BUISENESS MANAGEMENT
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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provide financial resources to implement strategic plan
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provide guidelines to implement the strategic plan
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outline the financial plans of the business
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provide a system of recording financial statements
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Detailed explanation-1: -Financial management must provide the financial resources to allow the implementation of a business’ strategic plan. A strategic plan outlines goals, objectives and future direction of a business. Financial resources ensure the business continues to grow and is able to achieve its goals and objectives.
Detailed explanation-2: -Finance sets the long-term financial goals for an organization. This also helps in setting goals for each department. With these financial goals, it also becomes possible to find out whether any funding is required for any specific consideration in the company.
Detailed explanation-3: -Financial resources are the funds and assets that finance an organisation’s activities and investments. In simple terms, financial resources are the monies that keep a business operating, and there are several ways a business will raise and use its financial resources.