Running Head: RESEARCH ON FINANNCE DEPARTMENT 1

Finance Department Research

Name:

Institution
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Finance Based Research

Finance department in any organization determines how well the firm achieves its goals.

Its activities vary from the basic bookkeeping to availing the necessary information to assist

managers to make strategic decisions concerning the organization. The choice of the finance-

based research s to determine how efficient and effective are the roles played by the department

to ensure that the firm delivers according to its objectives.

The expectations are to find out how well the fiancé department manages the cash flows

of an organization, making sure that the funds available are enough to meet the daily payments

by the firm. The research also seeks to understand the policies developed by the finance

department regarding to credit to the customers and the collection of debts from the firm’s

customers ensuring that the organization is paid on time, and calculating the daily cash

requirements by the company. Furthermore, in a situation where the regular funds are

insufficient, the finance department seeks to advise and source long-term or even short-term

financing. The research aims to find out how the finance department of the organization

concludes the kind of the funding to adopt.

Like any other department, diversity strategies help the organization in general to

strengthen the relationship between the community, employees, and the management. It as well

helps a firm enhance the services delivered by its staff, and the quality of programs. Diversifying

strategies among the finance department helps improve the performance and contributions of the

team in the progress of the company, for it to achieve its objectives. However, challenges are
Research on Finance Department 3

encountered while implementing a diversity plan in the finance department. The obstacles may

include;

Resistance from some of the employees is a typical scenario in any other department,

which consists of the finance department (Canas, & Sondak, 2013). Among the staff, a few

employees resist the diversity plan and the changes that it brings along, creating quite a difficult

situation for managers to try and implement the program. The negative impacts may have an

effect on the finance department whereby positive change is interfered with, hence decreasing

the performance of the department.

In the department, the staff is made up of people from different ethnicities, sexes, and

religion (Hudson, 2014). Addition to this is a wide range of communication styles which is a

primary obstacle in managing a diversity plan. This is because there is a misunderstanding when

people communicate differently, leading to reduced office relationships.

Lastly, a diversity plan must be well organized for it to be implemented. Communicating

a diversity plan that is not well-thought-out to the finance department is equal to not having the

diversity plan in place since very few or none will adhere to it.

In conclusion, the adoption of the research on the finance department helps analyze how

the firm is run as all the departments in an organization are closely related such that one unit

depends on another. Hence, understanding the finance department gives an insight on the other

departments.
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References

Canas, K., & Sondak, H. (2013). Opportunities and challenges of workplace diversity. Pearson

Higher Ed.

Hudson, S. W. (2014). Diversity in the workforce. Journal of Education and Human

Development, 3(4), 73-82.