Guillermo owns a furniture manufacturing company in Mexico that has been successful for him until recent times and he is looking in to ways in which he can increase his profits (Axia College, 2009). The company makes furniture in a small community, employing local citizens and ships the products all over the world (Axia College, 2009). One aspect that Guillermo must keep in mind is the affects of finance on the company and how to use financial information to his benefit. This paper will discuss Guillermo’s company and what financial aspect impacts his company.
Financial Ethics
Guillermo is in Mexico; affecting what Guillermo limits are and stay ethical in that country as he forges forward finding solutions for his company and keeping his personal rules of ethics as well. Keeping a strong standard of ethics in the company is crucial to the success of an organization (Emery, Finnerty, Stowe, 2007). Having dishonest employees or management will undercut the company’s profits and therefore, the future of the company. Guillermo must also have his own sense of ethics, as the company is located in a community where his business may have an affect.
World Financial Market
Guillermo has a responsibility to watch the furniture market worldwide as the furniture produced is shipped internationally. Watching the financial situation in the world, especially the specific markets that affect the furniture industry is important to determine what the demand for product is and what kind of product (Emery, Finnerty, Stowe, 2007). Another aspect of world finance to watch is the value of currency in different countries as well as the tariffs put onto import of goods. Each of these financial indicators is a tool that can be used by Guillermo in the running of his company to determine the best course of action to take.
What others are doing
An avenue that Guillermo may take in deciding the future of his company is to see what others in the...