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Management through budget in the context of U.E. integration and economic change

Anca Cruceru
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Anca Cruceru: Romanian American University

Romanian Economic Business Review, 2006, vol. 1, issue 4, 68-72

Abstract: In the context of E.U. integration and economic change emerges a new organization (the firm) based on knowledge, which uses as managerial method, a method of financial management- the management through budget. Having in view a profitable activity, this method assumes solving three interdependent problems: financing (attraction and using of the capital), risk (removal of the bankruptcy risk) and performance (obtaining the performance- rationality and maxim efficiency of the activity). These fundamental problems were at all times, but their importance magnified now, at the beginning of the 21st century. By solving these problems and taking into account the implications of change on the organizations, we can adapt to the European requirements and we can raise competitiveness on the E.U. market.

Keywords: EU integration; financial management; competitiveness; EU market (search for similar items in EconPapers)
Date: 2006
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Handle: RePEc:rau:journl:v:1:y:2006:i:4:p:68-72