Create a decision tree for the scenario you outlined in Topic 1 DQ 1. Attach the decision tree to your response and include insights into how you crafted it. How would you apply this decision-making experience to larger scale decisions at an organizational level?
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Financial management and planning for is a critical aspect of business success. It is the number one determinant to the smooth running, improvement, and stability of a business. As I study this course, I am gaining skills to be an excellent financial manager and planner who will set everything in line with business ideals. Most people who study finance solve simple to complex problems within their companies. By doing so, a finance expert manages value, adds value, and projects how business shifts affect companies’ values (Chladek, 2019). I remember reading articles on how the 2008 recession affected businesses and their finances. Most companies had to cut costs and reduce their spending. At such critical moments, finance managers are at the core of their companies to facelift them. I would love to learn all the aspects that I can apply to benefit large corporations and myself during critical moments.
The class requires that an individual focus a lot on practical and theoretical concepts. Without a doubt, finance classes have many technical ideas, including the formulae used in the analysis. These are not easy to crack without prior practice. To succeed in the field of finance, these formulae must be cracked. I realize that the theoretical concepts precede the practical. Any student who fails in the theories is disoriented to handle the practical. I continuously revisit all the work done before to renew my knowledge about the concepts to build my confidence for the practical.
Chladek, N. (2019, April 23). 5 reasons why you should study finance. Retrieved from: https://online.hbs.edu/blog/post/why-study-finance#:~:text=For%20example%2C%20if%20you’re,make%20well%2Dinformed%20b usiness%20decisions.
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