Business Development Conference and Exposition †MyAssignmenthelp

Question: Discuss about the Business Development Conference and Exposition. Answer: Introduction The Australian Sports Commission is the Australian Governments agency which is responsible for distributing funds and providing strategic guidance and leadership for sporting activity in Australia(Drew, Blanch, Purdam and Gabbett, 2016).The purpose of the assignment here is to fill the position of Finance manager and define the key roles and responsibilities, competencies and attributes for the job position, also to analyse the consideration of diversity in filling the above mentioned position. The main responsibility of a Finance manager at Australian Sports commission to monitor its finances, analyse the sources of money and the cost centres of the company, advise the management and senior managers on ideas to maximize profits and steps to ensure financial stability in the system. Other set of responsibilities are: Raising Funds- ASC is the governments leading sports agency which develops supports and invests in all forms of sports. In order to do so, the body works directly with multiple investors, institutional investors, government bodies and many more. In order to do so, the finance manager has to raise funds to support the activities for the business organization and strike a balance between its debt and equity ratio Allocation of Funds to different department- As mentioned the funds have to be raised for variety of purposes like Training of sportsperson, building infrastructure, securing inventory, manpower recruitment, marketing and so on. Thus, the role of Finance manager is to ensure that the funds are allocated on the basis of need, urgency and strategic advantage. Profit planning and Control- ASC suffered loss in Millions in the year 2015-16 due to mismanagement and improper planning. Thus the duty of the Finance manager here is to ensure that the funds are raised, allocated and used in such a manner that the government body is profitable. He has to also ensure the expenditure of money is happening according to the strategic objectives of the company and not haywire. Creating financial projections and Budgets- A Finance manager has to ensure that he creates budgets and draws financial projections for at least a minimum period of 5 years. He has to ensure that the projections and the budgets are realistic and supported either historically or on the basis of strategic planning (Johnson, Leenders McCue, 2017). Investment of Funds- Another function of the Finance manager is to ensure that he harvests the profits and invest them with due diligence. The purpose of investing fund is to create wealth for the organization and park money for future capital need (Korhonen, Laine Martinsuo, 2014). Competencies of Finance Manager Technical Skills It involves collecting, storing and processing information to be shared with the stakeholders. Financial accounting, tax strategy, planning and compliance are some of the task included (Coleman, 2014). Business Skills Using the information of the business and the organization, turning the financial data into valuable insights for the organization (Cech CHadt, 2015). People Skills Skills are required to influence the decision makers, their action and behaviour towards the growth of the organization. Leadership Skills Team building, managing change and driving financial performance are the key tasks (McBride, 2016). As the Key role of the finance manager is to raise funds, allocation of funds and investment of funds for the improvement in the sports facilities and training of the Australian sportspersons. Thus, it is very much advised that the person has to be from Australia, in order to ensure that the benefits of Australian sportsperson are kept above all, more so, because the person would be in a better position to understand the micro-environment surrounding the Australian sports commission. References Cech, P. and Chadt, K., 2015, June. Project Manager And His/Her Competencies. InInternational conference knowledge-based organization(Vol. 21, No. 1, pp. 165-169). De Gruyter Open. Coleman, L., 2014. Why finance theory fails to survive contact with the real world: a fund manager perspective.Critical Perspectives on Accounting,25(3), pp.226-236. Drew, M.K., Blanch, P., Purdam, C. and Gabbett, T.J., 2016. Yes, rolling averages are a good way to assess training load for injury prevention. Is there a better way? Probably, but we have not seen the evidence.Br J Sports Med, pp.bjsports-2016. Johnson, P.F., Leenders, M.R. and McCue, C., 2017. A comparison of purchasings organizational roles and responsibilities in the public and private sector.Journal of Public Procurement,3(1), pp.57-74. Korhonen, T., Laine, T. and Martinsuo, M., 2014. Management control of project portfolio uncertainty: A managerial role perspective.Project Management Journal,45(1), pp.21-37. McBride, J., 2016, January. From Safety Leader to Business Partner-Bridging the Gap. InASSE Professional Development Conference and Exposition. American Society of Safety Engineers.