Integrative Problem Samantha Sampson retired a few years ago at the age of 55. Because she is bored with retirement and still relatively young, Samantha has considered starting a business of her own. However, she doesn’t know anything about business. As a result, Sam has hired the consulting firm for which you work to give her a brief tutorial on business and finance. To begin her lesson, Ms. Sampson has asked you to answer the following questions: What is finance, and why is it important to understand finance to run a successful business? What are the major areas of the finance discipline? How has finance changed since the beginning of the twentieth century?
Integrative Problem Samantha Sampson retired a few years ago at the age of 55. Because she is bored with retirement and still relatively young, Samantha has considered starting a business of her own. However, she doesn’t know anything about business. As a result, Sam has hired the consulting firm for which you work to give her a brief tutorial on business and finance. To begin her lesson, Ms. Sampson has asked you to answer the following questions: What is finance, and why is it important to understand finance to run a successful business? What are the major areas of the finance discipline? How has finance changed since the beginning of the twentieth century?
Chapter2: Developing The Business Idea
Section: Chapter Questions
Problem 6EP
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Integrative Problem Samantha Sampson retired a few years ago at the age of 55. Because she is bored with retirement and still relatively young, Samantha has considered starting a business of her own. However, she doesn’t know anything about business. As a result, Sam has hired the consulting firm for which you work to give her a brief tutorial on business and finance. To begin her lesson, Ms. Sampson has asked you to answer the following questions:
- What is finance, and why is it important to understand finance to run a successful business?
- What are the major areas of the finance discipline?
- How has finance changed since the beginning of the twentieth century?
- What are some of the financial trends that are currently of interest to businesses?
- What is value, and how is it determined?
- What does it mean to maximize value?
- What is sustainability, and how is this concept related to finance?
- What is lean manufacturing? How is the goal of value maximization related to lean manufacturing?
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