Financial Strategy and Financial Planning

The article considers approaches to the definition of strategic financial planning, reveals their shortcomings and advantages. Objective: To create a methodological basis for the development of the organization's financial strategy. Methodology: The article is based on the results of research of modern domestic and foreign theories of strategic planning. Application of the results: Increase the validity of the management decisions made based on the results of strategic financial planning. Conclusions: Strategic financial planning is proposed to be considered from the point of view of the system and process approach, which will allow to create an effective functional apparatus, including a system of goals and objectives, principles and tools for the formation and use of financial resources to carry out the activities on developing the directions of organization growth. The formed algorithm of developing a strategic financial planning model allows to take into account the organization’s life cycle stage and its market position in the industry when determining the target parameters of financial development in the long term perspective. An indicator of maximizing the return to capital represented by own and borrowed funds is proposed as a key indicator of the model under consideration. Complying with the set of limitations developed, this indicator provides a more reliable and comprehensive assessment of organization’s development planned directions.

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Strategies of financial behavior of Russians: Concept, dynamics, factors

Voprosy Ekonomiki ◽

10.32609/0042-8736-2021-10-71-88 ◽

2021 ◽

pp. 71-88

Author(s):

O. E. Kuzina ◽

D. V. Moiseeva

Keyword(s):

Higher Education ◽

Financial Planning ◽

Positive Relationship ◽

Planning Horizon ◽

Demographic Variables ◽

Demographic Characteristics ◽

Financial Behavior ◽

Financial Strategy ◽

One Year

The article presents the justification of the methodology for studying the strategies of financial behavior of the population, the dynamics of their prevalence in Russia in the period 2009—2020, as well as the assessment of the influence of socio-demographic variables on the probability of having a financial strategy in the household. The analysis of the data obtained from “Monitoring of the financial behavior of the population” for 2009—2020 has demonstrated that the financial planning horizon of the majority of Russians does not exceed one year, about 50% of Russians have long-term financial goals, and about 30% have strategies to achieve them. A positive relationship has been revealed with a number of socio-demographic characteristics that fit into the logic of the life cycle: age, presence of children, higher education and income.

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