Question

Objective: To provide you with an opportunity to provide support to ensure that team members can competently perform required roles associated with the management of finances

Activity: What types of support does your organisation offer to team members in completing their required roles in regards to managing finances? Describe how you have provided this type of support to the team within the last 12 months. Why was this support needed? What resources or personnel did you draw on? What sort of training, coaching or mentoring did you provide? (minimum 250 words)

Answer 1

Answer

The role of each of the team member defines the responsibility which the team members have to perform and act based on a certain situation associated with it. If the team members in the organization perform with their full potential based on the responsibilities provided to them.

The business needs to track the performance of the team members along with that providing assistance to the team members is also required to ensure that the work is completed. A tremendous amount of support for the last 12 months is needed to ensure that the job is done based on the requirement. Providing supporting files and documents is extremely needed to get the job done and feedback from the client’s end will help to enhance the entire process which is associated with it. This support is significant not only for the entire team but for the business as well as it will help the organization to grow and prosper. The key elements behind the success are the training, coaching or mentoring provided to the team member before undertaking the actual work. The efficiency in the team effort depends on the effectiveness in the coaching or mentoring method provided to the personnel associated with the team members. The technological upgrade will be more effective in helping the team members with IT related support to ease the method of working. It is significant for the team members to utilize the available resources fully and effectively.The errors or chances of fraud during the operation process must be reduced to enhance the overall management of finance. Segregating the responsibilities among the team members will help the organization to enhance the financial performance and, in the future, it will help the business to undertake the new projects and opportunities.