ABSTRACT
This chapter continues the internal analysis of organizations in examining one of the functional areas that organizations are often divided into the financial context. There are, however, also some highly significant and distinctive features of managing finance in many the contexts (cash management and foreign exchange risk management). Like physical, operational, marketing or human resources, finance: Financial management is concerned with managing this scarce resource to ensure that finance is: The importance of finance to hospitality managers is illustrated in the following Short Case Illustration. Managers have a number of ways of gathering information about their own and competitors finances. Using a capital structure in this way allows hospitality firms to own fewer (or no) hotel or restaurant properties and invest more in technology and loyalty-based assets using franchising and management contracts.
