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Morgan's Transition Morgan Is Currently a Manager of a Small Financial Planning

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Morgan's Transition
Morgan is currently a manager of a small financial planning firm.He is seeking a new career with a large corporation in the banking industry.He recently applied for the financial manager opening at G & T Bank.He is concerned that the transition from his small firm to a large corporation will be difficult.To better prepare himself for this change, he has decided to enroll in a few business classes to strengthen his understanding of corporate finance.The business classes have proven to be a valuable tool for learning the critical skills needed to fully understand a financial plan, equity financing, and debt financing.Morgan now believes he has strengthened his competitive advantage in his quest for the job.
-Refer to Morgan's Transition.When Morgan has to counsel clients on short-term versus long-term financing needs, which of the following should he identify as a short-term financing need?

Identify the characteristics and enforceability of illusory promises in contracts.

Understand how past consideration impacts the enforceability of promises.

Evaluate the impact of specific phrases like "paid in full" on the settlement of debts under the UCC.

Understand the basic principles of organizational design and structure, including differentiation and integration.

Definitions:

Position Power

The authority or influence a person holds in an organization by virtue of the role or position they occupy, enabling them to exert control over others.

Task Structure

The extent to which job roles and tasks are clearly defined, organized, and known by employees within an organization.

Sensemaking

The process through which people give meaning to experience, often under conditions of uncertainty or ambiguity.

Visioning

The process of creating a detailed image or concept of a desirable future state that guides decision-making and strategic planning.