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F i v e
Cha p te r

FIGURE 5.7 Business management.

5.3.6 Business Management
Within the enterprise model, a business management function may
be composed of seven areas (Fig. 5.7).

5.3.6.1 Financial Planning and Management
In financial planning and management, financial resource plans are
developed and enterprise goals are established. Among the functions
are planning costs, budgets, revenues, expenses, cash flow, and
investments.
Input includes financial goals and objectives established by man-
agement as well as summarized financial data received from all areas
of the enterprise. Output includes financial reports to stockholders,
departmental budgets, and general ledger accounting.

5.3.6.2 Accounts Payable
Accounts payable primarily involves paying vendors. Input includes
vendor invoices and goods-received reports. The output includes dis-
count calculations to vendors and payment checks. This last function