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The Research on Problems and Measures of Strategic Financial Management of Medium and Small-sized Pirvate Enterprises

Author: ZhangXiaoLei
Tutor: ZongYi
School: Tianjin University of Commerce
Course: Business Administration
Keywords: Small and Medium-sized Private Enterprise Financial Strategy Management Investment and Financing Management Risk Control Countermeasure Research
CLC: F275
Type: Master's thesis
Year: 2013
Downloads: 180
Quote: 0
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Abstract


From the theory of modern enterprise management, enterprise financial management isthe core of enterprise management. Financial management in a business is not only affecting theenterprise resource allocation, but also playing an important role in the realization of corporateobjectives and the long-term development.In recent years, with the constant improvement of Chinese market economic system,small and medium-sized private enterprises, regardless of the number and the scale, have been arapid development and also become a important force to support Chinese economic growth,solve the employment problem, increase state revenues, develop high-tech, and maintainsociety and economy stability. However, because of the quality of business managers, enterprisemanagement level, the complex relationship between equity and blind expansion of the scale,small and medium-sized private enterprises face the risks increasing greatly in the developingprocess. According to the statistics, Chinese private enterprises have only a few years averagelife expectancy. It is a key factor that financial management behind the enterprise developmentfootsteps restricts the development of private enterprises. Therefore, this article specificallyselects Zhejiang YX Company which has local advantages in Zhejiang private enterprises as aresearch instance.The first three parts of this article is the theoretical part, which firstly puts forward thepurpose and significance of the topic for this paper, analyzes the treatise on financialmanagement and the strategic financial management discussed by domestic and foreignscholars, and proposes the research contents and methods of this article. Secondly, this articledefines the meaning of the small and medium-sized private enterprises, and also introduces thecharacteristics and the development process of the small and medium-sized private enterprisesin China, as well as the status and role in the development of national economy in China. Then,this article summarizes the financial management of small and medium-sized privateenterprises and its characteristics. Finally, this article elaborates the connotation and contents ofthe strategic financial management, and then researches the current problems of the enterprisefinancial management from a strategic point of view. At the same time, this article solves theproblems of the enterprise’s strategic cost management, strategic financing management andstrategic capital application management by using the strategic financial management ways.The fourth part of this article adopts the case study method, from the angle of the currentsituation of financial management for Zhejiang YX Inc., pointing out the problems of YX Inc.in financing means, investment channel, distribution and human resources management.However, the YX Inc. is just a microcosm of many small and medium-sized private enterprises.In addition, the financial strategy formulation is ivory-towered and not reasonable of YX Inc.which includes that its financial strategy is not scientific, and the meaning of financial strategyis not understood that is roughly considered as financial planning, and it also fails to set goalsfor the enterprise from the overall situation and long-term vision. At the same time, the YX Inc.ignores the environmental analysis, and is not aware of the environmental impact on thecompany’s financial strategy development. Through the investigation, the current financialmanagement problems of the YX Inc. mainly include the centralized financial management, the lack of professional financial personnel, the insufficient ability in financing, investingblindly, and the loss of measures in financial control.The fifth part of this article applies the strategic financial management to enterprisemanagement for the YX Inc., which is combining the enterprise financial management withenterprise development strategy. Therefore, YX Inc. can plan financial management by the viewof strategy and take enterprise strategy as the logical starting point to participate the formulationand implementation of corporate strategy, thus forming the strategic financial concepts andsystem. YX Inc. should strengthen investment management, improve the way of financing andattach great importance to the feasibility analysis of investment and the risk of investment.Through internal financing innovation, YX Inc. can establish an effective management system,which ensures that the enterprise can develop under the limited funds. On the choice ofenterprise financial management mechanism, YX Inc. should adopt the centralized managementstrategy, build scientific decision-making process and implement the budget managementsystem. All of which can effectively promote the enterprise financial management, monitor thecurrent financial management condition uniformly and guarantee a scientific and democraticdecision-making process to solve the problems of the current management confusion. YX Inc.also should set up a financial risk control mechanism, build the enterprise’s financial riskidentification mechanism, perfect the financial risk control mechanism and establish effectivefinancial risk management mechanism. Through the analysis and evaluation of the projects,enterprises can choose to abandon the project or change the plan to avoid financial risk if theenterprise finds out that the possible financial risk is higher. Finally, YX Inc. can expand thescale and the economic strength in order to improve the ability to resist financial risks throughthe accumulation of capital.Strategy is the concentrated reflection of enterprise management thought, and is also thefoundation of enterprise planning and scheming. As one of the troikas, financial businessoperation is the key of the enterprise strategic management. At any time, a strategic planningfor financial management is the condition for the growing enterprise advantage competition.Therefore, in terms of development, Chinese small and medium-sized private enterprises mustproceed from their own condition, improve enterprise financial management system with thestrategic financial management and acquire the advantage competition as well as makingprogress at the same time.

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CLC: > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management
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