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Financial management is crucial for the longterm sustainability of an organization from "summary" of Fundamentals of Management (For B.Com, BBA, BBM and BMS) by J.P. Pathak
Financial management plays a vital role in the success and longevity of any organization. It involves planning, organizing, controlling, and monitoring the financial resources of an organization to achieve its objectives effectively. In today's competitive business environment, proper financial management is essential for the long-term sustainability of an organization. One of the key reasons why financial management is crucial for the sustainability of an organization is that it helps in ensuring the efficient utilization of financial resources. By effectively managing the financial resources, an organization can maximize its profitability and minimize unnecessary expenses. This, in turn, helps in enhancing the financial health and stability of the organization in the long run. Moreover, financial management enables an organization to make informed financial decisions based on accurate an...
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