Employee Creativity and Firm Innovation †MyAssignmenthelp.com

Question: Discuss about the Employee Creativity and Firm Innovation. Answer: Introduction There are various challenges that are faced at the time of conducting the activities of company. The challenges are faced due to the changes that are taken into consideration by the company to conduct the activities of the organization. It is important for the management to consider the risks that possessed by the company at the time of conducting the activities. It is important to have specified structure so that the activities can be conducted smoothly (BDO Australia, 2017). There are various forces that are related to the internal and external environment. These factors influence the activities of the organization. To minimize the problems that seen in the organization it is important to take accurate decisions so that activities can be conducted smoothly. There are many types of decisions that are considered so that the performance of the organization can be improved. It is important for the company to take into consideration effective strategies so that goals and objectives can be accomplished (Voigt, De Cian, Schymura Verdolini, 2014). BDO Australia is related to the international network which focuses on public accounting, consulting tax and also on the advisory organization that conducts the professional services in an effective manner. It is analyzed that the organization has more than 73000 employees who are conducting the activities in 1500 offices in more than 161 nations globally. The company is also known as one of the biggest company in this sector as various services are provided to the customers like consultancy services related to tax (Lander, Koene Linssen, 2013). This paper takes into consideration the structure of BDO and also the factors related to the environment that will impact the operations of BDO. The paper will highlight the risks that are possessed by the business and also the decisions that should be considered so that organizational performance can be enhanced. Structure of BDO It is analyzed that every business has its own organizational structure to conduct the activities of the organization smoothly. The structure of the company is designed by focusing on the overall type of the work conducted by the company so that efficiency can be maintained. The company has a hierarchal structure and also the parallel structure so that activities can be conducted smoothly. Each and every unit of the organization has a defined role but they are interdependent on each other to conduct the activities. This assists them in accomplishing their task in the given time frame. In many organizations, there are directors and chairman of the board so that activities can be conducted smoothly. Under them, there are many executives and managers in various cities. In various cities, there are various units that are named as natural resources, corporate finance and also cybersecurity. It is important for the company to evaluate the environment which is faced internally and also on an external basis. This assists the organization in implementing the strategies so that activities can be conducted smoothly. For BDO there are various forces that give direct impact on the activities of the organization (Koester, Shevlin Wangerin, 2016). There are various political decisions which are giving negative impact on the activities of the organization. Due to this, the decisions are changing in many parts of the country. The political factors have forced the accounting firms to consider innovative ways so that activities can be conducted smoothly. There are various rules and regulations that are concerned with tax and change the formation of the government in the past years. To evaluate the activities and to manage it is one of the difficult tasks as there are many rules and regulations that are considered by the company (Seabrooke Wigan, 2016). It can be analyzed that Australia is known as a developed nation and the effect is also seen in the economic crisis. The BDO business is based on the changes that are related to economic condition and also it has a relation with finance. It is seen that the customized planning is also necessary for the company and the customers so that economic condition can be managed (Graham, Hanlon, Shevlin Shroff, 2017). It is seen that there are many changes that are taking place in society and also it is important to fulfill the overall demand of the customers. Large numbers of small firms are demanding more for consultancy related to financial status. This has enhanced the overall opportunities for growth for the company (Hasseldine, Holland van der Rijt, 2011). There is a drastic change that is analyzed in the technologies which are related to accounting and finance. It has become important for the companies to consider that the technologies are installed in the best way according to the accounting software. This will assist them in offering a good experience to their consumers. It is important for the Organization to consider the strategies related to technologies so that competitive advantage can be maintained (Antonelli, 2014). The level of competition in the industry has enhanced and it is difficult for the companies to attain long-term growth. To ensure that the competition level is managed in a proper manner it is important to consider the strategies so that activities can be conducted smoothly. Internal forces It is analyzed that the demand of the employees has enhanced. This has created difficulty for the organizations to maintain good relationships with the employees by satisfying the need and wants of the customers according to the level of competition in the market. It is seen that to recruit employees in Australia is one of the major problems in the recent scenario (Liu, Gong, Zhou Huang, 2017). It is also important that organization should focus on preparing the employees so that in future if a problem arises they can face it in a proper manner. To train the employees are per the requirement is one of the difficult tasks and it should take into consideration the proper analysis of performance analysis system so that the need and wants of the employees can be taken into consideration in a proper manner. The company should focus on minimizing the overall cost of activities so that demand can be enhanced effectively. This can be one of the difficult tasks as it is seen that the cost is lowered and it create dissatisfaction. It can be one of the expensive affairs for the consulting firm as the workers are known as one of the biggest assets. It is seen that this company is associated with the financial affairs and it is important for the company to be sure of the best ethical laws. This will assist in securing the stakeholder's interests in a proper manner. Corporate governance is one of the issues for BDO Australia (DesJardins McCall, 2014). Risks that currently confront the business organization There are many types of risk that are affecting the overall business of the company. It is important to understand the risk and the impact on the business. The biggest risk is related to the firm is cyber-attack. It is analyzed that cyber-attack is taking place in various parts of the country. This has enhanced the overall concern for the company and also there are many data which is related to the financial accounts of the customers. Hackers are searching for the information for their own benefit. It is also analyzed that there is a major issue which is related to the fluctuation of the economic condition on a global basis. This has enhanced the tension for the companies and also for the customers because if the decisions related to finance are taken in a wrong way then it can give a loss to the organization (Weiss, 2014). It is seen that the tension is increased globally and it has given negative impact on the activities of the company. It is also analyzed that cited company has to bring change according to the global strategy by considering the political situations. Decisions that are considered by the company to increase the performance There are many decisions which are taken by the company so that the performance can be enhanced and also success can be achieved. The new training programs have been introduced so that they can conduct the activities smoothly. This will assist in enhancing the skills of the employees by conducting the activities on the latest technologies. This will enhance the performance of the employees if latest technologies are considered (BDO Australia, 2017) HRM strategy is one of the important strategies that will help to achieve the goals. The finance unit has a great role to offer funds for attaining various strategies. Marketing will also help the company to accomplish the overall strategies and also help to understand the needs of the customers. Conclusion By evaluating the paper it is seen that BDO Australia is the largest financial consultancy organization that assist the customers in giving a various solution to the issues that are faced. There are also many internal and external forces that impact the company. Also, there are risks that are seen in the business. So, the appropriate decision should be taken so that performance of the employees can be improved. To achieve the strategy the functional units should be considered. References Antonelli, C. (2014).The economics of innovation, new technologies and structural change. Routledge. BDO Australia. (2017) Our people. [Online]. Retrieved from: https://www.bdo.com.au/en-au/our-people. BDO Australia. (2017) Publication:Global Risk Landscape 2017. [Online]. Retrieved from: https://www.bdo.com.au/en-au/insights/advisory/publications/global-risk-landscape-2017. DesJardins, J. R., McCall, J. J. (2014).Contemporary issues in business ethics. Cengage Learning. Graham, J. R., Hanlon, M., Shevlin, T., Shroff, N. (2017). Tax Rates and Corporate Decision-making.The Review of Financial Studies,30(9), 3128-3175. Hasseldine, J., Holland, K., van der Rijt, P. (2011). The market for corporate tax knowledge.Critical Perspectives on Accounting,22(1), 39-52. Koester, A., Shevlin, T., Wangerin, D. (2016). The role of managerial ability in corporate tax avoidance.Management Science,63(10), 3285-3310. Lander, M. W., Koene, B. A., Linssen, S. N. (2013). Committed to professionalism: Organizational responses of mid-tier accounting firms to conflicting institutional logics.Accounting, Organizations and Society,38(2), 130-148. Liu, D., Gong, Y., Zhou, J., Huang, J. C. (2017). Human resource systems, employee creativity, and firm innovation: The moderating role of firm ownership.Academy of Management Journal,60(3), 1164-1188. Seabrooke, L., Wigan, D. (2016). Powering ideas through expertise: professionals in global tax battles.Journal of European Public Policy,23(3), 357-374. Voigt, S., De Cian, E., Schymura, M., Verdolini, E. (2014). Energy intensity developments in 40 major economies: structural change or technology improvement?.Energy Economics,41, 47-62. Weiss, J. W. (2014).Business ethics: A stakeholder and issues management approach. Berrett-Koehler Publishers.