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What are the different types of Finance Strategies?

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Minal

Finance Strategy defines the way in which the company manages, monitors, and utilizes capital resources for its growth. It includes the quality of systems and skills for accounting, budgeting and financial management, cash and credit management, control over purchasing and inventory, access to capital.

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  • Determine if our company is exploring and taking advantage of every conceivable source of finance to make our business grow.
  • Determine what can be done to improve accuracy and timeliness of accounting so that information on performance is available as soon as possible after the day, week, the month or the job is over.
  • Determine how our company can utilize financial information as a positive instrument for tracking and monitoring performance on key activities.
  • Determine what type of indicators we can develop as positive motivating tools to help managers and employees evaluate their own performance.
  • Determine the key areas in which the company can save money by improving performance.
  • Determine what can be done to raise performance in those areas.
  • Determine what can we do to generate a more positive attitude in our company regarding the way money is used to motivate employees and vendors?
  • Keep expenditure within or below budgeted levels.
  • “Attract” money to us - by immediately implementing cleanliness & organizing work to the next highest level; and by managing our finances better (This can invoke a response and make money come to us.). Review some personal growth; “inner strategies” that can help you attract money

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