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Principles of Finance Videos 166 videos
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Principles of Finance: Unit 1, Alex, That’s Finance Potpourri for $500 67 Views
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Description:
Okay, so you want to be a company financial manager. It's basically up to you to make money for the shareholders. It would also be swell if you made good, ethical decisions and didn't cut corners by dumping all of your company's toxic waste into the local river. You don't want to learn that lesson the hard way (skinny dipping at the company picnic).
Transcript
- 00:00
Principles of finance ah la shmoop Alex that's finance potpourri
- 00:05
for five hundred Okay so you want to be a
- 00:08
company financial manager Well what does that really mean Well
- 00:12
more or less it means that you are the backstop
- 00:15
the last person standing The adult supervision in the way
Full Transcript
- 00:21
your company spends and accounts for money Nothing is simple
- 00:24
in this world in conflicts arise like weeds Three days
- 00:27
after a summer rain At the end of the day
- 00:30
you have to ask yourself continually what's my job Who
- 00:33
i work for How did i get here Your job
- 00:36
Make money for shareholders Oh and that includes stock option
- 00:41
holders of which you are likely one If you get
- 00:43
senior enough in your company think about dr skis oid
- 00:47
He never signed the hippopotamus oath so he didn't agree
- 00:52
to the whole do no harm thing You walk into
- 00:55
his office with a mole you think might be more
- 00:58
than a mall skis oid gets a twenty percent commission
- 01:01
from the lab that does work on mole scrapings But
- 01:04
with ninety nine point nine percent certainty skis oid knows
- 01:08
it's just a mole Instead of just sending you home
- 01:11
he has you by five grand worth of tests because
- 01:14
his twenty percent commission i'll advise him a new set
- 01:17
of golf clubs And he loves golf Sound kosher to
- 01:19
you Yeah it ain't as a financial manager You have
- 01:22
to put your client's First your company first other people
- 01:26
first ahead of your own interests even when the action
- 01:30
goes against your personal best interests If you do that
- 01:33
well a you stay out of jail be you do
- 01:36
your job and see eventually you gained the trust of
- 01:39
the company and the people around you and can look
- 01:41
at yourself in the mirror in the mornings without vomiting
- 01:45
for ethical reasons anywhere in a way this really is
- 01:48
greed at work that is by consistently doing the ethically
- 01:52
correct thing You become long term greedy You end up
- 01:55
with a big stock option packages az aki leader in
- 01:58
your company and make money legitimately and on it slee
- 02:01
rather than that you know a short term golf club
- 02:03
greed thing Eventually people like skis oid are found out
- 02:07
and have tio We'll move to nairobi working for one
- 02:10
of the princes there who notifies people over email that
- 02:13
they've won a million dollars and just need fifty grand
- 02:17
to unlock it Short term greed usually leads to very
- 02:20
bad things but there are ethical forks in the road
- 02:23
all the time You work for a power plant and
- 02:26
well you could dump your nuclear waste in the river
- 02:29
forgetting about the effects and save a ton of money
- 02:32
The plan works great until you're in the delivery room
- 02:35
one day and it's your child who has five arms
- 02:38
and six eyeballs Good fiduciary duty there tio save your
- 02:42
company money by dumping no ethics Come first do what's
- 02:46
right by the law and to your customers and know
- 02:48
that in the end well they are your bosses even 00:02:52.215 --> [endTime] ahead of your shareholders eh
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