Challenges Faced by Financial Managers in a Changing Economic Environment
Challenges Faced by Financial Managers in a Changing Economic Environment
Essay should critically asses the challenges faced by financial managers due to changes in the macroeconomic environment and how these impact businesses operations. Emphasize how there are consequences related to changes in strategies and priorities and in the way the departments adjust.
The writing style must follow the Publication Manual of the American Psychological Association , 6th edition. Citations for online sources should include the online address (URL) and access date as well as the citation for the specific reference.
Do not use abstracts, use full-text articles. Publications that may be relevant for the topics listed below include: Strategic Finance, The Journal of Business Finance and Accounting, CFO Magazine, Nonprofit World, Harvard Business Review, or other accounting and financial journals.
The paper should:
- Be based on reading and research relevant to the topic.
- Be 5 to 6 double-spaced pages, not including the title page, executive summary, appendices, exhibits, and references.
- Include a one-page Executive Summary immediately following the title page that includes a statement of the major issue(s) and your conclusions and specific recommendations. The content of an Executive Summary is similar to an abstract.
- Properly cite reference sources: these may include course material, information from magazines, journals, and online sources. All reference sources must have a publication date within the last fifteen years.
- Avoid the use of passive voice – Most of us rely extensively on the passive voice in our writing. Doing so often raises issues of ‘voice’ in our writing and confuses the reader. If Word issues a passive voice error during a spelling and grammar review of your work, try re-writing the sentence with someone performing the action. To learn more about how to avoid using the passive voice, visit
https://writingcenter.unc.edu/tips-and-tools/passive-voice/
Answer preview
The role of financial managers has significantly changed over time. Viewing the role of financial managers using the traditional lens, managers are limited to only two roles. The first role encompasses providing accurate financial reports. The second role involves making decisions to support executive leadership. However, with the dynamics witnessed in the economic environment in today’s world, the traditional approach of financial management is no longer viable in obtaining the goals of the organization. Financial managers are currently facing new challenges such as completion and cash flows, succession and talent development, risks and uncertainties, and doing more with less. The paper, therefore, provides the various challenges that financial managers face…
(1900 words)