Using financial resources, a company can develop production or make investments.
What elements do financial resources consist of?
Financial resources include important parts that form a single whole:
Financial methods.
Material levers.
Legal support – legislative acts and other regulations.
Information support – statistical data and documentation that ensure continuous production activities.
What is the importance of financial resources?
Their importance is papua new guinea email list difficult to overestimate. They constantly attract the attention of various economic entities. Economic development is achieved primarily by attracting financial resources by organizations with the aim of making a profit.
What is a popular source of financial resources?
The newest source of such resources, which is increasingly used by small companies, is franchising. Its essence is the establishment of long-term partnerships between two or more organizations, involving the conduct of activities under one trademark, the provision of the technologies used and scientific developments.
Thus, the financial and economic resources of an enterprise should be understood as all the monetary resources at its disposal, directed towards achieving the set goals: ensuring the release of products, maintaining and strengthening the market position, etc. Their peculiarity is that they are presented in monetary form, belong to a specific owner, and are directed towards increasing the scale of the enterprise and social needs.