Role of Finance Manager at Workplace : Report
Added on -2020-07-23
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BUSINESS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Impact on organisational effectiveness and goals..................................................................3Styles of management:.....................................................................................................................3Influence on work force responsible......................................................................................6Methods used to maintain the controlling staff member........................................................7Manager meets the expectation of their staff.........................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONIn the workplace of each and every business entity, different types of the managershaving very important place for taking effective business decisions. Several managers playingsignificant role in the enterprise are such as finance, human resource, production, research anddevelopment etc. The present study reflects role and basic tasks of the manager which areperformed in the relevant department of the entity. Along with this, responsibilities which aretaken by the managers at the working environment are described in proper direction. In additionto this, various contextual elements are explained in the present study. Further, such aspectsaffect to the effectiveness as well as objectives and goals of the businesses. At the workplacedifferent kinds of the employees working which are like full-time, aged, skilled, qualified, part-time etc. Further, impact of such types of the workforce at the responsibilities of the managersand organisation is described in the present report. Role of finance manager:At the workplace of an organisation, different department are there for which particularmanagers are assigned. Further, various managers performing role in the company are like HR,finance, R&D, marketing, production etc. In the present scenario, role of the finance managersare explained as below:Raising fund:In an organisation, when management going to adopt new project or expandbusiness then capital required (Role of a Financial Manager, 2017). Further, how much amountof fund is needed to raise from which financing source is decided by the financial manager of thecompany.Allocation of financial resources: Apart from this, to each and every business department fundis required which is allotted by the finance manager. Moreover, other basic role of this managerin the company is to allocate fund or financial resources to the organisational functions.Investment decisions: In order decide that in which alternative money should be invest, financialmanager plays the basic role. Effective investment decisions supportive for the business entityfor enhancing return and profit at the end (Role of Finance Manager, 2017).Profit planning: This is another major responsibility of the finance manager under which he/shehas to plan for the profit. He/she has responsibility to manage the profit and loss of the company.1
They have to make the report and statement under which all information related to theprofitability and loss included (Kathy and Deborah, 2007). While manager effective design theprofit planning then company may able to know its future expenses.Role of the human resource managerWithin the organisation, human resource manager plays a very crucial role as they areresponsible to manage the all workforce and their activities. HR manager is responsible torecruit the employees, train them and manage in such manner so as they can able to attain theorganisation objective. Following are some responsibility of the human resource manger-Training and development- Training and development is one of the most importantresponsibility of the human resource manager under which they are responsible to trainthe employees. With help of this support, employees can able to improve their skill,ability, knowledge about the business. (Barrick and et.al., 2013) In order to organise thetraining and development program, it is very essential to analyse the performance ofemployees. While manger effectively assess and evaluate the performance of employeesthen it becomes easy to organise the accurate training session for them within thecompany.Recruitment and selection- Recruitment and selection is another major responsibility ofthe human resource managers under which they are responsible to recruit the candidatefor required position within the company. In order to recruit the employees, it is veryimportant for HR manager to analyse the skill, ability, talent of the candidate in theinterview round (Hakanen and van Dierendonck, 2013).Manage the policies and practices- This is another important responsibility of the humanresource manager under which they are responsible to manage the policies, practices andsystem of the organisation. HR manager manage and implement the company policiesand practices.Resolve the issue of personnels- HR manager another responsibility is to resolve theissue of personnels related to their working. If any issue faced employees then it is greatresponsibility of the HR manager to identify and resolve them. 2
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