*Assistant Professor, Dept of Management Studies, Infant Jesus College of Engineering, Thoothukudi Dist-628 851
**Research Scholar, Dept of Management Studies, Infant Jesus College of Engineering, Thoothukudi Dist-628 851
Online published on 18 June, 2013.
The Financial Management has to focus on unpopular innovations during the recession as the role of Finance during the recession is to save money to the organization. The senior management expects all the support functions to bring innovative ideas and solutions which will lead to stronger organization, when the next growth era comes.
The Financial Management has to have priorities in mind and the strategic impact of the Financial Innovations in the recession time. The role of the Financial Management is not to minimize the costs for the time being, but to make the organization stronger and ready for the future growth. Financial Management during recession has to concentrate on optimization, improvement of productivity, and redesigning of the financial resources.
The economic condition in the country stand as hindrance to the dreams of the Financial Department thus affecting the growth of the organization. So this paper aims at the presentation of the relationship between Financial Crisis and its impact in Indian Industries. The paper also focuses on the impact of this GREAT DEPRESSION on the effective functioning of Financial Management.
So the Financial Department of organizations in the country has to focus not only on the effective utilization of financial resources but also has to foresee the bad effects of this meltdown on financial sector and also has to find some innovative solutions to face the outcomes of recession. Moreover these problems cannot avoid but can be faced with might. This becomes possible with careful analysis of the economy and Predictions of the future.
