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3 years ago

What is first step of the financial planning process

Business

1 answer:

Komok [63]3 years ago

8 0

Answer:

Establishing and defining the client-planner relationship is the first step in the financial planning process.

Explanation:

Financial planning is a technique that determines how a business or an organization plans to achieve its goal and objectives. This plan enables the necessary activities, resources, and materials used to achieve the objectives of a business.

The financial planning process typically involves 6 major steps to clear the organization objectives.

First step is used to determine the financial status of an organization based upon incomes, savings and profits earned.
The second step defines the needs and wants of an individual in framing his goal.
The third step is used to develop alternate methods in solving problems.
The fourth step evaluates the alternate methods and it suggest the best alternative to be followed.
The fifth step suggest the individual to take necessary action to achieve their goals.
The sixth step implements the method of revising and rescheduling the actions as per the plan to clear the objectives.

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3 years ago

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If the economy is at potential output and the fed increases the money supply, in the long run real gdp will likely:________

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If the economy is at potential output and the fed increases the money supply, in the long run real gdp will likely decrease.

<h3>What is supply?</h3>

A basic economic notion called supply refers to the total amount of a particular commodity or service that is made available to consumers.
When shown as a graph, supply can refer to the quantity that is offered at a particular price or the quantity that is offered over a range of prices.
This is strongly related to the demand for an item or service at a particular price; all other things being equal, the supply offered by producers will increase if the price rises because all businesses aim to maximize profits.

Trends in supply and demand are what underpin the modern economy. Based on price, utility, and personal choice, any particular commodity or service will have its own unique supply and demand patterns.

Know more about supply with the help of the given link:

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2 years ago

One of your engine lathes has broken down, and you've contacted a local repair shop. when you go to the shop, the repairman does

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3 years ago

Which of the following is a disadvantage of a decentralized organizational structure? A. Increasing the size of the corporate bu

galben [10]

Answer:

Putting the organization at risk if higher-level management is unaware of their actions

Explanation:

Decentralization is a process of top management transferring decision-making powers, particularly in relation to planning and control, by means of delegated authority away from the top, to lower levels of management.

Once this is done, of the disadvantages is that: top management might not always be aware of issues when they occur and how and when they nmay have been resolved. This could put the organisation at risk because certain issues may have been better resolved at the top by virtue of the experience of senior management. In essence, Top management might begin to loose control.

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4 years ago

Sandra has a product idea. She has researched about all the competing products and the companies that produce them. The research

Fittoniya [83]

Answer:

Adaptation

Explanation:

A new product or an old product entering a new market normally adapts to compete with a similar product in the market. The owner or the manufacture of such product often go for a market survey to determine the size and target market of such product. The market survey helps them to make changes such as price reduction, logo change or change in packaging, to beat competing products.

Sandra researched all similar products that can compete with her idea, this will help her idea to adapt when it finally enters the market as a product. This illustration is a case of market adaptation.

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3 years ago