Broadening the managerial perspective involves implementing new methods of accounting and reporting of the financial data. Managerial perspective should not be limited to whatever that has been done in the organization, new techniques as well as innovative methods to report the transactions should be developed. Managers have a tendency to continue with whatever practices that are being implemented in an organization, sometimes managers are averse to any occurrence of change. Broadening the perspective into new methods of reporting benefits the organization as a whole. Managers also do not wish to take risk for any changes in the organization as it might lead to resistance from employees as well as might increase the industry risks. Proper communication and leadership can avoid the issues caused due to resistance from employees.
Managers should also aim to make the reporting functions easier and should not stick to what was already being practiced for the previous years. Innovation and proper reporting can result into good practice for the organization. Broadening the managerial perspective also involves encompassing the various methods of accounting prevailing in the field. The most appropriate and suitable method for accounting should be chosen which helps prepare an adequate report as well as provides the necessary information. Managers should be open to the idea of completely changing the methods of accounting and reporting. It might require research as well as training but it will lead to better accounting and result in savings of cost. Managers should also encourage bottom up communication so as to know the ideas and opinions from the employees. Top down communication is always followed in an organization but bottom up communication always provides more information about the organization to the managers.
Broadening the managerial perspective also consists of doing away with unnecessary procedures or documents. Traditional accounting methods involve a lot of unnecessary procedures and preparation of documents, the managers may allow the employees to do away with them. Efficiency of the work should be given importance as compared to the amount of time put in the work. Training as well as knowledge about the industry trends should always be maintained. A manager should be open to ideas and methods which are emerging in the industry, the most suitable one should be adopted for the organization. He may want to speak to other managers or members of the organization before implementing a change.
Bibliography
Prasad Kaipa, N. R. (2013, Mar 15). Six ways to shift and broaden your perspective and lead more effectively. Retrieved from Dowser: http://dowser.org/six-ways-to-shift-and-broaden-your-perspective-and-lead-more-effectively/
