How to Handle a Bad Boss

It happened again. Maybe the boss broke his or her word, bad-mouthed you, or torpedoed your promotion. You're not surprised. Your boss already ignores your ideas, talks down to you, and expects you to be a mind-reader. And that doesn't even count the eavesdropping. What's worse, your boss won't talk about it with you, telling you to "move on." as iff nothing ever happened. O.K., you've been saddled with a bad boss.

Having to answer to a boss is a fact of working life. But what are your options when you're undermined by the person whose goodwill you need? Sure, you can lash out or call human resources. Unfortunately, companies are like Vegas casinos: The house always wins. Still, you have options. When the anger starts to boil, consider the following:

Don't Act Immediately

Initially, you'll want to fight back. You may fantasize about writing a blistering critique of your rotten boss and e-mailing it to the CEO. And those thoughts aren't necessarily harmful. But thoughts don't have to lead to action. Sure, your boss may be small-minded, two-faced, spineless, and technically inept. But would a dramatic gesture be worth the lost salary? Is it worth a hole in your resume, the one you'll be explaining for years to come? This isn't the economy to choose pride over practicality.

Play the Game

You were cheated or unfairly smeared. Welcome to the real world. But don't let it turn you sour or sloppy. And don't let your boss get to you, either. Nod and smile when he delivers another self-serving sermon. Maintain a can-do attitude, like you have your dream job. Respect and defer, even when trust is lost. You'll work with plenty of jerks over your career. You may as well start practicing now.

Prepare

Start collecting references and recommendation letters from clients, peers, industry pros, and local leaders. Keep a file of positive citations to your work too. Even more, focus on activities that position you to lead and produce measurable results. No one can take those experiences away from you. And they'll enhance your credibility when the next opportunity arises.

Forge Alliances

Identify the job you eventually want. Get to know the players in that department. Grab lunch with them. Help them out during downtime to prove yourself. Build a relationship with a mentor or your boss's own boss, too. They can provide direction, intelligence, and even a reference. Beyond that, get involved in corporate initiatives, such as community outreach or strategic planning. Your boss has the power and network to blackball you. Stay visible and broaden your circle to counter that.

Don't Jump to Conclusions

Sometimes, there is more going on than meets the eye. The higher-ups may veto your boss's efforts. Conditions change or extenuating circumstances emerge. Your boss probably has a full plate -- and you may not be his or her top priority. And your boss may simply be unaware of his or her behavior and its impact on you. Bottom line: Management is often grueling and thankless. We all need someone to blame, but give your boss a little empathy. Don't mistake the person for the perception. They're usually far more complex than your caricature.

Keep Your Boss in the Loop

Everyone likes to feel like an expert and give back. Your boss is no different. Maybe you need to reel yourr boss closer, rather than pushing him or her away. Ask what traits or skills you need to develop to reach the next level. Ask for specifics; look at establishing benchmarks to measure your growth. What's more, become a true partner with your boss. You know your boss's flaws: Train yourself to ask the right questions, clarify, and work through the details. This is perfect training for what's really important in business: anticipation, flexibility, relationship-building, collaboration, and execution (not to mention making your boss look good).

Focus on the Big Picture

Your boss will betray your trust, then tell you to stay positive. Your boss will chastise you for your behavior, then act the same way. Sure, you can quit, but have you gained anything besides an ulcer? Instead, make the most of your time. Focus on gaining the right experience, building your interpersonal skills, and policing your attitude. They are your ticket out. Absorb those daily humiliations, so you never become like your boss. Most important, don't write off the message because of the messenger. Your boss didn't reach this level by accident. Be open to criticisms and suggestions. You'll likely miss some valuable nuggets if you completely tune out your boss.

Wait

If your boss really is a jerk, chances are the clock is ticking on him or her. Charm, connections, and reputation only give bosses so much rope. They'll inevitably drop their guard and slip up with someone higher up -- and it won't be pretty. In the meantime, view your job as a means to an end and start laying the groundwork to get there. You have bigger things ahead of you.

Interesting trading facts on the ZSE

We all saw it coming but the big question was when will activity return to the local bourse? With trade having resumed on Thursday after the intervention on the new minister of finance and having agreed to the following with the ZSE Committee:

(1) TARIFFS

Purchases: Brokerage 2% (Committee wanted 1% but the Minister wanted 2% to boost VAT)

: Stamp Duty 0.5%

: VAT 15% of brokerage

Analysts say that to boost tax revenue, it would have been more efficient to raise the stamp duty to over 0.65% and reduce the brokerage to 1%.

Sales : Brokerage 2%

: VAT 15% of brokerage

(2) FUNGIBILITY

Fungibility restored for all dual listed companies. The RBZ will be advised of the change.

(3) ASSET MANAGEMENT COMPANIES

ZSE Committee suggested that asset managers be brought under SEC so as to share burden with them in funding SEC and in line with international practice. The RBZ will be advised of the change.

. The question now is will the shares find buyers’ considering the market seems all but a seller’s market with only Apex trading on the opening day at US1c.The other question that is still to be answered could the valuation of some counters on the bourse while the other would be also the issue of liquidity to support trade.
While these may sound to some as petty they remain concerns of some investors because some investors had traded their forex for local currency to buy stock ,let’s say US$2000 but when trade resumed the value of the stock is now at less than US$300 that’s a loss of US§1700 with no trade taking place at all.
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2009 Budget Proposals

Reduce inflation to 2 digit figure and realise Economic Growth of 2% in 2009

Rather ambiguous given the degree of collapse of the economy and work needs to be done
Total Revenue to be estimated at 30% of GDP(US$5.5billion)

US$1.7 billion

Dual currency (use of multiple foreign currency alongside the ZWD)

ZWD Revaluation

CSO adoption of US$ Statistics in Inflation calculations

Dollarization has been formalised

A stop on the Quasi fiscal expenditures

Help to rein inflation, however policy consistence remains to be seen

Remuneration of Public Servants in Foreign currency starting February 2009

Voucher (problem in determining consumption pattern of consumers)

Move away from Voucher system if inflows permit

Allows the private sector to follow suit

Exchange is expected to be market determined

Complimenting fiscal policy

Insurance

Given licences to charge in foreign currency

7.5% of US$ assets in PA (long term insurance)
5% of US$ assets in PA( short term insurance)
10% of US$ assets in PA( pension funds)

Local currency

Ratios of 35%,30% and 25% remain in place

High appetite for US$ PA paper

Cash rich

ZSE Trading

Measures to be put in place soon to trade in foreign currency
Activity likely to be depressed as national savings level still depressed

Local Authorities to charge in Foreign currency

NOCZIM

ZESA

US$0.098kWh
Farmers , pay 80% of the tariff

ZINWA

Management of water to local authorities (1 Feb 2009)
Effective and possible efficiency to be realised

As we await the budget

ON Thursday, like most Zimbabweans, my eyes will be glued on the TV to find out what the acting Finance Minister Patrick Chinamasa have in store for us in his 2009 National Budget.
Both business and ordinary people have expectations but these will mainly depend on whether dollarization will come as part of his announcements of the day.
The major expectation is of the currency.
Like many I would argue that business will only make sense using a currency which is not the local dollar be it for investment or for transacting.
As we all know the ZSE has joined a growing list of institutions that have requested to transact in foreign currency among others such as Asset Managers, schools, farmers, the list is endless.
Listed companies have even gone as far as seeking approval from the ZSE to present their results in US dollars while some like Falgold had seen the light and implemented it. However, like I said this will all be determined on Thursday.

Still no end in sight for the ZSE

As the month comes to an end in the coming week we still find ourselves with no investment options available most investors. We ZSE still caught up in its stalemate investors like you and me will have to continue to count our losses especially when it comes to the value of our shares on the non trading bourse.

Like all investors i cannot wait for trade to resume but the biggest question i find myself with is in what form trade will come back in.

M&F heads for loss

Mutual & Federal's profit warning on Thursday was the latest example of how International Financial Reporting Standards (IFRS) have scrambled insurance accounting.

The trading update says headline earnings will be down by 100%-120% - in other words a loss is in prospect for the year to December.