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Price Waterhouse Coopers

Introduction

Price Waterhouse Coopers is privately owned organization with headquarters in London, United Kingdom. It was formed in 1998 through a merger between Price Waterhouse and Coopers and Lybrand. It deals with professional services and it is the second largest professional services firm. It is a multinational organization and has offices in one hundred and fifty nine countries across the world. It faces competition from KPMG, Deloitte, and Ernst & Young. It was rebranded in 2010 in light of competition and the need to attain competitive advantage.

Leadership and Management Style

Price water house coopers apply change leadership style and interactive management style. The company is a global corporate with decentralized leadership and management in specific countries. They execute their duties by empowering the organization to accomplish the company’s strategic objectives. The process is systematic and requires leaders to identify precisely and focus narrowly on the most impacting goals, concentrate the efforts of the team and employees on actions of high impact, share transparently the real time results, make course corrections timely and lastly ensure mutual members accountability (PricewaterhouseCoopers, 2005p.64).

The effective leadership and management styles in Price Waterhouse Coopers is grounded on principles of commitment, clarity, translation of the companies goals to daily goals, synergistic teamwork, enabling sponsorship and accountability.

Leadership Development Strategy: PricewaterhouseCoopers (2007p.109) observed that the principles of focused leadership and management include clarity, commitment where the members of the company believe in the company’s goals to be achieved, translation to action which means the ability of the management to know what to do to achieve their goals, enabling sponsorship, accountability and synergy.

Organizational Culture

The organizational culture according to Deiser, R. (2009p.229) is derived from people who created it. At price Water House Coopers Company, the people form the heart f their success and strategy. They focus on equal opportunity for employment, inclusion and diversity in the process of recruitment and ensure they attract many candidates from various backgrounds, non traditional and traditional. The company provides people with different types of tools to enrich them in daily coaching, professional experience and have productive feedback. The organizational culture of Price Water House Coopers has four dimensions; professional development, life or work flexibility and quality, commitments to the communities, the Price Water House Coopers family and support to the working parents (Bowen, Rajgopal and Venkatachalam, 2008p.331).

  • Professional development

According to Evan & Chan-Gon (2010p.97), Price Water House Coopers emphasize on significance of the real time feedback to make them enhance their brand and improve on professional skills. The company also offers training and opportunities for development to stay relevant

  • Life/work flexibility and quality

The company understands that to perform maximally, people need to be flexible. Their holiday and vacation policy supports the company’s commitment.

  • Commitment to the communities

Price Water House Coopers is committed to transparency and trust in the markets, development of responsible community and leaders that flourish and managing the company’s environmental impact (PricewaterhouseCoopers, 2005p.87).

  1. Support the working parents

Price Water House Coopers programs, resources and benefits are designed to assist the working parents meet their career and family demands. The culture of the firm acknowledges the challenges and therefore provides the flexibility and career options.

  • The Price Water House Coopers family

a person is considered a family of Price Water House Coopers  when they come on board as professionals. Even after choosing to depart, the company stays connected to them through the community network of the alumni (Deiser, 2009p.34).

Corporate Values and Norms

Leadership Development Strategy: PricewaterhouseCoopers. (2007p.57) pointed out that Price Waterhouse Coopers corporate values are in form of three pillars; teamwork, excellence and leadership. The company believes that under teamwork, best solutions come from the clients and colleagues working together. Effective teamwork needs sharing, respect and relationship. Under excellence, the company believes in delivering of what was promised and adding more value beyond what was expected (Bowen, Rajgopal and Venkatachalam, 2008p.335). Excellence is achieved in Price Waterhouse Coopers through agility, learning and innovation. Finally, under leadership, the company believes in leading with clients, people and leadership thought. Leadership demand integrity, vision and courage (Bowen, Rajgopal and Venkatachalam, 2008p.336).

In corporate norms, Price Waterhouse Coopers conduct businesses within applicable framework of professional law, standards and regulations in addition to the company’s policies and standards. Price Waterhouse Coopers has code of conduct for all its firms and people based on the company’s values.

Every member is obligated to understand and know the codes guidelines and values they are based. Furthermore, they are obligated to comply with the spirit and letter of the code and assist others comply too (Evan & Chan-Gon, 2010p.102).

PricewaterhouseCoopers (2005p.221) observed that some of the corporate norms of Price Waterhouse Coopers include upholding the name of Price Waterhouse Coopers, the company’s core values, respecting others, behaving professionally, corporate responsibility, performing their responsibility and ethical decision making

Teams and Employee Empowerment

  1. Volunteer continuum

Price Waterhouse Coopers Company has established structures of employee and team empowerments. Some of the employee empowerment is engaging the Price Waterhouse Coopers employees in community experiences that are meaningful that help them build their capabilities. Through this initiative, the company deepened the understanding of their employees in issues related to nonprofit sector through the company’s volunteering continuum, a strategy that helps the company guide its work in the community (Deiser, 2009p119).

According to Leadership Development Strategy in PricewaterhouseCoopers (2007p.88), team empowerment in the Price Waterhouse Coopers company is enhanced through volunteering. During the financial year of 2013, about 2300 staff members participated in the 313 company led team volunteering initiatives. This is translated to about 17,200 volunteering hours to the community (Bowen, Rajgopal and Venkatachalam, 2008p.340). The company uses the volunteer continuum to assist expand and deepen the firms ways of volunteer programs enhance the leadership skills, while at the same time maximizing on their commitment and effective level within the charitable sector.

According to Evan & Chan-Gon, 2010p.105), the company formalized the skills based volunteering definition across the Price Waterhouse Coopers global network. Skilled volunteering incorporates use of professional skills of an individual but in the informal way that does not include service deliver for the Company will be liable. These include to coaching, mentorship and training on financial literacy

  1. Environmental stewardship

To further empower the employees and teams, Price Waterhouse Coopers environmental network empowers the employees. The network is led by employees who are enthusiastic who also strive to be change catalysts. The environmental committees within the firm provide opportunities for the staff members who are passionate about stewardship of environment to connect with others and exchange ideas. The members of the committees drive change both within the Price Waterhouse Coopers and out into the larger community, raising some awareness among some clients and colleagues and building skills as leaders who are responsible (PricewaterhouseCoopers, 2005).

  1. Diversity and inclusion of people

Price Waterhouse Coopers invest in their employees and teams at every career steps to help them achieve their personal and professional goals. Everything in the company is done based on collaboration and teamwork. These may include submission of proposal to clients, learning experiences and ideas from others and engaging in volunteering activities with fellow colleagues (Deiser, 2009p.138). This way the empower the employees and create culture and high performance where everybody supports and challenges each other and members can play their role as individuals for collective success.

The Price Waterhouse Coopers company also continues to help their employees to develop new skills through working practices which are enhanced, inclusion of initiatives, diversity, supporting life or work flexibility, coaching which are enhanced. The company also encourages the development of a strong mindset of responsibility by engaging employees in conversations that are related to both marketplace and environmental initiatives. Leadership Development Strategy: PricewaterhouseCoopers. (2007p.54) observed that by the company giving employees the right tools; they are able to understand the impact of their doings on others and the society interconnectedness

Conclusion

In conclusion, Price Waterhouse Coopers is well established and functions effectively. The management and leaders are of high integrity and good values. The company has corporate culture of good moral values compounded by the culture which enhance employee development professionally. The organization also invest some of their profits through charity work and assistance to the community through corporate social responsibility, volunteering and environmental stewardship.

References

PricewaterhouseCoopers. (2005). 8th annual global CEO survey: Bold ambitions, careful choices / PricewaterhouseCoopers. New York: PricewaterhouseCoopers.

Leadership Development Strategy: PricewaterhouseCoopers. (2007). S.l.: American Productivity & Quality Center (APQC.

Deiser, R. (2009). Designing the smart organization: How breakthrough corporate learning initiatives drive strategic change and innovation. San Francisco, CA: Jossey-Bass.

Bowen, R. M., Rajgopal, S., & Venkatachalam, M. (September 06, 2008). Accounting Discretion, Corporate Governance, and Firm Performance*. Contemporary Accounting Research, 25, 2, 351-405.

Evan, M. B., & Chan-Gon, K. (June 01, 2010). Creativity Management in Public Organizations. Public Performance & Management Review, 33, 4, 619-652.

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