MID-YEAR ASSESSMENT Management Finance Assignment

MID-YEAR ASSESSMENT Management Finance - Assignment ExampleOne of the deportmental issues that have been noticed within the type study is that of resistance from employees. It is a common observance within an organization to have employees refuses to work with the new organization or processes. In some cases employees reckon the new system as redundant or unnecessary altogether (Attwood, 1996). In such cases usually employees feel threatened by the new system and feel that it challenges their methods of working and makes them feel redundant. In the case provided it was observed that the supervisor of department D Janet was extremely unhappy after viewing the performance report. This behaviour shown by Janet shows that she felt threatened by the report and refused to accept the system altogether. In some cases employees tend to agree to the new budgeting system but brush off its execution of instrument. Employees tend to assure executives of the organization that they would commi t to the processes of the system but in reality tend to hold reservations about it, causing reluctance in the implementation of its implementation (Woldring, 2010). As seen in the case out of all the directors only one of the director was interested in its implementations whereas others were uncertain about it. This caused the directors to become dulled in its effective implementation. Another behavioural issue that can be seen the familiarity is confusion amongst the employees. While developing a budgeting plan it is vital to give out with employees to investigate the factors that were involved in formation of the actual budget. Since communication between the executives of the company and the employees was not clear misunderstandings are created during the formation of performance reports (Poornima & Charantimath, 2011). This in reach causes employees to disown the report claiming that information provided in the report is baseless and has little or no significance when placed under practical circumstances. Further more, there was no didactics provided to the employees prior to implementing the new financial control system. Direct implementation of the new system caused a great deal of confusion amongst employees who were taken aback on receiving their departments performance report. Changes to be introduced in the Existing Report System In order to ensure that the current budgeting system is more easily accepted by the companys employees it is vital that the management removes uncertainty and insecurity that the company employees have regarding it. The first and foremost step that the company could take is to initiate a training program for its employees. The main aim of the training program should be to increase the knowledge and awareness of the employees regarding budgeting and comparative analysis. The training sessions must inform employees of the exact advantages that budgeting and comparative analysis would bring about to the company. The proces s of training must start with the raising executives of the company. Obtaining the consent and backing of the top executives would help in the implementation process (Finkelstein et al., 2008). Moreover, knowing that all the organizational executives share the same vision convincing employees at the lower level makes it a lot easier. Once the companys executives have been briefed it is then time to convince employees working at the lower level