ACCOUNTANCY & MANAGEMENT HELP: MACRO ECONOMICS- FAB/F1

ACCOUNTANCY & MANAGEMENT HELP: MACRO ECONOMICS- FAB/F1: MACRO ECONOMICS POLICY OBJECTIVES:    Economic Growth, inflation, Unemployment, The Balance of Payment Fiscal Policy: On taxation, publi...

Business Organisation and Their Stakeholders- F1/FAB

Stakeholder:

   Internal         :  Employee, Management
   Connected   :  Shareholder, Customers, Suppliers, Financiers
   External       : The Community, Government, Pressure Group
   

MACRO ECONOMICS- FAB/F1

MACRO ECONOMICS POLICY OBJECTIVES:
   Economic Growth, inflation, Unemployment, The Balance of Payment

Fiscal Policy: On taxation, public borrowing and Public Spending.

Tax: Regression: High Tax on Poor than Rich.
        Proportional: Same proportional of all income level.
        Progressive:  High proportion of high income.

Monetary Policy Objective: Money Supply, Interest Rate, Exchange Rate, Credit Control.

Balance of Payment accounts consists of Current Account with visible and invisible.

Equilibrium : Supply = Demand

Performance Appraisal -F1/FAB

Appraisal is a part of the System of Performance Management. It can be used to reward but also to identify potential. It can be used to establish areas for improvement and training and development needs.

Formal appraisal systems support objectives , positive, relevant, consistent feedback by managers. 

The appraisal interview is an important stage in the process, as it can be used to encourage collaborative problem solving and improvement planning.

Mayer: A problem-solving style is preferable to a tell and sell or tell and listen Style

New techniques of appraisal aim to monitor the appraises effectiveness from a number of perspectives. These techniques include upward, customer and 360 degree feedback.

Training and Development - F1/FAB

The learning organisation is an organisation that facilitates the learning of all its members.(Pedler, burgoyne, Boydell) by gathering and sharing knowledge, tolerating experience and solving problems analytically.

The main purpose of training and development is to raise competence and therefore performance standards. It is also concerned with personal development, helping and motivating employees to fulfill their potential.

There are variety of Training method Off the Job training and On the Job training

Induction is the process whereby a person is formally introduced and Integrated into an organisation or system

Motivating individuals and Groups- F1

Motivation is a useful concept despite that the impact of motivation, job satisfaction or morale on performance are difficult to measure.

Content Theories : The best way to motivate an employee is to find what his /her needs are and offer him/her rewards that will satisfy those needs. 

Maslow identified of hierarchy of needs.

Herzberg identified two basic needs system which are the need to avoid unpleasantness and the need for personal growth. He also suggested factor such as Hygiene and Motivator factors and those are offered by Organisation.

Herzberg suggested three types of job design: Job Enrichment, Job Enlargement and Job Rotation 

Job enlargement is attempt to widen jobs . Job Enrichment represents into greater levels of responsibility, challenge and autonomy/freedom. Job rotation is the planned transfer from one job to another to task variety.

Process theory of motivation of help managers to understand the dynamics of employees decision what rewards are worth going for.

Vrooms Expectancy theories (Force=Valence x Expectancy) is which employee expects the results of his effort to contribute to his personal needs.

McGregor Theory X and Y. X means to force to do something they don’t willing to do work. and Y means employee like the work.

Rewards may be Extrinsic (External to the work) and Intrinsic (Arising from the work)

Feedback as a Motivator. Participation (in decision making) as a Motivator. Participation with 5Cs such as Certainty, Consistency, Clarity, Capacity, Commitment

Pay as a Motivator,

Performance Related Pay (PRP)

Individuals groups and teams - F1

Personality is an individuals thought, feeling and behaviour’s.

Perception is the Process by which the brain selects and organises information in order to make sense of it.

People behave according to what they percieve.

Attitude is that which people think, feel and want to about it.

A group is a collection of a individuals.

A team is a more than a group. It has Joint Objectives and Accountability.

Team working may be used for Organising work, Controlling activities, Generating ideas, Decision 

Making , Pooling Knowledge.

Multi-disciplinary teams contain people from different departments.

A balanced mix of roles perform by team member.

Belbin suggest: Co-ordinator, Shaper, Plant, Monitor-evaluator, Resource Investigator, Implementer, Team worker, Completer-finisher and Specialist.

Team members contribution: Proposing, Supporting and blocking

Tuckman’s team develop stages Forming, Storming, Norming, Performing, Dorming, Adjourning.

Team can evaluate on the basis of Quantifiable and qualitative factors.    

Diversity and equal opportunity - F1

Equal Opportunity is Equal access to benefits and fair treatment.

Discrimination of certain types is illegal such as: Sex and marital status, Colour, Race, Nationality and Ethic or National Origin, Disability, Sexual Orientation and Religious belief and age.

Managing Diversity is based on the belief that the dimensions of Individual difference.