News

At the beginning 70th of the ХХ century base definition by Chandler was modified by K. Andrewwho added item authentication of four constituents: market possibility of firm; general competence and resources of firm; own values and aspirations of firm; confirmed obligations to the society.

Strategy of financing as type of activity «includes determination of aims of the use of financial resources and capital, methods of financing, sentinel descriptions, levers and receptions of traffic control of financial resources and capital, determination of «strategic set» (how the structures of specific financial strategies are), and also financial planning and development of the special plans.

More information

Market transformations of the modern economy enable speaking about the necessity of high-quality and quantitative changes in approaches to forming not only short-term aims and plans of conduct of business (especially in the bank), but also about perfection of methods of the strategic planning, update of approaches of domestic banks to forming of financial strategy as fundamental principle.

Like methods which lean against the exceptional observance of the planned indexes and conservative approach to the financial management of bank, adequate answers are not given for the reality of the banks’ market, especially towards expectations of users and actions of competitors.

Above all things, it is necessary to define what a financial strategy as a concept is. On that score specialists-economists and leading theorists of strategic and financial management express different opinions; thus determinations mostly are mutually determined or complement the point of view of other researchers, although there are the exceptions.

Strategic mission

The mission of bank is a next constituent of conception-ideological direction. A mission is a purpose, for the sake of which organization is and which is planned to implementation during a certain period; it is the briefly expressed philosophy of company, that is to formulate essence of basic business and uniqueness of services, customer relationship, shareholders and state (key-clients; products; channels; state; shareholders; values). A mission is a base, by a foothold for activity of organization and helps to concentrate effort of workers on realization of select direction, because the drawn up clearly and promulgated mission and conception of existence and development of bank is instrumental not only in the increase of trust of present and potential partners and clients but also promotes internal motivation and loyalty of employees of bank. Economic terms, clients of bank, change in course of time, and bank; from it there can be the necessity of update of mission (the top management costs to look over a mission every 2 - 3 years). Some members of Guild of investment and financial analysts, recommend connecting a short slogan, that enables unequivocally to outline basic direction of actions of bank, with more detailed text of conception of development. That what experts offer as an example is the following formulation of mission of universal bank: "Bank: it is instrumental in becoming and development of enterprises of all patterns of ownership; supports development of entrepreneurial activity of citizens; guarantees to the clients skilled bank service at the level of international standards; gives all possibilities for business partnership in different countries of world; assists to development and saving of economies of population; operates in severe accordance with the legislation".

Noble metal


	Web http://www.banks-strategy.com/