Integrated Capstone Project The Several Business Issues

Question: Describe about the Integrated Capstone Project for The Several Business Issues. Answer: Introduction: Over the past few years, most of the organizations have been facing huge challenges due to the several business issues including accounting, management, and public relations. Most of the business analysts have agreed with the fact that the impact of such issues has largely influenced the flow of the business. By discussing the accounting issues of the business, it can be assessed that the organizations face challenges due to the exhausting cash flow, taxes, accounting software, etc (Bull 2014). It has been seen that most of the small organizations indeed faces difficulties due to the discussed issues. On the other hand, the management of the business also faces high difficulties due to the uncertainty in the trade. Besides this, the globalization of the business has been influencing the management in enhancing the business opportunities in an efficient manner (Weiss 2014). In the recent years, most of the multinational organizations have been trying to hold their employees sufficient ly accountable. Over the past few years, it has been seen that most of the industries have been facing challenges in retaining the growth of the business due to the enhanced employee turnover issues. Aside from this, the public relation issues also have influenced the business in many ways. Most of the small organizations have been utilizing the public relations in order to overcome the business challenges. By discussing the public relation issues, some factors of the particular issues can be identified such as credibility, multiple channels, measuring the impact of social media, and two-way public relations (Grunig 2013). In this context, the identification of the different business issues including accounting, management and the public relations have been discussed in a detailed manner. On the other hand, the influence of such issues on the business has also been investigated in context to the modern system of the business. Moreover, the strategies for reducing such issues have been discussed in this particular assignment. Identification of the professional accounting issues at the workplace: In the recent years, most of the small and medium organizations have been facing the professional accounting issues in the business. On the contrary, the large businesses also face difficulties regarding the professional accounting system. However, most of the business analysts have agreed with the fact that unlike the large organizations, most of the small companies have been facing such accounting issues due to the lack of financial professionals and the proper financial infrastructure (Borker 2012). At the very beginning of the discussion, it can be assessed that the exhausting cash flow creates challenges for the business. Most of the new organizations find difficulties in purchasing the major instrument with the available cash flow. Due to the limited cash flow, organizations often challenge to arrange the businesss requirements, which lead to the slow growth of the trade in the global market (Madawaki 2012). On the other hand, new organizations often fail to understand the busi ness taxes in an appropriate manner. Most of the business analysts have suggested that the organizations need to take adequate time for understanding the IRS dealing process. Without understanding the tax system, the organization would not be able to experience the growth of the business within the targeted timeline. When it comes to the technological advancement, it can be assessed that the accounting software plays an integral role in enhancing the business opportunities in an efficient manner. Most of the organizations find difficulties in including the updated accounting software in the business due to the huge financial requirement. The accounting software including sap, Reckon, Saasu, MYOB, and Xero have huge impacts on the business (Horngren et al. 2012). In most of the cases, the organizations need to engage proper training and development session for providing the adequate knowledge to the employees regarding the effectiveness of the included software in the business. Hence , it indicates the high financial requirement. It can be assessed that the understanding of the basics of accounting is needed for the proper execution of the business. For enhancing the business opportunities, the organizations need to recruit the staffs having adequate accounting and financial knowledge. Identification of the management issues at the workplace: Management plays an integral role in the business. An effective management would be able to enhance the growth rate of the business. For executing the business in an efficient manner, the management of the organization needs to focus on different aspects of the commerce (Dekker et al. 2013). By discussing the issues of the management, it can be discussed that recruiting the right employees for the business in one of the major challenges. Over the past decade, most of the industries have been facing such issues due to the lack of skilled employees. Due to this fact, the production rate of the organization goes down, which leads to the low profitability of the business. In the recent years, management also faces huge difficulties in reducing the employee turnover in the business (Jeston and Nelis 2014). The high employee turnover has been affecting the business in many aspects. For instance, most of the retail organizations show high employee turnover in their business. Tesco is a supe rmarket giant in the UK. However, the management of Tesco has been trying to resolve the particular turnover issues. Aside from this, there are some other aspects of the business, where the management face challenges in executing the particular task in an efficient manner. For example, sometimes, it becomes challenging task for the management to deal with the underperformed employees in the business. Apart from this, the uncertainty in the business also indicates the problematic situation for the management of the organization. For instance, in 2007, most of the multinational organizations had faced huge difficulties in retaining the business growth due to the impact of the recession (Myers 2013). On the other hand, the globalization of the business also has influences in the organization. According to Shaw and Barry (2015), the management needs to take responsibility for understanding the foreign culture in an efficient manner so that they could implement the particular knowledge i n the business for obtaining the enhanced outcomes. Hence, it can be identified that the management often faces difficulties in adopting the foreign culture. Recognition of the public relation issues at the workplace: In the 21st century, the public relations issues have created difficulties for the organizations in engaging the customers for a long period. Most of the business analysts have agreed with the fact that the management often fails to measure the impact of the social media. Through the engagement of the social media, organizations accumulate feedbacks from the consumers across the global platform (Newsom, Turk and Kruckeberg 2012). However, the organizations need to investigate the accumulated feedbacks in order to identify the key issues of the business. Without analyzing the social media feedbacks, the public relation officer would not be able to obtain the high growth in the business. Besides this, the public relation officers often avoid the concerns of the customers properly. Consequently, it creates a hazardous situation in the business. On the other hand, the lack of credibility is responsible for the disengagement of the customers in the business (Dinnie 2015). Without having t he professionalism, the public relation officers would not be able to manage the customers concerns in an efficient manner. In these days, most of the retail organizations have been facing the public relations issues due to their huge customers base. For instances, the supermarket giant called Tesco and Walmart often face challenges in managing the customers feedbacks due to the large data (Black 2013). Consequently, it creates challenges for the organization in enhancing the business opportunities in an efficient manner. Hence, it can be assessed that the public relations issues have been affecting the business and due to the influence of such issue, organizations often lose their existing customers. Without improving the public relations, organizations would not be able to obtain the high sales revenues in the business. Influence of the professional accounting, management and the public relations issues in the business: Due to the professional accounting issues, the organizations face challenges in retaining the flow of the business in an efficient manner. The exhausting cash flow would not allow the organization in arranging the proper business equipment for improving the effectiveness of the business (Parker 2012). Besides this, the low cash flow also creates a challenging situation for the organization to fulfill the sudden need of the business. On the other hand, the low cash flow also makes difficulties to the business in engaging the investors. Before investing into the business, investors always try to analysis the cash flow of the particular organization (Spence and Carter 2014). Consequently, the organization would not obtain the support from the investors during the need of the business. Moreover, the company would not be able to apply to the bank for a mortgage. Besides the exhausting cash flow, the issues related to the tax would also create difficulties to the organization in enhancing the business opportunities in an efficient manner. The lack of financial knowledge would cause the tax issues in the business. Due to the tax-related challenges, the organizations often lose the brand value in the domestic market as well as in the international market. Aside from these issues, the organizations also need to focus on involving the improved accounting software in the business. For example, the accounting software including SAP, MYOB facilitates organizations in tracking the employee data in an efficient manner (Ngwakwe 2012). Hence, it can be assessed that the lack of this advanced software, the organization would not be able to execute the business in an appropriate manner. Moreover, the disengagement of the technological advancement in the organization would cause huge challenges for human resource management. Hence, the accounting software plays an integral role in the business, as it provides adequate opportunities in upholding the business process management thro ugh a systematic structure. The management of the business also faces huge challenges in executing the workflow in an appropriate manner. Over the past few years, most of the organizations have been trying to reduce the managerial conflicts for enhancing the business opportunities. Besides this, the managerial issues not only creates challenges in the workplace but also responsible for decreasing the effectiveness of the business (Weske 2012). In most of the cases, the management tries to involve the skilled professionals into the business for enhancing the flow of the business. Moreover, the particular issue is indeed responsible for slowing down the production process in the business. Aside from this, leadership and internal issues also have created intricacies to the management in the organization. Most of the organizations have been facing the huge involvedness due to the increasing internal managerial conflicts (Bryman and Bell 2015). Due to this particular issue, organizations often fail to retain the pro ductivity of the business in an efficient manner. For example, multinational organizations face intricacy due to the change management in the business. Due to the change management in the business, employees face difficulties in accepting the new structure, which makes them low in productivity (van Aken et al. 2012). Over the years, the public relations management plays an important role in enhancing the customers engagement in an effectual manner. Due to the public relation issues, most of the organizations lose their existing customers, which indicate the disadvantage for the business. For obtaining the long-term sustainability in the business, the organization needs to involve the proper public relation management in the process (Dozier, Grunig and Grunig 2013). Due to the improper public relation managing system, the organization faces customer disengagement in the business, which leads to them experiencing loss in the trading process. Besides this, the challenges in the public relations management would decrease the brand reputation in the domestic market as well in the international market. Hence, it can be assessed that the issues of public relation not only affects the customer engagement but also creates intricacies in retaining the brand value across the global platform. Applied knowledge in solving problems at the workplace: By conducting this particular study, it can be assessed that the discussed issues can be reduced through strategy implementation. By analyzing the issues of the accounting management, it can be identified that the lack of financial knowledge is responsible for obtaining the slow growth in the business. For diminishing such issues, the organizations need to engage the skilled professional having adequate financial knowledge. In the recent years, most of the workplace issues are related to the management and public relation. Most of the business analysts have agreed with the fact that the management conflicts happen due to the ineffective communication with the employees. Moreover, the management needs to understand the issues of the employees in order to provide enhanced work culture in the business. Besides this, for reducing the public relations issues, the organization need to form a team for identifying and tracking the customers concerns in an efficient manner. Without diminishin g the public relation issues from the business, the organization would not be able to enhance the customers base, and it might affect the brand value of the business. In most of the industries including retail industry, telecommunication industry, and the tourism industry, the organizations focus on upholding effective public relations for the growth of the business. Strategies to reduce issues from the business: For reducing the accounting issues, the organizations need to involve the skilled professional into the business. Without having the skilled financial knowledge, the individual would not be able to reduce the accounting challenges in an efficient manner (Fleischmann et al. 2014). The organizations need to enhance the cash flow of the business in order to execute the business in an effectual manner. Without enhancing the cash flow in the business, the management would not be able to engage the important requirements of the business, which might create difficulties in obtaining the desired growth in the domestic and international market. Besides this, the management needs to clear the tax according to the regulation so that it could facilitate them in retaining the business flow properly. For reducing the tax issues of the business, the management would engage some professional tax consultants, who would provide adequate guidance to the organizations in diminishing such challenges in a n efficient manner. Finally, the engagement of the professional accounting software is needed in the business for tracking huge data in a structural manner. For accomplishing this particular process, the organizations need to spend adequate financial resources in the business. Hence, the management would involve the investors in the business for including these advanced technologies. For reducing the above-discussed management related issues, several strategies need to be followed in an efficient manner. The management needs to focus on recognizing the employees in the business in order to motivate them at the workplace. Without recognizing or motivating the employees, the management would not be able to reduce the employee turnover issues. On the other hand, the workplace conflicts need to be reduced through the effectiveness of the management. For reducing the managerial conflicts, the management should focus on the effective communication. By conducting the effective communication, the managers would be able to understand the issues of the employees, which may lead to the enhancement of the business process management. By reducing the public relation issues, the organization would be able to engage a huge number of customers in the business. The public relation officers need to provide the adequate training session to the employees in order to improve the business opportunities. In most of the cases, organizations often fail to track customers feedbacks on a regular basis. Consequently, it creates difficulties for the management in identifying the key development areas in the business. For reducing such issues from the business, the organization needs to form a team to investigate the multiple channels, where the customers provide their valuable feedbacks and suggestions. Hence, it can be assessed that the process of measuring the impact of the social media would be the best-fit solution for diminishing the public relation issues. Finally, the PR professionals should be recruited in the business based on their individual credibility, accuracy, professionalism and the experiences. Conclusion: It can be concluded that most of the organizations have been facing several challenges in the business due to some particular issues including professional accounting, management, and the public relations. In this particular assignment, the issues of the management, accounting, and public relation have been identified in context the different industries. Moreover, the research paper has highlighted the influence of such issues in the business. In this paper, for diminishing the discussed issues from the business, different strategies have been discussed in a detailed manner. Hence, it can be assessed that the particular assignment would provide adequate knowledge to the future researcher in understanding the most common business issues including professional accounting, public relations, and the management. References: Black, S., 2013.Practice of Public Relations. Routledge. Borker, D.R., 2012. 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