Chapter 2 - Roles And Responsibilities Flashcards
What are the physical resources of an organisation?
Includes all the assets used by the origination that are of the disposal of the business and can be used to help it to achieve its objectives. These include office space, IT telecoms, websites and perhaps vehicles.
Supportive and admin roles include:
personal and executive assistants - provide support for senior managers and mangers
training officers/manager - identify training needs, design and deliver training courses, plan and coordinate
HR officers - payroll management, identify recruitment needs, conduct job analysis, handle job advertising, interview candidates, obtain references
Procurement managers - develop company purchasing policy, identify preferred suppliers and negotiate purchasing contracts
Facilities management
Business recover planners
The board concerns itself with the broad ….. Of the company.
Plans and policies
Many insurance organisations have recognised the need to encourage staff too…
Provide ideas and suggestions for improving business performance.
If the company is doing well, and wants to encourage more ideas, the type of management is…
Democratic, participative and tolerant.
In the UK, chief actuary is a statutory appointment for…
Life insurers.
Managers should establish a system for monitoring …
Results and performance
Managers must have the key skill of multitasking, managers today include awareness of…
IT management, financial, accounting, human resources, sales and marketing, in addition to having a deeper knowledge of their own specialises areas
What is the issue of time in regards to barriers to effective communication?
People are always busy, often sorting out the problems which caused the previous failure in communication. In times of change managers are very busy, but this is perhaps one of the most important exchanges of understanding.
Managers should structure and organise their teem to meet the needs of the job. They need to have regard for the size of an effective working unit, for defining jobs, for clarifying reporting relationships and for defining and clarifying ???????
Objectives
All organisations require a number of supportive of amdisnitrative roles to ensure…
The effective and smooth operation of business.
Managers should consider their responsibilities to society and the relationship between the work they control and the…
Community at large
Supervisors and team leaders are the what type of managers?
Front line
The companies act 2006 requires all public companies to have ????????????? Although a private company need not have one.
Company secretary.
Making recommendations in the appropriate level of claims provisions to hold will be the role of…
Chief financial officer
The board of directors of a company is concerned with representing the broad interests of the ????????? And ???? In the company, but does not take an active part in the daily….
Shareholders and staff. Do not take part in daily running of the company.
On the basis that no manager can possibly know all there is to know about running a business, specialist technical and operational roles exist where the job holder is in an advisory relationship to line management they do not have necessarily full authority to convert recommendations into actions and are supervised by …
Their line manager
The issue of corporate culture is important because although management involves the effective use of an organisations physical assets, it is mostly concerned with…
The effective deployment and supervision of its people
Managers now need to use new skills that fit changing working patterns, new technologies, scarcer staff resources and the gradual deregulation of domestic and international…
Commerce
The managing director, as well as being a director, is responsible for the business functions and…
Day to day activities of the company.
A manager should be what for other employees?
A role model
Making presentations to, and managing relationships with the investment analysts who prepare reports on the company’s performance and holders of the company’s debt will be the responsibility of…
Chief financial officer.
What are the two types of director and how do they differ?
- executive directors. These work full time and are given management responsibility for running parts of the business. The board usually appoints one of the executive directors to be accountable for the running of the company and is known as the chief executive officer or managing director who in turn appoints the company management
- non executive directors. Who work part time and are chosen for their particular area of expertise and do not perform an executive management role in the company. They attend board meetings and may be members of sub committees in order to provide independent views on matters such as audit, management remuneration and risk management
Managers must earn what off their team members and colleagues and through what?
Respect by developing inter personal skills and empathy with other staff.
What is the natural reserve/lack of confidence issue in regards to a barrier to effective communication?
British people above all are known to keep themselves to themselves. Many managers experience fear and believe it is better to say too little than too much.
In addition to the standard senior executive positions, a typical insurance company will have the following senior positions:
- chief risk officer
- head of internal audit
- underwriting director
- claims director
- marketing director
- head of human resources
- head of information technology
- strategy director
- investment director
Most boards are responsible for:
- overseeing the executive directors and other senior management to ensure they uphold the shareholder interests and the laws governing the conduct of business
- setting strategy, budget and other plans
- select, appraise and reward the CEO
- oversee risk management process
- ensure company’s integrity is held in legal matters, regulatory, ethical and financial reporting etc.
It is important for managers to understand the benefits of operating in other countries and ways of…
Entering new markets
In regards to individual needs, a leader should…
- agree individual objectives
- attend to any personal problems
- give praise and reward to individuals
- train and develop individuals
- recognise and use individual abilities
In a time of crisis, which management style is appropriate?
Militaristic and focused on getting the job done, because not bothered about feelings really but getting the task done.
The board would normally prepare a document setting out which matters its reserves for itself and which it delegates to the …
CEO and possibly other members of the senior executive team.
In Dr John addairs action centred leadership approach, the three key identified areas of leaders effectiveness are…
- the task, the primary need to get the job done
- the team, the need to build a cohesive unified team, a bunch of star players does not always equate to a team
- the individual, we all have a variety of needs which motivate us into action to satisfy them, to be wanted, to be useful, to have our way. If these needs are not met, we become frustrated, and this affects our performance.
Explain how this scenario can impact the other areas of leadership, disgruntled individual….
Can reduce team cohesion and influence the achievement of the task
In regards to task needs, a leader should?
- define the teams goals and objectives
- ensure the appropriate resources are available
- develop work plans and define team tasks
- allocate the work and resources
- control the work rate and quality
- check performance against plans
- adjust the plans as necessary
What is the problem of size in regards to being a barrier to effective communication?
Where there are three or more levels in an organisation, a deliberately designed communication system becomes vital. The casual approach can only work in very small units and even then a systematic method is usually found to be more helpful.
The finance director will assist in stress and scenario testing to determine…
The amount of extreme risk the company may be subject to
Managers should consider how jobs can be designed to meet the needs of staff in order to maximise their contribution and allow for job…
Satisfaction
Preparation of the financial information required by the PRA and be one of the main contracts for the PRA will be…
Chief financial officer
The emphasis in the financial services sector is on the delivery of soft services like insurance, accounting and banking. This is most commonly achieved by…
Relying on the interaction between the originations staff and its customers.
What is the issue with training in regards to barriers to effective communication?
Many managers are inadequately equipped with and uncassotmed to using organised methods of information flow. Moreover, many do not even know that it is an essential part of their duties to be skilled, however simply, in the exchange of understanding, including feedback.
In regards to management, what is control?
Every plan needs to be controlled and it is the mangers role to monitor and evaluate its progress. There are several common methods of controlling management activities.
In regards to the roles of a manger, many companies will …
Publish a document on their roles.
