In today’s business environment, organizational leaders needs to understand the nature of business performance from the lens of new perspective relevant to the practices in financial management. The purpose of the study is to discuss the importance of budgeting techniques, cash management strategies and rational financial decision making in the arena of family businesses in the Philippines. The researcher aims to determine several factors that are involve to achieve desired business performance. Using the G*Power version 3.1.9.4, the total sample size needed for this study is 77. The members of sample size were selected via purposive sampling from the population. The researcher used a partial least squares structural equation modeling (PLS-SEM) to test the hypothesis and model. The findings indicated that cash management strategies (beta=0.519, t= 5.629, p=0.000) and budgeting strategies (beta=0.469, t= 5.459, p=0.000) has significant relationship with business performance while rational financial decision making (beta=-0.099, t=1.274, p=0.203) failed to achieve significant relationship. Considering cash management strategies as a mediating variable (beta=0.564, t=1.652, p=0.099) shows no indirect effect between rational financial decision making and business performance. In order for the rational financial decision making works with business performance, people performing managerial approach should factor the mediating role of budgeting techniques (beta=0.154, t=2.167, p=0.015) as the results shown a positive, though non-significant, the indirect effect on the relationship between rational financial decision making and business performance. The findings of the study can be the basis of people in the leadership position to arrive on a holistic view that business performance is a combination of financial and non-financial factors and a good grasp on single financial approach is not sufficient.
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