Promoting Financial Literacy to Societies
Evolution of mankind has greatly influence the way good and services are exchanged in the market where old methods are replaced by new one. There are many factors that have changed the way people conduct business, in this case, environmental factors have played a major role. There is no single person in the world who is self-sufficient, everyone need each other to satisfy his/he needs in one way or the other. 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.
Appreciating the need for technology that has been the key driver in influencing economic development cannot go without a notice. Capital management is important as it ensure the survival of any business in this competitive market. Companies have adopted new method of doing business by incorporating technology so as to ensure production and income is maximize for the company to realize growth and development. Without human capital into consideration, companies cannot experience the development of any kind, therefore, it is important for the company to put into consideration its input.
Economy is mainly determined by the way various capitals in the company interacts with day to day expenses bring out income. 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.
It is important for any given company to have a good planning on how much it spend to ensure minimal resource wastage. One of the source of information that has rendered to be of great importance in planning in any given company is how good and services move in the market. People need to adopt new methods of doing business that technology has to offer over the years, this is to ensure appropriate action is taken during financial crisis in any given scenario. Information available on the online platform that is up to date has rendered useful over the years for the purpose of ensuring one has to come up with informed decision on market trends, in this case, making conclusion on the financial management is usually simplified. Advocating for financial literacy has been easier due to availability of vast information on the internet .