Мodernization of the enterprise based on the development of financial strategy
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The scientific article expands the theoretical basis of the concept of determining the essence
of the company’s financial strategy. The paper states that the financial strategy should be
considered in several aspects: as a component of the overall strategy of the enterprise and as an
important component that ensures the formation and implementation of each component of the
overall strategy.
The need to separate the financial component when creating the general strategy of the enterprise
is substantiated. It was determined that the financial strategy can act both as a functional strategy
and as a basic one. The theoretical consideration of the financial strategy is based on four main
concepts: environment; mission; situational analysis; resource use planning. It was determined that
for understanding the essence of financial strategy, its connection and interaction with financial
management is significant.
Based on this, it is stated that the financial strategy is a model of the company’s goals,
actions, capabilities for a strategic perspective, the basis of which is the management of financial
resources. In the scientific work, it is noted that the financial strategy is decisive in relation to
financial management, since financial management is considered as a system that implements the
financial strategy of the enterprise. Considering the concept and content of the financial strategy,
it is noted that it is mainly formed by the conditions of the macro- and microenvironment, as well
as factors that affect the general strategy of the enterprise.
The financial strategy, as well as the general strategy of the enterprise, is characterized by
three main distinguishing features: irreversibility, permanence and long-term consequences. Taking
into account the variability of the economic situation and trends in the development of financial
markets, the article defines the directions of the formation of programs and projects for the
implementation of financial strategy.
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Patlai, V. I. (2023). Мodernization of the enterprise based on the development of financial strategy. Economics and Management, 3, 60-70 [in English].