is the planning and monitoring of a business's financial resources to enable the business to achieve its financial objectives
What is Financial management
100
is the proportion of debt (external finance) and the proportion of equity (internal finance) that is used to finance the activities of a business
What is Gearing
100
is the ability of the business to increase its size in the longer term
What is Growth
200
refers to long-term, broad aims affecting all key areas; that is, the strategic role of each key business function involves the managers of each function contributing to the strategic direction or strategic plan of the business
What is Strategy
200
is the ability of a business to minimize its costs and manage its assets so that maximum profit is achieved with the lowest possible level of assets
What is efficiency
300
encompasses the strategies that a business will use to achieve its long-term goals
What is strategic plan
400
is the extent to which a business can meet its financial commitments in the short term (less than 12 months)
What is Liquidity
400
are those resources in a business that have a monetary or money value
What is Financial resources
500
is the extent to which the business can meet its financial commitments in the longer term (more than 12 months)
What is Solvency
500
refers to the mutual dependence that the key functions have on one another. The key business functions work best wen they overlap and employees work towards common goals. Each function area depends on the support of the others if it is to perform at capacity.
What is Interdependence
500
is the ability of a business to maximize its profits