Emerging Workplace Trends that Challenge the Organization

Emerging Workplace Trends that Challenge the Organization The role of the Human Resource Professional is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. Organizations that do not put their emphasis on attracting and retaining talents may find themselves in dire consequences, as their competitors may be outplaying them in the strategic employment of their human resources. With the increase in competition, locally or globally, organizations must become more adaptable, resilient, agile, and customer-focused to succeed. And within this change in environment, the HR professional has to evolve to become a strategic partner, an employee sponsor or advocate, and a change mentor within the organization. In order to succeed, HR must be a business driven function with a thorough understanding of the organizations big picture and be able to influence key decisions and policies. In general, the focus of todays HR Manager is on strategic personnel retention and talents development. HR professionals will be coaches, counselors, mentors, and succession planners to help motivate organizations members and their loyalty. The HR manager will also promote and fight for values, ethics, beliefs, and spirituality within their organizations, especially in the management of workplace diversity. This paper will highlight on how a HR professional can meet the challenges and Trend of HR Professional, how to motivate employees through gain-sharing and executive information system through proper planning, organizing, leading and controlling their human resources. II. Review of Literature and Studies Organizations have entered a new era characterized by rapid, dramatic and turbulent changes. The accelerated pace of change has transformed how work is performed by employees in diverse organizations. Change has truly become an inherent and integral part of organizational life. Several emerging trends are impacting organizational life. Of these emerging trends, five will be examined: globalization, diversity, flexibility, technology, and networks. These five emerging trends create tensions for organizational leaders and employees as they go through waves of changes in their organizations. These tensions present opportunities as well as threats, and if these tensions are not managed well, they will result in dysfunctional and dire organizational outcomes at the end of any change process. Globalization To stay competitive, more organizations are embracing offshore outsourcing. Many functions are being shifted to India, the Philippines, Malaysia, and other countries for their low labor costs, high levels of workforce education, and technological advantages. According to the 2002-2003 Society for Human Resource Management (SHRM) Workplace Forecast, companies such as Ford, General Motors, and Nestle employ more people outside of their headquarters countries than within those countries. Almost any company, whether in manufacturing or services, can find some part of its work that can be done off site. Forrester Research projects that 3.3 million U.S. service- and knowledge-based jobs will be shipped overseas by the year 2015, 70 percent of which will move to India. Communication and information sharing are occurring across the globe in multiple languages and multiple cultures. Global competition and global cooperation coexist in the new world economy. One major consequence of globalization is greater mobility in international capital and labor markets. This creates a global marketplace where there is more opportunity, because there are more potential customers. However, there is also more competition, as local companies have to compete with foreign companies for customers. According to Dani Rodrik, professor of international political economy at Harvards Kennedy School of Government, the processes associated with the global integration of markets for goods, services, and capital have created two sources of tensions. First, reduced barriers to trade and investment accentuate the asymmetries between groups that can cross international borders, and those that cannot. In the first category are owners of capital, highly skilled workers, and many professionals. Unskilled and semiskilled workers and most middle managers belong in the second category. Second, globalization engenders conflicts within and between nations over domestic norms and the social institutions that embody them. As the technology for manufactured goods becomes standardized and diffused internationally, nations with very different sets of values, norms, institutions, and collective preferences begin to compete head on in markets for similar goods. Trade becomes contentious when it unleashes forces that undermine the norms implicit in local or domestic workplace practices. Diversity According to Thomas (1992), dimensions of workplace diversity include, but are not limited to: age, ethnicity, ancestry, gender, physical abilities/qualities, race, sexual orientation, educational background, geographic location, income, marital status, military experience, religious beliefs, parental status, and work experience. The future success of any organizations relies on the ability to manage a diverse body of talent that can bring innovative ideas, perspectives and views to their work. The challenge and problems faced of workplace diversity can be turned into a strategic organizational asset if an organization is able to capitalize on this melting pot of diverse talents. With the mixture of talents of diverse cultural backgrounds, genders, ages and lifestyles, an organization can respond to business opportunities more rapidly and creatively, especially in the global arena (Cox, 1993), which must be one of the important organizational goals to be attained. More importantly, if the organizational environment does not support diversity broadly, one risks losing talent to competitors. This is especially true for multinational companies (MNCs) who have operations on a global scale and employ people of different countries, ethical and cultural backgrounds. Thus, a HR professional needs to be mindful and may employ a Think Global, Act Local approach in most circumstances. The challenge of workplace diversity is also prevalent amongst Singapores Small and Medium Enterprises (SMEs). With a population of only four million people and the nations strive towards high technology and knowledge-based economy; foreign talents are lured to share their expertise in these areas. Thus, many local HR professional have to undergo cultural-based Human Resource Management training to further their abilities to motivate a group of professional that are highly qualified but culturally diverse. Furthermore, the HR professional must assure the local professionals that these foreign talents are not a threat to their career advancement (Toh, 1993). In many ways, the effectiveness of workpla ce diversity management is dependent on the skilful balancing act of the HR Professional. One of the main reasons for ineffective workplace diversity management is the predisposition to pigeonhole employees, placing them in a different silo based on their diversity profile (Thomas, 1992). In the real world, diversity cannot be easily categorized and those organizations that respond to human complexity by leveraging the talents of a broad workforce will be the most effective in growing their businesses and their customer base. In order to effectively manage workplace diversity, Cox (1993) suggests that a HR Profesional needs to change from an ethnocentric view (our way is the best way) to a culturally relative perspective (lets take the best of a variety of ways). This shift in philosophy has to be ingrained in the managerial framework of the HR Manager in his/her planning, organizing, leading and controlling of organizational resources. Flexibility Globalization and diversity trends are forcing organizations to become more flexible and adaptable. To be able to function globally and to embrace diversity, HR Professional in organizations have to become more flexible and develop a wider repertoire of skills and strategies in working with diverse groups of people in the workplace as well as in the marketplace. The response to increased diversity has, in many cases, been increased organizational flexibility. Some organizations allow workers to have very different work arrangements (e.g. flex-time) and payment schedules. Some organizations (and workers) have found it convenient to treat some workers as independent consultants rather than employees. In certain occupations, advances in communication and information technologies have enabled telecommuting -working at home via computer. One consequence of this is the blurring of boundaries between work and home, and where and when work occurs. The benefits of greater flexibility may be countered by the negative consequences of working 24/7 including higher stress and burnout. The response to increased competition, however, has resulted in a tension generated by the demands to be flexible and yet maintain some stability as changes are implemented in organizations. To stay competitive, organizations are constantly changing and restructuring to increase flexibility and decrease costs. Business process reengineering, business process out-sourcing, job redesign, and other approaches to optimize business processes have been implemented to increase operational and process efficiency while reducing the costs of doing business. Changes in business and operational processes need time to stabilize for employees to learn the new processes, become familiar with them, and be able to operate effectively and efficiently. Yet, competitive pressures can cause organizations to go through a series of changes without giving employees adequate time for learning and training, and for the benefits of the change to be fully realized in the organization. This tension is well-captured by Columbia Business School professor Eric Abrahamson in his book, Change Without Pain (2004) in which he discussed how organizations can go through change overload and how employees can experience change fatigue and burnout. Professor Abrahamson proposes creative recombination as an alternative approach to the highly destructive, destabilizing and painful changes caused by creative destruction. Technology A Human Resource Management System (HRMS, EHRMS), Human Resource Information System (HRIS), HR Technology or also called HR modules, or simply Payroll, refers to the systems and processes at the intersection between human resource management (HRM) and information technology. It merges HRM as a discipline and in particular its basic HR activities and processes with the information technology field, whereas the programming of data processing systems evolved into standardized routines and packages of enterprise resource planning (ERP) software. On the whole, these ERP systems have their origin on software that integrates information from different applications into one universal database. The linkage of its financial and human resource modules through one database is the most important distinction to the individually and proprietary developed predecessors, which makes this software application both rigid and flexible. The function of Human Resources departments is generally administrative and not common to all organizations. Organizations may have formalized selection, evaluation, and payroll processes. Efficient and effective management of Human Capital has progressed to an increasingly imperative and complex process. The HR function consists of tracking existing employee data which traditionally includes personal histories, skills, capabilities, accomplishments and salary. To reduce the manual workload of these administrative activities, organizations began to electronically automate many of these processes by introducing specialized Human Resource Management Systems. HR executives rely on internal or external IT professionals to develop and maintain an integrated HRMS. Before the client-server architecture evolved in the late 1980s, many HR automation processes were relegated to mainframe computers that could handle large amounts of data transactions. In consequence of the low capital investmen t necessary to buy or program proprietary software, these internally-developed HRMS were unlimited to organizations that possessed a large amount of capital. The advent of client-server, Application Service Provider, and Software as a Service or SaaS Human Resource Management Systems enabled increasingly higher administrative control of such systems. Currently Human Resource Management Systems encompass: 1. Payroll 2. Work Time 3. Benefits Administration 4. HR management Information system 5. Recruiting 6. Training/Learning Management System 7. Performance Record 8. Employee Self-Service The payroll module automates the pay process by gathering data on employee time and attendance, calculating various deductions and taxes, and generating periodic pay cheques and employee tax reports. Data is generally fed from the human resources and time keeping modules to calculate automatic deposit and manual cheque writing capabilities. This module can encompass all employee-related transactions as well as integrate with existing financial management systems. The work time gathers standardized time and work related efforts. The most advanced modules provide broad flexibility in data collection methods, labor distribution capabilities and data analysis features was outdated. Cost analysis and efficiency metrics are the primary functions. The benefits administration module provides a system for organizations to administer and track employee participation in benefits programs. These typically encompass insurance, compensation, profit sharing and retirement. The HR management module is a component covering many other HR aspects from application to retirement. The system records basic demographic and address data, selection, training and development, capabilities and skills management, compensation planning records and other related activities. Leading edge systems provide the ability to read applications and enter relevant data to applicable database fields, notify employers and provide position management and position control not in use. Human resource management function involves the recruitment, placement, evaluation, compensation and development of the employees of an organization. Initially, businesses used computer based information systems to: à ¢Ã¢â€š ¬Ã‚ ¢ produce pay checks and payroll reports; à ¢Ã¢â€š ¬Ã‚ ¢ maintain personnel records; à ¢Ã¢â€š ¬Ã‚ ¢ pursue Talent Management. Online recruiting has become one of the primary methods employed by HR departments to garner potential candidates for available positions within an organization. Talent Management systems typically encompass: à ¢Ã¢â€š ¬Ã‚ ¢ analyzing personnel usage within an organization; à ¢Ã¢â€š ¬Ã‚ ¢ identifying potential applicants; à ¢Ã¢â€š ¬Ã‚ ¢ recruiting through company-facing listings; à ¢Ã¢â€š ¬Ã‚ ¢ recruiting through online recruiting sites or publications that market to both recruiters and applicants. The significant cost incurred in maintaining an organized recruitment effort, cross-posting within and across general or industry-specific job boards and maintaining a competitive exposure of availabilities has given rise to the development of a dedicated Applicant Tracking System, or ATS, module. The training module provides a system for organizations to administer and track employee training and development efforts. The system, normally called a Learning Management System if a stand alone product, allows HR to track education, qualifications and skills of the employees, as well as outlining what training courses, books, CDs, web based learning or materials are available to develop which skills. Courses can then be offered in date specific sessions, with delegates and training resources being mapped and managed within the same system. Sophisticated LMS allow managers to approve training, budgets and calendars alongside performance management and appraisal metrics. The Employee Self-Service module allows employees to query HR related data and perform some HR transactions over the system. Employees may query their attendance record from the system without asking the information from HR personnel. The module also lets supervisors approve O.T. requests from their subordinates through the system without overloading the task on HR department. Many organizations have gone beyond the traditional functions and developed human resource management information systems, which support recruitment, selection, hiring, job placement, performance appraisals, employee benefit analysis, health, safety and security, while others integrate an outsourced Applicant Tracking System that encompasses a subset of the above. Networks Organizations that flatten tend to encourage horizontal communication among workers. Rather than working through the organizational hierarchy, it is often faster for workers who need to coordinate with each other simply to communicate directly. Such organizations are highly networked. Another meaning of networked organizations refers to their relations to other organizations. Organizations that have downsized to just their core competencies must then outsource all the functions that used to be done inhouse. To avoid losing time and effort managing contracts with suppliers, organizations have learned to develop close ties to their suppliers so that social mechanisms of coordination replace legal mechanisms, which are slow and costly. In many industries, such as the garment industry in Italy, strong relationships have developed between manufacturers and suppliers (and other manufacturers), so that considerable work is done without a contract and without even working out a firm price. For these networked organizations to work, high trust and social capital between organizations are key elements. Networked organizations are particularly important in industries with complex products where technologies and customer needs change rapidly, such as in high technology industries. Close ties among a set of companies enables them to work with each other in ways that are faster than arms-length contracts would permit, and yet retains the flexibility of being able to drop the relationship if needed (as opposed to performing the function in-house). The trend towards networked organizations and structures create a new tension between interdependence and independence. The forces of aggregation and disaggregation throw up new challenges for organizations, for example, the use of independent contractors, joint ventures, strategic partnerships and alliances even with competitors. One advantage of networks is that organizations have greater flexibility and thus they can become more competitive in the global marketplace. Another advantage is that organizations do not require that many resources such as employee benefits, office space, and financing for new business ventures. On the other hand, networks have distinct disadvantages. Organizations may find it more difficult to control quality of goods or services as they now have to depend on their partners in the networks to deliver the quality that is desired. Legal and contracting expertise as well as negotiation expertise will also be important for networks. Alternative forms of control may need to be developed to control quality. Alternative mechanisms for coordination may also need to be developed to manage the growing constellation and sometimes tenuous nature of other partner organizations in the network. All the five trends produce result in greater organizational or system complexity for HR Professional in organizations. The tensions produced by these trends cannot be solved. They have to be managed. Effective approaches in organizational change will involve not one strategy but many alternatives and will require leaders and employees to develop greater resilience in confronting these tensions. III. Reaction True enough that the HR Professional is phasing a lot changes and trend that encouraged huge change in any organization. HR Professional must accept this trend in able to for them to grasp in never ending change. This 5 trend are now being embrace by many organizations. Globalization trend, may organization specially here in the Philippines are using outsourcing instead of hiring a HR Professional. Example: Instead of hiring Payroll and Time Keeper, may company are using electronic time captured device that allow the outsourcing company to time and payroll. This trend are creating advantages and this advantages Advantages: There will be no HR professional will focusing this area, there are strategic allocations for HR Professionals and HR professional will be focusing on Human Development. In the contrary it also has disadvantages: since time keeping and payroll are being done by the outsource company there would be a possible problem when it comes to employee satisfaction, Time keeping problems such us: failure to finger scan, un computed time, wrong computation due to time discrepancies and not all organization can embraces this trend . Diversity trend May organization here in the Philippines are owned by Koreans, Japanese, American and other foreign investor. This could be one factor that added cultural diversity in industries. Local plus foreign differences that could be resulted in a mixed local-foreign diversity. For instance an organization made of ilocano, batangeà ±o and manileà ±o could create cultural and social diversity. HR Professionals must learn how to adopt the differences because they are mainly the model in accepting diversity thus it must be reflected by HR Professional because they are creating human development that include diversity acceptance. Flexibility Because of Globalization and Diversity may HR Professional are now flexible. They can easily adopt changes. This characteristic must be posses by all HR Professional to become more successful to handle big responsibility. Technology evolution of technology is very fast. It changes the way of life. HRIS is one of the products of technology; before we are doing 201 file (we will need a lot of folders, paper and other staff) but because of HRIS we can make this thing eliminated. We can now create paperless 201 file and also we can now file are absences, leaves, overtime online. But the problem is, not all company can buy this thing. They still using traditional method and this really affect HR professional because they are being left behind. The role of the HR Professional must parallel the needs of the changing organization. Successful organizations are becoming more adaptable, resilient, quick to change directions, and customer-centered. Within this environment, the HR professional must learn how to manage effectively through planning, organizing, leading and controlling the human resource and be knowledgeable of emerging trends in training. I.V Reference 1. SHRM Workplace Forecast: A Strategic Outlook 2000-2003. Alexandria: Society for Human Resource Management. 2. Earley, P.C., Soon Ang, and Joo-Seng Tan. CQ: Developing Cultural Intelligence in the Workplace. Stanford, CA: Stanford University Press, 2005. 3. John M. Ivancevich.: Human Resources Management. Mc Graw-Hill International, 2007 This paper will highlight on how a HR manager can meet the challenges of workplace diversity, how to motivate employees through gain-sharing and executive information system through proper planning, organizing, leading and controlling their human

1984 Essay Essay

The main protagonist in fictional books or films is often labeled as a hero. In 1984 by George Orwell, the plot follows a man named Winston who is trying to rebel against the totalitarian government called Ingsoc. Ingsoc, also known as the Party, defeats Winston and because he is defeated he does not remain a hero in the reader’s eyes. Winston’s lack of cunning, lack of courage, and lack of effort to defeat the Party shows that he does not fit the description of a hero. Winston is not a hero, but some might argue that he displays heroic characteristics. One might consider Winston a hero because he is brave enough to oppose the Party and rebel. However, Winston is not brave. Instead he is merely angry because he has knowledge of what Ingsoc’s motives are and how the Party manipulates its citizens. If more people realizes the truth about the Party, they would likely rise up and rebel against the party like any reasonable person would. If Winston is truly brave, he would risk his life and fight the Party head on. Also, Winston opposes the Party and rebels, but his acts of rebellion have minimal effect on the Party. Winston may occasionally show signs of a hero but ultimately never lives up to it. Winston does not have the cunning edge that most heroes possess. He is often careless in covering his tracks and takes many foolish risks. For example, in part two, Winston skips an event at the Community Centre. Orwell explains how Winston is skipping his second evening at the Community Centre, which is an audacious act and Orwell also notes that his attendance will be monitored (94). Julia on the other hand, attends as many community events as she can and her performances during the Two-Minutes Hate are convincing so that the Party does not suspect her of committing thought-crime. If Winston were to be hero, he would need the cunning edge like Julia to outsmart the Party. Winston is also easily fooled because he trusts Mr. Charrington and O’Brien without question. When Winston first meets Mr. Charrington and later rents the room above the antique shop, he never suspects Mr. Charrington as being potentially dangerous because he seems like a nice old man trying to make money to make ends meet. After renting the room Winston never examines the room thoroughly because he foolishly takes Mr. Charrington’s word that the room is free of surveillance devices. Additionally, Winston absolutely trusts O’Brien and reveals everything to him even though he is not sure whether O’Brien is friend of foe. In contrast to Winston, heroic characters from other books and films are more cautious. Winston is a coward because he has many fears. In part two, Winston spots Julia while wandering around in the proletarian area and he immediately walks away in fear for his life because he believes that Julia is part of the Thought Police (Orwell, 115). He even considers killing her but instead, hurries home to safety. Heroes in today’s society such as police officers never flee from danger. Instead, they confront danger to protect citizens. Furthermore, Winston is selfish because he betrays his family and Julia. On the other hand, heroes will act for the well being of others and not for themselves. For example, firefighters will risk their lives to rescue people. Winston also has a fear of rats which the Party uses to break him. Heroes can have weaknesses but most eventually conquer them. An example is Terry Fox who was determined to fight cancer even though it was holding him back. Heroes are different from ordinary people because they can overcome their weaknesses and they are always determined to succeed. Winston’s lack of effort is another reason why he is not considered a hero. In part one, he writes down his thoughts on Ingsoc in his diary, but it is no use because he is keeping his thoughts to himself. Without Julia, he might have never opposed the party. Moreover, he believes that loving Julia is the ultimate act of rebellion, but it does not affect the Party significantly. He only rebels by loving Julia because he is sexually frustrated. In addition, Winston does not possess the leadership skills to start a rebellion. In the book The Mockingjay, Katniss leads the charge in the rebellion against the Capitol, because she passionately despises the oppressive government. In 1984, Winston has the passionate hate for Ingsoc but is unable to use it against the Party. Not only is Winston unable to spark a rebellion, he also has an idea of how overthrowing the Party might be accomplished: â€Å"If there is hope, it lies in the proles† (80). If Winston is truly a hero, he should be able to inflict more damage to the Party. It is evident that he is not much of a hero in the reader’s perspective because of his carelessness, cowardice and effortlessness. 1984 lacks a spectacular and heroic protagonist who is able to defeat the Party, and this is what Orwell intends. Winston weeps with joy because he finally loves Big Brother and the end of the book disappoints and even enrages readers. This will move readers to take action and prevent Oceania from becoming a reality.

Know What an Old Pro is Saying About Informative Essay Samples

Know What an Old Pro is Saying About Informative Essay Samples An informative speech was designed to provide the listeners some info. My favored place to assist you will need to demonstrate the genre of sample essays. Since informative essays are factual, it's necessary for the writer to prevent including information that contradicts the present facts. All informative essays ought to be nonfiction and has to be based with facts and present realities. You might take a look at our Essay Outline Template to find the structures which you might use in writing informative essays and other types of pieces. Besides the 3 methods, there are lots of means by which you can organize an informative essay that offers a definition. It is a chance to explain important facts. Informative Essay Samples - Dead or Alive? Following are a few of the suggested sociology essay topic for those students that are unable to choose a great topic for their assignment. 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The information offered in the essay ought to be given in such a way it can assist the reader understand more concerning the topic being presented. The Bad Secret of Informative Essay Samples So as to compose an informative essay, it is very important to look at the logical sequence when mentioning the points. It's fine to feel scared. Foreshadow the important points and main information your essay will give. Informative essays don't have one particular direction, meaning you'll have the ability to pick a topic depending upon your interests and class requirements. In case you're indecisive to pay a person to compose your essay, explore other facets of our websites or contact our support team for any extra guidelines. Using good informational essay topics can have an impact on how good a grade you get. When you decided on this issue, now is the time to sit down and spend a few hours or more based on the assignment's volume on the informative essay outline. 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Your essay might incorporate the explanations for teen pregnancy and talk about the recent rates of teen pregnancy and potential solutions. So, the choice of the topic is most important. Select a topic you're interred in, a topic you fully grasp that's the surest approach to develop simple to follow informative essay. Things You Should Know About Informative Essay Samples While others discover that it's easy, it still requires practice to be in a position to create an essay of merit. Winning a scholarship is a rather competitive thing in your education whereby you must compete with a few applicants that are bright and best all of you searching for the exact grants and scholarship. Sooner or later in your school life, you're going to be requested to compose an informative essay. Scholarship essay writing services aren't expensive because we value your time and money. 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Which is the reason we have supplied you some informative essay samples that can assist you with your own. To craft an outstanding paper, you should make certain to read examples of informative essays on the exact same subject. To begin with, you should comprehend what distinguishes informative essays from some other kinds of academic papers. The definition essay has become the most basic type of an informative essay. The 5-Minute Rule for Informative Essay Samples An informative essay may be used for plenty of purposes because there are lots of things which are happening in our day-to-day lives. Ideally, you've got to pick subject areas which may advantage a lot of individuals. Daily thousands of students utilize essay examples on a particular topic to acquire a general idea about what to write about and there isn't anything wrong with it! In any given academic level, they are required to complete their informative speech on time. 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How Managerial Accounting Adds Value to Organization

HOW MANAGERIAL ACCOUNTING ADDS VALUE TO ORGANIZATION 1. INTRODUCTION Management accounting provides accounting and related information to support the management of an organization in its internal decision-making. It includes product costing, relevant costing, cost-volume-profit analysis, capital budgeting, and operational, tactical, and strategic planning. A major activity included in the management accounting is the measurement of costs of processes that create value. Management accounting is performed inside organizations. It is the internal business-building role of accounting and finance professionals, who design, implement, and manage internal systems that support effective decision support, planning, and control over the†¦show more content†¦The differences are as follows: - Management Accounting Financial Accounting Users Is largely used by the people within the organization (internal users). E.g. the managers who make plan as well as financial decisions. The users of financial accounting consist of people within the organization as well as people external to the organization. E.g. investors, customers and suppliers Reporting regulation framework Not regulated by any framework, since only the management intends it. Regulated by law and the preparation of report must conform to requirements of accounting standards other regulatory authorities. Nature of report Based on combination of historical data, estimates and projection of future events. Information supplied is based on historical transaction data. Reporting scope Information included normally focused on certain section of the organization such as product lines, jobs, departments or divisions. Report focus on all transactions occurred within the organization as a whole. Report frequency Report is prepared as it is required. It depends on the management need. Report is usually prepared annually in accordance to the organizations accounting period. 5. MANAGERIAL ACCOUNTING TOOLS/TECHNIQUES Today, the management accounting embraces a variety of sophisticated Systems, tools, and techniques, such as activity-based costing, enterprise value analysis, value-chain analysis, and the balanced scorecard.Show MoreRelatedThe Changing Role of Managerial Accounting in a Dynamic Business Environment1723 Words   |  7 PagesROLE OF MANAGERIAL ACCOUNTING IN A DYNAMIC BUSINESS ENVIRONMENT Learning Objectives 1. Define managerial accounting and describe its role in the management process. 2. Explain four fundamental management processes that help organizations attain their goals. 3. List and describe five objectives of managerial accounting activity. 4. Explain the major differences between managerial and financial accounting. 5. 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