The Business Objective and Financial Management

Abstract

When individuals or organisations elect to use their expertise, time and money in a particular way, they have an objective in mind. The objective governs the decisions to be made. For example, the management of a football team newly promoted to the Premier League would have the long‐term objective of becoming top of that league. Improved spectator facilities and planned development of junior players would help in achieving this objective. In the short‐term, however, the main objective would be to survive in the Premiership. Improved training and the immediate purchase of experienced players would help here.