0704-883-0675     |      dataprojectng@gmail.com

THE IMPORTANCE OF EFFECTIVE FINANCIAL MANAGEMENT TO THE OVERALL SUCCESS OF AN ORGANIZATION

  • Project Research
  • 1-5 Chapters
  • Quantitative
  • Simple Percentage
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 3000

BACKGROUND OF THE STUDY

Planning one's finances requires making efficient use of one's resources (Kotze et al, 2021). Nearly all endeavors necessitate the application of financial resources. Since financing is required for the purchase of most things, there must be some form of financial management. It is impossible to amass financial resources and then employ them in any way (Nwonye, 2021).

First and foremost, financial planning entails anticipating the importance of financing, operating, and financial policies on the organization's future position and putting in place the appropriate measures that may be required (Kunene, 2021). The decision pertaining to the financial planning centers on the nature, extent, and make-up of the capital funds. It is a description of the management of capital resources, which includes the decision regarding the ratio of debt to equity (Kotze et al, 2021).

In the same way that fuel is essential to the operation of a motor vehicle or other type of running machine, financial planning is essential to the management of any corporation. Regardless of the structure, ownership, or size of the financial department of the company, there is a need to ensure that all aspects of financial planning and control in an organization are carried out to the highest possible degree of effectiveness. In doing so, it is possible to become more versatile and increase one's proficiency in financial matters (Kunene, 2021).

When it comes to the planning and making of financial decisions for the corporate firm, the financial management plays a very important role. The individual who is in charge of the company's finances and who holds the position of financial manager is accountable for those responsibilities (Nwonye, 2021). It is due in large part to the contribution that he or she makes to the company's ability to realize its corporate objectives, which includes shaping the corporation's financial future.

1.2 STATEMENT OF PROBLEMS

We are living in the days of economic fluctuation and recession, in variably inflation has become paramount and the order of the day in so many economics. Banks are folding up, while those in operations are within the time (Kotze et al, 2021). There are clashes in the global stock market, most investors have incurred financial losses, banking merger and acquisition is not yielding much fruit as expected the prospective investors are afraid to invest, the investment trend is not stable, the financial experts failing in their professional duties in the economic crunch is harder (Kunene, 2021).





Related Project Materials

THE CHALLENGES ASSOCIATED WITH THE TAXATION OF RESEARCH AND DEVELOPMENT (R&D) ACTIVITIES

Abstract: THE CHALLENGES ASSOCIATED WITH THE TAXATION OF RESEARCH AND DEVELOPMENT (R&D) ACTIVITIES

This research investigates the cha...

Read more
EMPLOYERS’ ASSESSMENT OF ADEQUACY OF OFFICE TECHNOLOGY AND MANAGEMENT CURRICULUM FOR GRADUATES' EMPLOYABILITY SKILLS ACQUISITION IN NORTH-WEST NIGERIA

Abstract

The study on employers‟ assessment of adequacy of office technology and management curriculum for graduates‟ employability skill...

Read more
THE EFFECT OF MANAGER’S LEADERSHIP STYLE ON THE SECRETARY’S PRODUCTIVITY

ABSTRACT

This study was carried out to examine the effect of manager’s leadership style on the secretary’s p...

Read more
PHARMACOGNOSTIC AND ANTI INFLAMMATORY STUDIES OF THE STEM BARK OF FICUS GLUMOSA DEL. (MORACEAE)

ABSTRACT

Ficus glumosa is widely distributed in Northern part of Nigeria; it has been exploited for both its medicinal and economic impor...

Read more
ROLE OF ENUGU STATE BROADCASTING SERVICE IN CONFLICT RESOLUTION (A STUDY OF ENUGU NORTH)

Abstract

The aim of this study was to analyze the Role of Enugu State Broadcasting Service in Conflict Resolution. (A study of Enugu Nort...

Read more
PERCEPTION AND ACCEPTANCE OF CAESAREAN SECTION AMONG PREGNANT WOMEN

 STATEMENT OF PROBLEM

Traditionally, Nigerian women are unwilling to have CS because of the genera...

Read more
THE ROLE OF COMPETITION IN SHAPING THE BUSINESS ENVIRONMENT

ABSTRACT: THE ROLE OF COMPETITION IN SHAPING THE BUSINESS ENVIRONMENT

The study’...

Read more
THE EFFECTS OF PUBLIC RELATIONS ON ORGANIZATION. (CASE STUDY OF ZENITH BANKS IN ANAMBRA STATE)

Background of the study

Public Relation is the art and social science of analyzing trends predicting th...

Read more
Impact of building materials management on project delivery in Nigeria

Abstract

Waste Management is pertinent in achieving sustainable Development, which is fuelled by the growing concern fo...

Read more
A STUDY OF THE MOSQUITO AS THE PRIMARY MALARIA VECTOR

The Plasmodium parasite, which is responsible for malaria, as well as nematode worms, such as Wuchereria bancrofti, which are responsible for filar...

Read more
Share this page with your friends




whatsapp