Week 7 Project: Field of Study PowerPoint Presentation

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Week 2 Prooject Plan: Financial Planning And Forecasting

Gabrielle V. Bell

COMM120

Professor Patterson

April 18, 2021

Effectiveness Of Financial Planning And Forecasting For Small And Medium Enterprises Performance

Scope

The research investigates the performance of small and medium businesses that have utilized financial planning and forecasting in the past three years. The research focuses on the small and medium businesses in New York that have been in operation for at least five years. I will seek to understand how the businesses conduct their financial planning and forecasting and its contribution to the business’s performance.

Value

Financial planning and forecasting aim to help a firm develop better strategies in its operation and improve its performance. This research would impact my professional life through the insights discovered from the businesses’ experience using financial planning and forecasting. The business’s challenges in the implementation process would provide sufficient information on the significant areas to focus on in giving businesses the financial assistance required. The business that has shown substantial growth from financial planning and forecasting will help understand the best approach in offering financial planning and forecasting services to similar firms.

Communication medium

Effective communication would be vital to the respondent’s willingness to give all required information precisely and accurately. It will be rooted in the following principles

· Understanding the target audience

Creation of Rapport to deduce the capacity the respondent has in the firm and their field of specialization.

· Building professional reputation and credibility

During the interaction with the respondents, my conduct would both be friendly and professional (Davis, 2018). The professional presentation would make the respondent understand that giving the information to the right person while being friendly would make the interactions comfortable and interesting.

· Consulting the stakeholders

Stakeholders in the firm would give the directions for undertaking the research; recognizing them through consultations would make them offer all necessary assistance in getting the required information.

· Communicating in a clear and understandable language

The use of finance terminology would be used only for the professionals in the field who understand them, and simple, understandable language for other respondents.

Effective Presentation

Effective presentation requires uniqueness to keep the audience on track with the whole presentation topic. Achieving this will involve bringing the audience to life at the start of the communication by asking engaging and straightforward questions about the topic, which would also prepare the audience for what they expect from the presentation (Lee, 2019). The production would incorporate videos and prerecorded audio that would help the audience visualize the presentation’s fundamental interests—minimizing bullet points and replacing them with more interactive infographics, in conjunction with building connection points in the presentation rather than a slide by a slide presentation.

Research questions

What financial planning and forecasting tools are most effective for small and medium enterprises?

What is the impact of engaging financial consultants in financial planning and forecasting for small and medium enterprises in New York?

How long does the implementation of financial planning and forecasting take to improve small or medium business performance?

What challenges are associated with the implementation of financial planning and forecasting among small and medium enterprises?

Critical Question

Does the implementation of financial planning and forecasting among small and medium enterprises require a finance expert?

Part II

The possible sources for this research would include previous research articles about financial planning and forecasting among small and medium enterprises. Library searching of the articles ensuring that the sources are credible, reliable, and accurate. I will also utilize an internet search using google scholar, considering only articles written in five years, and gauge information relevance by how realistic the results were and the application of necessary financial principles.

References

Davis, J. (2018). Communicating Economic Concepts and Research in a Challenging Environment. Journal of Agricultural Economics, 69(3), 591–605. https://doi.org/10.1111/1477-9552.12300

Lee, M. (2019, June 17). 11 unique presentation ideas that inspire. Prezi Blog. https://blog.prezi.com/11-unique-presentation-ideas-that-inspire/