Davia R. Mack
Dr. Micahel Powers
April 1, 2012
In order for you to have a successful business you must have the ability to operate a business, have financial skills and understand marketing. I would also use fair and ethical procedures in my business affairs. This is called organizational ethics. “In addition to employing fair and honest tactics in business, corporations must also manage relationships within the organization in an ethical manner.”(Editorial Board, 2011) The scenario talks about an inventor that has a new idea for a new appliance that meets the consumer’s need. The inventor has little financial skills and no management skills so her spouse asked her to come up with two examples to see if her ideas are even worth trying to start the invention.
How Should I Invest
As an inventor with little financial skills and no management skills you would need to understand the risk and danger of inventing an appliance that meets the consumer’s needs. As a female inventor you have to persuade both sexes that your invention is something they will need and use in everyday life. Men would be the hardest to persuade because they feel as if women are the weaker sex. Autonomy is the number one definitive motivation for entrepreneurs of all ages and both genders. (Buchanan, L., 2012)
An Investment Banker is a person or a company that gives advice to other organization that may be interested in your product. They offer advice to the investors who supply the fund for your invention. The function of an Investment Banker is they give advice, they control selling of the stock of their organization to the general public, they help develop the financial policy of the organization, they work with the sells teams of the bank and they maintain and performs all the functions which is a very effective procedure without any lost to the firm or organization. The importance of an Investment Banker is you do not have to give any money for their advice, they work at least 70 hours a week or more before deals close, they must be efficient and taskful enough to manage all the operations at a single point in time.
Stock market is a general term for the organized trading of stock through exchanges and over-the-counter. The actual process of trading stocks along with the supply and demand that drive prices and price trends are the function of the stock market. Stock represents the ownership of a company when a company is privately own, the owner holds 100 percent of the shares. Most stock is held and traded electronically via a large database. Public company allows anybody with money to buy, sell and hold their stock.
Financial management is the process of managing financial resources, including management decisions concerning accounting and financial reporting, forecasting and budgeting. The functions of financial management is to study and implement investment…