An Action research on the effective and efficient management of foreign denominated funds

• Main Author: Sarmiento, Karen B.
• Format: text
• Language: English
• Published: Animo Repository 2016
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/5152
• Institution: De La Salle University

This action research pertains to how to effectively and efficiently manage the foreign denominated funds of the national government. Guided by its mission, Fund Management Division (FMD) must set plans and objectives appropriate to its treasury operations. However, with the young status of the division, standard performance measures and controls are yet to be established. With no measures and control, the achievement of the divisions objectives is uncertain. In order to address this, internally we set our operational objectives then engaged in pure, diagnostic and confrontive inquiries with relevant stakeholders or collaborators to establish standard performance measures and evaluate afterwards. I used the Control Process framework (Carpenter, Bauer, & Erdogan, 2010) to guide us in measuring our performance and ensuring that actions are taken if it deviates from standards or plans. In preparing the division to adapt to the new measures, I used Beckhards Process of Change framework to address a limited change programme applicable to FMD. This framework provides a clear step on how to get to the desired future state effective and efficient management of foreign denominated funds. The action research cycles validated the accuracy of the steps. Our interventions yielded to the creation of a number of relevant standard performance measures and a cash flow model with mark-to-market features. These interventions help FMD in their decision-making and in assessing their performance with the set objectives. Additionally, with the established standards and controls, better performance, commitment and accountability can be advocated and expected within FMD.