The paper "Strategy for Growth: Coventry University Accounting & Finance Society" is a perfect example of a management case study. Coventry University Accounting & Finance Society, also known as CUAFS, is a student’ s society for accounting and finance students whose key objective comprises linking students to the professional world. The activities of the Society are targeted at preparing students for roles in the banking, accountancy and finance professions (CUSU n. d). Founded specifically as a society for the accounting Society in 2011, CUAFS rebranded in 2013 as a result, it accommodated more students from other courses that also integrate finance, business and finance backgrounds.
This has expanded its membership significantly. The Society has also been integral in motivating its members to be proactive in faculty activities and the wider industry. The Society has also come up with a consulting arm that provided research, data analysis and financial advisory to the organization and the Society. The initiative is however faced by challenges related to communication (CUSU n. d). Current State of Affairs within the Society Among the range of issues facing the union is poor communication of corporate issues given the increasing membership.
In matters concerning the communication of significant issues relating to the society such as its financial situation or the results of results assessment exercise, consideration has conventionally not been given on how such information should be passed to the members. This has triggered negative perceptions on the part of the students that the CUAFS has failed to pass critical decisions, news and policies to students. In consequence, CUAFS has not been able to exert its influence and significance across the university.
This has raised concerns over its growth, as some students have opted out of the union affecting its growth. Based on these underlying problems, it is critical for the federation to come up with a growth strategy that is aligned to its expansion strategy (Coventry University 2013). Identify Growth Potential and Reasons for Growth The strategy for growth defines the priorities and directions that CUAFS should take. It also sets out a structure for the Society in order to affirm the CUAFS’ s vision of improving students’ welfare. The Society has a potential for growth if the existing setbacks are put in check.
In recognition of its existing strengths and opportunities for growth, it is indeed clear that it will rely on its leadership, finances and large membership to achieve its growth objectives. At present, the key challenge of the Society is to ensure that all its members across the University of Coventry are represented and that the students are informed on matters of interest. Therefore, a key area entails developing student communication plans for the federation’ s corporate issues that affect how the university is run.
Better communication of important information on policy issues and student initiative will have a critical impact on students. There is a need for growth if CUAFS will have to cater to the needs of all students across the university’ s campuses. The reasons for pursuing the growth strategy include students’ dissatisfaction with communication, which is a key factor that has contributed to poor means to urgently attend to student needs and student satisfaction with the university. Additionally, student communication has continued to become an intricate issue that involves a range of interactions at different university levels (Welch & Jackson 2007).