Organizations use strategies as part of their business operations. Strategy should lead the direction an organization wishes to achieve. Before beginning strategic planning an organization needs to define the strategic statement, that is the direction it wishes to take. As part of basics an organization will need to define its mission statement, values, vision, strategic statement, and establish a balanced scorecard. It should be based on what makes the organization from others. The strategic objective set should be timely, measurable, and specific.

The importance of Cash Flow Management is important for any organization. Organizations need to carefully monitor their cash outflows, and inflows in order to ensure that they are able to meet their ongoing obligations. We often review cash flow of an organization including aspects that have an impact on the cash flow is managed. There are several ways in which an organization can better manage its cash flow situation. We will briefly discuss a few within this post that includes Accounts Receivable (A/R) and Accounts Payable (A/P) management..