Financial strategy- one of the main tools for managing the work of the enterprise. The financial strategy assumes that the enterprise needs to develop strategic, tactical and operational plans, since the system of market relations is inextricably linked with financial performance.
The financial strategy is an integral part of the enterprise development strategy, which means that it is consistent with its goals and objectives. The development of the financial strategy of the enterprise is predetermined by certain conditions. The main condition of the financial strategy is the speed of transformation of the macro-factors of the economic environment. There are also conditions that do not allow you to optimally manage the finances of an enterprise: the main macroeconomic indicators, the rate of technological growth, constant changes in the state of the financial and commodity markets, the imperfection and instability of the economic policy of the state and methods of regulating financial activities. The financial strategy is developed on the basis of all factors of the macro-environment of the economy in order to exclude a decrease in the profitability of the enterprise.
What are the types of financial strategies of an enterprise
The general financial strategy is a strategy that establishes the direction of the enterprise, its relationship with the budgets of various levels, the emergence and distribution of enterprise income, the need for financial resources, sources of formation of these resources, and much more.
An operational financial strategy is a strategy that involves the management of financial resources and their distribution in the near future, control over the use of enterprise funds, and the search for internal reserves. An operational financial strategy is developed for a quarter or a month. It predicts gross income and receipts of funds (mutual settlements with buyers, payments on credit transactions, cash receipts, profitable transactions with securities) and gross expenses (settlements with suppliers, remuneration of employees, settlements on obligations to banks and budgets). The operational financial strategy provides for all income and expenses of the enterprise for the planned period. The optimal ratio of revenue and expenditure suggests that they should be equal, or the revenue side is slightly larger than the expenditure. The operational financial strategy is part of the general financial strategy, which characterizes the general financial strategy in a certain time period in more detail.
The financial strategy for achieving private goals involves the definition of a strategy to ensure the achievement of the main strategic goal.
Goals and objectives of the financial strategy of the enterprise
Providing the enterprise with sufficient financial resources in sufficient quantities is the main goal of the financial strategy of the enterprise. Based on the goal, the financial strategy of the enterprise makes it possible to:
- identify financial resources and establish strategic management by them; identify the main areas of work and concentrate on their implementation, optimize the use of the enterprise's reserves; rank and gradually achieve the established tasks; establish the correspondence of the financial strategy to the economic situation and financial potential of the enterprise; carry out an effective analysis of the economic situation and the existing financial condition of the enterprise in a specific period of time; create and prepare the reserves of the enterprise; determine the economic and financial capabilities of the enterprise and its counterparties; identify the main competitors, plan measures to weaken the competing side in the market: show initiative financial activities to gain an advantage in the market.
In order to achieve the main goal of the financial strategy, the enterprise develops a general financial strategy, which defines the tasks of generating financial resources in areas of activity and performers.
Objectives of financial strategy
study of the state and conditions for the formation of financial resources in economic conditions activities; planning and selection of possible variations in the formation of financial resources of the enterprise and activities financial management as a result of unfavorable and inefficient activities of the enterprise; establishing financial relationships with suppliers and customers, budgets of various levels, banks and other financial counterparties; establishing reserves and attracting enterprise resources that will increase production capacity, use it efficiently, increase fixed and working capital, effective return on assets; mobilization of financial resources to ensure production and economic work; ensuring a positive effect from the use of funds released from the turnover of the enterprise for the purpose of maximum benefit; analysis of the financial activities of competitors, their economic and financial potential, development and application of measures to establish the financial stability of the enterprise; preparation measures to overcome unfavorable situations and the crisis of the enterprise; determination of the methodology for managing an enterprise in situations of unsatisfactory financial condition; the use of all capabilities of the company's employees to overcome the crisis consequences.Elena Buklova,
General Director City Courier Service, Moscow
For Urban courier service financial strategy is a clear understanding by the shareholders of the company of the development plan, recorded in the form of a document. The plan contains the following sections:
But such a document did not appear immediately. Formalization took place six years after the creation of the company, when it was restructured. At the dawn of business development, no one thought about strategies and marketing plans. We all learned along the way. But to be successful tomorrow, you need to plan your activities today! That is why a strategy is needed, that is, a set of measures that covers the current work of the company and ensures its future development.
What are the principles of the financial strategy of the enterprise
When developing a financial strategy, the risks of non-payment, inflationary processes and other circumstances beyond the control of the enterprise are taken into account. It can be concluded that the financial strategy is developed in order to ensure the effective operation of the enterprise with adjustments in case of any changes.
Principles of the financial strategy of the enterprise
Current and prospective financial planning, which allows you to set planned indicators for cash receipts and directions for their use; centralization of financial resources, establishing their flexibility, focusing on the main areas of production and economic activity;creation financial sources, which will allow maintaining a stable financial position in the opportunistic market; full closing of financial obligations to counterparties; implementation of accounting, financial policy, as well as the depreciation policy of the enterprise; the creation and maintenance of accounting for the finances of the enterprise and certain types activities in accordance with established standards; preparation of financial statements of the enterprise and certain types of activities in accordance with applicable rules and regulations in compliance with the requirements of standards; financial analysis of the activities of the enterprise and certain types of activities (economic and geographical areas of activity and others); financial control over the work of the enterprise and individual activities.
What tools and methods to use in developing the financial strategy of an enterprise
Financial strategy tools
Methods of financial strategy
The application of certain methods and tools of financial strategy depends on financial position enterprises, as well as the socio-economic and political situation in the country.
Development of the financial strategy of the enterprise: stages of the process
Stage 1. Analysis of the financial condition of the enterprise. Financial condition is the availability of financial sources and reserves that allow the company to carry out activities at its own expense. The enterprise has a sufficient amount of financial resources, effectively uses them in its activities, ensures normal relationships with partners, has a satisfactory payment balance and financially sustainable.
An analysis of the financial condition of an enterprise involves an analysis of the balance sheet and income statement, which are analyzed over past periods in order to determine trends in its activities and main financial indicators.
Analysis of the financial condition of the enterprise has the following stages:
Stage 2. Determination of the period for which the financial strategy of the enterprise is formed. The goals and objectives of the financial strategy, as well as the calculation of financial indicators, depend on the period for which the financial strategy is established. The long-term finance strategy determines gross income and expenses, sources of income generation, and their needs. The short-term financial strategy is part of the long-term one, which plans financial performance in more detail and determines the current financial planning of resources for the near future. Long-term and medium-term financial plans are developed for 3-5 years. They form general financial indicators, and short-term financial plans are developed in detail for one year.
Stage 3. Definition of the purposes of financial activity of the enterprise. The financial strategy is part of the functional strategy of the enterprise, so it is included in the structure of its overall goals. The main financial goal of the company is to increase the market value, taking into account the maximum reduction of risks. This goal can be represented in relative and absolute terms. This goal is achieved if the enterprise has the necessary amount of resources, profitable and balanced equity capital, borrowed capital meets the standards.
The subgoals of finance are also planned:
Each goal is modified into a specific numerical and percentage indicator:
Stage 4. Develop an action plan to achieve these goals. The management of the enterprise controls the current position of the enterprise and corrects it in accordance with the objectives of the financial strategy. In order to control the implementation of the main strategic goals, these goals are broken down into strategic tasks that must be implemented in a specific period of time. Also, financial goals should be grouped in areas that make up the unified financial policy of the enterprise.
Stage 5. Development of financial policy on certain aspects of financial activity. The difference between the financial policy of the enterprise and the financial strategy is that the financial policy determines the aggregated indicators and directions of the enterprise. The financial policy regulates the optimal management of the enterprise and ensures the achievement of its strategic goals.
Stage 6. The development of a system of organizational and economic measures to ensure the implementation of the financial strategy involves the creation of various types of “responsibility centers” at the enterprise; establishing the rights, duties and responsibilities of management for the results of financial activities; development of incentives for employees for effective work and increase in income of the enterprise, etc.
Stage 7. Evaluation of the effectiveness of the developed financial strategy is carried out after all stages of the financial strategy of the enterprise.
3 Important Points for Developing a Strategy
Alena Fomina,
Head of "Strategic Management" BDO Unicon Company, Moscow
The first thing to do when developing a strategy is to define goals and objectives. Why does a company need a strategy? Who is on the development team? What does each participant in the process expect from the strategy?
The second is to identify technologies, that is, to clearly understand what methods should be used at each stage of strategy development: choose diagnostic methods, create an algorithm for constructing scenario models, a format for conducting strategic sessions, etc.
Next - form working group, determine the responsibility centers and control centers for the development and implementation of the strategy, as well as establish how (in what format) management will receive and evaluate the results of the strategy development project.
Development of a financial strategy by example
We can consider the formation of a financial strategy as an example, in which it is necessary to establish the direction of tactical money management. In this case, the manager will indirectly influence the indicators of expenses and income, but will strengthen control over the movement of funds and manage the use of additional credit sources, etc. It is necessary to determine: can the financial manager influence the cost part of the balance sheet of the enterprise, and how? You can calculate limits on materials, labor rates, electricity consumption, and more. Of course, the financial manager will not check the work of an employee who, for example, cuts a sheet or spends resin, will not take readings from electricity meters, and much more. But a financial manager can rationally distribute the use of financial resources, encourage employees to reduce costs by creating motivation methods. You can also determine the main directions for the use of financial resources and focus on their efficient use. Therefore, one way or another, the management of the capital of the enterprise affects the indicators of income and expenses.
You can ask the question: how to manage capital without taking into account indicators of income and expenses? In this case, the main goal of the financial manager will be to achieve such a level of return on investment, shareholder capital, working capital, which will allow you to get the maximum profit. To achieve this goal, the financial manager needs to develop a financial strategic plan within the overall strategy of the enterprise. We can consider, using the example of the industrial holding Concern High-Voltage Union, the development of a financial strategy, the directions of which are very similar to any kind of economic activity enterprises.
The main directions of the financial strategy. To begin with, it is necessary to select and establish the most important factors of capital management - the attraction of resources and the direction of their use. It is necessary to analyze those areas of activity of the enterprise, which the financial manager can influence by the performance of his direct duties. Further, the main factors are detailed into smaller ones in accordance with the directions of their use (example in the table). Then small directions are even more signed for exact parameters. The example shows a detailed description of the financial strategy.
Creation of a strategic matrix. First you need to establish a goal, the basic principles for realizing this goal. Then the financial strategy is presented in the form of a matrix, where the elements of decomposition are indicated vertically, and the principles and ideology, the state at the date, smaller goals, the main directions of management, tools and methods of management, methods of leadership and management are indicated horizontally. structural units, i.e. in matrix form, it is possible to describe all areas of work of a financial manager in developing a financial strategy.
So, to implement the strategy of managing the structure of working capital, one can define the following strategic goal: to achieve an effective investment of capital in current assets to establish the optimal financial position of the enterprise.
The most important word is “optimal”, because major mistake entrepreneurial activity is the freezing in stocks of the financial resources of the enterprise. In such situations, large-scale or small enterprises do not change the cost structure when changing the nomenclature. This means that it is necessary to set a limit on the remaining products in stocks and exercise control over their level. To do this, a financial strategy is developed taking into account the timing of release, the technological volume of the batch, the terms of contracts, the terms of payment, customs clearance and filling out declarations, efficient loading of vehicles, and more.
Concern High-Voltage Union carries out its production activities under the order. In this case, a different approach is required. The concern produces wide range of high-voltage and switching equipment. The main types of products are vacuum circuit breakers, integrated switchgears (KRU), transformer substations, generator circuit breakers and other equipment. Vacuum and generator circuit breakers are mono-products, while switchgear and substations are custom-designed and designed by engineers for each order separately. Therefore, for the concern, the development of the goal of the financial strategy involves the definition of financial indicators that can bring the financial activity of the enterprise closer to the optimal level of reserves.
The main principles of the concern in this case are: the greatest increase in the rate of return, the maximum reduction in liquidity and commercial risks.
The object of management is working capital, which includes such indicators as finished products, cash, raw materials and materials, receivables and payables. These indicators are considered in correlation with the sources.
Then the financial strategy can be represented as a matrix with decomposition indicators indicated vertically:
Management strategy for working capital and its financing reserves; strategy for managing the structure of industrial working capital; strategy for managing the ratio of non-working capital to working capital.
With the help of these indicators, you can set both low-hierarchy sections of movement and digitized criteria. For example, the main target indicator is the ratio of the ratio of non-working capital to working capital.
The following indicators are indicated horizontally in the matrix:
At the intersection of the rows and columns of the matrix:
Under the column “Basic principles and ideology of the strategy” - a description of the idea of leadership for a specific goal and evaluation criteria; under the column “Status as of the date” there are links to documents containing an information field for a starting point. For example, by clicking on the link at the intersection of the line “Strategy for managing the structure of industrial working capital” and the column “State at the date”, you can open a document that shows the state of the enterprise at the starting point and its development trends, trends and targets for a separate parameter of the working capital structure; the column “Basic criteria for management, tools, methods” indicates the enterprise standards, which consider the basic concepts, regulations, which characterize business processes, calculation methods, etc.; the column “Management method - the process is involved” - the name of the business process in accordance with the documents of the quality management system and methods of managing it; in the column “structural units involved” - departments of the financial and economic service, whose responsibility involves managing business processes.
It can be concluded that in the form of a matrix, all directions of the financial strategy are described. Due to the fact that it is impossible to give an example of the matrix itself, we will characterize some areas of the financial strategy.
Strategy for attracting financial resources. The main purpose of attracting resources is to ensure the creditworthiness and investment attractiveness of the enterprise.
The main criterion for fulfilling this goal is the optimal ratio of debt to equity capital.
Objects of management: borrowed capital (acquired advances, invoices for payment, obligations received for operational work, taxes on payment, credit obligations, accounts payable of enterprises).
The main tools and methodology are established by the company's standards (Economic and Financial Management, Cash Flow Regulations, Credit Policy, etc.).
Management method: centralized influence on the size and composition of current working capital, coordination through the redistribution of financial sources, setting the allowable amount of credit obligations.
Officials and various divisions: the general and financial directors of the holding, the head production department, financial and economic management, treasury.
Cash and cash equivalents management strategy. The main goal of cash management is to effectively allocate these funds for the timely fulfillment of the terms of the contract, ensuring investment and innovation activities. Main criteria: balance of liquidity and financial independence indicators.
Management objects: cash and non-cash funds and their varieties (securities, etc.).
The main principles and ideology of management: budgeting - construction of BDDS in accordance with the BDR, plan-fact analysis in the context of the day, month, quarter.
Main tools and methods: established by the company's standards and associated with the attraction of financial resources.
Method of management: centralized influence through regulation of payments, determination of preferential directions for spending financial resources and their use, direct management of urgent payments and payments over the limit.
Officials and various departments: financial and economic department, budget department, treasury, financial director of the holding.
In the same way, all directions of the financial strategy are signed. But this is not a strict list, you can change something, add, delete, everything is individual. It is necessary to implement the financial strategy from a non-standard point of view and determine the main directions and goals.
Evaluation of the developed financial strategy
It is necessary to conduct an analysis in order to determine whether the developed financial strategy can lead to the financial performance of the enterprise and to the established goals of the financial strategy in a constantly changing external financial environment. Such an analytical process is carried out by financial managers or experts invited for this purpose. The evaluation of the financial strategy involves the establishment of the following parameters:
After the effectiveness of the financial strategy of the enterprise has been evaluated and it has been established that it will have positive results and correspond to the financial philosophy of the enterprise, it can be implemented.
Stages of financial strategy implementation
1. Ensuring strategic changes in the financial activities of the enterprise. Strategic changes - a process aimed at changing all types of activities of the enterprise to a level that will ensure the full implementation of the developed financial strategy of the enterprise.
The coverage of strategic changes in the financial activity of an enterprise is influenced by the existing level of management of this activity, as well as financial relationships with counterparties, the nature of sources, the level information base, the degree of innovativeness of financial transactions, the financial instruments used, the level of organizational culture of financial workers and other intra-organizational parameters. In accordance with the above, it is possible to characterize the strategic changes in the financial activities of the enterprise as follows:
To implement strategic changes in the financial activities of an enterprise, it is necessary to transform the following financial management systems: information system, organizational culture, organizational structure of management, personnel system, system of incentives for employees of the enterprise, system of innovations.
2. Diagnostics of the nature of changes in the conditions of the external financial environment at each stage of the implementation of the financial strategy of the enterprise. Constant analysis of the external financial environment will allow the company to take timely effective solutions and implement a set of measures that will contribute to the financial stability of the enterprise and its economic development. The theory of strategic management establishes 4 main options for changing the external financial environment in which the financial strategy of the enterprise is implemented:
Relative constancy of the conditions of the external financial environment; predictable changes in the conditions of the external financial environment; unpredictable changes in the conditions of the external financial environment, which are determined at the initial stage of their occurrence; unpredictable unexpected changes in the conditions of the external financial environment.
In order to determine changes in the conditions of the external financial environment, monitoring of the financial market is used, which shows the impact of various factors that significantly affect the financial condition of the enterprise and its development, as well as changes in interest on loans, the exchange rate, the rate of return on investments, the level of insurance tariffs and much more.
Implementation of a financial strategy and implementation - what's the difference
Efim Pykov,
Managing Partner Consulting company Formula Development, Moscow
The financial strategy of an enterprise, like any other business tool, is effective only when it is used in work. Any, even the most remarkable and verified strategy, if it gathers dust in a drawer or hangs in a gilded frame, costs absolutely nothing (except for the cost of the frame). The strategy must work. Every day and every hour. But it needs to be clarified: there is often some confusion between understanding strategy implementation and strategy implementation. These concepts must be clearly separated.
The implementation of the strategy is the achievement of the goals that are laid down in the strategy. It is possible to assess the degree of implementation of the strategy over time by comparing the quantitative parameters of the goals recorded in the strategy and the parameters that the company achieves.
Strategy implementation is the process of implementing the strategic operations plan. Evaluation of performance occurs upon the implementation of all the points of the plan with due quality.
Without the implementation of the strategy in the daily work of the company, the implementation of the strategy, that is, the achievement of the set goals, is hardly possible.
Analysis of financial strategy
A measure of the effectiveness of a financial strategy can be applied “ Golden Rule economy”:
Tp > Tv > Ta > 100, where
If, as a result of the development of financial policy in the main areas of the financial strategy of the enterprise, this ratio does not correspond to that recommended in this model, the strategy or part of it must be changed so that it fulfills the main goal - ensuring maximum efficiency of the enterprise.
Most modern large enterprises pays attention to the formation of financial strategy. Such activities are carried out at the level senior management companies, however, they can at the same time be sufficiently detailed and involve the involvement of managers in local business processes. What is the specificity of building financial strategies in enterprises? What are the criteria for the effectiveness of their development?
Definition of financial strategy
What is a financial strategy? This term is commonly understood as a plan developed by some business entity - for example, a commercial firm - which is associated with the definition effective ways generate revenue and reduce company costs.
Purpose of financial strategy
The financial strategy is designed to help resolve issues related to the self-determination of the organization as an independent subject of commercial activities, obtaining the necessary funds for development, and optimizing the business model. Working in the appropriate direction, the management of the organization reveals the patterns of economic development of the company, develops methods for adapting the organization to the impact of certain market, social or political factors.
The financial strategy is most often associated with the optimization of fixed assets of the company, the distribution of profits, the implementation of calculations, tax, investment policy, the search for effective pricing mechanisms. Management activities in these areas can be carried out both in the internal space of the enterprise and in work in territories outside the corporation - for example, it can be negotiations with investors, large clients, government agencies.
What does the implementation of the financial strategy achieve?
The development of the financial strategy of the enterprise and its successful implementation can gain significant advantages in the field of doing business. Among these:
- formation of an effective system for managing the company's cash resources;
- identification of key factors affecting the profitability of business models with the subsequent focus of activities on working with them;
- formation of a balanced, consistent, rational approach to setting goals and solving them;
- identification of criteria for balancing the current business model, as well as potential sources of further growth of the company;
- building transparent and objective instruments of control over economic efficiency enterprises;
- identification of internal and external factors that determine the company's profitability;
- identifying the organization's key competitive advantages relative to market players and ensuring their dynamic engagement.
Building a financial strategy is the most important activity in commercial enterprise. These activities allow for a comprehensive analysis of the company's capabilities, its growth potential and increasing competitiveness in a particular business segment.
Elements of financial strategy
The financial strategy of the enterprise consists of the following key elements:
- planning (which can be classified into various categories- for example, current and prospective activities);
- concentration of financial resources and formation of the necessary investment base;
- formation of reserves that may be needed to maintain the sustainability of certain areas of the business in the event negative impact certain factors;
- interaction with partners - both in terms of current communications related to settlements and mutual fulfillment of obligations, and in the direction of finding new counterparties or, for example, investors;
- development of the company's accounting policy;
- standardization of the company's activities at the level of certain business processes;
- implementation of reporting procedures;
- selection of new personnel;
- advanced training of staff members;
- analysis of financial activity;
- control over the implementation of the points of the developed strategy.
The work of company managers in the areas under consideration can be associated both with the search for objective patterns and factors influencing the economic development of the company, and with the discovery of those that have subjective characteristics. That is, the figures that the management received when carrying out planning may not be entirely relevant - for example, due to the political factor.
The development of a financial strategy can be carried out on the high level- but in the presence of tension in the international arena, the enterprise may have difficulties with the implementation of the planned tasks.
Strategic directions for the development of the company
It will be useful to consider what key strategic directions in the development of the company are identified by modern researchers. Among these:
- tax optimization policy;
- study of opportunities for the formation of the most adequate prices;
- investment policy.
The first area of activity will be primarily related to the study of the legal framework at the level of federal, regional or municipal legislation. With regard to pricing policy, the definition of its key areas is likely to predetermine the need for managers to focus on the study of external market factors. The investment policy, in turn, will be based to a greater extent on the study of internal business processes built at the enterprise.
The goals of building a financial strategy
Let us now consider what the goals of a company's financial strategy might be. Most often they are commercial in nature. That is, they will be associated with the desire of enterprise managers to extract as much profit as possible and reduce costs - as we said above. However, the financial strategy of the organization can also reflect the preferences of the owners of the company in the field of solving not only commercial, but also social or political problems.
In the first case, the work of the owners and managers of the enterprise will probably involve the creation of as many jobs as possible with high salary. As for the solution of political problems, the priorities in the financial strategy of the company can be concentrated in this case in the direction of either the formation of a city-forming enterprise, or the economic development of the region. As a result, the owners and managers of the company can count on certain preferences in elections, the implementation of "lobby" and other activities in the field of municipal, regional policy, and in some cases - at the level of national processes.
Varieties of financial strategy
We will study in what varieties the financial strategy of an enterprise can be presented. Modern economists subdivide the activities under consideration into:
- general;
- operational;
- tactical.
Let's study them in more detail.
General strategy
As for the first type of financial strategy, it predetermines the principles on which the development of the enterprise will be based. These can be based on the formation of priorities in the production of a particular product, the use of a specific technology, the accentuated promotion of the company in a particular market.
Operational strategy
Financial strategy, classified as operational, will be associated with the definition of tools through which management should lead the enterprise to achieve those goals that are defined at the general level. For example, if the development of markets located in Southeast Asia is chosen as a key principle for the development of a company, then operational tasks may be related to the purchase of equipment that will make production competitive with suppliers from the corresponding region.
The operational financial strategy of the company, as a rule, is associated with the implementation of control over the current expenditure of financial resources that the company has. So, management can solve problems related to: accounting for gross income, settlements with suppliers, generating profit through the issuance of securities, accounting for gross expenses, paying salaries to employees, paying taxes to the budget. If the modernization of production, which allowed the enterprise to reach the required level of competitiveness relative to Asian competitors, is achieved, then the task of management is to determine how compatible the relevant innovations are with the current business model of the company, its obligations to counterparties and the state.
The tactical aspect of the strategy
The tactical part of the financial strategy involves the localization of tasks at the level of specific business processes. Such activities may be associated with the purchase of new funds for individual production lines or, for example, the acquisition of Supplies. Financial control over the calculations accompanying the solution of the relevant tasks can be carried out with a high frequency or in relation to local operations - for example, those related to the transfer of funds to an equipment supplier under a current contract.
Criteria for the effectiveness of the financial strategy of the enterprise
Based on what criteria should the formation of the financial strategy of the company, as well as its subsequent implementation, be carried out?
Regarding the first stage of management activities, the following set of conditions can be distinguished that increase the likelihood of building effective approaches to business development:
- required detail production processes(the key factor of competitiveness may be a local area of business, which, it would seem, cannot be decisive in terms of the profitability of the enterprise);
- adequate assessment of financial factors (inflated revenue expectations can lead to failure in the implementation investment plans, underestimated - to insufficiently dynamic growth of the company, as a result - to a decrease in market share);
- due attention to external factors (as we noted above, even the most effective business model can be useless if its implementation is hindered by political events).
Regarding the stage of implementation of the financial strategy, researchers recommend paying attention to the following criteria for its effectiveness:
- ensuring a stable institutional and personnel basis for the company's activities at various stages of fulfilling the points of the developed plans (the idea of managers may turn out to be excellent, but insufficiently high qualification of personnel or imperfect mechanisms of internal corporate communications may interfere with its implementation);
- providing effective mechanisms for control over the solution of tasks;
- timely analytics of the results achieved (which can help identify any shortcomings of the current strategy or, conversely, its strongest points that can be subsequently used to increase the competitiveness of the business).
So, we have considered how the financial strategy of an enterprise can be built. Owners and managers of the company in the course of its implementation are faced with the need to solve difficult problems, but such activities are worth it, because they predetermine the level of competitiveness of the business.
At the same time, the financial management strategy correlates with another category of management - tactics. Let's study this aspect in more detail.
Financial tactics
Financial strategy and financial tactics are closely related phenomena. There is a point of view according to which the second element is an integral part of the first, so it is not entirely correct to consider them in different contexts. We considered a similar scenario above - having studied one of the approaches to the classification of strategies, according to which it is supposed to single out its tactical variety.
Financial tactics: practical examples
There is another thesis according to which the financial strategy and financial tactics of the company's management can be correlated at the level of methods, but involve the solution of different problems. For example, the management of an enterprise may decide to change the bank serving the organization's cash settlement services. From the point of view of the financial strategy, no significant tasks are solved in this case. However, the management is apparently taking a tactical move, possibly associated with signing a contract with a more stable bank.
Another example of an appropriate type of decision: adjusting the list of powers financial director- as an option - in favor of the transfer of part of those to the general. Again, from a strategy point of view, the decision is negligible. But in the aspect of tactics, it can be extremely important due to the fact that CEO Having passed specialized training courses, he will acquire a greater amount of competencies in terms of some economic issues, and therefore will cope with their solution better than a manager of a narrower profile.
The financing strategy is based on the choice of sources (internal and external) of own and borrowed funds for business development. For example, if start-up companies (startups) attract third-party investors, the financing strategy is built on borrowed funds from external sources.
Varieties of financing strategies
Depending on the current position and the company's development strategy in the market, one of four financing strategies is applied.- Rapid growth strategy. The company's free funds are invested in current assets: more raw materials are purchased, the main production facilities are actively updated and repaired. Variable costs (additional transportation costs, investment in staff training, overtime pay) are financed through short-term loans. Financing under the rapid growth strategy is relevant for conquering a new market segment, expanding the product range.
- Strategy domestic financing("ideal"). Operating activities and current liabilities of the company are covered exclusively by borrowed funds. Such a strategy increases the amount of free funds, allows you to actively raise salaries for staff, invest in research and development. However, in the long run, the model is very risky: lenders can demand immediate repayment of borrowed funds, as well as suddenly increase the interest rate.
- Equilibrium strategy. Fixed assets of the company (production facilities, technologies) and fixed costs production is covered by long-term loans with a low interest rate. working capital financed from the free finances of the company, as well as through short-term loans. This model is universal, protects owners from sudden payments on expensive loans, and allows increasing the amount of free funds on the company's accounts.
- traditional strategy. All expenses of the company are covered by long-term loans issued to owners at low interest rates. This model is suitable for young companies entering the market with little capital and no established client base. Traditional financing frees up the company's own funds to expand the business, but the amount of capital must be sufficient to cover the loans.
Factors influencing the choice of financing strategy
The enterprise development model and the distribution of financial resources depend on the specifics of the enterprise and market niche.- The duration of the operating cycle and the stability of financial flows. Manufacturing companies, consistently selling large volumes finished products may actively use expensive short-term loans. Costs are covered by profits, own funds remain free.
- Structure and profitability of the company's assets. A service company may own profitable assets ( commercial real estate, funds in bank accounts, intellectual property). Manufacturing plants own fixed assets (machines, workshops, technologies, raw materials and materials), which are more difficult to sell in financial resources.
- The magnitude of the tax burden and the level of risks in the industry. Depending on the market niche and production characteristics, the company pays additional taxes (for example, petrochemical production) or receives benefits (for example, builders of infrastructure and social facilities). Innovative companies traditionally operate with a higher level of risk than manufacturing and trading companies.
- The position of the company in the market and the dynamics of demand in the industry. Manufacturers of unique products that are in stable demand are actively raising borrowed funds with minimal business risks.
It involves the formation and use of financial resources to implement the basic strategy of the enterprise and the corresponding courses of action. It allows the economic services of the enterprise to create and change financial resources and determine their optimal use to achieve the goals of the functioning and development of the enterprise.
The importance of this functional strategy lies in the fact that it is in finance that all types of activities are reflected through the system of economic indicators, there is a balancing of functional tasks and their subordination to the achievement of the main goals of the enterprise. On the other hand, finance is a source, a starting point for developing other functional strategies, since financial resources often act as one of the most important restrictions on the volume and direction of an enterprise.
The process of financial management at an enterprise as a fairly dynamic process is very sensitive to changes in the external economic and sociopolitical environment (cycles business activity economy, inflation rates, government economic policy, political environment, etc.). The process of substantiating and making decisions in the field of finance, including the structure and directions of business activities, debt, dividends and assets, is a process of strategic management, since it primarily concerns the long-term prospects for the development of the enterprise, and not operational actions. It is in connection with this that the heads of economic services of enterprises should be in alliance with the top management of enterprises and participate directly in the development of a common (basic) strategy for the enterprise.
In a market economy, the development of a financial strategy is preceded by a detailed economic functioning of the enterprise, including:
Analysis of economic activity of the enterprise;
Determination of the financial capabilities of the enterprise.
An analysis of the economic activity of an enterprise makes it possible to evaluate the effectiveness of its activities, reveal bottlenecks and production reserves, determine factors for reducing the cost of production, increasing profitability, ways to increase labor productivity, the nature of loading and the efficiency of using the main production assets.
From the point of view of substantiating and developing the financial strategy of an enterprise, it is advisable to carry out an analysis of economic activity in the following main areas:
Assessment of the company's ability to pay the current short-term obligations;
Assessment of the level (limit) to which the enterprise can be financed by borrowed funds;
Measuring the efficiency of the enterprise's use of the entire complex of its own resources;
Evaluation of the effectiveness of enterprise management, including the profitability of its activities.
Determining the financial capabilities of an enterprise is due to an assessment of its present and future potential in fund formation, the size and sources of implementation of the basic strategy for the development of the enterprise. Therefore, financial capabilities not only determine the readiness of an enterprise for strategic actions, but also largely determine the nature of these actions. For example, with a growth strategy, financial opportunities such as the amount of financial resources in rubles and hard currency, depreciation of equipment, and a number of others determine the choice of an alternative to a growth strategy: the development of new production, diversification, intercompany cooperation, or foreign economic activity.
The main components of the financial strategy of the enterprise.
1. The structure of entrepreneurship. In accordance with the strategic goals, which are expressed in specific numerical indicators, and the developed basic strategy for the development of the enterprise, its economic services develop the basic principles of the financial strategy:
The main directions of profit distribution;
Ensuring the liquidity of the enterprise.
Increasing the assets of the enterprise, including financial resources and rationalizing their structure;
Particular attention is paid to identifying sources of funding, including borrowing opportunities (for example, a specific borrowing policy may be justified).
2. Structure of accumulation and consumption. This component of the financial strategy consists in optimizing the ratio between consumption and accumulation funds, which ensures the implementation of the basic strategy.
3. Debt strategy. It defines the main elements credit plan: the source of the loan, the amount of the loan and the schedule for its return.
The importance of this component of the financial strategy of the enterprise is due to the fact that the creditworthiness of the enterprise is one of the main properties of a stable existence in the market. It is for this reason that the ways and methods of obtaining loans and repaying them are highlighted in a special debt strategy.
4. Strategy for financing functional strategies and major programs. This component of the financial strategy involves such management of the financing of functional strategies and major programs that does not fit into the annual period. Most often, this strategy includes decisions on capital investments:
for social programs;
To improve and restore existing assets (main production assets);
For new construction, acquisition and absorption, R&D, etc.
As a result of the implementation of all components of the financial strategy of the enterprise, a long-term financial plan is developed, which is considered as a synthesizing document that balances all functional strategies, major programs and ensures the achievement of previously developed strategic goals for the development of the enterprise.
In the process of developing a financial strategy for an enterprise, it is necessary to be guided by three main principles:
Simplicity;
permanence;
Security.
The simplicity of the financial strategy of the enterprise suggests that it should be elementary in its construction for perception by all employees of the enterprise, regardless of which department they work in. This allows us to hope that the actions of all employees of the enterprise will be aimed at achieving the common goals of its development.
The constancy of the financial strategy of the enterprise is due to the fact that in the event of fundamental changes in the implementation process, other functional divisions of the enterprise will not be able to immediately reorganize, which will lead to an "imbalance" in the functioning of the enterprise.
The security of the financial strategy of an enterprise suggests that it is designed with a certain "margin of safety", taking into account possible perturbations of the external environment. The presence of financial reserves, a clear coordination of functional strategies means that the financial strategy is protected from the point of view of the implementation of strategic development goals.
The successful implementation of a financial strategy is largely determined by the formation and development of a financial planning system, which includes short-, medium- and long-term planning.
Long-term financial should include planning of the capital structure and its connectedness. It is closely related to investment planning. The main task of long-term financial planning is to provide the enterprise with a long-term structural balance. This makes it possible to take timely measures in the event of a certain imbalance.
The purpose of structural liquidity support is to provide the enterprise with the opportunity to finance its activities by attracting its own, borrowed capital. Potential creditors of the enterprise evaluate it on the basis of the use of special financial indicators, such as, for example, the liquidity ratio.
As part of long-term financial planning, a certain balance of plans should be laid down. The financial system of balances for the future is based on investment business projects, calculated taking into account discounted cash flows advanced from own and borrowed capitalized resources. Planning the balance sheet structure allows you to assess the financial capabilities of the enterprise and at an early stage to predict the potential willingness of creditors to provide borrowed capital.
At the same time, the planning of the balance sheet structure cannot reflect whether long-term receipts and payments in the sphere of investment turnover and long-term financing are in a state of equilibrium for the same planning period. For these purposes, long-term balance sheet financing must be supplemented with generalized (integrated) financial planning focused on payment flows.
Long-term financial planning should be supplemented by medium-term one, which provides for specification of planned payments and receipts, their volumes and terms.
Approximate structure of the medium-term financial plan is given in table. 6.1.
The medium-term financial plan should have a rolling character, which focuses on the main streams of payments in the enterprise. This plan should serve as a basis for providing current liquidity and complement the long-term financial plan.
Table 6.1 Structure of the medium-term financial plan
| No. p / p | Section name | |
| turnover | This section reflects the main financial flow of the enterprise, which provides current income from turnover, corresponding to its current activities. |
|
| Current payments external to the enterprise | This section reflects the payments of the enterprise that are not directly related to its core business. |
|
| Investment activities | This section of the plan reflects receipts and payments from the long-term investment activities of the enterprise |
|
| Payments related to debt financing | In this section, all receipts and payments are planned - the repayment of debts and the receipt of new loans that should occur during the planning period |
|
| Payments from non-core activities | In this section, receipts and payments from non-core activities for the enterprise that affect the results of its functioning are planned. |
|
| Tax payments | This section reflects planned tax payments |
|
| Other payments | In this section, mainly dividend payments are planned for joint-stock companies, as well as possible income from an increase in equity capital |
In addition, the medium-term financial plan should provide an opportunity for timely recognition of either a shortage or an excess of financial resources in the enterprise.
The most detailed financial planning is carried out within the short-term financial plan. This plan should reflect the financial reserves that the enterprise may have. Such reserves may include:
Liquid funds that exceed a predetermined amount;
The mobilized property of the enterprise (for example, funds from the sale financial assets);
Expansion of credit lines;
Short-term expansion of the enterprise's own capital base.
Zakharenko V.A.
graduate group MBA CIO-13
School of IT Management
Academy of National Economy under the Government of the Russian Federation
1. Introduction
Financial crisis is a deep disorder financial system country, accompanied by inflation, defaults, instability of exchange rates and securities rates.
The global financial crisis, hitting primarily the banking sector, forced many companies to radically reconsider their behavior in the market. In particular, the financial crisis forced them to move to a significant reduction in costs, including in the IT area.
In the context of the financial crisis, customer companies pay close attention to the effectiveness of investments they make in IT projects. The time of "image" projects is over, and new systems are being implemented based on a rigorous analysis of economic benefits. Projects related to centralization and standardization have become more priority information systems which reduces maintenance costs.
Consequently, in the context of the financial crisis, the strategy of an IT service company differs significantly from the strategy of an IT consulting company precisely because, first of all, customers reduce investment costs for new or just started IT projects. But no customer can afford to liquidate an already existing information system or IT infrastructure. We can talk about optimizing the costs of their maintenance and development, or a phased transition to less costly solutions. In any case, the services of IT service companies are not becoming less in demand, rather the opposite.
Let's try using the example of a certain service IT company (for example, KKK) to show one of the possible development strategies based on an analysis of the market situation and existing competitive advantages in a financial crisis.
2. Fundamentals of strategic management
2.1. The evolution of the control system
| Stages | Stage characteristics |
| 1. Short term planning (60s) |
|
| 2. Long term planning (70s) |
|
| 3. Strategic planning (80s) |
|
| 4. Strategic management (90s) |
|
Modern types of management, which more and more firms adhere to, are strategic planning and strategic management in real time. These types of management can be carried out separately from each other, but are more often used in parallel to solve both planned and unforeseen tasks.
2.2. Strategic Analysis
2.2.1. ANALYSIS OF EXTERNAL FACTORS
By studying the external environment, managers focus on identifying the threats and opportunities that are fraught with external environment. Quite popular at the same time is the SWOT analysis method, which is described in detail in the literature on strategic management.
| STRENGTHS OF THE BUSINESS | WEAKNESSES OF THE BUSINESS | |
| BUSINESS OPPORTUNITIES | WHAT BUSINESS STRENGTHS WILL HELP REALIZE THESE OPPORTUNITIES | HOW TO OVERCOME BUSINESS WEAKNESSES THROUGH OPPORTUNITIES |
| THREATS TO BUSINESS | WHAT BUSINESS STRENGTHS CAN BE USED TO NEUTRALIZE THESE THREATS | HOW TO MINIMIZE WEAKNESSES TO AVOID THREATS |
2.2.2. COMPANY PRODUCT LINE ANALYSIS
BOSTON ADVISORY GROUP MATRIX
The appearance of the BCG model (matrix) was the logical conclusion of one research work carried out at the time by the Boston Consulting Group. The Boston Matrix is based on the model life cycle product, according to which the product in its development goes through four stages: entry into the market (product-"problem"), growth (product-"star"), maturity (product-"cash cow") and decline (product-"dog"). ").
Ideally, a balanced nomenclature portfolio of an enterprise should include 2-3 goods - "cows", 1-2 - "Stars", several "problems" as a reserve for the future and, possibly, a small number of goods - "dogs". An excess of aging goods ("dogs") indicates the danger of a downturn, even if the current performance of the enterprise is relatively good. An excess of new products can lead to financial hardship.
3. Choosing a company development strategy
The choice of the development strategy of the KKK company was carried out on the basis of an analysis of the current market situation using the SWOT analysis method, as well as on the basis of an analysis of the company's product portfolio using the BCG matrix.
3.1. Analysis of external and internal factors
The KKK company was established 2 years ago and is a service company providing maintenance, technical support, improvements and modernization services. ERP systems enterprise management based on SAP solutions. The company is not engaged in large projects for the implementation of such systems (consulting), but is able to carry out small projects to modernize and develop existing systems. The company has the status of SAP Service Partner. Major clients are large industrial enterprises who have implemented automated system management of financial and economic activities (ACS FHD) based on SAP solutions (SAP R / 3, mySAP ERP, mySAP All-In-One).
3.1.1. FEATURES OF THE MARKET OF KKK SERVICES
- Since January 2009, a feature of supporting SAP systems is the mandatory requirement of the developer company that, as part of the licensed support, the client installs the subsystem SAP Solution Manager (SSM). This subsystem allows you to organize:
Monitoring of the main SAP subsystems of the client.
- Incident management (Service Desk).
- Change management.
- Fault analysis, configuration management.
- Communication with SAP, maintenance of the Solutions Database.
- SAP solutions upgrade, test management.
- User training management. - In a crisis, ALL customers insist on reducing the cost of maintaining their systems. At the same time, they agree to reduce labor costs for maintenance by increasing the qualifications and responsibility of end users (reducing the number of calls to the support service).
- On July 27, 2006, Federal Law No. 152-FZ “On Personal Data” was issued. In accordance with this law, companies that process personal data using automation tools (personal data operator) are required to ensure the “confidentiality of personal data and the security of personal data during their processing”, which must be confirmed by an act based on the results of an appropriate audit. In case of non-compliance by the operating company with the requirements of this law from 01.01.2010 electronic information with personal data stored on any media and in any systems must be destroyed within three days. All companies operating in the in electronic format personnel accounting and calculation wages their employees.
- Due to the crisis, the cost of renting office space has dropped sharply, and the amount of vacant space has increased.
- Due to layoffs in many companies, about 20% more vacancies appeared on the labor market than six months ago.
3.1.2. SWOT ANALYSIS OF KKK COMPANY:
3.1.2.1. ANALYSIS OF INTERNAL FACTORS
1. Strengths of the business
The undoubted advantage and main capital of the company is highly qualified staff capable of solving the most complex problems.
Also a strong point is streamlined production cycle company KKK, namely, the presence of a single centralized user support service (CSS). This allows you to easily take on new customers without the need to linearly increase staffing company, and also makes it possible to keep accurate records and control labor costs for support.
Accurate accounting and control allows you to generate any necessary reporting for the client with any level of detail. Process transparency the provision of services and the ability to quickly see how much money was spent on support, what are the causes of incidents, what is the level of satisfaction of end users with the timing and quality of services - all this forms customer loyalty.
In addition, KKK has SAP Service Partner status that for customers is still under consideration commercial offer is a confirmation of the level of professionalism of the company and, other things being equal, is competitive advantage in front of other performers.
The service company, due to the nature of its services, concludes long-term contracts(a year or more) with regular subscription fee for your services. This feature is the strength of the service company's business.
2. Weaknesses of the business
As in any rapidly growing and developing company, KKK still internal stable communication system is not formed. Most Attention given to the organization of production, as the most critical area of business. At the same time, the internal business processes of the KKK company itself are poorly formalized, the internal system of communications, both vertical (between administration and employees) and horizontal (between departments), is ineffective.
The fact that cost accounting and control in the company is quite effective has also reverse side. For significant business expansion production capacity lacks. This means that additional time will be required to deploy new capacity, which may make it difficult to bring new services to market.
Despite tight cost control the level of production costs in the company is higher than that of most competitors. This is due to the need to train personnel, comply with the requirements for licensed cleanliness of the used software, a developed system of motivation for qualified personnel, etc.
At the same time, for service business a feature of sales of services to support ERP-systems in the segment of large enterprises is that such contracts are signed for large amounts, but with a small number of customers. The process takes a long time, from several months to a year or more. These are the so-called "long selling". Thus, the expansion in the segment big business extremely difficult.
3.1.2.2. ANALYSIS OF CHANGES IN THE EXTERNAL ENVIRONMENT
1. External threats
The main threat from KKK customers is the danger delays in payment for services rendered. In conditions of lack of funds, issues of maintaining information systems that are not related to the main production are considered in the second or third place.
The second biggest threat is decrease in income due to a more stringent attitude of customers to costs. Most clients have revised their budgets for 2009 and have not only minimized investment projects, but also seek to reduce the cost of services to support existing systems.
In the conditions of refusal of customer enterprises from investment costs, most consulting companies are experiencing significant difficulties associated with a sharp decline in revenue. Some of the specialists are fired by these companies, and the remaining ones are trying to organize a service direction in their business. The emergence of new competitors, including lone freelancers who are often willing to work at low rates, exacerbates already complicated relationships with clients seeking cost savings.
2. External opportunities
Almost all KKK clients, when considering opportunities to reduce the cost of maintaining their information systems, are ready not only to discuss a reduction in prices for the work performed, but also to make their own efforts to actually reduce the contractor's labor costs. According to KKK internal statistics, after the commissioning of any project, up to 50-60% of questions received by the support service (SSS) are not related to real problems in the system, but to insufficient training of end users who cannot and do not want to work in new system. And even after 3-5 months of optimizing the work of the SPP on this client the percentage of such unqualified appeals does not fall below 30-35%. The customer is ready to order and pay for the service of organizing a permanent upgrading and maintaining the skills of end users, conducting regular trainings and certification among them on the ability to work with a complex system.
Since 01/01/2009, SAP AG has been requiring its customers to Mandatory configuration of SAP Solution Manager. This tool allows you to organize a full-fledged WBS and set up a number of reports that help the client to quickly monitor both the state of the SAP system as a whole and evaluate the volume and quality of services provided. It is this transparency of service services that is most interesting to KKK customers.
Entry into force federal law No. 152-FZ "On Personal Data" also opens up great opportunities for business development for those companies that can organize a service outsourcing in terms of work with personal data client employees. Compliance with the requirements of the law is quite expensive and affects almost any enterprise (personnel records, payroll). That is, in the medium-sized business segment, the likelihood of concluding such contracts is high.
3.1.2.3. SWOT ANALYSIS TABLE
When analyzing the stated strengths and weaknesses of KKK in the face of newly emerging external threats and opportunities, the following assessments and recommendations were obtained.
1. The presence of a well-organized production base, qualified personnel, a streamlined process of providing services in conditions of complete transparency for the client - all this in itself allows you to expand your business. And in a crisis, when a client seeks to reduce costs while maintaining the quality of services, the emergence of new requirements both in terms of Russian legislation and in terms of the licensing policy of the company developing SAP systems opens up specific opportunities for creating new services:
1.1. Development and organization of a permanent system of trainings for the end users of each customer.
1.2. Setting up the SSM monitoring and reporting system for a specific project and the requirements of a specific client.
1.3. Outsourcing in terms of work with personal data for medium and small businesses (SMB)
2. These additional services will provide "short sales", which will expand the portfolio of orders and compensate for the loss of part of the income under current contracts due to the tightening of the cost reduction regime for customers.
3. Using and developing the strengths of the business allows you to provide the client with the same scope of services, but with less labor costs (by improving the skills of KKK's own personnel, as well as by training the customer's personnel and reducing the number of calls to the SPP). This allows you to offer customers better services at a lower cost, which gives you a significant advantage over less organized competitors, even if their services are noticeably cheaper.
4. Particular attention should be paid to the weaknesses:
4.1. Organize training for middle managers in project management.
4.2. Along with vocational training, organize a permanent system psychological trainings for all company personnel. Pay special attention to building vertical and horizontal communications, creating a unified corporate style, the "face" of the company.
5. In terms of cost management, the crisis creates the preconditions for:
5.1. The cost of renting premises on the market has fallen significantly. This allows you to save up to 30-40% of the rent.
5.2. In the face of the danger of losing their jobs, the staff clings to its place more tightly. This makes it possible to tighten the conditions and switch to wages upon production.
3.1.3. ANALYSIS OF THE PRODUCT LINE OF THE COMPANY KKK:
The product line (catalog of services) of KKK includes the following main areas:
- Maintenance and minor improvements in the client's existing SAP systems.
This is " Milch cow» (slow growth/high share). - Sale of services of individual specialists to consulting companies for participation in projects for the implementation of new SAP systems.
This is "Dog" (slow growth, small share). - Participation in projects for the implementation of new SAP systems on the customer's side (sale of the project team to the client).
So far, this is a "Cash Cow" with a gradual shift towards the "Dogs". - Implementation and configuration of the SAP Solution Manager (SSM) solution with setting up individual reports for the client on the volume, cost and quality of support services in the context of functional groups, organizational structure, causes of incidents.
This is a "Problem" (fast growth/low share) with a possible trend towards a "Star" (fast growth/high share). - SAP Skills Consulting Services for Client's End Users.
This is a “Problem”, but when developing a training system, the service turns into a “Star”. - Outsourcing of services for working with personal data (personnel records and payroll).
This is a “Problem”, at significant cost it can turn into a “Star”. Further, the expansion of this service can lead to a full-scale maintenance of information systems and IT infrastructure of the client and move into the category of "Cash Cows". - Maintenance of the client's technical IT infrastructure.
This is a "Dog" (slow growth/small share), with no growth prospects. - Full outsourcing of maintenance and development services information technologies client.
At the moment it is "Dog". During the crisis, the prospect of increasing customer interest in this service is possible. In this case, the service goes into the "Problem" category, and upon receipt of contracts for servicing the client's systems - into the "Cash Cow" category.
3.2. Definition of KKK's development strategy:
4. Conclusion
This article discusses the issues of the company's short-term development strategy for the next 1-2 years. This period is due to the fact that in a crisis it is important to respond quickly to newly emerging threats and newly emerging opportunities, while long-term planning requires more deep Scan situation and market conditions, which is inappropriate in these conditions.
Therefore, the focus is on operational evaluation market situation and the current state of the company, a detailed assessment of the product portfolio and planning efforts to strengthen the main capital of the company - production personnel.
In general, in a crisis, an IT service company has a very good chances not only to maintain the business, but also to significantly expand it. Therefore, for KKK, it is preferable not to have a strategy of survival and cost reduction, but a strategy of development and market capture by expanding the catalog of services, providing services more High Quality and with maximum transparency, allowing the customer to flexibly manage the costs of the service.
Bibliography
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- Aaker D. Strategic market management. - St. Petersburg: Publishing house "Piter", 2006.
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- Korotkov E.M. "Anti-crisis management" M: INFRA-M, 2007.
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- Ananin V.I. IT strategy. Lecture course. M., ANKh, 2007.
Copyright © 2009 Zakharenko V.A.
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