An executive of a public traded company job is to know run the organization and by
running the organization they hire personnel to perform certain tasks. They have vision and their
job is to see the bigger picture of their company. For example, you have the Elon Musk’s, Steve
Jobs and Jeff Bezos they have partnered and have great people working with and for them for the
success of their companies. They are also publicly traded companies.
For a public traded company to succeed a corporate executive/leader must have a
baseline understanding of the importance of budgeting, accounting and workplace conflict.
Webster says the definition of executive is having the power to put plans, actions, or laws into
effect. An executive/leader is responsible for the success of their company. Being the executive
doesn’t mean you know how to do everything, but you do understand that you need help to be
successful. To do so they must have a team of experts work for their company who specialize in
certain matters. The determining factor of an organization succeeding is budgeting, accounting
and workplace conflict. Often businesses fail due to finances, or they fail due to high turnover of
employees because of workplace conflict. In this paper I will discuss the importance of all three
and why they are needed for an organization to succeed.
An accountant is an important asset to a successful organization for many reasons. There
are many types of accountants, an organization will need more than one type of accountant for
day-to-day operations of an organization. Accountants track money that enters and leaves their
organization they also determine how much a company owes in federal, state, and local taxes.
Accounting professionals often administer payroll, pay vendors, communicate about billing
issues, and collect payments. A budget analyst is another asset to have on team to be successful.
The job of a budget analyst these analysts advise companies on spending and saving to meet their
goals. They also outline the pros and cons of making large purchases. Executives and managers
use these recommendations to make informed spending decisions for their
organizationshttps://www.accounting.com/careers/budget-analyst/. These are just a few different
types of accountants that are needed to ensure that the operation of a company is successful. A
company can’t operate without money and if money is mishandled then that will not be good for
business.
For public traded companies and companies that have investors they require a specific
type of accountant the type of accountant they require is a public account. A Public accountants
work with financial documents that clients are required by law to disclose, such as tax forms and
financial statements that corporations must provide to current and potential investors. Some
public accountants concentrate on tax matters, advising corporations about the tax advantages of
certain business decisions or preparing individual income tax returns (Robinson, November
29, 2023). A public account job is to ensure that an organization is not breaking any tax laws
and to ensure that investors, investments are protected.
There are different types of workplace conflicts I will only be discussing just a few of
them due to there being so many. The workplace conflicts that I believe are important that need
to be discussed are leadership conflict, cultural conflict and value conflict. These three are
important in my opinion to succeed. It starts with leadership; leaders are the foundation of their
department. Leaders are the ones who manages their teams and oversees that daily tasks are
accomplished. They are also the ones who communicate the vision of an organization down to
the employees if a leader lacks effective communication skills that will cause their team not to be
able to communicate with them. A good leader must demonstrate good communication, and
employees must be to trust them to handle whatever issues may arise.
Cultural conflict in the workplace is another issue in the workplace because people come
from different background and speak different languages. Everyone should be treated with
respected and kindness no matter what the cultural background is or what their position is. Value
conflict a lot of employees don’t always feel valued in organizations that is why some
organizations have such high turnover rates. They don’t feel valued, and no one wants to work
where they are not valued and appreciated.
There are no perfect people all we can do is strive to be better and learn from our
mistakes. That’s what any good executive understands that is why they hire the best and partner
with the best people to run their companies. An executive is not an accountant, budget analyst or
workplace conflict coach problem solver but they do know to have systems in place to prevent
certain things from happening. It’s all about having a great team behind you for your company to
succeed.
