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Financial planning process essay

A successful company has to have skilled workers in each level of the organization from top management to regular employees. A successful company must have good working relationship with suppliers and customers outside the organization as well. Financial planning is a process that estimates the capital required and determining the company competition. It is important for a company to have financial policies in place for the organization to be successful.
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Importance of Financial Planning

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Financial Planning A successful company has to have skilled workers in each level of the organization from top management to regular employees. A successful company must have good working relationship with suppliers and customers outside the organization as well. Financial planning is a process that estimates the capital required and determining the company competition.
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Strategic Financial Management Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and behavior have been set. The Financial Plan describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved. Businesses that fail to plan are very likely to fail and at best will not recognize the full spectrum of profit avenues available to them.
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