Financial Management Strategies to Increase Company Profitability
Abstract
Effective financial management is a critical factor in fostering a company's growth and long-term sustainability. By managing finances properly, a company can boost profitability, ensure operational stability, and create lasting value for its stakeholders. This article explores a variety of financial management strategies that businesses can implement to increase their profitability. The key areas of focus include managing cash flow, controlling costs, making sound investment decisions, and handling debt efficiently. It is anticipated that by adopting these strategies in a structured and thoughtful manner, companies can maximize their profits and strengthen their competitive position in the market.
References
Almashhadani, M., & Almashhadani, H. A. (2022). Internal mechanisms characteristics and firm financial profitability. May. https://doi.org/10.35629/8028-1105010106
Eton, M., Mwosi, F., & Mpora, E. B. (2022). Financial Management Practices and Small- Scale Businesses ’ Profitability , from the Viewpoint of Kabale Municipality , Uganda. 3(3), 165–178.
George, C., Abuba, S., & David, A. (2017). ENHANCING MANAGEMENT STRATEGIES FOR PROFITABILITY OF CORPORATE ORGANISATIONS IN NIGERIA. 2(2), 17–33.
Ibrahim, U. A., & Abu, M. (2019). Impact of Financial Control Mechanisms on Profitability Performance?: A Case of Manufacturing Firms in Nigeria Impact of Financial Control Mechanisms on Profitability Performance?: A Case of Manufacturing Firms in Nigeria. May. https://doi.org/10.20431/2349-0349.0703001
Morshed, A. (2020). Role of working capital management in profitability considering the connection between accounting and finance. 5(2), 257–267. https://doi.org/10.1108/AJAR-04-2020-0023
Said, K., States, U., & Doll, Y. (2021). Strategies to Improve Financial Profitability in the Banking Industry. 20(1), 52–70. https://doi.org/10.5590/IJAMT.2021.20.1.03
Samborska, O., Domnich, O., Mazur, Y., Kyriazova, T., Yastrubetska, L., & Baranov, A. (2023). The Importance of Financial Management in Ensuring the Financial Stability and Profitability of Organizations. 1489–1496.
Tambunan, S., Wijaya, M., Siregar, A., & Pratama, I. (2022). Cuadernos de economía The Effectiveness of Risk Management on Quality of Financial Statements with Profitability as a Mediator in Banking Companies. 128, 165–175.
Copyright (c) 2024 Nurul Masithoh
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
