...The role of the financial manager has in maximizing shareholders value is key to the achieving the goals of the shareholders. The financial manager performs double duty working toward achieving profits for the company and optimizing the shareholders value. The flexibility of having the ability to hear viewpoints from different angles to achieve the goals of both the shareholders and the company’s manager. Today’s financial manager must have the skills and strength to evaluate and assess risks to help their company maintain a competitive edge. The responsible of the financial manager in maximizing shareholders and use real-time financial information to take advantage of the latest opportunity to capitalize on an investment. According to the text the financial managers works to achieve the goals of shareholders because shareholders are the owners of the company that employs the financial manager. This can give rise to conflict when a manager makes decision because of the needed to make decisions based on shareholders approval and what is best for the company ongoing success. Sometimes the goals of shareholders can tempt the financial manager to make unethical decision in managers attempt to maximize the goals of the shareholder value. Other times companies will have a disregard of shareholders values and not only disregard reducing expenses but foster an environment where financial abuse takes place from renting luxury cars to doing business at the most expensive...
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...The Changing Role of the Relationship Manager The relationship between wealth managers and their clients is not what it used to be. Public opinion of the financial sector, as a whole, has become sharply critical—people are outraged by the inability of the industry. Clients have become far less trusting and increasingly likely to jump to another wealth manager. But the relationship between RMs and their clients has actually changed well before the onset of crisis. Rise of the Product-Push Model before a Crisis At many wealth-management institutions, particularly the larger ones, the continuity of client relationships has— over time—been disrupted by organizational changes and the shuffling of client portfolios among RMs. In some cases, the goal was to bind the client more to the institution than to an individual advisor. In other cases, however, the institution itself simply could not maintain a consistent service model. At the same time, investors became more interested in diversifying their wealth across institutions. And as information about financial products became more accessible, some investors became self-directed. They tended to be less interested in holistic planning and more interested in specific types of support or investment recommendations. The role of the RM has also changed. Since the beginning of the decade, the RM has become less of a confidant and more of a salesperson. This shift was most apparent in the brokerage model, where RMs began providing targeted...
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...The Role of the Manager When the economy fell to its worse several years ago, businesses tried to minimize their loss by cutting expense. Many businesses were downsized, causing the remaining employees to have more workloads. Many others replaced their workers with technology to reduce the need for manual labour and costs. However, no longer is job security a major concern, but rather it is getting most out of the workforce by establishing empowered teams. The traditional role of the manager can be described as very strict. Their job is to give out orders and expect them to be done the right way. If not done correctly, managers are to hold people accountable and discipline them. Should a decision be made, managers will be the one to make it. The practice of creating “empowered teams” is becoming more popular in the workplace. No longer is job security a major concern, but rather getting most out of the workforce by establishing empowered teams. Empowered teams are typically broken down into three kinds: (1) quality circles—groups of employees who focus specifically on quality problems in delivery of the products or services; (2) Total Quality Service (TQS) teams—groups of employees who focus on business activities as a set of processes that can be improved and (3) self-directed teams—groups of employees who manage themselves and assume responsibility. Each type of team involves change in the traditional perception of the manager who should be left with the decision-making...
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...The role of a manager within the functional areas of business Amir Yousef MGT/521 December 8, 2014 The University of Phoenix Abstract “When a business has implemented a successful planning process, every employee can see a clear link between the overarching company direction and the work they perform.” (Capezio, P. J.) The role of a manager within the functional areas of business Introduction “When a business has implemented a successful planning process, every employee can see a clear link between the overarching company direction and the work they perform.” (Capezio, P. J.) According to Robbins and Coulter study (2012), the management concept can be defined as an individual who coordinates and oversees the work of other people so that organizational goals can be accomplished in an efficiently and effectively manner. This efficient and effective aspect of the managerial process requires that managers are doing the right thing in the right way (Robbins and Coulter, 2012). So the role of manger is to help others doing their work. However, the managerial part of the management process is addressing Mintzberg’s theory, which explains what managers do at work through specific actions. A manger should be capable of performing all facets of the managerial functions of planning, organizing, leading and controlling in any organization (Robbins and Coulter, 2012). A Functional Manager is in charge of a specific business unit. direct, technical supervisor Here...
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...The Role of a Manager The Role of a Manager Managing a company or employees is a very broad responsibility. Not only does the style of management effect the employees it also effects the business. As long as the employees are well taken care of and are comfortable with the type of management the business should be within good standing. Managers have many responsibilities which may include things like organizing, leading and communicating (Introduction to Management, Editorial Board 2015) The Functional Manager A functional manager is somewhat of a guide or someone who will heard the employees in the right direction making sure that the daily tasks are complete. Functional managers are responsible for a certain section within the business and are following direction from the general manager. General manager has more things to deal with and the functional manager is there to help take some of the workload off of the General manager. The General Manager General Managers are responsible for everything that goes on in the functional areas. Leading, controlling, planning, organizing and providing the help and resources if needed is really important for the general managers to do to be able to have a successful company and team. Being open minded and allowing others to communicate their ideas are great ways that a manager can improve his or her business. Having structure allows the business to be well organized and the work flow is a lot smoother and the ultimate goal of the...
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...Roles and Function of a Health Care Manager Kisha Gravely University of Phoenix Roles and Functions of a Health Care Manager Health care managers today have a vast range of setting to choose from. Each setting will have different roles and functions. Yet every manager, no matter what level, title, type or setting, is required to follow the four main functions. In this paper you will learn the four functions and which function I feel is most important for a health care manager and what I think is the most significant aspect related to health care management that I would like to gain by taking this course. The main functions of a health care manager consist of organizing, planning, controlling, and leading. Organizing is the “management function that involves the process of determining what tasks are to be done. Who is to do them, how the task are to be grouped, who reports to whom, and where decisions are to be made”. Planning is establishing objectives for performance and deciding what needs to be done in order to effectively accomplish them. The controlling function is the method which matches results to objectives, assessing work performance, and taking the remedial action when it is needed. The last of the four functions is leading. Leading is being able to make employees enthusiastic and work much harder to achieve objectives and execute plans. In my opinion all four functions are extremely important. Yet, if I had to choose one, it would have to be planning. Planning...
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...Roles of a Manager within the Functional Areas of Business Charmaine R Searight MGT/521 Sep 29, 2014 Walter Goodwyn Roles of a Manager within the Functional Areas of Business The functional areas of an organization coincide with each other to provide the necessary information to increase growth and provide the advantages needed to compete in the industry. According to Henry Mintzberg, a well-known management researcher, managerial roles include interpersonal (manage people), informational (manage information), and decisional (manage decisions). Managers use these roles to effectively and efficiently plan, organize, lead, and control the organization. Understanding management and the role it plays in the functional areas of the organization is vital to its growth and success. Management “Management involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively” (Stephen & Coulter, 2012). In other words, managers are needed in the organization to get things done. Their skills and abilities ensure goals are established, structured, and evaluated. Managers are in place to motivate employees to meet goals and provide incentives to accomplish and even exceed goals. Managers ensure the organization is operating efficiently and effectively. Human Resource Management “Human Resource management addresses the concepts of personnel development in a business” (University of Phoenix, 2014). This functional...
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...as well as the concepts of the hybrid manager, the managerial gap and the four remedial strategies which are: role definition, managerial selection, training and development and, monitoring and how they are relevant in real life workplace situations with references to interviews conducted with two managers in the Tesco Highams Park Superstore. The questions asked in these interviews are available in Appendix 1 and contact details for the Managers interviewed in Appendix 2. This report will also give an indication as to how some managers follow the managerial escalator to become managers in the first place, where as some managers have no need or requirement to conform to the path of the managerial escalator. This report will also explore the idea of managers becoming managerial hybrids focusing on both specialist and managerial activities in the work environment and evaluating the managerial gap of each manager which defines in detail how much time the mangers spend on managerial activities in comparison to the time they actually spend on managerial activities, and how this can cause conflict within the workplace. Main Body! Mary Parker Follet as defines management: “the art of getting things done through people” this is done through a series of managerial skills which include: delegation, leadership, managing diversity, handling conflict, counseling, discipline, chairing meetings and, negotiating. When becoming a manager there is usually an escalator type of...
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...people that work at the establishment and also the management team that takes on the day-to-day business. This team makes sure to help the business reach its goals but also help his team reach its potential. Often a business can lose when it puts the wrong management team in charge and deters the growth of the business and associates. Although a good boss and bad boss have similar characteristics, he also differs in qualities that he uses to manage his associates and his business. Large and small business’ have one thing in common, to create revenue and become successful doing it. In order for that to be accomplished, it must have a strong management force that will create a strong backbone for the business. Finding that core group of managers is harder than it sounds. To gather the right combination it may take time but will benefit the business. These individuals bring different strengths to the team and as a collaborated group will bring success to the business. Individuals have similar attributes and also have their own personalities that make them who they are. Some have qualities that they are able to pass on to others with ease and teach others some of the qualities that they possess. There are also individuals that have trouble with face-to-face interactions with associates. These individuals bring to the business other superior qualities that help the business on a logistical level. They often find themselves working independently and are at times isolated from their...
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...ROLE OF A MANAGER DESIREE JOHNSON MANAGEMENT 521 05/27/2013 DR. MARIA REGESTER ROLE OF A MANAGER A manager is defined by Merriam-Webster’s dictionary as, “a person who directs a team.” The role of a manager can be such a wide spectrum of responsibility and accountability. The manager’s role can vary per department and by company. Often time’s managers are expected to delegate tasks and duties to employees and maintain the work flow for that department. Managers can have the responsibility of verifying the quality of employee’s work, efficiency as well as attendance. A manager can be considered an employee who has had extensive experience and training of a particular task that he or she has a wealth of knowledge and techniques that can be relayed to their subordinates through constant training. The manager can be seen as a leader, motivator, confidante as well as a coach. Every manager should consider what type of work culture he or she want to cultivate and pattern his or her style as such. Their approach to the employees and how they lead and direct their subordinates will be reflected in the quality of the production and service provided to the customer. Starr, (2004) stated, “A manager needs to know when to be directive and when to be less directive” (p. 9). All employees deserve to be treated with respect and in return, the employee reciprocates the same respect. The role of a manager is not always easy as there will be occasions in which the tough decisions...
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...business manager has several different roles and responsibilities within a business. Their jobs can vary based on the size and the type of company they work for. The concept of a business manager is making sure to help by ensuring the company runs smoothly and is doing everything it can to ensure success. A manager will find him or herself wearing several different hat throughout the company and dealing in several different areas in order to function. Some of those different areas are leadership, business law, economy, operations management, marketing, finance, strategic planning and research and statistics. One might ask “how important do you feel a manager is in your company or any company you have ever worked for?” My honest response would have to be “extremely important”. The role of a manager within the functional areas of a business are many. In most if not every business it is critical to have a manager and is most essential in order for a business to run smoothly. A manger has to have a strong work ethic and the ability to be able to deal with any and all issues as they arise. Leadership A manager is expected to be a leader to ensure certain areas within the business that he is responsible for are following procedures and policies and that all work is being completed as efficiently as possible. A manager can sometimes be confused with being a leader as most people expect a manager to embody what it takes to be a leader and a good manager will. A good manager who is...
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...Role of Manager: (select any manager (marketing/general/ finance)) 1. Briefly, describe the requirements of the job. Include formal requirements (such as those that may be detailed in a position/job description), and less formal requirements (for example, particular personality characteristics you think are important). 2. Identify (list) other individuals or groups from inside and/or outside the organisation with whom you interact who are important to your job. These could include your staff (perhaps of various categories), your supervisor, peers, clients/customers, suppliers, regulators and so on. Specify THE PEOPLE, not just the organisation or department, for example, ‘Mary Ann, Human Resources Manager’, ‘Counter Staff in the Printing Department’ or ‘Receptionists, Department of Foreign Affairs’ (not just ‘Printing Department’ or ‘Department of Foreign Affairs’). 3. Briefly describe the principle characteristics of these individuals or groups, particularly those characteristics that impact on their interaction with you. If your list is lengthy, select those five or six individuals or groups who are the most important, who are critical to your ability to fulfil the requirements of your job. (This description could include such things as formal organisational position, demographics such as age or gender, personality, or pattern of interaction with you.) If you have only identified people inside your own organisation, you should briefly explain why people...
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...The role of manager Charlotte Feng A manager always refers to someone who manages or governs employees, progresses, or systems. There is a time when the job of them has always been to direct his subordinate staffs like a slave driver, to be in charge of the employees getting their job done as a watcher, or even to restrain the office workers responsible to their work, just like how policeman supervise the prisoners. Basically, managers are doing nothing, but “watching” the staffs gets developed, so the role played by manager is, it must be said, more as a ruler than as a real team leader. That’s why they have little to fear in the past times. However, things have changed a lot with the development of new working environment. The very first reason for this change is because of the joining of younger employees, who have very distinct life or work values that are totally different from their parents (slaves to their own careers). So it is obvious to see that paycheck is not the only standard for those freshmen to stick to their jobs, in fact, they are much more into jobs in which their value can be judged or recognized. All employees want to be ordered under a more supportive and caring management style, which requires new management strategies in order to prevent high turnover. So, managers should provide employees an open communication environment with information about company, allowing them make the choices or decisions themselves. Also, Giving...
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...Roles Of Managers Roles of Managers Within Functional Areas of Business All across the United States there are people starting up small businesses because they are unable to find a job that suits them. I am one of these new entrepreneurs. A dream of achieving financial success and job market uncertainty has taken me on a journey of being an event planner. My company is called Omni Events. As a business owner, I have applied the concept of the functional areas of business in my company. I had to put on many hats to keep my business functioning. As a business owner I have experience in being a leader, human resources manager, accounting manager, finance manager, marketing manager, sales manager, and strategic planner. This is the main reason why I have enrolled in the MBA program. Furthermore, I am confident it will help boost my potential of being an effective business owner. Managing The Various Departments The main objective of running any business is to provide a service or product to a particular market and make financial profit. I find satisfaction in planning everything to the last detail. That is why I chose my field carefully. It is important to do what you love and take your work seriously. As I began this journey, I started out by self-promoting my company and attempted to make sales. Marketing and sales became a natural habit in all the networking events that I attended...
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...The role of a Manager Today The role of a Manager Today Times have dramatically changed. Gone are the days where employees fear hierarchy and the belief that the employee voice is not heard. The corporate structure has become much more refined within most companies so employees are much more empowered. “Once employees in the organization are empowered by management, shared values provide the only practical way to ensure that everyone is aimed in the same direction” (Carter, 2009, Managers Empowering Employees, para. 1). Companies are typically divided into different departments including: sales, marketing, customer service/account management, human resources, accounting, and finance. Each of these areas requires a manager to oversee the success of the area. The workforce today demands a manager to have an open door policy, to listen to employee needs, and to be supportive. Open Door Policy We all want to love our job and hope we are working in the right career path. One of the most important pieces to finding love in your job is your manager. This is the person directly responsible to train us, motivate us, and reward us when we complete goals. “Consultation and communication are vital in eliciting trust and confidence and will balance the loosening up of management control by enabling employees to make a contribution in the interest of improving business performance and enhancing whatever model of trust exists” (Johnson, 2004, Flexible working: changing the...
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