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Ray Dalio

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Ray Dalio, voted as one of the most influential people in the world by Times Magazine , suggests that the world’s economy is like a machine: although it may seem complex, it works in a simple and mechanical way. Now and then this machine will break down and will not function as other may want it to. This would mean the economy is having a significant decrease in the economic activity, or a recession. Other times, this machine will work as if it were brand new. This translated into the economy being progressive and advancing, in other words, there is an economic boom. Depending on whether or not a company boss is dealing with a declining economy or a booming one has an effect on their careers and their managerial styles. Career-wise, company …show more content…

This allows the society to come out with new technologies, better medication and allows the society to continuously improve. They, however, do accumulate more expenses and earn tend to earn less in profits than their counterparts. Managers and CEOs in an economic boom actually have more debt and are worse off at paying interest on their debts, by 1% and 8% respectively. The skills each manager and CEOs receives when dealing with a bad or good economy differ. In a recession, leaders will gain valuable skills such as cost cutting and dealing with financial constraints. In a progressive economy, leaders obtain valuable communication and interpersonal skills and are more willing to take risks to grow. To conclude, company bosses who learn and develop during an economic slump tend to stay within their firms and have a conservative managerial style. On the other hand, company bosses who learn and develop during an economic boom tend to move across firms and have a non-traditional management style. The truth is, neither is more successful than the other and the marketplace needs leaders who have an upbringing in both a falling and rising economy. Having both types of leaders create a diverse job marketplace, with each having specific skill sets that are helpful to businesses when the economy experiences

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