[Keywords]; response; crisis
Compared with previous years, the winter of 2008 was not too cold. However, the economic crisis that originated in the United States brought biting cold waves to the Chinese mainland economy and formed a "severe winter" ". This economic crisis spread rapidly around the world and turned into a global crisis. The international economic situation was extremely severe, which also affected the development of China's economy. Faced with the severe shrinkage of the foreign trade market and fierce competition in the domestic market, how should Chinese enterprises survive this unavoidable "long winter"? Most economic circles in various countries attribute the problems to economic bubbles, excess, lax supervision and financial derivatives. Flooding and other external and technical factors, but from an internal perspective, improving the operation and management mechanism and improving one's own ability to prevent risks are the fundamental guarantees for dealing with external crises. The author believes that in this economic crisis, a considerable number of companies purely pursue sales and market share, ignore the risks of financial management, lack a complete internal control system, work methods and organizational structures cannot adapt to changes in the situation, and the management level of financial personnel is limited , so that the supervisory function that finance should play has not been exerted, and the benefits that should be increased through financial management have not appeared, so that the company is stretched every year, and when the economic crisis comes, it has no power to withstand it. Therefore, sound and perfect financial management is an important foundation for enterprises to achieve self-regulation and self-discipline, and is also the key to coping with economic crises.
1. Comprehensively update financial management concepts
This economic crisis is mainly It is the financial market, real economy, real estate, exchange rate and other aspects that have a greater impact on the Chinese economy. This is also a verification of the quality of corporate financial management. Enterprises need to re-examine the pros and cons of their own financial management, thereby re-positioning the financial "management objectives" scientifically, forming a management and operating mechanism that is compatible with it, and optimizing corporate financial management behavior.
To achieve the above goals, the measures are:
(1) Improve financial management under the new situation Re-understand the importance and necessity of work and establish the central position of financial management in modern enterprise management
The impact of the economic crisis on countries such as reduced export trade, shrinking production, and declining profits is particularly obvious. Enterprise managers must attach great importance to financial management, understand the financial status of the enterprise, and strengthen Only by improving the management of fund raising, investment, use and distribution and improving the level of fund operation can the current tense situation be alleviated. For example, it is necessary to change the traditional situation where the finance department takes the lead and executes budget management work, and instead has the corporate managers personally take the lead, establish a comprehensive budget management system, clarify the personnel and responsibilities of the decision-making agencies, working agencies, and execution agencies of budget management, and realize self-management. The management model with top-down participation of all employees keeps all business activities under control and can be adjusted freely in times of crisis.
(2) Change the past situation where leaders interfered too much in financial management, clearly indicate the authority of the financial person in charge, so that corporate financial management can be based on the current situation of the company and provide benefits to the company. Seeking to play an effective role in continuously improving economic benefits
In this crisis, many companies are vulnerable and on the verge of despair. There is a common phenomenon in enterprises of poor monitoring and even internal manual control. Financial personnel are in a subordinate position and can often only handle accounts according to the leader's intention, resulting in "financial management follows accounting, and accounting follows the will of the leader", which makes financial management flow. Due to the form, more than 80% of corporate accounting information has varying degrees of distortion. Therefore, it is necessary to learn lessons and sum up experience, starting from the management level, clarifying the authority of the financial person in charge and the functions of financial personnel, so that their management and monitoring roles can be truly brought into play.
(3) Financial personnel cannot only focus on material assets and financial capital in financial management, but must change their concepts and gradually establish people-oriented concepts, information concepts, risk prevention concepts, and knowledge-based concepts. Changes in concepts such as financial management concepts, intellectual capital concepts, and the integration of competition and cooperation are commonplace, but few companies can actually achieve them. The source of funds for most enterprises is loans and loan payments. When the economic crisis hit, sales dropped and credit tightened, putting enterprises generally in trouble. If financial personnel can change their financial management concepts, broaden their thinking, and expand their own funds through multiple channels, such as collecting interest at agreed interest rates, handling acceptance bills, etc., it will be able to play a very good role in solving the problem of insufficient capital turnover during the economic crisis. .
At the same time, improving the financial awareness of all employees is also the key to strengthening financial management and surviving the economic crisis. Only in this way can international financial management goals be achieved.
2. Establish and improve rules and regulations
Today's financial personnel are not just reviewing general expense reimbursements, but should run through the entire process of the company's operating activities, starting from the company's operating funds Raising, utilizing funds, expenses, revenue realization, all the way to the generation of financial results. And in the current situation of economic contraction, lower profit margins must be matched with higher operating efficiency. Therefore, improving rules and regulations is the basis for strengthening financial management and the guarantee against economic crises. Enterprises should focus on the following two aspects:
(1) Have rules and regulations to follow
In accordance with the provisions of the "Company Law", "Accounting Law" and other relevant laws and regulations, and in combination with the actual situation of the enterprise. Establish a series of financial management rules and regulations, and continuously supplement and improve them to improve the scientific nature and applicability of the rules and regulations. At the same time, a strict job responsibility system should be formulated, a dynamic incentive mechanism and an effective supervision and restraint mechanism should be established. In order to promote the sense of responsibility of every financial personnel, establishing an effective assessment system is also an important part of doing basic financial work.
(2) Act strictly in accordance with the rules
In financial management, there are laws and regulations that are not followed. Circulation is the root cause of corporate death and bankruptcy. For example, the "sudden shock" of ** Group, the overnight collapse of "** Asia Group", the bankruptcy of "** Group" due to the sudden break of its economic chain, and the shaky collapse of "** Bao Group" were all caused by this. . These real cases constantly remind corporate financial personnel that they must do a good job in financial management on the premise of managing finances in accordance with the law, being fair and honest, insisting that everyone is equal before the system, and violating the rules will be punished. It is very important to prevent rules and regulations from becoming a mere formality and to enhance the rigidity of their implementation. necessary.
3. Innovation and adjustment of financial management content
Enterprises are clear Measures to deal with the economic crisis and corresponding solutions will not only gain more customers and market opportunities, but also enhance their organization and profitability. Therefore, financial management should exist in a comprehensive and value management manner in the aspects of financial forecasting, decision-making, planning, control, diagnosis and the processing of financial relationships in corporate economic activities. It is urgent to adjust the content of existing financial management.
(1) Establish diversification of financial management goals
The single goal of maximizing shareholder wealth must be changed , clearly establish the diversification of corporate financial management objectives.
(2) Make intangible assets the focus of corporate financial management
We must pay attention to the investment and management of intangible assets, and improve and adjust the original management Indicators, add an indicator system that reflects the investment, use, and income status of corporate intangible assets.
(3) Establish financial analysis and evaluation indicators that reflect the value of intellectual capital
Establish intellectual capital assessment indicators, evaluate the value of intellectual capital, regularly prepare intellectual capital reports, and disclose changes and investment returns in terms of technological innovation, human capital, customer loyalty, etc.
(4) Means of improving financial management of modern enterprises
It is necessary to speed up the informatization construction of enterprises and gradually Realize network financialization and integrate network finance into the enterprise resource planning system; you can also use analytical tools to obtain timely, accurate and actionable information, and respond faster to emerging needs and opportunities.
4. Strengthen risk prevention in financial management
The daily activity environment of enterprises is complex and changeable , usually face risks such as market risk, management risk, financial risk, policy risk, and the management level of partners and operators. The economic crisis becomes one of these risks
The complex is fierce and destructive, so enterprises must establish a complete set of financial risk control mechanisms to control key links such as fund raising, major investments, working capital, debt repayments, asset losses and tax expenditures. system, strengthen risk warning and identification, timely assess, prevent, control and disperse financial risks, and strive to resolve financial risks or minimize losses in the economic crisis while achieving business goals.
(1) Strengthen the risk awareness of financial managers
Timely adjust the knowledge structure of financial personnel to adapt to the new environment so that they can capture risks in a timely manner , measure the ability to prevent risks.
(2) Make full use of information networks to strengthen research
Use science Methods are used to predict investment projects and improve the scientificity and feasibility of investment decisions.
(3) Should pay attention to and rely on the opinions of independent organizations outside the enterprise
Enterprises should listen to and Absorbing advice from external experts will help reduce the rate of misjudgments and reduce risks in corporate operations and decision-making.
5. Strengthen internal controls
At present, enterprises are in an extraordinary period. Facing the adverse effects of the global economic recession, they need fast and decisive execution, and they need to be flexible and forward-looking. To be fully prepared for the uncertainties that may arise at any time in the market from a comprehensive perspective. Strengthening internal control, improving operating efficiency, and protecting property safety are effective tools to achieve business policies and goals, and are also means to resist economic crises.
Enterprises must establish and improve internal accounting systems based on actual conditions, clarify the responsibilities and authorities of accounting personnel, and establish a complete job responsibility system, internal containment system, and audit system. Accounting supervision must consist of Ex-post supervision has shifted to all-round and whole-process supervision. In view of the shortcomings exposed in the operation and management of enterprises such as insufficient internal control systems, insufficient internal supervision, weak operability, and obvious lags, we should combine the actual development and To establish a modern enterprise system, fully consider the nature, scale, production process, management model, etc. of the enterprise, and focus on effectively reducing costs and procurement expenditures, streamlining product structure, and improving capital liquidity, and gradually Achieve zero inventory and zero-risk operations.
6. Cultivate high-quality financial managers with innovative capabilities
Faced with the introduction of downsizing policies in many companies, financial personnel should, while establishing a sense of crisis, turn pressure into motivation, comprehensively improve their overall quality, and be able to take on multiple jobs or positions. Enterprises must Organize targeted training to broaden the knowledge of financial personnel. At the same time, improve management quality and moral quality. Only by mastering the basic principles and methods of modern management and being able to comprehensively analyze and correctly handle various problems in management activities can the organization be strengthened capabilities, adaptability and coordination skills, and improve management efficiency. In daily work, financial personnel should also be encouraged to think and innovate, and implement competitive recruitment and staged performance appraisals to retain high-quality talents for enterprises in difficult times.
By strengthening financial management, the competitiveness of enterprises will be enhanced, the ability of enterprises to resist market risks will be improved, and corporate profits will be expanded. Under the current economic situation, enterprises cannot be passively controlled In the external environment, moreTake the initiative. Carefully examine various existing or potential financial management crises within the enterprise, actively seek countermeasures, learn from advanced financial management work experience, continuously improve financial management levels and economic benefits of capital operations, and enhance the ability to withstand the "cold winter".
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