Question

Answer 1: What do you think are the pros and cons of thinking about politics and admission in partnership rather than separation?

Answer 3: Describe the two contemporary trends and give examples of each. In an organization with which you are familiar, and describe how tools of modernization have affected the organization’s culture.

Answer 4: What does the concept of “Bridging the GAP” mean to you as a financial management professional?

Answer 5: How does your understanding of the four values describe in the chapter affect your understanding of the challenges facing financial managers in their work to support a governing body’s policy-making function?

Answer 1

Answer-1 Pros of thinking about Politics & admission in partnership rather than separation-

1. Connect socially with people for their benefits
2. Exposure to tackle with people
3. Understanding of various aspects of society & can take effective steps to improve the society
4. Learning lots of good things about the people, culture & their values
5. Can gain respect of people if performing good

Cons about Politics-

1. Equality required among the group or else problems can be created
2. Lots of problems & challenges in performing the task
3. Other parties will look for the chance where they can let you down

Answer-2 2 contemporary trends are –

1. The Information- processing design approach- It involves strategic planning & all the related aspects are very important.      In an organization, top line & bottom line both plays a very important role & company is directing towards that goal only.
2. The Self- Design approach- In this, managers do make their own strategy to create the growth plan for the organization & monitoring & reviewing time to time whether going in right direction or not like own ERP software or own it tools.

Tools of Modernization is today’s demand & creates success in organizational culture. Better people are the part of this group & make the culture very healthy. It is a change management which creates a difference. Modernization speaks about reviewing & suggesting the changes in existing business. Modernization also depends on the investment occurred. Modernization process is quite difficult to be implemented but once implemented, very effective.

Answer-3 Bridging the gap means that if there are financial losses are there so we have to manage to get to the stage where we are not making profits & also where the situation occurs of no profit, no loss. So ideally, we need to understand our financial requirement & then doing the planning accordingly.

Answer-4 Financial values are-

1. Focus on client requirement- We have to understand the requirement first & then going forward to provide the best policy. It needs hard work to work upon.
2. Integrity- Whatever we are offering, we have to understand the integrity value first & then transparency is more important in this regard.
3. Excellency required in financial methodology- Whatever solution we are providing, it must be 100% excellent.
4. Best policy- It should suit the requirement of the person.