Objective of Financial Management Homework Help
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What are the basic objectives of financial management?
Our online guide of objective of financial management homework help is designed to answer all such related queries and develop your basic understanding of the subject.
Financial management is planning, organizing and channelizing financial activities like procurement and utilization of funds of the organization. We apply general management principles to fund management of the enterprise.
Basic objectives of financial management can be categorized into two broad divisions
- Profit maximization
- Wealth maximization
- Any organization opens its shutters to earn revenue and maximize profit.
- Objective of financial management homework help discusses how profit is the measurable technique to understand the business efficiency of a concern.
- A business concern can follow traditional as well as modern approach to maximize its profits.
- As profit maximization is a parameter to understand health of a business, it reduces the risk associated with the business.
We put forth some arguments favoring the profit maximization approach of a business concern.
- Profit is the main source of funding for the concern.
- It is the parameter of business operation.
- Profitability enables the firm meet its corporate social responsibility.
Arguments that work against profit maximization
- It leads to exploitation of employees as well as consumers.
- Profit maximization lead to corrupt business practices like resorting to unfair means to obtain license, break rules to achieve target, quality certification etc.
- It is a modern approach to business involving modern innovations and improvements.
- Wealth maximization as stated in objective of financial management assignment help targets to achieve maximum wealth of the stakeholder of the business.
- It deals in increasing the net worth of the share holders of the business and globally accepted long term strategy of various business houses.
Arguments favoring wealth maximization
- It is considered superior to profit maximization as it looks to create increased value for the stakeholders.
- Wealth maximization provides the exact value of the enterprise.
- The goal considers both time and risk involved in the business.
- Efficient allocation of financial resources.
Unfavorable arguments for wealth maximization
- All roads lead to profit maximization. It’s a roundabout way to reach the same goal.
- Wealth maximization is activated through profitable position of the enterprise.
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