How General Electric’s problem can be addressed in various ways?

1. Describe in some detail the actions that would address or correct the situation.

General Electric’s problem can be addressed in various ways. One solution includes better financial management, where better planning should be done before any finances are allocated to any given field. This can be possible through having trusted finance officers and accountants who can handle this field in the best way possible to ensure that the company has the least liabilities and that profits gained are not mishandled inappropriately. The acquired profitability should cater to the company’s sustainability and growth in the coming years. The company’s decision to present inaccurate financial reports is a failure that needs to be addressed. The presented report could be an overestimation, or an under-estimation of the company’s amounts spent or required. However, presenting wrong figures makes the company remain comfortable, not knowing about the exact figures that the company operates with. They thus become unable to identify any problems that come in and need to be addressed before they get out of hand. Since there seems to be a problem with the accounting department, proper record-keeping methods that can be traced should be established to account for every dollar used.

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