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BSS064-06 ass01-Leading & Managing Organizational Resources (e-Portfolio) Student Name Student ID Lecturer name: Word count: 2488 Reference style: Harvard 1
To From Subject line: Leading and managing organizational resources (Chosen organization: Aveva Group plc) Introduction and Purpose of the Email Hello, I hope you are doing great. The purpose of writing this e-portfolio is to provide a summative analysis of the discussion made in week 1 (corporate governance) and week 2 (leadership). This e-portfolio for Aveva Group PLC has been considered as the firm for the purpose of analyzing and measure its relevant corporate governance as well as leadership practices. Financial, ethical, and sustainability concerns are discussed in week 1 whereas on the other hand transitional perspective, regenerative leadership as well as contemporary leadership in the concerning sector have been discussed in week 2. With an extensive idea of corporate governance and leadership, the issues faced by Aveva Group and their strategies to overcome the issues have been illustrated. A variety of data, sources, research, approaches, theories, and relevant frameworks are used to optimize the considered organizational efficiencies which are used to cultivate the culture of the organization and foster leadership for required decision- making. In this technologically upgraded society, Aveva, as one of the renowned tech companies in the UK is required to be more technologically updated for ensuring better advancement and accountability. In this portfolio, by leveraging the idea of corporate governance and leadership, Aveva can have the accessibility in the extension of its brand value in the market and also can get more consumer's attention to stand out against the competition and reduce the risks with the relevant competitive advantage. As per my knowledge and understanding after attending the week 1 and week 2 demonstrations, my aim is to provide you with the best possible analysis underpinning the considered areas of organizational development. Hereby I expect a positive response from your end about the analysis made in this portfolio which encapsulated the relevant analysis and consideration. 2
Critical Analysis and evaluation corporate governance As per the view by OECD (2022) define corporate governance adds support to the environment of transparency, and mutual trust as well as a better form of accountability to foster financial stability, business integrity requirements, and also long-term investment which all are required for inclusive societal growth. As per ( Aveva Group plc . 2023), the company claims continuous review and upgrade of its strategies and documentation for ensuring that it can deliver sustainable value to the diversified stakeholders. As per the report (Aveva Annual Report. 2022), Aveva is also engaged with the communities at local, regional, and also global levels for making a positive difference in their corporate culture. Company's conduction of a task force on climate- related financial disclosures through which the company takes a better alignment to ESG reporting, business practices, and corporate governance as per TCFD recommendations. Issues regarding the company’s financial responsibilities According to (aveva. 2023), Aveva faced some sort of issues in its financial responsibilities in maintaining its corporate governance to its regulators, and shareholders. As per (A veva Group plc . 2023), Aveva Group releases its financial reports on a quarterly and annual basis and this financial reporting does not include the overall performance and changes made to the company. As per the journal ( Al Qawasmeh, 2016 ), organizational success is grounded on the effectiveness of its corporate governance. Workplaces are categorized through the continuous personal conflicts faced which results in an immense stressful work environment and a further impaired working environment. As per the article Financial Times (2022), Being one of the oldest UK- based tech firms Aveva Group is expected to hold a good financial position but the company has been found to be warned due to its slow growth in revenue and margins for the year 2022 which was the result of Ukraine War. The FTSE 100 organization said it had ceased any new business within Russia that presented 2% of its revenue at the end of the fiscal year 2022 (Aveva Annual Report. 2022). The same article also illustrates that the share of Aveva has tumbled by 20% following the profit warning before the partial regain of some of the losses it faced. These challenges and vulnerabilities have increased the concern about Aveva's quality control procedure required to hold for fundamental corporate governance. 3
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Issues in maintaining company ethics There are numerous corporate governance issues that have been noticed in Aveva Group plc in holding its ethics which impacts directly on the company’s position and brand image. As per (AVEVA 2023), the company claims that they run mandatory training for every employee and engaged executives and managers to understand the company compliances along with the relevant corporate policies, ethics, and security considerations. Unsafe work suppliers at the workplace create an unhealthy work ambiance where hazards can cause serious injury to the workers while working with machinery and equipment. Inequality among the engaged personnel can work against the general company ethics. According to ( Hayat, et al., 2023 ), Aveva finds difficulties sometimes in holding its business deals and actions required to take for better work culture and sustainability. The same report adds the company’s perspective on corruption, which includes embezzlement and extortion, which needs to be addressed by the firm for ensuring better company ethics. Issues in sustainability and corporate resilience After discussing the financial and relevant ethical issues that need to be addressed by Aveva Group its necessary to discuss the possibilities or already faced issues caused by Aveva Group in holding the desired level of corporate resilience and sustainability. Being a renowned tech firm in the UK, Aveva faces particular corporate resilience and sustainability issues. As per Shittu, et al., (2021 ), the Electronic waste management issue is the most observable issue that can be obtained in Aveva like other existing tech firms for which the company contributes a major portion to significant electronic wastage. Issues in energy consumption are another issue in this concern where the company faces issues to balance the requirement of energy-intensive operations with the efficiency measures. The issue of transparency within the supply chain is another area of concern that needs to be taken into account by Aveva. Being a tech firm, Aveva relies on a complex global supply chain to source materials and components which challenges the transparency in the supply chain and also create conflict between mineral and labor rights issues. These are some corporate resilience and sustainability issues that need to be addressed by Aveva for ensuring the ideal corporate governance and sustainability contribution within the tech industry. Ethical and transparent sourcing policies and procedures need to be implemented by the firm for ensuring ethical standards like equal treatment, zero workplace injuries or related 4
hazards, and less or zero negative contributions to the environment are some areas that help Aveva to get the best sustainability and corporate governance. Critical Analysis and Evaluation Leadership Leadership Traditional Definition and Qualities of a Leader From the study done in week 2, where the perspective of Barack Obama the 44th president of the U.S. has been added. As per his observation, he believes in the significance of vision, empathy, and integrity as some qualities of an efficient leader. According to (Fortune. 2017), an effective leader is required to be open-minded and adaptable so that he can learn new things through integrity, patience, obedience, and ethical behavior. An effective leader can also need to exhibit strong communication skills to motivate others. Regenerative leadership Regenerative leadership is considered as a leadership approach which is concerned with creating sustainable and thriving systems (Regenerative Leadership. 2023). This is more than a traditional concept of leadership as it fosters the concept of collaboration, long-term thinking and also considers the impact of leadership in creating environmental sustainability. Regenerative leadership in Aveva involves fostering innovation culture along with fostering sustainability within the organization which includes initiative to reduce environmental footprint through driving positive changes. Role of Leaders in an Organization In any organization, directors play an imperative part since they are included in overseeing the organization, making a key vision, and setting objectives (Forbes. 2022). Directors are capable of making a positive work culture by spurring and supporting their workers. With the assistance of the manager's director, each worker can discover his potential and the region in which he needs advancement. Pioneers act as choice creators within the organization where they too take an interest in asset administration, struggle determination and direct the organization to overcome changes and challenges. 5
The way Aveva's board ought to be included in the positive integration of maintainable administration into corporate administration and administration inside the organization. Appropriation and application of ESG Standards : Aveva's board of chiefs effectively coordinated supportability into corporate administration and administration ( Hayat, et al., 2023 ). They guarantee that natural and social impacts are carefully evaluated nearby monetary execution by coordination supportability contemplations into decision-making forms. With this methodology, Aveva can superiorly coordinate its corporate targets with those of feasible advancement and maintain moral corporate administration all throughout the complete company. Joining maintainability into the key arranging handle: The board can guarantee that all viewpoints of maintainability related to the company are coordinated into the company's key arranging prepare, which incorporates asset allotment, maintainability incorporation in decision- making, and hazard administration. Establishing and detailing particular maintainability objectives : The board of executives builds up particular maintainability objectives and communicates with the company regularly about how well they are being met. The board makes beyond any doubt that economic hones are emphatically prioritized by setting quantifiable objectives related to bringing down squander era, carbon emanations, and water utilization, among other imperative supportability markers. Straightforward announcement makes it possible for interested parties to assess Aveva's execution on supportability issues and holds the company capable of keeping its guarantees and advancing a supportability culture over the whole business. General challenges observed in Leadership in the 21st Century. As per Deloitte (2019) within the 21st century, there are a number of challenges confronted by the pioneers in each organization counting the challenges of the quick pace of headway in mechanical adaptation. As per the report (Deloitte. 2019), with the expanding competition and disturbance in digitalized trade models, smoothed organizations, and increased workforces the pioneers feel pressurized to hold their position in overseeing the challenges. A global human capital trends survey has made which appears that about 80% of respondents appraised administration as the higher prioritized case for the development handle of the organization 6
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though about 41% of respondents react approximately their point of view around the organization which is claimed to be prepared to coordinate their administration necessities. In spite of the fact that most 21st-century organizations have built advanced authority models with an upgrade in their major systems and speculation-worn-out authority programs. Within the digitalized period individuals locked in in each UK-based organization now do not believe that the budgetary results are the essential degree for considering trade victory where its social and physical development, customers’ criticism, and locked-in partners are esteemed to degree the victory calculate. As a result, the locked-in pioneers of the organizations who followed the conventional criteria centered as it were on running and competing tenaciously within the advertise can be gotten contract as well and not really locked in with the organizational prerequisite at the pace of more extensive trade and social environment. Leadership challenges in pandemic During pandemic Aveva as a company belong to technological sector or other firms in the market faced several leadership challenges including challenges to lead employees at remote work, challenges to maintain virtual leadership and employee morale, challenges to ensure data privacy management and also challenges to manage the supply chain disruptions. Effective leadership during pandemic and post pandemic was lacking in holding empathy, agility, trust, understanding and focus. Leadership challenges in Aveva (Leadership Challenges in technological sector) Brian DiBenedetto, AVEVA's Chief Financial Officer (CFO), oversees the company's finances. The leaders hired by the company must be knowledgeable in a wide range of financial and accounting functions, including performance and risk management, information technology, and mergers and acquisitions (aveva. 2023). According to the company report (AVEVA. 2023), more than 8 out of 10 top engage leaders claim that important business decisions aren't made with insights from their facilities and assets. The report AVEVA. 2023), adds the study Connecting the Future which was published in collaboration with Wakefield Research and surveyed 650 executive leaders at multinational corporations who manage work with minimum compensation, 7
contributing to minimum annual revenue of $50M USD in the relevant industries throughout American and European countries. A lack of distinct vision and direction is one of Aveva's most significant leadership problems. The leadership of this tech-company has struggled to effectively share a long-term vision and strategy with employees, which has caused a lack of alignment within the organization. The company as tech-firm can fail to build a pipeline of potential leaders and make insufficient investments in its staff members' capacity for leadership development ( Parker, 2020 ). Because of this, there is a lack of depth and continuity in the company's leadership, which makes it more difficult for it to handle difficult problems and continue growing over time. There have been problems with leadership accountability at Aveva. There have been times when leaders have failed to accept responsibility for their actions and choices, which has caused a lack of trust among the workers. This lowers employee morale and may prevent internal innovation and teamwork. Conclusion At the conclusion of this e-portfolio the conclusion can be made that in this discourse, corporate Administration and administration play pivotal parts in the notoriety, victory, and maintainability of the chosen company Aveva Group Plc. Aveva has confronted critical highlighted corporate administration issues beginning from monetary duty, and moral thought to maintainability, and provider administration. Various ethical and managerial issues in company’s suppliers highlighted the lack within the company’s corporate administration instruments, moral conduct, and straightforwardness. Pioneers locked in got to have qualities like solid communication aptitudes, versatility, passionate insights, and integrity. Addressing the challenges confronted by the pioneers within the organization between and after the 21st century is paramount. The tremendous development in innovation impacts changing consumers’ desires and social differences which need pioneers to be more versatile, and open-minded toward innovation and advancement. After the general investigation of corporate administration issues and authority hones, it can be said that Aveva is able to moderate the issues through responsible activities, moral conduction, and supportability programs. 8
Recommendations Aveva's corporate governance system needs to be strengthened, along with risk management and transparency, as the first suggested course of action for preventing future accounting challenges. Fostering moral relationships with coworkers and vendors is another suggestion. Aveva can accomplish this by establishing unambiguous ethical standards for all parties and carrying out frequent compliance audits. The business should concentrate on creating a culture of openness and integrity. This entails giving the development of an ethical culture within the company top priority, supporting drive and openness, and sternly avoiding any unethical behavior. In order to foster and cultivate effective leaders within the organization, Aveva should also invest in leadership development programs. This will support the company's expansion and general success. 9
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Reference Al Qawasmeh, R., 2016. Corporate Governance and Conflict Management. International Journal of Business and Social Science , 7 (6). https://www.researchgate.net/profile/Rasha- Qawasmeh/publication/312173609_Corporate_Governance_and_Conflict_Management/l inks/5aafb0c60f7e9b4897c0c3d5/Corporate-Governance-and-Conflict-Management.pdf AVEVA (2023) Executive team , AVEVA . Available at: https://www.aveva.com/en/about/about-aveva/leadership/ (Accessed: 16 June 2023). AVEVA (2023) Home , AVEVA . Available at: https://www.aveva.com/en/about/corporate- governance/ (Accessed: 16 June 2023). AVEVA (2023) Home , AVEVA . Available at: https://www.aveva.com/en/about/news/press-releases/2022/new-aveva-study-finds-8-out- of-10-industrial-multinationals-make-key-decisions-without-vital-data/ (Accessed: 16 June 2023). aveva (2023) Supplier code of conduct ( “code”) - AVEVA , . aveva.com . Available at: https://www.aveva.com/content/dam/aveva/documents/legal/policies/AVEVA-Supplier- Code-of-Conduct-For-Distribution.pdf (Accessed: 16 June 2023). Aveva Annual report (2022) Aveva Integrated Annual Report 2022 , aveva.com . Available at: https://www.aveva.com/content/dam/aveva/documents/reports/2022_aveva_integrated_an nual_report.pdf.coredownload.pdf (Accessed: 16 June 2023). Aveva Group plc (2023) AnnualReports.com . Available at: https://www.annualreports.com/Company/aveva-group-plc (Accessed: 16 June 2023). Deloitte (2019) Leadership for the 21st Century: The intersection of the traditional and the new , Deloitte . Available at: https://www2.deloitte.com/us/en/insights/focus/human- capital-trends/2019/21st-century-leadership-challenges-and-development.html (Accessed: 16 June 2023). Financial Times (2022) Aveva issues profit warning over war in Ukraine and rising costs , Subscribe to read | Financial Times . Available at: https://www.ft.com/content/4425ea57- ddff-41e8-8ea6-8422ba391745 (Accessed: 16 June 2023). 10
Forbes (2022) Council post: Good leaders give directions; great leaders give direction , Forbes . Available at: https://www.forbes.com/sites/forbesagencycouncil/2021/04/09/good-leaders-give- directions-great-leaders-give-direction/ (Accessed: 16 June 2023). Fortune (2017) Barack Obama shares his lessons learned on leadership and power , Fortune . Available at: https://fortune.com/2017/05/10/barack-obama-leadership-power/ (Accessed: 16 June 2023). Harvard Business Review (2018) Good leaders are good learners , Harvard Business Review . Available at: https://hbr.org/2017/08/good-leaders-are-good-learners (Accessed: 16 June 2023). Hayat, A., Shahare, V., Sharma, A.K. and Arora, N., 2023. Introduction to Industry 4.0. In Blockchain and its Applications in Industry 4.0 (pp. 29-59). Singapore: Springer Nature Singapore. https://link.springer.com/chapter/10.1007/978-981-19-8730-4_2 OECD (2022) Corporate governance - OECD , OECD.org . Available at: https://www.oecd.org/corporate/ (Accessed: 16 June 2023). Parker, J., 2020. Ethnic diversity enriching business leadership. The Parker Review . https://www.ukbaa.org.uk/wp-content/uploads/2020/12/ey-parker-review-2020- report-final.pdf Regenerative Leadership (2023) About Us , Regenerative Leadership . Available at: https://www.regenerativeleadership.co/about-us (Accessed: 17 June 2023). Shittu, O.S., Williams, I.D. and Shaw, P.J., 2021. Global E-waste management: Can WEEE make a difference? A review of e-waste trends, legislation, contemporary issues and future challenges. Waste Management , 120 , pp.549- 563. https://www.sciencedirect.com/science/article/pii/S0956053X20305870 11