Why is it important for persons who work in other areas in a business to have an understanding of finance? Do you think it is more important for Marty Kimble to have a basic understanding of all the areas in a business than a person who works for a large national corporation
Marty Kimble, who “retired” many years ago after winning a huge lottery jackpot, wants to start a new company that will sell authentic sports memorabilia. He plans to name the company Pro Athlete Remembrances, or PAR for short. Marty is still in the planning stages, so he has a few questions about how PAR should be organized when he starts the business and what he should do if the company becomes very successful in the future. Marty has little knowledge of finance concepts. To answer his questions and learn more about finance in general, Mr. Kimble has hired Sunshine Business Consultants (SBC). Assume that you are a new employee of SBC and your boss has asked you to answer the following questions for Mr. Kimble.
- Why is it important for persons who work in other areas in a business to have an understanding of finance? Do you think it is more important for Marty Kimble to have a basic understanding of all the areas in a business than a person who works for a large national corporation
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