Reflective practice

Purpose

At the beginning of this subject, some of you might be thinking ‘Why do I need to study finance? I am not working in a finance related role.

An understanding of finance is very important for a manager in carrying out their full scope of responsibilities effectively. In your current role as a manager, it is likely that you are often involved in setting targets and/or the preparation of budgets for your department which invariably requires a sound knowledge of finance.

Required

Your task is to identify any one concept of finance which you have used in your current position as manager in your organisation recently. Provide a practical example to demonstrate the use of the concept.

What challenges you faced in dealing with the situation and how you handled the situation. What have you learnt from this experience?

Format

For further details please refer to the resources and support on a Guide to Reflective Practice.