Reference no: EM131670344

Assignment: Ethical and Legal Considerations

Describe the ethical and legal considerations of a professional strategic financial management function in an organization. What would you do if faced with a legal or ethical dilemma related to financial management in a health care organization? How might that legal or ethical dilemma impact strategic planning? Support your primary response with at least one scholarly source. Provide in-text citations and complete references for all sources used. Format your post according to APA style as outlined in the Ashford Writing Center. Respond to at least two of your classmates' posts.

Brandy Darden

Ethical and legal issues are going to be a major component of any job that we chose to do; or of any career that we decide to enter into. Ethical and legal issues are not items that we can simply chose to avoid, they will be apart of anything that we do in our career life. The financial strategic manager will need to understand the ethical and legal ways that are allowed and accepted to deal with the budget of the healthcare facility. Having the knowledge of what is accepted legally and morally will help guide the actions of the financial strategic manager. One might wonder how a person's ethical views will impact someone that is operating in a capacity of dealing with finances. Well it will have a huge impact because they are guided in their actions by the manner that they ethically see things. Legally they know what is accepted by the law; this will also impact their actions. The financial strategic manner is responsible for ensuring that the organization is operating ethically and legally in the community that it serves.

Falkenstrom, E., Ohlsson, J., & Hoglund, A. T. (2016). Developing ethical competence in healthcare management. Journal Of Workplace Learning, 28(1), 17. doi:10.1108/JWL-04-2015-0033.

Erika Pickwoad

There will always be legal and ethical issues within any organization you choose to work for or manage. It can be devastating news that your financial management as lied about the money or spend use of the company. It can be hurtful to the business because there is missing money and then you must pay your employees and purchase necessary supplies for the organization. Not only is it hurtful to you but to your employees as well because no you have to cut back hours and organization expenses in order to help your company to continue to run. "A moral person knows right from wrongand chooses right; an immoral person knows the difference too but chooses wrong, while an amoralperson either does not know the difference between right and wrong or does not care (Spath, P. L., & Abraham, S. C. 2013). Putting trust into someone that will have access to all financial issues regarding the organization can be nerve-racking because although at times they can be trust worthy other times they only seem to be that way and then they take advantage of their position because they get greedy. After such an incident can occur then the organization must start from the ground up once again to make up from what was lost or stolen.

Spath, P. L., & Abraham, S. C. (2013). Strategic management in healthcare organizations. Ashford University: San Diego, CA.