The most important purposes behind the Code of Professional Conduct are to protect the investor, the employee, and the creditor. These are important because it is these people that make the company what it is. The people that see the financial statements for a company deserve to know the truth about how the company is doing and these rules are put into place to ensure that. If financial information is misstated the investors may think a company is
1.1 Explain the importance of continually improving knowledge and practice Professional development is a hugely important aspect in any industry to ensure the success and effectiveness of a business. Managers must ensure they continue to update and refresh their knowledge through, for example; research, training, seminars, workshops etc. in order to ensure current working practices are meeting legislation such as employment laws, equal opportunities etc. and meeting standards such as the care council code of practice and national minimum standards and regulations as set out by CSIW. It is vital for management to be aware and up to date with relevant legislation and information, as it is a part of their role to guide, support and influence other staff to do well in their own roles.
Unit 201 Work in a Business Environment Outcome 2: Understand how to behave in a way that supports effective working Assessment Criteria 2.1 and 2.2 The purpose and benefits of agreeing and setting high standards for my work is for me to produce quality, high standard work that is on time, accurate and professional. It allows for me to show my interest for my work and job role I am fulfilling. It will help to show me in a good light and avoid leaving a poor impression of myself. To help set the high standards for myself I can speak to the manager to discuss what the standards are for the company and what I am required to do to implement this. I can also review pass work to gain a further understanding and feel for what standards are expected for employees of the company.
I need to be aware of the most up to date legislations and guidelines, and the welfare requirements. As a member of management it is even more vital that I am aware and up to date with the above, as part of my role is to guide, support and influence other staff to do well in their own roles. Your own professional development does not only impact on yourself but other staff, the organisation and people who use the service. Reflective practice is a huge part of professional development and you need to be skilful in this to really benefit from it, criticising your own practice isn’t always easy but if you take a step back and look at it from different points of view it can really benefit yourself and your skills. To improve my own knowledge is very important to me and I really enjoy learning new skills which can benefit my roles or future roles.
They are committed as a company to providing maximum value to their customers, shareholders, and employees. They will accomplish this goal by adhering to the core values of responsible financial management, clear and honest communication, and always keeping performance and customer service in the forefront. My recommendation is that management must understand the high demand and how fast the company is expanding. The company must be very careful of the implementation that is needed, to be embedded, to stay a very competitive organization. Training, education, special skills and qualifications is needed to be a strong competitive company.
They are the foundation for every business decision we make. We are committed to delivering sustained growth through empowered people acting responsibly and building trust. Sustained growth is fundamental to motivating and measuring our success. Empowered people means we have the freedom to act and think in ways that we feel will get the job done, while adhering to processes that ensure proper governance and being mindful of company needs beyond our own. Responsibility and trust form the foundation for healthy growth.
ALL WK 1, DQ’s: WK 1, DQ 1: What is a business’s obligation to build an ethical culture and balance its desire for profit with ethical responsibilities to employees, customers, society, and the environment? Ethics is different from one person to the next, so it is imperative that business clearly define the norm for staff members and management. The decisions organizations make influence more than business partners, affiliates, culture, and others. It is important for organizations center of attention on maximizing shareholder revenue. Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations.
With the use of proper tools and approaches, creating greater accountability is a powerful tool that affects work behavior. Unlike the use of incentives and or punitive actions to encourage good performance, accountability aims for a long term impact on work productivity. It deals with the important issues such as boosting morale and self esteem, improving communication not just between the management and the employees but also among the employees themselves. Employee accountability is aimed towards improving the workplace without having to resort to unnecessary material compensation and/or sanctions. This will keep the organizations behavior in terms with keeping the clients safe and the employees accountable of for all means .
A positive influence plan includes compensation for positive emotions and performance, quality and timely performance evaluations, and timely employee surveys. All of these tools for increasing employee motivation, satisfaction, and performance will not result in immediate change but will allow a manager to identify and assess current and future issues within a team. Increasing an employee’s motivation, satisfaction, and performance is the most difficult aspect of being a manager. By developing a positive and effective influence plan, a manager can be successful in changing all three aspects for the
Individuals have an obligation to make decisions that benefit everyone, without taking away from others. Thus, for example, my ethical decisions are based on following the rules of a company and doing what is right not what appears to be right. I believe policies are in place to foster growth in individuals and organizations and that should not be taken away in order for a person or organization to be successful or