Question

In: Operations Management

How can senior management ensure that financial and other resources are available to support the accomplishment...

How can senior management ensure that financial and other resources are available to support the accomplishment of the organization's action plans, while meeting current obligations?

Solutions

Expert Solution

It is essentially the job of the senior management to look over the day to day process of a company. Usually, the preside over all the functions of the company that involves cash and since they have to plan out all the decisions regarding cash flow, it is their responsibility to come up with a plan, maintain the plan for long time sustainability and alter the plan as and when needs arise to be able to change the plan. They have to make sure that the company has enough reserves to allow them to continue their basic functions in the time of cash shortage or other difficulties while also actively participating in the current activities of the company to achieve the short term as well as the long-term goals of the company. They have an obligation to the current as well as the future requirement of the company and therefore, falls under their care to essentially regulate all the resources towards the appropriate function at the appropriate time.


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