Challenges Faced By Managing Managers

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Recommended: Role of financial manager in modern business

Managers
There are many challenges a manager will face. Some are expected and you can pick them out before one would take that position, however, some are not so expected. Many different things could happen per day and they will put the managers in a tight spot. I have found several articles in the Ashford’s library that have some good information on financial managers. In this paper, I will discuss these articles and what financial managers have to do.
The article “Challenges for Financial Managers in a Changing Economic Environment,” states how businesses always change and how they are running change. Honestly, everything in this world change. Technology changes every day. Most companies are running on technology, so the employees have to be trained on the new programs all the time. “The more complex the economic system, the more complex the businesses, the more complex the interaction between economic players in a global economy, and the more uncertainties one has to face in these turbulent times, the more complex the role of managers become, including the role of financial managers” (Ilie, Livia.) There were studies that were made to figure out what challenges the finance department will face in the future. The results were:
• Regulation- The more complex the economic environment is the higher the speed of regulatory changes, the higher the need to harmonize regulation across borders. This gives additional roles in order to comply with all the regulations.
• Globalization- If the business becomes global, managers need to have a global perspective and the experience that is needed. They will also need to know how the business can operate in different cultures and regions in order to provide helpful input as the company expan...

... middle of paper ...

...he company runs if they are in different cultures or regions. With everything they already have on their shoulders, many other things are thrown at them, in a very short time period. A manager needs to deal with stress well and have great communication skills.

References

Integrity-based Financial Leadership and Ethical Behavior: A Professional Response to Meeting the Challenges and Responsibilities, Verschoor, Curtis C. Internal Auditing Volume: 18 Issue 6 (2003) ISSN: 0897-0378
Emiloju, Arijesuyo A.; Adeyoju, C. A., International Education Studies, v5 n2 p18-23 Apr 2012
Militello, Frederick, Schwalberg, Michael, Financial Executive. Jan/Feb2003, Vol. 19 Issue 1, p49-51. 3p. 2 Color Photographs, 1 Black, and White Photograph.
Livia Ilie, Challenges for Financial Manager in a Changing Economic Environment, Procedia Economics and Finance 27 ( 2015 ) 726 – 730

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