Appropriate Management of Working Capital
Evolution of mankind has greatly influence the way good and services are exchanged in the market where old methods are replaced by new one. Environmental and technological advancement has influenced a lot the way people interact with each other to improve their livelihood. people who are interacting in exchange of good and services, need to have one unifying factor that will aid in ensuring there is sanity among them. In order for any given society to stand, it require other societies to come in and fill the gap in providing what it does not have.
Appreciating the need for technology that has been the key driver in influencing economic development cannot go without a notice. Capital management is important as it ensure the survival of any business in this competitive market. companies have come to realize growth and development that was not there before due to improved technology where production have been increased to ensure maximum income. nevertheless, for any company to realize changes mainly in the area of growth and development, it has to take into consideration importance of human capital.
Income in the company is important as it is brought about by the way capital invested generate income as a reward that determines the economic status of the company. Technological evolution has rendered to changes in the sector of finance such as mode and media used in exchange of good and services. Banking institution to be at par with technology, there are many changes that have been made to promote their growth and development. Online banking is one of the impacts of improved technology that has made user-friendly by the improved information technology where clients have easy access to their accounts. Proper accountability of finance and other resources in a company is crucial to ensure the survival of the company.
It is important for any given company to have a good planning on how much it spend to ensure minimal resource wastage. There are various sources of information crucial to drawing conclusion for the companies is how good and services are moving in the general market, in this case, one can make future treads of the market. Financial the crisis has always been a challenge to the human being, moreover, the vast changes of technology have rendered to be of great help due to updated information on how to deal with the crisis. nevertheless, studying the behavior of the various market structures in the market is usually easy due to the presence of vast information available on the online platform. Advocating for financial literacy has been easier due to availability of vast information on the internet .