Management and Finace

Management and Finance
Management and Finance are two areas of business that is vital to someone who is trying to operate a business. Most businesses operate with more than one person.   There is typically at least one manager and few persons/employees.   Therefore, management is a very important area for a business. Most business managers need to have some basic financial understanding. Balancing a checkbook and reading financial statements are important. Even though most people (unless they have a CPA license) hire someone to prepare and manage their books. If a manager does not understand what they have prepared they cannot tell if they are doing it correctly, nor can they properly use that information to run their business. Knowing adequate knowledge of management and finance areas a good manager needs to help his or her business function.
All businesses use some form of management. Some use a more traditional management approach. Some have ventured off into trying new management techniques. Regardless of which technique, management has one thing in common across all businesses; management involves managing people. To be an effective manager, one needs to have strong values. Values can be defined as general beliefs about the importance of normatively desirable behaviors about the importance of normatively desirable behaviors or end states (Edwards & Cable, 2009). It is through one’s values that their techniques in management can best be demonstrated.
Management goes beyond leading and directing people. It includes knowing how to talk to and get along with people. Good managers need to know how to work with people of different races and cultures. Diversity is very important. The implementation of organizational diversity practices has been shown to be linked to a number of positive diversity outcomes (Konard, 2007). Often manager’s, especially front line managers interact not only with his or her employees regularly but with the businesses customer’s...