Introduction To Management: Financial Aspects Essay

Question:

Discuss about the Introduction to Management for Financial Aspects.

Answer:

Introduction

Good management is one of the fundamental components that contribute to the success of organizations (Kenneth, 2014). Effective management creates directions for an organization and assists in communicating the vision internally and externally. This company has various management challenges that must be addressed for it to meet its goals and objectives.

AAT lacks competent staff. Some of the people who should undertake critical activities in the organization have no skills for some of the basic things like simple database recording and emails. Robert, the finance worker, also finds it hard to provide clear and precise answers on financial aspects. This indicates that a lot needs to be done to equip the staff members with skills that can assist them to perform well in their duties.

Another challenge facing this organization is resistance towards change. After Alex had realized that there was a need for changes to be done so as to lead the team into a more streamlined and less stressful existence, employees were very reluctant to change. Most of the staff members also resist the use of new technologies. These shows the staff members are connected to the old ways of doings things, and proper measures should be taken to help them change.

Another problem that might impact good performance in this company is lack leaders who act as role models and employees who are committed towards work. For effective leadership, managers should act as role models by doing what is right (Liz, 2012). Sally the CEO arrives late at work and is off sick at least one day each fortnight. CEO is a senior person in an organization and should always lead by example. Arriving late at work and being off sick from time to time may make the other staff members develop the same habit.

In the concepts of management, one of the key roles of managers is building and establishing a competent team of employees (Sandra, 2016). The AAT managers have not been exercising this responsibility because the company has incompetent employees. The management must ensure there is a team of employees who are skilled and are up to date with the changes that occur in their areas of specialization.

Managers have the responsibility of leading, organizing, controlling and planning (Roger, 2011). Sally the CEO and other senior people in the organization seem not to have been taking their responsibilities. Instead of acting as a role model through reporting at work on time and on a daily basis, she is always late or absent from time to me and sends a list of things that should be done and sometimes forgets to make follow ups. This is an indication of a person who does not understand the responsibilities of a manager.

Embracing the use of technology and innovation is part of managerial functions (Sandra, 2016). The management should make its employees understand the importance of information systems in an organization. The use of new technologies can assist an organization to reduce its costs and improve productivity. The issue of resisting the adaptation of new technologies may make this organization experience challenges in meeting the expectation of its clients.

There are various measures which this organization can use to solve its management challenges. One of the measures is training (Roger, 2011). The management should organize for training programs for employees who seem to indicate incompetency while performing their duties. This will assist in equipping unskilled employees with the necessary skills that can help them to accomplish their tasks.

The other way of addressing management challenges in AAT is helping all staff members to understand the importance of change. Employees may have change resistance because of various reasons like being connected the old way or fear for the unknown (Ravindra, 2014). The nature and role of work change from time to time and therefore restructuring certain aspects is necessary. The management should help the employees understand that change is both necessary and mandatory for organizations that wish to attain their goals.

For the staff members to be committed to their tasks, the CEO should lead by example. Good Leaders are those who make good things happen (Petra, 2012). One of the best strategies of doing it is giving the employees a reason to believe and follow. Sally should report at work on time and demonstrate the importance of working hard to achieve the organizational goals.

Proper management of nonprofit making organizations is the only strategy that can assist AAT to achieve its aims. This organization is faced with various challenges that are likely to prevent it from better performance. Some of these problems include lack of competency, change resistance, and lack of role models. To address these issues, the CEO, Alex and other managers should use various strategies like training the staff members, letting the employees know the importance of change and leading by example

References

Kenneth, M. B. 2014. Impact of Management Basics on Employee Engagement. Academy of Strategic Management Journal, 13(2), 90-100.

Liz. T. 2012. Managerial Perceptions of Crisis Leadership in Public and Private Organizations: An Interview Study in the United States. International Journal of Management, 29(2), 45-67.

Petra. H. 2010. The Use of Operations Management Procedures in Order to Increase Organizations Competitiveness under the Conditions of Growing Pressures of Globalization. Global Business and Management Research: An International Journal, 2(1), 56-89.

Ravindra. J. 2015. Innovation Management: Strategies, Concepts and Tools for Growth and Profit. South Asian Journal of Management, 22(3), 56-89.

Roger. D. 2011. Common Purpose: How Great Leaders Get Organizations to Achieve the Extraordinary. Naval War College Review, 62(4), 200-250.

Sandra, G. D. 2016. Accountability Reporting in Austrian Non-Profit Organizations-More than a Compliance Instrument? Public Administration Quarterly, 40(2), 90-100.

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