MANAGEMENT PERSPECTIVES

Management Perspectives

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Executive Summary

The paper aims at identifying, assessing and evaluating the challenges faced by an organization. It goes onto highlight the primary activities, products, structures and markets of the organization mentioned. It goes onto describe the challenge which the organization is facing, including the source of the challenge and the likely effect on your organization as a whole. Analysis of internal and external environments and the likely impact on key stakeholders is also discussed. An outline is provided as to how the challenges will be responded to. The discussion also includes the strategic considerations and planning issues, required changes to organizational structure, how planning and implementation will be approached and how various roles of management and functions of management will be employed. The results are then concluded by highlighting the ethical issues which may arise in the course of responding to this challenge and how you would deal with them. The company chosen for this purpose is Ernst & Young. The entire discussion deals with how Ernst & Young manage and responds to the challenge that it faces and the ethical issues that it encounters in the process. The discussion also highlights the strategies adopted by Ernst & Young and what parameters it uses to measure the progress in managing and meeting the challenge identified.

Management Perspectives

To: Management Board

From: Manager

16 July

Subject: Coping with challenges arisen

Introduction

Organizational challenges are faced by organizations in the normal pursuit if their objectives. Such challenges can arise anytime and anywhere. It is how a business deals with such changes that define the success of the organization. Certain challenges can have widespread implications that may even result in the loss of competitive advantage which is crucial to many entities. In discussing the dilemma mentioned above Ernst & Young LLP will be used, an organization I have worked for in the past (Ey, 2013). It is not how big the challenge is, it is how that challenge is managed and controlled. If challenges are ignored and are left unaddressed they can have detrimental effects on the performance of the organization. Challenges faced should be weighed on the basis of risks and given an appropriate risk score i.e. likelihood x impact of risk. It is this risk modeling that will allow the enterprise to allocate proper attention and allocate sufficient, adequate and appropriate resources. Challenges may come from inside and outside the organization. In the context of Ernst & Young, challenges faced will primarily be of external nature.

Discussion

Overview of Ernst & Young - Background

Ernst & Young, more commonly known as EY, is a multinational professional service provider firm. It is a public practice firm that deals in the audit of entities and provides consultation services. Audits provided are in line with the statutory requirements and consultancy services include the provision of financial services and risk advisory. Founded in 1849 it is one of the Big 4 accountancy firm, with size measured in terms of revenue. It recorded total revenue of US ...