Please answer the following 4 questions, each answer should be 200 words in length. Paragraph style answers will be fine.1. What is finance? Briefly discuss how the study of finance is essential to business today. There are other areas of business, such as marketing, human resources, and management. How does finance impact them? In other words, can a business efficiently run without everyone having some knowledge of the field? Explain. 2. Assume you are starting a new business such as a restaurant, barber shop, or spa, for example, and discuss the types of information you would access and research to get the business started. For instance, would you look at the local Small Business Administration's website for guidance on how to fund and setup a new firm? What financial tools would be useful, and how would they assist you in the startup process? Explain.3. Discuss the 2007-2008 financial crisis and what impact it had on the financial markets. Who was impacted? What caused the crisis, and how can a future crisis be prevented? Explain.4. Your boss has asked you to put together an informal outline/presentation on the risk-return tradeoff. In your own words, discuss the tradeoff. Does a risky investment always equal a big payoff and vice versa? What does it mean to be a risk-averse versus a risk-taker? What types of information must be considered when it comes to risk and return? Explain.

>Chapter 5: Purchasing and Supply Management Organization The role of organizational design Centralized versus de-centralized operations Future trends in supply chain management >Chapter 6: Category Strategy Development The difference between category strategies and sourcing strategies The category strategy development process Types of category strategy outcomes Supply management transformation initiatives >Wall Street Journal: “Amazon to Launch Its Own TVs in Push to Cement Itself in Living Rooms,” Link: https://www.wsj.com/articles/amazon-to-launch-television-lineup-in-push-to-cement-itself-in-living-rooms-11631192401?mod=djemCMOToday (Links to an external site.) Please review the assigned materials for answering the questions below. Questions ------------------------------------------------------------------------------------- How will launching Fire TV sets likely influence the organizational purchasing and supply management (P/SM) organization for Amazon (See Exhibit 5.2)? Describe how Porter’s Five Forces (Exhibit 6.10) can be used to create a Strategy Portfolio Matrix for Category Management (Exhibit 6.12) that Amazon can use to create a competitive advantage in the market for television sets. Discuss how Amazon can manage “Supply Chain Transformation” (page 237) utilizing the stages of supply management strategy evolution (Exhibit 6.14). Please provide an insightful question about category strategy development.