The evolution of scientific views on strategic financial planning abroad

Directory of Open Access Journals (Sweden)

Vorobyev Alexey Vyacheslavovich

2012-09-01

Full Text Available This article deals with the genesis of scientific views on strategic financial planning abroad. The allocation process of strategic planning of functional strategies, particularly financial. Given the systematization of conceptual approaches to strategic financial planning within evolution.

Strategic Management in Hybrid Organizations

NARCIS (Netherlands)

Joldersma, F.; Winter, V.

2002-01-01

Many public service organizations have to deal with rapidly changing environments. Government offers less financial security than in the past and stimulates organizations to develop a market orientation. The focus of this article is explaining the shape of strategic management in public service

Strategic supply cost management: physician preference without deference.

Science.gov (United States)

Ballard, Rand

2005-04-01

Strategic supply chain management differs from traditional supply chain management in that it leaves nothing to chance: It takes into account physician preference in product selection and pricing. It does not allow vendors to bypass supply chain leaders. Its leaders require a broad understanding of strategic, financial, and clinical issues. Its leaders are accountable for maintaining control over supply costs across the board.

A Model of System and Strategic Financial Analysis of the Crimean Health Resorts

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Vadim Anatolyevich Malyshenko

2016-06-01

Full Text Available The subject matter of the research is the system of strategically focused financial analysis regarding an assessment of the financial condition of the enterprise. The hypothesis of the study is to assume the possibility of developing the financial and strategic model of the comprehensive assessment of the financial condition taking into account the integrated impact of environmental factors (general for the most Crimean health resorts. The methodology of the work is based on the most general principles of system analysis. The basic method of the research is the matrix method as the most common one for the system analysis. The graphical and statistical methods are also used. The result of the work is the comprehensive method of financial analysis developed as a model based on the matrix relation between the original visual profile of the internal environment and the dynamic type of external environment. The difference of the visual model of financial state from the existing graphic methods consists in fixing of the new strategic types of financial state on the basis of financial stability in visually grouped areas of financial coefficients in theme groups (configurationsprofiles with certain combinations of the forms and sizes. The new analytical instrument of «frigate model» can be applied in all analytical activities of the health resorts departments related to the analytical assessment of financial state. The advantage of «frigate model» in comparison with a classical method of the forming of the types of financial condition is that the proposed model allows to allocate more differentiated types and in addition, to identify the stages of enterprise life cycle based on the relative indicators of the analysis of financial state (objects-coefficients, and not just on the financial management. Through this, the consistency of interaction between the financial analysis and management is achieved.

FORMATION OF FINANCIAL SECURITY OF THE ENTERPRISE BASED ON STRATEGIC PLANNING

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Nadiya Rushchyshyn

2017-09-01

performers; necessary material, labour, and investment resources. When ensuringthe financial security of the company, a special attention should be paid to the innovative development of theenterprise. The basis for the innovative development of an enterprise is the innovation potential, its formation andutilization in innovation activity. The algorithm of the strategic tasks ensuring the innovative financial security of theenterprise is proposed. The correlation between financial security and innovative development of the enterprise isexplored, which is dual in nature, where both phenomena serve as the purpose of the enterprise and means of itsachievement. Conclusions. Strategic planning at the enterprise, which is the basis for ensuring its financial security,will facilitate the creation of all opportunities for further financial and economic activity with positive results. At thesame time, strategic planning should be based on the use of a number of measures: increase of the innovative andintellectual potential of the enterprise; use of advanced international experience in the management of material,labour, and financial resources of the enterprise; raising the skills of employees, etc. Further research should beaimed at developing and implementing an effective innovation policy that can provide long-term competitivenessof domestic enterprises and increase their financial security.

CONCEPTUAL CLARIFICATION OF PLANNING AND STRATEGIC THINKING IN HUMAN RESOURCE MANAGEMENT

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Matei ȘTEFAN

2013-10-01

Full Text Available Many of the concepts and techniques for strategic management have been developed and successfully applied within many companies. As managers are trying to manage better and to face the changes in economical climate, a company develops over four phases of strategic actions and management. These phases consist of basic financial planning, prognosis-based planning, external environment oriented planning and strategic management. Moreover, strategic management consists of four basic elements which ensure a structured format for examination of company strategies: scanning the business environment, strategy formulation, strategy implementation, evaluation and control.

Foreign Strategic Investment and China’s Financial Security

Institute of Scientific and Technical Information of China (English)

朱盈盈; 曾勇; 李平; 何佳

2008-01-01

We analyze the background, status quo and characteristics of introducing foreign strategic investors into Chinese banks, and summarize various arguments on this issue. Our conclusions are as follows: introducing foreign strategic investors into Chinese banks is a necessary step in the reform and opening of China’s banking sector, and is encouraged by the regulatory authorities; introducing foreign strategic investors into Chinese banks has presented some unique features; from the perspective of control of financial resources, under the current institutional and legal regimes, introducing foreign strategic investors will not threaten China’s financial security; there is no convincing evidence that Chinese banks have been sold short with the introduction of foreign strategic investors; the results of strategic investment remain to be seen.

Business owner and manager’s attitudes towards financial decision-making and strategic planning: Evidence from Croatian SMEs

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Marina Klačmer Čalopa

2017-01-01

Full Text Available The main goal of the paper was to explore the attitude of business owners and managers in the small and medium sized companies (SMEs in Croatia toward financial decision-making and strategic planning. In addition, it is attempted to identify managers’ styles and entrepreneurial skills, as well as the level of their financial knowledge. Data was gathered using online questionnaire method and analyzed with standard tools of descriptive statistics. The research sample consisted of 106 respondents from SMEs in Croatia (14% response rate. Research results reveal that business owners and managers are concerned about financial results but, unfortunately, do not influence the financial decision-making in all of its stages. The study could contribute to a better understanding of attitudes of Croatian SMEs business owners and managers toward financial decision-making and strategic planning.

Just In Time Value Chain Total Quality Management Part Of Technical Strategic Management Accounting

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Lesi Hertati

2015-08-01

Full Text Available This article aims to determine Just In Time Value Chain Total Quality Management tqm as a technique in management accounting stategis.Tujuan Just In Time value chain or value chain Total Quality Management TQM is strategic for customer satisfaction in the long term obtained from the information. Quality information is the way to continuous improvement in order to increase the companys financial performance in the long term to increase competitive advantage. Strategic Management Accounting process gather competitor information explore opportunities to reduce costs integrate accounting with emphasis on the strategic position of the competition is a great plan. An overall strategic plan interrelated and serves as the basis for achieving targets or goals ahead.

THE SIGNIFICANCE OF MANAGEMENT INFORMATION SYSTEMS FOR ENHANCING STRATEGIC AND TACTICAL PLANNING

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Akram Jalal Karim

2011-08-01

Full Text Available Management Information Systems (MIS is the key factor to facilitate and attain efficient decision making in an organization. This research explores the extent to which management information systems implemented to make successful decisions at two selected financial organizations. The research examined whether the selected financial institutions of Bahrain vary as to the use of Management Information Systems leadership of decision making for strategic and tactical planning purposes. The research adapted the quantitative research design to examine two research hypotheses. A total of 190 forms were equally distributed to those who are working at different management levels at the selected organizations. The results of the research showed that MIS was primarily used to enhance strategic planning in both financial institutions. The regression analysis revealed that Tactical planning is found to have no effect on Decision Making, while Strategic planning has a clear effect on the Decision Making Effectiveness in both organizations

APPLICABILITY OF A STRATEGIC MAP UNDER THE PERSPECTIVE OF CRITICAL FACTORS FOR PROJECT MANAGEMENT MATURITY AT A LARGE FINANCIAL INSTITUTION

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Sady Darcy da Silva Junior

2012-01-01

Full Text Available Project Management and Strategic Management are two subjects of major relevance within the corporate environment, despite usually being treated separately, at organizations. However, for Westphal et al. (2008 one of the ways to link project management and strategy is through project management maturity, and to this effect, a series of actions that can be characterized as critical factors (Rabechini Jr. & Pessoa, 2005 are required. Another way of seeking this connection is by means of the strategic map concept which, according to Kaplan and Norton (2004, p.10, “represents the lost link between strategy formulation and the execution of the strategy”. In this study the purpose is to evaluate the applicability of a strategic map, from a critical factors perspective, on project management maturity, as proposed by Silva Jr. and Luciano (2010. Thus a qualitative and exploratory approach case study was conducted at a large financial institution, where three interview scripts were applied on nine professionals, whereby three were leaders, three were project managers and three, functional managers. Furthermore, a graphical representation standard was designed picturing possible situations concerning the applicability of strategic objectives of the map proposed in the case under study. As a result, an important academic contribution to the vague and scarce literature on the relationship between project management and organizational strategy was verified, in addition to mapping possibilities of improvements for the organization, which otherwise might have been impossible to identify.

UTILITY OF ANNUAL FINANCIAL STATEMENTS IN THE MANAGEMENT PROCESS

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PUICAN LILIANA

2015-07-01

Full Text Available Process knowledge of the financial situation of the economic entity presupposes the use of analysis and synthesis, as indispensable tools of investigation. Financial management of the economic entity have to belong to the basic role in strategic financial decisions that would solve the problem of effective management of the process optimal growth, balanced and proportionate entity. That is why it becomes necessary and imperative objective analysis of the implications of the current financial management in economic entities familiarize managers with the basic tools with which they operate, acquiring knowledge about planning and financial control, evaluation techniques of investment projects, about how to conduct financial and economic diagnosis and management control of the entity, the key issues in its orientation towards performance.

Essentials of Risk Management. Strategic Decisions. Board Basics.

Science.gov (United States)

Sonenstein, Burton; Kumin, Laura A.

1998-01-01

This booklet, intended for trustees of institutions of higher education, offers some instruction on the principles of risk management. Introductory information provides a definition of risk management, which is seen as a planning and strategic function, not solely as a financial or safety assessment. Individual sections then address the following…

470 Teamwork Effectiveness in the Financial Management Sector ...

African Journals Online (AJOL)

2015-08-27

Aug 27, 2015 ... Principles, theoretical concepts and factors affecting ... Keywords: Team, Teamwork, Effectiveness, Financial, Management,. Companies, Strategic ..... The response rates were higher from the Accounting, Client Service and.

Introduction of policy of management of financial risks in LLC Tekhosnastka

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N. N. Kudryavtseva

2017-01-01

Full Text Available Proposed the technique of development of the system of actions to implementation of the effective development strategy of the enterprise is described. Control of financial risks of the enterprise represents a part of activities of the financial manager. Each enterprise for support of stable operation in the future, shall have accurately definite purposes. The most effective system of management is the system of strategic management which demands from principals of understanding of an entity of strategy, use of receptions and methods of strategic management, development of strategic plans. From here, strategy shall change and adapt to change of conditions, both the external, and internal environment. Therefore, the business management problem is urgent. The analysis of the specified problems showed absence of effective management of the enterprises taking into account risk situations. Now there are no effective techniques and models of business management representing the relations of the economic subject assuming correlation in provision and consuming of goods and services. The policy of control of financial risks represents a part of the general financial strategy of the enterprise consisting in system development an action for neutralization of possible negative financial consequences of the risks connected to implementation of different aspects of financial activities. Within this policy the list of financial risks is defined. The most significant financial risks are identified and by means of a ball scale ranging of risks is made and the curve of accents is defined. The conclusion is drawn on a status of a problem of financial risks at the enterprise: the most priority risk is the risk of lowering of financial stability (or risk of violation of equilibrium of financial development, it has the greatest assessment. Further risks of insolvency (or risk of unbalanced liquidity the enterprises and criminogenic risk follow. The least priority is

THE IMPLEMENTATION OF STRATEGIC MANAGEMENT ACCOUNTING BASED ON VALUE CHAIN ANALYSIS: VALUE CHAIN ACCOUNTING

OpenAIRE

KIRLI, Mustafa; GÜMÜŞ, Harun

2011-01-01

To compete successfully in today’s highly competitive global environment, companies have made customer satisfaction an overriding priority. They have also adopted new management approaches, changed their manufacturing systems and invested in new technologies. Strategic management accounting examines the decision-making linked with the business operations and strategic work of financial administration as support for the same. Strategic management accounting is a theory and practice of ac...

BUSINESS PROCESSES TRANSFORMATION IN THE METHODOLOGY OF MULTILEVEL FINANCIAL MANAGEMENT

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Andrey G. Mikheev

2016-01-01

Full Text Available The article discusses the application of process approach to financial management. The multilevel financial management methodology is described. It is based on the delegation of the financial management functions in the downstream division of the organization, process automation, transfer of financial resources between units of different levels of the hierarchical structure of the credit institution, the implementation of a financial management mechanism of the process approach, execution of business processes in the computer environment, using the strategic management of the organization by changing the coefficients, which are the parameters of decentralized control mechanism, using the construction of the «fast» financial indicators, taking into account the terms of financial resources transfer transactions and effective transformation of business processes. The article is focused on the credit institution business management through the application of process transformation to transfer funds business processes.

Strategic cost management as the main component of strategic management accounting

OpenAIRE

Ходзицька, Валентина Василівна

2013-01-01

The influence of cost management on making management decisions and functioning of the system of strategic management accounting was analyzed in the paper. The main aspects of the influence of strategic management accounting on making effective management decisions in the system of integrated management of business entities were highlighted. The scope of the organizational activity, covered by the strategic management accounting was described.The paper shows the orientation of strategic manag...

Integrating financial and strategic planning.

Science.gov (United States)

Pivnicny, V C

1989-09-01

As hospitals face mounting profitability and liquidity concerns, the need to integrate strategic and financial planning also will continue to grow. This article describes a process for integrating these planning functions and the ideal organizational framework to facilitate the process. Obstacles to the integration of these planning processes also are discussed.

INTEGRATION OF FINANCIAL AND NON-FINANCIAL REPORTS UNDER MANAGEMENT CONDITIONS

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Mihail PRODANCIUK

2013-02-01

Full Text Available The paper presents the assessment of the development of integrated reports overseas and describes the stages of establishment of such a system. The form and structure of corporate reporting is developed, and is differentiated, reflecting the integrated information regarding aspects of financial and non-financial activity: statistical indicators, economical, financial and social, company strategy, future cash flows, the value of human capital, and the stability of the business model. Goals and objectives of corporate reports are determined, which consist in providing reliable information on all company activities in accordance with strategic objectives and management models. The structure of the integrated report takes into consideration the requirements of the management system, of the legislative bodies and other institutions, and is considered the basis for the development of branch reports models. Its structure will depend on the size of the legal-organizational form and the social value of the company in society. The author of the article suggests three approaches to achieving corporate reports in the section of social responsibility indicators; where each company chooses the form of reporting in accordance with the available categories that depend on the size and strategic policy. The suggested integrated reports are instrumental to the observance of the stable development doctrines and will become a tool that, in the near future, will ensure the company an effective interaction with financial markets and the stakeholders of market relations.

Integration of financial and non-financial reports under management conditions

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Prodanciuk Mihail

2013-02-01

Full Text Available The paper presents the assessment of the development of integrated reports overseas and describes the stages of establishment of such a system. The form and structure of corporate reporting is developed, and is differentiated, reflecting the integrated information regarding aspects of financial and non-financial activity: statistical indicators, economical, financial and social, company strategy, future cash flows, the value of human capital, and the stability of the business model. Goals and objectives of corporate reports are determined, which consist in providing reliable information on all company activities in accordance with strategic objectives and management models.The structure of the integrated report takes into consideration the requirements of the management system, of the legislative bodies and other institutions, and is considered the basis for the development of branch reports models. Its structure will depend on the size of the legal-organizational form and the social value of the company in society. The author of the article suggests three approaches to achieving corporate reports in the section of social responsibility indicators; where each company chooses the form of reporting in accordance with the available categories that depend on the size and strategic policy. The suggested integrated reports are instrumental to the observance of the stable development doctrines and will become a tool that, in the near future, will ensure the company an effective interaction with financial markets and the stakeholders of market relations.

Analysis of financial cost models of strategic planning

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Vorobev Aleksei Viacheslavovich

2013-11-01

Full Text Available This article analyzes the cost of financial models for strategic planning. Shows the strengths and weaknesses of the model, economic value added EVA (Economic Value Added. Necessity of further development of methods for determining financial policy priorities.

Can Management Practices Make a Difference? Nonprofit Organization Financial Performance during Times of Economic Stress

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QIAN HU

2017-12-01

Full Text Available The economic crisis presented unprecedented challenges to nonprofit organizations to sustain their services. In this study, we examined both financial and management factors that influence the financial performance of nonprofit organizations during times of economic stress. In particular, we investigated whether strategic planning and plan implementation, revenue diversification, and board involvement help nonprofit organizations deal with financial uncertainty and strengthen financial performance. Despite the negative impacts that the economic downturn had on nonprofit organizations, we found that the implementation of strategic plans can help nonprofit organizations reduce financial vulnerability. Our findings call attention to key management factors that influence the financial performance of nonprofit organizations.

Strategic Management Tools and Techniques Usage: a Qualitative Review

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Albana Berisha Qehaja

2017-01-01

Full Text Available This paper is one of the few studies to review the empirical literature on strategic management tools and techniques usage. There are many techniques, tools and methods, models, frameworks, approaches and methodologies, available to support strategic managers in decision making. They are developed and designed to support managers in all stages of strategic management process to achieve better performance. Management schools provide knowledge of these tools. But their use in organizations should be seen in practice‑based context. Consequently, some questions arise: Do they use these strategic tools and techniques in their workplace? Which strategic tools and techniques are used more in organizations? To answer these questions we have made a review of empirical studies using textual narrative synthesis method. Initially, this study presents a tabulation with a summary of empirical research for the period 1990–2015. The included studies are organized clustering them by enterprise size and sector and by country level development. A synopsis of the ten most used strategic tools and techniques worldwide resulted as follows: SWOT analysis, benchmarking, PEST analysis, “what if” analysis, vision and mission statements, Porter’s five forces analysis, business financial analysis, key success factors analysis, cost‑benefit analysis and customer satisfaction.

Strategic management of a family-owned airline

DEFF Research Database (Denmark)

Boyd, Britta; Hollensen, Svend

2012-01-01

The concept of absorptive capacity (ACAP) observing a firm’s ability to value, assimilate and utilize new external knowledge is applied in this paper. This case study analysis focuses on strategic management processes and competitiveness of the Cimber Sterling airline. The aim is to discover...... external factors and the strategic management of other selected low-cost airlines. The analysis shows to what extent Cimber Sterling Group A/S as a Danish family business copes with increasing competition and critical situations, such as the volcanic ash cloud and financial crisis. Identifying...... resources and capabilities leading to competitive advantages within the aviation industry. From an ACAP perspective Cimber Sterling Group A/S was analyzed by interviewing selected owners, managers and employees of the airline. A comparison within the airline industry is part of the ACAP concept regarding...

Financial Mechanism for the Implementation of Strategic and Operational Financial Decisions of Modern Enterprises

Science.gov (United States)

Nikeriasova, Veronika V.; Ordov, Konstantin V.; Khvostenko, Oleg A.

2016-01-01

In modern conditions of world depression, it is urgent for increasing the efficiency of the financial mechanism. Company's future depends on the correct choice of the financial mechanism strategy. The article deals with the issues of improving the financial mechanism of enterprises in the implementation of strategic and operational financial…

A PROPOSED MODEL OF THE MEDIATING EFFECT OF STRATEGIC MANAGEMENT ACCOUNTING ON THE RELATIONSHIP BETWEEN PERCEIVED ENVIRONMENTAL UNCERTAINTY AND FIRM PERFORMANCE

OpenAIRE

Somayeh Soheilirad; Saudah Sofian

2017-01-01

This paper investigates the relationship between contingency factors, strategic management accounting and firm performance. Due to the development and expansion of organizations and their connections to the industrial competition, it is usable that the organization rely more on non-financial information than financial. The management accounting and financial accounting literature have highlighted the important role of perceived environmental uncertainty and strategic management accounting on ...

NEW PERSPECTIVES ON STRATEGIC MANAGEMENT PROCESS

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POP Zenovia Cristiana

2013-07-01

Full Text Available For developing economies the development of enterprises should be a strategic goal, this way of thinking may become viable only as a result of a combination of judicious analysis based on specific local economic aspects and a set of actions to correct any slippage or amplify existing development trends taken by the managers. A better leadership would unequivocally lead to a better strategy but sometimes the lack of information, first about the external environment, continuously undergoing quick and radical changes, the political problems and the complexity of the implementation of the strategy or the costs that it implies are not taken into consideration. Therefore managers have two options: to establish strategies, which would lead to the achievement of the objectives; evaluate them on the basis of economic efficiency or to identify an already existent strategy and to adapt it to the environment changes in which the enterprise carries on its activity. This paper aims at discussing and explaining from a theoretical perspective, the evolution and the advantages and disadvantages of the strategic management process, in order to convey the managers a modality to achieve competitiveness and evaluate the position of the firm. In the first section, we explain the the necessity of strategic management process. In the second section we present the different evolution stages. The third section presents our conclusions regarding the advantages and disadvantages of the strategic management process, fundamental for the strategy success. The financial crisis did affect the Romanian economy and Romanian enterprises early in 2009 registering an impact of the crisis identified in the need of the managers to rethink their strategies, to improve their management skills and perspectives on the role of the employees after the crisis. In this paper we try to underline the evolution stages of the strategic management process with its own characteristics by which both

Determination of Relationship Between Strategic Human Resources Applications and Non-Financial Organizations Performance of Hotel Enterprises

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Ece KONAKLIOĞLU

2017-08-01

Full Text Available Strategic human resource management takes attention even corporate organizations hardly in the emerging economies like Turkey. In this study in terms of hotel enterprises, we evaluate the strategic human resource practices and the relationship between non-financial performances. We collect the data through 209 mid- level and senior managers of hotels which selected as sample of this study. In the analysis of the study data was analyzed with descriptive techniques and hypotheses of the research were tested by using multiple regression analysis. With this study, it is understood that organization performance is positively effected by strategic human resources practices (r=0,447.

Getting it all together. Systems should link their strategic and financial planning.

Science.gov (United States)

Barron, E; Westermann, D A

1995-04-01

Foreseeing dramatic changes in healthcare delivery, the leaders of the Franciscan Health System (FHS) decided in the early 1990s to more closely link their strategic and financial planning. Though this cooperation was tentative at first, by 1993 both our planners and our chief financial officers shared certain assumptions about the future--above all, that the coming delivery model was managed care provided by integrated delivery systems (IDSs). Having agreed on our assumptions, we translated them into a vision statement, from which we derived four strategic goals: Advance the healing mission of our sponsors; Create a culture of continuous improvement in leadership, quality, innovation, cost-effectiveness, and measurable customer value; Create an environment that values and empowers those with whom we work; Develop, through partnering, an IDS that provides affordable care to our communities; Our goals established, we charted what we call a "crosswalk" between the strategic and financial aspects of our budgeting. We found that we had to think in a new way about capital. For example, we began investing as heavily in "soft" items like research, partnerships, and new services as in the traditional "bricks and mortar." This process is new for us, and developing it has not always been comfortable. But we believe it has helped us to more wisely allocate FHS's resources and thus give our system greater stability.

Strategic management in micro, small and medium-sized businesses in relation to financial success of the enterprise

Directory of Open Access Journals (Sweden)

Monika Švárová

2013-01-01

Full Text Available Small and medium sized enterprises play an essential role in the economy of the Czech Republic as a report of development of small and medium-sized enterprises and its support from 2010 announces. They are the source of development of towns, regions and the state itself. Small and medium-sized enterprises represent 99.84 % of the whole business subjects. Statistic data underline this position- they indicate that small and medium-sized enterprises employ 2/3 employees. Therefore, occupying small and medium-sized enterprises are to be taken as priority.Strategic management on the level of small and medium-sized enterprises is, as number of authors write, diverse. Small enterprises including micro have less access to capital, they have no money for employing specialists in the field, and they solve administration primarily. The aim of this follow-up GAJU project contribution concerned on process analysis of small and medium-sized enterprises is to summarize the gained results from the view of comparison of the level of strategic management in small and medium-sized enterprises.Nowadays, numbers of enterprises are thinking about whether they are able to remain in the market as an established company, they explore the possibility of improving its position. There is a question for small and medium-sized enterprises management- can strategic management be used as an instrument for increasing competitiveness? The results show that SMEs with a clearly defined strategy show better results of financial health (IN99 and ROA than companies without a defined strategy. In terms of business focus, we were able to demonstrate positive relationship between strategy and finance only for companies in the construction industry, on the significance level of 0.05. Compared to manufacturers and service-providing companies where this relation is not statistically significant.

Measuring Strategic Value-Drivers for Managing Intellectual Capital

Science.gov (United States)

Bose, S.; Oh, K. B.

2004-01-01

In an evolving business environment characterised by globalisation and a challenging competitive paradigm, it is imperative for strategic management processes to focus on the financial perspectives of value and risk in intellectual capital to create sustainability in long-term value. This paper presents the key issues pertaining to the strategic…

Introduction of policy of management of financial risks in LLC Tekhosnastka

OpenAIRE

N. N. Kudryavtseva; Yu. V. Pakhomova; Yu. N. Duvanova

2017-01-01

Proposed the technique of development of the system of actions to implementation of the effective development strategy of the enterprise is described. Control of financial risks of the enterprise represents a part of activities of the financial manager. Each enterprise for support of stable operation in the future, shall have accurately definite purposes. The most effective system of management is the system of strategic management which demands from principals of understanding of an entity o...

Market-based demand forecasting promotes informed strategic financial planning.

Science.gov (United States)

Beech, A J

2001-11-01

Market-based demand forecasting is a method of estimating future demand for a healthcare organization's services by using a broad range of data that describe the nature of demand within the organization's service area. Such data include the primary and secondary service areas, the service-area populations by various demographic groupings, discharge utilization rates, market size, and market share by service line and organizationwide. Based on observable market dynamics, strategic planners can make a variety of explicit assumptions about future trends regarding these data to develop scenarios describing potential future demand. Financial planners then can evaluate each scenario to determine its potential effect on selected financial and operational measures, such as operating margin, days cash on hand, and debt-service coverage, and develop a strategic financial plan that covers a range of contingencies.

Strategic performance in hospitals: the use of the balanced scorecard by nurse managers.

Science.gov (United States)

Naranjo-Gil, David

2009-01-01

The competitive and dynamic health care sector has spurred hospitals into delivering greater flexibility and quality of services while cutting the hospital cost at the same time. However, hospitals differ in the extent to which they achieve these strategic goals. This article explores the use of a new management tool-the balanced scorecard-which facilitates managers to meet multiple strategic goals. It also analyzes how nurse managers use the balanced scorecard in an interactive or diagnostic way and its subsequent effect on strategic goal achievement (cost reduction and flexibility). It also examines how "balanced" is the balanced scorecard in terms of financial versus nonfinancial measures. Data were collected from a mail survey sent to 218 nurse managers in Spanish public hospitals. A satisfactory response rate was achieved, with 114 (52.29%) useful answered questionnaires. The results show that younger, more tenured, and clinically trained nurse managers would be more likely to use the balanced scorecard in an interactive way. Conversely, older, less tenured, and administratively trained managers would use it diagnostically. The results also indicate that the balanced scorecard facilitates the cost reduction and flexibility in hospitals only when it is used interactively. This article provides evidence that not only the technical design of the balanced scorecard matters, but also an appropriate use of the balanced scorecard is paramount for achievement of multiple strategic goals. An effective use of the balanced scorecard requires managers to actively stimulate dialogue and agreement among hospital's staff about desirable financial and nonfinancial performance measures in alignment with multiple strategic goals.

Financial Management Competence of Founding Teams and Growth of New Technology-Based Firms

DEFF Research Database (Denmark)

Brinckmann, Jan; Gemuenden, Hans Georg; Salomo, Søren

2009-01-01

This article draws on the resource-based view to analyze the role founding teams' financial management competencies play for firm growth. Prior research stressed the importance of acquiring external financial resources. In this study, we broaden the understanding of financial management in new......-assessments of their financial management competencies at start-up. We apply the partial least squares approach to determine the effects of the different financial management competencies on firm growth....... firms. We explore the relevance of strategic financial planning competence, external financing competence, competence in financing from cash flow, and controlling competence of entrepreneurial teams for the growth of new technology-based firms. A total of 212 founding teams provided self...

Usage of strategic concepts of management accounting for satisfaction of information needs of innovation management

Directory of Open Access Journals (Sweden)

Ivankov V.М.

2017-06-01

Full Text Available The research includes the analysis of main trends of development of innovative activity in Ukraine during last years. It has been determined, that the number of innovative-active enterprises of Ukraine increase, and this trend continues. Statistic indicators of innovative activity of industrial enterprises for 2014–2015 years have been investigated. It has been determined, that in modern economic conditions the world market of technologies stays as the engine of economic growth. In this regard, special place belongs to the formation of the effective information system for the needs of innovation management through the application of strategic management accounting concepts. For this purpose, the author investigated characteristics of integrated systems of management efficiency by strategic indicators, based on the joint, consistent and coherent usage of material (financial, monetary and intangible (non-financial, non-monetary factors of creation of business value, established in the early 90s of the twentieth century as the accounting concepts of balanced cards (accounts or strategic cards. The peculiarities of the following concepts have been described: Management by Objectives by P.F. Drucker; Тableau de Bord by Zh.L. Malo; Balanced Scorecard by D.Norton and R.Kaplan; Value-Oriented Controlling by D.Khan and Kh.Khunhenberh; Performance Dashboards by Uein U.Ekkerson; Total Performance Scorecard by Rampersad K.Khiubert; Key Performance Indicators by D.Parmenter; Prism of Efficiency or Model Stakeholder by Endy Nili and Kris Adams; Balanced Scorecard by L.Meisel; Pyramid of Activity by Mak-Nair; Model of Effective Progress and Performance Measurement by К.Adame and P.Robert. It has been stated that among investigated models the best ones for displaying features innovation, which is the real embodiment of the innovation process as a long chain of value (cost on the basis of the new (improved product are the following: Balanced Scorecard, Total

Strategic planning processes and financial performance among hospitals in Lebanon.

Science.gov (United States)

Saleh, Shadi; Kaissi, Amer; Semaan, Adele; Natafgi, Nabil Maher

2013-01-01

Strategic planning has been presented as a valuable management tool. However, evidence of its deployment in healthcare and its effect on organizational performance is limited in low-income and middle-income countries (LMICs). The study aimed to explore the use of strategic planning processes in Lebanese hospitals and to investigate its association with financial performance. The study comprised 79 hospitals and assessed occupancy rate (OR) and revenue-per-bed (RPB) as performance measures. The strategic planning process included six domains: having a plan, plan development, plan implementation, responsibility of planning activities, governing board involvement, and physicians' involvement. Approximately 90% of hospitals have strategic plans that are moderately developed (mean score of 4.9 on a 1-7 scale) and implemented (score of 4.8). In 46% of the hospitals, the CEO has the responsibility for the plan. The level of governing board involvement in the process is moderate to high (score of 5.1), whereas physician involvement is lower (score of 4.1). The OR and RPB amounted to respectively 70% and 59 304 among hospitals with a strategic plan as compared with 62% and 33 564 for those lacking such a plan. No statistical association between having a strategic plan and either of the two measures was detected. However, the findings revealed that among hospitals that had a strategic plan, higher implementation levels were associated with lower OR (p plans allow organizations to better cope with environmental turbulence. Copyright © 2012 John Wiley & Sons, Ltd.

A proposed integration of process control and strategic management in an industrial organisation

OpenAIRE

2012-01-01

M.Comm. The value of Strategic Management in organisation has been realised all across the world. Strategic Management theory has been proven on all levels of organisation from corporate, through organisational and also functional areas. It is not uncommon for organisation to have well-published and effective functional strategies, such as financial, marketing and human resources. Strategy however in the engineering functions of organisations is often neglected or even non-existent. Proces...

Strategic management for university hospitals

Directory of Open Access Journals (Sweden)

Martha Isabel Riaño-Casallas

2016-10-01

Full Text Available Introduction: There are several approaches and schools that support strategic management processes. University hospitals require the implementation of a strategic approach to their management, since they are a particular type of organization with the triple mission of providing health care, education and research. Objective: To propose a strategic profile for a university hospital. Materials and methods: The theoretical framework of strategic management was analyzed and some particular components of hospital management were studied; based on these criteria, the strategic management process in three high complexity hospitals of Bogotá, D.C. was examined and a profile of both the objectives and the functional strategies for the hospital was proposed. Results: The main strategic thinking schools are presented; the processes and components of strategic management are described, and a strategic management profile for a university hospital is proposed. Conclusion: The strategic orientation of management for an institution with the characteristics of a university hospital facilitates achieving organizational objectives.

Implementation Of Strategic Management

African Journals Online (AJOL)

Administrator

Creativity and innovation is the new game plan inherent in strategic .... The diagram below is a simplified operational model of strategic management, ..... Bryson (1995) outlines four benefits of strategic (planning) Management in his ... champions, good strategic planning teams, enough slack to handle potentially disruptive.

Laboratory manager's financial handbook. Cost accounting: the road map to financial success.

Science.gov (United States)

Travers, E M

1996-01-01

Cost accounting is the most basic element of the laboratory's financial management structure. Historically, cost accounting in the nonmedical world referred to accumulating and assigning costs to units of production and departments, primarily for inventory valuation and income determination. In the health industry, microcost accounting is distinguishable from macrocost (management/internal) accounting and serves multiple purposes. Microcost accounting pertains to gathering and providing information for decision making. The range of decisions include managing recurring operations, making nonrecurring strategic decisions, and formulating major organizational policies. Macrocost accounting fulfills the legal requirements of reporting to stockholders, auditors, governmental agencies, and other external parties.

The Normative Legal Regulation of Accounting Activities of Non-Bank Financial Institutions in Ensuring the Strategic Development of the Financial System of Ukraine

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Prokopenko Zhanna V.

2017-03-01

Full Text Available The aim of the article is to study the normative legal regulation of accounting activities of non-bank financial institutions to ensure the strategic development of the financial system of Ukraine. There actualized the issue of examining the system of normative legal regulation in terms of: first, regulation of the market for non-bank financial services and their activities as an object of accounting; second, regulation of accounting and reporting as the basis of the impact on its organization, methodology; third, formation of requirements to the management of the institution concerning the qualification requirements to the chief accountant as a subject of organization and carrying out the accounting activities. In the course of the research, there developed a model for influencing the transformation of the organization and methodology of accounting, which will be implemented by establishing new requirements to its methods and objects as a result of changes in the normative legal acts and their impact on the systems of economic analysis and audit as components of corporate management of non-bank financial institutions. The proposed model determines the impact of the provisions of the integrated program for the development of the financial sector of Ukraine until 2020 in accounting in terms of methodology, specificity and composition of its objects. As a result of studying the set of documents that define the strategic provisions for the development of the market for non-bank financial services, there identified directions for the formation of new and transformation of the existing provisions of the normative legal regulation of the accounting system through its elements (methods, objects, subjects, study of its functions and justification of the significance in risk management. We believe that these provisions should be implemented by means of the development of organizational and methodological regulations for the accounting of non

Modelling financial risk in open pit mine projects: Implications for strategic decision-making

OpenAIRE

Abdel Sabour, S.A.; Wood, G.

2009-01-01

Strategic decisions in the mining industry are made under multiple technical and market uncertainties. Therefore, to reach the best possible decision, based on information available, it is necessary to integrate uncertainty about the input variables and model financial risk of the project's merit measures. However, this rovides few useful insights to decision-makers unless accompanied by modeling management responses to uncertainty resolutions. It is widely acknowledged that conventional deci...

A Strategic Risk Management Framework for Multinational Enterprise

DEFF Research Database (Denmark)

Juul Andersen, Torben

2005-01-01

and economic risks that can be monitored within conventional reporting systems and managed through use of various derivative instruments. All the while, a dispersed multinational structure can be vulnerable to disruptions caused by changing economic conditions, competitive moves, and geopolitical developments......-frequency high-impact disaster events based on scenario analyses. Hence, there is a need to consider risk management approaches that integrate relatively transparent financial exposures with the consequences of uncertain and hard-to-quantify event risks. This paper outlines the contours of such a strategic risk...

STRATEGIC MANAGEMENT ACCOUNTING: DEFINITION AND TOOLS

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Nadiia Pylypiv

2017-08-01

Full Text Available The article is dedicated to learning the essence of the definition of “strategic management accounting” in domestic and foreign literature. Strategic management accounting tools has been studied and identified constraints that affect its choice. The result of the study is that the understanding of strategic management accounting was formed by authors. The tools which are common for both traditional managerial accounting and strategic and the specific tools necessary for efficient implementation of strategic management accounting have been defined. Keywords: strategic management accounting, definition, tools, strategic management decisions.

Strategic activity and financial performance of U.S. rural hospitals: a national study, 1983 to 1988.

Science.gov (United States)

Mick, S S; Morlock, L L; Salkever, D; de Lissovoy, G; Malitz, F; Wise, C G; Jones, A

1994-01-01

This study examines the effect of 13 strategic management activities on the financial performance of a national sample of 797 U.S. rural hospitals during the period of 1983-1988. Controlled for environment-market, geographic-region, and hospital-related variables, the results show almost no measurable effect of strategic adoption on rural hospital profitability and liquidity. Where statistically significant relationships existed, they were more often negative than positive. These findings were not expected; it was hypothesized that positive effects across a broad range of strategies would emerge, other things being equal. Discussed are possible explanations for these findings as well as their implication for a rural health policy relying on individual rural hospital strategic adaptation to environmental change.

ASPECTS OF FINANCIAL EQUILIBRIUM ANALYSIS AND ITS IMPLICATIONS IN MANAGEMENT DECISIONS

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Daniela Cristina Solomon

2013-12-01

Full Text Available Considering the impact of risk factors in the economic environment, this study provides to all users of financial information a possible pattern for analyzing the financial equilibrium, designed to clarify the importance of dynamic analysis of indicators characterizing the financial equilibrium of an enterprise, expressed on absolute values, especially for managers in decision-making on future work, aimed at achieving pre-established strategic and tactical objectives. Practice has shown that the management cannot be based on intuition and routine but on a scientific analysis, on a thorough knowledge of the existing situation, as well as on the identification of vulnerabilities and opportunities for development. In order to promote a rational policy concerning business growth and achieving economic and financial satisfactory results, the company’s management grants a special importance to the financial diagnosis. The support of financial analysis is the balance sheet that allows developing financial diagnosis on the financial equilibrium conditions and creditworthiness, objectives that allow the evaluation of the independence of the firm and its market value.

Integrating Risk Management and Strategic Planning

Science.gov (United States)

Achampong, Francis K.

2010-01-01

Strategic planning is critical to ensuring that institutions of higher education thoughtfully and systematically position themselves to accomplish their mission, vision, and strategic goals, particularly when these institutions face a myriad of risks that can negatively impact their continued financial viability and compromise their ability to…

THE CONTRIBUTION OF THE BALANCED SCORECARD AS A STRATEGIC MANAGEMENT TOOL IN MANAGEMENT SUPPORT

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Sadi A., Scaramussa

2010-01-01

Full Text Available Balanced scorecard - BSC – treated initially as a system of performance measurement with base in indicators, that through time improved and today it is possible to affirm that it is a management tool. It presents an order of concepts and preexisting ideas in a logical, objective and intelligent way. Its correct application implies a series of advantages, such as the integration of financial and nonfinancial measures, the communication feedback of the strategy, the bond with planning and budget, major focus in aligning the organization.The benefits of the implantation are the most variable, where we can aim that the BSC offers a methodology of enterprise management that only proposes as financial measurement indicators the operational performance. The strategic application transforms that methodology into a management tool and available to the whole organization.

Strategic management in company information centre

International Nuclear Information System (INIS)

Judita Kopacikova, J.

2004-01-01

The presentation deals with the necessity of strategic management in libraries and information centres, with the process of creation, realization and regulation of settlement of strategic objectives and plans. It analyzes two levels of strategic management - information support of strategic management towards the superior body, provider, top management of the enterprise and organisation and proper strategic management of the information workplace. Marginally it also interferes with the problems of the so-called functional strategies - personal, technical provision and marketing. The current political, economical, social and for librarians and informative workers even information environs are subject to review of continual changes and show the organisations, institutions, enterprises and libraries how to compete successfully in competition. Changes, which are typical for the current period, will continue constantly. Consequently we must try to get them under the control, respond to them elastically, to be ready for them and to expect and predict them. For their managing we keep the modern management tools and methods at disposal - strategic management, TQM, knowledge management, management of human sources, etc. Increasing intensity and change ranges in the environs around us effect exceeding of strategic management demand - strategy. The higher uncertainty of the future development and the more solution alternatives are, the more important demand for strategic thinking and strategic proceeding is. By the strategic management the strategic thinking is the supposition of success and increasing of the effectiveness, performance and quality of products and services are the target. The final outcome is a satisfied customer, reader, user and its purpose is a long-term success in the activity or in the business. (author)

Strategic management in company information centre

International Nuclear Information System (INIS)

Judita Kopacikova, J.

2004-01-01

The article deals with the necessity of strategic management in libraries and information centres, with the process of creation, realization and regulation of settlement of strategic objectives and plans. It analyzes two levels of strategic management - information support of strategic management towards the superior body, provider, top management of the enterprise and organisation and proper strategic management of the information workplace. Marginally it also interferes with the problems of the so-called functional strategies - personal, technical provision and marketing. The current political, economical, social and for librarians and informative workers even information environs are subject to review of continual changes and show the organisations, institutions, enterprises and libraries how to compete successfully in competition. Changes, which are typical for the current period, will continue constantly. Consequently we must try to get them under the control, respond to them elastically, to be ready for them and to expect and predict them. For their managing we keep the modern management tools and methods at disposal - strategic management, TQM, knowledge management, management of human sources, etc. Increasing intensity and change ranges in the environs around us effect exceeding of strategic management demand - strategy. The higher uncertainty of the future development and the more solution alternatives are, the more important demand for strategic thinking and strategic proceeding is. By the strategic management the strategic thinking is the supposition of success and increasing of the effectiveness, performance and quality of products and services are the target. The final outcome is a satisfied customer, reader, user and its purpose is a long-term success in the activity or in the business. (author)

Financial management practices in successful Small and Medium Enterprises (SMEs

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Hendrik Petrus Wolmarans

2015-07-01

Full Text Available Although the success of small, medium and micro enterprises (SMEs is extremely important for the South African economy, their failure rate is amongst the highest in the world; some researchers estimate as high as 90 percent. Research has shown that the lack of financial management skills and application of financial management practices are some of the biggest factors contributing to SME failure. However, it is not clear from the literature which of these skills and practices are more important than others. This study aims to fill this gap by determining which financial management skills are relevant for successful SMEs. A survey was done on a sample of owner-managers of successful SMEs who had been asked, firstly, whether they performed different financial management practices and, secondly, how frequently they performed these in their companies. The study concludes that practices regarding working capital as well as profitability are much more relevant than those regarding a balance sheet or strategic finance. Similarly, financial practices related to cash flow and decision making are more relevant than those related to planning or analysing. It may be true, due to the high risk and volatile environment of SMEs, as well as the challenges that are often underestimated, that financial practices which academics regard as important are not always implemented by these companies.  This study contributes to the existing body of knowledge as it determines the relative relevance and frequency of use of financial management practices by successful SMEs. KEY WORDS Small and medium enterprises, Financial management practices, Successful SMEs, Entrepreneurship education

Manage "Human Capital" Strategically

Science.gov (United States)

Odden, Allan

2011-01-01

To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…

Strategic aspects of innovation management

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Baruk Jerzy

2017-12-01

Full Text Available Innovations are regarded as the main factor for the development of organizations, regions and whole economies. In practice the innovativeness of economic entities is limited by many factors of internal and external origin. Among the internal factors there are factors associated with management itself focusing the attention of managers on the current problems, limited utilization of modern methods of management, especially strategic management and innovation management. In this publication the emphasis was put on the discussion of the essence of strategic approach to innovation management; the essence of strategic innovations and their role in the development of organizations; three model solutions were proposed, they facilitate: rationalization of decision-making processes for the selection of the strategy of innovative activity; making rational decisions with regard to the moments for the implementation of strategic and facilitating innovations; making rational decisions based on the cycle of strategic innovation in the horizontal and vertical system. Thus, the goal of this publication is to propose a strategic approach to innovation management based not on an intuitive approach, but on a rational approach using chosen model solutions.

An Integrative Model of the Strategic Management Accounting at the Enterprises of Chemical Industry

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Aleksandra Vasilyevna Glushchenko

2016-06-01

information and the quality of strategic decisions, a radically new approach is required for the accounting of the strategic costs. In this regard, the author developed the concept of strategic cost accounting for chemical industry, based on a strategic analysis of critical areas of managerial accounting; recommended chart of accounts advanced accounting strategic cost by type and formed typical correspondence of accounts in management accounting in relation to strategic budgets and financial accounting.

Lo Strategic Management Accounting

OpenAIRE

G. INVERNIZZI

2005-01-01

Il saggio indaga gli aggregati informativi e gli elementi che compongono lo strategic management accounting. Sono quindi analizzate le funzioni svolte nei diversi stadi del processo di gestione strategica osservando il suo ruolo all’interno del management accounting. Infine sono approfonditi i rapporti fra i livelli della gestione strategica e lo strategic management accounting.

The Financial Management Practices of the Mosques in the Special Region of Yogyakarta Province, Indonesia

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Muhammad Akhyar Adnan

2014-03-01

Full Text Available Objective – This study is trying to investigate the financial management of the Masjid (Mosques in the Special Region of Yogyakarta Province. Three main issues were focused: the amount of cash flow which include the balances on hand; the application of transparency and accountability principles in financial matters, and sound practice of financial management which include budgeting, strategic formulation and performance evaluation.Methods - The study is an exploratory in nature. The Special Region of Yogyakarta consists of four counties and one city (municipality. 50 Mosques have been selected as the samples. Each county / city is represented by 10 Mosques. They are selected using sampling method. The simple descriptive analysis is conducted on the data collected.Results - Based on the data analysis, the study found that there is a significant cash flow of those selected samples, dominated by Infaq / Sodaqoh. Few Mosques recognized that they also receive Zakah and Waqaf fund.Conclusion - Generally the Mosque Management have applied the principles of transparency and accountability in the form recording, although their skill in doing so needs to be improved. However, a significant number of Mosques Management have not yet set the strategic formulation, as well as budgeting process to realize the budget and its evaluation. Keywords : Cash Flow, Financial Management, Mosque

What is strategic management?

Science.gov (United States)

Jasper, Melanie; Crossan, Frank

2012-10-01

To discuss the theoretical concept of strategic management and explore its relevance for healthcare organisations and nursing management. Despite being a relatively new approach, the growth of strategic management within organisations has been consistently and increasingly promoted. However, comprehensive definitions are scarce and commonalities of interpretation are limited. This paper presents an exploratory discussion of the construct of strategic management, drawing on the literature and questioning its relevance within health-care organisations. Literature relating to strategic management across a number of fields was accessed, drawing primarily on meta-studies within management literature, to identify key concepts and attempt to present a consistent definition. The concept within health care is explored in relation to nursing management. Inconsistency in definitions and utilisation of key concepts within this management approach results in the term being loosely applied in health-care organisations without recourse to foundational principles and a deep understanding of the approach as a theory as opposed to an applied term. Nurse managers are increasingly asked to adopt the 'next-best-thing' in managerial theories, yet caution needs to be taken in nurses agreeing to use systems that lack an evidence base in terms of both efficacy and relevance of context. © 2012 Blackwell Publishing Ltd.

Strategic Management in Times of Crisis

OpenAIRE

Groh, Maximilian

2014-01-01

This aim of this article is to identify unusual strategic-management matters in times of crisis. The research scope is strategic management processes, the characteristics of the processes and methods of strategic crisis management. The study reports research on the contemporary state of strategic crisis-management problems and provides an analysis of some theoretical and methodological principles. The analysis includes a classification of the main problems which must be solved for efficient, ...

THE INFORMATION TECHNOLOGY AS A SUPPORT FOR STRATEGIC INFORMATION MANAGEMENT IN SMALL COMPANIES

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Giseli Diniz de Almeida Moraes

2006-11-01

Full Text Available The present article aims to discuss the contribution of information technology (IT as a support to the strategic management of information in small businesses. This is a relevant subject to this sector, in which the information on the subjects is scarce and there is little knowledge of its relevance in the strategic process. Thus, most entrepreneurs do not visualize the information technology as a tool capable of aiding in the decision and strategic process, using it, many times, just in administrative and operational tasks. Another reason that contributes to a minor dissemination of the information technology in the small businesses segment is its lack of adaptation to the environment, where it is implemented without considering the principal management specificities of the small enterprises. The literature about the use of information technology in the strategic process of small organizations shows a series of obstacles to be overcome, such as: implementing financially accessible technologies, involving the entrepreneur in the implementation process and supplying adapted training to employees and entrepreneurs. Therefore, for small businesses it is relevant to develop researches that allow the adaptation of information technology to its needs to improve the strategic management.

Strategic positioning. Part 1: The sources of value under managed care.

Science.gov (United States)

Kauer, R T; Berkowitz, E

1997-01-01

Part 1 of this series organizes and discusses the sources of value against a background of an evolving managed care market. Part 2 will present, in more detail, the marketing and financial challenges to organizational positioning and performance across the four stages of managed care. What are the basic principles or tenets of value and how do they apply to the health care industry? Why is strategic positioning so important to health care organizations struggling in a managed care environment and what are the sources of value? Service motivated employees and the systems that educate them represent a stronger competitive advantage than having assets and technology that are available to anyone. As the health care marketplace evolves, organizations must develop a strategic position that will provide such value and for which the customer will be willing to pay.

Theorizing Strategic Human Resource Development: Linking Financial Performance and Sustainable Competitive Advantage

Science.gov (United States)

Hu, Po

2007-01-01

This paper is to explore potential new underlying theory of strategic human resource development based on critiques of current theoretical foundations of HRD. It offers a new definition and model of Strategic HRD based on resource-based view of firm and human resource, with linkage to financial performance and competitiveness. Proposed new model…

Balanced Scorecard – Strategic Management Tool of Performance in Public Institutions

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Carmen Cretu

2015-02-01

Full Text Available Balanced Scorecard (BSC is used to achieve an operational strategic vision at all levels of the organization regarding issues related to performance, strategy, communication, resource allocation, decision-making and competitiveness. BSC was created to restrict the limits of traditional financial and management tools and ensure unity of vision and long-term action in an organization. The main advantage of the method consists in guiding managers and departments, human resources, technological and financial resources towards the strategy of the organization. Unfortunately BSC is mainly used in private companies, because high costs and lack of specialists pose a real obstacle in implementing this instrument in public institutions. Our arguments attempts to show that the Balanced Scorecard can be the most appropriate among all the management tools for the public sector.

Strategic management and performance differences: nonprofit versus for-profit health organizations.

Science.gov (United States)

Reeves, Terrie C; Ford, Eric W

2004-01-01

Despite mixed and contradictory findings, for-profits (FPs) and nonprofits (NPs) are assumed to be similar health services organizations (HSOs). In this study, a fifteen-item scale assessing HSOs' strategic management capacity was developed and tested using fifty-seven FP and twenty NP organizations. Then, using item response theory, the items were hierarchically profiled to produce two strategic profile models, a general and an FP anchored model. We find that deviation from the general profile, but not capability attainment level, is related to two of three financial measures. We conclude that studying FPs and NPs together is appropriate.

Strategic management of population programs

OpenAIRE

Bernhart, Michael H.

1992-01-01

Formal strategic planning and management appear to contribute to organizational effectiveness. The author surveys the literature on strategic management in private/for-profit organizations and applies lessons from that literature to population programs. Few would argue that population programs would not benefit from strategic planning and management, but it would be inadvisable to initiate the process when the organization is faced with a short-term crisis; during or immediately before a chan...

Strategic Management of Large Projects

Institute of Scientific and Technical Information of China (English)

WangYingluo; LiuYi; LiYuan

2004-01-01

The strategic management of large projects is both theoretically and practically important. Some scholars have advanced flexible strategy theory in China. The difference of strategic flexibility and flexible strategy is pointed out. The supporting system and characteristics of flexible strategy are analyzed. The changes of flexible strategy and integration of strategic management are discussed.

Strategic Orientation for Improving Financial Performance Case Study in Al-Qadissiya Governorate Banking

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Basim Abbas Kraidy JASSMY

2017-06-01

Full Text Available This study investigated the relationships between market turbulence, competitive intensity, customer orientation, competitor orientation, inter-functional coordination, organizational commitment and financial performance in the banks of Al-Qadissya governorate. A survey questionnaire was conducted for investigation and data was collected from 170 mangers that work in these banks. To test these relationships, the authors examined all the variables under (SPSS V 20. In order to reveal the effects of the variables, the findings showed that market instability and competitive intensity have effect on strategic orientation, while market instability has no effect on organizational commitment and financial performance. At the same time, inter-functional coordination has no effect on organizational commitment. Furthermore, the study findings showed correlations between competitive intensity and organizational commitment, while there is no correlation between competitive intensity and financial performance. At last, organizational commitment influences financial performance. According to the study results could be improved by all types of strategic orientation and enhance organizational commitment that increase financial performance.

Strategic stakeholder management by corporate social responsibility: Some conceptual thoughts

OpenAIRE

Markus Stiglbauer

2011-01-01

The sustainability and responsibility of corporate strategic management has become an important issue in recent years, not only against the background of the current financial and economic crisis. Companies are expected not only to succeed economically, but also ecologically and socially. Companies can use the issue of corporate responsibility to capture new markets and opportunities. But new requirements arise. Thus, stakeholders may exert pressure on companies to assume social responsibilit...

Crisis - Strategic Management in Public Relation

OpenAIRE

Saari Ahmad

2012-01-01

This is a concept paper to explore the strategic management approaches in public relations during crisis. The main objective of this article is to identify the most effective action plan for Public relation. The review of the strategic management in public relations literature reveals that the relationship between strategic management and public relations is still vague. Four stages were identified in the process of establishing the action plan for public relations and eleven strategic action...

STRATEGIC MANAGEMENT ACCOUNTING: DEFINITION AND TOOLS

OpenAIRE

Pylypiv, Nadiia; Pіatnychuk, Iryna

2017-01-01

The article is dedicated to learning the essence of the definition of “strategic management accounting” in domestic and foreign literature. Strategic management accounting tools has been studied and identified constraints that affect its choice. The result of the study is that the understanding of strategic management accounting was formed by authors. The tools which are common for both traditional managerial accounting and strategic and the specific tools necessary for efficient implementati...

Strategic management thinking and practice in the public sector: A strategic planning for all seasons?

OpenAIRE

Johnsen, Åge

2014-01-01

This paper explores how strategic management thinking manifests itself in strategic management practice in the public sector. Mintzberg’s framework of 10 strategic management schools of thought is chosen for mapping strategic management thinking. The paper analyses a convenience sample of 35 strategic management processes, observation of an agency’s strategy reformulation process and interviews of managers in the public sector in Norway for informing the discussion. Strategic planning is heav...

Strengthening financial management, providing financial safeguard mechanism

International Nuclear Information System (INIS)

Sun Wumei

2010-01-01

This article reviewed the history of Zhong He Shanxi Uranium Enrichment Company, summarizing an efficient and systematical financial management method during both construction period and operational period of the company. It related to fundamental financial management structure building, integrated budgeting, fund management, cost management, asset management, tax planning and HR management. of financial staffs. (author)

Determining success factors for effective strategic change: Role of middle managers' strategic involvement

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Minhajul Islam Ukil

2017-05-01

Full Text Available Middle managers are believed to play most crucial part in strategic change that in consequence leads to organizational success. The present study seeks to identify the underlying success factors for effective strategic change and, to investigate the relationship between middle management strategic involvement and effective strategic change. Data were collected following a survey administered among a group of mid-level managers (N=144 serving in twenty different private commercial banks in Bangladesh, and analyzed using various statistical tests including descriptive analysis, Pearson correlation, and simple and multiple regressions in STATA. Results uncovers that factors like relation with top management, strategy, role and skills are essential for effective strategic change. This study also reveals significant relationship between middle management strategic involvement and effective strategic change. Findings of this research suggest that organizations shall involve mid-level managers to formulate and implement strategy since middle mangers work as a bridge between top management and ground level workers.

Government Financial Management, Strategy for Preventing Corruption in Indonesia

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Haryono Umar

2013-07-01

Full Text Available In popular view, the term accountability generally refers to a wide spectrum of public expectations dealing with organizational performance, responsiveness, good governance, and even morality of government and nonprofit organizations. These expectations often include implicit performance criteria – related to obligations and responsibilities – that are subjectively interpreted and sometimes even contradictory. And in this broader conception of accountability, the range of people and institutions to whom public and nonprofit organizations must account include not only higher authorities in the institutional chain of command but also the general public, the news media, peer agencies, donors, and many other stakeholders (Kearns, 1996. Government could build its accountability by implementing good and proper financial management. Financial management is a tool for government to show its performance and accountability to the public. Meanwhile, corruption is the misuse of public office for private gain. As such, it involves the improper and unlawful behavior of public-service officials, both politicians and civil servants, whose positions create opportunities for the diversion of money and assets from government to them and their accomplices (Langseth, 1999. The more corruption, the more far away from good governance, and the less public accountability. According to Klitgaard (1988, power minus accountability is corruption. This paper explains about the influences of implementing government financial management to corruption fighting and good governance in broadly view. Discussion will be derived to find out the understanding of financial management, corruption, and good governance terminology fits for Indonesia environment. The purpose of this paper is to achieve common knowledge that financial management should be implemented by public organization from strategic management for public organization approaches. Besides, reader will find out

Strategic Management in Hospitals: Tensions between the Managerial and Institutional Lens

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Lucilaine Maria Pascuci

2017-07-01

Full Text Available The relationship between organizations and their environments has been object of study by scholars of the theory of organizations and in discussions concerning organizational strategy. When these perspectives come together, two sets of different but overlapping forces in the strategy formation process are highlighted. The purpose of this study is to analyze how strategic management contributed to reducing tensions derived from managerial and institutional logics in philanthropic hospitals. It is a comparative case study, with a multi-method approach. The data were examined using narrative and document analysis techniques. The analysis indicated that integrating organizational-managerialist and institutional perspectives raises continuous tensions within organizations with a direct impact on managerial decisions, strategic actions and performance. The strategic management approach should be sensitive enough to recognize and reduce these tensions and find ways to integrate them more effectively. This effort requires a combination of strong leadership skills and appropriate managerial tools. Flexibility, adaptability, creativity and informal interactions should be the basis of any strategic initiatives. Daring and innovation of the hospitals - more than acquiescence - are essential to their social and financial sustainability.

The strategic analysis in the modern management of the company

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Iosefina MOROŞAN

2010-09-01

Full Text Available The present study addresses the strategic analysis within the modern management of a company. At first we presented the principles of the strategic analysis and then we exposed its role and characteristics. In the end we compared it with other types of analyses. The present paper purpose is to present the role and the importance of the diagnosis analysis. At first, we exposed the principles of the diagnosis analysis. Secondly, we separated the financial diagnosis generally speaking and the diagnosis analysis of the companies in difficult situations. Then we presented the elements involved in determining a deeper diagnosis, as being: the products, the clients, the employed, the production process, the rivalry and the suppliers.

Market research: Determinant of successful strategic marketing in financial organizations

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Domazet Ivana

2013-01-01

Full Text Available Market research provides an information inputs for business improvement by reducing risk of wrong strategic decisions in marketing area. Therefore, it presents significant competitive activity used as a base for the company's marketing strategies and business behavior. Business environment research and attitudes of clients above all, is particularly important in the financial services sector. Due to the specific attributes of financial services, which are reflected primarily in the intangibility (immateriality, variability (heterogeneity and volatility of services, but also on account of durability and rate of expenditure and fiduciary responsibility that feature financial institutions, market research has a special dimension in this area. Thus the aim of this paper is to analyze the concept and process of market research in the financial services industry and point out the importance of market research as the basic activity that should provide inputs for making strategic marketing decisions related to: market segmentation, targeting and positioning of specific market segment. In addition, the paper presents the results of market research and provides the opinions of car insurance service users in Serbia, where the starting hypothesis was that the main factors in selecting companies for motor insurance were the following: the reputation of the insurance company, trust that the insurer will pay the damage when it occurs and the price of services.

STRATEGIC FACTORS OF THE DEVELOPMENT AS DETERMINANTS OF COMPANY’S FINANCIAL SECURITY

Directory of Open Access Journals (Sweden)

Danuta Mierzwa

2016-06-01

Full Text Available Considering  the complexity of problems connected with modern  management of organizations, , the authors attempted  to prove that the  environment of the organization  does significantly determine its development, functioning and financial security.  The study was conducted with the use of  scenario analysis , as well as trend extrapolation. The applied methods enabled investigation of macro – environmental factors of the organization in terms of their strategic effect on its functioning. The examined scenario analyses of the environmental status definitely proved that  in the majority of analyses  the key role is played by the international, economic and political and competitive areas.

Conceptual Analysis for the Strategic and Operational Knowledge Man-agement of a Port Community

Directory of Open Access Journals (Sweden)

Claudia DURAN

2012-01-01

Full Text Available Ports working in a network-community that is composed of a group of associative enterprises and logistic chains require managing their strategic and operational knowledge for achieving the efficiency of their activities at both levels. A conceptual model is presented that allows the development of a strategy for a port community through a strategic planning approach using operational knowledge. The different actors that participate in the community, their roles, and the main processes in which they participate are characterized. Then the vision and the mission of the community, and the strategic objectives in the four perspectives of the Balanced Scorecard: financial, clients, processes, and learning and growth, are defined. Finally, a set of indicators oriented toward the knowledge management of the main actors participating in the community is designed.

Strategic management of health care information systems: nurse managers' perceptions.

Science.gov (United States)

Lammintakanen, Johanna; Kivinen, Tuula; Saranto, Kaija; Kinnunen, Juha

2009-01-01

The aim of this study is to describe nurse managers' perceptions of the strategic management of information systems in health care. Lack of strategic thinking is a typical feature in health care and this may also concern information systems. The data for this study was collected by eight focus group interviews including altogether 48 nurse managers from primary and specialised health care. Five main categories described the strategic management of information systems in health care; IT as an emphasis of strategy; lack of strategic management of information systems; the importance of management; problems in privacy protection; and costs of IT. Although IT was emphasised in the strategies of many health care organisations, a typical feature was a lack of strategic management of information systems. This was seen both as an underutilisation of IT opportunities in health care organisations and as increased workload from nurse managers' perspective. Furthermore, the nurse managers reported that implementation of IT strengthened their managerial roles but also required stronger management. In conclusion, strategic management of information systems needs to be strengthened in health care and nurse managers should be more involved in this process.

Strategic Belief Management

DEFF Research Database (Denmark)

Foss, Nicolai Juul

While (managerial) beliefs are central to many aspects of strategic organization, interactive beliefs are almost entirely neglected, save for some game theory treatments. In an increasingly connected and networked economy, firms confront coordination problems that arise because of network effects....... The capability to manage beliefs will increasingly be a strategic one, a key source of wealth creation, and a key research area for strategic organization scholars.......While (managerial) beliefs are central to many aspects of strategic organization, interactive beliefs are almost entirely neglected, save for some game theory treatments. In an increasingly connected and networked economy, firms confront coordination problems that arise because of network effects...

Organizational performance, Marketing strategy, and Financial strategic alignment: an empirical study on Iranian pharmaceutical firms.

Science.gov (United States)

Mohammadzadeh, Mehdi; Aarabi, Sied Mohammad; Salamzadeh, Jamshid

2013-08-02

Strategic Functional-level planning should be aligned with business level and other functional strategies of a company. It is presumed that assimilating the strategies could have positive contribution to business performance, in this regard alignment between marketing strategy and financial strategy seems to be the most important strategies being studied. An empirical work in generic pharmaceutical manufacturing companies for evaluating effect of alignment between these two functions on organizational performance was developed in this paper. All Iranian pharmaceutical generic manufactures listed in Tehran stock market have been tested for period of five years between 2006-2010 and their marketing strategies were determined by using Slater and Olson taxonomy and their financial strategies have been developed by calculating total risk and total return of sample companies for five years based on rate of risk and return in the frame of a 2 × 2 matrix. For the business performance three profitability indices including Q-Tubin (Rate of market value to net asset value), ROA (Return on Asset), ROE (Return on Equity) have been tested. For analysis, a series of one-way ANOVAs as a collection of statistical models within marketing strategies considering financial strategy as independent variable and the three performance measures as dependent variables was used. Results show strategic alignment between financial and marketing has significant impact on profitability of company resulting in arise of all three profitability indices. Q tubing's rate were 2.33,2.09,2.29,2.58 and rate of ROA were 0.21,0.194,0.25,0.22 and rate of ROE were 0.44,0.46,0.45,0.42 for matched strategy types, respectively the rates shown here are more than average meaning that specific type of marketing strategy is fitted with specific type of financial strategy. Managers should not consider decisions regarding marketing strategy independently of their financial strategy.

Strategic Management Accounting Development during Last 30 Years

OpenAIRE

Šoljaková, Libuše

2012-01-01

This paper analyses some reasons why strategic management accounting was not widely accepted. After initial boom of strategic management accounting there is stagnation in recent year. Application of strategic management accounting in practice does not exceed pilot case study. Strategic management accounting lessons are not commonly included in educational programs. Finally researches on strategic management accounting have only limited results. Paper is based on literature review and empirica...

STRATEGIC MANAGEMENT OF A TERRITORIAL DISTRIBUTED COMPLEX

OpenAIRE

Vidovskiy L. A.; Yanaeva M. V.; Murlin A. G.; Murlinа V. A.

2015-01-01

The article is devoted to strategic management and implementation of the strategy. Management strategy is based on the management of strategic potential of the enterprise. The strategic potential of the company generates only those resources that can be changed because of strategic decisions. Analysis of the potential of the enterprise should cover almost all spheres of its activity: the enterprise management, production, marketing, finance, human resources. The article has designed a system ...

Strategic management process in hospitals.

Science.gov (United States)

Zovko, V

2001-01-01

Strategic management is concerned with strategic choices and strategic implementation; it provides the means by which organizations meet their objectives. In the case of hospitals it helps executives and all employees to understand the real purpose and long term goals of the hospital. Also, it helps the hospital find its place in the health care service provision chain, and enables the hospital to coordinate its activities with other organizations in the health care system. Strategic management is a tool, rather than a solution, that helps executives to identify root causes of major problems in the hospital.

The Conceptual Framework of Strategic Management Accounting

Directory of Open Access Journals (Sweden)

Iershova Natalia Yu.

2017-03-01

Full Text Available The aim of the article is to elaborate a conceptual framework for strategic management accounting. By analyzing, systematizing and generalizing the structural and characteristic approaches of many scientists, the content of the concept “strategic management accounting” is defined; the identification of system-forming elements of the conceptual framework of strategic management accounting is presented. Based on the results of the research, the conceptual framework of strategic management accounting revealing the economic mechanism of its functioning is elaborated; scientific approaches that ensure its development as a holistic system and empirical science are defined; the methodology determining the organizational and methodological possibilities of its practical building at enterprises is improved. Prospects for further research in this area are the elaboration of a modern concept of strategic management accounting aimed at information-anticipating reflection of the events sequence and support of feedbacks based on proactive information support for strategic management.

Macrofoundation for Strategic Technology Management

DEFF Research Database (Denmark)

Pedersen, Jørgen Lindgaard

1995-01-01

Neoclassical mainstream economics has no perspective on strategic technology management issues. Market failure economics (externalities etc.)can be of some use to analyze problems of relevance in strategic management problems with technology as a part. Environment, inequality and democratic...... deficits are important problems today...

The Structure and Evolution of the Strategic Management Field: A Content Analysis of Twenty-six Years of Strategic Management Research

OpenAIRE

Furrer,Olivier; Thomas, Howard; Goussevskaia, Anna

2014-01-01

This paper analyses 26 years of strategic management research published in Academy of Management Journal, Academy of Management Review, Administrative Science Quarterly and Strategic Management Journal. Through a content analysis, it studies the relationships between the subfields of strategic management. A multiple correspondence analysis provides a map of keywords and authors, and a framework to track this literature over the 26-year period. A discussion of future pathways in the strategic ...

RUSSIAN BANK ACTIVITY STRATEGIC MANAGEMENT PROBLEMS

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V. B. Pogosyan

2011-01-01

Full Text Available Main strategic management problems characteristic for the majority of Russian bank are: absence of systems making it possible to adapt bank activity elements to changing outer and inner business conditions; obsolete client service system; traditional liquidity and risk managementmechanisms; absence of systems of coordinating bank strategic management process participants’ interests with the banks aims. Ways of overcoming basic difficulties in bank activity strategic management are defined.

Financial Risk Management

OpenAIRE

Catalin-Florinel Stanescu; Laurentiu Mircea Simion

2011-01-01

Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.

[SUS management and monitoring and evaluation practices: possibilities and challenges for building a strategic agenda].

Science.gov (United States)

Carvalho, André Luis Bonifácio de; Souza, Maria de Fátima; Shimizu, Helena Eri; Senra, Isabel Maria Vilas Boas; Oliveira, Kátia Cristina de

2012-04-01

This paper deals with the challenges involved in institutionalizing Monitoring and Evaluation practices within the scope of management of the Brazilian Unified Health System (SUS), based on the creation of a strategic agenda. This is structured around actions by the Federal Administration, from the perspective of defining the scope of the federative relationship. A summarized literature review is thus presented, placing into context the current SUS management process, which is based on the Pact for Health as well as theoretical and operational aspects inherent to monitoring and evaluation practices. The approach related to the strategic agenda highlights the creation of mechanisms that underpin the political and institutional decision, namely the creation of financial incentives and the development of technical mechanisms. These include organizational strategies for qualifying management teams and conducting studies and research and the dissemination of strategic information. These processes are based on the concept of providing for the management specificities in the different spheres of management based on a broad cooperation process involving teaching and research institutions and international organizations as well as the managers themselves.

Strategic personnel management in an educational institution

OpenAIRE

KOROTKOVA M.V.; RYBKINA M.V.; NIKITINA S.O.; SCHERNYKH A.V.

2016-01-01

The article analyzes the strategic human resource management in an educational institution. Analyzes the basic normative-legal documents regulating educational activities, including the part of management. Particular importance is given to the types of educational institutions (budgetary, state, and autonomous). The stages of strategic management of staff in educational institutions and development model of strategic management personnel are shown.

Financial Indicators in Strategic Decision Making: Recommended Practices for Financial Officers at Small Private Colleges and Universities in the Midwestern United States

Science.gov (United States)

Reissenweber, Beth

2012-01-01

This study explored whether financial leaders and institutional governing boards use financial indicators as a tool to inform decision making, solely as a compliance measurement tool, or not at all. The purpose of this qualitative study was two-fold to: (a) identify the use of financial indicators in strategic decision making, and (b) investigate…

Nuclear industry strategic asset management: Managing nuclear assets in a competitive environment

International Nuclear Information System (INIS)

Mueller, H.; Hunt, E.W. Jr.; Oatman, E.N.

1999-01-01

The former Electric Power Research Institute took the lead in developing an approach now widely known as strategic asset management (SAM). The SAM methodology applies the tools of decision/risk analysis used in the financial community to clarify effective use of physical assets and resources to create value: to build a clear line of sight to value creation. SAM processes have been used in both the power and other industries. The rapid change taking place in the nuclear business creates the need for competitive decision making regarding the management of nuclear assets. The nuclear industry is moving into an era in which shareholder value is determined by the net revenues earned on power marketed in a highly competitive and frequently low-priced power market environment

The occupational safety and health scorecard--a business case example for strategic management.

Science.gov (United States)

Köper, Birgit; Möller, Klaus; Zwetsloot, Gerard

2009-12-01

Human resources and health issues are crucial in terms of corporate competitiveness. However, systematic, continuous and strategically aligned occupational safety and health (OSH) management is scarcely applied in companies. One major reason for this could be the lack of generally accepted and standardised OSH control methods. Our objective was thus to conceptualize a method by which qualitative factors such as human resources and OSH aspects contribute to the performance or value-added layer of an organization. We developed a business case based on the well-known and accepted Balanced Scorecard approach, which we adapted and applied to the management of OSH issues. The concept was implemented in the course of a comprehensive case study at a German automobile manufacturer. We gathered health as well as finance data in order to test which health-related indicators had an impact on financial performance. The demonstration of, and reporting on, how the promotion of workplace health contributes strategically to the organization is crucial for both health and human resource managers. Based on multivariate regression analyses, our main finding was that the Balanced Scorecard approach is an adequate means to control OSH issues in terms of strategic health management. Our analyses demonstrated that health-related interventions contribute significantly to performance aspects such as quality, productivity, absenteeism, and cost reduction. Therefore, the financial impact of health-related aspects / interventions could be demonstrated by means of the OSH scorecard. The availability and quality of health data within the context of overall corporate performance data needs to be improved in order to bridge OSH-related and performance issues of an organization.

The Risks of Strategic Decisions in the Sphere of Financial and Economic Security of Public-Private Partnership

Directory of Open Access Journals (Sweden)

Solodovnik Olesia O.

2017-06-01

Full Text Available The article is aimed at studying and substantiating the theoretical and methodological aspects of development, analysis and assessment of strategic decisions in the sphere of financial and economic security of public-private partnership (PPP in the context of the risks of their implementation. A study on the essence and characteristics of strategic decisions in the sphere of financial and economic security of PPP has led to the conclusion that each such decision should be considered and assessed in the context of the risks of its implementation, and the risk theory could be seen as the scientific basis for defining strategic alternatives and developing a criteria base for assessing them. The article proposes a list and systematization of the PPP risks that allow to: itemize the risks to the external and internal environment of PPP and to identify the prerequisites and sources of threats to the financial and economic interests of parties to the partnership; analyze and evaluate the strategic alternatives for risk distribution among partners in the context of implications for financial and economic security of PPP; determine the risks of achieving the objectives of the strategy for financial and economic security of PPP and to evaluate alternative strategies in terms of partners; account the potential occurrence and development of systemic risks and threats to the financial and economic security of PPP, as well as the use of complementary protective mechanisms; evaluate the results of a strategy to protect the financial and economic interests of parties to the PPP.

STRATEGIC MANAGEMENT OBJECT AS AN OBJECT OF SCIENTIFIC RESEARCH

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Mykola Bondar

2015-11-01

Full Text Available The purpose of research is to highlight the main areas of the system of strategic management accounting, improvement of the principles on which it operates. Subject of research is theoretical and practical aspects of functioning and development of strategic management accounting. Subject area is focused on strategic management information support towards the implementation of the principle of balancing of activity of the entities. Objectives of the research is to determine the place and role of strategic management accounting in the creation of information infrastructure management in the current economic conditions; disclosure of decomposition problems and improvement of the functioning of the system of strategic management accounting, prioritization of development. Hypothesis of the research is based on the assumption that the effectiveness of entities management adapted to the needs of the market environment of complete, accurate and timely information, which is formed in properly organized system of strategic management accounting. Methodology is based on analysis of data of respondents from 125 industrial entities of Kharkiv region. Data was collected through direct surveys and in the preparation of Kharkiv Oblast Development Strategy for the period until 2020. Respondents were asked a number of questions that determine: results of the system of information support of strategic management in enterprises employing respondents; direction of the system of strategic management accounting in enterprises employing respondents. By means of expert assessments was evaluated important source of information for making strategic management decisions. General system of research methodology is based on a systematic approach. Conclusion. During the research was confirmed the role and importance of strategic management accounting information for the purpose of strategic management. According to the results outlined challenges facing the leaders of

Corporate Governance and Strategic Management Accounting Disclosure

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Setianingtyas Honggowati

2017-06-01

Full Text Available The aim of this study is to examine the corporate governance influence on strategic management accounting disclosure. The strategic management accounting disclosure in this study was measured by the disclosure level regarding strategic management accounting published in the company's annual report according to the index (made by the author. The corporate governance is proxied by board size, independent board, and managerial ownership. The data of this study are 497 manufacturing companies in Indonesia in the period of 2011-2015 and the method employed in this study is regression analysis method. The findings show that board size has significant positive influence on the disclosure level of strategic management accounting of manufacturing companies in Indonesia, and the proportion of independent board does not influence SMA disclosure, while managerial ownership has negative influence the disclosure level of strategic management accounting.

Utilizing the Composite Financial Index as Strategic Financial Analysis for Measuring Financial Health and Student Success Rates among Iowa Community Colleges

Science.gov (United States)

Humburg, Dawn Ann

2012-01-01

The phrase "survival of the fittest" is coming to fruition in higher education today. Less than strategic financial moves have no place in post-secondary education. Facing the realities of our current economy is dictating major changes in how colleges are "doing business." These changes present enormous challenges to community…

Implementation Of Strategic Management: The Challenges And ...

African Journals Online (AJOL)

. Only the discerning organizations can manage the changes and vagaries through the implementation of effective strategic management. This article examines the concept of strategic management and its implication for organizational ...

Organizational performance, Marketing strategy, and Financial strategic alignment: an empirical study on Iranian pharmaceutical firms

Science.gov (United States)

2013-01-01

Background Strategic Functional-level planning should be aligned with business level and other functional strategies of a company. It is presumed that assimilating the strategies could have positive contribution to business performance, in this regard alignment between marketing strategy and financial strategy seems to be the most important strategies being studied. An empirical work in generic pharmaceutical manufacturing companies for evaluating effect of alignment between these two functions on organizational performance was developed in this paper. Methods All Iranian pharmaceutical generic manufactures listed in Tehran stock market have been tested for period of five years between 2006–2010 and their marketing strategies were determined by using Slater and Olson taxonomy and their financial strategies have been developed by calculating total risk and total return of sample companies for five years based on rate of risk and return in the frame of a 2 × 2 matrix. For the business performance three profitability indices including Q-Tubin (Rate of market value to net asset value), ROA (Return on Asset), ROE (Return on Equity) have been tested. For analysis, a series of one-way ANOVAs as a collection of statistical models within marketing strategies considering financial strategy as independent variable and the three performance measures as dependent variables was used. Results Results show strategic alignment between financial and marketing has significant impact on profitability of company resulting in arise of all three profitability indices. Q tubing’s rate were 2.33,2.09,2.29,2.58 and rate of ROA were 0.21,0.194,0.25,0.22 and rate of ROE were 0.44,0.46,0.45,0.42 for matched strategy types, respectively the rates shown here are more than average meaning that specific type of marketing strategy is fitted with specific type of financial strategy. Conclusion Managers should not consider decisions regarding marketing strategy independently of their financial

Organizational Performance, Marketing Strategy, and Financial Strategic Alignment: an Empirical Study on Iranian Pharmaceutical Firms

Directory of Open Access Journals (Sweden)

Mehdi Mohammadzadeh

2013-08-01

Full Text Available Background:Strategic Functional-level planning should be aligned with business level and other functional strategies of a company. It is presumed that assimilating the strategies could have positive contribution to business performance, in this regard alignment between marketing strategy and financial strategy seems to be the most important strategies being studied. An empirical work in generic pharmaceutical manufacturing companies for evaluating effect of alignment between these two functions on organizational performance was developed in this paper.Methods:All Iranian pharmaceutical generic manufactures listed in Tehran stock market have been tested for period of five years between 2006--2010 and their marketing strategies were determined by using Slater and Olson taxonomy and their financial strategies have been developed by calculating total risk and total return of sample companies for five years based on rate of risk and return in the frame of a 2 x 2 matrix. For the business performance three profitability indices including Q-Tubin (Rate of market value to net asset value, ROA (Return on Asset, ROE (Return on Equity have been tested. For analysis, a series of one-way ANOVAs as a collection of statistical models within marketing strategies considering financial strategy as independent variable and the three performance measures as dependent variables was used.Results:Results show strategic alignment between financial and marketing has significant impact on profitability of company resulting in arise of all three profitability indices. Q tubing's rate were 2.33,2.09,2.29,2.58 and rate of ROA were 0.21,0.194,0.25,0.22 and rate of ROE were 0.44,0.46,0.45,0.42 for matched strategy types, respectively the rates shown here are more than average meaning that specific type of marketing strategy is fitted with specific type of financial strategy.Conclusion:Managers should not consider decisions regarding marketing strategy independently of their

Needed: a strategic approach to supply chain management.

Science.gov (United States)

Kowalski, Jamie C

2009-06-01

When devising a supply chain strategic plan, consider these points: Frame the supply chain broadly to include all possible components and expenses. Recognize how each part of the supply chain affects other parts. Engage all parties and customers in strategic discussions. Educate all involved. Objectively assess the current state. Visualize an unencumbered future state. Quantify quality, productivity, and financial goals.

Strategic management by balanced development: meaning

Directory of Open Access Journals (Sweden)

Yevtushenko Natalya Olexandrivna

2016-02-01

Full Text Available Based on analyzes of references it was found out the meaning of «management», «strategic management», «development of enterprise», «balanced development» and were proved their connections. It was described authorial interpretation of definition “strategic management by balanced development”. The next descriptions were separated: presence of quantitative and quality changes, adaptation to influence of internal and external environment factors. It was set that a human capital is the main source of the balanced development. On the basis of generalization and systematization of existent interpretations was offered authorial determination of essence of concept «strategic management by balanced development of enterprise».

Being Strategic in HE Management

Science.gov (United States)

West, Andrew

2008-01-01

The call to be strategic--and with it the concept of strategic management--can bring to mind a wide range of definitions, and there is now a huge array of academic literature supporting the different schools of thought. At a basic level, however, strategic thinking is probably most simply about focusing on the whole, rather than the part. In…

MARKETING ASPECTS IN STRATEGIC MANAGEMENT ACCOUNTING

OpenAIRE

Dario Dunkovic; Durdica Juric; Tereza Nikolic

2010-01-01

Strategic management accounting has an important role to play in providing information about the major sources of competitive advantage of an enterprise. In increasingly dynamic environments the provision of strategically relevant information is of paramount importance for the formulation and execution of business strategies. Management control systems together with traditional management accounting represent a starting point for the development of modern management accounting concepts. There...

Understanding the use of strategic intelligence as a strategic management tool in the long-term insurance industry in South Africa

Directory of Open Access Journals (Sweden)

René Pellissier

2011-10-01

The paper obtained the qualitative views and opinions of strategic decision makers, on an executive managerial level within the South African long-term insurance industry, on their organisations use of strategic intelligence. It was found that there are marked differences in the conformity and usage of strategic intelligence and its components between the organisations surveyed, with a measurable difference between large and small organisations. It is, however, generally viewed that the use of a strategic intelligence framework could greatly enhance decision-making. Data collection for the research undertaken was limited to the 82 long-term insurance companies, which were registered with the South African Financial Services Board. More specifically the focus was on the organisations listed on the Johannesburg Securities Exchange within the Life Assurance sector, within which a final response rate of 36.1% was achieved, including the 100% response rate from the six listed organisations. By understanding the extent to which strategic intelligence is utilised in the South African longterminsurance industry, and the benefits or problems that are experienced by implementing and using strategic intelligence as an input to the strategic management process we can comprehend the value that strategic intelligence adds in the decision making process. The originality of this work concludes in the identification and utilisation of the most important factors of a strategic intelligence framework that will greatly enhance global corporate decisionmakingand result in competitive advantage and constant innovation within the South African business environment.

The Importance of Supply Chain Management on Financial Optimization

Directory of Open Access Journals (Sweden)

Arawati Agus

2013-01-01

Full Text Available Many manufacturing companies are facing uncertainties and stiff competition both locally and globally, intensified by increasing needs for sophisticated and high value products from demanding customers. These companies are forced to improve the quality of their supply chain management decisions, products and reduce their manufacturing costs. With today’s volatile and very challenging global market, many manufacturing companies have started to realize the importance of the proper managing of their supply chains. Supply chain management (SCM involves practices such as strategic supplier partnership, customer focus, lean production, postpone concept and technology & innovation. This study investigates the importance of SCM on financial optimization. The study measures production or SCM managers’ perceptions regarding SCM and level of performances in their companies. The paper also specifically investigates whether supply chain performance acts as a mediating variable in the relationship between SCM and financial optimization. These associations were analyzed through statistical methods such as Pearson’s correlation and a regression-based mediated analysis. The findings suggest that SCM has significant correlations with supply chain performance and financial optimization. In addition, the result of the regression-based mediated analysis demonstrates that supply chain performance mediates the linkage between SCM and financial optimization. The findings of the study provide a striking demonstration of the importance of SCM in enhancing the performances of Malaysian manufacturing companies. The result indicates that manufac-turing companies should emphasize greater management support for SCM implementation and a greater degree of attention for production integration and information flow integration in the manufacturing system in order to maximize profit and tzerimize cost.

ADMINISTRATIVE INSTRUMENTS IN IMPLEMENTING FUNCTIONAL STRATEGIES COMPETITIVENESS MANAGEMENT

Directory of Open Access Journals (Sweden)

Iryna Stankovska

2017-03-01

Full Text Available The article explores the use of  аdministrative instruments in implementing functional strategies competitiveness management. Due to providing strategic financial management competitiveness the use of administrative levers of control in the formulation and implementation of financial strategies were investigated. System of financial policies forming by individual policies of  general financial strategy, which is an administrative levers of influence on implementation strategies, was proposed. Structure strategic alternatives of financial and investment strategy implementation based on the decomposition and decision tree was formed. To select strategic alternatives, to identify strategic gaps and evaluate deviations from specified target markers in the implementation of financial policies using GAP-analysis that is a tool of management analysis was proposed. Key words: functional strategy, financial strategy, competitiveness management, financial policy, administrative instruments, GAP-analysis.

2013 Membership Profile of the Financial Therapy Association: A Strategic Planning Report

Directory of Open Access Journals (Sweden)

Sarah Asebedo

2014-03-01

Full Text Available A second profile of the Financial Therapy Association (FTA membership was conducted to continue the development of financial therapy as a new area of practice and study. The FTA was established in 2010 as an effort to bring together practitioners and researchers from diverse disciplines to share in a common vision of financial therapy. This profile report depicts the demographic profile (e.g., age, education, gender, occupation, income and perspectives of members who participated in the survey commissioned by the FTA Strategic Planning Committee in 2013. The results of the membership profile survey highlight the future directions of and the challenges facing the FTA and the emerging area of financial therapy.

Teaching Strategic Management with a Business Game.

Science.gov (United States)

Knotts, Ulysses S., Jr.; Keys, J. Bernard

1997-01-01

Management games are increasingly used to teaching strategic management by integrating functional areas of business and providing a working knowledge of the strategic management process. This article summarizes the experience of two veteran instructors, presenting course learning objectives, game pedagogy, team organization and management, game…

The choice of strategic core - impact of financial volume

Energy Technology Data Exchange (ETDEWEB)

Emhjellen, M. [Petoro AS, Stavanger (Norway); Hausken, K. [University of Stavanger (Norway). Faculty of Social Sciences; Osmundsen, P. [University of Stavanger (Norway). Department of Industrial Economics, Section of Petroleum

2006-07-01

Recent trends among major oil companies and independents have been consolidation through mergers and acquisitions and focus on key strategic core areas. The expressed goals have been to achieve synergy, reduce costs, and concentrate on areas with maximum expected value creation. This paper provides a model that endogenously determines the optimal numbers of projects to implement in an optimal number of areas. The decision of whether to invest in a project cannot be seen in isolation but must be linked with portfolio optimisation and the strategic core of the firm. Accounting for excess opportunity costs and monitoring costs, we demonstrate how financial volume, i.e., materiality, is decisive for companies' investment allocation decision and how implementing marginally profitable projects in low-tax areas may be part of an optimal solution. (author)

Strategic management cultures: historical connections with science

OpenAIRE

Abreu Pederzini, G.

2016-01-01

Purpose: The implicit and indirect influence of classical science on strategic management has been of utmost importance in the development of the discipline. Classical science has underpinned the main and even contrasting strategic management cultures. Classical science has undoubtedly allowed strategic management to thrive. Nevertheless, important limitations, roadblocks and challenges have also been produced. This paper aims to explore the influence of classical science on the main positivi...

Strategic Alliance Poker: Demonstrating the Importance of Complementary Resources and Trust in Strategic Alliance Management

Science.gov (United States)

Reutzel, Christopher R.; Worthington, William J.; Collins, Jamie D.

2012-01-01

Strategic Alliance Poker (SAP) provides instructors with an opportunity to integrate the resource based view with their discussion of strategic alliances in undergraduate Strategic Management courses. Specifically, SAP provides Strategic Management instructors with an experiential exercise that can be used to illustrate the value creation…

From Performance Measurement to Strategic Management Model: Balanced Scorecard

Directory of Open Access Journals (Sweden)

Cihat Savsar

2015-03-01

Full Text Available Abstract: In Today’s competitive markets, one of the main conditions of the surviving of enterprises is the necessity to have effective performance management systems. Decisions must be taken by the management according to the performance of assets. In the transition from industrial society to information society, the presence of business structures have changed and the values of non-financial assets have increased in this period. So some systems have emerged based on intangible assets and to measure them instead of tangible assets and their measurements. With economic and technological development multi-dimensional evaluation in the business couldn’t be sufficient.  Performance evaluation methods can be applied in business with an integrated approach by its accordance with business strategy, linking to reward system and cause effects link established between performance measures. Balanced scorecard is one of the commonly used in measurement methods. While it was used for the first time in 1992 as a performance measurement tool today it has been used as a strategic management model besides its conventional uses. BSC contains customer perspective, internal perspective and learning and growth perspective besides financial perspective. Learning and growth perspective is determinant of other perspectives. In order to achieve the objectives set out in the financial perspective in other dimensions that need to be accomplished, is emphasized. Establishing a causal link between performance measures and targets how to achieve specified goals with strategy maps are described.

Theory of Science Perspectives on Strategic Management Research

DEFF Research Database (Denmark)

Foss, Nicolai Juul

Arguments derived from the theory of science have been present in strategic management discourse since at least the beginning of the 1970s. The field's topjournal,the Strategic Management Journal, has printed several theory of sciencebased papers. Most positions in the theory of science...... (falsificationism, instrumentalism, realism, constructivism, etc.) have been present in the methodological discourse in the field. This chapter briefly reviews theory science applications to strategic management, before a distinctive perspective on the evolution of the strategic management field is developed....... According to this perspective, science progresses when deeper level mechanisms are identified and theorized. Theoretical reduction may therefore be an independent criterion of scientific progress. Application to the strategic management field of this perspective, which in the social sciences is closely...

The efficiency and the effectiveness of strategic management: from strategic planning to organizational change

Directory of Open Access Journals (Sweden)

Rolando Juan Soliz Estrada

2007-09-01

Full Text Available Strategic management is a technique which has as structuring basis the Strategic Administration and the Strategic Planning, adding to its improvement the administrative perspective of organization changes. However, the organization change models developed in the last years have been elaborated aiming the managing of general organization changes, and do not have a specific approach to the managing and improvement of Strategic Planning and the Changes caused by them, it means they are not models which focus directly on the Strategic Management. This work had as objectives to develop a Model of Strategic Administration and a Model of Organizational Change, which associated turn efficient and effective the Organizations’ Administration. In order to develop this work were used concepts and approaches preconized by qualitative research. As results, the two Models are presented, as well as their validation in an organization with lucrative objectives.

Pricing and performance in health maintenance organizations: a strategic management perspective.

Science.gov (United States)

Conant, J S; Mokwa, M P; Burnett, J J

1989-03-01

Innovative, consumer-oriented pricing strategies have contributed to the impressive growth of health maintenance organizations (HMOs). In a national study of HMO marketing directors, the relationships between strategic management style and (1) the relative importance of pricing in competitive marketing strategy, (2) the effectiveness of price strategy planning, and (3) financial performance are examined. The findings indicate that HMOs practicing effective price planning also perform well on an overall basis. Insight into the content and substance of HMO pricing strategies is also provided.

Context: The strategic management Rosetta Stone

Directory of Open Access Journals (Sweden)

R. V. Weeks

2007-12-01

Full Text Available Purpose: The purpose of this paper is to analyse context as a means for interpreting and making sense of evolving strategic management theory and practice. Problem investigated: Traditional strategic management theory based on rational deductive methodologies assumes contextual predictability, yet contemporary conditions tend to contradict this assumption. In response, alternative theories and practices for dealing with complex contexts have emerged (Brews & Purohit, 2006; Grant, 2003; Kurt & Snowden, 2003and Stacey, 1995. Methodology: A literature study was undertaken to determine the nature of emergent strategic management theory and practice, in response to contextual complexity and how it differs from traditional practice (Mintzberg, 1994 and Weeks &Lessing, 1993. Findings: An important conclusion drawn from the study is that context acts as a determinant for making sense of the evolution of strategic management theory and practice. While traditional strategic management practice still assumes relevance in contexts of linear causality, it breaks down in complex contexts. Emergent strategic management theory, based on complex adaptive systems, is increasingly assuming relevance. Notably, many institutions are still attempting to make use of scenario planning in an attempt to deal with contextual complexity, a practice not supported by leading researchers(Stacey, 1995 and Kurt & Snowden, 2003. Value of the research: The insights gained from the study assume relevance, in view of the contextual complexity confronting modern-day institutions. The findings suggest that emergent strategy based on complex adaptive system theory needs to be considered as a means for dealing with increasing environmental turbulence. Conclusion: It is concluded that context serves as the Rosetta stone for making sense of strategic management theory and practice. In view of the research findings, as reflected in the literature, it would seem that the use of complex

The Strategic balance in a Change Management Perspective

DEFF Research Database (Denmark)

Bordum, Anders

2010-01-01

Abstract Purpose – The purpose of this paper is to revisit and rationally reconstruct the role of planning, strategic management, and strategic balance, in a context of managing change. The general problem dealt with is: “When is it possible to design and manage a balanced strategic change process...... abstract and complex, but nevertheless preserve the idea of planning and control as a demand for strategic balance. The last section inserts this discussion into a change management framework pointing to a practical paradox emerging and addressing a possible solution. Findings – It is argued...

Theoretical aspects of strategic adaptation management of enterprises

Directory of Open Access Journals (Sweden)

Khaustova Ksenya Mykhailivna

2016-09-01

Full Text Available In the article the theoretical foundations of strategic adaptation management as an actual approach to the management of enterprise under conditions that are constantly changing have been developed. The theoretical approaches to the definition of “adaptation enterprise” have been studied and systematized. The essence and principles of strategic management adaptation were expounded. The model of strategic management was improved through the introduction of continuous monitoring and evaluation of changes in the environment and the actual adjustments to the system and processes. The essence and features adaptive capacity of the enterprise as a key element of strategic management have been investigated.

Towards Increasing Business Students' Confidence in Facing an Ethically Confusing Business Environment: A Strategic Management Approach

Science.gov (United States)

Fox-Wolfgramm, Susan J.

2010-01-01

This paper presentation will focus on the application of self leadership and strategic management concepts to help make sense of the current global financial crisis and its critical connection with our future business professionals' perceptions of ethical behavior. The author will explore ideas that lead to the strengthening of business students'…

Strategic Impact of Knowledge Management on Organisational Efficiency

DEFF Research Database (Denmark)

Larsen, Michael Holm; Pedersen, Mogens Kühn

1999-01-01

Knowledge management is rarely found in a strategy context. Although some companies already have introduced the role of a chief knowledge officer, knowledge management is not treated as a strategic endeavour. Furthermore, contributions from an academic point of view are scarce in the field...... of the strategic issues of knowledge management. This paper contributes with some insight in pointing out the strategic question that knowledge management might provide answers for: The efficiency issue of stategic positioning. Furthermore, the paper emphasises the distinction between symmetric and asymmetric...... incentives in business relations, and on this basis identifies the notion of Distributed Knowledge Management as a means for creating efficiency strategies with symmetric incentives in business relations. In this way a strategic agenda for knowledge management is identified....

THE MODELS OF STRATEGIC MANAGEMENT OF INFOCOMM BUSINESS

Directory of Open Access Journals (Sweden)

M. A. Lyashenko

2015-01-01

Full Text Available Consideration subject in this article are models of strategic management of large transnational information and communication business. The purpose of the presented work consists in formation of ideas of model of strategic management on the example of infocommunication business. For achievement of a goal the author of article carries out the analysis and synthesis of the existing practice of strategic management in infocommunication business. For achievement of a goal, as methodological base, the systems and logical analysis was selected. In water part of article the interrelation of a computerization of basic functions of a business management, by public and public institutions, growth of the enterprises of the information and communication sphere and formation of a pool of specially prepared labor with development of practice of a strategation is presented. In the main part of article practice of the organization of strategic management of infocommunication business in three leading fi rms of this branch of Microsoft, Dell, Intel is considered. Consideration is directly coordinated to evolution of the infocommunication branch defi ning regularities of strategic management. The model strategic management in the Microsoft company conceptually corresponds to strategy of growth and includes three elements: representation, participation and innovations. At the heart of model of strategic management of Intel there are two elements: fi rst, deduction of leader positions in the of a segment by means of development, productions and sales of the most eff ective and available goods at the price, secondly, is maximizing use value of the fi nal product of the company. Generally the model of strategic management of Dell includes three basic elements: development and use of the latest technologies, high quality of goods, eff ective interrelation in a value creation chain. As result of the experiment of strategic management of large information

Strategic hospital alliances: impact on financial performance.

Science.gov (United States)

Clement, J P; McCue, M J; Luke, R D; Bramble, J D; Rossiter, L F; Ozcan, Y A; Pai, C W

1997-01-01

Acute care hospitals have increasingly been forming local strategic hospital alliances (SHAs), which consume considerable resources in forming and may affect the competitiveness of provider markets. This research shows that SHAs and market factors, which have been perceived to be threats to hospitals, are related to hospitals' financial performance. Among the findings are that SHA members have higher net revenues but that they are not more effective at cost control. Nor do the higher net revenues result in higher cash flow. However, increasing SHA penetration in a market is related to lower net revenues per case. In addition, the penetration of private health maintenance organizations in markets is associated with lower revenues and expenses.

Strategic Decision Making in Times of Global Financial Crisis

OpenAIRE

Gawlik, Remigiusz

2009-01-01

The presented paper is a brief presentation of findings based on research lead on a group of small and medium businesses. The study has been made in conditions of global financial crisis and its effects, such as fall of production volumes in numerous companies. A number of indexes describing the actual economic situation and short – term prospects of discussed businesses has been presented to their medium- and high level executives in order to point out those most useful when taking strategic...

STRATEGIC MANAGEMENT WITHIN THE TOURISM AND THE WORLD GLOBALIZATION

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Zanina Kirovska

2011-06-01

Full Text Available Within the world of tourism development, it is indisputable for strategic planning of tourism, especially for defining and existence of a development strategy for tourism. The implementation of the development strategy for tourism is determined by the functioning of strategic management in tourism.Strategic management is a proactive process of achieving long-term compatibility of the corresponding field in planned tourism environment. This management is a profitable way for implementation of priority development goals in tourism, set by the national economy, which is affected by tourism development. Strategic management basically has all the necessary features that promise efficiency and effectiveness in achieving development goals in tourism.With increasing competition and globalization trends, dynamics and development of tourism is increasingly intensified, and strategic management to ensure efficient and effective business operations (resource management, management information systems, maintaining and developing relations with tourisms, expanding and development of the tourism business, managing to new and innovative tourism projects. Therefore the importance of strategic and operational management without successful parts of operations, threaten the development of the tourism component.

Strategic versus financial investors: The role of strategic objectives in financial contracting

NARCIS (Netherlands)

Arping, S.; Falconieri, S.

2009-01-01

Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement their core businesses and to facilitate the internalization of externalities. We argue that while strategic objectives make it more worthwhile for an investor to elicit high

78 FR 30346 - Financial Investors Trust and Hanson McClain Strategic Advisors, Inc.; Notice of Application

Science.gov (United States)

2013-05-22

...] Financial Investors Trust and Hanson McClain Strategic Advisors, Inc.; Notice of Application May 15, 2013... instruments. Applicants: Financial Investors Trust (the ``Trust''), on behalf of the Pathway Advisors... consistent with the public interest and the protection of investors. Applicants seek an exemption under...

Future strategic directions for radioactive waste management programmes

International Nuclear Information System (INIS)

Anon.

1999-01-01

The NEA Radioactive Waste Management Committee (RWMC) has identified six strategic areas as priorities for work in the coming years. These strategic areas, listed in this paper, are described in a NEA publication (Strategic Areas in Waste Management: the viewpoint and work orientations of the NEA RWMC

Strategic Management of Innovations at Pharmaceutical Enterprises

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Honcharova Svіtlana Yu.

2014-01-01

Full Text Available The article is devoted to theoretical and practical issues of the use of the concept of strategic management of innovations at pharmaceutical enterprises. It studies main barriers, which restrict development of Ukrainian pharmaceutical enterprises. It analyses the state and tendencies of development of innovation activity of pharmaceutical enterprises and studies foreign experience of innovation activity. It marks out specific features of strategic management of innovation development in pharmaceutical industry. It specifies the role and advantages of methods of strategic analysis in the system of management of a pharmaceutical enterprise. It considers the essence of “innovation development” and “innovation model of development” notions and analyses their organisational and legal provision. It justifies strategic tasks of the pharmaceutical filed to focus on in order to achieve a breakthrough when building an innovation model of economic development. The article proves that the most important factors that ensure growth of efficiency of pharmaceutical production are: wide application of the concept of strategic management and creation of innovations.

STRATEGIC PLANNING IN INFORMATION RESOURCES MANAGEMENT

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Cezar VASILESCU

2013-10-01

Full Text Available The field of strategic management has offered a variety of frameworks and concepts for the past years, many with the declared aim of “taking business and its management seriously”. Strategic planning can help an organization to build its sustained competitive advantage in the face of an uncertain marketplace, but it requires new ways of thinking in order to create feasible alternatives. This article examines how the Chief Information Officer (CIO can use strategy and planning as an enabler to meet the mission of an organization. The analysis focuses on some common problems that occur in strategic planning. Managers need to identify these potential issues, so that they can recognize and deal with them if they arise in their own strategic planning. A systems approach is taken which presents planning as an open inclusive process that seeks to produce flexible systems capable of growth and adaptation to meet changing needs and missions.

Integrated Strategic Planning of Global Production Networks and Financial Hedging under Uncertain Demands and Exchange Rates

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Achim Koberstein

2013-11-01

Full Text Available In this paper, we present a multi-stage stochastic programming model that integrates financial hedging decisions into the planning of strategic production networks under uncertain exchange rates and product demands. This model considers the expenses of production plants and the revenues of markets in different currency areas. Financial portfolio planning decisions for two types of financial instruments, forward contracts and options, are represented explicitly by multi-period decision variables and a multi-stage scenario tree. Using an illustrative example, we analyze the impact of exchange-rate and demand volatility, the level of investment expenses and interest rate spreads on capacity location and dimensioning decisions. In particular, we show that, in the illustrative example, the exchange-rate uncertainty cannot be completely eliminated by financial hedging in the presence of demand uncertainty. In this situation, we find that the integrated model can result in better strategic planning decisions for a risk-averse decision maker compared to traditional modeling approaches.

PUBLIC-PRIVATE DISTINCTIONS AND STRATEGIC MANAGEMENT

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Ioan NICOLAE

2007-01-01

Full Text Available Public organizations are no longer synonymous with governmental agencies but include many for-profit service organizations as well as the third sector, which is made up of the private NPOs. Such diverse organizations. meet the publicness criterion to the extent that they cannot ignore publicness when dealing with development of strategy. Competitive models of strategic management have little use in organizations with significant degrees of publicness. Instead, a strategy should be sought which enhances cooperation and collaboration. Strategic management in public settings must identify the beliefs and demands of key stakeholders and deal with elaborate fictions held by these individuals to premise development and guide implementation. Strategic managers must carefully collaborate with their oversight body as they fashion a strategy.

Strategic Management Foundations and Employee Performance of ...

African Journals Online (AJOL)

Strategic management foundation is a fundamental part of any organization. Strategic management comprise of environmental scanning, strategy formulation, implementation, evaluation and control. Through this process, an organization plans its activities which shall be profitable to the firm. Employee performance is the ...

Integrating physical and financial approaches to manage environmental financial risk

Science.gov (United States)

Characklis, Gregory; Meyer, Eliot; Foster, Benjamin

2017-04-01

Physical and/or engineered solutions have long been used to manage risks associated with adverse environmental events. Examples include reservoirs as a tool for mitigating drought-related supply risk, levees for managing flood risk and dredging of inland waterways to ensure navigability during low flow periods. These measures can reduce many types of risk (e.g., loss of life), but are often employed as a means of protecting against financial losses. When the focus is on managing environmental financial risk, physical solutions can be effective, but also costly. In many cases, non-physical tools can provide a less expensive means of managing financial risk, with these often taking the form of financial instruments such as hedging contracts, contingency funds or insurance. Some of these instruments, such as flood insurance, are widely available, but historically many environmental financial risks have been managed primarily (or solely) via physical solutions without much consideration of alternatives, thereby opening opportunities for innovation in developing financial solutions. Recent research has demonstrated that financial instruments can play a significant role in managing drought-related financial risk in sectors as diverse as water utilities, energy generation and inland navigation. Nonetheless, this work has largely considered the use of these instruments within systems in which physical solutions are already in place (but failing to achieve desired performance). The next step in the evolution of managing environmental financial risk involves developing methods for designing risk management strategies that do not assume an established physical system. Here the goal is to identify the relative role that physical solutions and financial instruments should play as they are integrated into a comprehensive risk management strategy. This is not a straightforward challenge as one approach reduces the risk of financial losses and the other redistributes those losses

STAGES AND EVOLUTIONS IN STRATEGIC MANAGEMENT ACCOUNTING

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CĂRUNTU GENU ALEXANDRU

2016-06-01

Full Text Available Strategic management accounting includes inside, outside the company and future oriented tools, which have as role monitoring the strategy, its communication and helping develop new strategies. A special category in strategic management accounting is the performance management systems, covering a sum of indicators from diverse sources which support the pursuit of creating value for partners.

Public health financial management competencies.

Science.gov (United States)

Honoré, Peggy A; Costich, Julia F

2009-01-01

The absence of appropriate financial management competencies has impeded progress in advancing the field of public health finance. It also inhibits the ability to professionalize this sector of the workforce. Financial managers should play a critical role by providing information relevant to decision making. The lack of fundamental financial management knowledge and skills is a barrier to fulfilling this role. A national expert committee was convened to examine this issue. The committee reviewed standards related to financial and business management practices within public health and closely related areas. Alignments were made with national standards such as those established for government chief financial officers. On the basis of this analysis, a comprehensive set of public health financial management competencies was identified and examined further by a review panel. At a minimum, the competencies can be used to define job descriptions, assess job performance, identify critical gaps in financial analysis, create career paths, and design educational programs.

Strategic Management in the Era of Cooperation

DEFF Research Database (Denmark)

Strand, Robert

Whereas strategic management in the U.S. has traditionally focused on competition and a competitive advantage, Scandinavian strategic management has long centered on effective cooperation. In light of recent calls in the U.S. to shift toward cooperation to realize opportunities for shared value...

STRATEGIC MANAGEMENT OF DEVELOPMENT OF RURAL TERRITORIES OF UKRAINE

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S. T. Slyusar

2014-04-01

Full Text Available In article features of strategic management by development of rural territories at regional level are considered, stages of strategic management, a role and a place of local and government bodies of the power in strategic instruments of development of ensuring strategic management in rural areas are defined and analysed. Foreign experience, for comparison of methods of development of rural areas in the different countries is investigated.Purchase on Elibrary.ru > Buy now

THE MODELS OF STRATEGIC MANAGEMENT OF INFOCOMM BUSINESS

OpenAIRE

M. A. Lyashenko

2015-01-01

Consideration subject in this article are models of strategic management of large transnational information and communication business. The purpose of the presented work consists in formation of ideas of model of strategic management on the example of infocommunication business. For achievement of a goal the author of article carries out the analysis and synthesis of the existing practice of strategic management in infocommunication business. For achievement of a goal, as methodological base,...

Achieving competitive advantage through strategic human resource management.

Science.gov (United States)

Fottler, M D; Phillips, R L; Blair, J D; Duran, C A

1990-01-01

The framework presented here challenges health care executives to manage human resources strategically as an integral part of the strategic planning process. Health care executives should consciously formulate human resource strategies and practices that are linked to and reinforce the broader strategic posture of the organization. This article provides a framework for (1) determining and focusing on desired strategic outcomes, (2) identifying and implementing essential human resource management actions, and (3) maintaining or enhancing competitive advantage. The strategic approach to human resource management includes assessing the organization's environment and mission; formulating the organization's business strategy; assessing the human resources requirements based on the intended strategy; comparing the current inventory of human resources in terms of numbers, characteristics, and human resource management practices with respect to the strategic requirements of the organization and its services or product lines; formulating the human resource strategy based on the differences between the assessed requirements and the current inventory; and implementing the appropriate human resource practices to reinforce the strategy and attain competitive advantage.

Integration of Strategic Management, Governance and Risk Management: Impact of the Crisis of 2008 in Two Companies of Food

Directory of Open Access Journals (Sweden)

Antonio Francisco de Almeida da Silva Junior

2013-12-01

Full Text Available During the crisis of 2008, several Brazilian companies have accumulated losses that worth billions, as the result of a high foreign exchange rate exposure and failures in risk management and Corporate Governance. The aim of this research is to identify the strategic factors that contributed to two very similar companies to follow different paths in the financial crisis of 2008. To better understanding the subject, it was made a brief analysis of the foundations of the Corporate Governance, the requirements listed by BM&FBOVESPA and the principles of the financial risk management. The research identified that the practice of risk management is crucial in implementing best practices of corporate governance and that despite numerous initiatives of various institutions and regulators in establishing self-regulatory mechanisms to ensure the use of these practices, there are still flaws able to allow companies previously considered solid incurring in strategies that may jeopardize its existence.

A STRATEGIC MANAGEMENT MODEL FOR SERVICE ORGANIZATIONS

OpenAIRE

Andreea ZAMFIR

2013-01-01

This paper provides a knowledge-based strategic management of services model, with a view to emphasise an approach to gaining competitive advantage through knowledge, people and networking. The long-term evolution of the service organization is associated with the way in which the strategic management is practised.

14 CFR 1260.26 - Financial management.

Science.gov (United States)

2010-01-01

... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Financial management. 1260.26 Section 1260... AGREEMENTS General Provisions § 1260.26 Financial management. Financial Management August 2003 (a) Advance payments through a Letter of Credit will be made by the Financial Management Office of the NASA Center...

Financial management of construction contractors.

OpenAIRE

Lacaria, Chris J.

1994-01-01

The scope of this paper is to discuss the financial management of a construction contractor. This paper attempts to approach this subject in a logical and systematic way. It communicates the importance of financial analysis and planning along with cash planning and profit planning. This report is not intended to be an all inclusive discussion of financial management in construction. Contractor's Financial Management is an extremely important subject. It has been told ...

Model of modern strategic management of an enterprise: contents and components

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I.T. Raykovska

2015-09-01

Full Text Available The article investigates different interpretations and definitions of the concept of strategic management. It also aims to identify the ways of revealing the components and peculiarities of the concept.On the base of the critical analysis of economic literature the author singles out process, target, and complex approaches to the interpretation of the essence of strategic management and indicates that strategic management is a complex concept that encompasses management of strategic opportunities and operative management of problems in real time to respond to unpredictable changes fast. According to the modern understanding of strategic management the author singles out its main peculiarities which presuppose ensuring of quick response of an enterprise to the changes of external environment with the help of already developed strategic methods and models, strategic thinking of employees of an economic entity aimed at achieving its development strategy. The parameters of comparison of operating and strategic management are systematized. It is established that operating management is centered on the search for the ways of better use of enterprise resources, while strategic management looks to the needs and changes of external environment, tracking and adapting to its changes, search for new possibilities in competitive environment. The conceptual model of strategic management of an enterprise is formed. It is stated that the use of the model enables to determine the place of strategic analysis in the discussed system and to ensure the fulfillment of strategic plans.

Theoretical and methodological aspects of strategic sales management of enterprise

OpenAIRE

Hurzhiy, N.

2014-01-01

In the article existing approaches to strategic management are analyzed, features and a concept of strategic sales management are defined. Also in the article there is encouraged to use processdesign approach in the implementation of strategic management. Also the principles which should be carried out by strategic management of sales activities are identified in relation to the elements of the systemsales activities, as consumers, state infrastructure software sales, competition and enterprise.

Hoshin Kanri: a technique for strategic quality management.

Science.gov (United States)

Tennant, C; Roberts, P A

2000-01-01

This paper describes a technique for Strategic Quality Management (SQM), known as Hoshin Kanri, which has been operated as a management system in many Japanese companies since the 1960s. It represents a core aspect of Japanese companies' management systems, and is stated as: the means by which the overall control system and Total Quality Management (TQM) are deployed. Hoshin Kanri is not particularly unique in its concept of establishing and tracking individual goals and objectives, but the manner in which the objectives and the means to achieve them are developed and deployed is. The problem with applying the concept of Strategic Quality Management (SQM) using Hoshin Kanri, is that it can tend to challenge the traditional authoritarian strategic planning models, which have become the paradigms of modern business. Yet Hoshin Kanri provides an appropriate tool for declaration of the strategic vision for the business while integrating goals and targets in a single holistic model. There have been various adaptations of Hoshin Kanri to align the technique to Western thinking and management approaches, yet outside Japan its significance has gone largely unreported. It is proposed that Hoshin Kanri is an effective methodology for SQM, which has a number of benefits over the more conventional planning techniques. The benefits of Hoshin Kanri as a tool for Strategic Quality Management (SQM) compared to conventional planning systems include: integration of strategic objectives with tactical daily management, the application of the plan-do-check-act cycle to business process management, parallel planning and execution methodology, company wide approach, improvements in communication, increased consensus and buy-in to goal setting, and cross-functional-management integration.

An Empirical Study of Financial Shared Services: Understanding of an organization moves towards establishing financial shared service as a strategic finance function

OpenAIRE

Nik Mustaffa, Nik Azah Karimah

2009-01-01

This paper is prepared to understand an organization moves towards establishing financial shared service as a strategic finance function. The research is conducted by selected few multinational organizations from oil and gas industry to analyze the purpose of the move, how organizations are restructure and values generated from the financial shared services. The research also will extend towards identifying various challenges faced by the organizations during the restructuring process. The is...

Strategic innovation portfolio management

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Stanković Ljiljana

2015-01-01

Full Text Available In knowledge-based economy, strategic innovation portfolio management becomes more and more important and critical factor of enterprise's success. Value creation for all the participants in value chain is more successful if it is based on efficient resource allocation and improvement of innovation performances. Numerous researches have shown that companies with best position on the market found their competitiveness on efficient development and exploitation of innovations. In decision making process, enterprise's management is constantly faced with challenge to allocate resources and capabilities as efficiently as possible, in both short and long term. In this paper authors present preliminary results of realized empirical research related to strategic innovation portfolio management in ten chosen enterprises in Serbia. The structure of the paper includes the following parts: theoretical background, explanation of research purpose and methodology, discussion of the results and concluding remarks, including limitations and directions for further research.

Le directeur financier

OpenAIRE

Mattiacci , Noëllie

2015-01-01

Following multiple economic crises, the Chief Financial Officer has become a major player within the company. Its missions have unquestionably evolved. Initially, he performed accounting missions ensuring effective financial management. Today, it occupies the strategic functions necessary to the development of the company. This diversity of skills allows him to have a global and cross-enterprise vision. Despite its leading role, no study was conducted concerning the determination of the legal...

Training hospital managers for strategic planning and management: a prospective study.

Science.gov (United States)

Terzic-Supic, Zorica; Bjegovic-Mikanovic, Vesna; Vukovic, Dejana; Santric-Milicevic, Milena; Marinkovic, Jelena; Vasic, Vladimir; Laaser, Ulrich

2015-02-26

Training is the systematic acquisition of skills, rules, concepts, or attitudes and is one of the most important components in any organization's strategy. There is increasing demand for formal and informal training programs especially for physicians in leadership positions. This study determined the learning outcomes after a specific training program for hospital management teams. The study was conducted during 2006 and 2007 at the Centre School of Public Health and Management, Faculty of Medicine, University of Belgrade and included 107 participants involved in the management in 20 Serbian general hospitals. The management teams were multidisciplinary, consisting of five members on average: the director of the general hospital, the deputy directors, the head nurse, and the chiefs of support services. The managers attended a training program, which comprised four modules addressing specific topics. Three reviewers independently evaluated the level of management skills at the beginning and 12 months after the training program. Principal component analysis and subsequent stepwise multiple linear regression analysis were performed to determine predictors of learning outcomes. The quality of the SWOT (strengths, weaknesses, opportunities and threats) analyses performed by the trainees improved with differences between 0.35 and 0.49 on a Likert scale (p strategic planning. Following the training program, the external environment, strategic positioning, and quality of care were predictors of learning outcomes. The four regression models used showed that the training program had positive effects (p Strategic Plan comprising the hospital mission, vision, strategic objectives, and action plan. This study provided evidence that training for strategic planning and management enhanced the strategic decision-making of hospital management teams, which is a requirement for hospitals in an increasingly competitive, complex and challenging context. For the first time, half of

Applying strategic management theories in public sector organizations

DEFF Research Database (Denmark)

Hansen, Jesper Rosenberg; Ewan, Ferlie

2016-01-01

This article discusses the utility of two different strategic management theories in different types of public organizations including contemporary New Public Management-based public organizations, namely Porter's strategic positioning model and the resource-based view of strategy. We argue...... conditions: the degree of administrative autonomy, performance-based budgeting and market-like competition. We give empirical examples drawn from public servives in the UK and Denmark. We call for more exploration of these (and other) strategic management approaches within contemporary public services...

The Strategic Analysis as a Management Tool to Improve the Performance of National Enterprises

Directory of Open Access Journals (Sweden)

Shtal Tetiana V.

2018-01-01

Full Text Available The publication considers the issue of improving the performance of enterprises, in particular of their international activities. In order to address this problem, the management of development of international activities uses a variety of tools, one of which is strategic analysis, which allows to analyze the overall status of enterprise, as well as determine the directions of improvement of its efficiency. The main methods of strategic analysis, the appropriateness of their use depending on the set goals and objectives were analyzed. Practical application of separate methods in the strategic analysis (such as model by I. Adizes, model of «five forces» of competitiveness according to Porter, analysis of financial indicators and costs, PEST-analysis and SWOT-analysis is considered on the example of machine-building enterprises, specializing in the production of turbo-expanders. Recommendations on development of their efficiency have been offered.

IMPROVEMENT OF STRATEGIC MANAGEMENT OF THE INDUSTRIAL ENTERPRISE

Directory of Open Access Journals (Sweden)

Anna E. Gorokhova

2015-01-01

Full Text Available The subject / topic: The subject of this article is very actual in the light of formation of post-industrial economy and need of improvement of methods, tools and mechanisms of management of economic subjects. The main reason for low efficiency of the industrial enterprises consists now that the developed stereotypes of managing and the applied methods of management don't conform to requirements of market economy. In article advantages of introduction of instruments of strategic management in activity of the industrial enterprises are considered.The purpose / objectives: The purpose of article is the analysis of the directions of improvement of strategic management of the industrial enterprise in modern economic conditions. Objectives of the article: To investigate differences of strategic management of the industrial enterprise from traditional, to analyse modern strategy of the industrial enterprises, to reveal their features and scopes.Methodology: A methodical basis of this article are comparative methods of the analysis.The Results: Difference of strategic management of the industrial enterprise from the traditional is investigated. Possibility of strategic development of the industrial companies only at systematic introduction of innovations is proved. Modern strategy of development of the industrial enterprises are analysed: modern strategy of development in retail networks of sales of mobile phones, outsourcing strategy, strategy of development of the company on the basis of a matrix «a growth / share of the market», strategy of fight for intellectual leadership, strategy of ecosystems of J. F. Moore; their features and scopes are revealed.Conclusions / significance: It is necessary to expand practical use of instruments of strategic management in activity of the industrial enterprises as they allow to increase management efficiency as a result of the accounting of opportunities and threats of environment and current state of the

76 FR 78703 - American Century Strategic Asset Allocations, Inc., et al.;

Science.gov (United States)

2011-12-19

...] American Century Strategic Asset Allocations, Inc., et al.; Notice of Application December 13, 2011. AGENCY... Century Strategic Asset Allocations, Inc. (``ACSAA''), American Century Investment Management, Inc... with its investment objectives, policies, strategies and limitations, in financial instruments that may...

Strategic Aspects of Cost Management

Directory of Open Access Journals (Sweden)

Angelika I. Petrova

2013-01-01

Full Text Available This report is a summary of a research done on the area of Strategic Cost Management (SCM. This report includes a detailed discussion and application of Life Cycle Costing (LCC which a company can use to achieve its strategic objects in today's dynamic business environment. Hence, the main focus of this report is on LCC as mentioned

Required Steps of Managing International Equity Placement Strategic Alliance

Directory of Open Access Journals (Sweden)

Harimukti Wandebori

2012-01-01

Full Text Available The purpose of the research is to unravel the steps of managing international equity placement strategic alliance (IEPSA. The steps of managing an IEPSA are obtained by conducting theoretical review. The theoretical reviews consist of theory of strategic alliance; definition, classification, and finding definition of an IEPSA, political and analytical considerations and the necessary steps. These steps of managing IEPSA can be classified into analyzing of macro consideration, micro consideration, domestic company’s stakeholder support, cultural understanding, strategic planning, internal support, human resource management, organizational arrangement, management control system, evolved cultural understanding, and evaluating results. In this research, the domestic partners who formed the IEPSAs are limited to State-Owned Enterprises (SOEs. The IEPSA was one of the means of privatization. The research will be beneficial for both foreign and domestic partners who form an IEPSA in the previous SOEs. By knowing the steps of managing the IEPSA both partners will be able to secure a successful implementation of IEPSA. By identifying the steps of managing the IEPSA, the stakeholder will not see IEPSA as threat rather as an opportunity to improve performance, to create synergy, and generate benefits for both partners and stakeholder. By knowing the necessary steps of managing the IEPSA, the stakeholder including society and politician will envisage the IEPSA as a means of effectively improving the SOEs’ performances.The research was espected to provide contributions for the research on strategic alliances. Apparently, there exist no literatures discussing about IEPSA in the domain of strategic alliances. Keywords: strategic alliance, equity placement, international equity placement strategic alliance, privatization, steps of international equity placement strategic alliance, state-owned enterprises

Public hospitals in financial distress: Is privatization a strategic choice?

Science.gov (United States)

Ramamonjiarivelo, Zo; Weech-Maldonado, Robert; Hearld, Larry; Menachemi, Nir; Epané, Josué Patien; O'Connor, Stephen

2015-01-01

As safety net providers, public hospitals operate in more challenging environments than private hospitals. Such environments put public hospitals at greater risk of financial distress, which may result in privatization and deterioration of the safety net. The purpose of this study was to investigate whether financial distress is associated with privatization among public hospitals. We used panel data merged from the American Hospital Association Annual Survey, Medicare Cost Reports, Area Resource File, and Local Area Unemployment Statistics. Our study population consisted of all U.S. nonfederal acute care public hospitals in 1997 tracked through 2009, resulting in 6,426 hospital-year observations. The dependent variable "privatization" was defined as conversion from public status to either private not-for-profit or private for-profit status. The main independent variable, "financial distress," was based on the Altman Z-score methodology. Control variables included market and organizational factors. Two random-effects logistic regression models with state and year fixed-effects were constructed. The independent and control variables were lagged by 1 year and 2 years for Models 1 and 2, respectively. Public hospitals in financial distress had greater odds of being privatized than public hospitals not in financial distress: (OR = 4.53, p resources and may provide financial relief to government entities from the burden of continuously funding a hospital operating at a loss, which in turn may help keep the hospital open and preserve access to care for the community. Privatizing a financially distressed public hospital may be a better strategic alternative than closure. The Altman Z-score could be used as a managerial tool to monitor hospitals' financial condition and take corrective actions.

Managing transdisciplinarity in strategic foresight

DEFF Research Database (Denmark)

Rasmussen, Birgitte; Andersen, Per Dannemand; Borch, Kristian

2010-01-01

Strategic foresight deals with the long term future and is a transdisciplinary exercise which, among other aims, addresses the prioritization of science and other decision making in science and innovation advisory and funding bodies. This article discusses challenges in strategic foresight...... in relation to transdisciplinarity based on empirical as well as theoretical work in technological domains. By strategic foresight is meant future oriented, participatory consultation of actors and stakeholders, both within and outside a scientific community. It therefore allows multiple stakeholders...... strategic foresight has now been widely accepted for strategy-making and priority-setting in science and innovation policy, the methodologies underpinning it still need further development. Key findings are the identification of challenges, aspects and issues related to management and facilitation...

The application of financial management in enterprise management

Institute of Scientific and Technical Information of China (English)

刘国晴

2017-01-01

Nowadays, financial management plays a vital role in the process of enterprise operation. To improve the level and ability offinancial management of enterprises is of great significance to the realization of the modernization of enterprises and the sustainable development ofscience. In this paper, the financial management status would be first proposed, and suggestions would be made to improve the financial managementin enterprises.

Importance of Strategic Management in Business

Directory of Open Access Journals (Sweden)

Yakup DURMAZ

2016-03-01

Full Text Available Today, we see a busy and fast period of change in all area of our life. This process consistently changes especially the management domain and forces business managers to be ready to change at any moment. Change has become so fast all around the world and it has turned into a multidimensional concept. The period of change in which we live in an interactive and fast way in political, social, cultural and economic areas brings up different processes such as quick start, quick decision making, bringing more dynamics and flexibility structure to management. In this context, the main idea of our study is based on that businesses should manage the process of change by using strategies. Businesses which understand clearly what strategy is and design their future plans based on those strategies are going to be more successful than their competitors in the environments seen fierce competition and fast change. In our study formed around this basic thesis, first we will make a conceptual analysis related to strategies, then refer to the importance of strategic management and we will examine strategic management contributions to businesses and finally, we will mention the importance of connection between strategy and culture of an organization to be enable more success in the strategic management process.

Implementing Knowledge Management as a Strategic Initiative

National Research Council Canada - National Science Library

DiGiacomo, Joseph

2003-01-01

... are: leadership, organization, technology and leaning. Knowledge management was one of five strategic initiatives in the overall strategic plan, which was developed using Kaplan and Norton's Balanced Scorecard methodology...

STRATEGIC MANAGEMENT IN NONPROFIT AND PUBLIC ORGANIZATIONS

Directory of Open Access Journals (Sweden)

Ioan NICOLAE

2008-01-01

Full Text Available Strategic management in public organizations can use coerciveness as a keyelement of their strategy. Private organizations are more dependent onmarketing or selling to potential customers. As publicness increases,marketing declines in importance and maintaining favorable coercivearrangements increases in importance. Strategic managers should be awareof coercive opportunities in their mandates as they fashion strategy anddevise implementation plans.

7 CFR 634.40 - Financial management.

Science.gov (United States)

2010-01-01

... 7 Agriculture 6 2010-01-01 2010-01-01 false Financial management. 634.40 Section 634.40..., DEPARTMENT OF AGRICULTURE LONG TERM CONTRACTING RURAL CLEAN WATER PROGRAM Financial Management § 634.40 Financial management. (a)(1) Finance and accounting will be in conformance with Office of Management...

Strategic Project Management at the NASA Kennedy Space Center

Science.gov (United States)

Lavelle, Jerome P.

2000-01-01

This paper describes Project Management at NASA's Kennedy Space Center (KSC) from a strategic perspective. It develops the historical context of the agency and center's strategic planning process and illustrates how now is the time for KSC to become a center which has excellence in project management. The author describes project management activities at the center and details observations on those efforts. Finally the author describes the Strategic Project Management Process Model as a conceptual model which could assist KSC in defining an appropriate project management process system at the center.

FINANCIAL AND MARKETING PERSPECTIVE OF A COMPANY ACCORDING TO THE CONCEPT OF STRATEGIC BALANCE SCORECARD

Directory of Open Access Journals (Sweden)

Jugoslav Aničić

2016-01-01

Full Text Available Balance scorecard was created in the 1990’s and it represents one of the most significant management ideas with the possibility of application in private, public and non-profit sector. It was created in need to respond to demands of intangible assets measurements which participate with more than a half of many great companies’ value in last decades. Balance scorecard ensures insight into business possibilities and fulfillment of strategic goals from four perspectives: financial, marketing, internal and perspective of learning and growth. Balance scorecard measures and monitors human, information and organizational capital of a company with the aim of establishing to what extent this elements of intangible assets contribute to company’s strategy realization. Standpoint for creation of this concept was an evident gap between corporate top strategy and understanding that strategy at lower levels of management and levels of translating strategies into actual business activities.

A model of strategic product quality and process improvement incentives

NARCIS (Netherlands)

Veldman, Jasper; Gaalman, G.

2013-01-01

In many production firms it is common practice to financially reward managers for firm performance improvement. The use of financial incentives for improvement has been widely researched in several analytical and empirical studies. Literature has also addressed the strategic effect of incentives, in

PLEADING IN FAVOUR OF STRATEGIC MANAGEMENT

Directory of Open Access Journals (Sweden)

Teodor Frunzeti

2016-10-01

Full Text Available Strategic management focuses on future development of organizations, based on a vision and a strategy. If strategic leaders demonstrate epistemic competencies, business can take place not according to the zero sum game rule, where there are always winners and losers, but to a non-zero sum game rule, where there could be only winners and no losers. Epistemic competence is given by the scientific nature of knowledge, it breaks down the mental automatism generated by common day to day personal experience and it uses mathematical models and other specific methods. Strategic management and its practical content can best be understood within the context of the theory of organization, for organizations are indispensable for the general human and civilizational progress.

Financial Management and Young Australian Workers

Science.gov (United States)

Dowling, Nicki; Hoiles, Lauren; Corney, Tim; Clark, David

2008-01-01

In two studies of young Australian workers, participants generally displayed positive attitudes towards financial management practices; however, a substantial proportion failed to display positive financial management practices, experienced financial problems and dissatisfaction, and reported low rates of seeking financial assistance, particularly…

The Strategic Risk Management at Different Stages of Innovation Project

Directory of Open Access Journals (Sweden)

Pysmak Viktoriia O.

2017-03-01

Full Text Available This article considers the theoretical principles of the strategic risk management at every stage of innovation project. Relevance of the selected area of research has been substantiated in view of the necessity to provide the theoretical and practical foundations for the strategic risk management of innovation activity. Principles of management of innovation at a contemporary enterprise have been allocated. Analysis of such concepts as «risk», «innovation», «strategic management» was carried out. The concept of «innovation project» has been considered, its features and characteristics have been allocated. The basic tools of the strategic management of enterprise in current conditions have been described. The basic principles of the strategic risk management of innovation activity have been formulated. A scheme with allocating the stages of innovation activity and the risks involved has been elaborated, taking into consideration the factors of occurrence of risks. The main groups of management strategies have been allocated. The tasks facing the managerial board in the process of the strategic risk management at every stage of the innovation project have been formulated.

Financial analysis as a financial management instrument

Directory of Open Access Journals (Sweden)

Stehlíková Beáta

2001-12-01

Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firm’s financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide “en bloc”.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting

Strategic Management Tools and Techniques: A Comparative Analysis of Empirical Studies

Directory of Open Access Journals (Sweden)

Albana Berisha Qehaja

2017-01-01

Full Text Available There is no doubt that strategic management tools and techniques are important parts of the strategic management process. Their use in organizations should be observed in a practice-based context. This paper analyzes the empirical studies on the usage of strategic management tools and techniques. Hence, the main aim of this study is to investigate and analyze which enterprises, according to their country development level, use more strategic management tools and techniques and which of these are used the most. Also, this paper investigates which strategic management tools and techniques are used globally according to the results of empirical studies. The study presents a summary of empirical studies for the period 1990–2015. The research results indicate that more strategic tools and techniques are used in developed countries, followed by developing countries and fewest in countries in transition. This study is likely to contribute to the field of strategic management because it summarizes the most used strategic tools and techniques at the global level according to varying stages of countries’ economic development. Also, the findings from this study may be utilized to maximize the full potential of enterprises and reduce the cases of entrepreneurship failures, through creating awareness of the importance of using strategic management tools and techniques.

Strategic nutrient management of field pea in southwestern Uganda ...

African Journals Online (AJOL)

Strategic nutrient management of field pea in southwestern Uganda. ... African Journal of Food, Agriculture, Nutrition and Development ... Strategic nutrient management requires that the most limiting nutrient is known in order to provide a foundation for designing effective and sustainable soil fertility management ...

A portfolio management system in the strategic management process

Directory of Open Access Journals (Sweden)

Qifan Huang

2017-02-01

Full Text Available Strategic management is the process of “what we are” which decides and implements “what we intend to be and how we are going to get there.” Strategy describes how an organization intends to compete with the resource available in the existing and perceived future environment. “Project management” is ancient, but also emerging. The wise human ancestors left numerous miracles with us, project management is a branch of the discipline of management, including the pyramids, statues of Zeus, Lighthouse of Alexandria, etc., which are brilliant pages in the history of project management. A project is a plan to solve the problem and effectively complete the established goal of the projects, so you have to go on strategic management for the project. Policy management is the means to achieve its objectives, including planning, implementation and control process. Strategic management is to gather staffs with different functions and form the project team. Due to its properties with a variety of different functions, more flexible management of property strategy in accordance with its special functions should be made in response to the changing internal and external environment. Management of functions is the role and performance management. It is not crime and punishment, but sparse and guide. Instead of the occurrence and discovery of issues, the difficulty is finding the solutions to problems by observations and recommendations. The management functions need to recognize their own responsibilities, and help the company to have a more long-term development of rational thinking.

7 CFR 247.27 - Financial management.

Science.gov (United States)

2010-01-01

... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management. 247.27 Section 247.27... AGRICULTURE CHILD NUTRITION PROGRAMS COMMODITY SUPPLEMENTAL FOOD PROGRAM § 247.27 Financial management. (a) What are the Federal requirements for State and local agencies with regard to financial management...

Strategic Human Resources Management

Directory of Open Access Journals (Sweden)

Marta Muqaj

2016-07-01

Full Text Available Strategic Human Resources Management (SHRM represents an important and sensitive aspect of the functioning and development of a company, business, institution, state, public or private agency of a country. SHRM is based on a point of view of the psychological practices, especially by investing on empowerment, broad training and teamwork. This way it remains the primary resource to maintain stability and competitiveness. SHRM has lately evolved on fast and secure steps, and the transformation from Management of Human Resources to SHRM is becoming popular, but it still remains impossible to exactly estimate how much SHRM has taken place in updating the practices of HRM in organizations and institutions in general. This manuscript aims to make a reflection on strategic management, influence factors in its practices on some organizations. Researchers aim to identify influential factors that play key roles in SHRM, to determine its challenges and priorities which lay ahead, in order to select the most appropriate model for achieving a desirable performance. SHRM is a key factor in the achievement of the objectives of the organization, based on HR through continuous performance growth, it’s a complex process, unpredictable and influenced by many outside and inside factors, which aims to find the shortest way to achieve strategic competitive advantages, by creating structure planning, organizing, thinking values, culture, communication, perspectives and image of the organization. While traditional management of HR is focused on the individual performance of employees, the scientific one is based on the organizational performance, the role of the HRM system as main factor on solving business issues and achievement of competitive advantage within its kind.

Conflict Resolution in Organization through Strategic Management

OpenAIRE

F. Zafar; H. Ashfaq; Muhammad Ahmad Ali; M. Imran

2014-01-01

This study reveals the conflict Resolution in organization through Strategic management. There are different causes of conflicts within Organization and impact of conflicts on organization performance. The past decade researches identify the negative relation of conflict with employee performance. The research methodology was case study approach of different National and Multinational companies. The aim of study is to alleviate conflicts in organization through strategic management for enhanc...

Strategic Information Resources Management: Fundamental Practices.

Science.gov (United States)

Caudle, Sharon L.

1996-01-01

Discusses six fundamental information resources management (IRM) practices in successful organizations that can improve government service delivery performance. Highlights include directing changes, integrating IRM decision making into a strategic management process, performance management, maintaining an investment philosophy, using business…

Improving the Success of Strategic Management Using Big Data.

Science.gov (United States)

Desai, Sapan S; Wilkerson, James; Roberts, Todd

2016-01-01

Strategic management involves determining organizational goals, implementing a strategic plan, and properly allocating resources. Poor access to pertinent and timely data misidentifies clinical goals, prevents effective resource allocation, and generates waste from inaccurate forecasting. Loss of operational efficiency diminishes the value stream, adversely impacts the quality of patient care, and hampers effective strategic management. We have pioneered an approach using big data to create competitive advantage by identifying trends in clinical practice, accurately anticipating future needs, and strategically allocating resources for maximum impact.

Strategic Management in the Knowledge Economy New Approaches and Business Applications

CERN Document Server

Leibold, Marius; Gibbert, Michael

2005-01-01

Due to the dramatic shifts in the knowledge economy, this book provides a significant departure from traditional strategic management concepts and practice. Designed for both advanced students and business managers, it presents a unique combination of new strategic management theory, carefully selected strategic management articles by prominent scholars such as Gary Hamel, Michael Porter, Peter Senge, and real-world case studies. On top of this, the authors link powerful new benchmarks in strategic management thinking, including the concepts of Socio-Cultural Network Dynamics, Systemic Scoreca

Making Risk Management Strategic

DEFF Research Database (Denmark)

Sax, Johanna; Andersen, Torben Juul

2018-01-01

Enterprise risk management (ERM) is an established management practice and is increasing in prominence as more firms spend substantial resources implementing ERM frameworks, partially induced by regulatory requirements. Yet, there is a lack of knowledge as to whether such frameworks add value and...... outcomes. The study develops a new multidimensional measure of adherence to ERM practices where earlier studies typically have relied on dichotomous proxies. We discuss the implications of these findings for ERM practice and strategic management in general....

Financial Management, Profile of the Air Force Financial Managers

National Research Council Canada - National Science Library

1997-01-01

... are confined to comparable organizations and financial management positions in the services. These positions most often include comptrollers, deputy comptrollers, and budget officers located at operational...

20 CFR 632.32 - Financial management systems.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Financial management systems. 632.32 Section... Financial management systems. (a) Each Native American grantee, subgrantee and contractor shall maintain a financial management system which will provide accurate, current and complete disclosure of the financial...

The Differential Effects of Financial Aid on Degree Completion by Gender

Science.gov (United States)

Gross, Jacob P. K.; Berry, Matthew; Reynolds, Pauline

2015-01-01

Financial aid and student success are interrelated and essential components of strategic enrollment management. From an economic perspective, by reducing the price students pay, financial aid affects student demand for education. However, financial aid also has nonmonetary effects. For example, students receiving institutional scholarships may…

RISK MANAGEMENT WITH FINANCIAL DERIVATIVES: EMPIRICAL EVIDENCE FROM ROMANIAN NON-FINANCIAL FIRMS

Directory of Open Access Journals (Sweden)

Sorin Gabriel Anton

2016-12-01

Full Text Available Financial risk management has rapidly evolved over the past two decades and has become an indispensable function in many institutions from different area of activities. In the last two decades, as the financial markets have become more and more mature, an increasing number of firms from emerging economies have chosen to use derivatives to hedge financial risks. As a result, risk management with financial derivatives has attracted much attention recently, becoming an important topic in the financial literature. However, we know little about the use of financial derivatives by firms from emerging economies and about the effect of these instruments on firms’ risk and value. The aim of the paper is to provide new insights into the use of financial derivatives for hedging purpose by non-financial firms from emerging markets. We analyzed risk management practices on a sample of 68 non-financial firms listed at Bucharest Stock Exchange (BSE over a long time frame (2001 to 2011. We found that Romanian non-financial firms from our sample are exposed mainly to commodity price risk, currency risk, interest rate risk, and liquidity risk. More than half of the firms in our sample (55.88% publish in their annual reports the goal of risk management process. Our results show that 10.29% of non-financial firms in our sample use financial derivatives to hedge their currency, interest rate or commodity price risks. We also found that the volatility caused by the global financial crisis determined many firms to use financial derivatives over the period 2007-2011. Nevertheless, the use of financial derivatives by Romanian non-financial firms is low relative to values registered for other emerging economies. The most important factors that hindered the use of financial derivatives have been the low liquidity of exchange derivatives markets, high hedging costs, and the lack of risk management expertise. The traditional approach of managing risks individually is

Developing Strategic Alliances in Management Learning

Science.gov (United States)

Thorne, E. Ann; Wright, Gill

2005-01-01

Purpose: The notion of effective strategic alliances provides the basis on which this paper proposes a framework to manage the application and outcomes of management learning. The management of key partner collaboration emerges in this paper as a major success factor in determining effective management learning. A proactive structured approach to…

New knowledge in strategic management through visually mining semantic networks

NARCIS (Netherlands)

Ertek, G.; Tokdemir, G.; Sevinç, M.; Tunç, M.M.

2017-01-01

Today’s highly competitive business world requires that managers be able to make fast and accurate strategic decisions, as well as learn to adapt to new strategic challenges. This necessity calls for a deep experience and a dynamic understanding of strategic management. The trait of dynamic

The 2000 DOD Financial Management Improvement Plan

National Research Council Canada - National Science Library

2001-01-01

The Federal Financial Management Improvement Act of 1996 requires DoD financial management systems to comply substantially with Federal financial management system requirements, Federal accounting standards, and the U.S...

Theoretical framework of integrated strategic performance management system

OpenAIRE

Mitrović, Zorica; Todorović, Marija; Bjelica, Dragan

2015-01-01

The aim of this paper is to present a conceptual model of the integrated strategic performance management system. This model is conceptual framework designed as a result of research that shows significant benefits of integrated application of strategic management and performance management in organizations. The framework consists of five steps: establishing a planning system, establishing of performance measurement system, establishing an accountability system, establishing of the knowledge m...

The Strategic Risk Management at Different Stages of Innovation Project

OpenAIRE

Pysmak Viktoriia O.

2017-01-01

This article considers the theoretical principles of the strategic risk management at every stage of innovation project. Relevance of the selected area of research has been substantiated in view of the necessity to provide the theoretical and practical foundations for the strategic risk management of innovation activity. Principles of management of innovation at a contemporary enterprise have been allocated. Analysis of such concepts as «risk», «innovation», «strategic management» was carried...

7 CFR 249.11 - Financial management system.

Science.gov (United States)

2010-01-01

... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management system. 249.11 Section 249.11... § 249.11 Financial management system. (a) Disclosure of expenditures. The State agency must maintain a financial management system that provides accurate, current and complete disclosure of the financial status...

7 CFR 248.11 - Financial management system.

Science.gov (United States)

2010-01-01

... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management system. 248.11 Section 248.11... § 248.11 Financial management system. (a) Disclosure of expenditures. The State agency shall maintain a financial management system which provides accurate, current and complete disclosure of the financial status...

Strategic Management in Business Information Technology: A Case Study

Directory of Open Access Journals (Sweden)

Marcos Weber

2013-09-01

Full Text Available The Information Technology (IT sector is regarded as strategic for national economy. In Brazil, this sector is formed mostly of micro and small businesses. This article aims at understanding how does the strategic management process occurs in a small IT company, according to the schools of strategy and the strategy-as-practice approach. The method applied was a single case study of a small IT company, located in Rio Grande do Sul. The analyzed data revealed that the company adopts an informal strategic management centered on its directors, which may be related to the entrepreneurial school of strategy. However, data also indicate the presence of features of other schools of strategy along the company trajectory. We analyzed the strategy as social practice at the strategic level and also at the tactical level of the organization, through the guidance of managers, their interactions with customers and suppliers, their decision-making processes, among other practices related to everyday life. The results of the article shed light on the process of strategic management in micro and small IT companies, generating insights that can be useful for managers of similar companies.

77 FR 76606 - Community Development Financial Institutions Fund

Science.gov (United States)

2012-12-28

... technical assistance, entrepreneurship training, and financial management skill-building (including... documents such as strategic plans or market studies unless the CDFI Fund has specifically requested such...

Financial Management: An Organic Approach

Science.gov (United States)

Laux, Judy

2013-01-01

Although textbooks present corporate finance using a topical approach, good financial management requires an organic approach that integrates the various assignments financial managers confront every day. Breaking the tasks into meaningful subcategories, the current article offers one approach.

Effects of collaborative supply chain solutions on strategic performance management

OpenAIRE

Rachan, Wilfred

2012-01-01

Throughout this research the focus has been on unraveling of the factors and relations that link different aspects of collaborative workflow to strategic performance management. However, the same issues that applied to strategic performance management of supply chains also apply to other areas of strategic performance in business. The following (to be - tested) recommendations, organized along the lines of the "expected managerial contributions" therefore apply both to strategic performance m...

Business, Economics, Financial Sciences, and Management

CERN Document Server

2011 International Conference on Business, Economics, and Financial Sciences, Management (BEFM 2011)

2012-01-01

A series of papers on business, economics, and financial sciences, management selected from International Conference on Business, Economics, and Financial Sciences, Management are included in this volume.   Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources.   The proceedings of BEFM2011 focuses on the various aspects of advances in Business, Economics, and Financial Sciences, Management and provides a chance for academic and industry professionals to discuss recent progress in the area of Business, Economics, and Financial Scienc...

FINANCIAL PERFORMANCE IN CREDIT INSTITUTION MANAGEMENT

Directory of Open Access Journals (Sweden)

IOV DANIELA RODICA

2014-05-01

Full Text Available Information concerning financial performance is one of the objectives of the annual financial statements of credit institutions. The main source containing this information is profit and loss statement. A correct and complete information can not be limited to this annual report. Understanding the concept of financial performance requires a holistic approach of the entity. An overview of information on financial performance will be achieved by coordinating information about the profit of the entity, rates of return, cash flows, financing cost and risk. For the economic and financial analysis we often use to separate financial equilibrium indicators of outcome indicators and management indicators. The study upon the financial performance may be based on the income statement, balance sheet and explanatory notes. It may use tools such as: income, interest rates, rates of return, rates of structure, liquidity and solvency rates, rotation rates, cash flows, debt coverage rates and more. Management of banking assets, liabilities and bank risk management must be assembled into a whole. In an uncertain environment, continuously changing, under conditions of the economic and financial crisis, the binomial profitability - risk is increasingly difficult to manage. Under these conditions, the boundary between courage and unconsciousness is also more fragile. On the other hand, the prudence, mandatory rules could be understood as some constraint measures on bank management, that may adversely affect the financial performance of the credit institution.

The Valences of “Value” for the Strategic Management Process

Directory of Open Access Journals (Sweden)

Ogrean Claudia

2016-04-01

Full Text Available Value represents one of the key concepts in strategic management, because the evolution of both the theory and practice of strategic management has been greatly shaped by the generic searching for value. But the approaches of value have been quite various and sometimes controversial, making value one of the most complex and dynamic determinants and metrics of the strategic competitiveness of the firm. Therefore, the paper aims to identify, based on literature review, the multiple valences value has for the strategic management process (in all of its phases: analysis, formulation and implementation, in order to capture as much as possible of its multiple facets (as concerns value drivers, value creation and value distribution into a comprehensive framework – able to successfully manage and measure the contribution of value to the strategic competitiveness of the firm, while enhancing it.

Integrating Physical Actions and Financial Instruments to Manage Environmental Financial Risk

Science.gov (United States)

Foster, B.

2016-12-01

Exposure to extreme weather events can be reduced through physical actions (e.g., dams/reservoirs) or mitigated financially (e.g., insurance). Often physical actions involve investments in expensive infrastructure that reduce exposure, but whose benefits are only occasionally realized. Financial risk management does not reduce the impacts of an event, but rather redistributes them temporally, albeit at a cost. Nonetheless, these costs are typically much smaller, at least in the short run, than those incurred for physical actions. Financial strategies are also more flexible than physical ones in the face of an uncertain future. Financial contracts specifically designed to manage extreme environmental risks are becoming more common and can either replace or complement infrastructural investments as part of a risk management portfolio. In order to make optimal decisions as to the relative levels of physical and financial risk mitigation to employ, it is necessary to understand the relative merits of each strategy. This research develops a method for analyzing tradeoffs between physical and financial risk management strategies. We identify the unique cost and benefit properties of each strategy and integrate them into a single model that details the tradeoffs involved in various portfolios of physical and financial strategies. These methods are then applied to evaluate decisions to pursue emergency dredging during drought on the Mississippi River, which is used to mitigate the increased costs and/or reduced revenues barge operators face when water levels are low. Currently the U.S. Army Corps of Engineers funds most emergency dredging operations during major droughts and they are considering more intensive strategies for future droughts. Barge carriers and shippers though could manage at least some portion of their financial risks through a series of existing and experimental financial contracts. This work involves the formulation of these experimental contracts and

Applying Strategic Management in the Office of the Assistant Secretary of the Army for Financial Management and Comptroller (ASA(FM&C))

National Research Council Canada - National Science Library

Sturek, Frank

2000-01-01

The Assistant Secretary of the Army for Financial Management and Comptroller (ASA(FM&C)), the Honorable Mrs. Helen T. McCoy, started an organizational performance improvement initiative in September 1999...

The strategic function of quality in the management of innovation

NARCIS (Netherlands)

Bossink, B.A.G.

2002-01-01

Quality management can be used to support strategically the management of innovation. Tools in strategic quality management can be useful in: creating the organizational conditions in which innovations can be developed; supervising and initiating innovation processes; producing innovation content;

75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

Science.gov (United States)

2010-04-29

... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Annual Financial Statement of Surety Companies--Schedule F AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...

Strategic Management

CERN Document Server

Jeffs, Chris

2008-01-01

The Sage Course Companion on Strategic Management is an accessible introduction to the subject that avoids lengthy debate in order to focus on the core concepts. It will help the reader to develop their understanding of the key theories, whilst enabling them to bring diverse topics together in line with course requirements. The Sage Course Companion also provides advice on getting the most from your course work; help with analysing case studies and tips on how to prepare for examinations. Designed to compliment existing strategy textbooks, the Companion provides: -Quick and easy access to the

FINANCIAL MANAGEMENT OF THE COMPANY THROUGH THE CAPITALIZATION OF FINANCIAL-ACCOUNTING INFORMATION

Directory of Open Access Journals (Sweden)

Boby COSTI

2014-06-01

Full Text Available This article aims to highlight the role of financial-accounting information for the use in the financial management of the company, starting from the most recent writings in the field. Although it is hard to imagine that the financial management uses individualized financial- accounting information, attributed solely to a particular activity within the enterprise, still we tried to address the information according to the main activities that produce and use information, respectively: of investment, of exploitation and of financing. A proper management, at the company’s level, contributes to better products at lower prices, a higher salary and at the same time, to achieve higher incomes for those who contributed with capital in that company. Therefore, the financial management is a subsystem of the overall management of the company, aimed at ensuring the necessary financial resources, their profitable allocation and use, increasing the company’s value and of the safety of patrimony.

Balanced Scorecard and Hoshin Kanri: Managing Strategic Priorities

OpenAIRE

Witcher, Barry J.; Chau, Vinh Sum

2007-01-01

The scorecard and hoshin kanri are integrative cross-functional approaches used for managing strategic priorities across the functional hierarchy of the firm. They provide firms with an overall capability for sustaining strategic management over time. The scorecard’s strength lies in its ability to clarify long-term statements of corporate purpose. Hoshin kanri, on the other hand, is strong as a management system for the deployment and execution of purpose as short-term actions. In fact, the ...

From institutional merger integration to institutional strategic transformation: A case study of the strategic management paradigm at Shanghai Library

Institute of Scientific and Technical Information of China (English)

CHEN Chao

2010-01-01

This article attempts to apply the strategic management theory to the subsequent shaping up of a readjusted strategic development policy for Shanghai Library after its merger with the Institute of Scientific and Technological Information of Shanghai (ISTIS) in 1995.It also tries to analyze and explicate such an empirical implementation of institutional reintegration process through strategic management at Shanghai Metropolitan Library.By doing so,it aims to present an objective case study of activities based on the strategic management paradigm at a major Chinese metropolitan public library.

From institutional merger integration to institutional strategic transformation:A case study of the strategic management paradigm at Shanghai Library

Institute of Scientific and Technical Information of China (English)

CHEN; Chao

2010-01-01

This article attempts to apply the strategic management theory to the subsequent shaping up of a readjusted strategic development policy for Shanghai Library after its merger with the Institute of Scientific and Technological Information of Shanghai(ISTIS)in 1995.It also tries to analyze and explicate such an empirical implementation of institutional reintegration process through strategic management at Shanghai Metropolitan Library.By doing so,it aims to present an objective case study of activities based on the strategic management paradigm at a major Chinese metropolitan public library.

Impact Of Strategic Change Management On The Performance Of ...

African Journals Online (AJOL)

Impact Of Strategic Change Management On The Performance Of Public Transport In Osun State, Nigeria. ... Journal of Research in National Development ... the role of leadership style in strategic change management; identify in factors that are influencing change process and actual performance of an organization.

Measuring the impact of total quality management on financial performance of croatian companies

Directory of Open Access Journals (Sweden)

Dubravka Pekanov Starčević

2012-12-01

Full Text Available Changes in the business environment have resulted in increasing the importance of the quality of products and services of a company. Insisting on quality has become a strategic goal of a company and a determiner of competitiveness both in the home and international market. The traditional approach to quality included determination of product quality after production was completed. High costs of testing to determine the quality of products and services concludes that quality assurance must be approached differently. Product controls and tests used until that moment had to be replaced with a more modern, more efficient and more effective approach known as total quality management (TQM. TQM supporters suggest that TQM implementation results in improved product quality, reduced product return, reduced costs of serving unsatisfied customers and other benefits that ultimately lead to improved financial performance of the company. This paper examines the impact of TQM imple- mentation on the financial performance of Croatian companies whose securities are traded within the regulated market. General characteristics of companies were compared in terms of (nonsystematic application of total quality management. Furthermore, the financial performance of the companies that have successfully implemented the method was measured.

Growth and structure of authorship and co-authorship network in the strategic management realm: Evidence from the Strategic Management Journal

OpenAIRE

Mehmet Ali Koseoglu

2016-01-01

The main objective of this study is to investigate the intellectual structure and evolution of author collaborations from articles published in the Strategic Management Journal between 1980 and 2014. This assessment includes the general view of authorship, authorship patterns, author productivity, ranking of authors, visualization of the co-authorship network, comparison of strategic management co-authorship network attributes with those of other disciplines, the evolution of main components ...

FARSYS : a knowledge-based system for managing strategic change

NARCIS (Netherlands)

Volberda, H W; Rutges, A

In theories of strategic management, organizational flexibility is considered as a strategic asset in situations in which anticipation is impossible and strategic surprise likely. In these situations, the use of traditional planning strategies will be increasingly supplemented and sometimes replaced

76 FR 23859 - Financial Management Service Proposed Collection of Information; Financial Institution Agreement...

Science.gov (United States)

2011-04-28

... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service Proposed Collection of... Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial... collection. By this notice, the Financial Management Service solicits comments concerning the FMS 458 and FMS...

Logic of management of strategic problems of the enterprise

Directory of Open Access Journals (Sweden)

Ivahnenko Aleksandr Vladimirovich

2014-12-01

Full Text Available Problems of management by firm in the conditions of changes are considered, types of strategic problems, logic of constructions of system of strategic management are allocated. Principles of formation of strategy of firm and a strategy choice in conditions not full definiteness are defined.

7 CFR 3560.630 - Financial management.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial management. 3560.630 Section 3560.630... AGRICULTURE DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS On-Farm Labor Housing § 3560.630 Financial management. Financial information must be submitted in an Agency-approved format and will show operation of the housing...

Strategic stakeholder management by corporate social responsibility: Some conceptual thoughts

Directory of Open Access Journals (Sweden)

Markus Stiglbauer

2011-06-01

Full Text Available The sustainability and responsibility of corporate strategic management has become an important issue in recent years, not only against the background of the current financial and economic crisis. Companies are expected not only to succeed economically, but also ecologically and socially. Companies can use the issue of corporate responsibility to capture new markets and opportunities. But new requirements arise. Thus, stakeholders may exert pressure on companies to assume social responsibility, whereas executives shall lead by example. This paper tries to assess possiblities to meet stakeholder expectations towards companies by implementing corporate social responsibility concepts. We identify primary and secondary stakeholders of companies by using salience theory and try to give conceptual answers how the well-known concept of Caroll‟s corporate social responsibility pyramid my help to improve the current situation and to take top management and supervisory boards into account to establish a change of focus on corporate social responsibility not just as a hot topic.

STAGES OF A STRATEGIC MANAGEMENT MODEL

Directory of Open Access Journals (Sweden)

Mihaela – Lavinia CIOBANICA

2014-06-01

Full Text Available In the literature dedicated to strategic management there is no unitary vision of the authors regarding the sequence of actions that give content to the respective process and what their stages are. With all existing differences, the visions of different authors nevertheless observe the unitary logic of developing a series of actions. These actions begin with the competitive environment analysis in which the organization operates and with the establishment of its strategic mission and they end with the performance evaluation after the strategy has been applied and, if appropriate, with the reconsidering of this strategy and the making of the necessary corrections to it. Such a basic structure of the process is adopted in most organizations that practice the strategic management. But noticeable differences appear in the degree of the formalization of the process and in the involvement of different managerial levels in the designing and detailing of its components.

PROBLEMS OF INFORMATION AND ANALYTICAL SUPPORT OF CONTEMPORARY STRATEGIC MANAGEMENT

Directory of Open Access Journals (Sweden)

M. A. Rodionov

2014-01-01

Full Text Available The problematic aspects have been considered with regard to the information and analytical support of a strategic decision making in the modern management. The role and place are clarified in relation to a process of elaboration and making a management decision in strategic planning. The existing approaches are analyzed regarding the estimating of regularities in the course and outcome of strategic processes. The strategic forecasting matters have been studied as well as a decision maker`s attitude to the risks.

Project-based organizing and strategic management

DEFF Research Database (Denmark)

very different industries such as management consulting, engineering or entertainment. Contributors analyze PBOs as firms, units or networks of firms set up to complete a specific assignment, as well as address the evolution from traditional operations-driven project management, to the strategic role...

Required Steps of Managing International Equity Placement Strategic Alliance

Directory of Open Access Journals (Sweden)

Harimukti Wandebori

2011-12-01

Full Text Available The purpose of the research is to unravel the steps of managing international equity placement strategic alliance (IEPSA. The steps of managing an IEPSA are obtained by conducting theoretical review. The theoretical reviews consist of theory of strategic alliance; definition, classification, and finding definition of an IEPSA, political and analytical considerations and the necessary steps. These steps of managing IEPSA can be classified into analyzing of macro consideration, micro consideration, domestic company’s stakeholder support, cultural understanding, strategic planning, internal support, human resource management, organizational arrangement, management control system, evolved cultural understanding, and evaluating results. In this research, the domestic partners who formed the IEPSAs are limited to State-Owned Enterprises (SOEs. The IEPSA was one of the means of privatization. The research will be beneficial for both foreign and domestic partners who form an IEPSA in the previous SOEs. By knowing the steps of managing the IEPSA both partners will be able to secure a successful implementation of IEPSA. By identifying the steps of managing the IEPSA, the stakeholder will not see IEPSA as threat rather as an opportunity to improve performance, to create synergy, and generate benefits for both partners and stakeholder. By knowing the necessary steps of managing the IEPSA, the stakeholder including society and politician will envisage the IEPSA as a means of effectively improving the SOEs’ performances.The research was espected to provide contributions for the research on strategic alliances. Apparently, there exist no literatures discussing about IEPSA in the domain of strategic alliances.

Fundamentals of financial statement analysis for academic physician managers.

Science.gov (United States)

Danzi, J T; Boom, M L

1998-04-01

Academic medical centers (i.e., teaching hospitals) and academic medical practices are under pressure to control costs to compete with for-profit health care institutions. The authors explain how academic physician managers who want to control costs wisely must first understand the cost structure of the medical center or practice and compare that structure with those of for-profit institutions. Doing this requires a firm understanding of how to use a valuable tool, financial statement analysis, to assess an institution's health and performance. Such analysis consists of calculating a variety of financial ratios (e.g., operating income divided by revenues; net income divided by total assets) and then comparing them with the corresponding ratios that are considered industry norms. Three types of financial statements (defined in detail) lend themselves to this approach: the balance sheet, income statement, and statement of cash flows. The authors define standard financial ratios, point out their uses and limitations, and emphasize that a ratio's meaning derives from comparing it with the corresponding benchmark ratio in the industry as a whole. Ratios should be used not as the end point of assessing financial status, but as ways to identify possible problems that require further investigation. Analysis of trends of ratios over time within an institution is a complementary approach. The authors then discuss the use of ratios in three standard types of institutional evaluation: of performance, of liquidity and leverage, and of strategic planning. In addition, they present the financial statement of a fictitious academic medical center as an example of how to use ratios for financial statement analysis. The authors emphasize that the key to using the ratios they discuss and hundreds of others is first to decide what question needs answering and then to choose the relevant ratios to provide a basis for finding the answer.

12 CFR 563.161 - Management and financial policies.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Management and financial policies. 563.161... ASSOCIATIONS-OPERATIONS Financial Management Policies § 563.161 Management and financial policies. (a)(1) For... corporation must be well managed and operate safely and soundly. Each also must pursue financial policies that...

7 CFR 246.13 - Financial management system.

Science.gov (United States)

2010-01-01

... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management system. 246.13 Section 246.13... State Agency Provisions § 246.13 Financial management system. (a) Disclosure of expenditures. The State agency shall maintain a financial management system which provides accurate, current and complete...

14 CFR 152.303 - Financial management system.

Science.gov (United States)

2010-01-01

... 14 Aeronautics and Space 3 2010-01-01 2010-01-01 false Financial management system. 152.303... (CONTINUED) AIRPORTS AIRPORT AID PROGRAM Accounting and Reporting Requirements § 152.303 Financial management system. Each sponsor or planning agency shall establish and maintain a financial management system that...

42 CFR 441.484 - Financial management services.

Science.gov (United States)

2010-10-01

... 42 Public Health 4 2010-10-01 2010-10-01 false Financial management services. 441.484 Section 441... Optional Self-Directed Personal Assistance Services Program § 441.484 Financial management services. (a) States may choose to provide financial management services to participants, or their representatives, as...

Strategic management and utilization of patents

International Nuclear Information System (INIS)

Kim, Gyeong Go; Yun, Gwon Jun

1993-11-01

This book deals with why does management of patents need?, system of management of patents with function and site of management of patents and system and composition, what does management of patents department do?, task like technical development, management regulation, patent information, management of patents in small business with technical development of small business, how does business manage the patents in real, introduction of management of patents in the U.S, Europe, Japan, and Korea, and management of patents as strategic management.

Consolidating strategic planning and operational frameworks for integrated vector management in Eritrea.

Science.gov (United States)

Chanda, Emmanuel; Ameneshewa, Birkinesh; Mihreteab, Selam; Berhane, Araia; Zehaie, Assefash; Ghebrat, Yohannes; Usman, Abdulmumini

2015-12-02

monitoring techniques; initiating the global plan for insecticide resistance management; conducting needs' assessments and developing standard operating procedure for insectaries; developing a guidance document on malaria vector control based on eco-epidemiological strata, a vector surveillance plan and harmonized mapping, data collection and reporting tools. Eritrea has successfully consolidated strategic frameworks for vector control. Rational decision-making remains critical to ensure that the interventions are effective and their choice is evidence-based, and to optimize the use of resources for vector control. Implementation of effective IVM requires proper collaboration and coordination, consistent technical and financial capacity and support to offer greater benefits.

The Role of Information in the Strategic Management Process.

Science.gov (United States)

Hayward, Tim; Broady, Judith E.

1995-01-01

Presents research on the use of external information in the strategic management of retail banks in the United Kingdom. Explores the organizational role of the environmental analysis department, the character of business environment analysis, and the nature of information used in strategic management and its perceived importance. (Author/AEF)

More than a headcount: towards strategic stakeholder representation in catchment management in South Africa and Zimbabwe

Science.gov (United States)

Manzungu, Emmanuel

In 1998 both South Africa and Zimbabwe promulgated new water laws to ensure that ownership and user-ship patterns of water resources match the new socio-political order. Integrated water resource management, incorporating among other things decentralized and democratized water management institutions and the principles of stakeholder participation, was regarded as the cornerstone of the reforms. This article examines how stakeholder representation, particularly of the formerly disadvantaged people, has been handled. It is observed that there has been too much effort dedicated to ensure a mere headcount of the stakeholders at the water table rather than on strategic representation. Strategic representation emphasizes stakeholder identity instead of consensus. Selective alliance building is important as is establishing genuine local level platforms with enough political space outside the state-tailored formal straight jackets. It is equally important to address developmental aspects of establishing catchment-wide bodies and structural problems such as access to land and financial resources. Without addressing these issues stakeholder representation will remain hamstrung in good intentions.

How Symmetrical Assumptions Advance Strategic Management Research

DEFF Research Database (Denmark)

Foss, Nicolai Juul; Hallberg, Hallberg

2014-01-01

We develop the case for symmetrical assumptions in strategic management theory. Assumptional symmetry obtains when assumptions made about certain actors and their interactions in one of the application domains of a theory are also made about this set of actors and their interactions in other...... application domains of the theory. We argue that assumptional symmetry leads to theoretical advancement by promoting the development of theory with greater falsifiability and stronger ontological grounding. Thus, strategic management theory may be advanced by systematically searching for asymmetrical...

STAGES : a system for generating strategic alternatives for forest management

NARCIS (Netherlands)

Bos, J.

1994-01-01

Strategic planning is important in forest management. However, it has never been described clearly in literature. In this study a framework for strategic planning was developed and based on this a STrategic Alternatives Generating System (STAGES) to support decision making in strategic

Lessons learned: Infrastructure development and financial management for large, publicly funded, international trials.

Science.gov (United States)

Larson, Gregg S; Carey, Cate; Grarup, Jesper; Hudson, Fleur; Sachi, Karen; Vjecha, Michael J; Gordin, Fred

2016-04-01

Randomized clinical trials are widely recognized as essential to address worldwide clinical and public health research questions. However, their size and duration can overwhelm available public and private resources. To remain competitive in international research settings, advocates and practitioners of clinical trials must implement practices that reduce their cost. We identify approaches and practices for large, publicly funded, international trials that reduce cost without compromising data integrity and recommend an approach to cost reporting that permits comparison of clinical trials. We describe the organizational and financial characteristics of The International Network for Strategic Initiatives in Global HIV Trials, an infectious disease research network that conducts multiple, large, long-term, international trials, and examine challenges associated with simple and streamlined governance and an infrastructure and financial management model that is based on performance, transparency, and accountability. It is possible to reduce costs of participants' follow-up and not compromise clinical trial quality or integrity. The International Network for Strategic Initiatives in Global HIV Trials network has successfully completed three large HIV trials using cost-efficient practices that have not adversely affected investigator enthusiasm, accrual rates, loss-to-follow-up, adherence to the protocol, and completion of data collection. This experience is relevant to the conduct of large, publicly funded trials in other disease areas, particularly trials dependent on international collaborations. New approaches, or creative adaption of traditional clinical trial infrastructure and financial management tools, can render large, international clinical trials more cost-efficient by emphasizing structural simplicity, minimal up-front costs, payments for performance, and uniform algorithms and fees-for-service, irrespective of location. However, challenges remain. They

48 CFR 970.3270 - Standard financial management clauses.

Science.gov (United States)

2010-10-01

... Standard financial management clauses. (a) The following DEAR and FAR clauses are standard financial... Accounting Standards. (b) The following DEAR clauses are standard financial management clauses. The... systems: (1) 970.5232-7, Financial management system. (2) 970.5232-8, Integrated accounting. (c) Any...

38 CFR 61.66 - Financial management.

Science.gov (United States)

2010-07-01

... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Financial management. 61...) VA HOMELESS PROVIDERS GRANT AND PER DIEM PROGRAM § 61.66 Financial management. (a) All recipients... management system that follows generally accepted accounting principals and provides accounting records...

Strategic Brand Management in Hospitality Sector: How to Manage Co-branding in Hotels and Restaurants

Directory of Open Access Journals (Sweden)

Ruhet Genc

2010-10-01

Full Text Available Companies in the hospitality sector (hotels, restaurants etc. aim to distinguish their brandimage and differentiate their product or service among the competitors by adopting particular brandstrategies since identifying a target customer base and understanding their needs and preferences areof primary significance for hospitality firms. The achievement of a distinguished designationnecessitates utilizing research based and strategic branding techniques and suggestions. One majorbranding strategy particularly for international firms is co-branding. Nevertheless, there are scarcestudies which examine the role of strategic co-brand management in the hospitality sector. Thisreview paper aims to critically discuss the current position of strategic co-branding in the hospitalitysector and possible problems involved in this issue. Recommendations for future research on cobrandingof hospitality firms within the strategic management paradigm are provided. Furthermore,managers in the hospitality sector are given suggestions for enhancing strategic management of cobrandingin hospitality and particularly in destination firms.

76 FR 38672 - Order of Succession for the Office of Strategic Planning and Management

Science.gov (United States)

2011-07-01

... Office of Strategic Planning and Management AGENCY: Office of Strategic Planning and Management, HUD... Planning and Management, designates the Order of Succession for the Office of Strategic Planning and..., 2011. FOR FURTHER INFORMATION CONTACT: Nina M. Coward, Office of Strategic Planning and Management...

A Prelude to Strategic Management of an Online Enterprise

Science.gov (United States)

Pan, Cheng-Chang; Sivo, Stephen A.; Goldsmith, Clair

2016-01-01

Strategic management is expected to allow an organization to maximize given constraints and optimize limited resources in an effort to create a competitive advantage that leads to better results. For both for-profit and non-profit organizations, such strategic thinking helps the management make informed decisions and sustain long-term planning. To…

STAGES OF A STRATEGIC MANAGEMENT MODEL

OpenAIRE

Mihaela – Lavinia CIOBANICA

2014-01-01

In the literature dedicated to strategic management there is no unitary vision of the authors regarding the sequence of actions that give content to the respective process and what their stages are. With all existing differences, the visions of different authors nevertheless observe the unitary logic of developing a series of actions. These actions begin with the competitive environment analysis in which the organization operates and with the establishment of its strategic mission and th...

Required Steps of Managing International Equity Placement Strategic Alliance

OpenAIRE

Wandebori, Harimukti; de Bruijn, Erik Joost; Steenhuis, Harm-Jan

2011-01-01

The purpose of the research is to unravel the steps of managing international equity placement strategic alliance (IEPSA). The steps of managing an IEPSA are obtained by conducting theoretical review. The theoretical reviews consist of theory of strategic alliance; definition, classification, and finding definition of an IEPSA, political and analytical considerations and the necessary steps. These steps of managing IEPSA can be classified into analyzing of macro consideration, micro considera...

Strategic planning in Brazilian protected areas: Uses and adjustments.

Science.gov (United States)

Barreto, Cristiane Gomes; Drummond, José Augusto L

2017-09-15

Management plans for protected areas commonly use strategic planning tools in their drafting. It is proposed that the adequate use of the instruments of planning and management of protected areas can improve their strategic competitiveness, providing greater financial and administrative independence, enabling them to be economically sustainable organizations. This study evaluated the application of concepts and strategy formulation, strategy principles and competitiveness, organizational diagnosis, strategic maps, scenarios, and other strategic planning instruments used for conservation management in Brazil. 25 management plans of 25 different protected areas were selected and studied, with special attention to the indicators used in each plan. Results indicate that there is a high suitability for the application of SP tools to the universe of protected areas, although management plans did not take full advantage of these tools. We also found that the broader use of these tools did not guarantee greater managerial effectiveness. We suggest that other governance variables beyond planning strategies must be improved, to ensure a better performance of protected areas. Copyright © 2017 Elsevier Ltd. All rights reserved.

29 CFR 1960.7 - Financial management.

Science.gov (United States)

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Financial management. 1960.7 Section 1960.7 Labor... MATTERS Administration § 1960.7 Financial management. (a) The head of each agency shall ensure that the... Official, management officials in charge of each establishment, safety and health officials at all...

Role of marketing metrics in strategic brand management

Directory of Open Access Journals (Sweden)

Mamula Tatjana

2012-01-01

Full Text Available This paper shows the role and importance of a brand as a strategic instrument of a company, that ensures sustainability of company's performance in the market on a longer-term basis. To achieve brand competitiveness, it is necessary to manage its equity, which is presented in this paper as an imperative of everyday business operations. Brand evaluation in strategic management is conducted by measuring brand performance in the market, finding measures and ways to manage the brand successfully in order to increase its equity using the set of marketing metric indicators.

Methods of Financial Risk Management

Directory of Open Access Journals (Sweden)

Korzh Natalia

2016-10-01

Full Text Available The essence and nature of financial risks are investigated. Their classification is conducted. The features of financial risk management and the main methods of management are considered. The ways of risk compensation are identified. It is proved that the objective external risk basis is such market imperfections as externalities of enterprises and incomplete information about the operation of the business environment and internal objective basis risk – the objective function to maximise profits in a competitive environment. It is revealed that to compensate market imperfections business entities should develop a strategy that combines fill in missing information and neutralise or minimise externalities that tactically implemented in financial risk management programs.

The Strategic-Renovation Banks’ Risks Management

Directory of Open Access Journals (Sweden)

Yeremeychuk Raisa A.

2017-04-01

Full Text Available The article is aimed at developing approaches to implementation of the strategic-renovation risk management. Essence of risk theories was researched, the concept of «risk» in the bank’s management system were analyzed. On the basis of a theoretical generalization of scientific literature and the carried out analysis of existing risk management strategies to ensure the security of banking business, the strategy of renovation management has been selected. Because bank risks are part of the economic risk system, they are complex in their nature. However, given the importance of bank risks, the interpretation of their essence is still a debating matter. In a certain number of cases, their essence is replaced by the cause of occurrence, that is, all the different circumstances, factors that lead to the losses. So today, banks are considering risks, in particular, not only as a source of possible losses, but also as an opportunity to generate additional profits. An algorithm for taking a strategic-renovation decision on the banks’ risks management system has been proposed.

Strategic Management of Multinational Companies: Case of Hilton

OpenAIRE

Ahsan, Lubna; Qazi, Burhan; Syed, Shahabuddin

2014-01-01

The concept of strategic management is extremely broad and there are numerous concepts that specifically stride under this particular aspect. The effectiveness of this particular field lies with the concept that how effectively it is utilized and implements the methods and models of strategic management, therefore organizations should be ready to confirm their growth and compete with other organizations operating in the same line of business. Hilton Worldwide is the company which has been sel...

A SURVEY OF INTERNATIONAL FINANCIAL RISK MANAGEMENT SYSTEM

Directory of Open Access Journals (Sweden)

SETHI Narayan

2013-12-01

Full Text Available Rising global competition, increasing deregulation, and introduction of innovative products have pushed financial risk management to the forefront of today's financial landscape. Identification of different types of risks and effective management of these risks in the international financial system would help to alleviate crisis, financial losses and also helpful to the long term success of all the financial institutions. The present study aims to analyze different types of risk management strategies and throws some light on challenges and opportunities regarding implementation of Basel-II in international financial system. The present paper also attempts to discuss the different methods and techniques used to measure financial risk management. There are three types of risk faced by all financial institutions: market risk, credit risk and operational risk. In commercial banking, credit risk is the biggest risk; in investment banking, its market risk; and in asset management, it’s operational risk.

FINANCIAL MANAGEMENT OF THE COMPANY THROUGH THE CAPITALIZATION OF FINANCIAL-ACCOUNTING INFORMATION

OpenAIRE

Boby COSTI; Marius BOIŢĂ; Cosmina REMEŞ

2014-01-01

This article aims to highlight the role of financial-accounting information for the use in the financial management of the company, starting from the most recent writings in the field. Although it is hard to imagine that the financial management uses individualized financial- accounting information, attributed solely to a particular activity within the enterprise, still we tried to address the information according to the main activities that produce and use information, respectively: of inve...

Financial risk management of pharmacy benefits.

Science.gov (United States)

Saikami, D

1997-10-01

Financial risk management of pharmacy benefits in integrated health systems is explained. A managed care organization should assume financial risk for pharmacy benefits only if it can manage the risk. Horizontally integrated organizations often do not have much control over the management of drug utilization and costs. Vertically integrated organizations have the greatest ability to manage pharmacy financial risk; virtual integration may also be compatible. Contracts can be established in which the provider is incentivized or placed at partial or full risk. The main concerns that health plans have with respect to pharmacy capitation are formulary management and the question of who should receive rebates from manufacturers. The components needed to managed pharmacy financial risk depend on the type of contract negotiated. Health-system pharmacists are uniquely positioned to take advantage of opportunities opening up through pharmacy risk contracting. Functions most organizations must provide when assuming pharmacy financial risk can be divided into internal and external categories. Internally performed functions include formulary management, clinical pharmacy services and utilization management, and utilization reports for physicians. Functions that can be outsourced include claims processing and administration, provider- and customer support services, and rebates. Organizations that integrate the pharmacy benefit across the health care continuum will be more effective in controlling costs and improving outcomes than organizations that handle this benefit as separate from others. Patient care should not focus on payment mechanisms and unit costs but on developing superior processes and systems that improve health care.

48 CFR 970.5232-7 - Financial management system.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Financial management... for Management and Operating Contracts 970.5232-7 Financial management system. As prescribed in 970.3270(b)(1), insert the following clause: Financial Management System (DEC 2000) The Contractor shall...

Strategic Management Accounting and Feed-forward Management: with Reference to the Unified Management of Profit Opportunity and Risk

OpenAIRE

西村, 明

2015-01-01

This paper aims toreexamine strategic management accouning in relation to profit opportunity and risk from the viewpoint of feed-forward management , as few studies to date have discuued the relations between management accounting and the unified management of profit opportunity and risk.Many studies have been conducted that emphasize non-fine information and feedback organizational management in an attept to make traditional management accounting relevant to practical strategic needs. As lon...

Office of the Chief Financial Officer Strategic Plan2008-2012

Energy Technology Data Exchange (ETDEWEB)

Various

2007-11-19

This is an update to the Office of the Chief Financial Officer's (OCFO's) multi-year strategy to continue to build a highly effective, efficient and compliant financial and business approach to support the scientific mission of Lawrence Berkeley National Laboratory (LBNL). The guiding principles of this strategy are to provide the greatest capability for the least cost while continually raising the standards of professional financial management in service to the LBNL science mission.

Strategic Issues in University Management

NARCIS (Netherlands)

Roosendaal, Hans E.

2005-01-01

In this paper we will discuss developments in the field of scientific information with the aim to determine and analyse some of the pertinent strategic issues related to higher education (HE) as seen from the stakeholder perspective of the university and its management.

Some Considerations regarding Strategy and Strategic Management in Romanian Insurance Sector

OpenAIRE

Cristina PROTOPOPESCU; Anca-Mihaela TEAU; Sorin Gabriel GRESOI

2012-01-01

Over the last decade, the external environment of insurance sector had significantly changed, becoming very instable and complex. In these circumstances, we believe that the proper managerial approach, not only for anticipating the future problems, opportunities and threats but also to improve profitability, is the strategic management. In this paper we present the concept of strategy and the differences between strategy and strategic management. We also present a strategic management model f...

How to act strategically in a turbulent e-business environment - an eclectic approach to strategic inter-organisational systems (IOS) management

OpenAIRE

Wassenaar, Arjen

2002-01-01

This paper presents an eclectic inter-organisational -oriented approach to so called strategic IOS management as an alternative to the more single organisation-oriented, linear approach of strategic information system planning (SISP). This approach is termed eclectic because it is based on a toolbox of mini-theories integrating existing strategic (IS) planning a n d management theories. The core component of this approach is an IOS scenario and strategic option generator"...

Strategic human resource management and corporate social responsibility: Evidence from Emerging Markets

Directory of Open Access Journals (Sweden)

Talita Rosolen

2016-09-01

Full Text Available Corporate social responsibility practices are increasingly being adopted and legitimized in business and they impact the strategic and operational levels in various areas. The integration of these criteria and practices in the strategic management involves many factors, and human resource management is an essential aspect for the accomplishment of such initiative. Thus, this paper associates the relationship among corporate social responsibility (CSR various dimensions (strategic, ethical, social and environmental and strategic human resource management (SHRM in companies operating in Brazil. We also aim to identify whether there is impact of other aspects on this relationship, namely: size, industry and company internationalization level (if national or multinational. Results show evidence that ethical CSR can be associated to SHRM. Environmental CSR showed marginal relation, and social and strategic CSR presented no significant association. Those results emphasize the need to further develop strategic actions of CSR into human resource management in emerging markets. Managers can also benefit from those findings, as it is possible to have a broad view of limitations and opportunities regarding the role played by human resource management in CSR.

Strategic plan modelling by hospital senior administration to integrate diversity management.

Science.gov (United States)

Newhouse, John J

2010-11-01

Limited research suggests that some hospital senior administrators and chief executive officers (CEOs) have employed a strategic planning function to achieve diversity management practices. As the hospital industry struggles with how to integrate diversity practices to improve patient satisfaction, increase the quality of care and enhance clinical outcomes for minority populations, understanding the planning process involved in this endeavour becomes significant for senior hospital administrators. What is not well understood is what this strategic planning process represents and how it is applied to integrate diversity management. Scant research exists about the type of strategic models that hospital CEOs employ when they wish to reposition their organizations through diversity management. This study examines the strategic planning models used by senior administrators to integrate diversity management for an institutional-wide agenda. A qualitative survey process was used for CEOs in the states of New York, Pennsylvania, New Jersey and Delaware. The key research questions dealt with what type of strategic plan approach senior administrators used for integrating diversity management and what rationale they used to pursue this. Significant differences were reported between three types of strategic plan modelling used by CEOs. Also, when comparing past and current practices over time, such differences existed. The need to integrate diversity management is underscored by this study. How senior hospital administrators apply strategic plan models and what impact these approaches have represent the major implications that this study offers.

THE INTERFACE BETWEEN FINANCIAL AND MANAGEMENT ACCOUNTING

Directory of Open Access Journals (Sweden)

Elena HLACIUC

2017-12-01

Full Text Available The purpose of this article is to offer useful information about the about the two branches of accounting, management accounting and financial accounting. The role of management accounting is to make the life easier for managers and to facilitate decisions that have to take on the production process or the smooth running of the business. The managers are in a continues need of various information, from the evolution of economics processes of the companies they are leading, up to the external environment. They required data information by different techniques, statistics, graphs, mathematical calculations, to substantiate the decision to take by data value, and not just rely on technical or quantitative. Financial accounting do not offer detailed information about the evolution or informational needs of managers, this is designed external users, like: state institutions, the competition, banks, suppliers, customers who do not require daily information about the entity. Instead, the manager request the detailed information, at irregular intervals, about the production process, the labor productivity, activity reports, internal entity, which often is not available to external users of accounting information. The financial accounting is based on several conventions, laws, standards, helping financial data are comparable over time or between similar entities. The financial accounting offers information about the performance and financial position of the entity and making it intelligible at the same time by all the users. In the case of management accounting, the information do not have an standard presentation, the reports offers information about money, the moment when those have to be paid and the moment when they come back, as receipts. The management accounting it provides futures information and what will happen, in contrast to financial accounting, who provides information about the past and what just happened. Management information uses tools

Strategic Management Model with Lens of Knowledge Management and Competitive Intelligence: A Review Approach

OpenAIRE

Shujahat, Muhammad; Hussain, Saddam; Javed, Sammar; Muhammad, Imran Malik; Thursamy, Ramayah; Ali, Junaid

2017-01-01

Purpose:\\ud First purpose of this study is to discuss the synergic and separate use of knowledge and\\ud intelligence, via knowledge management and competitive intelligence, in each stage of strategic\\ud management process. Second purpose is to discuss the implications of each stage of strategic\\ud management process for knowledge management and competitive intelligence and vice versa.\\ud Methodology/Design/Approach:\\ud A systematic literature review was performed within timeframe of 2000 to 2...

THE IMPORTANCE OF THE SCENARIOS METHODOLOGY FOR FINANCIAL INSTITUTIONS DURING TIMES OF CRISIS

Directory of Open Access Journals (Sweden)

Paulo Roberto Correa Leão

2010-11-01

Full Text Available Recently, the need to apply strategic planning methodologies in business has risen, since corporations are part of a globalized world in which technological change and economic dynamism are evolving at a faster pace. Thus, firms must perform not only efficiently but also effectively in adapting to changes as they occur in the political, economic, technological, legal and environmental dimensions. This dictates the need for new strategic organizational positioning. The potential usefulness of the scenarios methodology was investigated for a sample of financial institutions with assets in the Brazilian market, based on management reports and in accordance with strategic dimensions needed to cope with crises. Therefore, we propose a new methodology for the qualitative analysis of official management reports, which indicates a perception of scenario building within organizations. The results suggest a positive relationship between the quality of the process of generating scenarios and the financial results of the banking institution. Key-words: Scenarios. Financial institutions. Crisis. 

Business modelling of strategic management by the enterprise intellectual capital

OpenAIRE

Zhuravleva, I.

2009-01-01

The article is devoted to the resource and process approach to formation of the strategic management concept by the enterprise intellectual capital. The business model of strategic management by the intellectual capital in the environment of system business-modelling Business Studio 3 is developed.

Effects of collaborative supply chain solutions on strategic performance management

NARCIS (Netherlands)

Rachan, Wilfred

2012-01-01

Throughout this research the focus has been on unraveling of the factors and relations that link different aspects of collaborative workflow to strategic performance management. However, the same issues that applied to strategic performance management of supply chains also apply to other areas of

34 CFR 74.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 34 Education 1 2010-07-01 2010-07-01 false Standards for financial management systems. 74.21... Requirements Financial and Program Management § 74.21 Standards for financial management systems. (a... practical. (b) Recipients' financial management systems shall provide for the following: (1) Accurate...

32 CFR 34.11 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 32 National Defense 1 2010-07-01 2010-07-01 false Standards for financial management systems. 34... ORGANIZATIONS Post-award Requirements Financial and Program Management § 34.11 Standards for financial management systems. (a) Recipients shall be allowed and encouraged to use existing financial management...

22 CFR 145.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Standards for financial management systems. 145... Financial and Program Management § 145.21 Standards for financial management systems. (a) The Department... whenever practical. (b) Recipients' financial management systems shall provide for the following. (1...

7 CFR 3019.21 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Standards for financial management systems. 3019.21... Requirements Financial and Program Management § 3019.21 Standards for financial management systems. (a) Federal... cost information whenever practical. (b) Recipients' financial management systems shall provide for the...

2 CFR 215.21 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Standards for financial management systems... Financial and Program Management § 215.21 Standards for financial management systems. (a) Federal awarding... information whenever practical. (b) Recipients' financial management systems shall provide for the following...

THEORETICAL SUBSTANTIATION OF FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

N. V. Myroshnyk

2009-03-01

Full Text Available The concept «finance» is defined. It is investigated that in conditions of the market economy for effective management of financial resources the provision of enterprise activities with optimal amount of the financial resources, their rational use, the profit maximization, and the provision of market cost of enterprise are necessary. In conditions of the market economy the issues of improvement of management of production processes, efficient use of financial, labor and material resources become urgent. To solve such problems, the enterprise administrations should be aware of the knowledge of economics, production technologies, and finance.

29 CFR 95.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 29 Labor 1 2010-07-01 2010-07-01 true Standards for financial management systems. 95.21 Section 95... Requirements Financial and Program Management § 95.21 Standards for financial management systems. (a... practical. (b) Recipients' financial management systems shall provide for the following: (1) Accurate...

45 CFR 74.21 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 1 2010-10-01 2010-10-01 false Standards for financial management systems. 74.21... Management § 74.21 Standards for financial management systems. (a) Recipients shall relate financial data to... cost information is usually not appropriate. (b) Recipients' financial management systems shall provide...

Role of strategic planning in engineering management

Science.gov (United States)

Krishen, Kumar

1993-01-01

Today, more than ever before, engineers are faced with uncertain and sometimes chaotic environments in which to function. The traditional roles of an engineer to design, develop, and streamline a manufacturing process for a product are still valued and relevant. However, the need for an engineer to participate in the process of identifying the product to be developed, the schedule and resources required, and the goal of satisfying the customer, has become paramount to achieving the success of the enterprise. When we include these endeavors in the functions of an engineer, management of 'engineering' takes on a new dimension. In this paper, the ramifications of the changing and increased functions of an engineer and consequent impacts on engineering management are explored. The basic principles which should be invoked in order to embrace the new environment for engineering management are outlined. The ultimate finding of this study is that the enterprise strategic plan should be developed in such a way as to allow engineering management to encompass the full spectrum of the responsibilities of engineers. A consequence of this is that the fundamental elements of the strategic process can best be implemented through a project team or group approach. The paper thus concentrates on three areas: evolving environment, strategic plan, and ways to achieve enterprise success.

Integrated Financial Management Program

Science.gov (United States)

Pho, Susan

2004-01-01

Having worked in the Employees and Commercial Payments Branch of the Financial Management Division for the past 3 summers, I have seen the many changes that have occurred within the NASA organization. As I return each summer, I find that new programs and systems have been adapted to better serve the needs of the Center and of the Agency. The NASA Agency has transformed itself the past couple years with the implementation of the Integrated Financial Management Program (IFMP). IFMP is designed to allow the Agency to improve its management of its Financial, Physical, and Human Resources through the use of multiple enterprise module applications. With my mentor, Joseph Kan, being the branch chief of the Employees and Commercial Payments Branch, I have been exposed to several modules, such as Travel Manager, WebTads, and Core Financial/SAP, which were implemented in the last couple of years under the IFMP. The implementation of these agency-wide systems has sometimes proven to be troublesome. Prior to IFMP, each NASA Center utilizes their own systems for Payroll, Travel, Accounts Payable, etc. But with the implementation of the Integrated Financial Management Program, all the "legacy" systems had to be eliminated. As a result, a great deal of enhancement and preparation work is necessary to ease the transformation from the old systems to the new. All this work occurs simultaneously; for example, e-Payroll will "go live" in several months, but a system like Travel Manager will need to have information upgraded within the system to meet the requirements set by Headquarters. My assignments this summer have given me the opportunity to become involved with such work. So far, I have been given the opportunity to participate in projects resulting from a congressional request, several bankcard reconciliations, updating routing lists for Travel Manager, updating the majordomo list for Travel Manager approvers and point of contacts, and a NASA Headquarters project involving

Outlining the benefits of Strategic Networking

Directory of Open Access Journals (Sweden)

Eva Maria Eckenhofer

2011-10-01

Full Text Available Social Networks have attracted enormous interest in the scientific community in recent years. The characteristics, components and impacts of social networks have been studied through different kinds of aspects, such as sociological, geographical, ethnological, political and economical. In economics social network studies have been performed on intra- and inter-organizational levels, though rarely simultaneously. Furthermore the strategic aspects of fostering and controlling informal organizational networks as well as the outcomes of these managerial attempts on the network characteristics and the performance of the organization have not been sufficiently studied yet. However, the need to develop, foster and manage networks efficiently is given for preventing negative effects and provoking positive ones. Therefore this study contributes to scientific theory and practical business development by exploring the influence of Strategic Networking in inter- as well as intra-organizational business-fields. For study the author develops and defines Strategic Networking as the strategic and target-oriented analysis, development, fostering and control of (inter- as well as intra-organizational networks on the basis of trust, with the intention to reach certain (organizational goals and tests its applicability and effects in an extensive survey on three levels: intra-, inter-organizational and regional networks (cluster. The survey showed that Strategic Networking goes in line with favourable network characteristics as well as the success of a firm in terms of financial and non-financial performance measures.

[Strategic management of hospitals in France: balance and perspectives].

Science.gov (United States)

Crémadez, Michel

2010-08-01

The strategic management was introduced in French hospitals in the late 80s, in a context of inefficiency and the need to control healthcare expenditure. This concept has inspired a series of government reforms, the organization and dynamics of hospitals and the mode of regulating the French health system, assuming a real change of professional culture. The changes in the economic context and in the finance of hospitals, the behavior of users, the population aging, the development of chronic diseases and increased competition, are the new challenges to be faced. The involvement of stakeholders is crucial and the strategic management, based on mobilizing these actors, is today, a method of administration particularly well adapted to the health area. This article aims to present the impact of the concept of strategic management in the evolution of French hospitals and the consequences of these developments on the outlook for the dissemination of strategic management in the health sector. To do so, it is examined the evolution of the French context until 2010, the new challenges that French hospitals must face and, finally, the consequences of these challenges on how to design services, manage the relationships between the actors of the health system and organize the operational functioning of hospitals.

Strategic Management and Evaluation: Rivals, Partners, or Just Fellow Travelers?

Science.gov (United States)

Klay, William Earle

1991-01-01

Evaluation and strategic management are related in that each attempts to improve the quality of policy decisions and each has evolved from a product-centered focus to one in which implementation and utilization are vital. Evaluators should understand strategic management theory to evaluate its applications appropriately. (SLD)

Under Secretary of Defense (Comptroller) > Financial Management > Reports

Science.gov (United States)

functionalStatements OUSD(C) History FMR Budget Materials Budget Execution Financial Management Improving Financial Performance Reports Regulations banner Financial Management Reports IN THIS SECTION ... Improving Financial , accounting for, disbursing and reporting retirement payments for those chosen for early retirement under the

“Change is constant in today’s business for competitive advantage. Strategic leadership is vital for effective strategic change management - roles & responsibilities and strategic capability of strategic leadership.”

OpenAIRE

Chia, Grace Hui Yen

2009-01-01

The aim of this paper is to seek to understand the reachange is constant in today’s business for competitive advantage. And to make the strategic change happen in order to achieve the desired outcome, what will be the right strategic process flow. What are the key challenges that will be encountered throughout the process of strategic change management? This paper will also learn whether strategic leadership is vital to make the strategic change happen in the effective way since many literatu...

Public Relations Manager Involvement in Strategic Issue Diagnosis.

Science.gov (United States)

Lauzen, Martha M.

1995-01-01

Reports on an exploratory study that seeks to build theoretical understanding of how public relations practitioner involvement in one type of strategic organizational decision making--strategic issue diagnosis--is related to shared values with top management, diagnosis accuracy, strategy pursued, and the power of the public relations function. (TB)

The ensuring of the competitiveness of the enterprises through the strategic human resource management

Directory of Open Access Journals (Sweden)

Anna Burkovska

2016-12-01

Full Text Available The purpose of the article is to study the possibilities of ensuring competitiveness through the strategic human resource management. The study is based on the description of the necessity of strategic human resource management in Ukrainian conditions as a tool to enhance the competitiveness of agricultural enterprises. It is proved that the strategic management of the organization is the initial condition for the strategic management of its staff and competitiveness. Strategic management of human resources potential is considered as an approach to making decisions on the intentions and plans of the organization relating to the strategy and practice of recruitment, training, development, management performance and labor relations. The article describes the features of strategic human resource management as a basis for strategic capacity, which affects the competitiveness of enterprises and determines the direction of its further development. Correlation and regression analysis of dependence of productivity on the size of the average monthly wage of workers in the agricultural sector was held.

30 CFR 725.22 - Financial management.

Science.gov (United States)

2010-07-01

.... An agency shall use generally accepted accounting principles and practices, consistently applied... 30 Mineral Resources 3 2010-07-01 2010-07-01 false Financial management. 725.22 Section 725.22... PROGRAM REGULATIONS REIMBURSEMENTS TO STATES § 725.22 Financial management. (a) The agency shall account...

Credit Risk and Financial Performance Assessment of Illinois Farmers: A Comparison of Approaches with Farm Accounting Data

OpenAIRE

Zhang, Tianwei; Ellinger, Paul N.

2006-01-01

Pro forma financial performance evaluation of agricultural producers is an important issue for lenders, internal management and policy makers. Lenders strive to improve their credit risk management. Internal management is interested in understanding the financial impacts of alternative strategic decisions. And policy makers often assess the magnitude and distributional effects of alternative policies on the future financial performance of farm business. Data limitations are a major impediment...

Substantiation of Strategic Problem Concept in Anti-Crisis Management

OpenAIRE

Inna Irtyshcheva; Svitlana Minakova

2014-01-01

The article is devoted to the definition of the essence, objectives and characteristics of strategic crisis management. The interrelation of rank anti-crisis strategy in the hierarchy of the company strategies, depending on the identity of the company local, systemic or strategic crisis is analysed. The anti-crisis strategies are defined on the grounds of common characteristics. The types of tactics in crisis management are defined.

Strategic performance evaluation in cancer centers.

Science.gov (United States)

Delgado, Rigoberto I; Langabeer, James R

2009-01-01

Most research in healthcare strategy has focused on formulating or implementing organizational plans and strategies, and little attention has been dedicated to the post-implementation control and evaluation of strategy, which we contend is the most critical aspect of achieving organizational goals. The objective of this study was to identify strategic control approaches used by major cancer centers in the country and to relate these practices to financial performance. Our intent was to expand the theory and practice of healthcare strategy to focused services, such as oncology. We designed a 17-question survey to capture elements of strategy and performance from our study sample, which comprised major cancer hospitals in the United States and shared similar mandates and resource constraints. The results suggest that high-performing cancer centers use more sophisticated analytical approaches, invest greater financial resources in performance analysis, and conduct more frequent performance reviews than do low-performing organizations. Our conclusions point to the need for a more robust approach to strategic assessment. In this article, we offer a number of recommendations for management to achieve strategic plans and goals on the basis of our research. To our knowledge, this study is one of the first to concentrate on the area of strategic control.

30 CFR 735.25 - Financial management.

Science.gov (United States)

2010-07-01

... generally accepted accounting principles and practices, consistently applied. Accounting for grant funds... 30 Mineral Resources 3 2010-07-01 2010-07-01 false Financial management. 735.25 Section 735.25... ADMINISTRATION AND ENFORCEMENT § 735.25 Financial management. (a) The agency shall account for grant funds in...

20 CFR 435.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Standards for financial management systems... ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 435.21 Standards for financial management systems. (a) Introduction. SSA requires recipients to relate financial...

77 FR 20871 - Audit and Financial Management Advisory (AFMAC)

Science.gov (United States)

2012-04-06

... SMALL BUSINESS ADMINISTRATION Audit and Financial Management Advisory (AFMAC) AGENCY: U.S. Small... Financial Management Advisory (AFMAC). The meeting will be open to the public. DATES: The meeting will be... Agency's financial management, including the financial reporting process, systems of internal controls...

28 CFR 70.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Standards for financial management..., HOSPITALS AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 70.21 Standards for financial management systems. (a) Recipients must relate financial data to...

Liquidity management through financial planning

OpenAIRE

Kameníková Katarína

2001-01-01

One of the basic goals of financial management is to provide financial property and capital for running of the firm, as well as for its development, that means provide optimal firm´s liquidity.To improve liquidity is possible provide through various ways. In present time there is increasing importance of financial planning., where planning of liquidity presents one of its integral part. Therefore I deal in presented paper with possible liquidity improvement through calculation of financial pl...

Study on the knowledge management of strategic alliances in high technology enterprises

Institute of Scientific and Technical Information of China (English)

TANG Yu; WANG Hong-qi; WANG Shan-shan

2005-01-01

With the development of knowledge economy, the competition between high technology enterprises has gradually evolved into the competition of core competence based on knowledge, because high technology enterprises are typical knowledge-based enterprises. Few enterprises, especially for high technology firms, have all of the knowledge they need to compete effectively in the marketplace both at home and abroad, so more and more high technology companies are taking the advantage of strategic alliances to get their complementary knowledge. Since knowledge is the source of an enterprise' s competitiveness, knowledge management has become the most important means for enterprises to gain competitive advantage. There has been an increased growth in the literature on strategic alliances in recent decades. But what is less discussed in the existing literature on strategic alliances is the issue of knowledge management of strategic alliances in high technology enterprises. Based on the characteristics of strategic alliances in high technology enterprises, and in line with the implication and the goal of knowledge management, this study tries to delve into this issue. The paper analyzes the key factors relevant to the knowledge management of strategic alliances in high technology enterprises and proposes guide lines on the process and measures that should be taken in the knowledge management of strategic alliances in high technology enterprises.

The usage of financial derivatives in financial risk management by non- financial companies in Serbia

Directory of Open Access Journals (Sweden)

Živanović Branko

2017-01-01

Full Text Available In this paper we analyse the research results on corporate risk management practices, notably in light of the derivatives use in the large Serbian non-financial companies. The principal aim of this paper is to examine whether Serbian companies employ derivatives to manage risk and to what degree, and to explore the main rationale behind the companies' not employing these instruments, as well as to suggest possible enhancements of risk management practices. Furthermore, we have investigated the key reasons why financial derivatives are very useful for Serbian companies for hedging financial risks. Additionally, this paper provides a comparative overview of the use of derivatives between Serbian companies and the companies in Croatia and Slovenia in order to ascertain whether Serbian companies employ derivatives in order to manage risk to the same degree as their Croatian and Slovenian counterparts. This paper will include findings and provide evidence that FX rate and referent interest rates (such as 1w- 2w repo rate, Beonia and Belibor are markedly volatile, which opens vast possibilities for the use of financial derivatives, given that these financial parameters determine the price of a credit arrangement for companies and the quality of import and export cash flows.

Kentucky's highway incident management strategic plan.

Science.gov (United States)

2005-06-01

Kentucky s Highway Incident Management Strategic Plan consists of a mission statement, 4 goals, 16 objectives, and 49 action strategies. The action strategies are arranged by priority and recommended time frame for implementation. When implemented...

29 CFR 1470.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 29 Labor 4 2010-07-01 2010-07-01 false Standards for financial management systems. 1470.20 Section... Post-Award Requirements Financial Administration § 1470.20 Standards for financial management systems... the restrictions and prohibitions of applicable statutes. (b) The financial management systems of...

22 CFR 518.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 2 2010-04-01 2010-04-01 true Standards for financial management systems. 518... ORGANIZATIONS Post-Award Requirements Financial and Program Management § 518.21 Standards for financial management systems. (a) Federal awarding agencies shall require recipients to relate financial data to...

7 CFR 250.15 - Financial management.

Science.gov (United States)

2010-01-01

... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management. 250.15 Section 250.15 Agriculture Regulations of the Department of Agriculture (Continued) FOOD AND NUTRITION SERVICE, DEPARTMENT OF... Financial management. (a) Distribution charges. (1) Recipient agencies may be required to pay part or all of...

Modelling the Implications of Quality Management Elements on Strategic Flexibility

Directory of Open Access Journals (Sweden)

Ana Belén Escrig-Tena

2011-01-01

Full Text Available This paper presents a theoretical and empirical analysis of the implications of a quality management (QM initiative on strategic flexibility. Our study defines flexibility from a strategic approach and examines the extent to which, why, and how the triggering factors of strategic flexibility are related to QM elements. The hypotheses put forward are tested in an empirical study carried out on a sample of Spanish firms, using structural equation models. The results demonstrate the positive effect of adopting an integral QM initiative on enhancing strategic flexibility. QM enhances strategic flexibility more effectively when it is introduced comprehensively rather than in a piecemeal fashion. A series of practices linked to the application of a QM initiative are outlined, which managers can use to improve strategic flexibility. The approach used in the study can be applied to analyse other antecedents of flexibility and to propose possible studies that consider QM as an antecedent of other organisational variables.

Risk Management and Financial Derivatives: An Overview

NARCIS (Netherlands)

S.M. Hammoudeh (Shawkat); M.J. McAleer (Michael)

2012-01-01

textabstractRisk management is crucial for optimal portfolio management. One of the fastest growing areas in empirical finance is the expansion of financial derivatives. The purpose of this special issue on “Risk Management and Financial Derivatives” is to highlight some areas in which novel

34 CFR 80.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 34 Education 1 2010-07-01 2010-07-01 false Standards for financial management systems. 80.20... Financial Administration § 80.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...

20 CFR 437.20 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Standards for financial management systems... Financial Administration § 437.20 Standards for financial management systems. (a) A State must expend and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...

10 CFR 600.121 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Standards for financial management systems. 600.121... financial management systems. (a) Recipients shall relate financial data to performance data and develop....121(f) and 600.181, recipients' financial management systems shall provide for the following: (1...

40 CFR 31.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Standards for financial management... violation of the restrictions and prohibitions of applicable statutes. (b) The financial management systems... the financial management system of any applicant for financial assistance as part of a preaward review...

22 CFR 226.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Standards for financial management systems. 226... AWARDS TO U.S. NON-GOVERNMENTAL ORGANIZATIONS Post-award Requirements Financial and Program Management § 226.21 Standards for financial management systems. (a) Recipients shall relate financial data to...

45 CFR 1183.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 3 2010-10-01 2010-10-01 false Standards for financial management systems. 1183... Financial Administration § 1183.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...

14 CFR 1260.121 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Standards for financial management systems... Requirements § 1260.121 Standards for financial management systems. (a) Recipients shall relate financial data...) Recipients' financial management systems shall provide for the following. (1) Accurate, current and complete...

36 CFR 1207.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... financial management systems. (a) A State must expand and account for grant funds in accordance with State... management systems of other grantees and subgrantees must meet the following standards: (1) Financial... the financial management system of any applicant for financial assistance as part of a preaward review...

22 CFR 135.20 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Standards for financial management systems. 135... Financial Administration § 135.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...

45 CFR 1174.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 3 2010-10-01 2010-10-01 false Standards for financial management systems. 1174... Financial Administration § 1174.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...

A Correlational Analysis of Strategic Information Systems Planning in K-12 Public Educational Organizations

Science.gov (United States)

Martin, Christopher J.

2012-01-01

Three decades of research has indicated that strategic information systems planning is a vital component to business success. The purpose of this study was to identify the relationship strategic information systems planning and financial commitment has within the K-12 public education sector. Data for this study was obtained from top management of…

The Methodical Approach to Formation of the Economic-Social Provision of the Financial Security Management of Commercial Bank

Directory of Open Access Journals (Sweden)

Baryliuk Mariia-Mariana R.

2017-06-01

Full Text Available The article defines that the impact of threats on a commercial bank as an open socio-economic system results in losses that can be classified as financial, personnel, informational, and reputational. In terms of temporal horizons, losses are defined as tactical and strategic. Possible losses from external and internal threat implications have been determined, which have resulted in the development of a four-level structure of total losses from threat implications for the financial security of commercial bank. The proposed sequence of calculations for integrated assessment of threats impact provides an information basis for the development and introducing a set of interrelated organizational-economic measures to implement changes in the subsystem of financial security of commercial bank. The level of threats identified, the nature and extent of financial, personnel, information, and reputational losses are the basis for more efficient use of available resources and for improving the financial security management of commercial bank.

Managing risk and expected financial return from selective expansion of operating room capacity: mean-variance analysis of a hospital's portfolio of surgeons.

Science.gov (United States)

Dexter, Franklin; Ledolter, Johannes

2003-07-01

Surgeons using the same amount of operating room (OR) time differ in their achieved hospital contribution margins (revenue minus variable costs) by >1000%. Thus, to improve the financial return from perioperative facilities, OR strategic decisions should selectively focus additional OR capacity and capital purchasing on a few surgeons or subspecialties. These decisions use estimates of each surgeon's and/or subspecialty's contribution margin per OR hour. The estimates are subject to uncertainty (e.g., from outliers). We account for the uncertainties by using mean-variance portfolio analysis (i.e., quadratic programming). This method characterizes the problem of selectively expanding OR capacity based on the expected financial return and risk of different portfolios of surgeons. The assessment reveals whether the choices, of which surgeons have their OR capacity expanded, are sensitive to the uncertainties in the surgeons' contribution margins per OR hour. Thus, mean-variance analysis reduces the chance of making strategic decisions based on spurious information. We also assess the financial benefit of using mean-variance portfolio analysis when the planned expansion of OR capacity is well diversified over at least several surgeons or subspecialties. Our results show that, in such circumstances, there may be little benefit from further changing the portfolio to reduce its financial risk. Surgeon and subspecialty specific hospital financial data are uncertain, a fact that should be taken into account when making decisions about expanding operating room capacity. We show that mean-variance portfolio analysis can incorporate this uncertainty, thereby guiding operating room management decision-making and reducing the chance of a strategic decision being made based on spurious information.

Microsoft Dynamics GP 2013 financial management

CERN Document Server

Grieve, Ian

2013-01-01

A standard tutorial-based approach covering Microsoft Dynamics GP 2013 and its six financial modules. The book is intended to allow users to improve their system use and workflow by introducing new modules to assist in financial management.This book is for you if you're a Dynamics GP partner, or Dynamics GP user, primarily focused on delivering application optimizations. This book assumes that you have a working knowledge of Microsoft Dynamics GP and have an understanding of the requirements of financial management.

THE STRATEGIC DIAGNOSIS ANALYSIS - AN ESSENTIAL STAGE OF STRATEGIC MANAGEMENT PROCESS IN SMALL AND MEDIUM ENTERPRISES

OpenAIRE

Vladimir-Codrin IONESCU; Horea COROIU

2010-01-01

The strategic diagnosis analysis aims to assess the potential of small and medium enterprises by evaluating their inner resources and the business environment within which these enterprises perform their activity. As a first stage in the strategic management process, the strategic diagnosis analysis ensures the premises for founding, elaborating and operationalizing a competitive managerial strategy. In this context, the paper presents the conceptual criteria which are essential for thematica...

21 CFR 1403.20 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 21 Food and Drugs 9 2010-04-01 2010-04-01 false Standards for financial management systems. 1403... Financial Administration § 1403.20 Standards for financial management systems. (a) A State must expend and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...

Strategic raw materials. Risk management

International Nuclear Information System (INIS)

Bertau, Martin; Matschullat, Joerg; Kausch, Peter

2014-01-01

This volume is divided into four chapters: (1) Raw material management, (2) Primary raw materials, (3) Secondary raw materials and recycling, (4). Processing and products. The topics for the chapter ''Raw material management'' are: Substitution of raw materials - framework conditions and implementation; Thales: Strategic raw materials; Time for cooperation between the EU and China in raw materials policy; Availability of elements for the semiconductor industry; Market price risks of raw material-intensive companies - identification and management. The topics on the second item ''Primary raw materials'' are: The supply of economic-critical raw materials - A search and analysis for causes; Lithium extraction from primary raw materials - state and perspectives; The global market of rare earths - A balancing act; Rare earth deposits in Namibia; New technologies in exploration and discovery - Focus on activities in Europe. The third chapter, ''Secondary Raw Materials and Recycling'', covered the topics: Technology metals - Systemic Requirements along the recycling chain; Integrated re-use of high-tech and greentech wastes; From the sewage sludge ash to the phosphorus fertilizer RecoPhos P38 in the stress field of waste, fertilizer and soil protection. In chapter 4. ''Processing and products'' are the topics: Treatment and processing of rare earth metals; Processing of mineral resources - opportunities and challenges; Consequences of modern germanium chemistry; Strategic resources - Risk management. A review and outlook with a pinch of fantasy.. [de

A FINANCIAL AND ECONOMIC ACTIVITIES EFFECTIVENESS EVALUATION AS A CONDITION OF CORPORATE MANAGEMENT DECISIONS MAKING

Directory of Open Access Journals (Sweden)

Nataliia Bieliaieva

2017-09-01

Full Text Available The purpose of the paper is to substantiate, on the real figures, the need for enterprise’s financial and economic activities analysis as a condition of management decisions making to achieve the success of the company. Methodology. The research is based on a comparison and analysis of data from the organization top management. So using matrix analysis in the paper, the financial and economic activities effectiveness is evaluated. Based on these calculations, it is possible to make conclusions about the necessity of an identified management decisions regarding the future activity of the company. Results. Daily managers of various function levels accept hundreds and thousands of decisions regarding seemingly slight problems of the organization in general. At the same time, every such a decision, especially relating to the activity of the whole structure, should be clearly justified. Such a need stems from the fact that every decision leads to certain consequences. If there is a need to make a decision relating to the future of the enterprise (e.g., embodiment, reorganization, etc., it should be based on the data of the entire structure. And that is generally very difficult to do. Many factors complicate the possibility of comprehensive evaluation of the company’s activity. At the same time, analysis of basic indicators will provide the specialist with some directions according to which the priority of the analysis can be indicated and appropriate management decision can be made. Practical implications. It is built an effectiveness matrix of financial and economic activities of the enterprise. Analysis of financial and economic activities makes it possible to design necessary strategic and tactical plan for the enterprise development, revealing its reserves of production efficiency increasing. So the aim of the paper is the assessment of the effectiveness of financial and economic activities of the company on the base of matrix analysis as a

The Adoption of Strategic Management Accounting in Nigerian ...

African Journals Online (AJOL)

This study investigated Strategic Management Accounting (SMA) with a view to ... consists of Chief Executives, Chief Accountants and Marketing Directors of those ... Management Accounting; a consensus should be reached among business ...

SPAWAR Strategic Plan Execution Year 2017

Science.gov (United States)

2017-01-11

Transitioned financial reporting capability into SPAWAR’s business intelligence environment reducing the number of siloed business intelligence solutions...level forums, we are highlighting it here for visibility within the 2017 Strategic Execution Guidance. We will continue to report progress via...and savings • Number of analytic users MILESTONES Deliver Enterprise Business Intelligence Reports - Workforce Management Report Build #2 (January

What is Good University Financial Management?

Science.gov (United States)

Taylor, Mark P.

2013-01-01

In the current and foreseeable harsh UK higher education environment, aspiring to best-practice financial management will be key to ensuring the prosperity--and indeed the survival--of any university. In this article I argue that good university financial management should provide stability to the institution, allow for investment as well as…

Preemptive financial strategies help IPAs avoid insolvency.

Science.gov (United States)

Karling, J; Silberman, L

2000-11-01

The 1999 collapse in California of practice management giants FPA Medical Management, Inc. and MedPartners, Inc. has caused healthcare provider organizations, particularly independent practice associations (IPAs), to examine critical issues related to financial solvency. Problems such as declining membership, ineffective management, weak contracting, and lack of strategic vision frequently are encountered by troubled provider organizations. The common thread that runs through IPA failures is a combination of unreliable accounting data and inadequate reporting systems. This lack of satisfactory financial and reporting information impairs the ability of the provider group to maintain sufficient funds to cover expenses and pay physicians. Successful, financially stable provider networks use well-defined reporting procedures based on fundamental accounting and financial concepts, as well as a sound methodology for measuring and calculating claims liability estimates. In California, new regulations aimed at encouraging provider organizations to assume preemptive financial strategies are in the process of being adopted. IPAs in every state should consider reviewing these regulations as benchmarks by which to assess their financial procedures.

Strategic cost management in supply chains, part 2: Executional cost management

NARCIS (Netherlands)

Anderson, S.W.; Dekker, H.C.

2009-01-01

Strategic cost management is the deliberate alignment of a firm's resources and associated cost structure with longterm strategy and shortterm tactics. Although managers continue to pursue efficiency and effectiveness within the firm, increasingly, improvements are obtained across the value chain,

24 CFR 84.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Standards for financial management... and Program Management § 84.21 Standards for financial management systems. (a) HUD shall require.... (b) Recipients' financial management systems shall provide for the following: (1) Accurate, current...

76 FR 38672 - Redelegation of Authority to the Office of Strategic Planning and Management

Science.gov (United States)

2011-07-01

... the Office of Strategic Planning and Management AGENCY: Office of the Chief Operating Officer, HUD... HUD (COO) redelegates to the Director, Office of Strategic Planning and Management, authority and... Director, Office of Strategic Planning and Management, authority and responsibility for the development and...

Strategic Communication in Chaos Management and a Case Study

OpenAIRE

LATIF, Hasan; ELMAS, Tuğçe

2017-01-01

Abstract. Effective communication may be sufficient under normal conditions, but in chaos conditions strategic communication is required. There has been cases of unsuccessful management during times of sudden huge problems due to the use of wrong communication behaviors. This work presents together an example and the requisites of a successful a strategic communicator in chaotic conditions. The study begins with examples of mismanagement behaviors in strategic communication. It establishes a ...

Strategic aspects of nuclear and radiological emergency management

International Nuclear Information System (INIS)

Ahier, B.

2010-01-01

Emergency situations demand that actions be taken by responsible organisations in a timely and effective manner to mitigate consequences for the population, infrastructure and the environment, and to support the return of affected areas to normal social and economic activity to the extent possible. To deliver an effective response over the emergency management time-line, it is necessary to make, maintain and exercise adequate plans and arrangements in advance of an emergency situation. These must contain appropriate elements and resources for preparedness, response and assistance to identified threats, recognize and include all implicated partners, and take account of international interfaces. Effective management of complex emergency situations that can lead to a wide range of consequences and involve multiple organisations at the local, national and international levels also requires anticipation of the range of decision-making needs, an understanding of the interactions between response organisations and a model for their co-ordination. Experience from managing emergency situations has shown that the integration of these factors into emergency preparedness and response arrangements should be based on a guiding strategic vision. Emergency response is a dynamic process that develops in time from a situation of little information to one of potentially overwhelming information. Within this context, emergency response organisations must be able to respond in an appropriate and timely manner at any point along the emergency management time-line. This will be facilitated by an overarching framework to guide the decision-making process. To contribute to work in this area, the NEA Committee on Radiation Protection and Public Health (CRPPH) Working Party on Nuclear Emergency Matters (WPNEM) reviewed its collective experience to extract key themes that could form a strategy for improving decision-making in emergency management. This focused on the NEA International Nuclear

40 CFR 30.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Standards for financial management... Program Management § 30.21 Standards for financial management systems. (a) EPA shall require recipients to...) Recipients' financial management systems shall provide for the following. (1) Accurate, current and complete...

32 CFR 32.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 32 National Defense 1 2010-07-01 2010-07-01 false Standards for financial management systems. 32... Program Management § 32.21 Standards for financial management systems. (a) DoD Components shall require... unit cost information. (b) Recipients' financial management systems shall provide for the following. (1...

Strategic brand management: Archetypes for managing brands through paradoxes

OpenAIRE

Högström, Claes; Gustafsson, ,Anders; Tronvoll, Bård

2015-01-01

Although brands are acknowledged as significant assets in a firm's value creation and differentiation process, branding literature often describes opposing perspectives and contradictory demands. This article develops a framework of three strategic brand management archetypes that provide new insights into the complexity and often paradoxical ambiguity of branding. By combining an empirical qualitative study with extant brand management and relational exchange theory, the authors ...

Strategic Transport Management Models—The Case Study of an Oil Industry

Directory of Open Access Journals (Sweden)

Srđan Dimić

2016-09-01

Full Text Available The awareness of the need to preserve the environment and establish sustainable development evolved as the result of the development of the world economy and society. Transport plays a very important role in this process. It is recognized as one of the main factors in sustainable development strategy. Strategic transport management model is presented in this paper. It represents a comprehensive and complete strategic management process, beginning from the strategic analysis, then strategy formulation and its implementation to strategic control. What makes this model specific is the development of its phases using contemporary strategic management methods and MCDM (Multicriteria Decision Making techniques. In this way, subjectivity is avoided and the decision-making process is impartial. To formulate sustainable transport strategy, the authors use a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats and the fuzzy Delphi method as the basis to evaluate impact factors. Fuzzy SWOT analysis is applied to formulate strategic options and the selection of optimal option is realized through DEMATEL (Decision-Making Trial and Evaluation Laboratory-based ANP (Analytic Network Process. The strategic transport management model is applied to Serbian Oil Industry (NIS as a company engaged in the production and transport of oil and oil derivatives. The results presented in this paper have shown that this model can be successfully implemented in profit organizations. It also can be used to formulate strategies on the basis of scientific principles and create conditions for successful sustainable strategies implementation.

25 CFR 276.7 - Standards for grantee financial management systems.

Science.gov (United States)

2010-04-01

... 25 Indians 1 2010-04-01 2010-04-01 false Standards for grantee financial management systems. 276.7... grantee financial management systems. (a) Grantee financial management systems for grants and subgrantee financial management systems for subgrants shall provide for: (1) Accurate, current, and complete disclosure...

The Art of Strategic Management: A Case-Based Exercise

Science.gov (United States)

Maranville, Steven

2011-01-01

This article contends that the strategic thinking process is composed of two joint, but paradigmatically distinct, activities--analysis and synthesis. Analysis represents the scientific paradigm, whereas synthesis represents the artistic paradigm. Nevertheless, the Strategic Management course is dominated by the scientific paradigm, even though…

75 FR 4451 - Financial Management Service; Proposed Collection of Information: Final Rule-Management of...

Science.gov (United States)

2010-01-27

... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Final Rule--Management of Federal Agency Disbursements. AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...

Processes of Strategic Renewal, Competencies, and the Management of Speed

OpenAIRE

Volker Mahnke; John Harald Aadne

1998-01-01

We discuss strategic renewal from a competence perspective. We argue that the management of speed and timing in this process is viewed distinctively when perceived through a cognitive lens. Managers need more firmly grounded process-understanding. The key idea of this paper is to dynamically conceptualize key activities of strategic renewal, and possible sources of break-down as they relate to the managment of speed and timing. Based on a case from the media industry, we identify managerial t...

Managing strategic change--strategy, culture and action.

Science.gov (United States)

Johnson, G

1992-02-01

One of the major problems facing senior executives is that of effecting significant strategic change in their organizations. This paper develops a number of explanatory frameworks which address the links between the development of strategy in organizations, dimensions of corporate culture and managerial action. In considering such linkages, and by illustrating them with examples from work undertaken in companies, the paper also seeks to advance our understanding of the problems and means of managing strategic change.

Strategic cost management, contingent factors and performance in services

Directory of Open Access Journals (Sweden)

Odysseas Pavlatos

2018-06-01

Full Text Available The purpose of this paper is to investigate the relationship between contextual factors identified from contingency-based research, the extent of the use of strategic cost management (SCM techniques and business performance in services. An empirical survey was conducted on a sample of 88 services in Greece. The analysis of the survey data indicates that the use of strategic cost management techniques in services can be considered quite satisfactory. By drawing on the grounds of contingency theory, five factors were identified as potentially exhibiting an emergent relationship with strategic cost management. The five factors are; (1 Perceived environmental uncertainty, (2 Structure, (3 Organizational life cycle stage, (4 Strategy and (5 Size. The survey revealed that SCM usage is positively affected by these five contingent factors, while SCM usage, in turn, positively affects performance. A significant mediating effect of SCM usage on performance is evident.

2 CFR 215.20 - Purpose of financial and program management.

Science.gov (United States)

2010-01-01

... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Purpose of financial and program management... Financial and Program Management § 215.20 Purpose of financial and program management. Sections 215.21 through 215.28 prescribe standards for financial management systems, methods for making payments and rules...

34 CFR 74.20 - Purpose of financial and program management.

Science.gov (United States)

2010-07-01

... 34 Education 1 2010-07-01 2010-07-01 false Purpose of financial and program management. 74.20... Requirements Financial and Program Management § 74.20 Purpose of financial and program management. Sections 74.21 through 74.28 prescribe standards for financial management systems, methods for making payments...

22 CFR 518.20 - Purpose of financial and program management.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 2 2010-04-01 2010-04-01 true Purpose of financial and program management. 518... ORGANIZATIONS Post-Award Requirements Financial and Program Management § 518.20 Purpose of financial and program management. Sections 518.21 through 518.28 prescribe standards for financial management systems, methods for...

Reflection of Strategic Thinking in Activating Organizational Conflict Management Strategies

Directory of Open Access Journals (Sweden)

Ahmed Abed Mahmood Al-Janabi

2018-05-01

Full Text Available This research aims to determine the nature of the role of strategic thinking and its impact in improving organizational conflict management strategies in business organizations. Strategic thinking is the key driver of all changes that the organization can make to adapt to the environment in which it operates. Improving organizational conflict management strategies is one of the challenges Which face the top management of the contemporary organization to help them survive. The research problem indicated that there is a clear lack of strategic thinking in improving organizational conflict management strategies. The General Company for Vegetable Oils was chosen as the field of application. The sample was selected in a simple random sample of 104 persons. The questionnaire was adopted as a tool for obtaining On the data of the research, which was prepared based on a number of ready-made measurements after being subjected to tests of honesty and consistency. The statistical tools resulted in a number of results, most of which confirmed the existence of a relationship of correlation and effect of significance to strategic thinking in the sense of Organizational Conflict Management Strategies therefore been accepted and the main sub-hypotheses contained in the research.

THE FINANCIAL MANAGEMENT AND REGIONAL DEVELOPMENT

Directory of Open Access Journals (Sweden)

Brindusa Tudose

2015-07-01

Full Text Available The main objective of the study is to examine the role that financial management plays in ensuring regional development. This is because the crisis, economic globalisation, the increasing external growth of companies and the institutionalisation of the autonomy of local communities have fuelled the interest in identifying alternatives to local and thereby regional development. The targeted operational objectives were: to define the preliminary coordinates of regional development; to identify the role of private and public financial management in supporting regional development; and to present the financing framework of the Siret-Prut-Nistru Euroregion. The main financial levers with a direct impact on regional economic development there are: tax incentives; using EU financing programmes; leverage based on ownership of buildings and land; business incubators, etc. The study suggests that financial management (both public and private plays an important role in the development of the Euroregion, with wide-ranging present (in the post-crisis as well as future implications.

Strategic human resource management practices and ...

African Journals Online (AJOL)

This paper examined the theoretical perspectives of Strategic Human Resource Management Practices (SHRMPs) and organizational growth. The essence was to establish a relationship between SHRMPs and organizational growth. A qualitative research approach was adopted in an attempt to draw a relationship ...

U.S. Government Financial Statements: FY 2000 Reporting Underscores the Need to Accelerate Federal Financial Management Reform

National Research Council Canada - National Science Library

Walker, David

2001-01-01

.... In passing the 1990 Chief Financial Officers (CFO) Act and other financial management reform legislation, such as the Government Management Reform Act and the Federal Financial Management Improvement Act (FFMIA...

Family Life Education for Remarriage: Focus on Financial Management.

Science.gov (United States)

Lown, Jean M.; And Others

1989-01-01

Reviews literature on family financial management of remarried couples and describes educational workshop on financial management in remarriage. Proposes five premises based on family developmental conceptual framework. Encourages family life educators to include financial management in remarriage education programs and presents outline for…

Knowledge management adoption and its impact on organizational learning and non-financial performance

Directory of Open Access Journals (Sweden)

Yudho Giri Sucahyo

2016-06-01

Full Text Available This paper aims to investigate the determinants of knowledge management (KM adoption on organizational and individual level, as well as its impact on non-financial performance through an intermediary of organizational learning (“OL”. The KM adoption model was constructed by using a combination of TOE (Technology, Organizational and Environment for the organizational level and TPE (Technology, Personal, and Environmental framework for the individual level; this we called the TOPE (Technology, Personal, Organizational, and Environment framework. Questionnaires were sent to 60 Indonesian big companies which participated in the Most Admired Knowledge Enterprise (MAKE Award. Data from 139 respondents (51 companies was analysed using partial least squares (PLS. This study showed the most essential factors influencing KM adoption and practice are perceived usefulness, ease of use of KM technology, industrial factors, management support, organization culture, and IT infrastructure. Meanwhile, the factors that are loosely connected to adoption initiative and KM practice are mimetic pressure, strategic planning, and organizational structure. In addition, the result of this study inferred that KM adoption and implementation fairly impact on the improvement of non-financial performance by the intermediary of organizational learning capability improvement.

MANAGEMENT OF FINANCIAL STABILITY OF ENTERPRISES

Directory of Open Access Journals (Sweden)

Vladimir P. Bogko

2013-01-01

Full Text Available The priorities for improving the management of the enterprises financial stability in the current context are considered in the article. The scientifically based proposals for developing methodological foundations and tools of such management are developed. The implementation of these proposals allows to reduce financial risks of an enterprise in the terms of unsustainable development of Russian economy.

Cyber Terrorism demands a Global Risks and Threats Strategic Management

International Nuclear Information System (INIS)

Gareva, R.

2007-01-01

The world is in the third wave of development, which is digital managed and networked. Information, which creates the knowledge is transferring thorough the Internet by exponential function. The rapid advancement of the computer technology has a great influence over the development of the critical information infrastructure, thus changing the safety environment and the national values and interests. This advancement produces threats and risks from computer perspective which are sublimated in different forms of international terrorism and particularly in cyber terrorism. The main aim of this paper is based on a thorough analysis of what is scientifically known and practiced when nowadays critical information infrastructure is in the focus of the cyber terrorism. The rapid IT development demands changes in the strategic management focus. As a result of a time-consuming theoretical and empirical research this paper suggests a methodology for strategic managing of: threats, risks and vulnerabilities. The proposed methodology is seen as a mean to increase the human security conscious in every sense of the word, and to promote the need for rules, procedures and standards establishment from the aspect of the strategic management in the new information epoch concerning. In addition, through a scientific discourse, a short attempt is made to relate Macedonian reality with the phenomenon mentioned above. The most fundamental set phrase is that the efficiency and promptly made decisions during strategic planning are a projection of the systematic organization of functions and models for managing the risks and threats of the critical information infrastructure. Hence, this paper could be seen as a perspective when taking in consideration the regional strategic management, and the cyber space vital functioning. (author)

49 CFR 19.21 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 49 Transportation 1 2010-10-01 2010-10-01 false Standards for financial management systems. 19.21... ORGANIZATIONS Post-Award Requirements § 19.21 Standards for financial management systems. (a) Federal awarding... information whenever practical. (b) Recipients' financial management systems shall provide for the following...

43 CFR 12.921 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Standards for financial management systems... Organizations Post-Award Requirements § 12.921 Standards for financial management systems. (a) Federal awarding... information whenever practical. (b) Recipients' financial management systems shall provide for the following...

45 CFR 2543.21 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 4 2010-10-01 2010-10-01 false Standards for financial management systems. 2543... OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 2543.21 Standards for financial management systems. (a) Federal awarding agencies shall require recipients to relate...

15 CFR 14.21 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Standards for financial management...-PROFIT, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 14.21 Standards for financial management systems. (a) The Grants Officer shall require recipients to relate...

38 CFR 49.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... Program Management § 49.21 Standards for financial management systems. (a) Federal awarding agencies shall... practical. (b) Recipients' financial management systems shall provide for the following. (1) Accurate... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Standards for financial...

36 CFR 1210.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... Program Management § 1210.21 Standards for financial management systems. (a) The NHPRC shall require.... (b) Recipients' financial management systems shall provide for the following. (1) Accurate, current... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Standards for financial...

45 CFR 2541.200 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 4 2010-10-01 2010-10-01 false Standards for financial management systems. 2541... STATE AND LOCAL GOVERNMENTS Post-Award Requirements § 2541.200 Standards for financial management... violation of the restrictions and prohibitions of applicable statutes. (b) The financial management systems...

20 CFR 638.808 - Center financial management and reporting.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Center financial management and reporting... § 638.808 Center financial management and reporting. The Job Corps Director shall establish procedures to ensure that each center operator and each subcontractor maintain a financial management system...

Strategic human resource management and corporate social responsibility: Evidence from Emerging Markets

OpenAIRE

Rosolen, Talita; Maclennan, Maria Laura Ferranty

2016-01-01

Corporate social responsibility practices are increasingly being adopted and legitimized in business and they impact the strategic and operational levels in various areas. The integration of these criteria and practices in the strategic management involves many factors, and human resource management is an essential aspect for the accomplishment of such initiative. Thus, this paper associates the relationship among corporate social responsibility (CSR) various dimensions (strategic, ethical, s...

The nuclear industry and its markets in Europe. 1996, strategic and financial future prospects. Synthesis

International Nuclear Information System (INIS)

1996-01-01

This synthesis report assesses the strategic and financial future prospects of the nuclear industry. It includes in particular the future prospects of the nuclear energy demand increase in the world and compares the nuclear power production with the electric power production due to other energy sources. The different markets of the nuclear industry are detailed. At last are given the main European manufacturers of the nuclear sector. (O.M.)

7 CFR 3560.302 - Accounting, bookkeeping, budgeting, and financial management systems.

Science.gov (United States)

2010-01-01

... Financial Management § 3560.302 Accounting, bookkeeping, budgeting, and financial management systems. (a) General. Borrowers must establish the accounting, bookkeeping, budgeting and financial management... preparation, and financial management reporting systems through a revision of their management plan. (c...

The Architecture of Financial Risk Management Systems

Directory of Open Access Journals (Sweden)

Iosif ZIMAN

2013-01-01

Full Text Available The architecture of systems dedicated to risk management is probably one of the more complex tasks to tackle in the world of finance. Financial risk has been at the center of attention since the explosive growth of financial markets and even more so after the 2008 financial crisis. At multiple levels, financial companies, financial regulatory bodies, governments and cross-national regulatory bodies, all have put the subject of financial risk in particular and the way it is calculated, managed, reported and monitored under intense scrutiny. As a result the technology underpinnings which support the implementation of financial risk systems has evolved considerably and has become one of the most complex areas involving systems and technology in the context of the financial industry. We present the main paradigms, require-ments and design considerations when undertaking the implementation of risk system and give examples of user requirements, sample product coverage and performance parameters.

Financial Management: Analysis of DoD's First Biennial Financial Management Improvement Plan

National Research Council Canada - National Science Library

1999-01-01

...). The plan is to be submitted not later than September 30 of each even-numbered year and is to address all aspects of financial management within DOD, including the finance systems, accounting systems...

7 CFR 3016.20 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Standards for financial management systems. 3016.20... Standards for financial management systems. (a) A State must expand and account for grant funds in... financial management systems of other grantees and subgrantees must meet the following standards: (1...

10 CFR 600.311 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Standards for financial management systems. 600.311... Requirements § 600.311 Standards for financial management systems. (a) Recipients are encouraged to use existing financial management systems to the extent that the systems comply with Generally Accepted...

7 CFR 277.6 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 7 Agriculture 4 2010-01-01 2010-01-01 false Standards for financial management systems. 277.6... ADMINISTRATIVE COSTS OF STATE AGENCIES § 277.6 Standards for financial management systems. (a) General. This section prescribes standards for financial management systems in administering program funds by the State...

44 CFR 13.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Standards for financial... Standards for financial management systems. (a) A State must expand and account for grant funds in... financial management systems of other grantees and subgrantees must meet the following standards: (1...

42 CFR 137.21 - How does an Indian Tribe demonstrate financial stability and financial management capacity?

Science.gov (United States)

2010-10-01

... 42 Public Health 1 2010-10-01 2010-10-01 false How does an Indian Tribe demonstrate financial stability and financial management capacity? 137.21 Section 137.21 Public Health PUBLIC HEALTH SERVICE... How does an Indian Tribe demonstrate financial stability and financial management capacity? The Indian...

EXISTS A RELATIONSHIP BETWEEN STRATEGIC HUMAN RESOURCES MANAGEMENT, INNOVATION AND COMPETITIVE ADVANTAGE?

Directory of Open Access Journals (Sweden)

ANCA-IOANA MUNTEANU

2015-02-01

Full Text Available This paper is purely theoretical, having as starting points both existing information in the literature and their correlations. The text does not have a generalized, but represent personal opinions and conclusions. Critically analyzing the definitions given in the literature the term "strategic human resource management ", we found that most of them referred to the involvement he has it in obtaining competitive advantage of an organization. Also, starting from the study of different approaches to strategic management of human resources, we can see that besides the role that obtain competitive advantage, it supports innovative activity of a company. So we can talk about a link between strategic management of human resources, innovation and achieving competitive advantage. By presenting how strategic human resource management can be implemented in an organization, its high performance practices for human resources, it demonstrates that they support employee creativity through free expression of ideas, involvement in decision making, resulting in the way to innovation and thus to obtain competitive advantage. This work, theoretical, was completed by a presentation that show the interdependencies that exist between the three think elements: strategic human resources management, innovation, competitive advantage.

7 CFR 25.606 - Financial management and records.

Science.gov (United States)

2010-01-01

... 7 Agriculture 1 2010-01-01 2010-01-01 false Financial management and records. 25.606 Section 25... COMMUNITIES Round II and Round IIS Grants § 25.606 Financial management and records. (a) In complying with the... retained in electronic form. (b) Grantees must retain financial records, supporting documents, statistical...

38 CFR 43.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... violation of the restrictions and prohibitions of applicable statutes. (b) The financial management systems... the financial management system of any applicant for financial assistance as part of a preaward review... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Standards for financial...

10 CFR 603.620 - Financial management standards for nonprofit participants.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Financial management standards for nonprofit participants... Financial Matters § 603.620 Financial management standards for nonprofit participants. So as not to force... organization, expenditure-based TIA requirements for the financial management system of any nonprofit...

Financial Management: U.S. Army Corps of Engineers Financial Information Imported Into the Defense Departmental Reporting System - Audited Financial Statements

National Research Council Canada - National Science Library

Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W

2004-01-01

... are: the Corps of Engineers Financial Management System, the Corps of Engineers Enterprise Management Information System, and the Defense Departmental Reporting System - Audited Financial Statements...

40 CFR 35.6270 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Standards for financial management... § 35.6270 Standards for financial management systems. (a) Accounting system standards—(1) General. The... of the adequacy of the financial management system as described in 40 CFR 31.20(c). (2) Allowable...