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To succeed in business, one needs to know math. To what extent do you agree or disagree?

#business #math
Mathematics is a field which governs many aspects of our daily lives. It is believed by some
people
 that knowledge of
math
 plays a crucial role in achieving
business
 success. I completely agree with
this
 opinion. The main reason why I think numerical
skills
 contribute to
business
 success is that they enable
business
people
 to arrive at sensible decisions. One application of
business
math
 is statistics, which can provide predictions for future scenarios.
Such
 predictions can lay a firm foundation for more informed and evidence-based decisions in lieu of objective ones. Take the
business
 campaign of Bitis, a Vietnamese footwear corporation, as an example. They employed statistics to forecast the trend in the industry and carried out research and development for a new product before other competitors did.
As a result
, they gained a competitive advantage, with their new product becoming the best seller at that time. Another reason why I consider
math
 a key factor in
business
 prosperity is that it helps determine profitability, which is the ultimate goal of a
business
.
This
 can be done by subtracting all expenses from revenue to calculate the net profits. An understanding of the net profits helps key
people
 evaluate the effectiveness of the
business
 operation, thereby devising appropriate cash flow management strategies. Without knowledge in mathematics,
business
 owners, especially those of small businesses, would fail to realize whether their companies are doing well financially, and risk having more expenses than actual revenue. Those who overlook the importance of numerical
skills
 believe that company managers could hire accountants, obviating the need to equip themselves with
such
skills
. What
this
 argument fails to take into account is that if managers are ignorant of
math
, they would be unable to check the work of the accountants. In fact, there are cases of accounting fraud, inflicting financial damage to the company. In conclusion, I totally agree that
math
skills
 play a pivotal role in
business
 prosperity as it helps
business
people
 make wiser decisions and determine profitability.
Therefore
, they need to be equipped with
such
skills
 to drive their
business
 to success.
Submitted by Thanh on

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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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    • Sentence 2 - Example
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  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
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