Najib H Khan: Financial management and business management are two distinct but interrelated fields. While business management deals with the overall functioning and operations of a business, financial management specifically focuses on managing the financial resources of a company. Najib H Khan, a renowned expert in financial management, emphasizes that financial management is crucial to the success of any business and should be given equal importance as other business functions.

Business management involves planning, organizing, directing, and controlling the activities of a company to achieve its goals and objectives. It includes managing human resources, marketing, operations, and other business functions. Financial management, on the other hand, focuses on managing the financial resources of a company, including its capital, assets, liabilities, and cash flow. This involves analyzing financial statements, preparing budgets, making financial forecasts, and making investment decisions.

One of the key differences between financial management and business management is their focus. Business management is concerned with the overall performance of a company, while financial management specifically looks at the financial health of a company. Financial management plays a crucial role in the decision-making process of a company. It helps managers to make informed decisions by providing them with accurate financial information.

Another significant difference is the skill set required. While both fields require a strong foundation in accounting and finance, financial management requires specialized skills such as financial analysis, risk management, and investment management. Business management, on the other hand, requires skills such as leadership, communication, and strategic thinking.

In conclusion, financial management and business management are two distinct but interrelated fields. While business management focuses on the overall functioning of a company, financial management specifically deals with managing the financial resources of a company. Both fields are crucial to the success of a business, and Najib Hossain Khan highlights the importance of giving equal importance to financial management along with other business functions.