Shared leadership is a reflection of the fact that ________
A) in reality, leaders typically function in isolation from followers
B) it is only the top-level leaders who face adaptive challenges
C) leadership involves competent, charismatic individuals making their subordinates work to reach the results
D) leadership skills can be found only in few people at the very top of organizations or society
E) leadership is a collective, group process, and more than merely the behavior of one person
E
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At a meeting between a portfolio manager and a prospective client, the portfolio manager stated that her firm's bond investment strategy is a conservative one
The portfolio manager told the prospective client that she constructs a portfolio with a forward-looking tracking error that is typically between 250 and 300 basis points of a client-specified bond index. Explain why you agree or disagree with the portfolio manager's statement that the portfolio strategy is a conservative one.