Business Finance - Reflection PT

Reflection: Organizational Goals and Financial Managers
Every business organization operates on the equity of the company. Their responsibility is to convince
shareholders to contribute and provide to the stakeholders to profit; this is what drives a business, and it is a
critical aspect of the survivability of a business. The main goal of a business organization is simple yet
straightforward; it is to return their invested resources through creating value or exchanging these resources
for income. A business is a complex entity that needs a strong workforce; thus, this is why it is branched out
into different departments governed by those in position.
One manager that is crucial in a business is the financial manager. A financial manager is defined as an
individual who supervises the financial health of a business (Nikhil Pandey). According to the Bureau of Labor
Statistics, their main purpose in an organization is to create financial reports, initiate investment activities,
and develop systematic plans to develop their finances in the long term. This simply implies that they are in
charge of the company's finances and the plans on how to multiply those resources.
With a duty that is in charge of a company's resources, it is important that the one taken up to the position is
goal-oriented. With the main goal of doing the responsibility of a business and properly investing resources
to bring them back to the company, this will allow a business to thrive in their own respective industry. It will
instill strategic planning in every financial decision to be undertaken since a goal-oriented financial manager
will make sure that every resource invested is logical and justifiable. Along the lines, it would also promote
better resource allocation within a workforce since the distribution of human and non-human resources would
be well planned for the sake of the business' future.
There are multiple types of financial managers; these include the controller, the treasurer, and the staff
member. A controller is focused on the internal financial work. They are mostly accountants, and they are
usually entitled to the position of a taxation officer. On the other hand, treasurers are focused on
communications with outside parties. They are responsible for borrowing from the bond market and
establishing capital structures. Building relationships with investors is their crucial goal, while also considering
relationships with stakeholders by presenting non-confidential records to the public. Lastly, staff members
are responsible for initiating and implementing environmental scans. These include ADHOK, regular scans,
and continuous scans.
Personally, if ever given the privilege and luck to be a financial manager in the future, I would like to be in the
position of the controller. It is the most aligned position to my college program choice, accounting, and I think
I could utilize what I learn in that field in working in a business in this position. To be an effective controller, I
need to instill the character stated earlier: to be goal-oriented. By being goal-oriented, I would have the
passion to look up in our progress whilst following the main goal of a business organization. On the technical
side, I would be able to delegate the human and non-human resources properly and ensure that all of them
are utilized at their maximum. And most importantly, I would need to instill morality and ethical behavior in
myself. Having the privilege to handle not only money and assets but also liabilities is a huge responsibility.
It is crucial to stay away from corruption in order to ensure the survivability of the company I work for.
In conclusion, every business' main goal is to make profit or value from their investments. In order to handle
a business, it is branched out into multiple facets that specialize in a specific skill. These are governed by a
person in power who is responsible for the decisions in their field. And finally, financial managers are
responsible for the finances that a company has.
REFERENCES:
https://www.bls.gov/ooh/management/financial-
managers.htm#:~:text=Financial%20managers%20perform%20data%20analysis,financial%20goals%20of
%20their%20organization.
https://emeritus.org/in/learn/what-is-financial-manager/
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Reflection: Organizational Goals and Financial Managers

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