Guillermo’s Furniture - Finance Concepts
Guillermo Furniture is furniture-manufacturing company located in beautiful vacation spot Sonora, Mexico. Guillermo Navallez has made furniture for years near his Sonoran home. The area had a good supply of timber for the variety of tables and chairs produced by his company. Guillermo has enjoyed relatively inexpensive labor for a while. During 1990 new competitor from overseas entered the furniture market because of this Guillermo Furniture has faced immense business pressure. Also in the meantime recently opened largest retailers in nation’s headquarters have negatively influenced the Guillermo Furniture business. In order for to determine the efficient alternatives for the company to be successful, Guillermo must look at the financial records and determine some of the alternatives to make financially strong company and make successful furniture business. This paper will discuss the different financial aspects and how it affects the Guillermo’s business.
Cod of Ethics
Making right financial decision is one of the key factors for the success of the business and Guillermo’s employees and managers who make financial decisions for the company must make sure that their decision does not impact the business in negative way. The employees of the Guillermo’s company must implement and follow good ethical behavior to achieve success and reputation for being ethical and fair to the relying customers, employees and investors. Failure to comply with rules and regulation can result in substantial penalties. The financial consequences often go far beyond these penalties. Many individuals have lost their careers and businesses have gone bankrupt because of unethical behavior (Emery, Finnerty, Stowe, 2007, p.39). In the long run employee’s dishonesty will affect the company’s financial status and success of the company. Guillermo must emphasize his employees to adhere to the company’s code of ethics.