In the information age, the key to any enterprise is to ensure its long-term development. To manage the long-term development of the enterprise, it is necessary to determine its mission and vision of its place in the market, formulate a market strategy on their basis.
The strategic management mechanism in its most general form is:
1. Development of a common development strategy and financial strategy as an integral part of it.
2. Translation of strategic goals into a system of directive operational indicators.
3. Monitoring the implementation of reported indicators.
4. Monitoring the market situation and changing the overall strategy.
The most common mechanism for implementing an organization’s strategy is the MTS - a balanced scorecard that includes a wide range of indicators that ensure long-term stability.
The use of non-financial indicators is determined by the need to manage such key strategic resources of the organization as customer loyalty, company reputation and employee knowledge.
In domestic practice, it is advisable to use profitability indicators determined by the specifics of the organization’s activities as financial indicators of strategic planning. For example, the profitability of the type of product, the profitability of the project, the amount of profit per employee, the amount of profit per square meter of retail space, the level of lending, etc.
In modern economic conditions, no business entity can operate exclusively at its own expense, therefore, there is a need to use borrowed funds to finance activities, which are state and municipal loans. In this regard, the task of financial management is to optimize the structure of credit and financial resources, i.e. determination of the most acceptable ratio between own and borrowed funds. The criterion of optimality may be the return on equity of the company, as an indicator that most fully reflects the goal of management. In practice, the greatest difficulty is the formation of credit resources, as their use is fraught with many difficulties: choosing a source of financing, evaluating profitability, reliability, etc. The most widespread today
Such types of loans as state and municipal loans. In the framework of managing the structure of financial resources, determining credit policy (which loan is preferable, a state loan of the Russian Federation or commercial), when determining managerial decisions on the directions and pace of development of an enterprise, choosing business projects for implementation, managers of business entities need information on the maximum amount of additionally attracted loan financing. The general approach is to determine the maximum amount of the loan payment, by comparing it with the basic conditions for the provision of borrowed financing, you can determine the maximum loan amount that ensures its subsequent painless return, taking into account the current capabilities of the organization. State credit in modern Russia makes it possible to replenish its resources for almost all participants in economic activity,
One of the options for solving this problem can be an express assessment of the amount of funds to be released in accordance with the basic plans of the enterprise. In addition, it is necessary to carefully evaluate which loan will be preferable for the company - commercial, state, and municipal loans or something else. It is necessary to evaluate existing payment obligations and repayment of borrowed funds, identify possible loan conditions and determine the maximum possible amount of loan payment, i.e., determine the credit limit.
When calculating the largest loan amount available for a subsequent painless repayment, it is necessary to take into account the estimated volumes of cash receipts for the coming period, the impact of loan servicing costs on the financial result, as well as the method of loan repayment. The calculations should be based on the following aspects:
- what type of loan do you use in the company: state, and municipal credit, or commercial;
- assessment of the balance of cash flows of the organization;
- calculation of the amount of interest for the loan throughout the entire period of use of the loan.
The basis of the repayment method in the organization is the development of a payment calendar that reflects the movement of money. The choice of repayment method affects the structure of payments and cash flows. So, with the spherical method of repayment, only interest is paid monthly, the main debt is paid at a time at the end of the loan agreement. This rule does not depend on whether you use a state or municipal loan, or a commercial one, it also has a positive effect on cash flows. If the organization chooses to repay the principal in equal installments, this will minimize the cost of servicing it, but will lead to a reduction in the term of use of the loan. Neutral in terms of impact on cash flows is the repayment of the loan by annuity payments. However, this method increases interest costs, which should be taken into account when developing a company development strategy.