Examine the role of management as it relates to finance in a corporation. In your post, discuss the role of management by addressing the following prompts:
- Explain the various aspects of finance that management must understand.
- Describe why a manager needs to understand the characteristics and importance of financial markets including their liquidity, competitiveness, and efficiency.
- Interpret the function of the Financial Balance Sheet in assisting in management's decision making process.
- Discuss what could happen if management does not fulfill responsibilities related to finance. Share a real world example from your own professional experience or from an external source.