Two of the biggest challenges that financial managers face todayare controlling spending and improving profitability, and self-moraleand motivations. Although, healthcare has been a huge challengeand is being nationally debated about on a daily basis, (Forexample, Hobby Lobby), controlling spending and improvingprofitability, and self-morale and motivations takes preference, (inmy opinion), because they will always take precedence overhealthcare. Self-morale and motivations which refers to theaccountability or financial integrity is now being referred to as the
“crisis”.
(Ethical Conduct, Frederick Militello and Michael Schwalberg).
As a result from lack of confidence in integrity-based financialleadership
, “two ideal portraits of ethical behavior emerged: the“Ethical Intelligent Financial Executive” (EIEF) and the “EthicallyIntelligent Financial Organization” (EIFO).”
(Ethical Conduct, Frederick Militello and Michael Schwalberg).
Being aware that financial integrityembodies all activities that support the complete and accuratemaintenance of financial records at a company in which these records act as a fair representation of a company’s financial position to all stakeholders, the EIFE and the EIFO, has foundit imperative to implement ethical dilemmas training to ensure that one’s own integrity holds accountability for their actions.
By implementing these situations, the financial executives becomesaware of the multiple pressures that may potentially impinge (have an affect or negative impact) on one’s integrity.
(Ethical Conduct, Frederick Militello and Michael Schwalberg).
Being that ethical dilemmasare ubiquitous (present, or found everywhere) it is imperative to continuously train and test one’s integrity especially, in business-like situations, such as financial decision – making. These situationsthat the training provide illustrate the challenges that financialmanagement face while seeking to grow and maintain long-termgrowth against competitive markets.

“The challenges become acute when management seek to do their business ethically knowing they may lose business to others, who in the company’s view are prepared to cut corners or behaveunethically.” (Journal of Financial Regulation and Compliance 13.3 (Aug.2005): 254-259).
Some people find it difficult to do businessethically under these circumstances, in fear of not being able togrow with the competitive markets. Management then, becomefearful of losing revenue, and potential contracts, due to the knowledge that competitive companies are “doing whatever it takes” to gain contracts or business from other entities or markets. Thiscreates a great pressure on ethical conduct and integrity.Other situations that can lead to financial integrity misconduct is a person blackmailing a person to “cook the books” (influencing financial records), paying bribes, providing inaccurate information ontime sheets, or providing misleading information to the financialdepartment.
(Business Ethics Alliance, Ryan M. Cole MBA 776).
Havingthe knowledge of these dilemmas, it is important to have financialintegrity.First, it is a legal requirement. Second, ethical and legal financialbehaviors are critical to the success of a business. Thirdly,problems can lead to personal and/or corporate legal liabilities.Forth, employees, shareholders, and stakeholders, must be able totrust the company. Finally, it is imperative to have financialintegrity to ensure that activities are not involved in moneylaundering, financing criminals, terrorist, exploiting others for gain, orevading taxes.
(Business Ethics Alliance, Ryan M. Cole MBA 776).
As Benjamin Franklin once said “ glass, china, and reputations are easily cracked and never well mended.” Consequences of not following the integrity or ethical values of a company has beenbroadcasted globally, such as the Sarbanes-Oxley Act. There isconstant proof of the continuous challenges for management to maintain a company’s reputation. A company must maintain a good reputation to establish a good customer relationship, and to raise finances to continue operations. “
To build a strong reputation acompany needs to engender trust in its products and services, for quality, price and reliability.”
(Journal of Financial Regulation andCompliance 13.3 (Aug. 2005): 254-259).
Building a strong reputation and producing quality products and services, is management’s agenda to overcome these challenges of integrity and ethical dilemmas.Other challenges that a financial manager may face concerninggovernment interventions would be to correct for market failure, to achieve a more equitable distribution of income and wealth, andto improve the performance of the economy.
(Government Interventions in the Market Geoff Riley).
Keep in mind, that most markets, (if not all), have “barriers of entry.” Some barriers are set high in order for companies to discourage new companiesfrom entering into the market, (according to a previous economiccourse.) With these barriers, companies can unite and create set aprice that will be equal to competitors which eliminate newcompanies from charging a higher price and being profitable.In a free market system, government views the markets that arebest suited to allocating scarce resources and allow the marketforces of the supply and demand to set prices. Governmentinterventions is to protect property rights uphold the rule of law,and maintain the value of the currency.
(Government Interventions in the Market Geoff Riley).
Although, competitive markets usuallydemonstrate improvements in allocating, productive and dynamicefficiency, there are times when they fail and governmentintervention becomes a necessity for economic purposes, consumerprotection, and the protection of employees, shareholders, andstakeholders. Companies thrive on reputation which external usersuse when making investment decisions.Therefore, corporate image will ultimately rely on communicationsthat are within the firm as well as externally. Company brandfamiliarity also play a role when consumers and government makedecisions regarding using a company. Government intervention can