The student has demonstrated the relationship between his future career and class concepts. He has pointed out that while working as part of the management of Major League Baseball (MLB) organization, he needs to master the concepts of financial planning and capital budgeting. Indeed, the mastery of these concepts is vital since managers are responsible for making executive decisions on behalf of an organization. The primary goal of these decisions is to ensure that an organization remains profitable. While the knowledge of corporate finance enables a manager to follow specific processes that will lead to the accomplishment of business goals, the understanding of capital budgeting guides one to make the profitable long-term investments and acquisitions (Vitez, n.d.). Thus, the student is right to assert that these two skills will make him successful in his career.
However, the student could have further explained how the elements of the two concepts affect his career. In the essay, he mentions that by pursuing the Master’s Degree in Administration and Master’s Degree in Sports Management, he will be equipped to serve in a managerial position. This explanation does not provide a reader with a clear visualization of their application in real life. When mentioning financial planning, the student should have stated that it will foster their understanding of the new ways to expand a business operation, find the available economic resources, and review the organization’s mission and objectives (Vitez, n.d.). Thereby, the financial planning skills will enable the learner to conduct a qualitative and quantitative analysis before making a decision. Capital budgeting contains the tools that facilitate the analysis of the goals set forth during the financial planning process (Vitez, n.d.). While the student mentioned that the two concepts are vital, he should have mentioned how they are interrelated and their applications in an organization.
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References
Vitez, O. (n.d.). Financial planning & capital budget. Chron . Retrieved from https://smallbusiness.chron.com/financial-planning-capital-budget-4104.html#:~:text=Corporate%20finance%20is%20a%20tool,financial%20planning%20and%20capital%20budgeting.&text=Capital%20budgeting%20is%20a%20method,acquisitions%20for%20improving%20business%20operations.
