united nations - deloitte
DESCRIPTION
Recommendation for the Theory and Behavior in Business Organizations MBA class at Winthrop University Fall 2010.TRANSCRIPT
COLLEGE OF BUSINESS ADMINISTRATION
Denuel Thomas Fonseca Patricia Hawthorne James Tesfay Zembaba
Theory and Behavior in Business Organizations – MGMT 650
August 3, 2010
Organizational Behavior Concepts
United Nations
Presentation Outline
I. Introduction II. History III. Team Work IV. Management Style & Leadership V. Ethics VI. Recommendation
History
• Deloitte was initially started in 1849, by William Deloitte.
• William Deloitte started his auditing company after successfully auditing the Great Western Railway in London.
• In 1893, Charles Haskins and Elijah Sells implemented an auditing system with the US government that saved thousands of dollars in wasteful spending.
• After successfully assisting the US government, both Haskins and Sells offered their services to the general public in 1895.
• Between Haskins and Sells founding in 1895 and 1970, the company had merged with 26 other accounting firms, including a merge with Deloitte in 1952, in which the company was renamed to Deloitte Haskins & Sells.
History
• As the demand for public auditing increased in London, George A. Touche established an accounting firm, Touche Niven, with Ballantine Niven in 1898.
• In 1900 Touche Niven established its first office in the US, located in New York City.
History
• In 1929, the US stock market crashed and eventually led to the Great Depression.
• As a result of the Great Depression, US Congress required mandatory independent audits for all corporations in 1933 .
History
• As the economy rebounded and grew rapidly, George Bailey opened his own accounting firm in 1947.
• Bailey’s company experienced remarkable success during its first year, which ultimately led the merger with Touche Niven, forming Touche Niven Bailey & Smart.
• The company grew more rapidly and later became Touche Ross Bailey & Smart in 1960 and renamed Touche Ross in 1969.
History
• During the 1980’s, Deloitte Haskins & Sells and Touche Ross requested their accountants to provide professional advice and technical support to give the companies a competitive advantage.
• As clients of both Deloitte Haskins & Sells and Touche Ross rapidly grew, both companies agreed to merge Deloitte & Touche in 1989.
• In 1995, Deloitte & Touche developed Deloitte Consulting to provide professional services to their international clients.
• Today, Deloitte & Touche has 651 offices in 111 countries around the world, employing more than 169, 000 professionals.
History
Timeline
1849: William Deloitte
opened his own auditing company in
London
1893: Charles
Haskins and Elijah Sells
audited the US government,
ultimately saving the
government thousands of
dollars
1895: Charles
Haskins and Elijah Sells
opened their own auditing
company in the US
1898: George Touche and Ballantine
Niven open their own auditing
company in London
1900: George Touche and Ballantine
Niven open their first office in US, located in New York,
NY
1929: US Great
Depression
1933: Congress requires
independent auditing for all corporations The SEC is
created by US government
1947: George Bailey opens accounting firm due to rapid US economic growth
1947-1948: Bailey’s firm experiences
tremendous growth and merges with Touche Niven to become Touche Niven Bailey &
Smart
1952: Haskins & Sells
merger with Deloitte, becoming Deloitte Haskins &
Sells
1989: Deloitte Haskins & Sells merged with
Touche Ross, becoming Deloitte
& Touche
1995: Deloitte & Touche created Deloitte
Consulting to provide services to their international
clients
Today: Deloitte has 651
offices around the world in 111
different countries with 169,000 professionals
employed
Timeline
Team Work
• Teamwork at Deloitte is a key part of the business.
• Every member of the audit staff is assigned to teams that will serve Deloitte’s clients in a scheduled period of time.
Team Structure
• Communication
• Cross-functional teams
• Conflict
• Trust issues
Team Work Issues
Team Work Recommendations
• Communication: Partners should let team members comfortable to speak out.
• Cross-functional teams: increase frequency of interaction and develop a sense of mutual accountability
• Conflict: encourage communication and feedback between team members
• Trust issues: training where the coach is the senior or manager
Management Style and Leadership
• Influence the effectiveness of alternative approaches to conferencing and reporting
• Deloitte has a very rigid vertical hierarchical culture
• Lot of pressure on each lower level of individuals
• At Deloitte, a lower team spends most time at client site under a senior’s supervision
• The manager normally works with senior only.
• The contact of the manager with the staff is minimal, as well as the contact of partner with staff and senior.
• The career advance potentials are very high
Recognition
• Commitment to excellence is a priority But sometimes,
• Career opportunities are not fairly spread amongst the staff,
• It can create frustration and great disbelief in the meritocracy aspect
• Solution: Senior management should use the employee commitment surveys to look at what needs improvement.
Recognition
• The audit industry is very much concerned with the image
• Audit companies are a very competitive work place
• One’s progress in the company is strongly related to the image he conveys to others.
Image
• Highly respected brand on the audit and consulting market
• Highly efficient methodologies
• Very motivating and exhilarating working environment
Work-Life Balance
Work-Life Balance BUT
• Your attention can be monopolized and your time absorbed
• The higher you go up the ladder, the greater the expectations
• The family or the job
• Solution: Rotation programs and adjusting expectations
Ethical Environment
• The Big Picture – The Code of Ethics
• Simply having ethic code has no effect on employee behavior – It must be communicated, provided training on what it means – Put system’s in place
– Ethical officers-post Enron scandals • Sharon Allen- Deloitte Compliance officer • Annual Ethic and Workplace Survey
2010 Ethics & Workplace Survey
Ethical Decision
• Personnel goals vs. code of ethic
• Underload-Overload Continuum • Long work hours • High level of stress • Inflexible work schedule
• Lack of leadership • Lack of transparences • PCAOB Audit Findings
The Outcome: Model Behavior
Thank you
Questions & Answers
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