Netherlands
(10.5%), France (8.5%) and Spain (6.4%). This is in line with the nationalities
of the respondents and suggests a national bias at undergraduate level.
The most popular universities are the University of Reading, UK (13–7%),
the University of Cambridge, UK (8.5–4%), the University of Oxford, UK
(6.4–3%) and ESADE, Spain (4.3–2%).
44.7% (21) have a postgraduate degree, of which 47.6% (10) have MBAs.
Other master’s degree subjects include finance, business studies,
economics, real estate and law.
While undergraduate degrees appear to be taken at home, this is not as
true for postgraduate degrees. The most popular country for postgraduate
degrees is the US with 28.55% of respondents.
A higher than expected number of postgraduate degrees were obtained
in France (23.8%, or 5), others being obtained in the UK (19%), Spain (14.3%),
Netherlands (9.5%) and Portugal (4.8%).
71.4% of respondents undertook postgraduate education within five years
of their undergraduate degree, 19% between 5 and 10 years later, and the
remaining 9.5% over 10 years after completion of undergraduate study.
Professional qualifications
79.6% (43) of respondents are members of a professional organisation. Of
those, 55.8% (slightly more than the total UK sample) are members of the
RICS*; while 16.2% are members of the Urban Land Institute, and a similar
proportion sees EPRA as their main professional organisation.
Management development education
‘There was … exposure 51.9% (28) have benefited from non-degree level management development
(executive) education. Of those, 44.4% identified leadership as the focus,
to different ways of
followed by managing teams (27.8%) and accountancy/finance (25.9%).
thinking about and 55.6% devoted under four weeks for any management education, whereas
doing things’ 16.7% dedicated 20 weeks or more to management development training.
The most popular institution cited is Ashridge Business School (17.8%),
followed equally by INSEAD, Henley Business School and Harvard
Business School (14.2% each), then Cranfield and IMD (7.1% each).
83.3% (45) have not studied towards a technical diploma. Those who did (9
respondents) mainly selected the RICS direct examination.
*
Royal Institute of Chartered Surveyors
3
6. Real estate leadership: issues and challenges
Results: interviews
In the interviews, we used a semi-structured interview format built
around eight questions in one-to-one and small group discussions.
What turning points in your career prepared you for leadership?
Many, if not most, of the participants had held early positions of responsibility
throughout their formative years. Likewise, at tertiary level, a good number
had taken on extra-curricular leadership roles. Few cited their undergraduate
educational experiences as being especially transformative, whilst all those
who had attended formal graduate or executive training programmes declared
that they derived great benefit. Indeed, one described a short course at INSEAD
as ‘life-changing’; another the MBA at Cranfield as being ‘transformative’; and
one more that having a personal coach as being a ‘significant turning point’.
The first job, the first boss and the first big project (including an
influential client) all figured as notable turning points. Other key
experiences were working as personal assistant to the senior partner;
starting-up a new department; establishing an international office; and
meeting and working with someone ‘special’.
International experience of various kinds came to the fore as a common
point of self-realisation and aspiration. Whether it was the broader
cultural milieu of Europe, the excitement of emerging markets in the
Middle or Far East or the cutting-edge of American business practice,
working overseas was seen by most participants as a mind-changing
episode in their professional lives and a stepping-stone to later leadership.
In the continental european sample, there was more evidence of a formal
approach to developing leadership, and several examples of ‘leadership
being thrust upon me’.
Do/did you have a mentor or role model?
Mentors and role models were often found in the first place of work,
sometimes among parents and other family members, and once in the
form of a client, but (in the UK sample) never formally appointed or sought.
A typical comment was ’no mentor, but several role models’. Among the
CE sample were two examples of formal mentor/life coach roles, and one
comment that previous leaders ‘were models for what NOT to do’.
What do you think you would have benefitted from but did not get
in your education, training or career development?
‘In the UK sample there Many interviewees cited international experience, formal management
education, and ’an exposure to other ways of doing things and a broader
was common regret about
perspective’. In the UK sample there was common regret about a lack of
a lack of management management education, while in the CE sample were regrets about a lack
education’ of real estate skills at the beginning of the career and a more commonly
expressed absence of gap years, MBA opportunities or time off to study.
What previous experience have you gained, and what in particular
did you gain from it?
Of the UK respondents, a small majority had international experience;
all had worked in different property sectors; but only two had worked in
other industries (banking).
4
7. Real estate leadership: issues and challenges
Within the CE sample, a clear majority had international experience and
more had worked in different industries (including construction, engineering
and banking) with less experience of different property sectors.
What skills do you think future leaders of real estate will require?
People skills, leadership skills, breadth and strategic vision, how to process
large quantities of relevant information, real estate basics and financial
skills were all cited, plus ‘an open mind and the guts to be different.’
Particular comments included: ‘the capacity to mobilise or motivate teams
and being quicker to move’; ‘independence of mindset; following your own
route; be energetic and do not be afraid of change; be able to adapt to other
cultures/systems’; ‘to define a strategy and to stick to this on a long term
basis’; ‘strategic vision, team player, dealing with adversity, ambiguity,
uncertainty, energy, confidence and conviction’ and ‘motivational
communication, out of the box thinking, team playing and modesty.’
What are the strongest forces / influences driving change in the
real estate markets?
‘The forces cited most The forces cited most were globalisation, demographics and urban
concentration, finance, regulation and risk management, and technology.
were globalisation,
Interesting comments included: ‘short term investors, long term asset’.
demographics and Sustainability was mentioned by a minority.
urban concentration, What is missing, in your opinion, from the general leadership skill-sets
finance, regulation and displayed in the current real estate industry?
Thinking strategically; people skills; marketing and communication skills,
risk management, and
innovation; debt experience; better understanding of the income statement
technology’ as well as the balance sheet; lack of international perspective; sustainability;
and, especially in the UK sample, creativity (‘too much old boy network – the
RICS is outdated, with a big and unbridgeable split between general practice
and investment’ and ‘CEOs can be too slow and resistant to change’.
‘The ability to manage assets in a much more business-like manner and to
have a proper working knowledge of the tenants’ businesses.’
‘The ability to have a clear mission, communicate it to all the stakeholders
and then to delegate to ensure that the mission is completed in line with
expectations.’
Are there other relevant issues you wish to raise?
Examples: ‘Listening is more important than talking’; ‘be honest – we
don’t know it all’; ‘be non-territorial’; ‘think of yourself last’; ‘real estate in
the UK has been ‘spoilt’ by long leases, and shorter leases now demand a
much more dynamic approach to management’.
Who do you most admire as a leader?
Popular real estate leader models included Guillaume Poitrinal of Unibail
Rodamco (5); Leon Bressler (2); Patrick Vaughan (2); Sam Zell (2). Respected
leaders outside the real estate industry included Nelson Mandela (4);
Warren Buffet (2); Steve Jobs (2); and Barack Obama (2).
5
8. Real estate leadership: issues and challenges
General comments and conclusions
Three prevailing themes recurred throughout the interviews. First, a
broader and strategic perspective was demanded of real estate leaders.
Second, international experience was of inestimable worth in developing
leadership potential. And third, property is a people business requiring
greater emphasis on the softer skills of leadership and management.
Management, business and finance; people skills
The point was forcefully, and repeatedly, made that interpersonal skills,
such as communicating, listening and persuading, were sadly neglected
in real estate education. Even marketing and negotiating, which lay at the
heart of so much property business, were scantly treated. There was also
little exposure to different ways of thinking about and doing things.
Strategic perspective
‘Another common cri de Another common cri de coeur was the need to develop greater leadership
capacity throughout the industry in the art and science of strategic
coeur was the need to
thinking, planning and decision-making. Being able to understand and
develop greater leadership deal with increasing turbulence, and tackle the complexity, risk and
capacity throughout uncertainty that come with it, was seen as an immediate and growing
imperative for real estate leaders, both current and aspiring. ‘We are
the industry in the art poorly prepared for change’ was one individual indictment.
and science of strategic Future attitudes and aptitudes
thinking, planning and There was widespread recognition that the building momentum of
decision-making’ globalisation, sustainability and responsibility would demand of real
estate leaders a greater understanding of the driving forces of change
– social, technological, environmental, economic and political – and a
facility to forge resilient strategies for their organisations in the face of
growing complexity, heightened uncertainty and variable risk.
Values, standards and ethics
Generally, there was an appreciation that society expected higher
levels and standards of performance, accountability and transparency
of business – together with more effective monitoring regulation and
enforcement. The emerging cadre of leaders would have to be familiar
with, and comfortable about, directing and managing real estate
organisations in this setting of stricter governance. More specifically,
some participants observed that there was a need on the part of the
real estate industry to respond more actively to the expanding role of
corporate social responsibility and to take more pride in the public realm.
Cross-border competence
One UK CEO interviewed: ‘Cross-border skills (in the UK) are appalling!’
There was common agreement that property professionals should be
better versed in the legal, economic and cultural conditions prevailing in
the markets and societies where they practice and conduct business.
6
9. Real estate leadership: issues and challenges
‘What is missing?… Mastering business basics
thinking strategically; A frequently expressed view was that leaders in the UK real estate industry
used to get where they are, and largely still do, by being good surveyors,
people skills; marketing not by being good at business, or by being good managers. This, it was
and communication skills, commonly held, is changing, and is much less of an issue in CE.
innovation’ Property as a product
By contrast, it was felt by a number of participants (especially in CE) that
there was a need to return to a position where property was understood,
whether it be for investment, development, management, marketing or
valuation purposes, more for its inherent functional and physical qualities
than simply as just another financial asset class. This required a special
kind of informed and experienced leadership.
Leading and managing people
Several leading CEOs emphasised that, above all else, real estate was
a ‘people business’, and this sentiment was echoed to varying degrees
by virtually all those interviewed. Indeed, a couple of eminent CEOs
notably stated, quite unequivocally, that their role as leaders was about
people, not about making or losing money. They, and others, also held
strongly that the principles they personally espoused should be seen to be
practiced unwaveringly and set standards for the organisation as a whole.
Almost everyone contributing highlighted the need for future leaders to
comprehend ‘the big picture’, developing a broader perspective on the
world of property and the influences brought to bear upon it.
The importance of looking after what were popularly described as ‘the
rainmakers’ was stressed repeatedly. It was widely recognised that in
many, if not most, property organisations a handful of star performers
created disproportionate amounts of value. Competitiveness depended
upon recruiting and retaining such smart people. Special leadership
strategies to give them space, connectivity, scope, support and respect
were required. Furthermore, as one CEO stated: ‘The deal makers want a
say’. In the same context, there was an appreciation that more attention
should be paid to identifying and nourishing potential talent throughout
the organisation in all aspects of its work.
The changing nature of work
Surprisingly few of those interviewed offered opinions regarding how
changes in space, human resources, technology, the workplace and the
nature of work itself might affect leadership styles and strategies. Those
who did comment, however, envisaged major shifts in terms of location,
creativity, communication, collaboration, knowledge and information. It
was felt that leadership, at all levels, would be affected in many ways as
yet unexplored, but in particular by communication technology.
7
10. Real estate leadership: issues and challenges
What next?
The three prevailing themes bear repetition:
It is an easy conclusion to International experience
draw that more aspiring International experience is of inestimable worth in developing leadership potential.
The profiles of current CEOs stress international experience, and it is clear that this is
real estate leaders should a key-indicator of later success.
go to business school.
A broader and strategic perspective
Leaders crave the opportunity to develop a broader and strategic perspective, yet
fewer than 20% have MBAs, compared to over 30% in the corporate sector studied by
Hansen, Ibarra and Peyer.
Property is a people business
Finally, property is a people business requiring greater emphasis on the softer skills
of leadership and management, which is missing from the most popular education
programmes used by real estate CEOs.
Henley Business School
Using this research as a foundation, Henley Business School
is now dedicated towards the development of leadership
programmes for the real estate industry and major
initiatives are now being developed.
Firstly, open and customised strategic leadership programmes with the
following general objectives:
• To develop a strong cadre of future leaders capable of dealing with
business critical issues.
• To build organisational agility to respond to new business challenges.
• To build enhanced managerial and leadership capability to provide
sustainable competitive advantage.
• To create a common sense of purpose, urgency and drive for success.
• To provide a common ground and a shared understanding of management
knowledge, business acumen and best practice.
The initial courses were delivered in December 2010 and June/July 2011; others
are scheduled for December 2011 and 2012. Customised programmes designed
particularly for real estate firms are also now running.
The development of pathways for prospective real estate leaders in the
internationally renowned Henley MBA is also planned.
8
11. Real estate leadership: issues and challenges
References
Morten T. Hansen, Hermina Ibarra, and Urs Peyer (2010) ‘The Best-Performing
CEOs in the World’, Harvard Business Review, January/February 2010
The authors
Andrew Baum is Professor of Land Management at the Henley Business
School, University of Reading and Honorary Professor of Real Estate
Investment at the University of Cambridge. He teaches real estate MBA
classes at several institutions and is also active in the real estate industry
as a consultant and non-executive.
John Ratcliffe is President of The Futures Academy, a Strategic Foresight
Consultancy, advising organisations in both the public and private sectors
of governance and business.
Ana Silva is former marketing director at Cushman &Wakefield, Spain
and Portugal, and holds an MBA from the Henley Business School.
We are grateful to SEGRO plc and EPRA
for providing support for this research.
9
12. Real estate leadership
For more information, please contact:
Executive Education
Henley Business School
Greenlands Sponsored by:
Henley-on-Thames
Oxfordshire, RG9 3AU
exec@henley.com
Tel +44 (0)1491 418 767
www.henley.com
B04438 10/11