Journal Management And Marketing Research -Myassignmenthelp.Com

Question: Discuss About The Journal Management And Marketing Research? Answer: Introduction The purpose of this report is to examine the recent trends in the job market of finance sector and to analyze various factors of it. This report includes various types of finance jobs that are paid and unpaid and the characteristics of each job are explained in this report. Examining the job market As it is a matter of fact that recession and financial crisis has affected the world market immensely including the finance sector, it should be worthwhile to choose a career path that can be sustained in the future. In this section the job market o finance sector is analyzed. Five career trends for next five years In finance sector there are five most important and lucrative job opportunities for the job seekers like Risk Management Analyst, Financial Operation analyst, Financial planner, Corporate Finance analyst and Financial accountant. Which careers are increasing and decreasing In this regard it can be said that the requirement of Financial operations analysts are on the higher end and after completing bachelors degree on finance and having a few years experience one can apply for posts like this (Glaeser, Kerr Kerr, 2015). The major skill that is needed for this job is to analyze the financial data and experts can perform high and medium level data analysis for generating reports regarding external and internal operations of a business organization. the median salary of this kinds of jobs are 71,750 US dollars. The position of a financial planner in the finance sector is associated with customer service. A financial planner or a retail banker traditionally works for banks and they provide necessary information to the customers regarding financial planning. In the global market the requirements of individuals in this post is getting increased day by day as the awareness of people regarding financial issues are rising after experiencing global financial crisis. The median salary of a retail banker is somewhat 35000 US dollars. Risk management analyst is a major post in the sector of finance. The significance of the management of risks in the financial sector is immense and become necessity after the market crash experienced in the year of 2008. The large financial corporations and banks are recruiting risk management analysts so that the organizations can adapt to the ever-changing market conditions and can effectively use complex entity structures in order to protect the investments (Cecchetti Kharroubi, 2015). The requirement of risk management analysts are growing rapidly but equally across the niches like markets, operations and credit. The main job of the risk analysts is to assess the risks of the potential operational issues, threats from the rival organizations and the risks to company assets. There are huge opportunities for the corporate financial analysts as there are presence of the demands of financial management and finance expertise (Pillinger, 2016). In contemporary times, there is a major requirement of larger business organizations and banks in this regard. An individual who has completed bachelors degree in commerce and have a MBA degree can apply for this post. Lastly, it can be said that demand of financial accountant is immense as it can be said that the requirement of financial in finance sector is huge because they assess important documents regarding the financial metrics and other aspects and eventually they summarize the reports to the executives and the shareholders of the company. The median salary of the financial accountants is somewhat 69000 US dollars. Recent trends and what are driving these trends The aftermath of global financial crisis has led the business leaders to look into this sector in order to avoid any kinds of financial crisis in future. It can be said that the global financial market is ever-changing and any types of disputes in the fundamental planning can expose the business organizations even the economy of a country to the threat of various types of financial crisis (Gupta, Kumar Singh, 2014). That is why the recent trend is to recruit specialized professionals in specific posts in the workforce. This has enhanced the demands of certain above mentioned posts in the financial market globally. Examining a paid occupation In this section of this report the paid jobs as a paid occupation is examined and discussed. Brief description of jobs The major jobs in financial sector are of financial accountants, corporate financial analysts, risk management analysts, financial planners and post of financial operation analysts. In this context the role of these designated posts are discussed briefly (Beck, Lu Yang, 2015). Financial accountants analyze various aspects of the business organization and assess the financial documents and provide an accurate report to the executives or the management of the business organizations. Corporate Finance analysts analyze the finances of business organizations. to apply for this post the individuals should have a MBA degree from a reputed University and has to have a good knowledge of finance (Stiglitz Rosengard, 2015). The corporate finance analysts are the heart of an business organizations and they are significantly helpful in order to avoid any kinds of financial crisis. Retail bankers or the financial planners generally work for banks and at times they work for online banks too. The individuals who work as financial planners they have the duties of authorizing the loans, setting up accounts in banks, finding good investment plans for the clients and many more. The financial analysts analyze the financial data of the business organizations and they make reports by predicting the external and internal operations of that business organization (Cournde, Denk Hoeller, 2015). Lastly the risk management analysts work for banks or for large business organizations and they analyze the market conditions and protect their organizations from any financial crisis. Tasks that individuals are likely to undertake In this regard it can be said that the jobs that are above mentioned, out of them the jobs of retail banker and the financial accountants are immensely popular. As requirements of individuals for these two jobs are immense nowadays and after completing the bachelors degree individuals can apply for these posts. Required training/ education To make a career in finance sector, individuals have to have a bachelors degree in commerce background and it would be a major help if the candidates have a MBA degree from any reputed university (Glaeser, Kerr Kerr, 2015). To get a good job with higher salaries, a few years of experience and having a MBA degree is mandatory. Income of a fresh graduate If an individual after completing his graduation takes up a job it is likely that in todays world he would be able to draw a salary of 35000 US dollars. Impact of these jobs in future The individuals who successfully work as a finance professional in any reputed organization can easily expect to get more paying jobs in future and there are significatnt growth opportunities in this sector. Contribution of this sector to society It can be said that the contribution of finance sector to society is significant. The finance sector decides the living standards and well being of the individuals of the country. If a nation economy faces threats, it would directly affect the individuals of that particular country. Thus, it can be said that the finance sector and the individuals who work in finance sector ensures the living standards of the individuals of that particular sector. Description of the organisation and the job The Australian Red Cross is a leading volunteering organisation in the country that provides services and programmes dealing with international humanitarian law, emergency management and blood donation and so on. The organisation was established in 1914 and acquired legal status in June 1941. The mission of the company is to become the leading humanitarian organisation in Australia (Redcross.org.au, 2018). In this type of organisation, the job that is expected to be done is managing the accounts. This type of organisations is involved with various charitable societies and due to this, it is important to have an accountant managing the finances of the company. Activities and tasks for the job The expected job and activities that are required to be carried out in The Australian Red Cross include the preparation of assets, liabilities and capital accounts by analysing the account information. Other tasks include documenting any financial transaction that takes place between the company and any other charitable societies. According to Coller, Cordero and Echavarren (2018), analysing the current financial status of the company is also important to predict future investment plans. The securing of financial information is also required to be done by completing the database backups. Attraction towards this area of volunteering The Australian Red Cross provides support to the people in need of proper care. It has been seen that during natural calamities many people in the country become homeless and suffer from injuries. The Australian Red Cross provides care to these people and aims to provide the best community service as far as possible. Legal migrants from other countries are supported by the organisation so that they can have a proper life support. Thus, due to these reasons, the attraction towards this voluntary organisation has increased. The work done by the organisation helps vulnerable people to stake a claim in the high society by building a life from the ruins of disasters. Required training or education To perform effectively in this profession it is necessary that the individuals need to have a minimum of bachelor's degree in the accounting field. However, a master's degree in the field is always preferable. Apart from this, training an individual need to be aware of the minimum methods by which community service can be done effectively. This includes leading the people to respond to the calls for service. Training also needs to be acquired about the ways to manage accounting software as in the modern day, these works are done using the technology rather than manual labour (Shoup, 2017). Hence, minimum education and training in the field of job can help in qualifying for working in this voluntary sector. Potential for paid position The paid job needs to be an accountant. The potential of the paid job is such that an individual can use the experience earned in trying to seek a job in another area of business. Accountants are in huge demand in the market owing to the large amount finances that are spent in gaining a competitive advantage. In the case of The Australian Red Cross, such positions need to be paid so that the employees seeking a job as accountants can remain motivated to work in the organisation. Effectiveness of skills acquired for other jobs The skills acquired from this job can help an individual get better job positions and payment in other sectors. As stated by Chaneta (2014) every company need to have an accountant so that it can maintain the financial stability. Thus, individuals seeking a move from the voluntary organisations to private sectors can gain a major hike in the salary. The skills can be useful for making a career as a Chartered Accountant in any high profile company. Contribution of the organisation to the society The Australian Red Cross provides community service and aids the vulnerable people. Hence, it can be said that the contribution made by the organisation towards the society is valuable. The organising of awareness programmes helps the people of the society understand the value of life and they remain aware about the things that they need to avoid for leading a healthy life (Tai Chuang, 2014). For example, the migrants in Australia are aided in a way so that they do not feel isolated. They are made to welcome and are provided with the proper medical attention or service that they require for surviving in the country. Contribution of the organisation to the economy It can be said that The Australian Red Cross helps in increasing the economy of Australian. Although the funds earned by the organisation is largely due to the donations from the public and corporate partnerships, the contribution they make to the society helps in increasing the economic condition. As stated by Suliman, Al-Khatib Thomas (2016), the donations made by the company for aiding the poor and the deprived people are used to increase the economy of the country. Hence, it can b said that the corporate social responsibility that an organisation needs to perform are done efficiently by The Australian Red Cross. Identifying recruitment competitors In the modern world, every organisation seeks employees that can help them in achieving success. These employees are recruited with the help of the recruitment agencies that provide placement to individuals in big companies. Some of the recruitment agencies include SEEK.com, Adecco, K2 recruitment, Robert Walters recruitment and WISE Employment Australia. These recruitment agencies compete against one another to improve its profitability by searching and placing people in jobs of their respective professions. Trends in recruitment over the next five years Given the amount of competition between industries, it is necessary that companies develop new strategies to improve the recruitment process. Some of the trends that can be effective over the course of the next five years include hiring an increased volume of people. This is essential in order to support the growth of the business. Vickers, McDonald Grimes (2014) observed that about 56% of recruits are hired for the successful growth of the business. Apart from this, the other trend in the business includes the conversion rate of the sourcing. This can help in analysing the efficiency of the recruiters. Strategy for gaining employment In order to seek employment in The Australian Red Cross, the target of the recruiters need to be the voluntary companies. These companies will be chosen based on the current employee strength and the rate of employee turnover. Before applying for the job, the financial position and the reputation of the company need to be analysed. To seek employment individuals can choose from job fairs, referral system and networking. The best method for being recruited however is networking as it helps to come in direct contact with the organisations. Conclusion Hence, it can be concluded that to seek a job in organisations it is necessary for individuals to identify the current requirements of a company. This can help in pursuing a career in that particular field and get an effective job. The current trend in the market can help in gaining education and training that is specific to the requirements. 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