FEATURES OF FORMING AN EFFECTIVE COMPANY FINANCIAL POLICY AS FORM OF FINANCIAL STRATEGY IMPLEMENTATION

Author(s): Nazarenko Oksana Vladimirovna

Rubric: Economy

DOI: 10.21777/2587-554X-2020-1-37-45

Release: 2020-1 (32)

Pages: 37-45

Keywords: Financial policy, financial management, financial strategy, financial instruments, economic profit

Annotation: At present, the activities of Russian business are characterized by a complication of methods and forms of interaction between business entities, unpredictability of risks, and increased competition. In this regard, an increasing number of enterprises are realizing the need for conscious and effective management of financial activities. Financial policy is the most effective tool in the long-term management of the financial activities of the enterprise, which is subordinate to the implementation of the goals of its general development in modern conditions of significant changes in the macroeconomic nature and uncertainty. An effective financial policy of an enterprise should include not only financial support for the work of a business entity, but also the achievement of the economic interests of participants in a business transaction, the growth of well-being of the owners of the enterprise. Nevertheless, financial policy is influenced by the external and internal environment, which requires its goal-oriented and phased formation, as well as the implementation of financial measures by interacting with the procedural and technological elements of the strategic management system and its resource components. The development of an effective financial policy of the enterprise involves the construction of the most appropriate system of managing the financial resources of the organization, in order to achieve the goals of its functioning, which are expressed in maximizing profits, ensuring financial stability and investment attractiveness. The content of the article includes a description of approaches to the formation of a sustainable financial management system in an enterprise in a dynamically developing market, as well as key parameters for the implementation of an effective financial policy of the enterprise, which is now considered a complex and urgent problem. It is noted that the formation of an effective financial policy of an enterprise should be based on a whole range of tools, which include: tools for redistributing resources, attracting resources and preventing risks.

Bibliography: Nazarenko OK.VL. FEATURES OF FORMING AN EFFECTIVE COMPANY FINANCIAL POLICY AS FORM OF FINANCIAL STRATEGY IMPLEMENTATION // Economics and Management. – 2020. – № 1 (32). – С. 37-45. doi: 10.21777/2587-554X-2020-1-37-45