Question

What does financial and non-financial strategies mean?

Answer 1

Answer: financial strategies defines and measured in financial terms, cost savings, sales revenues, or profit. Non- financial changes in key performances indicates accident rate, or customers satisfaction survey scores.

Step-by-step explanation:

Answer 2

Financial and non-financial strategies:

Financial strategies:

• A financial strategy enables to evaluate financial needs and resources required to support and meet our objectives and to fulfill the organization's overarching objectives.

• It outlines a firm's financial long and short term goals. It has three components financing, investment, dividends.

Non-financial strategies:

• Non financial strategies are any information that does not hold any monetary value allocated to it.

• The information are considered as notes to the financial statement. This strategy focuses more on what the firm wants to achieve over the long term rather than how the firm wants to accomplish something, which you do through specific strategy.