Managing Financial and Human Resources for Sustainable Business

Managing Financial
and Human Resources
for Sustainable
Business

Table of Contents
INTRODUCTION ...............................................................................................................................3
MAIN BODY ......................................................................................................................................3
Critically provide information about concept and methods of leadership and change management
.........................................................................................................................................................3
Analyse role of flexible leadership and individual perspectives in relation to leaders managing
change of pandemic ........................................................................................................................6
Critical analysis of why the issue has strategic importance in understanding leadership
approaches and its impact on its stakeholders whilst proffering some recommendations..............8
CONCLUSION ...................................................................................................................................9
REFERENCES...................................................................................................................................10
Books & Journal: ..........................................................................................................................10

INTRODUCTION
Market is wider and broader which consists of wide range of businesses. It is crucial for
organisations to focus on development and change that take place in enterprise. In organisation,
leaders as well as managers are important without which it is not possible for business to achieve
goals and objectives (Daniels, 2020). Main aim of this report is to examine the importance of
leadership approaches in business to deal with problems. This report is based on approaches of
leadership and managers used by organisation to deal with uncertain changes (COVID 19). This
report comprises of brief overview about concept and approaches of change management, role of
flexible leadership, analysis why issue has strategic importance in understanding leadership
methods and impact on stakeholders and reflection.
MAIN BODY
Critically provide information about concept and methods of leadership and change management
The market of business is wider and expanding at rapid scale. Leadership is to be defined as
process of influencing decisions of others to get work done. In organisations, both leaders as well a
managers are important as they help in accessing to business goals within period of time. Also it has
been stated that it is necessary to be aware about market situations so that better decisions are being
undertaken. Due to flexibility of market, it is not easy for firm to implement effective strategies and
achieve competitive benefits, For example- due to occur of COVID 19 it has become difficult for
many enterprises to access and execute their business operations and functions (Huynh, 2018).
Leadership involves establishing a clear vision, sharing the vision so others will follow willingly
and providing the knowledge, information and methods to realize the vision. Further, leadership is
ability of an individual or organization to lead or guide other individuals.
In enterprises, it is critically important to focus on change and change management in
order to achieve competitive advantage in market. Also, to examine the need for change many
enterprises conduct market research analysis as well as scanning of business environment. With
help of market research, it is easy for entrepreneurs to obtain relevant information about changing
situations and factors that impact on leadership of leaders and organisational functions. With
considering of change management, it is easy to access the benefits and use effective strategies that
leads to higher productivity and profit. Moreover, it has been too stated that leaders need to apply
appropriate form of style as well as methods so that goals are accomplished.
There are many models of change management which are used by leaders to in order to
access and adopt change in effective manner. For example- Lewin Change management model,

Kotters 8 step model and many more.
Change management-
It is to be defined as process which guides to support and equip individual to successfully
adopt the change with aim of achieving organisational success and growth. It is important to focus
on need for change within business so that it is easy to access the benefits in easy way. Most of the
firms uses change management model in order to examine need for change. With consideration of
change management, it is easy for leaders to access and reduce chances of uncertainty. While all
changes are unique and all individuals are unique, decades of research shows there are actions we
can take to influence people in their individual transitions. Change management deliver a structured
approach for supporting individuals in organization to move from their own current states to their
own growth or development states. So, Lewin change management model is being described as
follows-
Unfreeze- It is first step in which main focus is on preparing firm and other to be ready for
change. In this stage, it is essential to be well aware of root cause of change so that better decisions
are made. In relation of corporate sector, changes can be arise due to external as well as internal
factors. This is essential to unfreeze the static situation so that new changes and need for change is
easily analysed (Kirchner, 2021).
Change- It is second aspect in which it states about the desire of individual to accept the
change or not. It is difficult for individual to focus on new things or processes. This is because it is
not easy to determine the future situations. The reason for adopting change is being determined in
correct way. So flexible leadership approach is used by leader of firm. Convincing employee for for
adopting a specific change is essential as well as difficult task.
Freeze- In this, it focuses on carrying out adopted change in future period and with higher
consistency. With implementation of freeze, it depicts the stability in employees, form of new
relationships etc. It is critically necessary for leaders of organisation to manage and further execute
the change in static way which leads to benefits of firm. Once change has been adopted, it is
necessary to make ensure that that change is further processed and is being carried out (Kovalenko,
2020).
With consideration of above discussed mode, leaders analyse the change in proper manner
and make assure that appropriate type of decisions are adopted. Also, it has been analysed that
appropriate type of market analysis is being conducted so that changed are made accordingly.
There are also various types of leadership methods which are described as follows-
Participative- It is effective method and technique of leadership in which it focuses on