Extract of sample "The Close Relationship Between Financial Leadership and Financial Goal Setting of Top SMEs"
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Generally, this requires a finance strategy (Bender & Ward, 2009) that seeks the maximisation of sales, market share, profits, earning per share, return on investment, growth, stock price and stockholders' well being (Bierman, 1999). Finance leadership is important in attaining good results for corporate entities. Financial leadership involves strategic thinking, innovation, management of business risks and change (Militello & Schwalber, 2000). Strategic thinking entails the use of structured and emergent systems to plan and attain results for the whole organisation over a long period of time. A leader has the responsibility of considering the internal organisational and external environmental factors in order to come up with a good strategy. When a strategy is in operation in an organisation, the leaders will have to identify inhibitors and other factors that can prevent them from attaining their objectives and solve them through a comprehensive risk management system. Innovation has to do with the continuous improvement of systems, processes and products of an organisation and it requires deep thinking and analysis to be attained. Financial management requires four things: Leadership, Ethics, Structures & Responsiveness (Blore et al, 2004). In other words, a financial leadership structure must be sensitive to the technical elements of leadership as well as the ethical concerns of leadership. It should also have structures of rules and regulations that would regulate activities throughout the organisation and be responsive to emergent matters and situations that would come up. The distribution of authority in organisations is done through a defined organisational structure which sets out the relationship between various units of the organisation (Stevens & Loudon, 2005). For the sake of accountability, there is the need for reporting to be done by subordinates to people in authority (Stevens & Loudon, 2005). Therefore people who have power delegated to them have the duty of reporting to their leaders at regular intervals. Some of these reports include financial reports like management financial information from lower units which culminates in the creation of income and position statements that are used by various stakeholders for decision making. Problem Statement In practical terms, there is a questions about how these necessary qualities of financial leadership relate to businesses and their goals. For instance one would wonder why some companies are growing quickly financially whilst others are folding up in the UK. It is true that the global recession is making business difficult but how come some are growing fast and some are growing slowly? It therefore suggests that some businesses are getting some principles of finance right whilst others are not. What are the structures in financial systems and structures that affect financial goals of an organisatio
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The leadership opportunities for women in the Turkish context were also explored, including the initiatives of the policy networks to introduce and provide equal opportunity and reduce gender discrimination. The cases of female leaders in London's financial sector were cited as points of comparison.
The author of this paper states that the key concept of this dissertation is to find the link between leadership and financial goal setting of top SMEs in the UK. There are some SMEs that at the start never thought of generating profit but just want to give high emphasis on how to make their human resource happy and satisfied.
Management of a diverse workforce requires an evaluation of the perspectives of both the leadership and the staff. This study is intended to provide valuable insight on human resource strategies and their relevance to employee empowerment in diverse organizational cultures.
The consequential growth of multifaceted global supply chains in countries such as China, India and also Brazil has significantly impacted the dynamics of global trade. Other economies across the globe are also set to surface over the next few years and hence add to the current changes underway.
Financial planning forms a part of strategic planning in the sense that it is important to allocate an organization’s resources prudently if the strategic planning is to succeed (Chorafas, 2007, p. 14).
A strategic plan
world. A brief analysis of the global economic scenario can highlight the fact that the banking industry has always been that sector which has either strengthen or uplifted the economic outlook of a particular region, or has caused turmoil .Nevertheless, for a progressive and thriving economy, it is imperative for the banks to equip themselves with the awareness regarding the various risks and benefits that prevails in the market.
However, there is a dearth of research regarding the extent to which the founder is able to embed strategic behaviors into family firm management and culture or the degree to which these behaviors impact the financial performance of these firms (Sorenson, 2000).
Leadership is defined as the capability to decide where an individual wants to go and how do they intend to get there; their followers will then tend to perform the same tasks and support the efforts of their leaders (Topper, 2009, p. 561). However, it should be borne in mind that leadership is not only concerned with encouraging people to perform preferred tasks within a group, and that leadership skills can be learned and exercised by any individual within a group in order to complete the desired tasks.
The methodology employed for the research involved the identification of UK's fastest growing companies in 2010. The research involved the collection of data from CEOs or Financial Directors about the actual structures that were in operation in the period within which their businesses experienced unprecedented growth.
In this research paper, after a review of the existing literature, new econometric results on the impact and implications on the performance of SMEs, the ongoing evidences of 2009 and forecasts (2010-2013), and drive some key financial and economic policy implications.
32 Pages(8000 words)Dissertation
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