Financial Development Of Adept Owl Games: Agenda, Participants, Recording Minutes - Essay.

You will demonstrate the skills and knowledge necessary to prepare for a meeting in accordance with organisational requirements.

Business information

The company named Adept Owl games is a popular distributor and publisher of dice, cards and board games manufacturing organization. If the financial report of the company is being analysed. It will be identified that in, the current scenario the company is suffering from the financial crisis. On the other hand, this has also been identified that the rate of expanse has increased in the company. Therefore, the organization named Adept Owl games has decided to conduct a meeting fir discussing the financial problems in the organization. The purpose of the meeting is to analyse the financial statement of the company of last three years and depending on the financial crisis; the new budget plan will be developed.  

In order to conduct the meeting, the permission has taken from the director. After getting the permission, notice of the meeting by mentioning the agenda of the meeting has been distributed to the stakeholders and the employees who will be participated in this meeting. The name of the meeting is ‘Meeting for financial development' and will be developed in the five-star hotel at 51 Barner st, Pyramid Hill, VIC 234, Australia. The date of the meeting is 08-05-2018, and it will be held at 12:30 p.m.

The total number of 1500 people will participate in this meeting. Few are mentioned below

• Chairman
• Internal auditor
• Finance manager
• Secretary of the company
• Assistant account manager
• Executive officer
• Main stakeholders
• The independent directors

• The agenda of the meeting is as follows
• To declare the budget of the company in the coming year
• To consider influences of  previous meetings
• To discuss on the other expanses

• The financial arrangement needs to be done.
• Invitation cards for the stakeholders and employees need to be distributed properly.

• In the meeting, the matters will be discussed on the basis of agenda.
• By maintaining the business ethics, policies and legal regulations, the meeting will be conducted
• In this meeting, the financial declaration will be done in a proper manner

In this meeting, the agenda of the company will be clarified to each and every person involved in this meeting. The financial report will be shown to the people involved in the meeting. Here the rate of profit and loss for the last three years will be clarified. The financial distribution will be done by maintaining the rules and influences of external environment on the business. Therefore, this can be said that this all the financial rules and regulations will be maintained at this meeting.

The responsibility which needs to be maintained in this meeting

After getting the permission from the director, the secretary of the company will develop the agenda of the meeting. The notice of the meeting will be distributed properly to all the participants. The arrangements of accommodation and foods will be managed by the secretary. On another hand, the sitting arrangement, video conferencing and health facilities will be managed by the secretary.

The preparation of the minutes

By using the electronic format the minutes will be prepared. In order to conduct the meeting, the secretary of the company will maintain the records in the electronic format. Each and every page will have the signature of the director.

The paper for the meeting forms will be submitted to all the participants before 30 days of the meeting date. The secretary of the company will distribute the paper to the address o the participants.

Respected stakeholders,

We are sending this letter to inform you that in this year on 8^th may, we are going to conduct a meeting depending on the financial changes in our organization. As we all know in the last year our company has suffered various challenges due to improper financial management. Therefore, we have decided to manage the situation by developing an effective financial budget plan. We have arranged a meeting in 51 Barner st, Pyramid Hill, VIC 234, Australia at 12:30 p.m. you all the invited for the meeting for giving your valuable suggestion.

Meeting topic

We have attached the address and timing and list of required formalities, which needs to be maintained in this meeting.

Location of the meeting: Five-star hotel in 51 Barner st, Pyramid Hill, VIC 234, Australia

Time: 12:30 p.m

Date: 08-05-2018

Attendance

• Directors of Adept Owl games
• Auditor
• Investors
• executive officer
• Secretary of the company

Agenda items

• Taking the appointment from the directors
• Declare the budget of the company in the coming year
• Collecting the records of company expanses
• Collecting the last three years financial report

Items for action

• Preparing the notice
• Appointment with the directors
• Approval for the budget of meeting
• Collecting the previous financial report
• Other expanses

 In the meeting paper, the agenda have been discussed. In the areas where the meeting has focused has mentioned.

 The process of preparing for the minute starts with the notice to each shareholder informing them of the meeting objectives and the time that they would be spending for the meeting. The notice will be provided in the form of a proxy form that will be helping to understand the objectives of the meetings and the advantages that would be derived from the sessions. The venue and the different attributes that will be discussed in the meeting will be provided in the notice. It will help in informing the recipients of the information on which the meeting will be held, which will be helping the shareholders of the company to prepare themselves on the topic of the meeting.

The different tasks that are not completed relating to the financial audits of the company and the other related tasks are required to be completed to assess the full status of the organization in the meeting. It will be helping the organization to bring in the required change in the structure of the same as per the needs of the business to sustain in the markets. The meeting is undertaken to consult with the authorities of the organization to facilitate modification in the systems of the same. Therefore, the tasks that are pending are required to be completed for getting the proper view of the meeting and to assess the manner in which the meeting will be helping the organization to facilitate the modification in the systems.

The meeting agenda that was formed while preparing for the meeting is based on the formulation of the financial statements for the organization as it will be helping the same to identify the different issues that are faced by the business in the internal and the external environments. The identification of the meeting agenda and the different aspects of the change that is required to be undertaken by the business as per the meeting minutes will be helping the same in bringing forth improvements in the systems and the processes.  The registrar of the organization is bestowed with the responsibility of the minute taker to whom the template for the meeting minutes template.

The issues that are faced by the organization is due to the improper financial statements that have affected the strategic planning of the business to ring in improvements. The different issues in the financial planning and the assessment of the same have affected the capabilities of the organization to bring in modifications.  On the other hand, the assessment of the financial reports will be helping the organization to assign different resources based on the identification of the needs of the same. The allocation of the resources has helped the organizations to undertake its growth process, which is based on the understanding of the needs of the business to make its progression in the market.  

Participants

Through the meeting, the organization has taken steps to adhere to the problem solving cycle, which will be helping the business to identify the issues that are faced by the organization relating to the financial statements and the manner in which the goals may be asserted. It helps the organization in systematically planning the steps and evaluating the alternatives to bring in changes in the systems of the business in the market. In this case, through the formulation of the financial statements, the company might be benefitted to bring in changes in the systems. It will be helping the organization to sustain in the different market conditions.

 At the conclusion of the meeting, the minutes are being collected from the minute taker to get a track of the efficient functioning of the business as per the needs of the same to make its progress in the markets. The conclusion of the meeting will be helping the business to understand the different aspects of the change in the functioning of the business as per the needs of the business. On the other hands, the identification of the needs of the organization and the continuous improvements that are undertaken by the same has helped the business to bring in improvements in the system of the business.  The appropriate functioning of the business is based on the innovations and the problem solving strategies that are undertaken by the businesses in the market. It has helped in understanding the different levels of change that are undertaken by the organization as per the market competition.   

In order to avoid the unnecessary mistakes and flaws in the meeting, the minute's checker is highly necessary; thereby, by understanding the significance of this fact, the minutes have been checked to avoid the error in grammar and spelling. In addition to this, proper minutes writing process have been used. For example, when the meeting was over, all notes have been kept together and the minutes have been written. However, it is important to write the minutes as soon as possible after the meeting keeping everything fresh in mind. In order to create a positive impact on the meeting, a proper review of the outline has been providing and some additional notes have been included in the notes. This collection of additional notes help to clarify the raised points and ensure that all decisions, actions as well as motions are appropriately noted. As the official "minutes-taker", all individuals involved in the meeting have played the role of disseminating the minutes. To ensure that each element is in place, the chair has reviewed and revised the approved minutes of the circulation.

Understanding the importance of minutes in the meeting, appropriate perspectives have been created to take genuine decisions and determine the direction. It is identified that the minutes are the way through which one can look back and remember what was discussed, decided and required actions were agreed to take. To avoid the errors and make an accurate minutes some important steps have been taken such recording the name of the all individual people taking part in the meeting and using the agenda of the meeting as the starting point as well as recording the summary of some of the significant part of the discussion for each time in the agenda. In this context, recording the actions items are also important to make an accurate minute. Generating and circulating the accurate minutes promptly could enhance the effectiveness and relevancy of the meeting. 

Requirements of the meeting

In order to conduct the meeting, I have taken the permission from the directors of the company. As I have noticed that the company is dealing with financial crisis. On the other hand, I have also analysed if the proper budgeting plan will be developed by the company, it will; be helping to manage the situation. Therefore I have decided to conduct a meeting. In the meeting, I have invited near about 1500 people. Most of them are important inventors of the company. Not only the investors but also the directors, financial advisors, executive officer, finance manager and secretary of the company have been invited. In order to invite the investors, I have sent them the letter, where I have mentioned about the purpose of the meeting. On the other hand, where I have also mentioned about the place and time for conducting the meeting. I have decided to conduct the meeting for analysing the issues which have to influence the rate of profitability of the organization. In the meeting, the conventions have been discussed on the basis of the agenda. This can be said that the meeting has aimed to maintain all the ethical codes and business policies, which are required in the trade industry. Depending on the rules and regulation the further steps have been taken at the meeting. I have also identified that the organization needs to be more specified about its goals and objectives to the employees. The financial budget has been clearly discussed. I have also analysed that in the organization, extra expanses have been increased. Therefore the company named The Adept Owl Games Company needs to focus on developing the proper budget plan. In order to develop the budget plan, the company has reviewed the last three years budget plan, where it has been identified that the due to excessive expanses, the company was dealing with the financial crisis. I have decided to reduce the manufacturing cost for reducing the expanses. On the other hand, I have also decided to invest more in the promotional activities. This will be helping me in the case of increasing its popularity in the market. I have also decided to develop proper monitoring tea in the organization for analysing the overall productivity of the company. In order to conduct the meeting I have applied for $7000, however, the director has only allocated $6000. Within the budget, I have arranged the accommodation, food, drinks, software, stationary products, projectors sitting arrangements and many more.

In order to develop the action plan, I have analysed the steps, which are required for the company. This can be said that in this process I have analysed that the involvement of stakeholders is very important.  Before starting the plan, I have collected the permission from the directors. After completion this this, I have set the budget plan for conducting the meeting. As I have analysed that the involvement of investors and shareholders are very important for solving the problem, which is affecting the company financial status, therefore I have invited the investors in the meeting. As the meeting has developed in the 5-star hotel, therefore, I have arranged the all the accommodation as well as sitting arrangements for the meeting.  The Edward De Bono’s Six thinking hats. This has played an important role to influence my decision making process. Therefore, this can be said that this has helped me a lot in the case of taking any decision regarding the meeting.

Organisational requirements for conducting meetings

I have implemented my action plan in the proper manner. I have planned for welcoming the participants in a humble manner. I have interacted with them for understand if they are comfortable with the situation or not. I have also gathered the financial report of the company for analysing the report. In the meeting, the chairperson has mentioned about the issues faced by the organization in the previous years. As the meeting was very important, therefore I have arranged the video conferencing facility for the stakeholders and employees, who were not able to attend the meeting. This has also helped them to join in the meetings. For conducting the video conference, I have arranged the software, computers, microphones, projectors and adaptor. These are very important in the case of developing a proper meeting, on the other hand, the sitting arrangement was efficient for the participants. As the meeting was held at 12:30 p.m., therefore I have arranged food and drinks for them. The quality of foods was strictly maintained. On the other hand, for the emergency purpose, I have also arranged the fire and water protection services. In my participant list, there were few aged stakeholders, who need medical attention all the times. Therefore I have also provided the separate sitting arrangements for them. On the other hand, a medical team has been appointed for taking care the disable people. Therefore, this can be said that the meeting plan has been implemented in the proper manner.

 As I have repeatedly discussed that the company has dealt with the issues regarding the financial crisis, therefore this can be said that in the meeting the financial issues in the company has been solved. In order to manage the situation, I have used the "problem solving cycle' in the meeting. This has helped me to deal with the financial crisis of the company. On the other hand, I have also used Edward De Bono’s Six thinking hats in the decision making process. By using this theory, I have got the change to engage a large number of investors in the decision making process. On the other hand, by using the problem solving theory, I have obtained the chance to motivate them in their work. As I have appointed as the chair person in the meeting, it was my responsibility is to manage all the actions properly. It was also my responsibility to clarify my ideas to the participants. It was also my responsibility in the meeting to motivate the participants towards the organizational development. Therefore this can be said that I have played an important role in the meeting to convince the investors to invest more in the company. Another way, this can be said that the organizational development was the first responsibility of mine. I have also monitored the overall operations in the company so that the meeting can be conducted in the proper manner.

During the session I have analysed that I have become nervous for presenting the company issues to the large number of audience. Therefore I have analysed that I need to work on this for improving myself. On the other hand, during the meeting I have also faced the conflicts among the stakeholders regarding their opinion, which was quite unexpected therefore, in the next meeting I will try to maintain a proper environment in the meeting place. As I have done humble welcome to the participants, however, if different rewards would be introduced to the stakeholders, this would be helping to grab their attention. In my performance, I have analysed that people were not listening me properly. Therefore this can be said that if I would give more effort, I could have grabbed the participants’ attention. As the number of participants was large, therefore, most of them has not got the chance to discuss their opinion. I have tried to get the opinion of random people, which has taken too much time. I wanted to conduct the meeting in the peaceful manner, however, in the end it has changed the environment. Although the financial issues have been analysed, but I wanted to discuss about the extra expenses, which has not pointed out during the meeting. Therefore I have decided to make an effective objectives for conducting the meeting. On the other hand I have also analysed that the meeting plans have been discussed depending on the issues, which has demotivated others. Therefore, this can be said that if the meeting plan would be developed depending on the basis of the financial possibilities, it would be able to attract large number of attention of the participants. I have also analysed that the meeting minute have maintained properly during the meeting. This can be considered if the next financial plan will be developed depending on the proposed meeting minute, it would be more effective. On the other hand, in order to analyse the meeting minute, I have used the strategy of reviewing the agenda. I have also noted the time of action. By using this strategies I have got the chance to develop my plan in the proper manner. This has also helped me in the case of motivating myself for the further meeting arrangements. I have also mentioned in this study that this experience has helped me in the case of facing the challenges in the further meetings. Through this meeting I have also understood the important responsibilities which are required for the organizational meeting. As I have understood my weakness, this would help me in the case of motivating me towards improvement. This can also be said that, what I have learned from this meeting, this will help me to deal with tough situation, throughout my life.