Research On Working Capital Management And Performance Of Animal Husbandry Enterprises From The Perspective Of Diversification Strategy

At present,under the dual influence of the impact of the new crown epidemic and the continuous increase of downward pressure on the domestic economy,my country’s animal husbandry enterprises are facing a new test of transformation and upgrading due to their poor ability to resist risks,and the implementation of the diversification strategy has become a common s Choice.Many animal husbandry enterprises have enhanced their economic strength through the implementation of the diversification strategy,but on the other hand,the implementation of the diversification strategy also puts forward higher requirements for the management of the working capital of the enterprises.Due to the differences in business operation models and capital turnover patterns between different industries,it may often lead to poor capital management in new business areas,and the enterprise group will suffer greater economic losses.Working capital management connects all aspects of business operation and affects the entire process from input to output.The management of working capital plays an important role in the implementation of its diversification strategy.From this point of view,how to fully combine the implementation of diversification strategy with the management of working capital has become a new research proposition.In view of this,this paper tries to introduce the important variable of diversification strategy,explores the influence mechanism of diversification strategy on working capital management,and tries to find out the existing problems in working capital management in the process of implementation of diversification strategy of animal husbandry enterprises through performance evaluation analysis.Problems and loopholes,and then put forward corresponding improvement countermeasures,has important theoretical and practical significance.Based on information asymmetry theory,investment portfolio theory,resource surplus theory,and working capital management theory,this paper uses the method of combining theory and case study,taking TECON as the research object,and analyzes animal husbandry enterprises from the perspective of diversification strategy.working capital management issues.The article firstly sorts out the literature of domestic and foreign scholars on the content of working capital management,the influencing factors of working capital management,the path and method of working capital management,the performance evaluation of working capital management,and the impact of diversification strategy on financial management,and summarizes and comments;Secondly,it defines the concepts of working capital,working capital management,working capital management performance and diversification strategy;then,taking TECON as the research object,it analyzes the effect of diversification strategy on working capital from vertical and horizontal perspectives.The impact mechanism of management and the performance evaluation results of working capital management from the perspective of diversification strategy,and the problems existing in the management of working capital in animal husbandry enterprises are discussed according to the analysis results.The conclusion of this paper is drawn,and the research deficiency is prospected.Through analysis,this paper draws the following conclusions: First,the strategic arrangement of working capital management needs to be considered from a long-term perspective,making it in line with the development goals of the enterprise and the direction of national policies,and integrating the two factors with the working capital management strategy;second,diversification While the strategy brings performance growth and company value enhancement to the enterprise,it is also accompanied by certain risks;third,animal husbandry enterprises need to maintain a scientific and reasonable working capital structure to resist various uncertain risks;fourth,animal husbandry enterprises To ensure the effective implementation of the diversification strategy,working capital management needs to take into account the balance of economy,efficiency,effectiveness,safety and other dimensions.