INTRODUCTION
Social and ethical issues are required to be taken in consideration that will help the firm to carry out the business operations and well-being in an effective way (Kallestrup, Lando and Murgoci, 2016). This reflective journal will analyse the two issues faced by me in finance industry. Also, the aspects that strengthen the assumption, beliefs and expectations of me as a finance student are been evaluated
TASK 1
Description (What?):
A significant framework or measures is required to be taken in consideration by me as a scholar of finance sector to identify and analyse the ethical and social issues. With tha passage of time, various issues are been evaluated and has emerged that has affected the overall operational capability of a firm as well as the knowledge of an individual. The two crucial ethical and social issues related to finance sector are as follows:
- Self-interest morphing to greed: I, as a finance sector student, strongly feel that the self-interest of an individual person or a team as a whole in finance sector slowly and gradually transforms to the personal greed and selfishness. The firm or an individual is required to see thorough the proper management of operations and finance activities that they follows within the organisation.
- Not following the legal considerations: Many time, an individual don’t follow the legal considerations or code of conduct that is been set within the finance sector. This leads to the failing of moral behaviour of an individual and thus, leads to illegitimate issues that are been followed within the organisation.
Interpretation (So what?):
I personally relate to this issues as I have faced them personally. The accumulation of self-profits that will help the firm to carry out the operations and carrying out the business operations and actions that are been carried out in the organisation may lead to decrease in wellness of an individual and influence the performance of a firm (Cecchetti and Kharroubi, 2015). I personally feel that the occurrence of these issues in the finance sector will impacts the operations and activities to a greater extent. The thought that strikes to my mind when I think about it is to find the suitable and effective solution to them so that anyone else don’t face them. This two views and ideas are quite important as it will help me and others to find out the other issues and their effective solutions.
Outcome (Now what?)
The understanding gained by me regarding this issues have helped me to take the effective measures in my professional practices. It has helped me to develop a good behaviour and will help me to have an extended outlook towards this issues, which will help me to have a better growth and developments of an attitude to solve this problems or issues in much effective way. Besides this, it will help me to have a good knowledge about the measures to be taken in order to mitigate this issues. Other than this, proper measures are required to be taken in order to meet the business operations and effectiveness of my professional practices in finance sector.
TASK 2
Description (What?):
This part will cover the measures and the activities that has helped me to take proper measures and develop a good understanding about the various issues that are been faced within the finance sector. As a student of finance sector, I always assumed or expected to get the best of the finance sector (De Bruin, 2015). It helped me to look after the practical implications of my studies and get the good out of all the measures that are ben undertaken by me. The study of this unit helped me to strengthen my assumption and belief about the occurrence of various issues that occurs in a finance sector. The development of a suitable and supportive mind set for handling the issues related to the finance sector.
Interpretation (So what?):
On the basis of this research, I can say that the proper management of various issues and actions plans that are followed to identify the issues that can affect the finance sector. It helped me to gain an effective and suitable insight that helped me to gain a good control over the operations and action plans which are been adopted to have a proper management of issues that are been discussed above (Henderson and et.al., 2015). It helped me to gain a new and revised understanding about the reasons of occurrence of these issues, their implication or consequences and effective or suitable measures that are been undertaken for their rectification. This helped me to adopt suitable measures that will help me to gain a suitable growth in their finance sector. It was important for me to have a good study about the measures that help in setting up of a strategic plan to meet the requirements of the study in finance sector. It helped me to prepare my assessment to identify the adverse impact of this issues and find out suitable measures to mitigate them in an effective and significant manner.
Outcome (Now what?)
The knowledge gained is of great help to me. It helped me to not only find the practical implications of the measures that are been taken in consideration in the financial sector. This helped me to carry out my study based on the knowledge gained and identify suitable measures to meet the issues and action plan that is been taken in consideration by the firm. On the basis of the knowledge that I have gained, I will now look at this issues in a different way (Lindley and McIntosh, 2017). I will see through the proper implementation of preventive steps for the factors discussed above that will help me in their effective resolution. It will also help me to have a behavioural change in myself that will help me to prevent the occurrence of hindering factors in financial sector.
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CONCLUSION
This can be concluded on the basis of the research performed that the proper management of the issues related to financial sector are required to be met in an effective and significant manner. The development of a proper behaviour to carry out the operations and having an in depth study of this issues will impact the business operations of the firm to a greater extent.
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REFERENCES
- Cecchetti, S.G. and Kharroubi, E., 2015. Why does financial sector growth crowd out real economic growth?
- De Bruin, B., 2015.Ethics and the global financial crisis. Cambridge University Press.
- Henderson, S. and et.al., 2015.Issues in financial accounting. Pearson Higher Education AU.
- Kallestrup, R., Lando, D. and Murgoci, A., 2016. Financial sector linkages and the dynamics of bank and sovereign credit spreads.Journal of Empirical Finance.38. pp.374-393.
- Lindley, J. and McIntosh, S., 2017. Finance sector wage growth and the role of human capital.Oxford Bulletin of Economics and Statistics.79(4). pp.570-591.
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