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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1463 |
Essay's paper body
Personnel hired should have had proper training or prior experience in the trading market in order to facilitate a superior understanding of the local operation.
Barings adopted a matrix management structure, which had Leeson nominally reporting through different management lines and this resulted in the responsibility for overseeing his activities becoming ambiguous and ultimately ineffective in practice...
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With hindsight it appeared that there was no single person within Barings that carried ultimate responsibility for supervising Leeson and monitoring his activities in Singapore. (Reserve bank of Australia bulletin, 1995)
Leeson stated that these bosses never took the time to understand the new markets in which he was embroiled and failed to fulfill their duty of care to him...
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