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Memo: Busines Environment Analysis & Tehnology Recommendations for Improving Business
Pages 3 (753 words)
Name: Instructor: Course: Date: Financial/Inventory Management Financial management is the orderly arrangement and handling matters that deal with money involved in the daily activities of a business entity. Financial management is aimed at attaining the financial goals of an organization or business.
It also requires financial control to ensure a business meets its objectives. This is achieved by ensuring assets are efficiently utilized and that they are secure. Financial management also demands there to be sound financial decision making. Decision making in businesses is significant for investment financing and management of profits. Financial inventory is concerned with recording of all financial activities that take place within a business. Inventory management in a business is vital because it provides records that are used in determining the progress of a business. This paper aims at addressing financial/inventory management by addressing key issues affecting a business entity. ER UMUC faces the challenge of integrating the two newly acquired businesses and merges their operations with its existing business operations. The most effective way to achieve this is to implement the adaptation of a common information storage system and format. The new ER UMUC Company should embrace improved marketing strategies for their acquired products. They can do this by combining mobile sale techniques of products that are compatible. The company should create a database of all their clients, describing their immediate needs and preferences. ...
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