Financial management
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Welcome to the Financial management page
Description
What is financial management?
The control and operation of the cycle “budgeting-accounting-audit”, embedded in a broader policy and management cycle of
- policy preparation and planning,
- decision, implementation,
- monitoring and controlling,
- and evaluation and feedback.
Reeth - 1998
In a well functioning resource management system, financial management and performance management processes will exist using complementary and mutually supporting processes.
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Thinking about the concept
A visual thesaurus search is always an excellent starting point to discuss a concept definition:
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Relations of Financial management within Corporate futuring (and Organisational futuring)
There exists a close vertical relationship within Corporate futuring:
- Outer focus: Financial management
- Other focus: Performance
- Inner focus: Supporting
On the Outer focus level, a close relationship exists with:
Corporate futuring and Organisational futuring intertwine, on the Outer focus level, through:
In concrete terms, this means:
- The trio - 'Supporting', 'Performance' and 'Financial management' - is inextricably linked.
- Your 'Financial management' contributes substantially to the 'Operational Strategy' and 'Commercial management'.
- To realise your 'Financial management' through the 'Operational Strategy', you need a 'Requisite organisation'. Even so, to realise your 'Commercial management', you need the right 'Activa- & enablers management'.
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Questions we can ask ourselves when contemplating our Financial management
- Is our 'Financial management' based on 'Performance' and 'Support'?
- Is our 'Financial management' robust enough to generate a viable 'Commercial management'?
- Is our 'Financial management' keen enough to contribute to our 'Operational Strategy'?
- Or is our 'Financial management' a collider or a mediator between our 'Operational Strategy' and or 'Commercial management'?