Which will come first: Ethics Management / Treasury Management?
Treasury Management is a process of handling external and internal funds in the organization for the optimum utilization of resource. Finance is the backbone for any organization.
Ethics management is the process of managing the values and morals in the organization for the smooth working.
No doubt in recent era treasury management process is highly important in the organization. But at the same time ethics is the key point of any management process to see long run benefits.
Ethics management takes time and money and give result in long run, it bridges the foundation of the organization. For the strong foundation ethics management is essential. Business Ethics shows the philosophy of the organization, its aim, objectives, its mission and vision in the right direction.
Whereas Treasury Management is financial management of the organization. There is no moral or value in it, it only includes gathering, investing and financials for operation.
The life span of the organization – introduction, growth, maturity and decline, but now days this span is very short. Companies are not living there proper life cycle due to missing of Ethics Management.
Companies are towards the treasury handling and other management process because to earn the profit not wealth. Wealth can be created by handling Ethics in the organization.
There is a big difference between in short run and long run; this concept should be learned by the organizations. Otherwise the time is coming where the originations will going to face huge losses.
Ethics Management should be a practice in the origination separate department should be reserved for the concern. It will enhance long run wealth, motivation, peace, harmony etc.
Treasury Management is the backbone for the organization for sure, but this pillar is standing on the base which is called Ethics Management.
And as we know the foundation or base for any purpose should be so strong to handle all the problems, situations etc.