The document discusses the key concepts of strategic management including defining strategy as long-term plans to achieve organizational goals, the difference between strategy and management, elements of strategic management like vision, mission, goals and objectives, and the importance of strategic management in improving sales, profitability, and problem prevention capabilities for organizations. It also compares the differences between operational management which focuses on day-to-day efficiency, and strategic management which takes a holistic internal and external view to formulate long-term plans.
Introduction
Meaning and definition of financial management;
Approaches to financial management;
Scope of financial management;
Functions of financial management;
Corporate objectives:
Profit Maximization and
Wealth Maximization
Other objectives
Social implications of corporate objectives
Concept of cash flow
Time value of money
What is Finance, Approaches to finance function, Traditional approach, Modern approach, Limitations Of Traditional Approach, Profit maximization approach, Wealth Maximisation approach,
Introduction
Meaning and definition of financial management;
Approaches to financial management;
Scope of financial management;
Functions of financial management;
Corporate objectives:
Profit Maximization and
Wealth Maximization
Other objectives
Social implications of corporate objectives
Concept of cash flow
Time value of money
What is Finance, Approaches to finance function, Traditional approach, Modern approach, Limitations Of Traditional Approach, Profit maximization approach, Wealth Maximisation approach,
Strategic financial management[1] is the study of finance with a long-term view considering the strategic goals of the enterprise. Financial management is nowadays increasingly referred to as "Strategic Financial Management" so as to give it an increased frame of reference.
To understand what strategic financial management is about, we must first understand what is meant by the term "Strategic". Which is something that is done as part of a plan that is meant to achieve a particular purpose.
Therefore, Strategic Financial Management is that aspect of the overall plan of the organization that concerns financial managers. This includes different parts of the business plan, for example, marketing and sales plan, production plan, personnel plan, capital expenditure, etc. These all have financial implications for the financial managers of an organization.
What are objectives of financial management?Nageshwar Das
What are Objectives of Financial Management? with Describe Definition, Meaning, Nature and Scope! Financial management is one of the functional areas of business. Therefore, its objectives must be consistent with the overall objectives of the business. The overall objective of financial management is to provide maximum return to the owners on their investment in the long- term. This is known as wealth maximization. Maximization of owners’ wealth is possible when the capital invested initially increases over a period of time. Wealth maximization means maximizing the market value of investment in shares of the company.
What is Finance?
Meaning & Definition of Financial management
Goals of Financial Management
Key decisions of Financial management
Case study
Factors / Determinants of Financial Management
Organizational structure
Auditors independence
Independence of the internal auditor
Independence of the external auditor
Types of independence
Real independence and perceived independence
RELATIONSHIP BETWEEN AUDITING WITH OTHER SUBJECTS
Financial management - its importance and objectivesRobert Smith
This Presentation gives us information about Financial Management. It gives us details about importance and objectives of Financial Management. Financial Management is all about obtaining funds and how to use that fund.
Strategic financial management[1] is the study of finance with a long-term view considering the strategic goals of the enterprise. Financial management is nowadays increasingly referred to as "Strategic Financial Management" so as to give it an increased frame of reference.
To understand what strategic financial management is about, we must first understand what is meant by the term "Strategic". Which is something that is done as part of a plan that is meant to achieve a particular purpose.
Therefore, Strategic Financial Management is that aspect of the overall plan of the organization that concerns financial managers. This includes different parts of the business plan, for example, marketing and sales plan, production plan, personnel plan, capital expenditure, etc. These all have financial implications for the financial managers of an organization.
What are objectives of financial management?Nageshwar Das
What are Objectives of Financial Management? with Describe Definition, Meaning, Nature and Scope! Financial management is one of the functional areas of business. Therefore, its objectives must be consistent with the overall objectives of the business. The overall objective of financial management is to provide maximum return to the owners on their investment in the long- term. This is known as wealth maximization. Maximization of owners’ wealth is possible when the capital invested initially increases over a period of time. Wealth maximization means maximizing the market value of investment in shares of the company.
What is Finance?
Meaning & Definition of Financial management
Goals of Financial Management
Key decisions of Financial management
Case study
Factors / Determinants of Financial Management
Organizational structure
Auditors independence
Independence of the internal auditor
Independence of the external auditor
Types of independence
Real independence and perceived independence
RELATIONSHIP BETWEEN AUDITING WITH OTHER SUBJECTS
Financial management - its importance and objectivesRobert Smith
This Presentation gives us information about Financial Management. It gives us details about importance and objectives of Financial Management. Financial Management is all about obtaining funds and how to use that fund.
Introduction of Strategic Management.pptxKhubaibHikmat
The following topics are briefly explained in this ppt:
1- Understand the concept of strategy and strategic management.
2- Describe the stages of strategic management.
3- Explain strategic management model.
4- Understand important terms in strategic management.
5- Understand the nature of strategy.
Module 1
Unit 1 Introduction to Strategic Management
a) Concept and process of Strategic Management, Benefits and Risks of
Strategic Management, Vision and Mission,
b) Functional Strategies: Human Resource Strategy, Marketing Strategy,
Financial Strategy, Levels of Strategies: Corporate, Business and Operational
Level Strategy
Unit 2 Strategy Formulation, Implementation and Evaluation
a) Strategic Formulation: Issues of strategic Choice, Stages and Importance of
strategic Formulation, Formulation of Alternative Strategies: Mergers and
Acquisitions, Joint Ventures, Diversification, Turnaround, Divestment and
Liquidation.
Concept and process of Strategic Management, Benefits and Risks of
Strategic Management, Vision and Mission,
b) Functional Strategies: Human Resource Strategy, Marketing Strategy,
Financial Strategy, Levels of Strategies: Corporate, Business and Operational
Level Strategy
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
2. Meaning of SM
What is strategy?
What is management?
Strategy= Long term Plan
Management= Art of getting things by others
3. Concept of strategy
In Military Principle =“Strategy” is Derived from Greek word “Strategos”
Which means “Generalship” (Skills or Practices)
Strategy is a Plan of Action to win a war
In BusinessPrinciple
Strategy is an action that managers take to attain one or more of the
organizational goals.
Examples:
1. A cricketer have a strategy how to face the ball
2. A goal keeper have a strategy to stop the football.
4. Concept of strategy
A strategy is a plan of action, design to achieve the basic objectives of a
business.
A strategy is a high level future plan of action, undertaken by senior
management at a high level of abstraction, to achieve one or more goals
under conditions of the uncertainty.
Definitions
Strategy is a plan of action or policy designed to achieve a major or overall
aim-------Oxford Dictionary
Strategy is the way in which management chooses and utilises the firm
resources within its environment to reach the objectives--- J Stand Ford
5. Features of strategy
1. Future oriented
2. Deals with long term developments
3. Deals with the environment
4.
7. Vision statement
Vision statement is a sentence or short paragraph
providing a broad aspiration image of the future.
“an image of the future we seeks to create is vision”
Vision serves the purpose of stating what an
organization wishes to achieve in the long run.
8. Vision statement
Definitions
MILLER and DESS defined vision as the “category of intentions that are
broad, all inclusive and forward thinking”
Examples
Envisioning the power of mind (“Dhiyo yo naha
prachodayath“)---VSK University
My SBI : First in Customer Satisfaction---SBI
9. vision statement
Features of Good vision Statement
1. It indicates the whole corporate philosophy
2. At most clarity
3. Well anticipated but easy to understand
4. Realistic and achievable aspirations
5. Future focus
10. mission statement
Mission statement is defined as short sentences or short
paragraph written by the companies, corporations or
Business which reflects their core purpose, identity,
values and principles.
In other words mission is what an organization is and
why its exists.
definitions
According to Hunger & Wheelem defined as “purpose
or reason for the organization existences”.
11. mission statement
Examples
To provide equality banking services with enhanced
customer orientation, higher value creation for
stakeholders and to continue as a responsive
corporate social citizen by effectively blending
commercial pursuits with social banking
------------ Canara Bank
To keep common man in sharper focus to encourage
savings and investment habits among them
--------------- UTI
12. mission statement
Characteristics
1. It should be feasible or realistic
2. It should be precise or specific
3. It should be clear and clarity
4. It should be motivating
5. It should be distinctive
13. goal
Goal means “what an organisation hopes to
accomplish in a future period of time”, they
represent a future state or an outcome of the effort
that putting in now.
It is precise and measurable desired future state that a
company attempts to realise.
Examples
Growth, innovativeness, high profits as a barometer of
efficiency, highly involved employees distinctively
charge with pride----------------- Canara Bank
15. Objective/aims
Objectives or aims that organisation wishes to achieve
over a period of time. They are intended end results
that an organisation desires to achieve over varying
periods of time. Hence an objectives may be set for
long term, medium term and short term.
Features of Objectives
1. Understandable
2. Relating to time frame
3. Measurable & controllable
4. Objectives should co-relate each other.
16. Strategic management
It is managerial process of making strategies towards
organisational objectives.
Strategic management is the art and science or
formulating, implementing and evaluation of cross
functional decisions, that will enable an organisation
to achieve its objectives.
definitions
SM is a stream of decisions and actions which leads to
the development of an effective strategies or strategy
to help to achieve corporate objectives
------------------ William F Gluk
17. Strategic management
definitions
“SM is a set of decisions and actions resulting in
formulation, implementation, evaluation and control
of strategies to realise the organisation strategy
intent.”
---------- John and Richard
18. Strategic management
Features
1. Decision making process
2. Wider application
3. A continuous process
4. Resource management
Benefits of SM
1. It defines the goals and mission of the organisation
2. It helps organisations to be proactive instead of
reactive in shaping the future
19. Strategic management
Benefits of SM
3. It provides framework for all major decisions of an
enterprise
4. It prepares the organisations to face the future and act
as path finder to various business opportunities.
limitations of SM
1. Environment is highly complex and dynamic
2. SM is a time consuming process
3. It is a costly process
4. The future does not unfold as anticipated
20. Strategic management
Importance/role/ of SM
1. Improvement in sales
2. Improvement in profitability
3. Improvement in productivity
4. Enhanced problem prevention capability
5. Provides a framework for decision making
21. Diffe n b/w operational and strategic management
Operational management Strategicmanagement
Operational management is concerned
with the day to today activities required to
produce goods and services
Strategic management is concerned with
formulation and implementation of long
term plans, policies etc.
Operational management takes an internal
view(controllable)
Strategic management takes a hollistic
(both internal and external) views
Operational management focuses on
efficiency
Strategic management focuses on
effectiveness and ability