Delivery in day(s): 4
Capstone Project Report Proof Reading Services
A workplace refers to a place where varied business activities are conducted through human personnel and other resources. It refers to a professional place where work is conducted in certain boundaries and as per the prescribed specification. It is quite evident that when all business activities are linked together, it creates certain professional issues. Through this report, an insight into the professional accounting issues, management issues, and public relations issues at the workplace of “AGL Energy” will be discussed. Further, there will be the application of strategies for solving the workplace issues. Finally, there will be a conclusion to the entire process.
AGL energy is a public listed organisation dealing in energy products. Its major operations are in both generation and distribution of electricity products. It is situated in Sydney, Australia. Being a public listed company, it has to comply with all the norms and regulations and has to present true and fair views regarding the business operations (Annual report, 2015).
It is quite evident that in an organisation various workplace issues arise, which has to be resolved within the time limits to avoid complications and chaos in an organisation. The major issues in the organisation are in the three broad areas, namely, professional accounting issues, management issues & public relations issues (Kroth & Peutz, 2011). Issues are presented as below-
Professional Accounting and Its Issues
Basically, PA is an organisation of accountants, which is managed by the experts who having great knowledge and experience about the fields and its related streams. It is compulsory for that one to be a member of this body who wants to serve under field (Noordegraaf, 2011). Some effective illustration of these fields are-
Chartered Accountant course(CA)
There is no hard and fast rule for this organisation related to their recognition. The main aim of these organisations is to provide better knowledge and also conduct exams so that they may know about the actual knowledge of the candidates who are appearing for this courses.PF conduct many courses which are related to the same field. AGL Energy also required above experts to manage their financial data for avoiding any legal consequences. Basically, the company is facing many issues with above professionals like disclosure issues, issues in conducting an audit and other policies. The company doesn't want to disclose all their policies with their professionals. AGL having their own internal auditor who is proving consultancy activities to their organisation and when professionals come from this specified body they may have their own concepts to deal with a particular aspect which may create conflicts between them and organisation is not able to achieve its desired goals effectively and efficiently. These are the major problems which are faced by an organisation (Noordegraaf, 2011).
Management and related issues
Meaning of management-
As we known effective management is a very important tool for every organisation. It is a pervasive function. It is a function which is not restricted to a business organisation only even non-business organisations are also required to manage its function. It is a universally accepted function. Many companies like HCL, Infosys, and Reliance are working effectively due to its efficient managerial skills; it includes series of activities which is performed by managers at different levels. It is an art of getting things done through others. Management also having its negative impacts like leadership issues between managers and their subordinates (Rice, 2013).
Management and its issues in AGL Energy-
AGL also facing same issues in its organisation like conflicts between employees regarding their workload, behavior issues etc. Every organisation needs a very effective leader so that their organisation may work in direction without any overlapping and wasteful activities and also try to utilize its human resources effectively. AGL Energy also facing problems in company’s internal changes like change in working manners of employees, managerial issues etc. they have to make changes in their strategies for grabbing more demand of their product in the market. If management of AGL is not working properly and fail to resolve the problem which taking place in their organisation and it adversely effects on employees loyalty, behavior, work efficiency, moral and attitude as well. The company also changes its Top- level manager which may create confusions in their management, because every person having their own method to conduct a particular task and it’s also taking the time to understand the new strategies which were frame by managers for achieving specified goals. These are the issues AGL Energy is facing recently which may negatively affect its work efficiency and increase the chances of affecting its goodwill in the market (Weiss, 2014).
Public relation issues
It is a very effective way of communication which helps to build an effective relationship between the organisation and their clients. Usually, PR is unsponsored and unpaid. It helps to promote the goodwill of the company and also expand the brand popularity of the company. PR provides a platform so that company may handle its unfavorable rumors and events which are affecting its goals and reputation. Generally, it is a very effective communication line which connects the organisation to its audiences. As we all know AGL Energy is a leading company in Australia who achieved its expertise in, electricity supply for domestic as well as commercial purpose, power generation, and related articles. According to the experts, AGL having a very good track record in the Australian market. Effective Public relation policies may help the organisation to overcome with their audience issues. Basically, customers facing problems about the supply of the electricity, change in climatic conditions and heavy changes in urbanisation and over demanding of limited resources. AGL try to persuade not only its client but their employees, stakeholders and other persons who are directly or indirectly related to the organisation in any manner. AGL wants to know about the attitude of their customers, managers, stakeholders etc. on important issues which affecting the goodwill of the company. So company issues its report with the procedure for resolving the problems. According to a current report issued in (2016) AGL try to collect personal data of its audiences and try to communicate directly to resolve these issues toward services and products of the company and other related issues (Grunig, 2013).
Knowledge applied (resolving workplace issues)
Professional Accounting issues & resolving methods
Being one of the listed organisations in Australia, the organisation is responsible for disclosure of vital financial information. The major accounting issues that arise in AGL energy led relates with the lack of proper financial communication and auditing issues.
Measures to be taken for resolving the professional accounting issues are as follows-
Internal auditing – AGL is a corporation which prepares its financial statements stating all its financial transactions and monetary changes. All these statements are audited by internal auditors. Internal auditors refer to a systematic form of a body comprised for controlling and assessing, business data & business processes (Barua, et. al., 2010). Through, internal auditing, auditors scrutinize every minor accounting activity and financial documents. This process helps in addressing any form of accounting issues and thus, helps in eliminating the errors.
Installation of accounting software for detection of fraud-Information technology is a tool that can be used to detect any form of fraud in the financial statements. Various software applications namely, Simility fraud detection, Tipalti AP Automation etc can be installed to detect any form of financial fraud (Albrecht, et. al., 2011).
Proper disclosure & communication of financial information- Financial information is the most important information for an organisation. Every organisation must make proper financial communication with the concerned person so as to eliminate any form of misleading or misconduct. The Proper medium must be chosen for financial communication. The methods through which AGL limited makes financial communication are meetings, discussions, media, reporting etc (Taylor, et. al., 2010).
Management issues & resolving methods
AGL energy is a large organisation. This organisation conducts varied activities through large human personnel. The big force of human personnel needs to be managed in a certain form, so as to maintain proper management in the organisation. There arise various management issues such as leadership issue, conflict among personnel, contradictory opinions, internal changes, staff turnover rate etc. Following are the measures which can be used to overcome the issues-
Management committee – In our organisation, there arise various personnel conflicts, which needs to properly addressed. Thereby, A management committee is formed which look into the management conflict matters and further, is able to resolve any form personnel conflicts among personnel(online-issues.com, 2017). The committee follow the following process as follows-
Proper organisational structure-In our organisation, management issues are resolved through the proper formation of organisational structure. The organisation structure refers to the system which clearly defines the allocation of activities and resources. This helps in elimination of chaos and conflicts. Every person is well-informed about the activity to perform (Luiijf & Healey, 2012).
The clearly defined line of authority-Line of authority is a systematic allocation of authorities as it clearly defines the superior- subordinate authorities. Since there are a lot of new joiners in the organisation. The new entrants must be given proper information regarding from whom to take orders from and who should it report to (Luiijf & Healey, 2012).
Public relation issues & resolving methods
Public relations refer to the communication of vital information with the stakeholders. It is an important form of conveying information with the stakeholders and to raise awareness regarding the organisation. Public relations can be done through meetings, conferences, events, press releases etc. this form relationship helps in communicating business operations and builds brand awareness (Guth & Marsh, 2016). There arises certain public relation issue in our organisation namely, miscommunication, wrong information, rumors etc which are resolved through following methods-
Use of proper communication tools – The biggest issue in maintaining public relation is the barrier in the communication tool and communication gap. Effective communication tools can help in minimizing these barriers. There should be proper utilisation of varied form of communication tools (Richmond, et. al., 2012). There are two forms of communication namely, internal communication and external communication.
Clarification of any misleading or rumor- whether it be internal or external, it is very important to clarify any form of misleading statements about the company. Our organisation uses various techniques to clarify any form of misleading statement about the organisation, such as press releases, notice, declaration etc. For instance –in our organisation, there were issues with the company that the organisation is excessively exploiting natural resources for generating electricity. This was a clear rumor about the company, which company clarified through a press release that the organisation is not making any unlawful activity and is using permissible natural resources only. Thus, the organisation clarified the misleading information and cleared its brand image (Kemp, 2016).
Improving brand image through marketing techniques- Our organisation uses various marketing techniques to improve its business operations, namely, media advertising, internet marketing etc to improve its public relations with the external world. Being a public company, the organisation has to make various declarations with the external world to maintain the public relations. Therefore, it uses various mediums such as –
Traditional advertising- through the video advertising over televisions, radios etc. It reaches to the maximum audience and spread awareness about the organisation (written.com, 2016).
Modern advertising- through the search engines and social networking sites, various advertising techniques such as search engine optimization, interaction through social networking sites etc (written.com, 2016).
According to the experts, strategies are the plans, for achieving organisation goals in a best possible way. It is a mixture of Art and Science for formulating, implementing and evaluating cross-functional decisions. Basically, it is a tool which helps to create value. AGL Energy uses better strategies which may provide purposeful action to deliver the required result. AGL gave more emphasis on a good strategy which may transform the affecting company into a profit making organisation.
Effective strategies used by AGL Energy for resolving its organisational problems in professional accounting, management, and public relation are presented below-
Professional Accountancy Strategies
According to the expert's point of view strategies which are framed for professional accounting method will provide the organisation a very good result and also increases the chances of improvement in their department. If the company follows these strategies then they will easily overcome with the issues of their organisation in a related department. Tools which are suggested by the experts will positively affect the company and it also provides help to accountants for preparing their financial statements and it also reduces its time. If both insider auditor and external auditors use the same tools then it will reduce the chances of conflictions and also a safe company from any legal proceedings. If a company provides expert knowledge to their employees when they need then it will help the company in all financial aspects. If AGL Energy accepts the advice of the expert than the company will surely achieve their set targets effectively and efficiently (Jensen, et. al., 2012).
Effective IT Tools- AGL Energy resolving its problem between Accounting professionals and their accounting department through using an effective software like Similarity fraud detection, Tipalti AP Automation. Organisation installs these tools so that they may save its organisation from fraudulent transactions. And it also reduces the possibility of confliction in future between both the departments. So that organisation may not suffer any financial loss in its expected future life (Kimmel, 2010).
Expert Accounting Knowledge- Company also give priority to expert knowledge so that organisation may update its department and related employees for future growth. They try to arrange seminars, conferences and also issue reports regarding changing taking place in accounting policies. It became very helpful for organisation and also reduces the chances of legal proceeding, and it will help to increase the knowledge level of their employees (Kimmel, 2010).
Strategies which create values and also help the company to earn a higher return as compare to those who are competitors are known as a management strategy. It involves a managerial decision, strategy formulation, environmental scanning, and control. It also works on evaluating external opportunities which provide gain to the organisation and also help the company to know its deficiency and vitality. It is a set of commitments which is very important for an organisation to work in a dynamic environment for its survival as well as for its growth (Eden & Ackermann, 2013).
Competent Leadership Strategy- Company try to use active leadership strategies to overcome the problems of management and encourage their employees for contributing in a positive way. They want their leaders motivates their subordinates in such a manner so that employees may clearly know that in which direction they have to work. And also make their subordinates to concentrates on their projects. Champions may also consider their problems and also help them for identifying appropriate alternatives so that it will not affect their work efficiency(Eden & Ackermann, 2013).
Proper Circulation of Work- Company gives intensity on proper division of work for avoiding confliction between employees regarding their work. It also reduces the chances of overlapping and wasteful activities. If company adopt this strategy then they may utilise their manpower resources in a great manner. After adopting this strategy company will grow faster and also raise their goodwill in the market. Proper division of work motivated their employee that they have to complete the particular task as soon as possible because every person who are working in an organisation having an equal division of work. So it is concluded that if the company is adopting this strategy then they will easily overcome their problems which we already discussed earlier (Eden & Ackermann, 2013).
Public Relation Strategies
Effective PR strategies help Company in all aspects of growth and other factors which are influencing the market of the company and also negatively effect on the reputation as well as turnover of the company. Strategies build a beneficial relationship between AGL Energy and publics. It helps to achieve the objective of the organisation. Effective policies help the organisation to overcome the issues with stakeholders, customers and another related person (Smith, R.D., 2013).
Effective communication-According to experts AGL have to communicate its audiences in such a manner, so that they may easily understand their needs and views which customers are expecting from their company. After all, the company is dealing in a dynamic environment and there are a large number of buyers and sellers who are dealing in homogeneous articles and services, so they have to care about their needs and expectation regarding their organisation. If a company is adopting this strategy it may reduce the chances of loss. And it also gives chances to attract public towards its company and reduces the chances for getting influenced by that one who wants to spoil their companies (Smith, R.D., 2013).
Design Contents- This strategy helps the company for capturing the market. If AGL works on design contents rather than Ads than they will attract more people regarding their articles and services which help them for achieving their goals. This will help to increase the number of users who are using their articles in their market (Smith, R.D., 2013).
This report has made a thorough investigation of various workplace issues in AGL energy limited, a public sector organisation in Australia. The report examines the professional accounting issues, management issues and public relations issues in the organisation. Various issues arise in the organisation such as accounting fraud, misleading financial information, internal changes, conflict among personnel, miscommunication with the stakeholders etc. All these issues create a negative impression about the organisation, therefore, these issues must be resolved. This report evaluates the strategies taken to resolve these workplace issues. The major techniques used are the installation of accounting fraud detection tool, proper auditing, proper organisational structure & lines of authority, effective communication tools etc. Further, the report discusses the implementation of various strategies to implement tools for resolving the workplace issues.
AGL energy ltd, 2015, “Annual report”, AGL energy Ltd.
Albrecht, W.S., Albrecht, C.O., Albrecht, C.C. and Zimbelman, M.F., 2011. Fraud examination. Cengage Learning.
Barua, A., Rama, D.V. and Sharma, V., 2010. Audit committee characteristics and investment in internal auditing. Journal of Accounting and Public Policy, 29(5), pp.503-513.
Eden, C. and Ackermann, F., 2013. Making strategy: The journey of strategic management. Sage.
Grunig, J.E., 2013. Excellence in public relations and communication management. Routledge.
Guth, D.W. and Marsh, C., 2016. Public relations: A values-driven approach. Pearson.
Jensen, K., Lahn, L.C. and Nerland, M. eds., 2012. Professional learning in the knowledge society (Vol. 6). Springer Science & Business Media.
Kemp, G., 2016. Public relations in marketing. The practice of public relations.
Kimmel, P.D., Weygandt, J.J. and Kieso, D.E., 2010. Accounting: Tools for business decision makers. John Wiley & Sons.
Kroth, M. and Peutz, J., 2011. Workplace Issues in Extension--A Delphi Study of Extension Educators. Journal of Extension, 49(1), p.n1.
Luiijf, H.A.M. and Healey, J., 2012. Organisational Structures & Considerations. Tallinn: NATO CCD COE Publication.
Noordegraaf, M., 2011. Risky business: How professionals and professional fields (must) deal with organisational issues. Organisation Studies, 32(10), pp.1349-1371.
Online-issues.com, 2017, “Introduction to online issue management”, [Online] Online-issues.com. Available at: http://www.online-issues.com/. Accessed as on- 15 Feb, 2017.
Rice, A.L., 2013. The enterprise and its environment: A system theory of management organisation (Vol. 10). Routledge.
Richmond, V.P., McCroskey, J.C. and Powell, L., 2012. Organisational communication for survival. Pearson Higher Ed.
Rowan Wagner, 2015, “Internal and external communication”. Baku oxford school.
Smith, R.D., 2013. Strategic planning for public relations. Routledge.
Taylor, G., Tower, G. and Neilson, J., 2010. Corporate communication of financial risk. Accounting & Finance, 50(2), pp.417-446.
Weiss, J.W., 2014. Business ethics: A stakeholder and issues management approach. Berrett-Koehler Publishers.
Written.com, 2016, “10 Marketing Techniques from Traditional Advertising”, [Online]written.com. Available at: http://writtent.com/blog/10-marketing-techniques-content-marketers-traditional-advertising/. Accessed as on- 15 Feb, 2017.