Topic > Challenges Faced by Managers - 937

ManagerThere are many challenges that a manager will have to face. Some are expected and you can spot them before you take that position, however some are not so expected. Many different things could happen every day that will put managers on edge. I found several articles in the Ashford library that have some good information on money managers. In this article I will discuss these items and what financial managers need to do. The article “Challenges for Financial Managers in a Changing Business Environment” states how companies are always changing and how they manage change. Honestly, everything in this world changes. Technology changes every day. Most businesses rely on technology, so employees need to be constantly trained on new programs. “The more complex the economic system, the more complex the businesses, the more complex the interaction between economic actors in a global economy, and the more uncertainties faced in these turbulent times, the more complex the role of managers, including the role of financial managers” (Ilie, Livia.) Studies have been conducted to understand what challenges the financial department will face in the future. The results were: • Regulation: the more complex the economic environment, the greater the speed of regulatory changes, the greater the need to harmonize regulation across borders. This gives additional roles to comply with all regulations. • Globalization: If the company becomes global, managers must have a global perspective and the necessary experience. They will also need to know how the company can operate in different cultures and regions to provide useful input as the company expands…middle of paper…the company works if they are in different cultures or regions. With everything they already have on their shoulders, so many other things are thrown at them, in a very short space of time. A manager must manage stress well and have excellent communication skills. References Integrity-Based Financial Leadership and Ethical Behavior: A Professional Response to Meet Challenges and Responsibilities, Verschoor, Curtis C. Internal Auditing Volume: 18 Issue 6 (2003) ISSN: 0897-0378Emiloju, Arijesuyo A.; Adeyoju, CA, International Education Studies, v5 n2 p18-23 April 2012Militello, Frederick, Schwalberg, Michael, Chief Financial Officer. January/February 2003, vol. 19 Issue 1, p49-51. 3 p. 2 color photographs, 1 black and white photograph.Livia Ilie, Challenges for financial managers in an evolving economic context, Procedia Economy and Finance 27 ( 2015 ) 726 – 730