Managing Change and Personal Development Plan: Air New Zealand Finance

This report focuses on the organizational goals of Air New Zealand's Finance Department, emphasizing financial performance analysis and cost management. It outlines essential HR strategies for leading change, such as cost reduction, innovation, and leveraging social media. The report includes a job description for a Finance Manager, detailing key responsibilities and required skills. Furthermore, it presents a personal development plan addressing four critical skill sets: speaking and presentation, IT usage, competitor/industry awareness, and time management. The plan suggests specific training courses, conferences, and projects to enhance these skills, ultimately contributing to professional growth and improved performance within the finance sector.

Running head: MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
Managing Change and Personal Development Plan
Name of the student
Name of the University
Author note

1MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
Executive Summary
The primary purpose of this report is to discuss about the organizational goals in relation to
the Finance Department of Air New Zealand. It elaborates on the essential HR strategies
that can prove to be helpful in carrying out changes within the Finance Department. It states
about the job description of financial manager and the personal specifications in relation to
this position. The report also elaborates on the personal development plan pertaining to four
skill sets and how one can bring about improvements in these areas so that it can lead to
professional growth of an individual.

2MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
Table of Contents
1. Introduction........................................................................................................................ 3
Findings and Analysis............................................................................................................ 3
Question 1.............................................................................................................................. 3
2.1 Organizational Goals of Finance Department of Air New Zealand................................3
2.2 HR strategy that can help in leading change in Finance Department............................3
Question 2.............................................................................................................................. 4
2.3 Job Description of Finance Manager of Air New Zealand.............................................4
2.4 Person Specification of Position....................................................................................4
2.5 Personal Development Plan for improving four skills....................................................4
3.0 Conclusion:....................................................................................................................... 5
References:............................................................................................................................ 6
Appendix A............................................................................................................................. 7

3MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
1. Introduction
Human Resource Management (HRM) helps in describing the formal systems that
are devised for managing people in an organization. HRM aims at maximising productivity
within an organization and optimizes the effectiveness in relation to the employees. The
primary 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 on
values and goal-setting for the personal improvement of an individual. This report focuses on
the organizational goals of Air New Zealand and the strategies that Human Resources can
make use of in order to lead the element of change. This report also expounds on the job
description of the position of finance manager and the personal development plan that can
help in improving four skills which is relevant to the professional position. It also elucidates
on the learning methods that can be used in relation to each skill.
Findings and Analysis
Question 1
2.1 Organizational Goals of Finance Department of Air New Zealand
The organizational goal in relation to Finance Department is to analyze the financial
performance of the organization by taking recourse to cost classification along with financial
planning (Chen & Liu, 2017). The goal of Finance Department of Air New Zealand will be to
ensure 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 of
the Finance Department of Air New Zealand. The HR Department can use the alternate
revenue generating stream and sell ancillary products in order to bring in profit for the
Finance Department of Air New Zealand. The operating expense ratio of Air New Zealand
will 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 Department
The dynamic business in relation to Airlines Company necessitates that the Human
Resources take suitable action that can help Air New Zealand in gaining a competitive edge
over that of the rivals. Cost management is an arena that the HR will focus on so that the
fares of the airlines are low. Cutting down on the training time of the pilots can be profitable
for that of Air New Zealand. The human Resources management can devise suitable
strategies like that of having pocket-less seats in the Air New Zealand that can reduce the
expenses incurred (Yang et al., 2017). It can help in the process of cost management that
can help the Finance Department to earn profits. The HR Department of Air New Zealand
should be able to bring in innovations that can help the company in rising above their
competitors. The HR should be able to recruit the right personnel that can properly use the
technologies and invest in suitable alternatives that can maximise the limited investment
resource of an organization.
The platform of social media can be used by the HR Department in engaging with the
customers. It can help in bringing about structural changes within the Finance Department.
Automation of the different business processes can help in enhancing the convenience in
relation to Air New Zealand. The HR Department of Air New Zealand can tap into the
alternate revenue generating stream by the selling of ancillary products throughout the value
chain (Garefalakis et al., 2016). Total revenue integrity route can be beneficial for the

4MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
Finance Department of Air New Zealand. Ancillary services are inclusive of paying of the
checked baggage and connectivity of the wi-fi.
The business environment is subject to constant change and Human resources
should be able to communicate the vision of the organization. There should be the alignment
of personal along with corporate goals. The HR should focus on Key Performance Indicator (
KPI) that can help in motivating people by rewarding the right kind of behaviour.
Performance Measurement should be the main driver of that of the reward system of the
organization. The Human Resources Department of Air New Zealand should be able to
adjust monetary valuation in relation to various planning scenarios that can help in
determining the likely income (Zhang et al., 2015). Revenue leakage is a concern of the
finance department of Air New Zealand. The total revenue integrity program of Air New
Zealand will be able to improve the services related to ticketing process and customer
relationship management. Sustainability is a key concern relating to the airlines sector. The
cost of compliance should be borne by Air New Zealand (Barry, 2017). A compliance
program by the HR department can help in the optimization of the business of Air New
Zealand. Simplified Interline Settlement can help in the process of speeding the process of
interline billing. A partner can help in the process of standardization of interline billing.
Question 2
2.3 Job Description of Finance Manager of Air New Zealand
The senior level managerial position will oversee the financial operations of Air New
Zealand and take care of the financial reporting (Seo, Moon & Lee, 2015). It shall supervise
on the budget section of that of Air New Zealand. The finance manager will be responsible
for overseeing the strategic development plan of Air New Zealand. It will look after the
financial metrics and that of the arena of cash flow analysis (Gitman, Juchau & Flanagan,
2015).
2.4 Person Specification of Position
Personal Characteristics
 Team-building skills
 Leadership
 Researching and delving in the area of problem-solving
 Financial Understanding
 Commercial ability
 Proper usage of Information Technology
 Competitor awareness and management of time
2.5 Personal Development Plan for improving four skills
Speaking along with presentation to groups
The professional development training course that is held in Auckland will be able to
teach me regarding how nervousness can be overcome and how one can boost his
confidence (Parmenter, 2015). It can enable one to read the audience and the effective use

5MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
of ice-breakers. Public speaking is of crucial importance in today’s world and I am weak in
this aspect. I want to take part in the public speaking training course so that I learn the art of
effective interaction. This is one of my greatest fears and taking part in this course will be
able to teach me about valuable skills related to professional presentation.
Usage of Information Technology
Information Technology is crucial to the modern world. The finance manager should
stay abreast of the times and learn new technologies so that he can develop himself in the
professional sphere. Cloud computing and IT management are keys to achieving success in
the present world (Cottrell, 2015). I think that my knowledge in relation to information
technology is not adequate. There are many free information technology course that is
available online and I can enrol in these courses so that I can develop my skills in relation to
Information and Technology. Finance manager has to perform a lot of duties that is
dependent on that of Information and Technology and taking part in the course will be able
to teach me essential skills.
Competitor/ industry Awareness
I think that I need to learn what the competitors are doing so that I can prosper in my
professional domain. I shall attend a conference that can help me to broaden my sphere of
knowledge in relation to industry analysis. The Airline industry will be discussed at length
during the course of this conference and the responsibilities of the financial manager in
relation to this industry will be discussed at length. It will help me to get in touch with the
luminaries associated with the world of airlines and the key strategies that are employed by
them so that they can profit and stay ahead of their competitors (Gould, 2017). The financial
managers present in the conference would be able to enlighten me regarding how to analyze
financial metrics in times of economic distress.
Managing time
Management of time is crucial in the professional of financial manager. Financial
manager is burdened with many responsibilities and managing time properly can prove to be
an asset for the financial manager. I shall do a project on “Risk assessment” in relation to the
finance sector with my friends and within a brief span of time everyone will have to come up
with unique ideas that can help in assessing risk in relation to the Airlines sector. One can
come up with only the most important ideas and this project can help one in staying mentally
alert that can help an individual in the perfect management of time (Netter, Poulsen &
Kieser, 2018). It is found that if a person is always mentally active then it can help him in
utilising time in the perfect manner.
3.0 Conclusion:
Organizational goal pertaining to finance department of Air New Zealand pertains to
analysing that of the financial performance in the organization. The resources being
assigned values can help the department of Finance in the process of making considerable
gains. The business should be made transparent which can prove to be effective for the HR
in devising suitable strategies. Cost model on the basis of quantity structure can prove to be
of benefit for bringing about the changes in the Finance Department. The primary
responsibility of the finance manager revolves around overseeing financial operations and
looking after the arena of financial reporting. The personal specifications of the position of
financial manager are that of researching, financial understanding and that of commercial
ability. The four key areas in which I need to develop my skill set is related to group
presentation, managing time, industry awareness and using of the information technology.
The training course revolving around group presentation can help me in overcoming
nervousness and in gaining confidence. Information technology courses which are free and

6MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
available in the internet can bolster my knowledge in relation to this domain that is of great
importance in the position of Finance Manager. Attending a conference can help me in
learning about the industry that can be profitable for the position of finance manager. A
project done on “Risk Assessment” with my friends and covering the main ideas within a
limited time frame can teach me the much necessary skills related to time management.

7MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
References:
Barry, W. S. (2017). Airline Management: Business Management in Transport 3 (Vol. 2).
Routledge.
Basfirinci, C., & Mitra, A. (2015). A cross cultural investigation of airlines service quality
through integration of Servqual and the Kano model. Journal of Air Transport
Management, 42, 239-248.
Chen, C. M., & Liu, H. M. (2017). Exploring the Impact of Airlines Service Quality on
Customer Loyalty: Evidence from Taiwan. International Journal of Business and
Management, 12(5), 36.
Cottrell, S. (2015). Skills for success: Personal development and employability. Palgrave
Macmillan.
Garefalakis, A., Mantalis, G., Lemonakis, C., & Vassakis, K. (2016). Determinants of
Profitability in Aviation Industry of Europe and America. International Journal of
Supply Chain Management, 5(2), 131-137.
Gitman, L. J., Juchau, R., & Flanagan, J. (2015). Principles of managerial finance. Pearson
Higher Education AU.
Gould, J. (2017). career Development: A plan for action. Nature, 548(7668), 489-490.
Netter, J. M., Poulsen, A. B., & Kieser, W. P. (2018). What does it take? Comparison of
research standards for promotion in finance. Journal of Corporate Finance.
Parmenter, D. (2015). Key performance indicators: developing, implementing, and using
winning KPIs. John Wiley & Sons.
Seo, K., Moon, J., & Lee, S. (2015). Synergy of corporate social responsibility and service
quality for airlines: The moderating role of carrier type. Journal of Air Transport
Management, 47, 126-134.
Yang, F. J., Shih, K. H., Nha, D. T., & Wang, Y. H. (2017). Low-fare Airlines Service Quality,
Customer Satisfaction and Customer Loyalty. Journal of Accounting, Finance &
Management Strategy, 12(2), 97-122.
Zhang, L., Zhang, L., Zhou, P., & Zhou, D. (2015). A non-additive multiple criteria analysis
method for evaluation of airline service quality. Journal of Air Transport
Management, 47, 154-161.

8MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
Appendix A
Skills and Behaviour Assessment
Skills and
Work
Competency
Areas
Score /10
Self
Assessment
2nd view Essential/
Desirable
1. Using and
Developing my
Knowledge
9 8 Desirable
2. Researching,
investigating
and problem
solving
8 8 Essential
3. Communicating
outwardly
8 9 Desirable
4. Listening and
interpretation
7 7 Essential
5. Developing
solutions and
agreeing things
with people
7 8 Essential
6. Financial
understanding
and commercial
ability
8 8 Essential
7. Speaking and
presenting to
groups
4 4 essential
8. Teaching and
training others
8 7 Desirable
9. Usage of
Information and
Communication
Technology
5 4 Essential
10. Technical
appreciation and
usage of
equipment in my
area
7 8 Desirable
11. Understanding
and making the
most of
relationships
7 7 Desirable
12. Competitor/
industry
awareness
3 4 Essential
13. Taking of
initiative and
responsibility
8 7 Desirable
14. Visioning, 8 7 Desirable

9MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
creating and
inspiration of
others
Managing time
and planning
4 5 Essential
Appreciating
and applying
social
responsibility
7 7 Desirable
Behaviours,
attitudes and
Personal Style
1. Striving for
personal
Development
7 8 Desirable
2. Taking personal
responsibility to
resolve
problems
8 9 Desirable
3. Understanding
the way people
feel
7 8 Essential
4. Developing
positive
relationships
7 8 Essential
5. Keeping
focused and
productive
8 7 Desirable
6. Planning how to
achieve my
work and
personal goals
6 7 Essential
7. Managing stress 7 8 Essential
8. Managing
upwards and
sideways
8 9 Desirable
9. Contributing
positively to the
team
8 8 Essential
10. Seeking and
picking up
responsibility
7 8 Essential
11. Team working 8 8 Essential
12. Having
compassion and
care for others
7 8 Desirable
13. Using integrity
and ethics in my
judgement
8 7 Essential

10MANAGING CHANGE AND PERSONAL DEVELOPMENT PLAN
Date Learnin
g and
Develop
ment
Need
Professi
onal
Develop
ment
Strategy
Who
is
mana
ging
Resou
rces
Requir
ed
Goals Start
Date
Target
Compl
etion
Date
Method
09.12.
2017
Group
Presenta
tion
Training
course
Teachi
ng
Expert
Study
Materi
al
Develop
Group
Skills
09.12.
2017
13.12.2
017
Present
ation
07.12.
2017
Informati
on
Technol
ogy
Free IT
course
Online
Tutor
Interne
t
Proficie
nt in IT
07.12.
2017
15.12.2
017
Comput
er
Progra
ms
3.11.2
017
Industry
Awarene
ss
Confere
nce
Industr
y
Expert
s
Industr
y
special
ists
Learnin
g
competi
tive
strategi
es
3.11.2
017
4.11.20
17
Convers
ation
04.08.
2017
Managin
g Time
Project Colleg
e
Super
visor
Financi
al
Journal
s
Time
Manage
ment
04.08.
2017
10.08.2
017
Group
Work