The main aim of communication is giving and receiving information through different kind of mediums like that of verbal, written or through body language, signs and expressions. Basically information is different from that of data. Data is simply the sign, symbols or characters without meaning where information means a processed data which have some meaning and value in its own. Bare accounts of assets, capitals, liabilities etc give no information and are just merely a data. However when this same things are arranged in a balance sheet form to give a financial position of a business it is called information. Information is a commodity that is versatile. It increase analytical skills and decisive power and guide the information towards efficiency of economy. In business one need different information to interpret the position of the business. Information is like lubricating oil that keeps the functioning of the business smooth. It is very important to make the information in the business up to date and the data processes is arrange in such a way to make it useful for the business. In order to get the precise information one needs to create the system in the company which let effective data flow and smooth functioning.

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Due to globalization, the banking sector has been spread to the greater extent. As a result of this our financial services have been exposed to number of changes in the market. As far economy is concerned we need to opt proper guidance towards risk management. Banks acts an intermediator for channelizing the funds through mobilization and funds’ deployment. It results in exposure to different types of the risk like that of credit risk, liquidity risk, interest rate movement risk, foreign exchange risk etc.

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Another important aim of the communication is the suggestion. The suggestions are normally are upward in the nature and this is mainly because of the reason that these are actually the proposals that are given by the subordinates that are higher than them and also it indicates the change that is very essential for the procedure that already exists.

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The human resource tools act as very good technique that can reduce the cost that incurred in the process of the hiring and management of the staff. The small businesses can at times afford the overhead of the dedicated human resource department. The human resources and the academic personal data warehouse acts as an very exciting human resource tools as this tool makes the valuable information of the personal payroll systems easily accessible with help of powerful web interface. There are also a number of the online human resource tools that can help the busy business manager cope with the demands of the human resource departments. The absence of the admin function from the department acts as a saver of the cost but in any of the circumstances it does not mean that the small businesses may fail in their planning of the respective human resource requirement and so can create ill will among the staff with the help of the haphazard treatment of the human resource functions like the pay and sick leave. The incompetent human resource management can result to the limited production and the uncooperative staff.

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Financial management is the term used for efficient management of the funds in order to meet the aims of an organization. It is the special function which is directly related to the top management. The importance of this term is observed in capacity of staff in overall organization. This term is explained differently by the different financial management experts in this field. The term basically deals with the financial strategy of a particular organization while personal financial life management deals with the management strategy of an individual. It consists of steps how to increase the capital and how to budget a capital. It deals not only with budgeting that is long term but it also deals with short term budgeting like that of current liabilities. It is connected with dividend policies of the share holder. Planning is the part of financial management. Funds flow is moved according to some plan according to the financial management and also it deals with planning, controlling and procuring of financial resources of any firm. Financial management is operational activity that is held responsible for getting and using the fund flow effectively that are necessary for effective operational work in any organization.

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