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Deloitte is a world-wide company which has independent firms located in 17 countries around the world. It provides a number of services including audit, financial advisory and tax services. Moreover, there are four renowned accounting firms in the world which is called "Big Four". A statistic showed that among the top 50 corporations in Indonesia, 42 of them cooperated with "Big Four" as their auditors. This shows the significant position of Deloitte. In order to analyze this company and understand its desired requirements for employees, the following aspects are discussed; plan, strategy, organization architecture and environmental factors.
Skills and abilities likely to be needed at the company
(i) Basic requirements
Before the analysis, the basic requirements for applicants are holding a bachelor degree and having good professional, communication and analytical skills. More specifically, we will look deeply into the operation of the company which allows us to be the top candidate. And in the following parts, I would illustrate the skills and abilities required on the basis of different aspects of the company.
(ii) Skills needed to meet the mission, vision and strategy of Deloitte
The first step of the management cycle is planning and strategizing. Planning can give direction and purpose to an organization. At this stage, the purpose of an organization is set which is the mission. The mission of Deloitte is to deliver excellent services to each client. By means of the mission, vision is then set to outline the desired future state. For Deloitte, its vision is being the most popular firm in this industry. Deloitte attains its goal through collaborating with partners around the world and working together as a whole. And that is the strategy for Deloitte. At this stage, we can discover the importance of adaptation to different cultures and good customer services.
(iii) Skills needed to meet the organization architecture
Organizing is the second step of the management cycle. Organization architecture is the totality of a firm and it consists of controls, incentives, organizational culture, people and organizational structure. Controls are metrics used to measure the performance. The Deloitte Annual Review provides the overview of the business performance which can be used to compare the performance over years. The organizational culture covers the shared values and assumption within the organization. It frames the mind and behavior of employees during decision making, taking action and providing services to clients. There are nine ethical principles shared among each independent firm which are integrity, professional behavior, competency, objectivity, confidentiality, fair business practices, responsibility to society, accountability and respect and fair treatment. "People" refers to the human resources practices, skills and each individual. Deloitte aims to assign the right job to the most suitable employee at the right time and place. The last element of organization architecture is the organizational structure. Deloitte adopt decentralization and matrix structure. It spread the authority to different independent firms with separate legal entities. Since Deloitte has its own business all over the world, decentralization allows greater flexibility in responding to environmental changes and results in better decision making. Moreover, it combines both multidivisional structure and geographical structure. For multidivisional structure, the firm is divided into divisions responsible for the distinct business area. In Deloitte, it is divided into different businesses such as audit and taxation. Besides, the geographical structure is corresponding to dividing the firm into different units based on geography. Obviously, Deloitte is separated into different firm in different countries with distinct legal entities. Each firm operates different practices based on the unique factors in that area such as national laws and regulations. In this part, ethical behavior is an essential value of the company and responsibility is also required due to the decentralization structure. The culture adaptability and interpersonal skill are again emphasized by the organizational structure.
(iv) Skills needed to meet the environmental factors of Deloitte
In additional to the firm's plan, strategy and organizational architecture, its environmental factor is also essential for the company analysis. Basically, the environment of the organization includes external, industry and internal environment. Under SWOT analysis, the strength, weakness, opportunities and threats of the organization is analyzed based on those environmental factors. In the external environment, the global economic crisis leads to a positive impact to Deloitte. The financial professionals have gained higher recognition and became more important since the positive impact provides an opportunity to them. Moreover, Deloitte is one of "Big Four" accounting firms, therefore, it faces a weaker competition compared to other accounting firms. This lowers the threat to the company. Regarding to the internal environment, it encompasses the organization, employees and resources. Deloitte treats integrity and ethical behavior as the integral part of the organizational culture. Also, its employees are assigned international projects, they work with others of different backgrounds, cultures and operational practices, this helps them to improve their knowledge, skills and capabilities which results in enhancing the firm's human capital. As mentioned above, Deloitte is one of the "Big Four". It has high reputation and becomes its intangible recourse. This resource is valuable, non-substitutable, imitable and owned by firm. Combining all the factors of the internal environment of Deloitte, the organizational culture, high valued human capital and sustainable resources build the strength of the company. After the SWOT analysis, Deloitte is found to be opportunistic and capable. In order to catch the opportunity and extend its capability, the staff should be competent.
(v) Summary of skills and abilities required
To sum up, Deloitte needs an ethical and responsible accountant who has outstanding soft skills including professional, communication, interpersonal and analytical skills; high adaptability to different cultures and hold a bachelor degree. After the analysis, it is essential to compare my current skills and abilities with those required by Deloitte, such that I can develop an action plan in order to achieve my dream career.
Through my academic education, I have developed my communication, leadership and interpersonal skills during lectures and extra-curricular activities such as participated in the school club. Moreover, I am confident in my analytical skill because I achieved top result in Mathematics and Accounting. These subjects are different from others such as history in the way that students must have a good analytical mind instead of memorizing the content. This can prove that I have the skill to analyze and solve the problems logically. However, a gap is still existed between my currently skills and the company's requirements. Since I am a year one student with major in Accounting, my professional skill is insufficient, for example, I haven't learn corporate accounting and managerial accounting, while these provide important knowledge related to this field. Besides, I don't have much chance to experience different cultures, so there's a question on whether I am adaptable to different cultures. With regard to these deficiencies, I have outlined a plan as follow.
There are around two years for me to obtain the competencies necessary to be the most attractive candidate for Deloitte before graduation. I have planned to take more courses related to this field apart from those compulsory courses, for example, I would take Putonghua for Office Administration and Contemporary Business Communication. Taking these courses allow me to strengthen my soft skills in additional to the knowledge learnt from other compulsory lectures. Moreover, I understand that the knowledge gained from the university is not enough to be the top candidate because there are many graduated students with the same qualification are competing with me. To be an outstanding candidate, I would gain as much business knowledge as I could outside lessons. For example, attend talks held by the accounting department and read more business related news. These activities can help me to have a better understanding about the real business world because sometimes it can be different from the standard business world in the textbook. In addition, I would apply for internship in Deloitte and apply a summer job in an accounting firm to gain more experience in the real business situation. If time is sufficient, I would also join some study tours to widen my horizon and learn the cultural differences. After graduated, I hope I could get an offer from Deloitte. By the time that I have used to work in this business, I will apply the qualification programme which allows me to become a certified public accountant (CPA). This programme provides different training workshops to improve the knowledge and skills necessary for a CPA.
Furthermore, I could also apply the job characteristic model to my action plan. The aim for this model is self-motivation and my job is to narrow down the "gap". The five core job characteristics in this model are skill variety, task identity, task significance, autonomy and job feedback. The main idea of the first four characteristics is to understand the importance to complete the job, use different skills and have freedom in scheduling work. Through the analysis of the company and myself, I deeply understand the details of the "gap" and the importance of my job. For the last element, I would be motivated if I could receive the feedback of the work I have done. The feedback can be obtained from lecturers, employers or parents. The presence of these five elements, I can be motivated to achieve my goal which is to reach the standard above that required by Deloitte. Moreover, my work effectiveness can also be raised.
As mentioned before, I have gained interpersonal, communication, leadership and analytical skills mainly in my secondary education. I was the secretary of Hewitt House. My responsibility was to manage the paper works and organize activities with other members. Our house has done quite well, for example, we won the champion in the Athletics Day, obviously that's not my own success but for all house members. However, it was important to be well organized in order to achieve this good result and this proved that I had the interpersonal skill to work and organize with our house members. Also, I was selected as a prefect in both primary and secondary education. I had learnt how to maintain the order of the school and lead the students to have good discipline. Besides, I worked as a tutor for my part time job in last year. I was able to control the behavior of my students. Both of them have improved my leadership skill. Corresponding to my communication skill, I studied Putonghua and English since primary education, I am confident on my fluency in these two languages. For example, when I went to Taiwan in last summer, I could communicate well with Taiwanese in Putonghua. For the analytical skills, I discovered that I am sensitive to numbers since F.3. Starting from F.3, I achieved good result in different mathematics-related subjects such as Mathematics, Additional Mathematics, Mathematics and Statistics and Accounting.
With the further improvement of these skills and other required abilities, I believe that I can be a competent and suitable candidate.