“The Relationship of Financial management practices and financial management challenges: the case of Franciscan Missionaries of Mary congregation”
Introduction and conceptual framework
Add relevant literature on financial management practices, specifically on religious congregations.
Research gap should be made clear, with emphasis on why Franciscan Missionaries of Mary financial management practices and challenges ought to be studied. Note relevant literature, both international and local, that covers the financial management practices that are prevailing in religious congregations. This will help establish the clarity in the choice of FMM as the research domain.
Enhance literature review to focus on internal control practices and fundraising practices.
Incorporation of dates and documentary evidences of Franciscan Missionaries of Mary congregation’s history that will be relevant to give clarity in its significance as the case for this current study. The history should not only be a narrative of the origin of the congregation but should be properly leading to the readers’ clearer understanding of why a religious congregation such as Franciscan Missionaries of Mary should be concerned about its financial management practices. Also, answer the question from current FMM documents, “why are financial challenges being experienced? Have these challenges been experienced a long time ago or have external and internal factors caused the challenges to arise? How are the provinces sharing funds and raising funds?” These are just some questions that need to be answered with clarity in the conceptual framework.
Financial management practices will be the independent variable and financial challenges will be the dependent variables
Expected outcome will be financial management system or modification of policies appropriate for Franciscan Missionaries of Mary religious congregation
1. What is the extent to which FMM congregations implements the financial management practices?
2. What is the degree of seriousness of the financial challenges as experienced by FMM congregation?
It is suggested that the annual reports in Franciscan Missionaries of Mary be thoroughly reviewed with emphasis on the financial concerns so that specific constructs may be identified and carefully woven with what the general literature covers about financial management practices in religious congregations.
Data gathering tool
Carefully construct the indicators for the new problems on (1) extent of implementation of the financial management practices, and (2) degree of seriousness of the financial challenges.
Update the reference list as you add new journal articles