MGT502 Business Communication Report 1B Sample
Assessment Task
Write a critical argument on the topic selected in Assessment 1 Part A Annotated Bibliography.
Provide supporting evidence for the argument from the resources used in Assessment 1 Part A.
Please refer to the Task Instructions for details on how to complete this task.
Context
This assessment has been prescribed to appraise your’ ability to think critically and form an argument supported by evidence. It allows you to demonstrate your ability to understand the material you are using and to apply it in ways that go beyond what has beenread.
This assessment has been designed to:
• Appraise your ability to critically evaluate academic and other research to form an argument on an organisational topic that is supported byevidence.
• Enhance your writing skills so they are able to form persuasive and convincing arguments and communicate them effectively.
The resources used in Assessment 1 Part A Annotated Bibliography are expected to be utilised in this assessment to support the argument.
Instructions
1. Write a critical argument up to a page on the topic selected in Assessment 1 Part A.
2. Use the annotated bibliography resources from Assessment 1 Part A for sourcing evidence and ideas for your argument. Review the resources critically and select at least 5 to be used as references for this assessment.
3. Please consider the following factors, when forming the argument:
• A good argument is convincing whereby the premises are acceptable, the supporting evidence is relevant to the claim and provides sufficient grounds for acceptance of the claim.
• You will be expected to form an academic and financial argument in favour, or against, utilizing the communications solution in the modern workplace.
• Make a clear point and justify it.
4. Please structure your argument as follows:
• Title page
• Introduction: provide a short introduction with a claim.
• Main body: with a logical structure including supporting evidence from academic sources.
• Conclusion: a concise conclusion which restates your claim and summarises your argument.
• References: please provide the reference list on a separate page.
5. Please use at least 5 in-text citations. Indicate logical connections and use connectingwords
6. You are strongly advised to read the rubric, which is an evaluation guide with criteria for grading your assignment—this will give you a clear picture of what a successful forming an argument looks like.
Solution
1. Introduction
Communication and leadership are the most important factors in a successful organisation. The current essay argues that communication and trust play a significant role in financial management because they facilitate accurate financial information dissemination, foster transparency and accountability, develop alignment with organisational goals, encourage collaboration, and support risk management. University Assignment Help, The following section makes five sub-arguments based on the main argument.
2. Body
The timely and correct dissemination of pertinent financial information to all relevant parties is made possible via effective communication. Boies et al. (2015) state that correctly and timely disseminating financial information via effective communication lets stakeholders know the company's financial status, allowing them to make informed decisions and take significant actions. Moreover, Mokgahla (n.d.) mentioned that effective communication of pertinent financial information nourishes accountability and transparency within a company, as it assures that every relevant party have access to similar information, minimising the likelihood of misinterpretations that may lead to financial conflicts.
Trust is significant for making a transparent and accountable system of financial management. Ariratana et al. (2015) opined that trust is essential for a transparent and responsible financial management system because it builds stakeholder trust and dependability, allowing financial information to be communicated freely and honestly without manipulation or hidden objectives. As per Sharma et al. (2023), trusted financial management systems encourage ethical behaviour, reporting anomalies, and personal accountability, fostering a culture of integrity and accountability across the organisation.
Aligning financial management practices with the larger aims and objectives of the organisation relies heavily on clear and effective communication. Ramadanty & Martinus (2016) mentions that financial managers may ensure that the organisation's financial choices and actions align with its overall direction by maintaining open lines of communication with relevant teams and people and successfully conveying the organisation's strategic goals and financial aims. Chanana & Sangeeta (2021) commented that staff members can better connect their efforts and resources with the organisation's objectives when there is clear and regular communication about how financial management choices affect those goals.
Trust in the financial management system can improve teamwork and collaboration. Ruben & Gigliotti (2016) state that when team members trust each other, they share information, insights, and resources; it improves financial decision-making cooperation and problem-solving. Similarly, Poort et al. (2022) agreed that trust improves financial management choices by encouraging team members to share their perspectives, actively challenge ideas, and collaborate to discover the best solutions.
Successful risk management in financial management requires open communication lines and trust among all parties involved. Yue et al. (2019) opined that open and transparent lines of communication are essential to ensure that those who need to be aware of and understand the risks associated with financial decision-making processes. While Newman & Ford (2021) argued that an environment of trust encourages people to raise concerns, share information, and work together to develop effective ways of detecting and responding to financial problems as soon as possible.
3. Conclusion
To sum up, trust and open communication are cornerstones of successful financial management. The free flow of information aids transparency and good decision-making, and communication makes that possible by making financial details readily available and up-to-date. Trust fosters an open and responsible system, which in turn encourages ethical conduct and individual responsibility. Moreover, trust improves teamwork and bolsters efficient risk management, while communication guarantees that organisational objectives are met. Better results and a more robust financial ecosystem may be achieved by emphasising open lines of communication and trustworthy practices among financial managers.
References
Ariratana, W., Sirisookslip, S., & Ngang, T. K. (2015). Development of leadership soft skills among educational administrators. Procedia-Social and Behavioral Sciences, 186, 331-336. https://doi.org/10.1016/j.sbspro.2015.04.016
Boies, K., Fiset, J., & Gill, H. (2015). Communication and trust are key: Unlocking the relationship between leadership and team performance and creativity. The leadership quarterly, 26(6), 1080-1094. https://doi.org/10.1016/j.leaqua.2015.07.007
Chanana, N., & Sangeeta. (2021). Employee engagement practices during COVID?19 lockdown. Journal of public affairs, 21(4), e2508. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7536939/
Mokgahla, D. Evaluating the role of employee compliance with the Public Finance Management Act at the National Department of Communications and Digital Technologies, Gauteng province. https://www.researchgate.net/profile/Derick-Mokgahla/publication/371006296_Evaluating_the_role_of_employee_compliance_with_the_Public_Finance_Management_Act_at_the_National_Department_of_Communications_and_Digital_Technologies_Gauteng_province/links/646e68f337d6625c002e41b9/Evaluating-the-role-of-employee-compliance-with-the-Public-Finance-Management-Act-at-the-National-Department-of-Communications-and-Digital-Technologies-Gauteng-province.pdf
Newman, S. A., & Ford, R. C. (2021). Five steps to leading your team in the virtual COVID-19 workplace. Organizational Dynamics, 50(1), 100802. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9753911/
Poort, I., Jansen, E., & Hofman, A. (2022). Does the group matter? Effects of trust, cultural diversity, and group formation on engagement in group work in higher education. Higher Education Research & Development, 41(2), 511-526. https://www.tandfonline.com/doi/pdf/10.1080/07294360.2020.1839024
Ramadanty, S., & Martinus, H. (2016). Organizational communication: Communication and motivation in the workplace. Humaniora, 7(1), 77-86. https://doi.org/10.21512/humaniora.v7i1.3490
Ruben, B. D., & Gigliotti, R. A. (2016). Leadership as social influence: An expanded view of leadership communication theory and practice. Journal of Leadership & Organizational Studies, 23(4), 467-479. https://doi.org/10.1177/1548051816641876
Sharma, A., Gamta, V., & Luthra, G. (2023). Ensuring Patient Safety and Trust: The Critical Importance of Regulatory Compliance in Healthcare. Journal of Pharmaceutical Research International, 35(18), 1-15. http://euroarchives.uk/id/eprint/2922/1/Sharma35182023JPRI101320.pdf
Yue, C. A., Men, L. R., & Ferguson, M. A. (2019). Bridging transformational leadership, transparent communication, and employee openness to change: The mediating role of trust. Public relations review, 45(3), 101779. https://doi.org/10.1016/j.pubrev.2019.04.012
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