Management Admission

Question 1
During my first year at North Bengal University, our dean of students in a matriculation ceremony said that money is equated to emotions, which has to be managed to ensure life is on the right course. He said as we were fresh from high school we would have limited skills for personal financial management and that would affect our life in the university if we failed to improve those skills. I was taking business administration, and I listened keenly as my passion for pursuing my career burned inside me. I always had interests in finance related subjects, and this was the best platform to quench my thirst. After that day, I joined a finance club that was ongoing, and it was during the clubs elections that all posts had been filled except the one for the treasurer. Nobody was willing to occupy the position since it was associated with funds misappropriation and the penalty was stringent for the culprits. Some friend whispered to me that there were many loopholes form money to be lost in the treasury even without the knowledge of the treasurer. For that reason, no student wanted to fill the position. I did not see the essence of what my friend said, and I raised my hand to fill the position with courage and confidence. Everybody was amazed and from the look of things they realized that I was a new student and the room was quiet as I was being announced as the finance club’s treasurer. A person was to assume the office for one academic year and replaced in the next or may seek a re-election if supported they may continue serving the club for at most two terms.

I was told that the clubs students had entrusted me with the funds management and any misappropriation was assessed by the school, and a person may face an academic suspension if found guilty. My interest for the post was clear and so I had nothing to worry about. I went to the library and found readings on strategic financial management for an organization and noticed that “financial activities of an organization should go hand in hand with its goals and objects”. Anything other than the two should be avoided since the club will not realize its timeline activities that are guided by the goals and objective. I realized the “essence of budgeting to ensure all funds are accounted for and also to expand the base of the source of the capital”. Finance club had most students and so had the most savings. For this reason, corruption and funds misappropriation was common. I took the position professionally, and I decided that every coin before it was approved for use, all club member or, at least, a third of it must concur with the board’s decision. For the first semester through the reading of the books I had implemented and strengthened policies that protected the clubs fund. The board member were the one trying to push for a back door release of funds at the expense of the treasure, but they realized I was not the corrupt type and were forced to act straight. At the end of the first semester the club recorded highest saving ever. I was congratulated not only by the club member but also by the university faculty member. With this financial management skills, my spendthrift nature from high school was automatically changed to a rational spending person and since then I learned how to attain financial independence by saving and careful spending.

Question 2
Through the various positions at organizations I served as the one as a treasurer at our finance club in my undergraduate and working in an Indian based logistics company, I can assure my course mates that I have enhanced my positive qualities to works as an individual and as a team member of leader. As a team player I was capable of working in groups that I was assigned and none of them underperformed, as a member neither did the indifference among other club members deter us from our purpose, I always tried to ensure the group was intact until the task was complete. I ensured this happened whether I was the group leader of which in most cases I was since I had earned a reputation as a good leader by the position I was serving in the finance club. I was a charismatic leader; I remember on time a group of students approached me and asked me to stand for a presidential election since I had proved my worth as a good leader. For instance, I had respect for my subordinate and the opinion of club member was the ultimate heartbeat of the club. “A good leader should be open to accommodate change”. I was a sped thrift and I had never participated in any leadership position but I had to change all that and become a good financial manager and a good leader. “A good leader should be an initiator or progressive activities”. I was capable of bringing a new protocol of implementing and working policies that improved the clubs financial statement. At the logistics company, I was given the responsibility of measuring all accounts related terms, reconciliation of bank, payable and debtors, and preparing the financial till balance sheet. I have learned that as a leader, that a group can never be successful with only good leadership but also a consistent support from those being led, contributed to the flourishing of a team or a good. Through team playing I can assure anyone that one attains a proper level of personal development. The seriousness and commitment to serving my various posts and positions, have changed me to be a dedicated person in whatever I am supposed to do. I have good time management and good interpersonal skills as well. I have served and worked with people from various ethnicity and for this reason dealing with anybody or cooperating with anyone or anything outside my culture will not strain me. I embrace change and I see myself as a resilient person. I had not mentioned that the board had to come to terms with my changes that I had proposed for the treasurer docket. Otherwise, they would have removed me from office, but only the club member had that power. So I have experienced opposition but that did not deter me from performing my duties. In a nut shell I can corporate with anybody in the right course and also I can stand up for what I believe in without fear to realize my dreams and those of others.

Bibliography
Below, Patrick J., George L. Morrisey, and Betty L. Acomb. The executive guide to strategic planning. San Francisco: Jossey-Bass, 1987.
Deluga, Ronald J. “The effects of transformational, transactional, and laissez faire leadership characteristics on subordinate influencing behavior.” Basic and Applied Social Psychology 11, no. 2 (1990): 191-203.
Saunders, Anthony, Marcia Millon Cornett, and Patricia Anne McGraw.Financial institutions management: A risk management approach. Vol. 8. McGraw-Hill/Irwin, 2006.
Smith, Linda H., Alan J. White, Carolyn M. Callahan, Robert K. Hartman, and Karen L. Westberg. Scales for rating the behavioral characteristics of superior students. Mansfield Center, CT: Creative Learning Press, 1976.