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Value of Financial Knowledge to a Business Manager

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Discuss the value and use of financial knowledge to a business manager.

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Solution Summary

This solution discusses the financial knowledge that a business manager must possess in order to manage a successful and profitable business.

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A business manager is responsible for many financially-related duties such as evaluating the financial health of a business, raising the capital needed for business projects, determining which projects will contribute most to the future of the business, budgeting, and investing. Financial knowledge will allow a business manager to increase the value of the business.

A business manager must be able to turn a profit by managing both the operations expenses and the financing costs. Although the business may sell a large quantity of products, this does not necessarily generate profit. A business manager needs the financial knowledge to maximize profits by cutting costs or increasing sales to make sure that the business will be able to meet its financial goals. A business manager ...

Solution provided by:
J Pye, MSc
Education
  • MSc, California State Polytechnic University, Pomona
  • MBA, University of California, Riverside
  • BSc, California State Polytechnic University, Pomona
  • BSc, California State Polytechnic University, Pomona
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