MONEY. MARKET. MANAGEMENT.
MONEY.
Money may not be the motivating factor behind every single decision that an organization makes, but it has a huge place of importance to run an organization. An organization has a lot of costs to provide projects to its members, and without money, they cannot deliver these projects. To obtain the money that an organization needs, they will have to come up with marketing strategies to attract potential sponsors and members. An organization always has its best to avoid a situation where money is a problem.
MARKET.
Organizations only have limited time or money to reach everyone to inform them about their cause. Identifying a target market means the organization will concentrate on people that are more likely to support the mission, vision, and goals of the organization. Limiting the population funnels research and budgets to the projects with the highest potential for growth, for both the members and the organization.
MANAGEMENT.
Financial management in any organization –, is a crucial function. To achieve organizational goals and objectives, it is the process of planning, organizing, controlling, and monitoring financial resources. It is an ideal practice for managing an organization's financial activities, such as procurement of funds, use of funds, accounting, payments, risk assessment, and any other finance-related transactions within the organization. Since finance is a critical and essential aspect of every organization, organizations, whether profit-making or otherwise, are having difficulty sustaining themselves without proper finances, not only that, it is vital to manage these financial resources effectively to be sustainable and long-term viable. Financial management helps make this a reality in organizations.
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