Purchase Solution

Financial Planning: Importance

Not what you're looking for?

Ask Custom Question

Identify, and discuss what financial planning for a business is and why it is so important; what can happen if not done accurately.
Please include references: 400 words. Thank you.

Purchase this Solution

Solution Summary

The answer to this problem explains the importance of financial planning. The references related to the answer are also included.

Solution Preview

Financial planning for a business is meant to forecast future financial results and find out how best to use the company's financial resources to achieve the businesses' objectives (1). Financial planning has an element of looking into the future. I involve a thinking process.
Financial planning is important for a business because it confirms that the objectives set can be achieved from a financial perspective. It also helps the business to set financial targets for the firm. Financial planning is important for business because it helps set targets for the business and provides rewards to employees that help meet the objectives. Financial planning is important because it helps achieve the strategic goals of the business (2). In addition, achieving the financial objectives ensures that the ...

Solution provided by:
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
  • "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
  • "Thank you kindly sir. "
  • "Excellent and well explained. --Thank you kindly. "
  • "Awesome notes. I appreciate you."
  • "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution


Free BrainMass Quizzes
Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

Employee Orientation

Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.