Drawing a Parallel between the Latin American Debt Crisis & the Management of the Accounts Receivable Department at the Amway Grand Plaza Hotel
Sloboda, Sheryl S.
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The Latin American debt crisis with the United States and the accounts receivable department at the Amway Grand Plaza Hotel did not really seem to have much in common at first. They both dealt with money that was owed to someone, but that was it. However, after researching and writing about both situations, I found a common thread. It is more on the personal side of accounting rather than the economic. However, both sides are so important to business dealings that a person can not talk about one without showing the effects of the other. The common thread I found was how narrow-sightedness on the part of management can lead to financial difficulties. Whether it be at a local business or on an international level, a successful financial arrangement depends upon not only the economics of the situation, but also upon the personal efficiency of the management. There may be a lot of numbers, graphs, and statistics involved, but there are also humans. Therefore, there is that human element there to affect the economic one, and vice versa. In one case, the employees of a department suffered. In the other case it was the people of a political region. In both instances, though, there was only a fine line between the economic impact on the persons and the personal impact on the economics of the situation. On the surface, this paper will deal with the historical and economic issues which caused a crisis situation between the United states and Latin America, and what should be done to relieve the crisis. Beneath the surface, however, this paper will deal with how management style financially affects a business, no matter how large or small.