Ethical Issues in the Finance Department of an Industry

The finance department of any firm or institution plays a significant purpose in any decision making, operations and the running of a firm. Its major duties are to give financial advice to the CEO, other managers and customers. The advice helps them in making healthy decisions in their businesses.Advertising We will write a custom essay sample on Ethical Issues in the Finance Department of an Industry specifically for you for only $16.05 $11/page Learn More The sector ascertains any decisions made by a firm leads to the profitability of the firm and growth of the company. As a division manager of the athletic team, the finance department will give information on the previous sales and provide a detailed report on how the products in the sale were fairing in any of the markets. This information is useful in guiding the division manager in the decision of making on new opportunities (Vengel 45). This information through data mining skills in the informatio n system would help assess the opportunities presented by the different markets. From the information gained the marketing department can tell which product will require sales promotion or product awareness campaign. The data on sales and revenue presented by the accountants will assist in calculating the net profit made from the sales. Information on the profits will guide in allocating a given amount of money to each sector of the company through effective budgeting. The accountants will give relevant information on the expected expenditure and the expected gain from all the investments made by the company in all fields. The finance department will assist in evaluating the business opportunities by carrying out an economic evaluation. This will consist of profit statements, cash flows and income statements evaluation guided by the business plan provided. The business plan will show the product/service to be provided, a list of suppliers expected to provide the materials and the me thod used for acquisition. The market targeted and the business operation will also be discussed by the board of shareholders of the company. Ethical issues from any finance department of an industry affect all the shareholders of the business. Many people think that the finance sector is the most unethical sector of any industry. This could be true considering that crucial decisions in most firms are made by the finance department. One of the ethical responsibilities of the finance department is to protect its clients by ensuring that they comply with the various tax laws. This helps clients to adhere to the state laws and rules by the finance maintaining their independence in making proper ethical decisions. The finance department should not equate legal behavior or decisions with moral behaviors. Most decisions may be legal but that does not make them ethical.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To the employees, the business should not make profits while exploiting their employees. This means that they should not cut the employee’s benefits. This come as a result of the company needs conflicting with the professional duty. They should balance the employee’s needs with those of the company. The customer must also be considered in any ethical decision making process (Clifford, 203). If consumers think that the finance sector ignores its ethical responsibility, then they move to other businesses. Decisions made by the finance department should rarely affect the costumer, if possible. The business should offer enough information on their services and products to the customer. The community also should be considered before making decisions avoid unethical issues from the business. The community provides the necessary infrastructure to any business, so the principal finance decisions should cater for the community needs too. As a division manag er, a good relationship with the finance officers would be maintained by willing to learn the concepts and skills used by the accountants. The relationships can be enhanced by serving others and helping out without any excuses. As a manager, one ought to know how to persuade and influence other employees to assist you hence helping you to achieve goals. The skills learnt would help in future decision making and implementing policies that will earn profits for the company. The finance sector will also help one acquire leadership skills and utilize them in the manager post (Audi, 102). Works Cited Audi, Robert. Business Ethics and Ethical Business. New York: Oxford University Press, 2008, Print. Clifford, Bernard. Test Policy and the Politics of Opportunity Allocation: The Work Place and the Law. London: Springer, 1989, Print.Advertising We will write a custom essay sample on Ethical Issues in the Finance Department of an Industry specifically for you for only $16.05 $1 1/page Learn More Vengel, Allan. The Influence Edge: How to Persuade Others to Help Achieve Your Goals. San Francisco: Berrett-Koehler, 2001, Print. This essay on Ethical Issues in the Finance Department of an Industry was written and submitted by user Anabelle Hutchinson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Functions of Management Paper

Functions of Management Paper Introduction Management is the process of operating with individuals and resources to achieve organizational aims with efficiency and competence. The business world is dynamic and is characterized by a number of organizational changes, which calls for managers to be conversant in their work to maintain focus through embracing new approaches regarding planning, organizing, leading, and controlling.Advertising We will write a custom essay sample on Functions of Management Paper specifically for you for only $16.05 $11/page Learn More Planning is identifying the goals to be accomplished while taking prior evaluation of the crucial steps that requires to be handled to accomplish these goals. They entail examining current circumstances, foreseeing the future, shaping objectives, deciding on corporate policies, shaping the resources required to surface the company’s goals, and making the right decisions in what actions the firm needs to undertake. Planning awards strategic value which is described as the financial status attributed to the nature of the workforce in accomplishing the user’s desires. The value becomes strategic when geared at achieving the set goals in an organization (Walker et al, 2009). My organization requires that evaluations be made on the ways of adding value, which not only develops personal potential but also augments performance, hence supplementing career skills. For that reason, planning is required by chief executives to create and implement business policies. It is a continuous process where intelligence is employed through including all stakeholders’ views in cultivating and retaining competitive advantage in the dynamic business world as influenced by politics, globalization, and technological advancements. Organizing is bringing together and coordinating the resources required accomplishing organization goals. This involves ways of drawing stakeholders in the organization, stating job a ccountability and categorizing it into work units, shepherding and allotting resources and creating a favorable environment for the workforce to attain maximum productivity. Organizing is applied in my organization and aims at attaining a dynamic organization through recognition of business functions, initiating report dealings and forming a personnel department meant to handle the strategies, programs and other formalities. Organizing leads to flexibility and adaptability in the competitive business world through evolving human resource performance.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Leading is motivating individuals to become elevated performers through proper communications though personal interactions or as a group. It entails close interactions and teamwork while steering and stimulating people to attain organization goals. Teamwork is a vital component of lead ership, which managers cultivate to attain management skills in mobilizing individuals who reinforce their concepts and innovations (Walker et al, 2009). In my organization, motivation is vital in leadership to enhance the workforce productivity by encouraging teamwork and working on interpersonal interactions Controlling is defined as being knowledgeable in monitoring and shifting performance in an organization. It coexists with planning, organizing and leading to accomplish the organization’s success. Other than ensuring proper use of resources, controlling also ensures that the firm is attaining safety and quality mission. Through monitoring and using technological innovations, safety measures are maintained to ensure that the clients and workforce are safe. In my organization, it is essential to measure the standards of goods and services that customers consume to make sure they are free of any toxic contaminant through working in a clean certified environment. Safety m easures not only relieve the company of unnecessary litigation procedures but also help retain the company’s public image and reputation (Mathis Jackson, 2008). Controlling ensures that company’s goals are attained as planned and helps make the needed alterations for business success. Conclusion It is clear that managers today are faced with the task of ensuring they are updated with various dynamic occurrences in the global market so as to maintain a competitive advantage. Using the four concepts in management helps to increase efficiency and mobilize talents for future undertakings. Sufficient interest and resources should be devoted on the four concepts to realize paramount managerial skills without neglecting any of them.Advertising We will write a custom essay sample on Functions of Management Paper specifically for you for only $16.05 $11/page Learn More References Mathis, R. L. Jackson, J. J. (2008). Human resource management. Boulev ard Mason: Thomson Cengage Learning. Walker, J. R., Miller, J. E. McBee, L. J. (2009). Supervision in the Hospitality Industry: Leading Human Resources (8th ed.). New York: McGraw-Hill.

Ethical Hacking Final Challenges Research Paper

Ethical Hacking Final Challenges - Research Paper Example Therefore one of the vulnerabilities of MD5 is its possibility of resulting into collision attacks. The algorithm also gives room for any attacker to generate a collision. The practical abilities of such attacks results into the impersonation of the trusted roots CA by the attackers. The MD5 trustworthiness is reduced the moment an attacker posses the ability to construct forged data in various forms with the ability of causing software using MD5 (Simpson, 2010-03-17). All these underlying vulnerabilities are caused by a cryptographic primitive making the specific exploitation scenarios vary largely depending on the form of data that is prone to attack and the validation of the software. Microsoft has though tried to issue specific patch for flame which does not though eliminate completely the vulnerabilities caused by MD5 hence they recommend that – every CA that still makes use of MD5 should stop with immediate effect and to migrate to better hash functions. Those with certi ficates signed by MD5 should see on how to replace them immediately. The CA should therefore ensure that sensible cryptographic measures are used depending on the tasks they want performed in their respective organizations (Simpson, 2006). Challenge 2 MEMO TO: Bob Kaikea FROM: Network security Team DATE: 20th February 2013 SUBJECT: Port numbers and services that run on most networks A port number in computer networking is mostly the part of the addressing information that is employed in knowing who the senders and receivers and senders of messages within a network as used with TCP/IP connections (Simpson, 2010-03-17). The port numbers allow for the sharing of information by different applications on the same computer to share resources and they work like telephone extensions. The well known ports are an example of Port 80 that which explains to us what a port really is describing it as a virtual data used by software components to interact. Another is the DHCP which is the Dynamic H ost Configuration protocol. The DHCP server listens on this port and allocates your link the properties it has requested, e.g. IP address, network mask, default gateway and DNS server. Both ports 20 and 21 are known as random ports. While 21 is known as the TCP and is well designed for FTP control, the port 20 is the active FTP type and is designed for the actual transfer of data. Ports 23, 25, 53 and 110 are ports outside the range and they would be used to transfer actual data without the specified range. 23 is the Telnet, 25 acts for the simple mail transfer, 53 is the domain name saver and 110 acts as the Post Office Protocol version 3 (Simpson, 2006). In analyzing the services currently running for the Alexander Rocco Corporation, the ports being used must be keenly looked at to enhance the recovery of the ways to be used to curb the vulnerabilities. Challenge 3 Ethics and morality most so in the computer environment more or less revolves around the same thing that is ethics be ing a moral philosophy where one makes a moral choice and sticks to it. In our case it refers to the moral guidelines that an individual sticks to when using computers and computers networks including the encryption algorithms. It is unethical and therefore against the law to do the following when it comes to computers and computer networks. An individual should not indulge into using office computers to do personal work, one should never read