Answer to Question #235229 in English for Lulo

Question

It is imperative that there should be a plan in place for each business to run successfully. Support your answer by indicating the relevance of each of the following factors to EMS:1.cash flow plan

2.cash budget

3.human resources

Answer 1

Planning entails identifying objectives for a company's future direction and determining the resources required to attain those objectives. Managers will build marketing and operational plans that include core organizational values in order to achieve the objectives (vision, mission, culture, etc.). Any organization needs to manage its cash flow properly. Failure to maintain a healthy cash flow can lead to serious problems for your company, ranging from large debt to the permanent closure of your doors. When looking at the large view, it may not appear that a few bad months will have a significant influence on your bottom line. Negative cash flow, on the other hand, can have a cascading effect on other elements of your company; the stakes are actually rather high. A cash budget is critical, especially for small businesses. It enables a corporation to determine the amount of credit it may give to consumers without running into liquidity issues. A cash budget helps a corporation avoid running out of cash during periods when it has a lot of expenses. Human resource planning (HRP) is a continual process of systematic planning ahead to ensure that an organization's most important asset—quality employees—is used to its full potential. Human resource planning guarantees that employees and jobs are a good match while preventing labor shortages or surpluses.