At 39 years of age I came into an unexpected inheritance. Not having experienced disposable income before I wanted to invest it wisely. I want to be able to enjoy this myself without jeopardising any inheritance that I could pass on to my own children. However, as soon as the news of my good fortune was out, advice came flooding in.
Put it in the bank, buy stocks and shares, set up a business as well as the sillier ones of putting it under the mattress! I took some time out to think about it and also to think about what i wanted to do with it.
I wanted an investment that I could see dividends from now rather than waiting for retirement. I decided, along with 50% of the UK's homeowners, to invest in property instead of pensions. Property investment seemed like a good idea but with the security of banks looking rather precarious, mortgage rates rising again and the property market being unstable, I was unsure where to turn. Some research was in order.
I considered overseas investment properties. Rental rates were good. I could rent out a beach front apartment in the Caribbean and treat myself to regular diving holidays with the added benefit of income from renting out for the rest of the year. Or a property near the Black Sea. A beautiful up and coming holiday destination but people are still nervous because of the regions history.
I could keep back some of my inheritance and invest in a condo hotel in the US. This involved buying a room or a suite within a hotel and paying the hotel management to rent it out for me when I wasn't using it.
If I wanted to stay nearer home I could buy land in the UK but with planning permission and councils being notoriously difficult was there the possiblity that I may just end up with a stretch of the next motorway running through my land, or worse still, losing it to compulsory purchase?
Not so keen on these last two ideas. I wanted to see, in bricks and mortar, what I was getting.
Being a rather distrusting person, I decided not to invest in an overseas property although I was reassured it was safe. Various locations in the UK come and go when it comes to investment trends. Except one. London - the financial capital of the world. It made sense.
City highfliers are in line for Christmas bonuses this year set to top 9 pounds billion. Thats a 15% increase on last year. Salaries of city workers are now, on average, 90,000 pounds with the rest of the country on 25,000. pounds Plenty of disposable income there!
Apparently, flats overlooking the Thames are now going for half a million and property values have risen at a rate of 20% this year in comparison with 8% for the rest of the country.
So, thats where I'm going for property investment. A nice little flat, overlooking the Thames, let to a City worker who's main home is in the country. That leaves me with a steady income for as long as I need it and either a home in an affluent area at the end of it or a property to sell to leave my children with a comfortable inheritance.
Children In The Future
The four functions of management, planning, organizing,leading and controlling, have for years been the cornerstone of howorganizations operate. Global and technology changes to name a few have changedthe way organizations manage. In the future, rapid changes in technology andthe expansion of the global community will continue to have a profound impacton how organizations are managed. In this paper I will discuss the fourfunctions of management and how they will need to be adapted to the future.
In his book Management: Theory, Application and Practice,Gary Dessler defines planning as ?setting goals and deciding on courses ofaction?. In setting these goals, managers of the future will have many thingsto consider. One thing they will have to consider is the fast pace at whichtechnology is changing. In order to be competitive, organizations will have toknow how to take advantage of and optimize technology in their business.Another thing organizations will have to consider in planning is the changingface of their customers. With the internet, businesses have the opportunity toreach millions more customer than before. In addition to technology andglobalism, the face of America is changing as well. Just recently it has beenreported that Hispanics have surpassed Blacks as the nation's largest minority.It is apparent from this trend that the successful organizations will be theones who are able capitalize on diversity. Diverse organizations will be ableto attract and retain the best employees, clients and suppliers. This equationequals a successful business and a good corporate citizen.
The function of organizing will also see changes in thefuture. The traditional organizational structures will need to be adapted tothe new strategic plan to take advantage of technology, the world market anddiversity. Management will have to decide how to best incorporate these intheir organizational structure. Regions, divisions, cost centers, etc. willneed to be structured so as to maximize efficiency while working to achieve thegoals of the organization. One thing management will have to do is to make surethey are structured to take advantage of the internet. Even the small Mom andPop shop on the corner will have to have internet presences if they are goingto be competitive and successful. Organizations will also have to developcreative ways to capitalize on their people. Correctly utilizing human capitalwill play a large role in how successful businesses of the future are.
In my opinion, the leadership function will be the mostimportant management function for successful organizations of the future. Asorganizations change, it is the leaders who will pave the way. Their attitudeand influence will be the difference between success and failure. Taborda explainsthat the leader's role has become more complex and ambiguous. The people in anorganization must stay motivated, be developed and have a willingness to learn.Developing leadership skills to accomplish this will require commitment andinvestment from management, but will result in organizational success byfostering teamwork and empowerment.
The final function of management, control is the process ofsetting targets, measuring performance and taking corrective action. In thefuture, traditional methods of control of will continue to give way to moreemployee empowerment so as not to provide a distraction. Taborda put it thisway: ?The role of the manager is now to be a facilitator and coach, not acontroller or inspector?. This means that the days of the supervisor lookingover his employees? shoulder are over. The rapid pace of business todayrequires employees to be trained and developed to make decisions on their own.With this empowerment, management must ensure that the employees are held to accountabilitystandards that will contribute to the success of the organization.
In conclusion, though there are many management theories andtheories on what organizations need to do to be successful, the bottom line isthat the successful businesses of the future will have the foresight and visionto adapt the management functions of planning, organizing, leading andcontrolling to new technology and globalism in order to compete and besuccessful.
Both Shaun Parker & Tom are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Shaun Parker has sinced written about articles on various topics from Online Marketing, Auto Insurance and Wedding Bells. Investment expert Shaun Parker looks into the choices for property investment in and around the UK. To find out more please visit. Shaun Parker's top article generates over 246000 views. Bookmark Shaun Parker to your Favourites.
Tom has sinced written about articles on various topics from Education, Financial Planning and Types of Cancer. Tom Feinberg has spent more than 15 years working as a professor at Maine University. Now he spends most of his time with his family and shares his experience about thesis. Tom's top article generates over 6600 views. Bookmark Tom to your Favourites.
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