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 The Role of Financial Management in a Firm

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.

Your post should be 200-250 words in length.