Financial Management Goals (original) (raw)
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Goal programming applications in financial management
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This paper examines the applications of goal programming to multiple-objective financial management decision situations. Over 80 articles are included from over 20 major accounting. finance, banking, and management science journals in the past 30 years.
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European Journal of Business and Management, 2017
Financial Management refers to the application of general management principles to the various financial resources which are projecting. This encompasses planning, organizing, directing and controlling of the financial activities. Financial planning is process of framing objectives, policies, procedures, programs and budgets regarding the financial activities. This ensures effective and adequate financial and investment policies, adequate funds have to be ensured, ensuring a reasonable balance between outflow and inflow of funds, ensuring suppliers of funds, preparation of growth and expansion programs which helps in long-run survival of the company, reduction of uncertainties with regards to changing market trends which the company could be faced with, ensuring stability and profitability. Keywords: management, finance, organization, growth
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APPROACHES AND OBJECTIVESTOWARDS FINANCIAL MANAGEMENT
Financialmanagementisanintegralpartofoverallmanagement.Itisconcernedwiththe dutiesofthefinancialmanagersinthebusinessfirm.Thetermfinancialmanagementhasbeendefined bySolomon,"Itisconcernedwith theefficientuseofanimportanteconomicresourcenamely,capitalfunds".Thus, Financial Management is mainly concerned with the effective funds management in the business. In simple words, Financial Management as practiced by business firms can be called as Corporation Finance or Business Finance. This paper provides the approaches and objectivestowards financial management.
Application of Goal Programing for Financial Management of a Listed Industrial Goods Firm in Nigeria
Journal of Advances in Mathematics and Computer Science
In today’s competitive business environment, companies are faced with a lot of problems such as setting goals, planning how these goals can be achieved, organization and control of how the available scarce resources can be used to satisfy the aim and objectives of the company. Every decision made determine if the company will maintain, increase or lose its market share in today’s competitive market. Thus, there is need for mathematical modeling tools to help in making the right decision. Although we have different mathematical techniques that can be used, Goal Programing technique is chosen in this study since it enables the decision to strive toward multiple objectives, thereby enable optimum use of resources. This paper is aimed at demonstrating the use of goal programing for financial management of a listed Industrial Goods Firm in Nigeria. The result shows that two out of the five formulated goals were met. The least expected total of revenue, expenses, asset and employer benefi...
International Journal of Financial Research, 2013
This paper examines the management of the financial statement of UBA using goal programming (GP) technique. The data are collected from the annual financial statement of the bank to cover a period of 2007 to 2011. Six goals are identified in the bank: goal (1) (asset accumulation); goal 2 (liability reduction); goal 3 (shareholders' wealth); goal 4 (earning); goal 5 (profitability); and goal 6 (optimum management of the items in the financial statement). Applying POM-QM Version 3 software, the solution generated reveals that besides goal 2, all other goals are attainable by the bank. It is not therefore possible for the bank to reduce its liabilities, for the sake of reducing or increasing the other items of its financial statement. Based on this, it is concluded that the bank should convert its liabilities to earning assets quickly or as much as possible.
Financial Goals Choices and Performance of Firms in Malaysia
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The objectives of the study are (a) to ascertain the financial goals pursued by companies in Malaysia and (b) to find out the relationship between firms financial performance and stated financial goals. Data on the financial goals are collected from 41 KLSE listed firms through a questionnaire. An analysis of the relationship between the financial goals pursued by these firms and their actual performance is conducted using dummy variables for financial goals. The results of the questionnaire analysis are: (a) Firms in Malaysia follow multiple financial goals. (b) A very few firms consider maximization of market value per share as their primary goal in the financial decision-making. (c) From the overall rank ordering of the financial goals, the following four goals could be isolated as more important in practice: (i) maximization of operating profit before interest and taxes (PBIT); (ii) maximizing the rate of return on equity (ROE); (iii) maximizing the growth rate in earnings per s...
Empirical Study on Corporate Goal Formulation
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This research attempts to provide some insights as to what types of goals are adopted and how these goals are established in small and large companies. The major findings of this study are briefly as follows: (1) large companies set their corporate goals after broad involvement of divisional managers, whereas small companies have owner-established goals, (2) the different functional departments are quite receptive to the corporate goals adopted, and (3) profit is the most important and most frequently adopted goal in small and large companies.Business Administratio
Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming
Applied System Innovation
Optimal financial planning plays a vital role in maintaining concentration and on the path as the organization extends, when new challenges materialize, and when unpredictable situations pounded. This study aims to develop and implement a goal programming model to evaluate financial planning based on the annual financial report of Saudi Basic Industries Corporation (SABIC), which assisted it in developing the financial planning model. This study is mainly designed to analyze SABIC’s budgeting structure; therefore, in order to maximize the benefits from the whole budget, goal programming is implemented for the entire budget. As a result of this study, we identified the following objectives as specific: reduced expenses, increased revenue, increased net profit, increased fixed assets, reduced debt, and increased equity share participation as a result of this project. Moreover, the analysis involved determining whether all objectives were met at the end of the study. Consequently, this...
A Comprehensive Analysis on Managing Business Goals and Objectives
JMSS, A2Z Journals, 2021
Goals and objectives that are well-chosen guide a fledgling firm on the correct path and keep an established business up and running. Business objectives are an important element of creating priorities and positioning your firm for long-term success. Setting company goals and developing separate targets to assist you to achieve each goal will substantially improve your capacity to attain those goals. Here, we look at the concept of a business goal, the distinction between a business goal and an objective, as well as some recommendations and examples of short and long-term company goals. Goals define where you want to go and when you want to get there. They may help you enhance your company's overall performance, whether you want to gain market share or enhance customer service, for example. The more precisely you describe your objectives, the more likely you are to follow through and achieve what you set out to do in the first place. The exact measures you and your organization must take in order to accomplish each of your goals are known as objectives. They spell out exactly what you must do and when you must do it.