In the information age, the key to any business is to ensure its long-term development.To manage the long-term development of the enterprise must determine its mission and vision of its place in the market, to formulate the basis of their market strategy.
mechanism of strategic management in the most general terms, is:
1. Development of an overall development strategy and financial strategy as an integral part of it.
2. Translation of the strategic objectives in the operational decision-making performance.
3. Control of implementation brought performance.
4. monitoring the market situation and changes in the overall strategy.
The most common mechanism for implementing the organization's strategy is SSP - Balanced Scorecard, which includes a list of indicators that provide long-term stability.
use of non-financial indicators due to the need to manage these key strategic resources of the organization as a customer loyalty, goodwill and knowledge of employees.
In domestic practice as financial indicators of strategic planning should be used profitability determined by the specific activities of the organization.For example, the type of product profitability, return on the project, the amount of profit per employee, the amount of profit per square meter of floor space, the level of lending, etc.
In today's economic environment, no business entity can not operate solely at their own expense, therefore, it is necessary to use borrowed funds to finance activities, which are the state and municipal loans.In this regard, the task of financial management is to optimize the credit structure and financial resources, iedetermining the most appropriate ratio between own and borrowed funds.Optimality criterion can be a return on equity of the company, as an indicator fully reflects the objective of management.In practice, the greatest difficulty is the formation of credit resources, astheir use is associated with many difficulties: the choice of the source of funding, evaluation of profitability, reliability and others. The most widely used today
These types of loans, as the state and municipal loans.As part of the management structure of the financial resources, the definition of credit policy (how much credit is preferable to a state credit of the Russian Federation, or commercial), in determining management decisions about the direction and pace of enterprise development, the choice of business projects for implementation, managers of economic entities need information on limiting the volume of additionally attracteddebt financing.The general approach is to determine the maximum value of the loan payment, which by comparison with the basic terms and conditions of debt financing, you can determine the maximum amount of the loan, providing a painless follow her return, taking into account the current capabilities of the organization.State credit in contemporary Russia makes it possible to replenish its resources almost all participants of economic activity,
One solution to this problem can conduct a rapid assessment of the value of assets subject to release in accordance with the basic plans of the company.In addition, you need to carefully evaluate what kind of loan will be better for the company - a commercial, state, and municipal credit, or even different.It is necessary to assess the existing payment obligations and repayment of debt financing, to identify possible credit conditions and to determine the maximum possible loan payment, ie. E determine the credit limit.
When calculating the maximum amount of credit available for future painless return need to take into account the estimated volume of cash flows in the coming period, the impact of the cost of servicing the loan on the financial results, as well as a way to repay the loan.The basis of the calculations necessary to put the following aspects:
- what kind of credit you use in the company: State and municipal loans, or commercial;
- assessment of the balance of cash flows of the organization;
- calculation of the amount of interest for the loan throughout the whole period of credit use.
based method of repayment in the organization recommended the development of a calendar of payments, reflecting the movement of money.The choice of maturity affects the structure of payments and cash flows.Thus, when the globular method of repayment are paid only the interest on a monthly basis, the main debt is paid a lump sum at the end of the credit agreement.This rule does not depend on the state and municipal credit you use, or commercial, it also has a positive effect on cash flow.If the organization chooses the repayment of principal in equal parts, this will help minimize the costs of its services, but it leads to a reduction in the period of credit use.Neutral in terms of impact on the cash flows of a loan repayment annuitentnymi payments.However, this method increases the interest expense that should be considered when developing a strategy for the company.