The formulation of financial strategy is related to the development of enterprises, especially in the fierce market competition environment, enterprises need to accurately predict and judge the market development situation, and then formulate scientific and reasonable financial strategy according to the actual production situation of enterprises. Based on this, this paper mainly discusses the connotation and characteristics of enterprise financial strategy, the construction requirements of enterprise financial strategy and the construction and implementation of enterprise financial strategy.

Keywords: corporate finance; Financial strategy; Architecture; Life cycle; cash flow

In the process of enterprise management, all economic activities need to be strictly controlled within the scope of financial strategic planning and run according to the expected trajectory to ensure the healthy and stable development of enterprises. The main goal of formulating financial strategy is to improve the financial management level of enterprises and promote the growth of economic benefits of enterprises. Financial strategy is a long-term and reasonable planning of enterprise funds to ensure the reliable and stable operation of enterprise funds, which has phased goals in the process of enterprise development. On the basis of ensuring the safe operation of enterprise funds, give full play to the efficiency of fund operation and create favorable conditions for enterprise development.

First, the connotation and characteristics of corporate financial strategy

(A) the connotation of financial strategy

Financial strategy is an important part of enterprise development strategy, and its main purpose is to ensure the stable development of enterprises and realize the rational operation of funds. When making financial strategy, it is necessary to accurately analyze and judge the internal and external environment, study its influence on the financial development of enterprises, and then make a reasonable plan for the capital flow of enterprises in combination with their own financial development status. On the whole, ensuring its safe operation in a long period of time and ensuring the balance of enterprise capital flow has certain guiding significance for the development of enterprises, and its main purpose is to improve the economic benefits of enterprises. The formulation of financial strategy is directly related to the management level of enterprises. When making financial strategy, we should follow the principles of long-term, rationality, balance, overall situation and innovation that are suitable for the overall strategy of enterprise development, so as to promote the sustainable development of enterprises.

(B) the characteristics of financial strategy

1. Systematization. The implementation of enterprise financial strategy needs to consider the external social environment and the formulation of other strategies within the enterprise, and it needs to cross with various information resources in the operation process. Financial strategy is systematic and needs to be considered as a whole. Under the condition of maintaining long-term and stable contact with the outside world, it also needs to complement other strategies within the enterprise.

2. dependence. All the strategies in the enterprise are formulated to promote the long-term development of the enterprise, so the formulation of financial strategy needs to meet the needs of the overall development strategy of the enterprise and provide a stable capital flow for the normal operation of the overall strategy of the enterprise, thus embodying the essential significance of financial strategy.

3. complicated. The formulation of financial strategy needs to fully consider the formulation of other sub-strategies within the enterprise and the demand for other strategic funds, and once the use and operation procedures of funds are determined, it is difficult to change. When investing and raising funds, it is more difficult to formulate financial strategy in the face of ever-changing market situation, so it is more complicated to formulate financial strategy.

Second, the requirements of enterprise financial strategy construction

1. Maximize the value of stakeholders. In the business ecosystem, no enterprise exists independently, but a business circle composed of various business elements, thus ensuring the effective operation of commercial funds. These commercial factors restrict each other and have the same interests. The formulation of enterprise financial strategy should not be limited to the maximization of its own interests, but should proceed from the overall situation to ensure the maximization of enterprise value. In other words, it is to maximize the value with enterprise stakeholders. Among them, suppliers, customers, creditors and employees are all stakeholders of the enterprise. Only by not destroying the development trend of the environment and creating value for the whole value chain can the essential significance of financial strategy be fully exerted. Only when the whole business ecosystem is in a harmonious state can we promote the development of enterprises' own interests. Therefore, the formulation of enterprise financial strategy should proceed from the overall situation and focus on the overall interests.

2. Based on risk management. In the fierce market competition environment, the formulation of enterprise financial strategy needs to be based on risk management, scientifically predict and analyze the uncertain factors in economic development, and then establish a risk early warning mechanism. In the face of risks, measures can be taken in advance to minimize the possible losses of enterprises by avoiding risks, transferring risks and dispersing risks. Therefore, when making a financial strategy, enterprises should set up a financial risk assessment team to correctly assess and predict the economic development situation of the market, have the ability to identify risks, and correctly understand the relationship between risks, costs and benefits, so as to ensure the scientific and rational formulation of financial strategies.

3. Take competitive advantage as the driving force. With the rapid development of information technology, enterprise scale is no longer the main competitive advantage. Facing the huge market business operation system, enterprises need to constantly innovate their competitive advantages, so as to strive for more consumer groups. When making financial strategies, enterprises need to make in-depth analysis of consumer groups and competitors, so as to make targeted financial strategies and improve their competitive advantages.

Third, the formulation and implementation of corporate financial strategy.

(A) financial strategy formulation procedures

1. Analysis of financial strategic environment. The formulation of enterprise financial strategy is inseparable from the influence of environmental factors, so when formulating financial strategy, it is necessary to fully analyze the internal and external environment and make correct decisions after knowing the specific situation in detail. The external environment mainly includes macro environment, industrial environment and competitive environment, which is an important factor affecting the direction of financial strategy formulation. Internal environment mainly refers to factors such as enterprise management mode, production scale and financial operation system, which is an important factor affecting the details of financial strategy formulation. Therefore, it is necessary to predict and judge the internal and external environment scientifically and reasonably to ensure the scientific and reasonable financial strategy of enterprises and provide favorable conditions for the development of enterprises.

2. Determine the content of financial strategy. The formulation of financial strategy is directly related to the future development of enterprises, so enterprise leaders need to accurately judge the development situation of market economy, and then formulate appropriate financial strategy according to the actual production situation of enterprises, so as to ensure that enterprises can implement according to the predetermined plan in the future, keep consistent with the financial strategic objectives, and finally promote the development of enterprises.

3. Establish financial strategic objectives. The formulation of financial strategic objectives is the core of the whole financial strategy. Only when a clear goal is determined can the content of financial strategy be determined. When determining the goal, it needs to be consistent with the overall strategy of the enterprise, and can provide a stable supply of funds for the implementation of other strategies.

4. Make a financial strategic plan. According to the requirements of the internal and external environment and financial strategic objectives of the enterprise, several alternative schemes to achieve the objectives are drawn up. Through analysis and demonstration, on the basis of weighing the advantages and disadvantages, choose the best scheme to realize the financial strategic goal.

(B) the implementation and control of financial strategy

1. Make a medium-term plan. Medium-term plan is a plan between long-term strategy and action plan. In terms of time, it is generally within 1~3 years. In terms of content, it includes more comprehensive content than the Action Plan. When the time span of financial strategy is not very long, the medium-term plan is often an annual plan.

2. Draw up an action plan. Action plan is a concrete method to implement the plan and an important link in the implementation of financial strategy. The level of action plan is directly related to the final effect of a project implementation in financial strategy, and then affects the overall deployment of financial strategy. Therefore, the formulation of the action plan must be determined according to the specific situation of a financial activity to ensure the smooth implementation of the financial strategy.

3. Prepare the financial budget. Financial budget is an important embodiment of financial strategy in concrete implementation, which can clearly reflect the implementation steps and detailed rules of financial strategy. The preparation of financial budget should reasonably allocate the use of various funds according to the content and objectives of financial strategy. This is a concrete, systematic and quantitative process, which is an important embodiment of financial strategic deployment and should be paid enough attention to.

4. Determine the working procedures. The working procedure specifies the steps and methods to complete an action or task. When determining the working procedures in the process of implementing financial strategy, enterprises must reasonably arrange manpower, material resources and financial resources to meet the requirements of financial strategic objectives.

5. Implement strategic control. Strategic control is to take certain measures to ensure that the implementation process of financial strategy is consistent with the predetermined goal, and can be corrected in time under the interference of other factors, creating favorable conditions for the smooth implementation of financial strategy.

Four. conclusion

Financial strategy is of great significance to the healthy and stable development of enterprises, so we should be cautious in formulating financial strategy. On the basis of analyzing the development situation of market economy and according to the present situation of enterprise's own management, a scientific and reasonable financial strategy should be formulated. The formulation of financial strategy needs to consider all links in the process of enterprise development and operation, ensure sufficient capital supply for the development of various businesses, and track and manage the capital flow in the process of project implementation to ensure the safety and efficiency of capital operation. The formulation of financial strategy should proceed from the overall situation and make an overall plan for the allocation of funds of enterprises to ensure the balanced and stable development of enterprise funds in a long period of time. At the same time, we should do a good job in financial risk management. Facing the complicated and changeable market economy situation, we need to have the ability to identify risks, improve the risk early warning system and ensure the safe operation of enterprise funds. Enterprise financial strategy is an important part of the overall strategy of the enterprise, which is closely related to the healthy and stable development of the enterprise. Therefore, it is necessary to continuously improve the level of financial strategy and lay a solid foundation for the sustainable development of enterprises.

References:

Xu Guanghua, Shen Yi. Enterprise financial strategy and its realization path [J]. Accounting Research, 20 1 1(2).

[2] Wu Qun. Strategic innovation to promote the long-term development of small and medium-sized finance [J]. Economically, 20 10( 1 1).

[3] Cai Weican, Li Chunyu. Enterprise financial strategy based on maximizing the interests of stakeholders [J]. Economic Management, 20 12(7).

[4] Jiang Weiping. Enterprise financial strategic management: the theoretical perspective of enterprise capability [J]. Financial Theory and Practice, 2011(11).

;