· Be consistent with the aims of the business.
· Be based on the opinions of as many people as possible.
· Not decided by someone who has done little research.
· Set challenging but realistic targets.
· Specific, manageable, achievable, realistic and time-based.
· Be monitored at regular intervals.
· Be flexible
Cash Flow & Cash Flow Problems:
- Cash flow is the short term impact of financial decisions as it displays a monthly figure.
- Profit is the long term value of financial problems.
- Too much outflow
- Too little inflow
- Outflow come before inflow.