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In this “Recommendation Report” I have chosen to recommend to HR allow employees to work from home if they want to, the IT department incorporates blockchain into their data management to make it more secure, and the Internal Auditing and Control department bring the ethical standards to a higher level. Each department should include implementation plans and pros and cons of the change. The conclusion should choose one change you recommend. Attached is a template, but instructions and the beginning of what I started are below. Recommendation Report For the Recommendation Project, you are a mid-level manager for a fictitious medium-sized company (approximately 200 employees) in a field of interest to you and/or within your major. Audience: The head of the strategic management team has asked you to prepare a report recommending changes for improvement. Purpose: To persuade using the analytical (indirect) structure. Prepare a short report in a memo format (see the Recommendation Report Template) addressed to the strategic management team of your company. Use tables, charts, or graphs to display information that is better represented visually (citing them in APA style). The report should be complete but concise—four to five pages of text, single-spaced, and at least six references additional to any you use from the list I provided. Based on your research and analysis, present one alternative for change per department, considering how the proposed change would affect the department and the company overall. In your analysis, consider matters such as ethics, cost, supply chain, communication, market reach, etc. Be sure to also weigh the pros and cons of each alternative. At the end of your report, recommend one change; include three reasons (positive outcomes) of implementing your recommendation. The report’s content (not including References) should be 4-5 single-spaced pages. References Keep in mind, this project is research-based and not opinion-based, yet I want you to be creative and independent in your search for areas of opportunity and change. Think like an intrapreneur (not a typo) striving for innovation and not like a student trying to earn a good grade! To demonstrate you are basing your arguments on credible evidence, include in-text (parenthetical) citations for information found in outside sources and attach an APA-formatted reference list to show what sources you used. References should be a good mix of academic and business sources. Go to FAU’s library to find relevant articles. Find at least six articles (you can certainly include more). Within the report, you will insert proper in-text (parenthetical) citations for facts, illustrations, or ideas taken from any of these sources. These in-text (parenthetical) citations will correspond to the APA-formatted reference list at the end of your report. The Report will demonstrate your ability to: 1. Conduct research to analyze relevant organizational structures and processes in support of your recommendation 2. Organize your thoughts in a logical and appropriate format 3. Convey clear ideas and provide the audience with ethical information on which to base a decision 4. Create a reference list of at least six sources, as well as the corresponding in-text citations, formatted according to the APA style manual. Not including in-text citations in your report OR a reference list will earn an automatic 50%. Not including both in-text citations in your report AND a reference list will earn an automatic 0%. RESEARCH — The following are sources I have already gathered, not all seem to be applicable as we were told to research before starting. Gallardo, J. E., Moore, C. M., & Scott, A. (2022). Changes in Financial Knowledge Post Peer Financial Counseling. Journal of Financial Service Professionals, 76(2), 65–74. https://web.p.ebscohost.com/ehost/detail/detail?vid=12&sid=856da54b-40e8-471b-a082-fff01336dcd3%40redis&bdata=JkF1dGhUeXBlPXNoaWImc2l0ZT1laG9zdC1saXZl#AN=155736352&db=buh This study is about how financial counseling helps clients learn. It shows a significant enhancement in knowledge at the two-month follow-up. Patterson, Z., & McEachern, M. G. (2018). Financial service providers: Does it matter if banks don’t behave ethically? International Journal of Consumer Studies, 42(5), 489–500. https://doi.org/10.1111/ijcs.12452 https://web.p.ebscohost.com/ehost/detail/detail?vid=21&sid=856da54b-40e8-471b-a082-fff01336dcd3%40redis&bdata=JkF1dGhUeXBlPXNoaWImc2l0ZT1laG9zdC1saXZl#AN=131821288&db=buh This article looks at ethics in the financial services industry. Overall, what makes a service ethical and how can awareness be heightened among professionals and consumers. Rajnak, V., & Puschmann, T. (2021). The impact of blockchain on business models in banking. Information Systems & E-Business Management, 19(3), 809–861. https://doi.org/10.1007/s10257-020-00468-2 https://web.p.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=24&sid=856da54b-40e8-471b-a082-fff01336dcd3%40redis This study looks at the effect blockchain will have on the financial services industry. Blockchain is the technology behind bitcoin and other cryptocurrencies and is expected to completely change business models. Lacity, & Van Hoek, R. (2021). What We’ve Learned So Far About Blockchain for Business. MIT Sloan Management Review, 62(3), 48–54. https://fau-flvc.primo.exlibrisgroup.com/discovery/fulldisplay?docid=cdi_proquest_journals_2502933036&context=PC&vid=01FALSC_FAU:FAU&lang=en&search_scope=MyInst_and_CI&adaptor=Primo%20Central&tab=Everything&query=any,contains,mary%20lacity&mode=Basic This source breaks down what the core of “crypto currency” is. Blockchain is broken down and explained so that it can be better discussed and understood. Carlin, Olafsson, A., & Pagel, M. (2019). Generational Differences in Managing Personal Finances. AEA Papers and Proceedings, 109, 54–59. https://doi.org/10.1257/pandp.20191011 https://fau-flvc.primo.exlibrisgroup.com/discovery/fulldisplay?docid=cdi_crossref_primary_10_1257_pandp_20191011&context=PC&vid=01FALSC_FAU:FAU&lang=en&search_scope=MyInst_and_CI&adaptor=Primo%20Central&tab=Everything&query=any,contains,finance%20generational&offset=0 This source goes over differences in generational finances. This study done in Iceland actually shows a negative effect on older generations because of their difficulty using technology and thus incurring more fines/fees. Malloch, & Mamorsky, J. D. (2013). The end of ethics and a way back?: how to fix a fundamentally broken global financial system. Wiley & Sons Singapore. https://fau-flvc.primo.exlibrisgroup.com/discovery/fulldisplay?docid=alma990319068950306568&context=L&vid=01FALSC_FAU:FAU&lang=en&search_scope=MyInst_and_CI&adaptor=Local%20Search%20Engine&tab=Everything&query=any,contains,financial%20industry%20ethics&offset=0 This book goes over the faults in our financial system and ways the author believes may fix them. From Ponzi schemes to the 2008 housing crisis each subject is looked at from a global economy perspective. Karolyi. (2016). The gravity of culture for finance. Journal of Corporate Finance (Amsterdam, Netherlands), 41, 610–625. https://doi.org/10.1016/j.jcorpfin.2016.07.003 This journal discusses cultural differences in finance. It will be helpful in my report to display biases in the financial industry. Graham. (2006). A review of taxes and corporate finance. Foundations and Trends in Finance, 1(7), 573–691. https://doi.org/10.1561/0500000010 This article delves into taxes and corporate finance. Explanations as to why some corporations do not pursue tax benefits could help with a suggestion for my recommendations. Trends in Finance and Accounting in 2022. (2022). Orange County Business Journal, 45(14), B40–B40. This article identifies multiple trends occurring in the financial world. The changes of work life after covid have prompted employees to expect more out of companies and there is higher turnover and requests for work from home. GaNun, J. (2022, June 28). Accounting giant ernst & young admits its employees cheated on ethics exams. NPR. Retrieved July 10, 2022, from https://www.npr.org/2022/06/28/1108044858/accounting-giant-ernst-young-admits-its-employees-cheated-on-ethics-exams This article discusses a recent event from an accounting firm cheating on its ethics tests. This could tie into my block chain innovation because if there were multiple blocks recording the data on the testing it would be harder to deliver fake test score. Ozili, P. K. (2021). DIGITAL FINANCE, GREEN FINANCE AND SOCIAL FINANCE: IS THERE A LINK? Financial Internet Quarterly, 17(1), 1+. https://link.gale.com/apps/doc/A669418072/ITBC?u=gale15691&sid=bookmark-ITBC&xid=ec38532b This article discusses digital and “green” finance and argues two points. One being that the government should intervene and force firms to follow green standards and another argues that investors will automatically choose the greener firms. Edwards, M. A. (2020). THE CONCEPT AND FEDERAL CRIME OF MORTGAGE FRAUD. American Criminal Law Review, 57(1), 57+. https://link.gale.com/apps/doc/A611498903/ITBC?u=gale15691&sid=bookmark-ITBC&xid=5bd211c7 This dives into the mortgage fraud crimes that occurred in 2007/2008 and led to the housing crash. This information from our past can help us better understand the importance of ethics today. Voytsekhivska, & Voytsekhivskyy, I. (2021). Successful Remote Work Arrangements for Finance Teams. The CPA Journal (1975), 91(4-5), 14–17. This article discusses remote work. Hybrid and remote work are a huge trend in lifestyle flexibility that are being requested by workers. TO: Strategic Management Team FROM: Tina Edwards DATE: July, 19th 2022 SUBJECT: Department Recommendations This report is a recommendation for positive change within our firm. The covid 19 pandemic changed our work life and has allowed employees the opportunity to experience working from home. The company-wide ethics should be at the highest of standards. Our data management and storage are only held internally and could be more reliable. The research was done over industry publications, articles, and management journals to obtain supporting data. In this report, I will be analyzing the possible changes for HR, Internal Audit & Compliance, and IT departments. I will display the ways in which we can implement the change along with their pros and cons. Lastly, I will wrap up and give my conclusions. HR Our employees should be given the option to work entirely remotely if they prefer it. After the covid 19 pandemic, many employees are comfortable working at home and enjoying a flexible work-life balance. Voytsekhivska states, “83% of employees are in favor of working remotely at least one day a week… and 74% of finance leaders expect to permanently shift at least 5% of employees to work remotely” (Voytsekhivska, 2021). Mcdonald discusses, “A recent survey by Robert Half of more than 1,000 U.S. professionals showed that half of respondents currently working from home said they would look for a new job that offers remote options if their company requires employees to return to the office full-time” (Mcdonald, 2022). To keep employee retention and employee satisfaction high the Here, you will give the alternative for change from department 1. Replace the section heading Department 1 with the actual department (e.g., Marketing, Client Services, or Product Development), and do not include subsection headings. Paragraphs should be no longer than 10 lines throughout your report. Use your sources to explain the alternative, how it would fit within the department and the company overall, and weigh the alternative’s pros and cons. Be sure you are using words that show optionality as opposed to certainty (e.g., “we could” vs. “we should/must,” “if we implement this alternative” vs. “when we implement this alternative,” etc.). Internal Audit & Compliance Our ethical standards should be held to higher standards than the rest of our IT Follow the directions from the Department 1 section for department 3. Conclusions & Recommendation Choose ONE to recommend ignoring other departments. This section should have three paragraphs. The first paragraph will be your conclusions. Sum up the research. What are some of the overarching themes/ideas you have drawn from the research?