Question

Assessment i 4 Amal is a small business owner. She has a team of managers including a human resources manager, an operations manager, a sales manager, and a marketing manager. Who is responsible for the financial decisions that arise in the course of business?​

Answer 1

Financial decisions in Amal's small business are likely to be the responsibility of a finance manager or possibly Amal herself. This role would involve managing financial resources, including revenues, costs, and profits, and working with outside investors when necessary.

Step-by-step explanation:

In a small business such as Amal's, financial decisions are typically the responsibility of the finance manager or, in some cases, directly by the owner. Given that the business has a team of managers for different areas, the manager in charge of finance or accounting would handle these decisions, as they have expertise in managing the company's financial resources, including revenues, costs, and profits. This role often includes responsibilities such as budgeting, forecasting, managing cash flow, and investment decisions.

Every manager has a clear set of expectations and areas of responsibility. For example, the HR manager is tasked with overseeing the hiring process, as illustrated by directing a team to recruit for an open position, while the Financial Manager oversees the firm's financial health and fiscal decisions. Additionally, as the firm grows and information about products and finances becomes more widely available, outside investors like bondholders and shareholders may also contribute financial capital, relying on the financial information provided by the firm.