Hershey, Pennsylvania
New York, New YorkBeijing, China
Corporate Financial Risk Case Study

Corporate Financial Risk Case Study

Leeshawn Buhr (Marymount University, USA)
Copyright: © 2023 |Pages: 7
DOI: 10.4018/979-8-3693-1630-6.ch014
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Abstract

This case study begins with a company purchase card audit that brought years of unethical purchasing practices to light. The author discusses how the purchases impacted organizational culture, leadership, and employee well-being. Risk management policies are examined to determine the best methods to reduce employee fallout impacting the organization. Change management, organizational culture, and leadership theories are analyzed to mitigate the negative impact unethical leadership has on the overall health of an organization.
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Literature Review

The Importance of Auditing

“Auditing that Matters: Case Studies (Marks, 2020)” provides several terms that help us gain a more thorough understanding of the auditing process. The purpose of this analysis is to explore auditing terms that correlate with risk management. Audits are broken down into sections such as financial, property, IT, etc., and the ratings for each section are combined to provide management and CEOs data showing their strengths, weaknesses, and where they rank against their competitors.

Changes are Necessary for Organizational Improvements

Throughout our studies of risk management policies and reduction, we have learned individual and organizational flexibility to change is necessary. Clarity is essential in every aspect of life; it is even more important when implementing organizational changes. The organization, employees, managers, and customers must understand what is expected from every entity to ensure the transition goes well (Bevan, 2015). When the purpose goes unidentified, stakeholders become dissatisfied and may negatively impact the change management process.

Risk Management Essentials

The textbook, “Enterprise Risk Management Straight to the Point (Decker & Galer, 2013)” provides several key risk management terms and concepts to guide individuals, management, and organizations. Ultimately, the purpose of effective risk management is to mitigate risks identified by organizations and security. Risk management also uses strategy to mitigate risks identified by the organization. Strategic tactics are utilized by managers and organizations to outline the steps that must be taken to achieve corporate goals and strategies (Decker & Galer, 2013).

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