Finance

Please have a read through the context provided below and answer the question with relevant references.

Context – I currently work at a local school in HK so the priority stakeholders for the management are the children. This is wholly appropriate but other stakeholders could be considered more, for example, the staff. However, I doubt this will happen for two reasons. The first is because of the management style which I believe to be authoritative. Goleman (n,d, as cited in Mullins, 2013: 395) explains that managers who display this style ‘can be occasionally overbearing’.

This is true of ours, who make all of the decisions for the school which gives an authoritative message to the staff. Goleman adds that this style is ‘effective’ but that ‘a collection of distinct leadership styles’ are best, as that can allow a leader to adapt to suit different situations. However, the authoritative style is the most common in local schools in HK and this affects the cultures of the establishments. This can lead to what Bilgin and Danis (2016: 110) call, a ‘lack of innovativeness’.

They explain that managers that are against ‘change’ have an effect on the company too. Basically, if leaders are not prepared to change, the firm’s culture will stay the same. Added to this, I have been told that a teacher earns more and more the longer they stay in a job but will have a loss of salary if they start afresh somewhere else. This means that teachers are prepared to stay in the authoritative atmosphere to protect their income.

I think that by diverting time and finance to the teachers, my employer will benefit from a much more resourceful and contented staff. Do you agree?

How can business finance be used to raise the feeling of importance for stakeholders?

Which stakeholders do you feel deserve more recognition in your company and why?

Last Updated on July 2, 2020 by Essay Pro