Traditional Approach of Financial Management

Traditional Approach of Financial Management
Traditional approach is the initial stage of financial management, which was followed, in the early part of during the year 1920 to 1950. This approach is based on the past experience and the traditionally accepted methods. Main part of the traditional approach is rising of funds for the business concern.

Traditional approach consists of the following important areas:

• Arrangement of funds from lending body.
• Arrangement of funds through various financial instruments.
• Finding out the various sources of funds.