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Small Vs. Big Business
Transcript of Small Vs. Big Business
– Paternalism, Power of Superiors, Reciprocal Obligations
– Loyalty, High Profits Regardless of “Unethical behaviour”, Utilitarianism, Traditional Russian Norms, "Blat"
– Making Profits, Collectivistic, Environment, Friendship
– Confucian Influence, Paternalism, Collectivism
Leadership is defined as the process of influencing individuals or groups toward the achievement of goals
Leadership is an important factor in making any type of business successful.
Role Of Accountants: providing financial information, managing financial operations, providing financial results.
Two common challenges faced by accounting: monitoring Cash Flow and keeping up to date with changing policies(especially related to taxes).
Introduction to Small and Big Business
Small Business is defined as a business that has 100 or less employees.
A big business is defined as a company that has a large number of people and most of the time they are constantly expanding worldwide making them also known as global corporations
Challenges Faced by Small and Big Businesses
Leadership in a Small Business
Easy for leaders to get to know employees personally
Vision goes hand - in - hand with leadership, leader has to know where they want the business to go in order for the business ot be successful
Vision in a business is constantly changing due to external and internal factors
Employees prefer autocratic leadership because of the small number of people
communication between employees within finance.
the accountant does not have as much say regarding how money is spent.
more opportunities to grow and be promoted within the company.
There is differences in small and big business, a big business has much more challenges than a small business, with regards to the topics we studied.
Culture & Ethics
Leadership in a Big Business
leadership is usually over looked because these companies are too busy trying to expand
leaders have to be able to inspire different kinds of people, they face a bigger challenge than small business
Leaders prefer transformational leadership so they can inspire their followers to do something that will benefit their company in the long run
Managers have less restraints and more power
Culture and ethics a result of manager's own beliefs
Improves communication throughout branches or individual workplaces
Stimulates innovation and creativity among employees
Enhances the HR department of a workplace by increasing efficiency of processes such as job recruitment and screening procedures
Used to monitor performance which stimulates increased productivity
By: Karly, Miranda, Emily, and Madison
Transitioning to new technology becomes difficult because of the lack of IT leadership
More work put into researching these new technologies before settling on which ones to purchase
More responsibility with online website updates, consumer orders and inquiries
Regular upgrading needed can be costly
Can fit new technologies faster but ignore security issues and focus on enlarged features of buyers + low cost
Must invest in new technology to remain competitive in the marketplace
IT department gains responsibility of adopting new advances while controlling cost
Costs become allocated to the increased amount of fraud monitoring needed with increased cyber security risks
Employees may be unknowingly disclosing personal info through "data leakage"
Increased carelessness when hiring new employees which can cause security issues among the company
Accounting is the action or process of keeping financial accounts.
As you compare big and small businesses, challenges, the amount of work and the way the role is divided, changes.
All roles are covered by one person
Not many opportunities to expand
Not many other people to help with situations
All successes from the companies are more beneficial for the accountant