What are the characteristics of the enterprise financial management environment in the new environment

Thesis Keywords:Financial Management;Coping Strategies;Environment and Trend (Provided by Controlling the Whole)

Thesis Abstract:With the gradual formation and continuous improvement of China's socialist market economic system, the economic structure and management mode have undergone profound changes. Under the new situation, how to make China's financial management in line with international standards and how to improve economic efficiency by strengthening management have not been well solved from the combination of theory and practice. China's sustained and rapid economic development has brought about the expansion of financial services, but also for the financial practice and theory provides room for development, in the era of globalization, information technology, digital change, accession to the WTO, the trend of transnational business in China's enterprises objectively puts forward a higher demand for financial management theory and practice.

Corporate finance is the organization of financial activities and deal with financial relations of an economic management behavior. With the continuous changes in the social and economic environment, science and technology, the content and functions of financial management is also constantly expanding. The core of enterprise management is financial management, which runs through all aspects of business management, each link; affect the enterprise's product development, production, operation, sales and personnel appointments and dismissals, etc., therefore, it can be said that, to seize the financial management, to seize the enterprise's main line.

First, the new environment of enterprise financial management deficiencies

In the face of economic globalization, knowledge-based economy and e-commerce and other domestic enterprises on the old financial management concepts and ways of impact, contemporary financial management theory and methodology has been significantly incomplete to adapt to the 21st century financial management of the environmental changes in the financial management of the enterprise financial management practices in the guidance of the elbow. This is mainly manifested in the following aspects: (1) the theoretical basis of contemporary financial management is established in the industrial economy, based on the management of tangible assets, while the world is now striding towards the knowledge economy, the proportion of intangible assets gradually rising, some high-tech enterprises intangible asset value has greatly exceeded the value of tangible assets. (2) the means of contemporary financial management is backward, with the development of communications technology and information technology, network financial imperative. (3) Contemporary financial management in the risk management scope is narrow, limited to financial risk, and the management of risky investment is rarely discussed. (4) the current financial system is dull, incentives and constraints mechanism is not equal, incompatible and so on.

Second, the enterprise financial management environment analysis

Any enterprise financial activities can not be completely closed, these activities are carried out in a certain environment, by the environmental impact and constraints. Enterprise financial management environment that is the financial environment refers to the financial activities and their management of the impact of internal and external conditions or factors. In these conditions or factors, part of the enterprise belongs to the internal, controllable, mainly including the internal form of organization, governance structure, management system and the quality of personnel, accounting information systems, etc.; part of the external, uncontrollable, more can only adapt to their requirements and changes. This part mainly includes the economic environment, financial market environment, tax environment, macro policy environment and legal environment.

1. Wave of economic globalization

In the past 20 years, under the impetus of technological progress and the open policy of various countries, the process of economic globalization has been accelerated, and has become the mainstream of world economic development. With the expansion of international trade and international investment, the Internet as a representative of information technology in the production, circulation, consumption and other areas of extensive application, in the 21st century, the foreseeable period, economic globalization will show new features: First, the network economy will drive telecommunications, banking, insurance and transportation and other global services market continues to expand, has been formed on the time of each other continuous, price linkage of the international financial transactions network, with the transaction of the price of the international financial transactions network, with the transaction of the international financial services market, the international financial transactions network, with the transaction of the international financial services network, with the transaction of the international financial services network, with the transaction of the international financial services network. The international financial transaction network has already been formed with continuous time and price linkage, and with the continuous innovation of transaction means and methods, the transaction volume will grow rapidly. Secondly, transnational corporations have broken through the antitrust law constraints, global mergers and acquisitions will involve more areas, the scale of the expanding transnational corporations, the scale and market share of the expanding production, marketing, consumption and increasingly global.

2. The Rise of the Knowledge Economy

In 1996, the Organization for Economic Cooperation and Development (OECD) formally used the concept of "knowledge economy" for the first time in its report "The Knowledge-Based Economy" and gave a clear definition of "knowledge economy", namely, "knowledge economy". The concept of "knowledge-based economy" was first formally used by the Organization in its report "Knowledge-Based Economy", and a clear definition of "knowledge-based economy" was given, that is, "a knowledge-based economy is an economy based on the production, distribution and use of knowledge and experience". This marks the advent of a new era. The development direction of knowledge economy is mainly embodied in two aspects: one is the high degree of penetration of knowledge into traditional industries, comprehensively improving the technological content of traditional industries and promoting the continuous upgrading of industries; the other is the rapid development of high-tech industries. The high-tech industry, the United States is also known as the "new economy", that the United States in the last decade or so of sustained and steady economic development, mainly attributable to the "new economy", and the development of the "new economy". The development of the "new economy" has led to the upgrading of traditional industries, thus establishing a virtuous cycle of economic development. For enterprise financial management, the knowledge economy has changed the enterprise resource allocation structure, so that the traditional plant, machinery, capital as the main content of the resource allocation structure changed to the knowledge-based intellectual capital-based resource allocation structure. Then, how to recognize, measure and manage intellectual capital has become an important issue.

3. E-commerce is booming

E-commerce was first proposed by IBM in the 1990s, and is the result of the combination of computer technology and communication technology. Compared with the traditional business model, e-commerce is a new business model. With the development of e-commerce, the traditional financial management has evolved to the network financial era. The most significant feature of network finance is real-time reporting, can be managed online. Network financial prospects are attractive, but it causes the same security problems people worry about.

4. Corporate restructuring

Corporate restructuring since the 1980s from the United States since the emergence of more and more intense, has become a wave sweeping the world. From its external form and historical evolution, it is divided into three forms, but also three stages: (1) the 80's internal restructuring of the company, that is, the compression of the management level, so that the management of more flexible and flexible, divestment of the company's non-core business, enhance the company's core competencies, thereby greatly improving the company's ability to compete globally. (2) the 90's mergers and acquisitions between companies and reorganization, this wave of mergers and acquisitions with the 20th century, the previous waves of mergers and acquisitions have significantly different characteristics. First, cross-border mergers and acquisitions are on the rise; second, mergers and acquisitions are concentrated in the tertiary industry and emerging industries. (3) The emergence of virtual enterprises in the late 1990s. Some people think that the virtual enterprise is the network company, in fact, this is a kind of misunderstanding, the network company is only a kind of virtual enterprise. The so-called virtual enterprise, according to the German University of Stuttgart, Professor H.J. Bulllger's explanation: "virtual enterprise is such a network organization: due to information technology and communication technology is highly developed, the cooperation relationship between enterprises has broken through the traditional long-term fixed cooperative relations, such as joint ventures, multinational corporations, etc., and through the network, the application of information technology and communication technology for decentralized and mutually beneficial cooperation. Through the network, the application of information technology and communication technology for decentralized cooperation for mutual benefit, once the purpose of cooperation has been achieved, this cooperative relationship will be declared dissolved. Therefore, this is a temporary, spatial span of the form of cooperation.

Third, the new environment to deal with the challenges of enterprise financial management should take countermeasures

1. Strengthen the theoretical study of financial management

The study of the future in order to better grasp the present. The development trend of financial management in the 21st century is also to further improve and innovate the current financial management theory and methodology system, so as to better guide the financial management practice. China's theoretical community for the development of financial management in the 21st century research, is still in its infancy. Financial management theory research is relatively lagging behind, seriously restricting the development of financial management. This is mainly manifested in: ① financial management theory research attached to accounting theory research, financial management practice is still in a state of disorder; ② lack of financial management professionals; ③ we are currently in a big change in the organizational structure of enterprises, the lack of a more mature and standardized enterprise restructuring, corporate restructuring, mergers and acquisitions, cross-border operations and other financial management theory and case studies. But with the market economy further from disorder to order, financial management is also increasingly important, enterprise management will be the original "production-oriented" or "market-oriented" as the center, transferred to "financial management-oriented" as the center. Type" as the center. Therefore, for how to develop China's financial management theory, the author suggests taking the following countermeasures: ① to establish a stable, high-level financial management research team, advocating financial management theory research; ② effectively strengthen the university financial management education, accelerate the cultivation of financial management professionals; ③ theoretical and practical cooperation to carry out research and study of financial management of enterprises, case studies, *** with the promotion of the development of financial management; ④ the theory of cooperation with the practical world, the enterprise financial management survey research, case studies, *** with the promotion of Financial management development; ④ scientific research, strengthen the restructuring of enterprises, corporate restructuring, mergers and acquisitions, cross-border operations and other financial management research.

2. Under the new situation, the choice of financial management mode of enterprise groups

The financial management of enterprise groups must be market-oriented, capital as a link to the modern enterprise system as a guarantee, a reasonable allocation of enterprise group assets, to give full play to the advantages of the group, improve the operating efficiency of capital. Enterprise group companies on the group members of the financial management model can be divided into "centralized", "decentralized" and "decentralized management under the guidance of the group headquarters" three.

First, "centralized" financial management mode. This mode of enterprise group, most of the financial power is concentrated in the parent company, the parent company of the subsidiaries to take strict control and unified management. Centralized features: financial management decision-making power is highly centralized in the parent company, subsidiaries only enjoy a small portion of the financial decision-making power, its people, property and supply, production and marketing unified control by the parent company, subsidiaries of the capital raising, investment, asset restructuring, loans, profit distribution, expenses, salaries and bonuses, financial personnel appointment and dismissal of major financial matters by the parent company unified management.

Second, "decentralized" financial management model. This mode of enterprise group, subsidiaries have full financial management decision-making power, and the parent company's management of subsidiaries to indirect management. Decentralized features are mainly manifested as follows: in the financial rights, subsidiaries in the capital integration, investment and use, financial income and expenses, financial personnel selection and dismissal, employee wages and benefits and bonuses, etc. have full decision-making power, and according to the market environment and the company's own situation to make greater financial decision-making; in the management of the parent company does not use directive planning to intervene in the production and operation of subsidiaries, but rather indirect management; in the business of the subsidiary group, the subsidiary company has full financial management decision-making power, while the parent company's management of subsidiaries is mainly indirect management. Indirect management; in business, encouraging subsidiaries to actively participate in competition to capture market share; in the interests of the parent company often tends to favor the interests of subsidiaries in order to enhance their strength.

Third, decentralized management under the guidance of the group headquarters. Absolute centralization and absolute decentralization is not, the decentralized management mode under the guidance of the group headquarters is to emphasize the decentralization of the basis of centralization, is a set of fund-raising, application, recovery and distribution in one, to participate in the market competition, bottom-up multilevel decision-making centralized mode. This model can play a group parent company financial regulation function, stimulate the enthusiasm and creativity of subsidiaries, but also effective control of operators and subsidiaries risk, is conducive to overcoming excessive centralization or decentralization of defects, is conducive to the integration of centralization and decentralization of the advantages of a lot of enterprise groups to pursue a relatively ideal model.