conduct interview with different managers from different organization(profit and non profit )organization.
i need scenario type interview question related to the topic explained briefly in the attached file. i need related questions that will help me gather supported information for my research
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Decision making is one of our daily practices. It is a major mark of executives. The separation of management and decision making is incredible. In order to decide on best results and options, management will go through a process starting from collection different information and end up with informed decisions. Many managers are non-financial managers but they have to make decisions in their organization. Many of them will not admit their unfamiliarity with financial information and will make uninformed decisions that might affect negatively on the performance of their organizations. (Brigham & Ehrhardt, 2013)
Both big and small organizations operate within the set financial provisions. Financial managers are then tasked to disclose their financial statement for investors to evaluate the performance of the organization. Previous financial reports play a key role in facilitating financial decisions within an organization. Financial reports are necessary in providing reference and answers to current financial questions thus making it easier for the reader to understand and focus on the relevant information. Furthermore, financial report is critical in communicating the financial commitment and the performance of an organization by showing corresponding figures.
This study is therefore significant in a number of ways. First, there exist several factors that are considered in making financial decision in any organization. However, this study is significant in coming up with empirical evidence of the main factors that inform financial managers in making certain decisions within profit and non-profit organizations in Dubai. Finally, this study is important in making academic contribution especially in the field of financial management with specific reference to decision making in the financial sector.
The purpose of this study is to analyze the concept of decision making and the significance of decision making in Dubai organizations based on the financial reports and data presented in financial statements and records. The use of information in the managerial decision making is basically under research. The study is focused on providing the use of financial information through conducting interviews with different managers business organizations in Dubai.
Aims and Objectives:
The aim of this study is to investigate the usefulness of financial information manager’s use in making decisions within organizations in Dubai. Specific objective includes determining the role of financial reports in making decisions.
The study seeks to investigate the financial information manager’s rely on while making decisions in Dubai organizations (profit and non-profit organizations). The year of study will be previous financial years ranging from 2012-2013 and 2013-2014. These periods of study is significant in assessing how decisions changed drastically and determine the factors that influenced the specific decisions.
This project is important in understanding the financial information and how they influence decision making process in any organization. The organizations in Dubai will ultimately benefit from this study by directly relating how certain financial information used influenced specific decisions which will make them increase the financial knowledge of their non-financial managers. Managers will be well informed on the information that ties specific outcomes thus enabling one’s ability to predict outcomes.
Performance in work environment and Business venture:
This project is vital in exposing me to the real life situation especially within financial management. Just like any other business, I cannot evade from gathering applicable skills in financial information that will enlighten me on how to come up with the right decisions.
This project will also provide a hint on how economic crisis, policies, and financial information interrelate and influence each other in coming up with a decision. This research project is also a good chance to apply and practice what I have studied during MBA courses and also the background I have in accounting.
According to Draft, for managerial decision making, there exist at least two methodologies including one is financial data present in statements. (Daft, 2006). Additionally (Jackson, Ikeora Emeka, et al, 2010) characterizes “financial statements” as authentic data about the financial asset and commitments of a business.
According to Gibson, financial information has least perspective but different role in decision making process of managers. The comprehensive financial statements and records help in making successful decision as per the availability of information in various forms of financial statements provide accurate and comprehensive explanations. (Gibson, B, 1992)
Financial decision making is also characterized as logical on the grounds that the greater part of the data we see and utilize consistently reflects ideas utilized as a part of these financial statements. (Chewning & Harrell, 1990) Further scholars considers financial statements, reflecting to internal managers and external stake holders as a clear view of financial position of the firm and business profitability. (Anderson, Mansi & Reeb, 2004)
Financial information helps managers in making a better and clear decision. (Drury, 2011) Financial statements provide a valuable summary of firm’s position and overall credibility over the past period. (Brigham & Daves, 2012) The authors explore whether concerned with firm’s stock price movements, as measuring value of firm, is related with information limited in apparent excellence measures. Conveying information to market, managers require the financial information. (Aaker & Jacobson, 1994)
Investors make decision for future funding based on financial information; therefore require greater knowledge of financial statements. (Capon, Fitzsimons & Prince, 1996) According to (Riffin & Ahmad, 2012) the investor prefers to make decision based on their knowledge of financial information. They assume that superior and accurate choices are made on the basis of the knowledge and information they have.
Research methodology includes the data collection, analysis and interpretation. It includes following components:
The research design includes the interpretation of interviews conducted with managers from different organizations in Dubai.
The research includes qualitative and quantitative data as secondary and primary sources. It also includes the interpretation and suggestions based on basic research question.
The targeted population is the managers of Dubai’s organizations. They include men and women of age above 25 and below 55.
The size of sample will be between 10 to 15 managers based on interview designed to identify the financial information used for decision making process.
The data is collected from the managers of non-profit and profit organization in Dubai based on sample size and technique. The interview was designed to collect the answers.
Here wanted the scenario interview questions related to given information(above)
Aaker & Jacobson. (1994). The financial information content of perceived quality. Journal of marketing research, 191-201.
Anderson, Mansi & Reeb. (2004). Board characteristics, accounting report integrity, and the cost of debt. Journal of accounting and economics, 37(3), 315-342.
Brigham & Daves. (2012). Intermediate financial management. Cengage Learning.
Brigham & Ehrhardt. (2013). Financial management: theory & practice. Cengage Learning.
Capon, Fitzsimons & Prince. (1996). An individual level analysis of the mutual fund investment decision. Journal of financial services research, 10(1), 59-82.
Chewning & Harrell. (1990). The effect of information load on decision makers’ cue utilization levels and decision quality in a financial distress decision task. Accounting, Organizations and Society, 15(6), 527-542.
Daft, R. (2006). Organization theory and design. Cengage learning.
Drury, C. (2011). Cost and management accounting. Cengage Learning.
Gibson, B. (1992). Financial information for decision making: An alternative small firm perspective. The Journal of Entrepreneurial Finance, 1(3), 221-232.
Jackson, Ikeora Emeka, et al. (2010). Certified National Accountant Volume 18 Number 2 April-June, 2010.
Riffin & Ahmad. (2012, May). A conceptual paper on factors affecting investment decision of Malaysian investor. In. Innovation Management and Technology Research (ICIMTR), 2012 International Conference on (pp. 450-453), IEEE.
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