NDB502 The Context of Management Assignment Sample

This is the assignment sample of NDB502 The Context of Management.

In this online course, you will not only develop the basic understanding of operational features in which management operates with New Zealand but also learn about accounting and professional aspects as well.

You’ll understand how these are different depending on where you work for such a company because there is an ethical code to abide by.

Furthermore, it’s essential that cultural differences be considered when making decisions or changes at any level within your organization so all managers from different backgrounds can feel safe working together towards common goals without feeling alienated.

Assignment Solutions Of NDB502 The Context of Management

Assignment Activity 1. Apply knowledge of the principles and practices of operations to support the operational efficiency and effectiveness of the business.

Supporting the operational efficiency and effectiveness of business is a key role in any organization.

By focusing on corporate objectives; implementing IT best practices to financial services, increasing customer satisfaction, making their customers happy by eliminating missed calls (companies avoid losing money and increase sales when they decrease customer call handling time)

Achieving major cost savings in payroll expenditure among others, companies can reduce operating costs without impacting service levels which benefits employees as well as other stakeholders.

Increasing access to technology for better collaboration such as Microsoft Sharepoint will help improve the overall effectiveness of operations, timetables and schedules but importantly improve communication with all members of an organisation – leading to increased transparency.

Implementing more technology leads to more accurate information which helps people make better decisions).

Assignment Activity 2. Apply knowledge of the principles and practices of accounting to support the operational efficiency and effectiveness of the business.

Accounting and finance are two of the primary functions in businesses, accounting is considered to be “financial management.” Accounting summarizes company transactions and provides data for both management decision-making and external parties like investors.

The principles of accounting include reliability, accuracy, objectivity, cost effectiveness (show the true state of the business), continuity (accounting information must be available throughout time) and compliance with laws.

These values can impact operational efficiency, as it would not make sense to operate based on unreliable or inaccurate information which could result in costly errors later.

This strategy works better with a more objective approach towards accounting where there is clear knowledge around what constitutes accurate financial statements.

Training on how to provide efficient account records can lead to consistency and continuity of accounting information over time.

Estimated values leading to compliance with laws are necessary so that it reduces the likelihood of any legal repercussions arising out of such statements.

Accounting information is not reliable if it does not accurately reflect the company’s wealth creation capacities which in turn can create obstacles for controlling operational performance.

Assignment Activity 3. Apply professional and ethical behaviour in a socially and culturally appropriate manner.

You recognize that the levels of professionalism are culturally and socially relative.

It’s important to understand what is “socially appropriate” in other cultures or ethnic groups, even if it’s different from your own culture.

For example, while it may be considered totally acceptable for your boss to kiss you on both cheeks as a greeting when you work in France, an African-American male job applicant who does this without permission from his hiring manager risks being seen as homosexual–even though (or perhaps because) he’s showing respect to someone in authority.

Use discretion and ethical business practices when determining what is appropriate language or behavior outside your company culture.

Moreover, be aware that ethics (and legality) vary widely not just from culture to culture, but within cultures as well.

For example, in many Middle Eastern countries, it may be perfectly acceptable for you to take a bribe; however, if you do so in your home country, bribery becomes illegal.

Assignment Activity 4. Develop and maintain operational business relationships with stakeholders for efficient and effective performance of the business.

Operational business relationships are important for a company to maintain in order to operate efficiently and effectively.

A company may outline the kinds of operational business relationships it wishes to maintain with stakeholders when putting together its sustainability strategy or goals for integrating sustainability into its strategies.

Commonly, companies will decide which stakeholders they want to engage and how including.

1) Shareholders – Having good shareholder relationships is crucial in running an effective corporation. Shareholder interests must be considered at all times, because shareholders are those who own corporate assets after liabilities are paid off.

The primary regulator overseeing corporations is the federal government’s Securities Exchange Commission (SEC), which frequently updates share ownership requirements.

it can fine boards without a quender majority vote from shareholders if board members act in ways that are not aligned with shareholder interests.

2) Board of directors – A board of directors is a group elected by shareholders to oversee the corporation’s business and management, create corporate strategy, approve major decisions such as mergers and acquisitions, select senior officers (the chief executive officer and possibly other vice presidents) and monitor their performance.

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