MANAGEMENT ISSUES

Storm Financial Limited Management Issues

Storm Financial Limited Management Issues



Introduction

Storm Financial Limited was a financial advice company, founded in Townsville, Queensland, Australia. The company was based by Emmanual Cassimatis and his wife Julie Cassimatis in 2004. It went into administration in January 2009 and was placed in liquidation on 26 March 2009. The collapse left an estimated 14000 investors opposite important losses. Though the organization contain a lot of management issues that are relating to assess potential areas of concern and prepare the organization to lead the issue development or to respond in a reactive manner to the issue that is led by others. The paper discuss the internal and external environmental issues, managerial ethics issues and corporate social responsibility issues (Bowie, 2005).

Discussion and Analysis

The Internal and External Environmental Issues

Storm Financial management issues is an internal process by which a firm attempts to assess potential and future threats from unfolding events, situations, and interactions that either arise from organizational actions and past history or are externally driven. Issues that arise externally can be a result of nongovernmental organizations' activities; from events outside the organization's control, as a result of legislation and regulation; and as a consequence of changing societal mores. Issues management is the long-range planning tool of the corporation (and its public affairs department) to assess potential areas of concern and prepare the organization to lead the issue development or to respond in a reactive manner to the issue that is led by others (Freeman, 2004).

The Storm Financial has defined an issue as any major environmental trend and possible events that might have a significant impact on the firm. There are other definitions that use “impact” as a way to define issues. But this is insufficient to define an issue in a manner that any organization can act on it. Others tie in the notion of impact with the timing of the issues (the comments in parentheses are examples of types of issues that could appear or have appeared in the quadrant). The argument is that issues with a high impact on the organization and with a high likelihood of actually occurring are dangerous and should be attended to with great care. Issues of medium impact and moderate likelihood should be monitored for developments, and issues of low impact and low likelihood, while not ignored, should be watched for future developments. This is the most simplistic view of issues but has appeal, as it is a visual way of capturing the complex interactions that occur. Issues are not simple—consider genetically modified organisms. What is the issue here? Is it a trade issue and as such should be resolved by the rules of international trade? Or is it a public health issue and therefore resolvable in regulatory and legislative hearings? Or is it an issue of prevention of starvation of large segments of society?

Management Issues are about identifying the issues of import to the organization and prioritizing them. Once the issues are prioritized, then policy development ...