Study Materials

Essential characteristics of research

Research is a procedure that includes a sequence of steps needed to gather and examine the information to boost and amplify the understanding and consideration of a particular topic or issue. It involves a major four steps as posing a question, setting hypothesis, collecting data to analyze the posed issue, and presenting answers to the posed question. It is s method of searching for facts in any branch of knowledge.

Scope, Role, and Functions of Financial Management

Financial management functions are mainly viewed from two approaches as traditional function or role and the new role or functions. Raise of funds is taken as a traditional role or function whereas raise and allocation of funds are taken as a new role of financial management or finance managers. The first approach confines the functions of financial management is the procurement of funds only and ignores the utilization of funds whereas, the second approach not only focuses on the procurement of funds but effective utilization of funds as well.

Role of Managerial Economics in the Business Decision-Making Process

Managerial economics combines economic theories with decision science tools and as it is metrical and analytical it assists the managers to solve the complexity existed in the business. Managerial economics through its skills and techniques always ensure the solution to business decision-making problems that may be faced by every type of business organization. Managerial economics plays a key role in the business decision-making process.

Meaning and Importance of Financial Management

Financial management is concerned with the procurement of funds from various sources and making the effective allocation of financial resources into productive use. It is a decision-making process relating to investment financing, asset management, dividends and so on. Finance, therefore, occupies a prime place at every stage of operation of a business like production, marketing, distribution of returns, and so on.

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