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While doing some keyword research I came across a question posted by someone asking 'why must we have credit scores to determine trustworthiness'.

This person stated that they were in there late 20's and had made it all the way up and through grad school without taking any loans. Further stated was that they had worked their tail end off while attending school in order not to owe anyone money so they could graduate free and clear. As a result they didn't have a credit history. They didn't have a credit card, had saved up for all of their purchases and had worked hard to stay out of debt.

First let me give this person a standing ovation. This person will probably join the ranks of the wealthy before too long. Few people today approach their financial health in this manner. As a mortgage loan officer, I have seen so many people whose credit scores are low because they were unable to repay their student loans in a timely manner after graduation.

To answer this question we have to consider that few people are able to save up to make a large purchase like a home and therefore a need for a credit rating system.

Years and years ago if someone wanted to borrow money they would go to the local bank to get a loan. The banker was a part of the same community and would make loans based on knowing the person or their father or grandfather. The banker would know the background and character of the family. There was no need for a way to rate someone's credit worthiness because they knew the person and their ancestry.

As we have evolved into a more global world we deal with people everyday that we don't know and have never even met before. And in the case of getting a mortgage, the underwriter who makes the final decision about the loan will probably never meet, or even speak with, the borrower during the whole loan process.

With this global growth it became necessary for financial institutions to come up with a way to judge if a person was worthy. Out of this need came the score. The credit score is used almost exclusively today by credit card companies, home mortgage companies, auto loan dealers and finance companies when you apply for a loan.

With credit scores lenders can make loans without personally knowing the person or some family member. This opens up a whole new world to the borrower for a source of loans.

The advantage is that the borrower can shop for better rates and get larger loan amounts and usually get their loan faster. The disadvantage is that the scoring models are proprietary and therefore you don't really know how your score is calculated. And if you happen to be one of those people who has had something happen financially in your past that brought down your scores, the bureaus won't offer a lot to help you get them back in good standing. In addition, there are a large percentage of errors in people's reports and the credit bureaus take no responsibility for making your life miserable as a result of errors caused by them or by your creditors.

The author is a mortgage loan officer and understands the need for a good credit rating if you ever plan to purchase anything on credit.

If you would like more information on credit scores and how to improve or raise your credit score visit: Improve Credit Score.

If you already have a good credit rating and are thinking about purchasing a new home or refinancing an existing home and would like some mortgage tips then visit: New Mortgage Loans and Refinance Mortgage Loan Tips.

The vast percentage of all business startups and entrepreneurs fail.

Of the few who survive long enough to become successful, less than a quarter of them make a successful transition to the second generation.

As CEO of The Working Persons Store, Eric Deniger is doing just that. Eric's leadership style illustrates what's critical in a 21st century business leader who is also a second-generation success story.

The Working Persons Store was established in 1995 with the sole mission of serving working people with a broad selection of work clothing, footwear, safety gear and accessories.

Customers can purchase items at its flagship store in Lakeville, Indiana, its Industrial Shoe Mobile Division that visits area workplaces, and through its award-winning website located at workingperson.com.

Steve Antisdel, COO, characterizes Deniger as, "a strong leader that's created a culture of performance at The Working Persons Store." He further adds that Eric balances his staffs accountability in providing superior customer service with "genuine personal concern for the entire staff". They come to him because they know he cares."

"In the 21st Century, more and more organizational leaders have come to understand that happy, respected employees, empowered by their managers to meet and exceed customer expectations, provide the best service and feel more personally fulfilled by their work," comments Henry Barbey, director of the Center for Coaching and co-founder of Strategic Conversations".

In fact, Deniger remembered to thank his staff when his Michigan-based e-commerce division was honored as one of the "Michigan 50 Companies to Watch."

At the awards program, Deniger stated, "This is an honor Im proud to share with every member of our team. They did a great job of providing truly outstanding customer service, while helping us grow our e-commerce business by nearly 500% in 2005."

The "Michigan 50 Companies to Watch" competition is geared toward recognizing second-stage companies. Criteria for judging are in part based on exceptional entrepreneurial leadership leading to growth.

When it comes to daily decision-making, Denigers approach is to "give everybody a voice."

Bypassing formal meetings, he receives input from everyone involved, and then incorporates the common threads into the companys action plan.

"Listening, really focusing on employee input by giving the staff member your full attention when you ask an employee for his or her thoughts regarding an issue, summarizing what you think that person said to make sure that you have accurate information, thanking the person and incorporating the feedback into your decision-making will make the employee understand his or her value to you and the organization," notes Barbey. "This process exemplifies a Strategic Conversation and Deniger naturally uses this tool every day."

And as far as strategic planning goes, its a corporate version of natural selection theory. Says Deniger, "The single source of our success in my opinion, [has been] maintaining our DNA and purging that which does not fit," and, "One day you dont wake up and decide that youre going to have a good company. You have a good company from the beginning."

Since everyone is cross-trained, Deniger welcomes employees to switch jobs if they are not happy. He not only believes his employees should come to work feeling comfortable about who they are going to see and what they are going to do, but he backs it up in action.

As the number of staff continues to rapidly multiply as it did a year ago (from 8 to 60), Deniger is confident the corporate culture will be maintained.

Speaking from his personal experience with fast employee growth thus far, he shares the companys success: "We foster our DNA and we mentor our DNA. We cultivate it, we protect it, and it has prevailed. And I feel confident that we'll be able to scale it 80 to 100 people this fall and be in good stead."

So where does a leader like Deniger turn to for advice? It seems his most trusted source is his father, The Working Persons Store founder, Dennis Deniger, whom he listens to carefully.

And he also listens to what his partners at North Main Ventures have to say. "They've been there [developing an Internet presence and retail sales space]; they're willing to take the risk."

Deniger hastens to point out that in matters of business, "It doesn't matter whos wrong or right. What matters is what is right."

As is the case with many 21st century business leaders, Denigers biggest challenge today is implementing better technology, so his employees need to not work as hard. "We need to work smarter. And thats our number one objective right now."

A close look at Deniger reveals he has stepped away from the non-personal, results-at-any-cost business attitudes of past company leaders. His leadership style is a perfect example of the right mix for a 21st century business leader.

He is personal and accessible, and he cares about his staff. He gives his employees a voice, guides the work culture to respect the foundation that has brought success in the past, focuses on working smarter not harder - striving to utilize the best technology and staff knowledge available to The Working Persons Store.

The success of his leadership style speaks for itself. By 2005, the company had 10 years of unbroken growth with an average of about 20 percent growth annually. And the future promises to be rosy as well!

Wayne Messick wants to interview business owners positioning themselves for success in the 21st Century. To be interviewed visit http://www.ibizresources.com/submit_profile.html And for cutting edge leadership strategies for your business visit http://www.ibizresources.com/doright.htm where you can also read the full story of companies like The Working Person Store.