中小企业的财务战略外文翻译.docVIP

外文 原文 Corporate Financial Strategy in SMEs Material Source: Proceedings of the World Congress on Engineering 2009 Vol II ， WCE 2009, July 1 - 3, 2009, London, U.K Author: Jaroslav Pavlí?ek, Member, IAENG Abstract—Company strategy expresses a basic idea of how to reach company objectives. A whole range of models of strategic management are used in practice. The financial strategy plays an important role in corporate strategy. The paper develops a methodology of strategic model implementing into the category of micro, small and medium-sized enterprises (SMEs).Furthermore, the methodology recommends procedures while solving an up-to-date worldwide task of the definition of the financial strategy. Index Terms – financial strategy, company strategy, corporate planning I. INTRODUCTION This paper has been prepared for a Czech engineering company. The company was incorporated six years ago. Its customers are international legal entities. None of the customers has more than a seven percent share in the turnover of the company for reasons of risk distribution. II. PROBLEM SOLVED The company has no strategic financial management, and its turnover is decreasing. The definition of the financial strategy should help the company to improve its position within the market. The company intends to invest into suitable properties to secure its expansion. In order to do so it is essential to prepare financial strategy that would verify objectivity of the specific investment. III. THEORETICAL CONCEPTS USED Professional literature shows many various concepts,approaches and attitudes to strategic management [1]-[12].The inability to define one single concept of strategic management which would be ideal for all strategic decisions is based primarily on the fact that decisions are usually non-recurring, and what’s more they are often badly structured, and therefore they do not allow the evaluation of all relevant information.The basic strategic management concep