Effective Management and Successful Financial Management Analysis Essay

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Unccl1995

Business Finance

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I have an assignmnet for Principles of management class

My assignmnet ( Manager interview ) I did the interview and write the notes

I need someone help me to write the report paper

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9. in banking that's a really fun question because we can heat from anywhere just probably going to get their assets are in probably trillions and I'm not sure honestly Predators like Bank of America countries their assets are in the until you actually are should be around like 15 minutes or cleaners 1488and an asset size so I mean obviously they're quite a bit bigger than I but then we also compete with really small mom Pop Style Community Banks that are you know they have localized decisions on loans or other people look for mortgage companies out there that strictly do mortgage and that's something that Centennial Bank offers as well so we deal with stuff like that of course you know there's a lot of companies like apple and Amazon are trying their hand in the banking top business staff and anything like that I mean that those Services just thinks about you like a beer or something like that they're going to have a lot of similar similar sightings 10.is the company trying to be a low-cost provider of their products or services or are they trying to defend differentiate themselves from the competitors by offering better or or are they trying to focus on a limited or narrow product line or service and their industry or do they have a combination of several of these strategies I wouldn't say we're trying to be the lowest cost provider but we do understand that that is a huge driving force for consumers about where they bank they don't want to have fees all the time they just want to have their money sitting in the bank and be able to use it and safeguarded so I wouldn't say necessarily cost provider would you want to be aware of that I would say what we're trying to do and Ellen Jonesboro on again I'll just speak to mainly Jonesboro and and that strategy is were trying to differentiate ourselves with our customer service. could you give us an example and like how is the strategy different than the major competitors so it's the example and honestly I'm we try to do everything we can to be involved with what the women's yes leadership football stadium Centennial bikes all over that we have done a lot of like high school scoreboard in Pretty in niacin for some reason and we try to support like the Forum down here has plays and we try to support a lot of that just anything really that we can sponsor or help our community out with we try to do as much as we can First National Bank Arena you know all that kind of stuff 11 . as a manager how do you what do you feel are the biggest challenges for the business what are the major issues that come that the company is forcing facing that present obstacles or challenges to its success external internally technologically or competitively All of these, I would definitely say so let's say the biggest challenge ever us right now the biggest pressure I feel right now is our strategy for interest rates and growing deposits ultimately that's our goal as the retail side of the deposit and that's really hard in an environment where rights are fluctuating I guess and because sand mites are willing to pay more on deposits and some customers are going to want every little kid supposed to just the relationship if it's just going to sit in the bank for 6 months and you know we don't ever see or something anything in the past yeah I've had I've had customers but they will come in here and say well this Banks willing to give me this right can you match it can you match this or do I need to go with him and you should have that conversation with him about you know I understand why you'd want to move this is the best I can do you know this is what we're willing to offer you know when you go into that thing to you the same feeling that you come in here with you know that kind of thing do they know either way that we do and it's it's going to be worth something to him a little bit challenges facing is external all that stuff I would go back to interest rate Technologies definitely one and just trying to make sure that you know like customers can deposit on their phones now or do we just got a brand new ICM 12.company faces that if there were a solution found would make a big difference in the business before mints and financial results interest rate definitely I don't think there's ever really going to be in solution like that I mean that's just Market business performance and everything like that would be Staffing our staffing model I'm in our staffing like I said we have five parttimers here and most of those are so you know they're going to internships or they're going to other places but the training aspect of training someone to be a tell her there's just so much to look it's definitely a huge challenge because once you really trying someone they're kind of on their way out the door yes I know our cost of hiring someone and training them in a drug test and background checks and all that stuff to even get them in the door anyway I think it's been over $150,000 this year alone and that's just hiring someone I think it cost like $4,000 to hire someone and go to the training company background checks and do all that and so that's definitely a huge expense right now our turnover rate is pretty high I don't know as far as I could other banks with it's like but I just know he was here with our staffing online the way it is with all that it would make a huge difference to be able to hang on a little bit longer what are the major things that as a manager you have to control in the business to assure that the goals are met how do you control them and so back to my job is a lot of and operational making sure this Branch works as smoothly and is accurately as possible if you're not taking care of everything and making sure everything's accurate customers are not going to trust you with their money they're not going to want to keep their account go list of all deposits in by growing deposits as a company company-wide we can loan out more money and then we can make more money Do you have a specific goals full-length spectacle from the headquarter saying that this is how much we expect from you and that's why I meant we actually make our own goals original retail later in Northeast Arkansas and so we kind of make our own goes typically what I do is look at what we did last year save there where I can see the girls that we did last year I think about you know the environment interest rate stuff like that and coming up over the next year and then I typically do like a flat percentage on that and we have goals for deposit number so the dollar amount that we also have account goals for each of those like checking savings because we wanted more individuals as well when I get try to retain core deposit and what else goes we do with your percentage I want to keep people happy and what else do we do we do some goals and that are just typically of like how am I going to motivate my people you know more fun goals I guess How you manage with other employees is motivated what is the reward system in the company are employers rewarded for individual performance team performance or both are there roads Financial non-financial or mixture examples of incentives that you guys get so we do get monetary incentive but we also open a we do a lot of community involvement in all employees to become involved with that especially like part-timers and stuff to special the stuff on the weekends we do a lot of like five k's and you know stuff like that so that's kind of like a added incentives I guess cuz you're going to network a lot more that way Tobacco Connection that's our customer relationship management software and for every little thing that you do not recommend to someone and then they end up doing that you do get financial rewards for so it's different points depending on what it is but y'all are here $2 there $3 there debit card Internet Banking and e-statements that's a huge bundle so you get extra little bonus on that so there's on it and then it's management and if we get our goals or if we perform our duties discretionary that he will do an annual bonus is there a must I were sitting in the company like a gender at the city education level or something like that and an example if the company tries to do Foster diversity if so how and does the manager see any advantages to diversity absolutely so our Branch pacifically right now we you have a very up on right now in the past couple years we've had to his being a teller is that is spoken Spanish that's how we do have a African-American male here we've had an African-American woman here and we get a lot of different interviewees and it doesn't always work out but I do definitely want the diversity in here and because that we see so many people it would really probably surprise you like Jonesboro it seems very like 15 what does the managers say are the most important characteristics of a good employee in our organization how does a manager recruiter until I paid for it so definitely get employees I will try or those that are taking initiative and always like willing to be a team players little things that you do for others like I mean that's just making their job easier and their job less stressful to working like a nice calm environment like that those are the two most important things for me cuz you can always teaching skills you can always definitely like a kind of like a well-rounded experience so and I do I kind of have to look at work experience because I know if Sean has experience and you know just one less obstacle I will say it is hard for us to state with the way our shopping model and everything is someone that super involved are you going to have time for us so that's kind of hard to say that because I've been exposed to more people and are willing to motivated I guess so if you like if you have two people coming in for an interview and one of them has experienced the other doesn't but it's more qualified for other things who would just I mean honestly we've had that situation If the manager of the change to things in the business what would they be and what would be the benefit of the changes to the business okay there's a lot of stuff that I wanted to do and that I don't have time for just simply amazing person you can do everything kind of big kind of like being in the middle of everything with them sometimes I met at the same time there's a lot of times where I can't due to poaching I want to do or the motivation that I want to give them her I'm going to like it people because I'm too busy in the teller line I can it or we as a branch or too busy in the toenail I guess more streamlined approach to training and two I'm coaching and are structure that way what's up just feel like flow around the branch would probably be better cuz if you know it or you know an internship or something like that everyone else would be able to fill in and I could handle the interviewing and stuff like that a little bit easier with more time I would definitely do this but I feel like everyone everything that we would want to pay this is Sierra Leone minimum wage for tellers in I just think they're worth more I think they would maybe put in a little bit more effort as far as learning like regulations in like the deeper understanding of it as sweet a little bit more Sample APA Formatted Paper APA Research Paper (Mirano) Obesity in Children Can Medication Cure Obesity in Children? A Review of the Literature Luisa Mirano Psychology 107, Section B Professor Kang October 31, 2004 XXXX Marginal annotations indicate APA-style formatting and effective writing. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). i Short title and page number for student papers. Lowercase roman numerals are used on title page and abstract page, arabic numerals on all text pages. Full title, writer’s name, and section number of course, instructor’s name, and date (all centered). Sample APA Formatted Paper Abstract appears on a separate page. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper Full title, centered. The writer sets up her organization by posing four questions. The writer states her thesis. The writer uses a footnote to define an essential term that would be cumbersome to define within the text. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper Headings, centered, help readers follow the organization. In a signal phrase, the word “and” links the names of two authors; the date is given in parentheses. Because the author (Carmona) is not named in the signal phrase, his name and the date appear in parentheses, along with the paragraph number of the electronic source. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper Ellipsis mark indicates omitted words. An ampersand links the names of two authors in parentheses. The writer draws attention to an important article. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper The writer uses a table to summarize the findings presented in two sources. A note gives the source of the data. A content note explains data common to all subjects. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper When this article was first cited, all four authors were named. In subsequent citations of a work with three to five authors, “et al.” is used after the first author’s name. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper For a source with six or more authors, the first author’s surname followed by “et al.” is used for the first and subsequent references. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper The writer develops the paper’s thesis. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper Brackets indicate a word not in the original source. A quotation longer than 40 words is set off from the text without quotation marks. The writer interprets the evidence; she doesn’t just report it. The tone of the conclusion is objective. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper Obesity in Children 9 While none of the medications currently available is a miracle drug for curing the nation’s 9 million obese children, research has illuminated some of the underlying factors that affect obesity and has shown the need for a comprehensive approach to the problem that includes behavioral, medical, social, and political change. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper List of references begins on a new page. Heading is centered. List is alphabetized by authors’ last names. All authors’ names are inverted. The first line of an entry is at the left margin; subsequent lines indent 1⁄ 2'' (or five spaces). Double-spacing is used throughout. Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006). Sample APA Formatted Paper Source: Diana Hacker (Boston: Bedford/St. Martin’s, 2006).
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Running Head: MANAGEMENT

1

Management Report
Student’s Name
Institutional Affiliation

MANAGEMENT

2

Researchers have explained different aspects regarding the process of management in
banking and other financial businesses. In essence, it is important to know the various aspects
that involve the process of effective financial management. As a manager, the financial assets of
customers must be guarded at all costs. Everything may be regarded relative to money when it
comes to managerial investments. It is therefore vital to effectively manage the assets of a bank
carefully. We have seen how different banks have been seen to be predators. The predators...


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