Business - Financial Management for Better Business

Business is an organization that sells goods or services to consumers or other businesses, to earn a profit. Historically the business word of the English language business, from the basic word busy which means "busy" in the context of individuals, communities, or society. In the sense, busy doing activities and jobs that bring benefits.

Business means circumstances in which a person or group of people is busy doing profitable work. The word "business" itself has three uses, depending on the scope - the singular use of the word business can refer to a business entity, a juridical (technical), technical, and economic unit aimed at making a profit or profit. Broader usage may refer to specific market sectors, such as "television business." The most widespread use refers to all activities undertaken by the community of providers of goods and services. But the exact definition of "business" is still a matter of debate to this day.

Planning

When a business has been running and has a steady income, the financial management department will show a step forward by making a plan and involving the internal part of the company as a business step forward. The financial management department will know the size of the company's financial strength, so it can assess the extent to which the company is able to finance and make better business planning.

Monitoring

Financial monitoring is one of the most important financial management functions. When you have a plan to invest and grow a business in a new place, you should really take care of the new business, especially if the selected location is near you. One of the most appropriate supervisory ways to oversee the business is through financial management functions through regular financial statements covering cash flow, working capital, current assets, income statements, accounts payable and accounts receivable.

Assessing Investment Worthiness

The company may receive a request to be an investor in another company. Likewise, companies may look for investors or want to invest their money in stocks or return to business. From that assessment, the executive branch of financial management will decide to approve or refuse investments based on the plan and financial capabilities and policies used by the company.

Working capital settings

Working capital includes operating budget, current assets, salary, and cash flow. In financial management, it is very important to stay above the working capital budget in order to prevent the business from going bankrupt. Financial managers should regularly assess records, assets, and cash flows to see how much money is spent, how much money goes in, and how many are tied in assets.

Constructive criticism and suggestions

Providing professional and constructive criticism and criticism is important in developing employee performance. Millennials expect bosses to direct any opinions expressed about their work to spur their interest for a longer career with the company.

Communicate the company vision

Doing two-way communication is not too hard to do because millenial generation is more open and can give an opinion. If you want to get a loyal employee try to continue to establish good and intense communication. In addition to communicating you can also change the design of the office becomes more open. Many large companies are finally carrying the concept of open office and proven to improve the performance of its employees.

Try as much as possible

You never know what you can get from your maximum effort. Remember that results never betray the process. You do not have to care about the opinions of others that make you not eager in developing your online business. Instead, use their negative opinions as fires of encouragement to keep trying and struggling through the various obstacles that hamper them.

Thank you for reading!

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Resource : https://id.m.wikipedia.org/wiki/Bisnis