The Evolution of Strategic thinking in Modern day Financial Management.

STRATEGIC MANAGEMENT

This paper tries to:
· Illustrate how strategy differs from tactics, and why it has become relatively more important in the recent years;
· Create awareness of the attributes required by an organization if it is to survive in a competitive struggle for existence, and its corresponding information needs;
· Recognize the two aspects of financial management at the strategic level:
o Treasury and
o Control
And illustrate how they are linked;
· Appreciate the features of a financial objective relevant to long-term financial health.

MANAGERIAL MAGATRENDS

When most of today’s top managers were obtaining their basic managerial skills, the environment in which they operated was relatively stable. Administration skills were rated highly because, although some fine-tuning might be required, there was an implicit assumption that tomorrow would be very much like yesterday. Today’s environment however, is best summed up by refer...