Let Your Employees Make DecisionsWritten by Jason Liptow
Let Your Employees Make Decisions
One of best managers I ever had taught me a very valuable lesson about management. She was a manager at first bank I worked at. I was a supervisor of all of bank tellers. She delegated decision-making powers to all of her staff. Of course, level of decision-making was different for different levels of workers. In other words, assistant managers had ability to make decisions on more important matters than did supervisors and supervisors had more leeway than did tellers. It was one of most important lessons I learned about managing. The idea of giving decision-making powers to a staff is very scary for many managers. They are either afraid to give up power or they are afraid of mistakes being made. But giving power to make decisions to your staff shows that you have trust in them. I am not advocating that every staff member have "power" to make every decision across board. Obviously, not every worker is capable of making every decision. Another thing to consider is that managers are usually in position they are in because they possess strong decision-making skills. But it is important to allow all workers to make some decisions. Here are some things to consider when allocating decision-making powers to your staff. 1. Evaluate each worker and allocate decision-making powers based on their position. In my situation, bank tellers did not have same level of authority for making decisions as did managers and supervisors. You still have to maintain separation of powers in order to maintain hierarchy within organization or business. 2. Inform each worker of level of decision-making that they possess. Make it clear what they can and cannot do in relations to making decisions. For example, bank tellers had authority to cash checks for customers up to a certain level of money without having to have a supervisor's permission or approval. Supervisors had a much higher threshold and so on. You do not want bank tellers approving transactions for tens of thousands of dollars without their supervisor's approval. 3. Remember that you, as manager, are still responsible for workers decisions. Do not let them hang out to dry if they make a decision and it is wrong. You must accept accountability for their decision as long as they followed guidelines that you implemented for them. My manager always told her supervisors and assistant managers that we had authority to make decisions and she would stand behind us on any of them as long as we could show why we made that decision and basis for it.
Making Money ..... Understanding the Stock Market & Why Stocks Go UPWritten by Larry Connors
In stock market it's not unsual to see a stock go up more than 15% in less than 5 minutes on a good momentum day. It could seem that making money in market is just a matter of buying one of those fast moving stocks and riding them for profits. In a way it is, but there is more to it.
The problem is, that if you don't know what stocks to look for and how to properly approach them and simply leave everyting to luck, you could end up wasting money instead of making your profits grow.
That's why most important aspect of momentum trading is knowledge FILTER you employ to make your buy and sell decisions.
There are many "fantastic" stock systems and trading strategies outhere, but you need to test them in order to discover which ones help you most. That's part of your homework as a stocktrader. Test, test and test again.
Complicated stock trading strategies that rely on a "boat load" of technical analysis indicators can make you slow, and being slow when trading hot momentum stocks can be as dangerous as not knowing what to do in first place.