Promoting Financial Literacy to Societies
The way good and services are exchanged in the current world has undergone major changes due to evolution and increase understanding of mankind. Considering increase needs of people that require them to engage in various activity to satisfy them, has lead to changes in the way they conduct their business to promote efficiency . People are known to have used different ways as media of exchange to promote their survival, in this case, looking for a common media that will unify them. In order for any given society to stand, it require other societies to come in and fill the gap in providing what it does not have.
People have come to appreciate the importance of technological advancement in the way people do the businesses, where production has been efficient due to improved machinery. One of the challenges that many companies experience is the availability of capital for the starters and working capital management for the already established companies. companies have come to realize growth and development that was not there before due to improved technology where production have been increased to ensure maximum income. nevertheless, for any company to realize changes mainly in the area of growth and development, it has to take into consideration importance of human capital.
Capital invested in any given company has to show result by producing income for the company for it to survive in the market. Technological evolution has rendered to changes in the sector of finance such as mode and media used in exchange of good and services. Changes in the sector of information technology has to lead to development of the banking sector to a more user-friendly institution. Online banking is one of the impacts of improved technology that has made user-friendly by the improved information technology where clients have easy access to their accounts. Company should incorporate technological advancement in ensuring accountability of the resources and company finance.
Financial planning is one of the activity that should be considered by any company so as to ensure growth and development is realized in future. Evaluation of various treads of good and services in the market gives a good information source for company to come up with proper planning strategies. To ensure appropriate action is taken during the financial crisis, people need to equip themselves with the right skills and knowledge that the technology has to offer. nevertheless, studying the behavior of the various market structures in the market is usually easy due to the presence of vast information available on the online platform. Advocating for financial literacy has been easier due to availability of vast information on the internet .
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