seniority

Examples of seniority in the following topics:

• Corporate Bonds

  • Senior debt, frequently issued in the form of senior notes and sometimes referred to as senior loans, is debt that takes priority over unsecured or junior debt owed by the issuer.
  • Senior debt has seniority over subordinated debt in the issuer's capital structure.
  • In the event of bankruptcy or liquidation, senior debt must be repaid before any other creditors receive payment.
  • Senior debt is often secured by collateral on which the lender has placed a first lien, which typically covers all the assets of a corporation and is frequently used in the resolution of credit lines.
  • Subordinated debt has a lower priority than the issuer's other bonds and ranks below the liquidator, government tax authorities, and senior debt holders in the hierarchy of creditors.

• Promotions

  • In many companies and public service organizations, more senior positions have a different title: an analyst who is promoted becomes a principal analyst, an economist becomes a senior economist, and an associate professor becomes a full professor.
  • In other industries, especially in private sector companies, a promotion to senior management may carry a number of benefits, such as stock options, a reserved parking space, a corner office with a secretary, and bonus pay for good performance.
  • For example, a policy analyst in the federal government who is promoted to the post of senior policy analyst will continue to do similar tasks such as writing briefing notes and carrying out policy research.
  • For example, whereas a staff engineer in a civil engineering firm will spend their time doing engineering inspections and working with blueprints, a senior engineer may spend most of their day in meetings with senior managers and reading financial reports.
  • In some parts of the private sector, the senior management has a very high level of discretion to award promotions.

• Decentralization

  • Decentralization is the policy of delegating decision-making authority down to the lower levels in an organization, away from senior management and more broadly across the organization.
  • One of the major advantages of this type of management structure, assuming the correct controls are in place, is the bottom-to-top flow of information, allowing the decisions made by the senior management to be better informed about what is happening in the lower tier operations.
  • For example, if an experienced technician at the bottom of an organization discovers how to potentially increase the efficiency of production, the bottom-to-top flow of information can allow this knowledge to more easily be passed back up to senior management.

• Benefits of a Small Organization

  • Stolze helped start RF Communications in 1961 in Rochester, New York, three of the founders came from the huge corporation General Dynamics, where they held senior marketing and engineering positions.
  • The senior engineers were no longer supervisors; instead, they were designing products.
  • In particular, startups benefit from having senior partners or managers working on tasks below their highest skill level.
  • Stolze helped start RF Communications in 1961 in Rochester, New York, three of the founders came from the huge corporation General Dynamics, where they held senior marketing and engineering positions.
  • The senior engineers were no longer supervisors; instead, they were designing products.

• Inadequate or incorrect marketing, cooperation, finance, or HR strategies

  • A second group that can hinder growth is cooperation strategies, such as when a start-up becomes overly dependent on a more established company as a senior partner, for example, when a small biotech firm depends on a large pharmaceutical company to market its products.
  • If larger established companies really commit themselves to their junior partners and are successful, then cooperation often ends up with the senior partner taking over the start-up.
  • This only ensures the growth of the senior partner.
  • However, what is much more common is opportunistic behavior by the senior partner, where it is paid well by the junior partner for its marketing activities, but then it does not in fact aggressively market the junior partner's products.
  • It can be of great value to acquire more senior managers who enjoy the new challenge of working for a start-up before they retire.

• Fringe Benefits

  • Examples of fringe benefits, depending on employee seniority and job requirement, are take-home vehicles, hotel stays, and first choice of such things as job assignments and vacation scheduling, as well as first option to apply to certain internal vacancies.
  • Perks are often given to employees who are doing notably well or have seniority.

• Marketing Information Systems

  • Marketing intelligence is the province of entrepreneurs and senior managers within an agribusiness.

• Definition of Management

  • There is a hierarchy of employees, low level management, mid-level management, and senior management.

• The Role of Financial Managers

  • Financial managers perform data analysis and advise senior managers on profit-maximizing ideas.
  • Financial managers' main responsibility used to be monitoring a company's finances, but they now do more data analysis and advise senior managers on ideas to maximize profits.

• Executive Compensation

  • For example, while in conservative Japan a senior executive has few alternatives to his current employer, in the United States it is acceptable and even admirable for a senior executive to jump to a competitor, to a private equity firm, or to a private equity portfolio company.