ACCA BT Course - Chapter 23: Personal Effectiveness & Conflicts (Part 1)

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In this video, the focus is on personal effectiveness and conflicts at work, particularly in the context of the accounting profession. Personal effectiveness involves having the necessary skills to perform technical work accurately and timely, especially under tight deadlines. For accountants, this means meeting high standards of accuracy and efficiency, especially when reporting financial statements. Time management is a critical skill in this demanding profession, and it consists of planning and controlling how time is used to boost productivity.

Time management is defined as the process of organizing one's time to accomplish tasks effectively. Everyone has the same amount of time each day, and successful accountants distinguish themselves by efficiently planning their time to handle their workloads effectively. There are four main purposes of time management: planning your time wisely, completing more work within the available time, eliminating wasted time, and prioritizing important tasks.

To manage time effectively, one should employ several techniques. First, planning and organizing one’s tasks is essential; this includes regularly reviewing one's schedule for potential issues. Second, creating an activity log helps track how time is spent, allowing individuals to identify what can be delegated or removed from their schedule. Third, valuing time and being cost-effective in its use is important, as saving time can translate to saving money and increasing overall productivity. Fourth, making daily task lists is crucial for staying focused and ensuring that priorities are addressed. Finally, prioritizing tasks based on their urgency and importance allows individuals to focus on what truly matters.

Barriers to effective time management can be internal or external. Internal barriers include self-discipline issues, procrastination, and lack of motivation, which stem from personal characteristics or work habits. External barriers include management styles and workplace culture, which can make time management challenging. Overcoming these barriers involves being assertive, learning to say no, identifying time-wasters, and leveraging personal energy cycles. It’s crucial to recognize and address the causes of procrastination, such as feelings of inadequacy or lack of skills.

To tackle external barriers, individuals should focus on doing what is right and effective before concentrating on efficiency. It's vital to prioritize important tasks over urgent but less significant ones. Breaking big projects into smaller, manageable steps can also help in completing them efficiently. Negotiating with others can improve time utilization, particularly for tasks that may not be important but are urgent.

This video emphasizes the importance of mastering time management techniques to enhance personal effectiveness and handle conflicts efficiently in the workplace. Effective management of time leads to higher productivity and better quality of work, essential in the demanding field of accountancy.


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