Whois & Analysis for liveplan.com

Financial management refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization.

It is the specialized function directly associated with the top management.

The significance of this function is not seen in the 'Line' but also in the capacity of 'Staff' in overall of a company.

It has been defined differently by different experts in the field.

A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them.

It may also contain background information about the organization or team attempting to reach those goals.

Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner.

Performance management can focus on the performance of an organization, a , employee, or even the processes to build a product or service, as well as many other areas.

Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends.

A commonplace example might be estimation of some variable of interest at some specified future date.

Prediction is a similar, but more general term.

Both might refer to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods.

Usage can differ between areas of application: for example, in hydrology the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period.

A planned economy is a type of economic system where investment and the allocation of capital goods is determined by an economy-wide plan of production.

A planned economy may be based on centralized, decentralized or participatory forms of economic planning.

A command economy or administrative command economy refers to the nominally-planned economies of the former Soviet Union and eastern bloc to highlight the central role of hierarchical administration in guiding the allocation of resources in these economic systems, as opposed to planned coordination.