The following Dilbert cartoon rings true - click here.
Sadly, I've seen this attitude in many companies, especially a couple of large mutli-nationals I used to work for. Managers were perpetually late to team meetings. As the Dilbert cartoon suggests, this really shows a lack of respect for your subordinates, the message being that their time is not valuable.
As a manager, you should be competent at organising your time. Make the effort to be punctual with your staff - they will appreciate the respect.
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