Firm practice management
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The document discusses principles of ethical and professional practice management. It outlines four main principles of ethical management: respect for employees, mutual respect among employees, procedural fairness, and transparent decision making. It also discusses the importance of integrity, listing six reasons why integrity is important in practice management, including stronger reputation, employee satisfaction, quality, clearer focus, and better company culture. Finally, it outlines twelve ways to develop and practice professionalism, such as being productive, maintaining a professional image, taking initiative, managing time efficiently, demonstrating integrity, and communicating effectively.
Firm practice management
- 1. FIRM PRACTICE MANAGEMENT <BSCS-A-Section> • TEACHER: Professor Muhammad Sohaib • Presented by Khadija Tahira 043 Bakhtawar Mustafa 001
- 2. FIRM PRACTICE MANAGEMENT • In Ethics: Ethical management is the practice of being honest and virtuous in a role as a manager. Management training will help you with this and there are several responsibilities and obligations of an ethical manager, including setting a good example, holding everyone to the same standard, and making expectations clear. In order to do this, there are four main principles of ethical management you need to keep in mind at all times. They are as follows: Respect for each employee – While it’s difficult at times, it is important to make sure you treat each of your employees or team members respectfully. Everyone you work with will have different religious and cultural beliefs and should be treated fairly.
- 3. MUTUAL RESPECT – YOUR ROLE AS A MANAGER INVOLVES MAKING SURE THAT YOUR EMPLOYEES ALL TREAT EACH OTHER RESPECTFULLYAS WELL. WHILE THEY DON’T ALL HAVE TO AGREE WITH EACH OTHER, THEY SHOULD SHOW PROPER RESPECT FOR EACH OTHER’S IDEAS AND OPINIONS. A TEAM THAT DOESN’T GET ALONG ON A PERSONAL LEVEL WILL NOT WORK WILL TOGETHER AND WILL BE LESS PRODUCTIVE. • Procedural fairness – You may not have control of the procedures your company expects you to follow but you do have control over the procedures you can implement within your team. It is important to make sure the procedures you implement are fair to all of your employees – neither favouring nor neglecting one employee or another. • Decision making transparency – It’s incredibly important for you to make sure your employees understand why you make the decisions you do. If they realise you aren’t making arbitrary choices based on personal beliefs, they’ll be more likely to accept your decisions and work together as a team.
- 4. INTEGRITY PRACTICE MANAGEMENT “THE QUALITY OF BEING HONEST AND HAVING STRONG MORAL PRINCIPLES.” IT’S IMPORTANT TO NOTE THAT THESE MORAL PRINCIPLES ARE UNDEFINED AND VARY FROM PERSON TO PERSON. AS WE SAW IN OUR RECENT ARTICLE ON ETHICAL LEADERSHIP, PEOPLE CAN HAVE DIFFERENT VALUE SYSTEMS AND BELIEFS. WHEN YOU ACT WITH INTEGRITY, YOU’RE THE SAME PERSON IN ALL SCENARIOS, WHETHER YOU’RE TALKING TO THE BOSS OR THE JANITOR. YOU DON’T PRESENT DIFFERENT FACES OR TELL DIFFERENT STORIES TO DIFFERENT PEOPLE. YOU'RE WHOLE
- 5. 6 REASONS WHY INTEGRITY IS IMPORTANT IN PRACTICE MANAGEMENT • According to author Brain Tracy: “Whenever I hold a strategic planning session, the first value that all the executives agree on is integrity. Leaders know that honesty and integrity are the foundations of leadership. Leaders stand up for what they believe in”. 1. A Stronger Reputation • reputation is everything. Suppliers need to trust you to pay them for the goods they deliver. Investors need to trust you to put their money to good use and deliver a profitable, sustainable business. For employees, customers, business partners and everyone else you have contact with, trust is essential. • If you act with integrity, people will trust you, and word will spread faster than any advertising campaign you could ever come up with. Similarly, a lack of integrity will scupper your reputation. • So acting with integrity will allow you to reap the benefits from better relationships with the people you deal with.
- 6. 2. EMPLOYEE SATISFACTION • Most people want to do a good job, and they'll be happier working for someone with integrity than for someone who asks them to compromise their own principles. 3. Quality • Acting with integrity often means producing a better product or service for the customer. For example, let’s say that tests reveal a serious weakness in your flagship product, just when it’s selling like hot cakes. You might be tempted to keep on selling it anyway, but that would mean short-changing your customers by providing an inferior product. • A leader with integrity would explain the situation, fix the problem, and ship the product only when it’s of acceptable quality. This is just one example, but in general, acting with integrity is likely to lead to better quality products and services because you’re acting in accordance with your values and principles, and few people really believe in putting out shoddy work.
- 7. 4. CLEARER FOCUS Lying and cheating can take up a lot of energy and time. You’re presenting different faces to different people, and you've got to keep track of which story you’ve told and how to keep it all consistent, and then you've got to tell more lies and manufacture more evidence to back up your original lie, and so on. Acting with integrity, on the other hand, frees up all that energy and lets you focus on what's important instead of spending time covering your tracks. 6. Better Company Culture • If you lead by example and act with integrity, that'll spread throughout the company. We already saw that integrity is good for employee satisfaction, but think about your employees’ performance too. • If you've got a culture of integrity in your company, your employees will make better decisions, with the long-term interests of your customers and the company in mind. They'll be able to trust each other, which will have huge benefits for collaboration and teamwork and will minimise costly disputes.
- 8. PROFESSIONALISM PROFESSIONALISM IN PRACTICE MANAGEMENT Professionalism is the conduct, behavior and attitude of someone in a work or business environment. A person doesn’t have to work in a specific profession to demonstrate the important qualities and characteristics of a professional. Professionalism leads to workplace success, a strong professional reputation and a high level of work ethic and excellence. Here are 12 ways you can develop and practice Be productive Use your time productively at work. Focus on your job responsibilities and avoid getting pulled into social media, web browsing and phone activity while on the clock.
- 9. DEVELOPA PROFESSIONAL IMAGE Project a professional presence and dress appropriately for your industry and organization. A good rule of thumb is to dress in the position you aspire to have. Take the initiative Ask for more projects to be given to you or think of assignments that will meet your organization's goals. You don’t want to be under- utilized. Maintain effective work habits Prioritize, plan and manage your assignments and projects. Follow up and follow through with your supervisor and team members.
- 10. MANAGE YOUR TIME EFFICIENTLY Establish priorities, set goals and create action plans to meet deadlines. Demonstrate integrity Be accountable for your work and actions while behaving ethically at all times. Provide excellence Produce work and results that reflect a sense of pride and professionalism, often exceeding expectations. Be a problem-solver When you run into problems and obstacles take the time to brainstorm a few solutions and alternatives before you meet with your supervisor.
- 11. BE RESILIENT Develop coping skills to manage setbacks and challenges with a positive and constructive attitude. Communicate effectively Practice professional on-line, in person and interpersonal communication skills. Develop self-awareness Learn to manage your emotions and gain awareness of your emotional triggers so you can manage your reactions positively and productively. Accept and reflect on feedback to assist as you learn and grow. Build relationships Network with colleagues, customers and clients to build professional cordial relationships, work on teams and collaborate effectively.