"I knew its on how to run a business!", was my answer when I was enquired about what do I study in my MBA. That might be my perception about this discipline of studies. But its not only on how to run but also on how to manage. Though early, not my passion was to run a business (but in oscillatory thoughts after attending my Financial accounting classes), I was interested in knowing how does a business functions and how could I understand it. The truth or the fact to be known is, THE WORLD RUNS AFTER MONEY.In managing a business, the first priority should be the Financial management.Since it is the key to take any financial decision.
The initial start of the business comes from capital(a financial value). Running a business, we need Revenue(a financial value). Goal of the business is Profit(a financial value). The answers for the question where do I get money? where to invest money? are most important for any business.The importance of the financial management was to such an extent that the other areas of marketing, economics, production, etc. are also fully based on generating money or focus on money(also values but money to a greater extent).I understood, Money is the King in the business rather, the customers.Because the customers approaches only money making companies.
A business may be small or large, managing daily finance and maintaining good record of the business financially is needed.If there is no importance given for a financial management in a business be in small level, the company will struggle to grow. Keeping in track of the assets, liabilities, capital, profitability(to me,all are new financial terms) are a must for even a small company. With the glad of knowing atleast a percent less than the meager, I'm trying to know more on how to manage a business financially. And staying at a place which is an apt for that, I'm impending for the knowledge that I would gain.
Gurusheela Palanichamy
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