This article throws light upon the seven main types of business function of a manufacturing undertaking. The types are: 1. Purchase Function 2. Productivity Function 3. Distribution Function 4. Accounting Function 5. Personnel Function 6. Research and Development 7. Financial Management and Economics. Type # 1. Purchase Function: Materials required for production of commodities should be procured on economic terms [...]
This article provides a study note on Finance Function:- 1. Meaning of Finance Function 2. Approaches to Finance Function 3. Aims. Meaning of Finance Function: Finance function is the most important of all business functions. It remains a focus of all activities. It is not possible to substitute or eliminate this function because the business will close down in the [...]
This article throws light upon the top seven features of financial management. The features are: 1. Estimating Financial Requirements 2. Deciding Capital Structure 3. Selecting a Source of Finance 4. Selecting a Pattern of Investment 5. Proper Cash Management 6. Implementing Financial Controls 7. Proper Use of Surpluses. Financial Management: Feature # 1. Estimating Financial Requirements: The first task of [...]