| With the development of China’s economy and the improvement of residents’ consumption level,leisure food has become an important part of people’s daily consumption expenditure.Based on China’s huge consumer population and purchase frequency,the overall market space of China’s leisure food industry is huge.Coupled with the development of the Internet,leisure food enterprises can sell through online channels and connect consumers more efficiently.However,because the production and manufacturing of snack food does not require difficult technology and the industry access threshold is low,the industrial concentration is not high,relatively scattered,and the competition is becoming more and more fierce.Nowadays,how to quickly occupy the market share,improve the rate of return on investment,create long-term value for enterprises,establish a business model in line with enterprise development,realize stable profit flow and maintain sustainable competitive advantage is particularly important for China’s leisure food enterprises.Asset-light operation mode refers to a business mode in which,under the condition of limited resources,enterprises invest less,leverage resources to leverage higher returns,and pay special attention to the high economic value-added links at both ends of the value chain,namely product R & D and sales services,so as to improve the core competitiveness of enterprises and create value for enterprises.Financial strategy belongs to the functional strategy of enterprise strategy,mainly including financing strategy,investment strategy and operation strategy.Its strategic goal is to make the enterprise cash be used effectively and circulate in a balanced way through the rational allocation of the enterprise cash flow,so as to ensure the sustainable profitability of the enterprise.This thesis selects Three Squirrels as the case study object,explores its financial strategy under the asset-light operation mode,and studies how its financial strategy ensures the implementation of the asset-light operation mode through the rational allocation of funds.On the one hand,combined with asset-light operation mode and financial strategy,this thesis studies and discusses the relationship between them,which plays a certain role in promoting the extension of the theoretical research of the combination of the two.On the other hand,this thesis explores the financial strategy under the asset-light operation mode of Three Squirrels,expounds the implementation content of the financial strategy,analyzes the implementation effect of the financial strategy through the financial performance,analyzes and summarizes the main effects and existing problems of the implementation of the financial strategy of Three Squirrels,summarizes the relevant experience and puts forward policy suggestions accordingly,This has a certain reference value for the production and operation of Three Squirrels and other similar enterprises.Firstly,this thesis expounds the research background and significance,and combs the relevant research of domestic and foreign scholars on asset-light operation mode and financial strategy.Then it introduces the relevant concepts and theories of asset-light operation mode and financial strategy,points out the evaluation method of financial strategy implementation effect under asset-light operation mode,and then deeply analyzes the financing strategy,investment strategy and operation strategy implementation content under the asset-light operation mode of Three Squirrels combined with the case background of asset-light operation mode content,motivation and financial strategic objectives of Three Squirrels.In terms of financing strategy,it analyzes the combination financing strategies such as endogenous financing,private equity,bank loan and commercial credit financing under the asset-light operation mode;in terms of investment strategy,it analyzes the investment in product R & D,"big alliance strategy" and industrial chain;in terms of operation strategy,it analyzes the operation strategy of outsourcing non-core business,balanced development of sales channels,paying attention to multi-channel marketing and constructing " 1 + N " multi brand matrix.Finally,this thesis reflects the implementation effect of financial strategy through financial performance,analyzes the key financial indicators and makes a horizontal comparison with Bestore,so as to evaluate the implementation effect of financial strategy of Three Squirrels under the asset-light operation mode.The analysis found that the main effects of the implementation of the financial strategy of Three Squirrels under the asset-light operation mode include diversified financing to ensure sufficient funds of the enterprise,asset-light investment to enhance the core competence of the enterprise,and paying attention to customer service to enhance the income generating ability of the enterprise.At the same time,through the analysis,it is also found that the implementation of the financial strategy of Three Squirrels under the asset-light operation mode has some problems,such as the ability to limit the amount of debt repayment by relying on commercial credit financing,the frequent quality problems of non-core business outsourcing,the impact of rapid expansion on the growth ability of enterprises and so on.Through the specific analysis and comprehensive evaluation of the implementation of financial strategy under the asset-light operation mode of Three Squirrels,this thesis draws the following experience:(1)paying attention to R & D investment can improve the core competitiveness;(2)the level of supply chain management is the key to enterprise profitability;(3)high traffic brand publicity significantly improves the influence of enterprises.At the same time,the following policy suggestions are put forward for the existing problems:(1)enterprises should actively broaden financing channels;(2)enterprises should pay attention to the quality management of OEM products;(3)enterprises should expand their industries reasonably.These experiences and suggestions can also enlighten other enterprises. |
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