httpswwwyoutubecomwatchvJ832kryICZI Listen to the video belo

https://www.youtube.com/watch?v=J832kryICZI

Listen to the video below and consider answers to the following questions Long-range: how can finance help to establish a goal, developed a plan, and allocate resources? Methodical: how can finance help us develop better habits, schedules, and systems? Quick fix: How can finance help us better deal with problems? https://www.youtube.com/watch?v=832krylCZI

Solution

(A)    The role of finance is to measure or assess any organization’s performance and the Balanced Scorecard supports this by establishing goals, putting up plans and enable to allocate resources, to operate effectively by measuring certain metrics such as free cash flow, organization’s economic value adds, efficient asset management, organization’s cost of capital, Risk management, operational efficiency of an organization, market share growth and how taxes are optimized etc.

(B)    The role of finance is very important in developing good habits, schedules and systems. For example, setting up regular money investing by writing goals for annual income and total worth for self but it should be realistic. This results into good savings rather spendings. Once the goals are set for yourself, this begins the small investments with long term returns in mind. And having the system in place helps you to place your finances automatically in various investments instruments and saving accounts; this allows an individual to build effortless wealth. Another example could be to link your financial accounts to maintain 401(k) and set the timelines to perform the transfers by doing on-time payments. Also, to keep an eye on your financial statements.

(C)    The financial benefits are to save more, less worries by paying debts and happier life. It is better to keep a note of the main financial sources for yourself. An individual should be realistic, motivated to have a financial stability. Hence, this helps in spending on essential things such as food, medication, housing etc.