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There is no way we can talk about approaches to business without knowing what a business is.
Business is an economic activity done in other to earn a living
It is the provision and distribution of goods and services with a view to meeting people’s needs and making a profit.
A unique characteristic of a business is its profit aim.
While all business endeavours must address a problem, they are always profit-driven.
A business that is not profitable will likely fold up.
Money deserves more commendations among the outstanding inventions in the entire history of mankind.
By overcoming the problems of the barter system, it has been able to save time and eradicate difficulties in the organization of productive activities and in the distribution of the output of industry to consumers.
The massive technological progress of the past two centuries, the specialization of industry, and the establishment of countless local and international markets have all been facilitated by using money.
All of these would have been greatly impeded if reasonable and adequate monetary facilities had not been available.
The use of money makes it easy and simple to bring together factors of production and in organizing markets through which goods can be distributed for consumption.
Financial management deals with the maintenance and creation of economic value or wealth by focusing on decision-making with a mindset of creating more wealth.
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