25 points! ! ! Please tell me the secret of success of several big international enterprises!

The management secrets of successful large enterprises in the world have always been talked about by people. Some people think that it is the advantage of capital, while more people think that it is the advantage of management ... Enterprises are economic organizations that pursue economic benefits. In economic organizations, financial management is an important means for enterprises to obtain benefits. Therefore, only by correct financial administration, the goal is to optimize the allocation, effectively operate resources and maximize capital appreciation, while the goal of financial management is to raise funds reasonably, effectively put and use funds, improve the profitability of funds, and strive for the survival and development of enterprises. Ensure that enterprises maximize shareholders' rights and interests in dynamic development. The consistency between the objectives of capital management and financial management determines that the core position of financial management in modern enterprise management must be established. [2]

(2) The core position of financial management in modern enterprise management

In the early 199s, Chinese enterprises and the competent departments of enterprises put forward the "financial management center theory", which was widely valued. In 1995, Minister Liu Qi of the Ministry of Metallurgical Industry pointed out that financial management should be placed at the center of enterprise management. The central position of financial management is not determined by people's subjective will, it is determined by the purpose of enterprises pursuing benefits, the requirement of market economy operation and the requirement of maintaining and increasing the value of state-owned assets. Doing a good job in financial management means holding the "bull's nose" of enterprise management activities, and grasping management will also be implemented. The following two aspects to discuss the specific embodiment of its core position.

1 from the essence of financial management to see its core position.

the essential attribute of financial management determines its central position. Financial management is a kind of value management, which is the basis of all enterprise management activities and the central link of enterprise management activities. The characteristics of financial management determine that it runs through all aspects and the whole process of enterprise production and operation, and has extensive connections with all aspects of enterprises. The realization of its goal still depends on the cooperation of other specific and in-depth management work. In the business activities of enterprises, the tentacles of financial management often extend to every corner of enterprise management, so that it can be implemented in every process and every link. Every department will contact with the financial department through the right to use funds, and it is necessary to economize on the rational use of funds and be bound by financial management control in terms of capital expenditure to ensure the improvement of economic benefits of enterprises.

2 From the function of financial management, its core position

The function of financial management is decision-making, planning and control, and the means to realize management is that it makes decisions on enterprise management through the process control of various economic activities in production and business activities, and the comprehensive business plan formed by the decision is implemented and realized accordingly. Planning is the result of decision-making, while control is the implementation process of planning, and planning is the standard of control, so financial decision-making, financial planning and financial control form a cycle of financial management, which runs through the whole process of enterprise management. Through various financial means, we can find out the problems existing in production and sales, and at the same time, we can also find out whether the capital structure and investment status of the enterprise are reasonable and whether the capital circulation is benign and organic, so as to comprehensively reflect the production, operation and financial status of the company until it reflects the overall competitive strength of the enterprise. It is the function of financial management to reflect all aspects of the enterprise in a special way that determines its core position in enterprise management.

in short, enterprise management runs through the whole process of enterprise operation, covering all aspects of enterprise operation, involving all aspects of enterprise operation. The quality of enterprise management depends on the level of enterprise management to a certain extent, and the key to the level of enterprise management lies in financial management.

(3) the important role of financial management in enterprise management

1 Revitalize funds and improve the efficiency of capital use

Capital is the fundamental guarantee of enterprise production and operation activities. The so-called capital management is to master the process of capital movement and make reasonable judgments through analysis, so as to make scientific predictions and decisions, and strive to achieve greater economic benefits in financing and investment, and then grasp the existing problems and improve them in time through financial analysis in the process of enterprise production and operation. We can also recover funds in time, allocate funds rationally and speed up capital turnover through financial management to improve economic benefits.

2 participate in supply and marketing management to reduce operating costs

in terms of material supply, the focus of enterprise management is to control procurement costs, and at the same time, control the quantity and quality of procurement to reduce losses. In terms of sales, the focus of enterprise management is to adopt flexible sales policies for different customers, increase the market share, and at the same time increase the recovery of funds to achieve a virtuous circle of funds. At the same time, cooperate with the production and sales departments to do a good job of production and marketing convergence, and calculate the minimum sales price limit of each batch of contracts around the contract orders. Establish a market system, make it market-oriented, and further expand the sales share of domestic and foreign markets. Financial management is a work that needs to be considered comprehensively, unified in objectives and coordinated. Focusing on financial management, we should realize the change of ideas instead of looking at literature. [3] Because all business activities of an enterprise are handled and reflected through financial relations, the operating results of the enterprise are ultimately through various financial linkage chains, which have a pivotal role. Doing a good job in financial management is equal to grasping the enthusiasm and initiative of management activities, so that it is possible to improve the management level of enterprises and make them stronger in the market competition, thus enhancing their economic benefits and maintaining a virtuous circle.

second, the characteristics of modern enterprise financial management

from planned economy to market economy, it is a sudden change for every enterprise, and it is also an opportunity for all-round development of enterprises. In the market economy environment, the modern enterprise system is well known to people, that is, it adapts to the requirements of socialized mass production and the market economy with "clear property rights, clear rights and responsibilities, separation of government from enterprise, and scientific management". It establishes the separation of corporate property rights and enterprise ownership, and enterprises have operational autonomy. The change of enterprise development environment requires the change of our concept. Under the modern enterprise system, enterprise financial management should adapt to the two fundamental changes of economic system and economic growth mode and expand the requirements of opening to the outside world, basically complete strategic adjustment and reorganization, form a more reasonable economic layout and structure, establish a relatively perfect modern enterprise system, and the economic benefits will be obviously improved. The ability of scientific and technological development, market competition and risk resistance have been significantly enhanced.

Modern enterprise financial management is an important part of enterprise management. It is a job of organizing enterprise financial activities and handling financial relations according to financial laws and regulations and the principles of financial management. Modern enterprise financial management is a sublation development on the basis of traditional financial management, which is quite different from closed, ex post and static financial management. It emphasizes pre-prediction, in-process control and ex post analysis, involving all aspects of enterprise management and becoming the center of enterprise management. Its main features are as follows:

(1) Integration of value management

Under the modern enterprise system, enterprises take assets as the link, and the business mode of enterprises has been effectively expanded in depth and breadth, that is, from general enterprises focusing on commodity production to paying equal attention to commodity production and asset management, especially when the total assets of enterprises are unbalanced and the operating efficiency is low, the effective flow of enterprise capital can be achieved through reorganization, merger and merger. The accounting work of enterprises is facing the transformation from accounting management that only focuses on recording, sorting, accounting, analysis and inspection of business activities to a new financial management model based on comprehensive management, focusing on rational allocation of assets and effective use of capital. Modern enterprise system requires us to improve our understanding of accounting work in the new form, establish the concept of asset management, build a financial management framework, standardize management behavior, pay attention to the analysis and management of various problems faced by enterprise finance in the new period, strengthen management, and give full play to the comprehensive role of financial management.

(II) Budgeting of financial management

Under the condition of market economy, enterprises must overcome the passive dependence in management in the past, and carefully prepare the capital budget according to the capital demand in advance according to the changing market conditions and the strategic objectives of enterprises, so as to avoid the vicious circle of enterprise capital management because there is no capital budget in advance and funds are urgently needed, which will increase the capital cost of enterprises. With the establishment and perfection of market economy system and the implementation of modern enterprise system, many new problems have been raised in the theory and practice of enterprise financial management, and broad prospects have been created for financial management. Therefore, on the one hand, we should pay attention to the timely shift of the focus of financial management, and at the same time, we should open up new areas of enterprise financial management step by step to improve the economic benefits of enterprise capital operation, and finally improve the financial management level of Chinese enterprises in an all-round way.

(3) Diversification of financing channels

After China's entry into WTO, Chinese enterprises can not only raise funds in an effective domestic market, but also raise funds in overseas markets more conveniently; At the same time, we can also raise funds by means of international trade credit, international leasing and international compensation trade. On December 1, 22, China's QFII system was formally implemented, and qualified foreign investors can engage in business in China, which indicates that China's securities market has taken the first step towards internationalization, which means that Chinese enterprises can choose not only domestic brokers to engage in financing business, but also overseas brokers to engage in securities underwriting business when listing in China. [4] It is foreseeable that China will establish a second-board market in the near future, which will create another new financing channel for China's high-tech enterprises.

(4) Scientific investment decision

As the external environment of Chinese enterprises gradually approaches to mature market countries, the hypothesis of efficient market theory is established, so a series of technologies and methods of western financial management can be applied in China. For example, the capital cost rate of an enterprise can be estimated by CAPM method, and the future cash flow generated by long-term investment can be converted into net present value by using the comprehensive capital cost rate to calculate whether long-term investment can create new value for shareholders.

III. Current situation and existing problems of financial management

At present, there are many problems in the financial management of Chinese enterprises, and the following article will put forward some problems that need to be solved urgently in view of the country and enterprises.

(1) State's financial management of enterprises

Compared with developed countries, there is indeed a big gap in the financial management level and financial information system construction level of state-owned enterprises in China. There is no doubt that Chinese enterprises must narrow this gap if they want to achieve leap-forward development. From the current reality of financial management of state-owned enterprises, there are some problems that can not be ignored, such as serious loss and waste of assets, loss of national income, and decline of overall management level. Mainly manifested in: lax financial discipline, serious violations of law and discipline; The fund management is out of control and the consumption fund expands; Blind arrangement of investment, low capital efficiency; Weak financial foundation and lax internal control system.

There are many reasons for the problems existing in the financial management of state-owned enterprises, but the most fundamental reason is mainly the limitations of the financial system itself.

1 The financial system ignores the differences of economic models in different countries and pays too much attention to the integration with the international community

As we all know, China is dominated by the public sector of the economy, which is the soil and foundation for the state-owned enterprises to take root. In the western developed market economy countries, private ownership economy is the main body, and the government regulates and guides it through laws and systems in the capacity of macro-control. However, China's financial system ignores the differences in economic models, and it is simply grafting, which is obviously unrealistic.

2 The management authority of state-owned capital investors is not clear, and the property right of enterprise legal person is too large

According to the management mode of state-owned enterprises in western countries, the government is not only a capital investor, but also a macro-regulator. It is impossible to separate government from enterprise when managing state-owned enterprises. The key is to clearly divide the responsibilities and authorities between the government and enterprises. Although we have given the enterprise legal person property rights, we have also given many powers belonging to the investor and the owner to the enterprise. Under the premise of lack of effective supervision, there has been a phenomenon of abuse of power by enterprises. For example, the lack of necessary control over projects to be amortized and processed and deferred assets creates conditions for enterprises to artificially adjust profits; In the decision-making of foreign investment, there is a lack of effective constraints and norms, resulting in blind investment and loss and waste, and there is also a lack of effective constraints on wages, welfare, housing and other consumer expenditure items, which makes it occupy the production and operation funds of enterprises; In addition, it also retains greater randomness for enterprises in foreign donations. [5]

3 No effective supervision and restraint mechanism has been established

Since the reform and opening up, we have formed and established relatively complete laws and regulations on financial and economic supervision, and the corresponding departments are implementing them respectively. Such as accounting law, CPA law, auditing law, tax collection and management law, criminal law, financial supervision regulations, financial supervision of financial departments, etc., have initially formed a fiscal and taxation monitoring system that meets the requirements of the market economic system, laying a necessary foundation for improving the legal system, standardizing social and economic order, and protecting state-owned rights and interests. However, the current supervision system is always not strong enough, the illegal acts are not dealt with strictly, the supervision departments are too numerous and excessive, and the division of responsibilities, authorities and responsibilities is unclear, which can not achieve the desired results.

(II) Financial management of enterprises

1 The original theory of property rights intensifies the conflict among shareholders, operators and employees

Knowledge economy is an economy based on the production, distribution and use of knowledge and information, which changes the traditional resource allocation structure with factories, machines and capital as the main content into a resource allocation structure with knowledge capital as the main content. However, our existing property rights theory and system still maintain the "owner's property rights theory", ignoring the important role of human capital in the company. In fact, in the existing market economy, employees who create, accept, use, process information and master knowledge and technology play an increasingly important role in the creation of corporate wealth. Therefore, in the transition period from traditional industrial economy to knowledge economy, modern enterprises are no longer just a problem of "separation of ownership and management rights". In fact, modern enterprises are a "composite contract" between financial capital and knowledge capital and their ownership, and they are the property rights cooperation of "stakeholders". In the traditional industrial economy era, the theory and system of property rights only pay attention to the allocation of tangible assets and invested capital, ignoring the effective allocation of intellectual capital, only paying attention to the investor's right to claim the surplus of the enterprise, and excluding the intellectual labor and its related stakeholders' right to distribute the surplus of the enterprise, thus intensifying the conflicts and contradictions among stakeholders such as owners (shareholders), operators and employees. In addition, from the perspective of the financial governance structure of Chinese enterprises, we must innovate the objectives and contents of financial management.

2 changes in financial management environment

(1) changes after China's entry into WTO. After China's entry into WTO, enterprises can directly do business with foreign countries, directly absorb foreign investment and directly invest abroad without going through layers of examination and approval or entrusting foreign trade companies. There are indeed many differences between China's current accounting system and the international common system. For example, in the depreciation of fixed assets, most industries in China adopt the straight-line depreciation method, which takes into account the current national financial capacity. However, this makes the payback period of China's fixed assets relatively long, which does not conform to the principle of conservatism in accounting and the ratio of income to expenses.