Financial Planning In All Aspects Of Life

Financial planning in all aspects of life

Introduction

This essay originates in part to the unfortunate requirement of regularization of qualification specifically of the financial planning matter, it should not be taken into account only as a simple requirement, but it is sought to try to implement the important ideas of financial planning and leave a base solid to help in my future as a professional.

The inspiration to carry out this essay is directly to words and ideas embodied in clas the different student communities, the business, and both local and international professionals.

But, in a very special way, it is elaborated and addressed at the same time to my career classmates, with whom I have spent important moments of my student life, to invite them to continue strengthening ethical values, so, it is necessary not only Include, but to take into account the theoretical aspects of financial planning and its definitions, proposing very clear and specific examples of both financial planning in everyday life as well as in the personal, student, work and professional aspect.

Developing

Personally, I consider essentially important ethical principles and their relationship with the performance of financial tasks in companies, specifically in industrial engineering, it can be considered as a part that begins the planning of a project or a company, this could give an example of your concept of work as well as the efficiency and veracity of your financial processes.

It is important to analyze and understand the different financial terms and definitions, which in general, we see every day as in news, social networks, in our work centers and in the industrial one in general.

I think it must be taken, at this point and given the competences, a management of financial ideas at an executive level. In the financial aspects of companies, things change rapid and engineers and companies that do not respond to these changes can be discarded and out of professional competence.

In order for engineers and companies to continue obtaining good results in their financial environments such variants must be adapted to them and at the same time adapt their purpose, based on their best ethical principles and values, since of these and mainly it will depend on them that the success.

All companies should use financial planning to make a good path on which they will have to cement, develop and follow, to achieve planned objectives, you can also use an external professional service. When a decision is to be made on which efficiency will depend, these are some of the best ways used to adapt to the different financial means in which they can be found.

Those who do not have a financial plan and do not seriously consider where to obtain the necessary economic resources and do not know how to give adequate use to financial models and analysis to be able to give security to their decisions and options, would have little chance of success, and few possibilities to remain in the current economic environment.

Taking into account these complicated financial aspects, you can find the case in which financial institutions, are more rigorous when granting some credit, those parties that invest in a project, the shareholders, and even the owners of goods are very demanding and They will want to know the situations of profitability of their investments and contributions, so uncertainty will be larger, and which will have to advance a job of preparing, preparing and documenting solid financial plans.

In my view, I believe that in financial planning the objectives that are achieved must be established, after reviewing the company and its interaction in the financial environment, the means to achieve the objectives, to the objectives, can be improved, These media could be called strategies and tactics as the case may be.

The professional in charge of elaborating and continuing these, must contribute in the exercise of his profession values ​​and codes of conduct that contribute with a better coexistence in the company, for this it must be based on principles such as freedom of thought, responsibility, being fair , honest, truthful and supportive, among others.

I understand that today, between the tasks of a financial director or an administrator, you can find financial resources planning, for the different time horizons that can be estimated, from the short to the long term, to be able to develop this Activity would need to have the elements and those that facilitate the task of daily financial management; Among them, the knowledge and good management of the Treasury, a good result of the good management of circulating assets, which are, the money that the administrator of a company or business has more or less available to be able to use it at any time, The details of the different tax payments, the processing of financial data and accounting, just to mention some. This professional must know how to locate or in a certain cycle Cash surpluses, and for this he will rely on the establishment of financial policies, which facilitate and better agree to make decisions when they delegate them to their activities to their colleagues.

In my seeing colleagues in this case, they must have a professional development without affecting their classmates or guild, their growth in the closest workplace must be seen as respectful as possible. I think that I should exchange experiences between colleagues to enrich knowledge with the contributions of teamwork and thus facilitate the solution of problems that could be presented among the financial areas of organizations and institutions that are linked to our society.

Being solidarity among colleagues is very important since many professional experiences are shared and the unity of a guild is promoted.

In addition to the legal duty that it has or had, and that in advance it is indicated in the work contracts of each company where it will work; It must be important to emphasize that the financial director has the commitment, to act according to the values ​​and codes of conduct mentioned above, in the practice of their professional practice inside and outside their work. This should be respectful of his co -workers, and in all the activities he does in his work. This should seek to contribute to something that is fundamental at the executive level, such as maintain.

I think that with this he would be offering confidence towards the educational institution of which he was a graduate and would give prestige to his educational training, he will project a competitive and trustworthy reality; And as a consequence it will be attractive to take into account the graduates of these educational institutions and organizations with which they work, because they will see in them, the guarantee of being able to have high -level professionals, to give the answers to productive needs and services that will demand their organizations.

We live and we are in a time of very important changes such as the advances of international shops, the globalization of markets and competencies between countries and companies of different nations, are of the multiple factors that increase the problems.

About the subject and as a very clear example of the importance of financial planning I gave myself the task of investigating the history of Mexican Aviation, Mexican Aviation began its operations in the twenties. The classic history of companies that live for many years, and that through these are generated many efforts that at the same time translate into many victories and also many failures that are the result of the good or bad decisions of their managers. During the period from 1957 to 1966 he found himself in a financial crisis that almost leaves him on the verge of disappearance. At the end of the Mexican Aviation 1966, it seemed not to find the solution to its problems, it had to declare bankruptcy dodo to the bad financial management. However, Mexican could be maintained "in the air" for four more decades. After 1966 the government gave "oxygen" to that airline, according to a long history of government rescues. Mexican crises in recent years were more complicated than all the previous ones. According to data published by the company in 2010, Mexican’s debt amounted to $ 18,000 million pesos and the assets counted were only $ 9,000 million, it can be understood that its accounting capital was negative and the creditors were financed the amount of the assets In addition to the losses incurred in its entire operation. Since August 2010 the company stopped flying and interrupted its operations. Mexican had almost ninety years of experience in the field of aviation and an enviable prestige. It was truly unfortunate to lose a company with great meaning for the aerospace and tourist activity of Mexico only for a bad financial planning ”.

conclusion

As a consequence of the above in this essay, I conclude to reflect on the importance of administrators or financial managers being persons who can assume financial commitments with an attitude and ethical behavior.

I can argue that an ethical financial and organizational culture must be encouraged, so that it, has a great influence and a healthy environment is breathed in all the financial activities of the companies.

Finally I can add an celebrated fresh that I found about this topic: “It takes 20 years to build a reputation and 5 minutes to ruin it. If you thought about that, you would do things differently ”Winston Churchill in advance thank you very much for your attention.