Finance Department of Emerson

After undertaking the research needed to carry out this investigation through methods using primary and secondary data, conclusions can be made in relation to the objectives and aims of this project, titled: “To investigate the re-organisation methods and outcomes of the Finance Department of Emerson & Son’s Ltd, Craigavon” At the beginning of my investigation, I set myself three objectives. I knew that setting objectives would be beneficial to me, as they would provide a sense of direction as to where the investigation was going. My objectives enabled me to realise the goals, which needed to be achieved in order to successfully complete the investigation. Another important factor in which I had to consider early days in this investigation was to set myself a set of realistic objectives that were attainable, as I didn’t want to waste any time and effort trying to fulfil impossible objectives.

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I will discuss each objective thoroughly in my evaluation. Objective One: Identify and examine objectives behind the re-organisation. For my first objective, I set out to identify and investigate the objectives behind the re-organisation. Initially, re-organisations occur due to several factors including management of change, the hierarchy of the business, and retraining of staff to name a few. The objectives behind the re-organisation is primarily the most important factor to consider for any business, therefore should be researched in great detail.

By the means of primary research, I was able to identify Norman Emerson’s objectives behind the re-organisation of their Finance Department. Prior, to the restructure, the Finance Department endured several drawbacks to their previous manual system, including it to be time-consuming and inefficient, as up-to-date figures could not be obtained promptly. Therefore, a re-organisation was effectively needed.On achieving this information, I began to wonder if all points could be attainable, through a basic “Off-the-Shelf” piece of software.

However, I was notified that the business had opted towards investing a great deal of capital into a purpose built system designed by a computer analyst to meet their needs. It became clearer to me that although the business is risking a lot of capital to achieve the re-organisation, not only through obtaining the I.T equipment but also through training their staff members, although I felt that it would be a success, making this sound judgement on the information obtained by the management interview.

I was able to use both the Internet and computer textbooks to identify advantages to a computerised information system, which I obtained several factors, which induced my judgement further that the re-organisation would be a success, as it would simultaneously achieve the objectives set out by the department. Since the new computerised system will be designed solely, for Emerson & Son’s Finance Department, it added promise to the success of the re-organisation. If the system set up, was able to achieve the objectives set out by the Department, then I don’t see a problem with the re-organisation failing, helping the business to be more competitive against rival firms.

Objective Two: Analyse the extent to which the objectives have been achieved. A very important factor in this investigation, which needed to be identified, was to analyse the extent to which how the objectives behind the re-organisation was achieved. Obtaining this information is very helpful to complete this investigation. From primary research, namely questionnaires and interviews I was able to achieve the information to complete this objective. I felt that employees, opinions would be most beneficial as they are the ones that have direct contact with the new and improved system.

From the employee questionnaires, I collated constructive information. I was able to clearly identify employee opinion towards the re-organisation, with 65% in favour agreeing that it helped with their workload and 35% feeling it could be improved as they endured several problems with the system. However, I am not surprised at this result as with many systems problems are due to occur. In addition, after carrying out the management interview, it became clear that each objective had been achieved however had a few problems with achieving them. How they were achieved: 1. Assist in Decision Making: Management found that the system enabled them to access needed data on request.

2. Improve understanding across the company on setting targets and agreeing budgets. 3. Improve quality and accuracy of financial information- Management of the finance department obtained financial information to allow them to monitor the department’s performance. 4. Speed up processes for producing information- was achieved as company sponsors were able to access up-to-date and accurate information when requested.

After analysing the first two objectives both by using sources of primary and secondary research, and taking into consideration the management opinions on how the objective were set, how they were achieved and the problems concerned with achieving them, I feel more confident and I feel I am able to answer the overall aim of the investigation, as I feel the re-organisation methods were a success and the outcomes of the Finance Department of Emerson & Son’s Ltd. was quite successful however, I feel a few changes could be included to resolve the few problems occurring within the firm. Now, for my third aim I will make recommendations as to how the firm could resolve problems including within the department, are to enhance employee motivation.

Objective Three: Make recommendations as to how the objectives may have been met more effectively. For my third objective, I set out to make recommendations as to how the objectives may have been met more effectively. Again, I addressed my research methods and directed a question within my employee questionnaire and asked the employees on their opinions to gather what strategies they believe would further enhance employee performance. Results of this question proved inclusive that increased training was most popular with 42% if the employee base, 33% felt increased updates would prove beneficial and 25% included improved communication would enhance employee performance.