What is the importance of strategic financial management?

QuestionsWhat is the importance of strategic financial management?
Deepak Goyal asked 6 days ago
   
3 Answers
Akshaj Singh answered 6 days ago
Strategic financial management is a process of planning and controlling the use of financial resources to achieve the strategic goals. The importance of strategic financial management is that it can help to reduce risk and achieve long-term goals. In order for a company to be successful, it needs to have a good grasp on its finances. It is important for an organization to think strategically about their financial management in order to avoid the risk of bankruptcy.  
Nikhil Rawat answered 6 days ago
With the changing times and technology, businesses are becoming more complex. In order to survive in this fast-paced world, it is important for organizations to have a sound financial strategy. They need to know how to manage their cash flow, understand their expenses and forecast future revenue. Strategic financial management is an important tool that helps companies in these aspects.  
Priya Vishwas answered 6 days ago
Strategic financial management is a process of making decisions about how to allocate funds to achieve the objectives of an organization. The importance of strategic financial management is that it helps an organization to effectively plan, manage and control its finances. The process of strategic financial management is not a simple one. It requires the involvement of a number of people in the company such as finance managers, accountants, project managers and more.