Practical Financial Policy and Business Planning in an Organisational Context — Part I

Introduction This article attempts to take an integrated look at the nature of financial policy, and suggests some of its organisational and marketing implications. It starts with the obvious assumption that those who influence or formulate business policy need to take into consideration the balance between various functional policies, and to make some attempt to co‐ordinate and integrate them. This need becomes critical in a recession, for instance, because the dynamics of cash flow themselves become critical.