Financial Management Challenges
Financial Management Challenges and Ethics
BUS 401 Principles of Finance
Instructor: Richard Burke
4/21/14
Financial Integrity and Foreign Markets Find at least two articles from the ProQuest database that highlight and discuss two of the biggest challenges facing financial managers today. One of the articles should be about the challenge of maintaining ethical financial integrity and the other article should be on any other challenge that a financial manager may face (e.g., competition, foreign markets, government intervention, etc.).
Financial managers face countless challenges ethical and financial alike. These challenges can be known to affect the reputation of the firm, and the ethical approach taken can set a positive or negative moral standing for the firm. The challenges alone would be a tough job for any normal individual, but financial managers also must deal with the rising demands that have been placed on the institution that span over a much wider area and deal with a countless different activities. The first portion will be ethically concentrated and touch on integrity and market reporting. There are a lot of mediocre leaders out there; I know, they’ve been my bosses. However, when it comes to financial managers, mediocre just won’t do the job. But what’s the difference between a good leader and a mediocre one? Doing a job just to get paid and using the smallest amount of effort to do so is typically the mindset of a bad or mediocre leader. Knowing your job includes many tasks, one of which and most importantly is to lead others with good examples of ethical and financial responsibilities is an example of a great leader. The lack of leadership in every level of the organization can affect the whole ethical integrity of the financial manager. “This leads to the offering of bribes, inaccurate timesheets reporting or the provision of misleading information,” (Hennessey, 2007). The ethical standing of the
BUS 401 Principles of Finance
Instructor: Richard Burke
4/21/14
Financial Integrity and Foreign Markets Find at least two articles from the ProQuest database that highlight and discuss two of the biggest challenges facing financial managers today. One of the articles should be about the challenge of maintaining ethical financial integrity and the other article should be on any other challenge that a financial manager may face (e.g., competition, foreign markets, government intervention, etc.).
Financial managers face countless challenges ethical and financial alike. These challenges can be known to affect the reputation of the firm, and the ethical approach taken can set a positive or negative moral standing for the firm. The challenges alone would be a tough job for any normal individual, but financial managers also must deal with the rising demands that have been placed on the institution that span over a much wider area and deal with a countless different activities. The first portion will be ethically concentrated and touch on integrity and market reporting. There are a lot of mediocre leaders out there; I know, they’ve been my bosses. However, when it comes to financial managers, mediocre just won’t do the job. But what’s the difference between a good leader and a mediocre one? Doing a job just to get paid and using the smallest amount of effort to do so is typically the mindset of a bad or mediocre leader. Knowing your job includes many tasks, one of which and most importantly is to lead others with good examples of ethical and financial responsibilities is an example of a great leader. The lack of leadership in every level of the organization can affect the whole ethical integrity of the financial manager. “This leads to the offering of bribes, inaccurate timesheets reporting or the provision of misleading information,” (Hennessey, 2007). The ethical standing of the