CHAPTER 20

Financial planning

This chapter has the modest aim of providing an introduction to the elements of financial strategy. Financial resources can be a limiting factor which prevents necessary expansion, and the way in which resources are obtained may make it easier or harder to obtain further resources in the future. No strategy can sensibly be decided without consideration of financial issues, and this chapter shows what is involved.

The question of financial planning has appeared on other pages of this book only to be dismissed in summary fashion with a rider stressing its importance. This is the unfortunate consequence of the need to analyse one thing at a time, and creates a measure of unreality in that in a real-life management ...

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