The financial strategy establishes the budgets for all organizational departments, and as such directly influences the performances and resources of the respective departments. The financial strategy ascertains whether the company would be able to adequately research the market, identify customer needs and properly address and serve the target market. The financial strategy also defines the levels of product development and specialization, which directly influences the levels of customer satisfaction and adjacently the organizational sales.
All in all, the financial strategy is one key factor in attaining organizational success and it is an integrant party of the overall business model. In other words, it has to be factored in when making any business decision and in turn, the financial strategy has to be created in such a manner that it supports the company in attaining its objectives.
In such a context then, the economic agents have to place a greater emphasis on the development of the adequate financial strategy. The specialized literature presents the reader with a wide array of models and advices on how to develop and implement the proper financial strategy.
Tony Graham (2007) for instance argues that the first step in developing the financial strategy is represented by the identification of the organizational goals, which is then followed by the identification of the interrelationships between the factors of the investment and financial decisions. Then, the third step would be represented by the analysis of the external factors which would impact the financial strategy.
As these three stages are completed, Graham recommends the evaluation of the current performances of the organization, before a new financial strategy is developed. Finally, he argues that it is necessary to create not just a single proposition of financial strategy, but a multitude of strategies, so that the deciding parties can make the best informed decision (Graham, 2007).
Economic editor Janet Shapiro at Civicus, the World Alliance for Citizen Participation, argues that the financial strategy is developed through the gradual completion of five stages. At the first level, the economic agent would complete the planning process, level at which great emphasis would be placed on prioritizing the goals, resources and other factors of importance to the company.
At the second level of...
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Business Plan for a Financial Divorce Software Business Plan Divorce Software Business Plan relating to the Sales of a new Financial Divorce Software. Business Plan relating to the Sales of a new Financial Divorce Software F F1 F2 F3 G1 G1(a) G1(b) G1(c) Business Identification Keys to Success Company Summary Industry History Legal Form of Ownership Location and Facilities Management Structure Products and Service Market Analysis Target Market Industry Analysis Competitive Analysis Market Strategy Ps of Marketing Price List Selling Strategy Sales Forecast Implementation Strategy Overall Strategy Implementation Control Plan Financial Statements and Projections Revenue and Cost Estimate Forecasted Profit and Loss Statement Forecasted Balance Sheet Financial
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