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Head of Budget and Management Committee - Essay Example

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This essay describes managing strategies and budget analysis of Merrill Lynch company, that has over 15,000 financial advisors today. The researcher then discusses the need to adopt new technologies at Merrill Lynch, that is likely to impact positively on the levels of profits…
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Head of Budget and Management Committee
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Download file to see previous pages The vast nature of engagements entails the use of voluminous data that pose challenges in retrieval, management, and interpretation. In order to compete favorably on the fluid and complex market, Merrill Lynch should adopt a technological solution that would synchronize, harmonize, and organize data in a manner that improves on the efficiency of the firm [2]. Such a task would necessarily demand the adoption of a computerized mechanism with ultra-modern features suitable for performing a vast range of tasks in the shortest time possible. Such a system would also shield the company from the possibilities of human error. Changes in information management systems often determine the competitive advantage that one firm gets over another. The United States and Canadian corporate sectors are some of the heaviest consumers of technological innovations across the times. The rapid developments in the field of Information Communication and Technology have made it possible for businesses and multinationals to exploit the synergies in the world of commerce in ways that are both responsive to the needs of the clientele and the overall mission and objectives of the organizations. The adoption of the touch screen tablet will add to the operational efficiency of the firm, which would ultimately translate into increased profits and cuts on expenses. Description and Analysis Touch screen would redefine the work environment at Merrill Lynch offices. The technology will offer a range of choices to the workers in ways that will engage them more closely and effectively with the tasks at the work place. The adoption of new working machine will require a reorganization of the office space. Studies and inquiries into...
The researcher of this essay states that despite an impressive lead in the provision of legal services, Merrill Lynch’s real potential is held back by challenges of logistics arising from its continued dependence on old technologies. On this note, there is the pressing need to adopt the use of touchscreen tablets for increasing the levels of efficiency and effectiveness in the legal processes. The overarching concern revolves around the need of keeping pace with technological innovations and retaining a comfortable hold on the clientele through quality services while exploring all possible entry points into alternative segments on the market. The researcher provides a descriptive analysis on the topc of adoption of the new technologies for the company and aims to present some positive effects of it. The need to adopt new technologies at Merrill Lynch should be understood within the context of environmental factors and effects. Merrill Lynch operates an unpredictable environment within the American and Canadian corporate sectors. High levels of technological innovations are the key feature that defines this environment. Separate studies have associated the adoption of technology with a significant reduction of work-related stress and burnout. The researcher then sums up his study and concluds that the adoption of the technological devices at Merrill Lynch would be a positive step towards entrenching its corporate profile with regard to enhance it's performance and quality of services. ...Download file to see next pagesRead More
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