Financial management in business is the strategic planning, execution, and oversight of an organization’s financial activities and resources. It involves assessing risk and identifying opportunities for profit, as well as monitoring cash flow and managing debt. By efficiently managing its finance, a business can maximize its profits, minimize risks, and develop a competitive advantage. Financial management also helps companies to remain solvent while meeting current obligations and preparing for future needs. With effective financial management, businesses can have access to necessary funds and resources to achieve their objectives.