Financial Management And Its Application On Criminal Justice System

Financial Management and its Application on Criminal Justice System Name Institution Abstract Managerial skills are quite important in every field that is gearing towards economic development. The skills are applicable alongside the very many known theories such as the scientific theories, human relationship management theory, and system management theory. The paper reviews the various theories and their successful application alongside the managerial skills on Criminal Justice System. All of the theories reviewed, the system management theory stands out as the best strategy to use by the Criminal Justice system. Financial Management and its Application on Criminal Justice System For effective management of any organization, it is very crucial to consider managerial factors that are usually necessary for ensuring the success of the organizations. The most important part of management is the financial management, since; every company or organizational body requires finance for accomplishing their intended goals. To ensure a proper financial management, an organization can employ qualified personnel to assist in the financial planning. The financial planners are capable of designing the most economical activities with maximum turnouts that can eventually lead to the expansion and success of a particular organization. However, financial management skills can be applied in various sectors that seem critical, and hence; need a proper financial planning for effective completion of the intended activities. An example of such bodies is the Criminal Justice System. The Criminal Justice System requires a proper financial planning in order to perfectly carry out all the duties as provided by the law of a particular nation. A proper management of finance in delicate sectors such as Criminal Justice System requires very diligent leaders who are skilled and committed to their work. Management is usually geared towards the realization of the intended objectives by an organization in such a way that, a good management is likely to lead to the success of the organization, while poor management might lead to failure. Strategic financial management is essential in planning the financial matters related to any business or legal organizations (Zeiger, 2014). For a perfect understanding of the strategic financial planning in the organizations, it is necessary to explore management’s theories to gauge the most appropriate technique to be used in the company. Some of the theories include the scientific theories, human relationship management theory, and system management theory. The scientific theories involve analyzing the managerial tactics from a scientific point of view (Hawthorne, 2014). The managerial skills should be designed in such a way that limited resources are used to maximize the profit or the usefulness of an organization. The scientific theories can be used in the court scenes in the analyses of various programs requiring financial input, and gauging them to determine their reliability. On the other hand, human relations management theory involves the use of behavior of individuals in the management process (Banerjee, 2012, May 17). The financial managers are selected based on their social behaviors. In any organization,...