FINANCIAL MANAGEMENT Assignments1-3 - Essay Example

Financial Management Assignment Identify and Discuss Three Examples of Sociological, Demographic, or Cultural Forces China is one of the few countries in the world that has rejected pluralism; leaders are not involved in any way in any company. The culture in China has undergone dramatic change with the rejection of capitalism during the Cultural Revolution and the adoption of communism (Mitter, 2011).According to a survey conducted on health care and healthcare policy, the absence of current financial interests and incentives of the heath care providers are affecting effective and integrated delivery model.

In other words, the delivery of services by the stakeholders and the providers is dependent upon the financial interests and incentives (faqs.org, 2011). The retirement benefit costs are set to increase in the state of Virginia. The pension plan in the state is underfunded and overburdened and the employee would have to pay for the pension benefits. Previously, the employees did not contribute to their pension scheme but now they will be forced to contribute towards the pension scheme. There will be no benefit for the taxpayer and savings are not expected from the shift in contribution back to the employee.

Some say the shift to the employee contribution and the mandatory 3 percent raise will put more burdens on the Virginia Retirement Scheme; the effect is set to be long-term (Robertson, 2011). Assignment 2. Identify and Discuss Two Examples of Technological ForcesPoor investment in technology is one of the issues that many financial services companies face. The progress is little for these organizations in terms of service provision effectiveness and increased efficiency. The scenario has been creating an industry that is poorly automated or highly manual and use of processes that are time consuming; the processes are demeaning and insufficient to the skilled finance professionals (Worth, 2011).

The cloud based systems are growing rapidly and the Intuitive technology wants to offer the clients and prospective clients with complete accounting system and cloud financial management. The company, Intuitive Technologies has noted the demand for cloud computing in the market and the need to replace the old on-premises financial management systems of Intacct with the modernized cloud based financial management application (PR-USA.NET, 2011). Assignment 3. Identify and Discuss Two Examples of Political/Legal ForcesThe political reforms in China have had an effect on the growth of China.

The political system in China though unfavorable, it has created an economic growth spurt in the country. The political reforms aim at tackling the country’s social problems. The problems include the huge income inequality and the absence of a national pension scheme (Mitter, 2011). Financial management issues in Chillicothe are due to the inefficient and inadequate management control in the city’s department. Job descriptions and basic procedures are not effective and objectivity lacks in the city management.

The city is unresponsive to business and they do not attract private investment, the tax is too high, and lack of cooperation between the private and public sector (Everson, 2011).ReferencesEverson, J. (2011, February 6). Three areas we could improve upon are financial, management and morale. Retrieved from http://www.chillicothegazette.com/article/20110206/OPINION02/102060307/0/NEWS01/Three-areas-we-could-improve-upon-financial-management-morale?odyssey=nav|head faqs.org. (2011, January 8).

Publication: Healthcare financial management. Retrieved from http://www.faqs.org/periodicals/201009/2206670421.html Mitter, R. (2011, January 18). Staying power – The Communist Party of China will do anything to survive. Retrieved from http://www.telegraphindia.com/1110118/jsp/opinion/story_13456347.jspPR-USA.NET. (2011, February 6). Intuitive Technologies joins Intacct business partner program. Retrieved from http://pr-usa.net/index.php?option=com_content&task=view&id=613546&Itemid=33 Robertson, S.

(2011, February 5). Retirement costs are under scrutiny. Retrieved from http://www.vagazette.com/articles/2011/02/05/news/doc4d4c76c46ced4754155730.txt Worth, A. (2011, February 4). Finance solutions consultants. Retrieved from http://www.24dash.com/jobs/view/10335