By Emile Woolf Publishing Limited
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Additional resources for ACCA F1 Accountant in Business Key Study Text
Managers also represent their organisation in its dealings with other organisations. - As a leader. Managers also deal with relations between individuals inside the organisation, providing leadership (hiring, firing, training, motivating and so on). - Liaison. Managers of groups within an organisation act as a link or bridge with other groups. For example, different departments often communicate with each other through their managers. Information role. Managers receive and disseminate information, acting as a channel of information both inside the organisation and in communicating with external bodies.
The leader of the management team in a company is usually the chief executive officer or CEO, who is also a member of the board of directors. The term ‘managing director’ is also used in smaller companies. In large companies with a divisional structure, there may a managing director for each division or strategic business unit (SBU) and the CEO is the overall head of the management team. Separation of direction from management In large companies, particularly large stock market companies, there has been a separation of direction from management, and the different responsibilities of the board of directors and the executive management team have been recognised.
Initiative. If employees at all levels in the organisation are given scope to show initiative, there will be much more enthusiasm and energy. com for Q/As, Notes & Study Guides 37 Paper F1: Accountant in business argued that the performance of an organisation is improved by ‘empowering’ employees to use their initiative and make decisions for themselves. 4 Esprit de corps. In an efficient and effective organisation, there is a strong sense of belonging to a team. Team work and interpersonal relationships are strong and positive.
ACCA F1 Accountant in Business Key Study Text by Emile Woolf Publishing Limited