THE INFLUENCES FINANCIAL MANAGEMENT IN DEVELOPING THE FUTURE FIRM`S BUSINESS

Valeria Arina Balaceanu ()

The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, 2009, vol. 9, issue 2(10), 112-118

Abstract: The role of the financial management is to create a system of managerial reports in order to efficiently develop the business. In the economy of the future, the intelligent company will put an end to the principle according to which a higher profit incurrs a higher risk, as the efficient management will reduce the risk to a great extent, by influencing the conditional environmental factors. Entrepreneurs and managers consider the financial management very important as it is strongly connected with the business controllable development and maximizing the profit. Economic analysis and financial diagnosis identify the “areas” in which the firm wins or loses money. A modern entrepreneur must be acquainted with the news of his area, must be up to date with the specialized knowledge, and must be able to reflect these in the decision-making process, considering the modern evolutions. He also has to be very clear and precise in denominating the principles and operational alternatives, he has to corroborate the set objectives and the paths for achievement, he must respect the opinions and individuality of the human resources he cooperates with, and to consider the positive elements coming from them. The managers of the future firms will be relatively young but will have a solid background of operational and business experience and will benefit from a highly logistic support from training in specialized institutions in the country and abroad. Their concern for competence will be highly interleaved with their activities which will lead to remarkable performances.

Keywords: management; financial management; future firms; business; performance (search for similar items in EconPapers)
Date: 2009
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