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Financial Planning (business)
Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and objectives have been set. The financial plan In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans. This often includes a bud ... describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved. The financial planning activity involves the following tasks: * Assess the business environment * Confirm the business vision and objectives * Identify the types of resources needed to achieve these objectives * Quantify the amount of resource (labor, equipment, materials) * Calculate the total cost of each type of resource * Summarize the costs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vision Statement
A vision statement is an inspirational statement of an idealistic emotional future of a company or group. Vision describes the basic human emotion that a founder intends to be experienced by the people the organization interacts with.The Infinite Game Vision statements may fill the following functions for a company: * Serve as foundations for a broader strategic plan. * Motivate existing employees and attract potential employees by clearly categorizing the company's goals and attracting like-minded individuals. * Focus company efforts and facilitate the creation of core competencies by directing the company to only focus on strategic opportunities that advance the company's vision. * Help companies differentiate from competitors. A consensus does not exist on the characteristics of a "good" or "bad" vision statement. Commonly cited traits include: * concise: able to be easily remembered and repeated * clear: defines a prime goal * Time horizon: defines a time horizon * future- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goal
A goal is an idea of the future or desired result that a person or a group of people envision, plan and commit to achieve. People endeavour to reach goals within a finite time by setting deadlines. A goal is roughly similar to a purpose or aim, the anticipated result which guides reaction, or an end, which is an object, either a physical object or an abstract object, that has intrinsic value. Goal setting Goal-setting theory was formulated based on empirical research and has been called one of the most important theories in organizational psychology. Edwin A. Locke and Gary P. Latham, the fathers of goal-setting theory, provided a comprehensive review of the core findings of the theory in 2002. In summary, Locke and Latham found that specific, difficult goals lead to higher performance than either easy goals or instructions to "do your best", as long as feedback about progress is provided, the person is committed to the goal, and the person has the ability and knowledge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Plan
In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans. This often includes a budget which organizes an individual's finances and sometimes includes a series of steps or specific goals for spending and saving in the future. This plan allocates future income to various types of expenses, such as rent or utilities, and also reserves some income for short-term and long-term savings. A financial plan is sometimes referred to as an investment plan, but in personal finance, a financial plan can focus on other specific areas such as risk management, estates, college, or retirement. Context of business In business, a financial plan can refer to the three primary financial statements (balance sheet, income statement, and cash flow statement) created within a business plan. Financial forecast or financial plan can also refer to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Management
Financial management is the business function concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;" the latter often defined as maximizing the value of the firm for stockholders. Financial managersFinancial Managers (FM) are specialized professionals directly reporting to , often the |
Investment
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is to generate a return from the invested asset. The return may consist of a gain (profit) or a loss realized from the sale of a property or an investment, unrealized capital appreciation (or depreciation), or investment income such as dividends, interest, or rental income, or a combination of capital gain and income. The return may also include currency gains or losses due to changes in the foreign currency exchange rates. Investors generally expect higher returns from riskier investments. When a low-risk investment is made, the return is also generally low. Similarly, high risk comes with a chance of high losses. Investors, particularly novices, are often advised to diversify their portfolio. Diversification has the statistical effec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
