Research On The Reform And Innovation Of Mengniu 's Financial Management System

Today, information and network technology as the core of the third science and technology Revolution, has been disruptively changing the economic form and growth mode which formed by the Industrial Revolution. And the result generates reduced time and space and transaction costs and in return makes the business environment changing dramatically. Competition among enterprises no longer lie in traditional marketing, financial, brand or human resources, but the mode and management system.In order to grasp the initiative in change, an enterprise has to establish an effective management system so as to have the ability to cope with the changing environment for the future development. The financial management system is an important part of enterprise management system. Establishment of a scientific financial management model which suitable for development of the company is a powerful tool to help companies achieving strategic transformation.In this paper, basing on the advanced financial management theory and research methods proposed by the domestic and foreign experts, combining Mengniu Group’s development strategies, we have established a cutting-edge financial management system which suit the current macroeconomic environment, and lead development of enterprises.Establishment of financial management system should be based on the financial organization transformation.and the organizational changes should match the mode of enterprises operation and strategic goals. According to "systems theory" and other theories,we established an "inverted triangle" financial organization model. The finance department is divided into four sections:business finance, professional finance, sharing finance and strategic finance,so that the financial process become more professional.According to coupling theory, financial groups need to unite in positive interaction, interdependence, mutual coordination and promote each other, and interact with the users of finance. But the most important thing is definition of each financial cooperative manner among these inter-ethnic groups.Inspired by this theory, The Mengniu finance department has established a brand new financial management system which is an integration of finance and operations, centraliztion of financial accounting, professionalization of financial management.This study incorporates several advanced domestic and foreign financial concepts, including financial shared services center, business finance, financial market value management, strategic finance undertaking corporate strategy.Many new ideas and methods have been applyied in Mengniu group and make them perfect, so as to enhance the overall level of domestic financial management, and enrich empirical results of the Group’s financial management-related cases study fields.