Management represents the act of putting people to work together in order to complete certain common objectives using the accessible resources in an efficient and effective manner. Because organizations can be regarded as systems, company management in Singapore can as well be explained as human action, together with design, to enable the production of useful results from a system. Generally, company management can be advised by qualified accountants.
Table of Contents
Management functions in Singapore
Management functions include:
• planning;
• organizing;
• staffing;
• directing; and
• controlling a system.
Our accountants in Singapore can provide you with more information on this matter.
We can also advise on GST registration matters in Singapore.
In case you need other types of services, such as audit services, you can rely on our audit firm in Singapore.
The Public Accountants Oversight Committee or PAOC is responsible for overseeing ACRA’s audit regulations in accordance with the Accountants Act. The Committee is made up of seasoned experts from the business world, the public sector, and the auditing industry. Our audit firm in Singapore also works in accordance with the standards imposed under these regulations.
Resources within company management in Singapore
There are several various resource types in management. Resourcing includes the use and the management of:
• Human resources;
• Financial resources;
• Technological resources;
• Natural resources.
Our accountants are at your disposal with detailed guidance on the dividend tax in Singapore. We also offer payroll administration support. An employee’s cumulative payroll calculations are referred to as their earnings record. All records pertaining to that employee’s pay, deductions, and withholdings must be retained during their employment, in addition to the earnings record. For this purpose, companies are recommended to use specific services dedicated to payroll in Singapore.
Types of company management in Singapore
There are three main types of company management in Singapore. These are:
1. Traditional Management
It is an organization with a hierarchy of its employees, structured in low level management, mid-level management and senior management.
In traditional management organizations, the manager establishes the expectations for the employees who are required to accomplish objectives, however it is the manager who obtains the reward for meeting these objectives.
2. Team Management
In a team management system, the manager is there to guide and assist the employees in working together to resolve issues, however the manager does not order the policy. The reward for accomplishing objectives is received by the entire team.
3. Servant Management
In this type of business management in Singapore, the manager assists in supplying resources needed by the team members in order to achieve the objectives of the organization. In servant management, the system identifies the employees as experts in their specific domain and assists them to work in an efficient manner.
Regardless of the management type used by a company, the main goal of managers is to assist the members of the team in reaching the objectives of the organization and preserve its policies and standards.
The management system is the result of important decisions made by certain individuals, as well as by group managers positioned in higher levels of the hierarchy of the organization. The management system of a company in Singapore generally consists of factors included in domains such as methodological pronouncements, tax compliance, informational, organizational, psycho-sociological and motivational. Such a system is also comprised of the relations founded among these domains for an efficient achievement of the goals of the organization.
Are you looking for hands-on advice for company management? Please contact our accountants in Singapore for personalized support and professional service.