My dear Friends, henceforth I will be able to give you more stuffs and techniques to update your knowledge of economics and finances as I am getting support from my friend in a bigger way in terms of ideas, discussions, typing and many more. I am very grateful to her - Thanks Jude!
Today, I am writing this article based on the discussions I had with her as she recently completed her MBA.
In our present day economy, finance is defined as the provision of money at the time when it is required. Every enterprise whether big, medium or small needs finance to run its operations successfully. In fact finance is so indespencesable today that it is rightly said to be the lifeblood of an enterprise.
In the yester years finance was known as money or cash whose transactions were kept in the books of accounts in banks or in an organization. The employment opportunity was also less in banks (as there were only nationalized banks). But now with the growing pace of the economy finance has reached the skies. It has flowed into different streams, indeed has proved the economic development of the country which depends on the progress of various economic units, namely the co-operative sector, government sector and the household sector. Earlier most of us were not so much eager in making a career in finance, as there was no growth. But now majority of the MBA colleges have students specializing in finance, this can clearly tell us how the financial sectors are helping the economy grow.
Some of the streams of financial sectors are insurance, broking houses, banks, Asset Management Companies, etc. These channels of finance sector is been participating in a prominent way in the growth of our economy. For eg: Insurance sector plays a vital role by covering the risk of uncertainties which may occur in the economy and Asset Management Companies are helping the millions in realizing their dreams by managing their portfolio with a most professional approach. According to the requirements of various sectors people should be educated and trained in those fields. As the requirements started growing the need also grew. That is why there is huge demand for MBA students who are specialized in finance. For this in return the educational institutions should groom their students in the respective and prospective requirements of each channels of finance sector so that it can fulfill the supply side of the corporate financial needs.
The basic requirement needed in an MBA graduate specialized in finance is to have a practical knowledge of what the money and economy is all about. This makes a student grow in a very challenging way. Educational Institutions have to feed the students with lot of practical examples and case studies to make him understand the global economy better.
A career in finance is a fruitful one. It helps a person to be responsible about his job as he is inclined towards his growth as well as the organization, above all the economy and the nation. By maximizing the revenue and profit of the organization he gains the confidence from his stakeholders. This makes him to focus his path of growth in finance with dedication. Many of us wonder why a person should make a career in finance as they mistake it as an administrative work. This notion can be changed by knowing the importance of various functions in finance and their role played in developing the economy as a whole.
People should take up a career, which helps them as well as the organization and the economy grow. Yes, financial streams is the best way to describe a person’s growth as he plays with his mind in analyzing the situation which is seen and which is unseen. For this he first makes use of his inherited resources of analytical resoning and then the other available requirements. People get scared when they say finance is only about playing with too much of numbers, but this notion is absolutely wrong as it speaks about you analyzing a situation and coming out with a solution to overcome problems.
Before deciding on a career one should make a self-assessment of himself. This will decide where a person would like to grow. Sometimes people take a wrong decision thinking it’s the right one. My friend was telling me that one of her friend who has done MBA-specialized in HR and Marketing, thought finance was not her cup of tea 5 years ago. But now she has made her career in finance as a portfolio manager from past three years because of restless efforts and keen interest to learn the concepts practically.
For you to have a bright future in finance make your mark in finance today get to know the subject more, trust me you will never regret on it. This can happen with your interest in learning and commitment towards the subject.
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