Business Report of DEF Company
Executive Summary
This report focuses on DEF company which focuses on providing financial advice to individual clients and organizations in Australia. The success of the company is based on its human resources which provide key expertise, strategic direction, and change management. The planning aspects of this organization involve the financial planning which is based on ensuring the organization achieves its objectives while reducing the operational costs. The environmental scan demonstrates that DEF operates in a favorable environment characterized by good economic performance, political situation, and policies that encourage business as well as the availability of experienced human resources. However, the industry is often disrupted by emerging technologies which creates the need for the industry players to adopt approaches that can ensure effective response to the technologies. The virtual team is selected as the most effective option for the new division since it offers a chance to get key expertise required and reduce the operational costs. Virtual teams also provide an opportunity to effectively respond to changing customer needs. The leadership style that is effective for this team involves the situational leadership while performance-based recognition and rewards have been identified as the most effective in promoting performance. The research has also identified communication and control options as critical to the achievement of the overall organizational objectives.
Business Report of DEF Company
- Overview
In any organization, the overall success and ability to meet the business objectives is based on the effectiveness of the planning, organizing and leadership aspects since they motivate performance as well as provide the required strategic direction and change management. The leadership also has a key role in the planning process and managing change among the human resources which creates the need for organizations to ensure they have qualified and talented leaders in order to enhance their chances of success. In this case, DEF is an organization which was established in 1994 by three financial advisors. Today, the organization boosts as the largest specialist financial advisory firm in Australia and has more than 300 staff members along the east coast of the country; however, its network spans throughout the country. The company has its core focus on financial planning and has a vision of empowering the customers to make critical decisions in life based on the advice from the company specialists. The consideration of the company to operate three options such as virtual team, advice line team, and an Australian-based self-managed team or an overseas-based global team is a key issue of concern. In order to achieve the innovative service where clients can be referred to them by a debt, recovery organization s well as operating through financial advice phone line creates the need to have appropriate planning and resources. This report explores the importance of planning, organizing, leading and controlling the expansion model of the business based on one of the structure options which reflects best practice and ability to support the business aims or objectives.
(I.C. OAS 0099)