Key Functions of Financial Planning
Vadybos referatas. Business management techniques for engineers Key Functions of Financial Planning Ass 3 of. Contents Page. Financial Planning. “ ” chart. External and internal factors. Internal Language. Time zones. Costs estimation. External Different culture. Exchange rate. Conflicts between countries. Economic growth forecasts.
I am a Financial Director of an Engineering Company, Mediplant. In this Company is produced medical equipment and implants. One of the key factors for financial planning is that Company is situated in two continents- India and United Kingdom. I have a new team member, my task is to explain him how the financial planning is done in this Company and discuss possible difficulties.
The Company is Traditional hierarchical organizational structure, this tells us that all decisions are made at the top of the pyramid. The layout of the company is very clear and it’s easy to see who is responsible to whom.
These strategic aims will become a foundation for big tactical stuff, put in place by the first line managers.
First of all the goals and objectives will be set by the board of directors. Profit targets, long term plans.
Forecast for sales, stocks, production, costs has to be prepared.
All those forecasts has to be put together to one master forecast.