Resource requirements will specify the financial resources required to executed your strategic plan, achieve your business objectives and maximize the organization's value. This is the process of managing your organization's financial resources
Financial Management
- Financial resource management is concerned with managing your organization's assets, liabilities, revenues, profitability and cash flow.
- Strategic financial management has a long-term horizon.
Process
- Setting out objectives and identifying resources
- Analyzing data and making financial decisions
- Tracking variance between actual and budgeted results
- Identifying the reasons for this variance.
Strategic financial management goes a step further in ensuring that your organization remains on track to attain its short-term and long-term goals, while maximizing value for the business owners.