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The primary driver of making money is to grow revenues. What are some of the things...

The primary driver of making money is to grow revenues. What are some of the things that an organization must pay close attention to in order to ensure its financial health?

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Answer #1

Some of the key aspects an organisation should pay close attention in order to ensure financial health are-

  1. Prepare valid financial statement and business activity report and right forecast for future business.
  2. Monitoring legal aspect of the business to check on legal requirements.
  3. Find the area of improvement or area where we can reduce cost.
  4. Analyse market trend to find out opportunity of expansion which can be through merger or acquisition.
  5. Chalk away the plan to close the business line which are not profitable.
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