Research On Financial Management Strategy Of Shandong Province's Weifang Department

With the continuous expansion of China's economy, different types of enterprises are playing increasingly important roles in the general national economy as well as promoting China's overall economic advancement. Good companies shall only survive and prosper with a tailor-made and sound financial management strategy, which shall in turn bring the best business performances of an enterprise and benefit the enterprise with good finance figures and results. To make a suitable finance management strategy is therefore, crucial, to enhance and promote the economic performances of an enterprise in the long run. Currently, however, the retailing suffers quite a setback with the rapid development of ecommerce; and this article, namely “A Research on Financial Management Strategy of Shandong province's Weifang Department group” aims to address to and help to solve different challenges in terms of financial management strategies faced by various retail companies, in view of the forms and development stages as well as the financial management status of the current retail industries.This article is mainly focused on the financial management strategy analysis of the Retailing of Weifang Department group in the rapid-changing business environment of this industry. Firstly, it sorts outs among a variety of domestic and international literatures on financial strategic management to provide background information on this specific study using documentary and relative analysis. A profound understanding of the strategic management theories and related finance management strategies, such as the concept and connotation of financial management strategy through different business literatures, have helped to shed lights on the theoretical basis of this study. Secondly, the SWOT analysis is mainly adopted to analyze the financial and competition situations faced by Weifang Department group in its current business environment. In addition, the principal component analysis is also implemented to view the status quo of the various challenges to the different business sections of the retail company. The financial management strategy for Weifang Department group is then formed based upon the results of all the aforesaid analysis. In the meantime, a series of protection methods are also developed to guarantee the successful implementation of these strategies. In the end, a summary is made regarding all the analysis results involved in this study.From the theoretical perspective, this study might find its peers conducted by scholars who did focus on study of systematic financial management strategy domestically, say empirical research on a specific company, yet is still rare as a subject involving analysis between specific finance management strategy and its related daily business situations as well as providing corresponding business solutions in terms of finance strategies. Based upon this study, it is strongly advised that a company shall always focus on facing and tackling its existing issues and problems, either with the finance management or with the current operations of different business sections, which shall in turn provide efficient data support for adjusting its finance management strategy. As far as the Weifang Department group is concerned, with the detailed analysis of its finance management and operation practices of different business sections, an enhanced finance management strategy is implemented to strengthen the overall control over the business management and to ensure a rapid yet sustained development of the company.