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Managing Change and Personal Development plan Assignment

   

Added on  2021-04-17

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Running head: MANAGING CHANGE AND PERSONAL DEVELOPMENT PLANManaging Change and Personal Development PlanName of the studentName of the UniversityAuthor note
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1MANAGING CHANGE AND PERSONAL DEVELOPMENT PLANExecutive SummaryThe primary purpose of this report is to discuss about the organizational goals in relation tothe Finance Department of Air New Zealand. It elaborates on the essential HR strategiesthat can prove to be helpful in carrying out changes within the Finance Department. It statesabout the job description of financial manager and the personal specifications in relation tothis position. The report also elaborates on the personal development plan pertaining to fourskill sets and how one can bring about improvements in these areas so that it can lead toprofessional growth of an individual.
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2MANAGING CHANGE AND PERSONAL DEVELOPMENT PLANTable of Contents1. Introduction........................................................................................................................3Findings and Analysis............................................................................................................3Question 1..............................................................................................................................32.1 Organizational Goals of Finance Department of Air New Zealand................................32.2 HR strategy that can help in leading change in Finance Department............................3Question 2..............................................................................................................................42.3 Job Description of Finance Manager of Air New Zealand.............................................42.4 Person Specification of Position....................................................................................42.5 Personal Development Plan for improving four skills....................................................43.0 Conclusion:.......................................................................................................................5References:............................................................................................................................6Appendix A.............................................................................................................................7
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3MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN1. IntroductionHuman Resource Management (HRM) helps in describing the formal systems thatare devised for managing people in an organization. HRM aims at maximising productivitywithin an organization and optimizes the effectiveness in relation to the employees. Theprimary purpose of HRM is to align workforce with that of the business (Basfirinci & Mitra,2015). Personal Development Plan helps in creation of an action plan that is based onvalues and goal-setting for the personal improvement of an individual. This report focuses onthe organizational goals of Air New Zealand and the strategies that Human Resources canmake use of in order to lead the element of change. This report also expounds on the jobdescription of the position of finance manager and the personal development plan that canhelp in improving four skills which is relevant to the professional position. It also elucidateson the learning methods that can be used in relation to each skill.Findings and AnalysisQuestion 12.1 Organizational Goals of Finance Department of Air New ZealandThe organizational goal in relation to Finance Department is to analyze the financialperformance of the organization by taking recourse to cost classification along with financialplanning (Chen & Liu, 2017). The goal of Finance Department of Air New Zealand will be toensure a high EBT margin that can help in assessing the profits made by the company.Earning a positive EBT margin that is around 25 % in a year will be the organizational goal ofthe Finance Department of Air New Zealand. The HR Department can use the alternaterevenue generating stream and sell ancillary products in order to bring in profit for theFinance Department of Air New Zealand. The operating expense ratio of Air New Zealandwill be around 0.80 that can be achieved by taking recourse to total revenue integrity route(Seo, Moon & Lee, 2015).2.2 HR strategy that can help in leading change in Finance DepartmentThe dynamic business in relation to Airlines Company necessitates that the HumanResources take suitable action that can help Air New Zealand in gaining a competitive edgeover that of the rivals. Cost management is an arena that the HR will focus on so that thefares of the airlines are low. Cutting down on the training time of the pilots can be profitablefor that of Air New Zealand. The human Resources management can devise suitablestrategies like that of having pocket-less seats in the Air New Zealand that can reduce theexpenses incurred (Yang et al., 2017). It can help in the process of cost management thatcan help the Finance Department to earn profits. The HR Department of Air New Zealandshould be able to bring in innovations that can help the company in rising above theircompetitors. The HR should be able to recruit the right personnel that can properly use thetechnologies and invest in suitable alternatives that can maximise the limited investmentresource of an organization. The platform of social media can be used by the HR Department in engaging with thecustomers. It can help in bringing about structural changes within the Finance Department.Automation of the different business processes can help in enhancing the convenience inrelation to Air New Zealand. The HR Department of Air New Zealand can tap into thealternate revenue generating stream by the selling of ancillary products throughout the valuechain (Garefalakis et al., 2016). Total revenue integrity route can be beneficial for the
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