Role of Empowered Financial Managers in Business's Development

Abstract

In the 21st century business landscape in a complex competitive situation and influenced by multiple factors such as globalization, technological development and diffusion of new technologies have been growing rapidly. In the framework of this new perspective, the company is to survive and thrive to be different from their previous work. In particular, companies should be looking for new sources of competitive advantage and new forms of competition to operate, which requires a clear understanding of the nature and dynamics of competition. One of the most important factors and tool in helping companies to develop and competition in business is having managed funds and sources management that requires empowered financial managers to control the fund inflows and outflows.And because Finance and monetary transactions in an enterprise is of most important and rather of main foundation of every company or organization undoubtedly this important matter has direct and inseparable connection with enterprises' Financial Managers. Therefore role of financial managers in monetary policies and moving policy of an enterprise is assigning role. From other side the discharging of this role by financial manager is not only oriented to him only but the numerous factors and variables are involved in output of a financial manager' work. Financial manager' necessities collection for exercising his responsibility optimally, can be considered as empowerment i.e. forming ,power, science, authorities, influence, experience and professional knowledge which are abilities of a financial manager in an enterprise where he is working. It is oblivious that a part of this ability is related to individual owned of financial manager and the other part is regarded to external factors. In this direction, growth and promotion of these external as well as internal factors for financial managers can be considered as an effort for his empowerment. So in this paper we shall discuss and study how the empowered financial managers can affect on business development and improvement and enable the business to be competitive in this modern world and globalization area.