One of the most important economic principles used by financial management, as Besley and Brigham mention...

One of the most important economic principles used by financial management, as Besley and Brigham mention in the course textbook, is the importance of finance in today's world. The concept of finance covers numerous issues that affect the daily lives of people, society, companies and governments, among others Integrative Problem Sanna ntha Sampson retired a few years ago at the age of SS·Because she is bored with retirement and still relativel young. Samantha has considered starting a business of her own However, she doesn't know aything about business. As a result, Sam has hired the consalting firm for which you work to give her a brief tutorial on business and finance. To hegin her lesson, Ms. Sampson has asked you to answer the following questions: e) What is value and how is it determined? f) What does it mean to maximize value? g) What is sustainability, and how does this concept relate to finance? h) What is lean manufacturing? How is the goal of value maximization related to lean manufacturing? The answer to the questions must be substantial, developing your arguments in a logical, coherent and relevant way. Use complete sentences referring to the study material.

Homework Answers

Answer #1

e) Value is a measurment of benefit provided for a good or a service that is taken by the consumer. Value can be determined on the basis of money.

f) Maximization of a value is the companies success in the market where the company create its own demand for their goods or services.

g) The ability of anything to maintain certain level over a period of time is sustainability.

The ability of financial institutions to develop social standards and to maintain institution without any risk is called sustainable financial institution.

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