Strategic Financial Management in Small and Medium-Sized Enterprises 战略财务管理的中小型企业翻译Word下载.docx
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Strategic Financial Management in Small and Medium-Sized Enterprises 战略财务管理的中小型企业翻译Word下载.docx
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ZongshengLiu
EconomicTheoryandManagement.
Abstract
Alongwiththedevelopmentofsocialeconomyandtheprogressofscienceandtechnology,Chineseenterprisesarebeinginastagefilledwithopportunitiesanddangers.Thispaperintroducestheconnotationandsignificanceofstrategicfinancialmanagement,elaboratestheproblemsinthefinancialstrategiesconductedbysmallandmedium-sizedenterprisestogetherwiththe causesandproposes somecountermeasuresfinally.
Keywords:
Smallandmedium-sizedenterprises,Strategicfinancialmanagement,Problems,Countermeasures
Introduction
Theuncertaintyofanenterprise’sfinancialenvironmentfillsitsfinancialactivitieswithrisks.Inadditiontoopportunities,quitealotofdangersarisefromtimetotimeinitsfinancialmanagement.Therefore,ithasbecomethekeytothesuccessofanenterprise’sfinancialmanagementwhetheritcankeeptrackofthetrendsofchangesandabsorbewhatisusefulwhilerejectingwhatisharmful.Strategicmanagementideasaresignificantinenterprises’financialmanagementsincewemustmakeeffortstoanalyzeandgraspthegeneralenvironmentanddevelopmenttendencyofanenterpriseandthereforetoimprovetheadaptability,changeabilityandapplicabilityoffinancialmanagementtouncertainenvironment.Currently,over10,000,000smallandmedium-sizedenterpriseshavepassedtheindustrialandcommercialregistration,takingup90%ofthetotalenterprisesinChina.Accordingly,theirstrategicfinancialmanagementisofparticularimportance,whichisalsothetopicofthispaper.
1.ConnotationandMainContentsofStrategicFinancialManagement
Strategicfinancialmanagement referstofinancialmanagementtheoriesaccordingtowhichfinancingshouldbeconductedinthemostproperway,thecollectedcapitalshouldbeutilizedandmanagedinthemosteffectivewayinenterprisesanddecisionsonthereinvestmentanddistributionofprofitsshouldbemademostreasonably.Accordingtoitsconnotation,wecansumupthethreemaincontentsofstrategicfinancialmanagement,includingfinancingstrategy,investmentstrategyandprofit-distributionstrategy.Detailsareasfollows:
Financingstrategy
Highlydevelopedmodernenterprisesarecharacterizedbysharpgrowthinsales.Whenfacedupwithsuchasituation,enterprisestendtohavegreatdemandsforcapitalsincestocksandreceivablesareincreasedaswell.Thegreaterthetensionofsalesgrowthis,thegreatercapitaldemandswillbe.Therefore,financingstrategyisofsignificanceinstrategicfinancialmanagement.Thefunctionsoffinancingstrategylieinclarifyingtheguidelinesforfinancing,layingdownfinancingobjectives,establishingtheoverallscale,channelsandmethodsoffinancing,arrangingstrategicschemesofcapitalstructureoptimization,layingdownrelevantcountermeasuresinordertoachievethefinancingobjectives,andfinallypredictingandcollectingtheamountofcapitaltheenterpriseneeds.
2.ProblemsinStrategicFinancialManagementofSmallandMedium-SizedEnterprisesinChina
Currently,somecommonproblemsinclude:
2.1LackinginScientificandStandardizedFinancialStrategies
Quiteafewenterprisesarepursuingonlyalargescale,orpurchasingalargeamountoflandwhileneglectingassetstructureallocation,orhavingnoreasonablearrangementforitscapital.Theyhavenofinancialstrategiesatall,nottomentiontheirimplementation.Asforsomeothers,theeffectoftheirstrategicfinancialmanagementisgreatlyaffectedduetotheirunscientificandirregularstrategies,whicharecharacterizedbythefollowingfeatures:
first,theirstrategicfinancialaimsdepartfromtheirenterprises’overallones;
second,financialstrategiesareregardedequaltofinancialplans,henceneglectingthecomprehensivenessoffinancialstrategies;
third,financialstrategiesarenotmadebasedontheirenterprises’long-termgoalsandthereforehavegreatrandomness.
2.2NeglectingStrategicEnvironmentAnalysisandHavingUnreasonableStrategicFinancialGoals
Strategicenvironmentanalysisisboththefoundationoffinancialstrategiesandtheguaranteeforitsimplementation.Itincludesinternalandexternalenvironmentanalysiswiththeformerbeingtheinternalfoundationandimplementationbasisfortheestablishmentoffinancialstrategies.Atpresent,quitealotofsmallandmediumenterpriseshaven’trealizedtheimportanceofstrategicenvironmentfortheestablishmentandimplementationoffinancialstrategiesandaccordinglyfailedtohaveproperanalysisontheirstrategicfinancialenvironmentespeciallyitsinternalenvironment.
Asaresult,theirunpracticalandunreasonablestrategieshaverestrictedtheeffectiveimplementationoftheirfinancialstrategies.
2.3Lesseningthe
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