外文翻譯---戰(zhàn)略財務(wù)管理的中小型企業(yè)

1、<p>　　Strategic Financial Management in Small and Medium-Sized Enterprises</p><p>　　Zongsheng Liu</p><p>　　Economic Theory and Management.</p><p><b>　　Abstract</b>&

2、lt;/p><p>　　Along with the development of social economy and the progress of science and technology, Chinese enterprises are being in a stage filled with opportunities and dangers. This paper introduces the con

3、notation and significance of strategic financial management, elaborates the problems in the financial strategies conducted by small and medium-sized enterprises together with the causes and proposes some countermeasures

4、finally. </p><p>　　Keywords: Small and medium-sized enterprises, Strategic financial management, Problems, Countermeasures </p><p>　　Introduction</p><p>　　The uncertainty of an ente

5、rprise’s financial environment fills its financial activities with risks. In addition to opportunities, quite a lot of dangers arise from time to time in its financial management. Therefore, it has become the key to the

6、success of an enterprise’s financial management whether it can keep track of the trends of changes and absorbe what is useful while rejecting what is harmful. Strategic management ideas are significant in enterprises’ f

7、inancial management since we must </p><p>　　1. Connotation and Main Contents of Strategic Financial Management </p><p>　　Strategic financial management refers to financial management theories ac

8、cording to which financing should be conducted in the most proper way, the collected capital should be utilized and managed in the most effective way in enterprises and decisions on the reinvestment and distribution of p

9、rofits should be made most reasonably. According to its connotation, we can sum up the three main contents of strategic financial management, including financing strategy, investment strategy and profit-dist</p>&

10、lt;p>　　Financing strategy </p><p>　　Highly developed modern enterprises are characterized by sharp growth in sales. When faced up with such a situation, enterprises tend to have great demands for capital

11、since stocks and receivables are increased as well. The greater the tension of sales growth is, the greater capital demands will be. Therefore, financing strategy is of significance in strategic financial management. The

12、 functions of financing strategy lie in clarifying the guidelines for financing, laying down financing objective</p><p>　　2. Problems in Strategic Financial Management of Small and Medium-Sized Enterprises i

13、n China </p><p>　　Currently, some common problems include: </p><p>　　2.1 Lacking in Scientific and Standardized Financial Strategies </p><p>　　Quite a few enterprises are pursuing o

14、nly a large scale, or purchasing a large amount of land while neglecting asset structure allocation, or having no reasonable arrangement for its capital. They have no financial strategies at all, not to mention their imp

15、lementation. As for some others, the effect of their strategic financial management is greatly affected due to their unscientific and irregular strategies, which are characterized by the following features: first, their

16、strategic financial ai</p><p>　　2.2 Neglecting Strategic Environment Analysis and Having Unreasonable Strategic Financial Goals </p><p>　　Strategic environment analysis is both the foundation o

17、f financial strategies and the guarantee for its implementation. It includes internal and external environment analysis with the former being the internal foundation and implementation basis for the establishment of fina

18、ncial strategies. At present, quite a lot of small and medium enterprises haven’t realized the importance of strategic environment for the establishment and implementation of financial strategies and accordingly failed t

19、o hav</p><p>　　As a result, their unpractical and unreasonable strategies have restricted the effective implementation of their financial strategies. </p><p>　　2.3 Lessening the Role of Budgeti

20、ng in Strategic Financial Implementation </p><p>　　Budgeting mainly exerts its role in strategic financial implementation in two aspects. First, it further clarifies and specifies strategic financial ideas s

21、o as to be understood and conducted by all the staff. Budgeting can help to divide strategic goals into every section of an enterprise and even every employee. In addition, when implementing a task jointly, all sections

22、 an all employees will have better cooperation and communication with each other. Second, budgeting also provides a standa</p><p>　　2.4 Problems in Enterprises’ Financial Management </p><p>　　

23、Now, some problems in small and medium enterprises’ financial management have also restricted the establishment and implementation of their financial strategies. Some main problems are as follows. </p><p>　

24、?、貽bsolete ideas, unclear duty division and disordered management. Enterprises have no idea of “corporate management should be based on financial management and financial management should center on capital management; e

25、ntrepreneurs and financial staff’s lack of scientific and advanced financial ideas including time value, risk value, marginal cost, opportunity cost and insufficient knowledge about financial management theories and met

26、hods have resulted in unclear duty division, disordered manag</p><p>　?、?Difficult financing, mainly manifested in insufficient channels and scales of financing channels as well as disordered financing orde

27、rs. Currently, most small and medium enterprises are faced with great difficulty in gaining short-term loans, not to mention long-term ones. 81% of all enterprises have no enough current funds for their operation. </p

28、><p>　　The longer the periods of loans are, the less money they can really utilize from their loans. As is shown in a survey, 60.5% enterprises have no access to long-term loans, among those who can really get

29、such loans, 16% enterprises’ demands are fully fulfilled, 52.7% are partially fulfilled 31.2% are not fulfilled. (Huang, 2008) </p><p>　　3. Causes of the Problems in Strategic Financial Management of Small

30、and Medium-Sized Chinese Enterprises </p><p>　　At present, most small and medium enterprises especially those private ones employ highly unification of ownership and management rights in which the investor

31、is the manager whose power can not be restricted in any case. Having no clear division of duties and strict regulations, these managers don’t embody financial management into an effective corporate management system, not

32、 to mention regarding financial strategies as a significant part of the enterprise’s overall strategies, hence lessening </p><p>　　Especially for those enterprises venturing out of niches, unfavorable enviro

33、nment is the chief offender. </p><p>　　In addition, managers’ poor quality is also an important cause for the failure of financial strategies. It is well known that most managers in small and medium Chinese

34、 enterprises have poor comprehensive quality, insufficient management experiences and low efficiency because they haven’t gone through any systematic learning of management theories and special professional training. The

35、refore, they are not able to have reasonable predictions, decisions, budgets, control, analysis and evaluation b</p><p>　　4 Creating Favorable Strategic Environment and Emphasizing Environmental Analysis &l

36、t;/p><p>　　For small and medium enterprises, their strategic environment has impact on not only their financing but the establishment and implementation of their financial strategies. Therefore, it is of great

37、importance to create favorable strategic environment and emphasize environmental analysis. </p><p>　　In spite of a series of national policies encouraging, guiding and supporting the development of small an

38、d medium enterprises in China, the internal and external environment for their development needs to be improved greatly. </p><p>　　Accordingly, China should make more efforts to develop its local banks and f

39、inancial agents with small or medium scale, to establish a financial system beneficial for these enterprises’ development, to establish or perfect effective loans guarantee system to help these enterprises, to offer oppo

40、rtunities for them to issue their stocks or bonds, to expand direct financing channels and encourage the development of risk investment, to promote the development of enterprises specialized in high and n</p><

41、p>　　In a word, government, society and enterprises’ joint efforts should be relied on to create favorable financial environment for these small and medium enterprises. In addition, these enterprises should be fully aw

42、are of the importance of environment for their financial strategies and try to establish scientific, reasonable and feasible strategic goals and guarantee their effective implementation by further strengthening environme

43、ntal analysis and improve their decision-making abilities. </p><p>　　Conclusion</p><p>　　To sum up, a variety of elements related to enterprises’ external and internal conditions should be take

44、n into consideration when they establish their financial strategies. Due to their different characteristics, small and medium-sized enterprises have to establish their own financial management strategies instead of copyi

45、ng those of the large enterprises. </p><p>　　戰(zhàn)略財務(wù)管理的中小型企業(yè)</p><p>　　Zongsheng Liu.</p><p>　　Economic Theory and Management</p><p><b>　　摘要</b></p><

46、;p>　　隨著社會經(jīng)濟的發(fā)展和科學(xué)技術(shù)的進步，中國企業(yè)正在與一個充滿機會和危險的階段。本文介紹的內(nèi)涵和戰(zhàn)略財務(wù)管理的重要性，闡述金融戰(zhàn)略進行小型和中小型企業(yè)的共同問題及原因，并提出了相應(yīng)的對策終于。</p><p>　　關(guān)鍵詞：小型和中小型企業(yè)，戰(zhàn)略財務(wù)管理，問題，對策;</p><p><b>　　前言</b></p><p>　　一個

47、企業(yè)的金融環(huán)境的不確定性充滿風(fēng)險的金融活動。除了機會，相當(dāng)多的危險地段不時出現(xiàn)在其財務(wù)管理時間。因此，它已成為關(guān)鍵，一個企業(yè)的財務(wù)管理的成功是否可以保留的變化和趨勢，同時又拒絕什么是有害的。戰(zhàn)略管理思想在企業(yè)財務(wù)管理的重要，因為我們要努力分析和把握的整體環(huán)境，一個企業(yè)的發(fā)展趨勢，因此，提高適應(yīng)性，可變性和財務(wù)管理是否適用于不確定的環(huán)境。目前，超過10,000,000小型和中小型企業(yè)已通過了工商登記，占90％，中國的企業(yè)總數(shù)。因此，他們的

48、戰(zhàn)略財務(wù)管理是特別重要，這也是本文的主題。</p><p>　　戰(zhàn)略財務(wù)管理的中小型企業(yè)</p><p>　　1、戰(zhàn)略財務(wù)管理的主要內(nèi)容</p><p>　　戰(zhàn)略財務(wù)管理財務(wù)管理理論，是指根據(jù)這些資金應(yīng)在最適當(dāng)?shù)姆绞竭M行，募集資金應(yīng)當(dāng)利用和企業(yè)的再投資和利潤分配的決定和最有效的方式管理應(yīng)最合理。根據(jù)它的內(nèi)涵，我們可以歸納出三個主要內(nèi)容的戰(zhàn)略財務(wù)管理，包括融資策略，投

49、資策略和利潤分配的策略。詳情如下：</p><p>　　融資策略高度發(fā)達的現(xiàn)代企業(yè)是在銷售大幅增長的特點。當(dāng)面對這樣的形勢，企業(yè)往往有很高的要求，因為資本股票和應(yīng)收賬款有所增加。更大的銷售增長張力越大，資金需求將。因此，融資戰(zhàn)略是在戰(zhàn)略財務(wù)管理的重要性。融資戰(zhàn)略的功能在于進一步明確了籌措經(jīng)費的準(zhǔn)則，奠定了融資目標(biāo)，建立了整體規(guī)模，渠道和融資方式，優(yōu)化資本結(jié)構(gòu)安排的戰(zhàn)略計劃，制訂相應(yīng)的對策，以實現(xiàn)融資目標(biāo)，并最后預(yù)

50、測和收集企業(yè)需要的資金數(shù)額。</p><p>　　2、小中存在的問題和戰(zhàn)略大中型企業(yè)財務(wù)管理的中國目前，一些常見的問題包括：</p><p>　　2.1缺乏科學(xué)和規(guī)范化的財政對策</p><p>　　不少企業(yè)只追求規(guī)模大，或購買大量土地，而忽視了資產(chǎn)結(jié)構(gòu)分配，或有沒有為資本的合理安排。他們沒有財務(wù)策略可言，更不用提其執(zhí)行情況。至于一些人，他們的戰(zhàn)略財務(wù)管理的效果有

51、很大的影響，由于其不科學(xué)的，不規(guī)則的戰(zhàn)略，這是由以下特點：第一，他們的財務(wù)目標(biāo)，從戰(zhàn)略的企業(yè)整體的離開;第二，金融戰(zhàn)略把等于財務(wù)計劃，從而忽略了金融戰(zhàn)略的全面性;第三，金融戰(zhàn)略是基于他們沒有取得企業(yè)的長遠目標(biāo)，因此有很大的隨機性。</p><p>　　2.2忽視戰(zhàn)略環(huán)境分析及戰(zhàn)略有不合理的財務(wù)目標(biāo)</p><p>　　戰(zhàn)略環(huán)境分析是財務(wù)戰(zhàn)略的基礎(chǔ)和保證其實施。它包括內(nèi)部和外部與前者的內(nèi)部基

52、礎(chǔ)和建立金融戰(zhàn)略實施的基礎(chǔ)環(huán)境分析。目前，不少中小型企業(yè)很多沒有認識到建立和金融戰(zhàn)略的實施戰(zhàn)略環(huán)境的重要性，因此無法對他們的戰(zhàn)略金融環(huán)境，特別是其內(nèi)部環(huán)境的正確分析。</p><p>　　因此，他們的不切實際和不合理的戰(zhàn)略，限制了其金融戰(zhàn)略的有效實施。</p><p>　　2.3減少在戰(zhàn)略執(zhí)行情況的財政預(yù)算中的作用</p><p>　　預(yù)算主要在兩個方面發(fā)揮其在金融

53、方面的戰(zhàn)略實施中的作用。首先，它進一步明確，并指定財務(wù)戰(zhàn)略思想，以理解和所有工作人員進行。預(yù)算可以幫助戰(zhàn)略目標(biāo)劃分到每一個企業(yè)的部分乃至每一位員工。此外，當(dāng)實現(xiàn)一個共同的任務(wù)，所有版面的全體員工將有更好的合作與相互溝通。第二，預(yù)算還提供了一個企業(yè)的日常運行和性能標(biāo)準(zhǔn)。隨著定量財務(wù)預(yù)算設(shè)定的目標(biāo)，可實際執(zhí)行與預(yù)算比較，揭示之間的目標(biāo)與現(xiàn)實的差距，并采取有效的對策?，F(xiàn)在，大部分中小型企業(yè)在中國沒有系統(tǒng)和完整的預(yù)算體系由銷售預(yù)算，生產(chǎn)預(yù)算，成

54、本，一般間接費用預(yù)算，損失和費用，讓步和現(xiàn)金預(yù)算等。即使一些有這樣的系統(tǒng)，其認真和嚴格執(zhí)行預(yù)算短缺也降低了預(yù)算編制的作用以及對金融戰(zhàn)略的實施。</p><p>　　2.4在企業(yè)財務(wù)管理存在的問題</p><p>　　如今，在中小型企業(yè)財務(wù)管理中的一些問題也限制了其財政的建立和戰(zhàn)略的實施一些主要問題如下。</p><p>　?、倥f思想，明確職責(zé)分工和管理混亂。企業(yè)有沒

55、有“企業(yè)管理應(yīng)以財務(wù)管理和財務(wù)管理理念應(yīng)該圍繞資本管理，企業(yè)家和財務(wù)人員的科學(xué)和先進的金融理念缺乏，包括時間價值，風(fēng)險價值，邊際成本，機會成本和知識不足有關(guān)財務(wù)管理理論和方法，職責(zé)分工不清導(dǎo)致，管理混亂，監(jiān)管不力，虛假會計信息等。</p><p>　?、谌谫Y難，主要是在不足渠道和融資渠道，規(guī)模以及無序融資訂單體現(xiàn)。目前，大部分中小型企業(yè)都面臨著在獲得短期貸款，更不要說長期的巨大的困難。所有企業(yè)的81％的人沒有足夠

56、的電流為他們的經(jīng)營資金。時間越長，貸款期限是，少錢，他們能真正發(fā)揮他們的貸款。由于是在一項調(diào)查顯示，60.5％的企業(yè)沒有在那些長期貸款，訪問誰真的可以得到這樣的貸款，16％企業(yè)的需求得到充分滿足，52.7％是部分實現(xiàn)31.2％是沒有得到履行。 </p><p>　　3.該問題的原因在中小企業(yè)戰(zhàn)略中小型中國企業(yè)財務(wù)管理</p><p>　　目前，大部分中小型企業(yè)，特

57、別是那些私人聘請的高度統(tǒng)一，所有權(quán)和經(jīng)營權(quán)，其中投資者是管理者的權(quán)力不能在任何情況下受到限制。由于沒有嚴格規(guī)定的職責(zé)和分工明確，這些管理者沒有體現(xiàn)到一個有效的企業(yè)管理系統(tǒng)的財務(wù)管理，更何況對于作為企業(yè)的整體戰(zhàn)略的重要組成部分的財政策略，從而減少其意義和作用。這些經(jīng)理不相信的策略，但好運氣，而不是制度，而是血緣關(guān)系，而不是程序，但解決的關(guān)鍵要點，而不是管理，但技術(shù)和市場。特別是對于那些風(fēng)險投資企業(yè)的利基出來，不利的環(huán)境是主要的罪犯。此外，

58、經(jīng)營者質(zhì)量差也是金融戰(zhàn)略失敗的重要原因。眾所周知，在中小型企業(yè)中大多數(shù)管理者的綜合素質(zhì)差，管理經(jīng)驗不足和低效率，因為他們沒有經(jīng)過任何特殊的管理理論和系統(tǒng)的學(xué)習(xí)了專業(yè)培訓(xùn)。因此，它們不能夠有合理的預(yù)測，決策，預(yù)算，控制，分析和評價自己的特色和市場基礎(chǔ)，以對金融環(huán)境分析，制定適用的，可行的戰(zhàn)略融資，投資以及利潤分銷，或充分認識到財政預(yù)算的重要性，因此已對其實施有效的控制，以更好地服務(wù)于他們的企業(yè)發(fā)展戰(zhàn)略的總體目標(biāo)。</p>&

59、lt;p>　　4.創(chuàng)建有利的戰(zhàn)略環(huán)境，注重環(huán)境分析</p><p>　　對于中小型企業(yè)，其戰(zhàn)略環(huán)境，不僅有融資，但其建立和金融戰(zhàn)略實施的影響。因此，它是非常重要的戰(zhàn)略創(chuàng)造良好的環(huán)境，強調(diào)環(huán)境分析。在一個國家政策的鼓勵，引導(dǎo)和支持在中國中小型企業(yè)發(fā)展的一系列盡管如此，其發(fā)展的內(nèi)部和外部環(huán)境需要大大提高。</p><p>　　因此，中國應(yīng)該更加努力地發(fā)展同小或中等規(guī)模的本地銀行及財務(wù)代

60、理，建立一個金融系統(tǒng)，這些企業(yè)的發(fā)展有利，建立或完善有效的貸款擔(dān)保制度，以幫助這些企業(yè)，提供機會，讓他們發(fā)行的股票或債券，擴大直接融資渠道，鼓勵風(fēng)險投資的發(fā)展，以促進在高，新技術(shù)的專門機構(gòu)和組織通過完善施工企業(yè)的發(fā)展，加強對這些企業(yè)的支持和財務(wù)代理建立基金，以支持其發(fā)展。對于企業(yè)自身，他們應(yīng)該努力提高勞動者素質(zhì)，增強信用意識，提高他們的信用，以及創(chuàng)造良好的信用環(huán)境。</p><p>　　總之，政府，社會和企業(yè)的共

61、同努力下，應(yīng)依靠營造良好的中小型企業(yè)的金融環(huán)境。此外，這些企業(yè)應(yīng)該充分意識到環(huán)境的重要性提供的財政策略，努力建立科學(xué)，合理，可行的戰(zhàn)略目標(biāo)和保證，進一步加強環(huán)境分析，它們的有效實施，提高其決策能力。</p><p><b>　　結(jié)論</b></p><p>　　綜上所述，多種元素與企業(yè)外部和內(nèi)部條件，應(yīng)考慮到當(dāng)他們建立自己的金融戰(zhàn)略。由于其不同的特點，小型和中小型企業(yè)