Look at finance as a function not finance as in money, but finance as a function ie a finance team. So the question may be rephrased to Why is there the need of a finance team in a retail organisation?
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Finance function is important in any business, either it is a fashion retail organization or money changer company. Finance is necessary for the management of money and other assets. I don't think any company can run without money and assets. So finance is an important function of any business.
answered 1 year ago
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