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Essential Financial Management Skills for Tourism Enterprises: An Application Case of a Tourism Enterprise in Izmir

Essential Financial Management Skills for Tourism Enterprises: An Application Case of a Tourism Enterprise in Izmir

Seda Süer
Copyright: © 2020 |Pages: 18
ISBN13: 9781799830306|ISBN10: 1799830306|ISBN13 Softcover: 9781799830313|EISBN13: 9781799830320
DOI: 10.4018/978-1-7998-3030-6.ch010
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MLA

Süer, Seda. "Essential Financial Management Skills for Tourism Enterprises: An Application Case of a Tourism Enterprise in Izmir." Industrial and Managerial Solutions for Tourism Enterprises, edited by Atilla Akbaba and Volkan Altıntaş, IGI Global, 2020, pp. 147-164. https://doi.org/10.4018/978-1-7998-3030-6.ch010

APA

Süer, S. (2020). Essential Financial Management Skills for Tourism Enterprises: An Application Case of a Tourism Enterprise in Izmir. In A. Akbaba & V. Altıntaş (Eds.), Industrial and Managerial Solutions for Tourism Enterprises (pp. 147-164). IGI Global. https://doi.org/10.4018/978-1-7998-3030-6.ch010

Chicago

Süer, Seda. "Essential Financial Management Skills for Tourism Enterprises: An Application Case of a Tourism Enterprise in Izmir." In Industrial and Managerial Solutions for Tourism Enterprises, edited by Atilla Akbaba and Volkan Altıntaş, 147-164. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-3030-6.ch010

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Abstract

Financial management is crucial for tourism enterprises as well as the other enterprises that focus on obtaining and effectively utilizing the funds necessary for efficient business operations. The primary objective of an enterprise is to generate profit that is the revenues must exceed the expenses. The indisputable fact is that financial managers require the skills to make the best decision for profit maximization. Otherwise, the resources are wasted, poor decisions get made, and the financial performance of the organization suffers, as a result. The aim of this chapter is to determine the essential financial management skills for owners/managers of tourism enterprises to improve their financial performance. Therefore, essential financial management skills are identified according to the financial characteristics of tourism enterprises for financial managers to improve and develop the financial performance of the enterprise.

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