FINANCIAL MANAGEMENT

RATIONALE

In the management of an organization, how the financial resources are managed is critical and the centre of the success and continuity of that organization. Whatever activity that an organization involves itself in, there is financial issues involved such as costs, revenue, return, profits and financing along the way. Therefore the survival of an organization at a broad level and the career progression of managers is dependent on how well they manage the resources of the organization. Hence all those managers whose primary responsibility may be financial management and those to whom it may be secondary need a thorough understanding of financial management for their personal and their organizational prosperity. 


MODULE DESCRIPTION

The module introduces participants to the role of a finance manager in an organization including raising of resources, planning for the allocation of resources, the implementation of the financial plans through taking specific decisions such as financing, investment, working capital management and dividend payment. The module builds managers’ competence in raising resources from the right source, putting investors’ money in the right investments and appropriately rewarding the investors.

MODULE AIM

The aim of the module is to enhance participants’ knowledge, skills and values necessary to practice sound basic financial management in their enterprises for their personal success and that of their organizations.

MODULE OBJECTIVES

The purpose of this module is to provide a theoretical framework for considering corporate finance problems and issues and to apply these concepts in practice. Participants will enhance their knowledge and understanding of financial management. Specifically, this module should: • give participants a base level of finance knowledge that an MBA from a top business school should possess, • give participants the ability and confidence to tackle common financial problems in practice, • provide adequate preparation for future finance classes, especially the advanced corporate and investment classes in this MBA programme and at UMI.

MODULE LEARNING OUTCOMES

At the end of the module, participants will be able to:

1. Appreciate the ethical standards required of Financial managers

2. Raise finance for the organization from the most relevant sources.

3. Allocate resources to the operation of the organization appropriately.

4. Utilize resources of the organization towards the organization’s goals.

5. Take appropriate strategic decisions for the competitive edge of an organization.