Financial strategy - the most important tool in the management of business activities to achieve their goals.It becomes particularly relevant in a volatile economic environment and volatile market environment of financial services.
strategy and tactics of financial management can be general and operational.Accordingly, the general strategy can be formed not earlier than 3-5 years.During this time, the relationship established with the budget determined by the formation of sources of income of the enterprise, as well as the way of formation of financial resources.Operational Strategy is created within one year and includes detailed information on income and expenses that relate to a specific period of the current activities of the enterprise.
Strategy - nedetalny, the general plan, which deals with a specific type of activity.
Such a complex concept as a financial betting, strategies and other basic concepts of effective management will help to create a coherent framework for enterprise management
effective financial strategy capable of ensuring the following:
- Formation and preparation of strategic reserves.
- Full compliance with financial possibilities of the company carrying out operations that are planned.
- Finding the most effective way of concentration of the financial resources available for investment and directions.
During the work on the creation of a strategy more attention should be allocated to build a competitive policy of production and sales, the efficient allocation of revenues and profits, as well as the mobilization of internal resources created.
It should be noted that earlier the term "strategy" was distributed only in military issues, but in recent years has found application in the field of business.Professor G. Kleiner states that a strategic decision - it is a decision which has a strong influence on the final outcome of an activity.
financial strategy underlies the efficient operation of the company, because it is a kind of framework which builds on the basic tasks and address specific issues.
development strategy can be defined in three different ways.
path first.The strategy is built on the basis of the analysis and structuring of an integrated scope.
second path.Defining a strategy based on the synthesis of the known activities of the individual plans of interrelated decisions that relate to different areas of the company.
Third Way.You can get ahead as mixed, because it combines the principles of the previous two options in different proportions.
worth noting that the advantage of the first approach is the priority position of financial strategy as a link between the objectives, mission and objectives.The second approach has a strong side is that there is a close connection between strategy and management policies of an entity.
correct financial strategy will help companies avoid a lot of problems in the future of the company, or maybe even bankruptcy, because the most important thing in business - to calculate the forces and be as confident in achieving a particular result.Quite a lot of modern companies can help the novice businessman with drawing up proper and thoughtful way of development.