Financial management is the strategic planning, organizing, directing, and controlling of financial undertakings in an organization or an institution. It involves applying management principles to the financial assets of an organization, while also playing an important part in fiscal management to maximize shareholder wealth and ensure financial stability.

Financial Management

Financial management

Strategic planning is a systematic process for envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them. It involves setting priorities, focusing resources, and ensuring that employees and stakeholders are working toward common goals to improve organizational performance and adapt to changing environments.

strategic planning

organizing

Directing is the process of guiding and overseeing the activities of an organization or team to achieve desired goals, involving decision-making, communication, and motivation. It requires a balance of strategic vision and interpersonal skills to effectively coordinate resources and inspire individuals toward collective objectives.

directing

Controlling is a management function that involves monitoring and evaluating the progress toward achieving organizational goals, ensuring that everything is aligned with the established plan. This process helps identify deviations from standards, allowing managers to take corrective actions to maintain or improve performance.

controlling

financial undertakings

management principles

financial assets

fiscal management

maximize shareholder wealth

Financial stability refers to a condition in which the financial system, comprising banks, financial markets, and other financial institutions, operates efficiently and is capable of withstanding shocks without significant disruption. It is essential for sustainable economic growth, as instability can lead to crises that have widespread negative impacts on economies and societies.

financial stability

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