List and Briefly Describe the Components of a Financial Planning

question 45

Essay

List and briefly describe the components of a financial planning model.

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Definitions:

Corrective Action

Steps taken to identify, eliminate, and prevent recurrence of undesirable performance or behavior in an organizational context.

Discipline

Action that develops self-control, efficiency, and orderly conduct; regulation, training, and enforcement. Discipline problems include permissiveness, rigidity, and inconsistency. Elements of effective discipline include defined roles and responsibilities, clear rules and guidelines, and methods for taking corrective action.

Importance of Ethics

The significance of moral principles in guiding behaviour and decision-making.

Leadership Success

The achievement of desired outcomes and objectives through effective leadership practices and the positive influence on followers.