Foundation of Management Essay Example | Topics and Well Written Essays - 2000 words

Foundation of Management - Essay Example Specifically, culture is the personality of an organization around which the whole organization revolves. Therefore, it is necessary to make a fundamental criterion and embed these core values with the individuals/employees of the organization. Without its existence, the energy of all the members will dissipate in terms of plans, decisions, and operations. Over the past decade, the concept of organizational culture has gained significant importance and acceptance. It is considered as a way to understand human systems. Each element of culture can be viewed as an environmental condition that has a great impact on the entire system and its subsystems. Increased competition, mergers, acquisitions, alliances, advancements and diversification in various workforce departments have created an urgent need for strong organizational culture (Daft, 2008). Thus, the role of culture in organizational development cannot be overlooked. An accurate understanding of organizational culture will not onl y help in directing activities towards the productive manner but it will also avoid the destructive influence of those employees who are not committed and loyal to the goals of the organization. ... For instance, if the organization’s mission is to provide excellent customer services but the employees are not empowered with the authority to carry out the required responses or results then this discrepancy will lead to a major decline in the overall performance of the company (Alvesson, 2002). In this regard, it is the premise of this paper that in order for a business organization to be successful, culture is the most important notion, and management can put efforts to foster ‘right culture’ in the organization. In order to be SUCCESSFUL, Culture is the MOST IMPORTANT thing The concept of culture is described as how employees or members of any organization understand their world and their position in it (Alvesson, 2002). There are varieties of definitions attached to the world ‘culture’, most of them are widely in acceptance and they share the same aspects. Schein's defines organizational culture as "A pattern of shared basic assumptions that the group learned as it solved its problems that has worked well enough to be considered valid and is passed on to new members as the correct way to perceive, think, and feel in relation to those problems" (Schein, pp. 30-39, 2010). In simpler terms, organizational culture includes a group of people who are trained to deal with a situation through guidelines or by those around them. It works like any other social learning process. One important aspect of organizational culture is that it is deeply rooted within its members. It creates the identity of the company and shapes the identity of its workers as well. This social identity is valuable in for company’s market position and an inherent conflict with the employees values can be a serious disadvantage. Due to this fact, companies transmit their values

Accounting Essay Example | Topics and Well Written Essays - 1000 words - 11

Accounting - Essay Example Consistency can only be maintained in the companies throughout, if the accounting standards are itself consistent. Even though the establishment of the accounting standards has eradicated the ambiguity to some extent but it does not provide much uniformity in the judgmental matters. The rules and principles must be given much importance in this regard as well as their application, in order to maintain the coherence of the application of the accounting standards. In addition, judgmental matters must also be dealt with great regard such that the basis is not distorted. Only the internal consistency cannot assure the consistency of the accounting standards which is because the principles do not guide the managers in judgmental matters which in the end becomes a hurdle in the coherency of the accounting standards. There is vast importance of the consistency of the Accounting standards used all over the globe. The rapid change is also resulting is ambiguity on part of the investors and other users of the financial statements which must be eradicated. â€Å"The boards have also acknowledged the need of coherence of the accounting standards as well as the accounting policies which would benefit the creditors, investors and other users of the financial statements.† (Helium, 2010) It is very necessary that all the financial statements give a familiar representation of the policies and procedures applied as well as the results reached, which would lead to the user of the financial statement to reach a better conclusion. â€Å"There is an immense need for the consistency of the accounting standard’s application in areas of revenue and expenses through internal consistency.† (Mourik) The IASB has also taken a vast initiative in this regard in order to urge the makers of the financial statements to invoke consistency in their financial statements. IFRS 8, in this regard has stated â€Å"All the entities