• support@bizmanualz.com
  • Home
  • Contact Us
  • About Us
  • Help
  • My Account
Policies and Procedures SOP Manual Template WordPolicies and Procedures SOP Manual Template WordPolicies and Procedures SOP Manual Template WordPolicies and Procedures SOP Manual Template Word
  • Policy
    Procedure
    Manuals
    • CEO 9-Manual Set-45% Off
    • CFO 5-Manual Set-34% Off
    • Policy Procedure Software
    • Accounting Manual
    • Finance Manual
    • IT Policy Manual
    • HR Policy Manual
    • Sales Marketing Manual
    • ISO 9001 Quality Procedures Manual
    • AS9100 D Quality Procedures Manual
    • ISO 22000 Food Safety HACCP Manual
    • Production Operations
    • Medical Office Procedures
    • Nonprofit Procedures
    • Construction Procedures
  • Document
    Management
    Software
    • Product & Benefits
    • OnPolicy Software Overview
    • On-Policy – 30-Day Free Trial
    • Testimonials
    • Resources
    • Subscribe to OnPolicy
    • Software, Procedure Manual Bundle
    • OnPolicy Help Introduction
  • Free
    Procedure
    Samples
    • Free Sample Policies and Procedures Template
  • How To
    Business
    Articles
    • Save Time Writing Procedures
    • Write Better Policies
    • Writing Procedure Manuals
    • Write Better Procedures
    • Strengthen Your Financials
      • Set Better Objectives
      • Tighten Accounting Controls
      • Improve Company Governance
      • Simplify Compliance
    • Improve Quality
      • Obtain ISO Certification
      • Make a Process Map
      • Implement ISO Quality
      • Improve Quality
      • Improve Management Systems
      • Increase Customer Satisfaction
      • Make Your Business Lean
      • Making Change Easier
    • Solve Business Problems
      • Organize Your Business
      • Business Startup
      • Be a Better Boss
      • Empower Employees
      • Grow Your Business
      • Find Business Improvements
      • Increase Innovation
    • Improve Business Processes
      • Better Sales and Marketing
      • Better Project Management
      • Improve Business Communication
      • Improve Internet Marketing
      • Improve Your Hiring Process
      • Improve Your Social Media
      • Improve Your Training
      • Improve Employee Health and Safety
      • Better Disaster Security Planning
    • Leverage Technology
      • Automate Policy Management
      • Improve Your Social Media
      • Increase Productivity
      • Analyzing Business Data
  • Lean ISO
    Consulting
    Training
    • Improve Your Training
    • Customer Testimonials
    • ISO 9001:2015 Classes | Internal Auditor Training St Louis MO
    • ISO 9001:2015 Classes | Lead Auditor Training St Louis MO
    • ISO 9000 Help | Lean Consulting Training St Louis MO
    • ISO Writer | Writing Policies and Procedures Training Class
    • Lean Training Class St Louis MO
    • FREE Quality
      Audit* Offer
0

How to Use Financial Strategies for Business Success

Categories
  • Strengthen Your Financials
Tags
  • business success
  • financial control
  • financial strategies
  • planning
  • strategy
Financial Strategies

There were two things at the heart of the financial crises: the sub-prime home lending fiasco (with the bad loans then bundled into investment securities) and the use of credit default swaps that had organizations falling like dominoes once bad mortgage loans started taking some institutions down. How can you make sure your company succeeds? One way is using financial strategies for business success.

No Financial Strategy Means a Strategy for Failurefinancial strategies for business success

Do you think the organizations handing out bad loans, buying securities of bundled bad loans, and selling credit default swaps had well-thought out financial strategies for business success?

Strategy Management Incorporates Goals, Environment, and Risks

A clear strategy and plan not only incorporates goals and the activities needed to reach these goals, but it also addresses risks. Obviously, the risk of handing out loans for hundreds of thousands of dollars without improper due diligence and transparency was not accounted for in managing the financial strategies of these organizations.

Having no strategy is really the equivalent of having the worst possible strategy. The same concept moves right up the chain from the mortgage sellers to the investment banks who were buying and selling credit default swaps that they couldn’t cover, and to investors who were buying bundled securities that turned out to be worth less because the real value was indeterminable.

  • CFO Responsibilities Financial Accounting Procedures

    5-Manual CFO Internal Control Procedures Bundle| Save 34%

    Rated 4.64 out of 5
    $ 1,695.00 $ 1,497.00
  • Accounting Policy Procedure Manual MS-Word Template

    Accounting Policies and Procedures Manual

    Rated 4.50 out of 5
    $ 495.00 $ 397.00
  • Finance Policy Procedure Manual

    Finance Policies Procedures Manual | ABR42M

    Rated 4.20 out of 5
    $ 495.00 $ 347.00

Business Success Takes Planning

Conversely, you can find examples of businesses in the financial industry where a well-thought out strategy prevented them from being another victim of the financial crises. Perhaps the most visible is Bank of America. Executives at this institution say that they made a conscious decision about fifteen years ago not to get involved with the sub-prime loan market. They just didn’t see how lots of risky loans fit their long term financial strategy. Risky loans to people who can’t ever pay them back is indeed a recipe for disaster. Now, while so many other financial businesses are facing catastrophe, Bank of America is strong enough financially to grow by snapping up bargains. Recent acquisitions include well-known organizations like Merrill-Lynch, MBNA, and Countrywide Mortgage.Project Planning

Anyone who has ever watched It’s a Wonderful Life knows that the best time to buy is when others are panicking, selling and scrambling for Loans . But, of course, you have to be in a position to buy; and that is usually the result of a well-thought out and managed financial strategy. How important is a clear financial strategy? Apparently it can mean the difference between growing your business and going out of business.

Financial Strategies are the Starting Point of Internal Control

For strategies to be effective, however, they have to be communicated and implemented throughout the organization. That means operations in various departments at various levels have to create their own strategies and plans that align with, and execute, top level strategies. This is accomplished though training, policies, procedures, and implementing best practices – an excellent starting point for internal control.

Most businesses cannot survive on a good financial strategy alone. A good financial strategy, for example, doesn’t mean much to a business without customers. So thoughtful strategies must be created and implemented across the balanced scorecard: finance, customers, internal processes, and learning and growth.

Using Financial Strategies For Business Success

There are never any guarantees for business success, but creating financial strategies gives your business direction and guidance. Without that, there is no telling where you will end up. Perhaps owned by Bank of America. Don’t let that be you, take into consideration everything you’ve learned about using financial strategies for business success.

Download Free Sample Financial Procedure Templates to see how easy it is to edit MS Word Templates to build your own policy and procedure accounting management system.

More Articles from Bizmanualz...

  • How to Develop Financial Performance ObjectivesHow to Develop Financial Performance Objectives
  • How to Use Action Planning to Achieve Your VisionHow to Use Action Planning to Achieve Your Vision
  • How Vision and Strategy are RelatedHow Vision and Strategy are Related
  • How Do You Create a Profitable Amazon Marketing Strategy?How Do You Create a Profitable Amazon Marketing Strategy?
  • Why are Setting Goals and Smart Objectives Important?Why are Setting Goals and Smart Objectives Important?
  • What is an Example of a Social Media Strategy?What is an Example of a Social Media Strategy?
  • How Do You Build a Good Business Strategy?How Do You Build a Good Business Strategy?
  • How Do You Manage Business and Personal Finances?How Do You Manage Business and Personal Finances?
  • What Comes After Lean Manufacturing?What Comes After Lean Manufacturing?
  • What is the Best Small Business SEO Strategy?What is the Best Small Business SEO Strategy?
Share

1 Comment

  1. Myo Thaw Khaing says:
    November 14, 2019 at 11:09 pm

    I will try to use it.
    I think it may useful for practice.
    Thanks for your sharing.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Products

  • AS9100 D Quality Procedures Manual AS9100 Quality Procedures Manual Rev D | ABR217M Aerospace Quality Procedures Manual $ 395.00 $ 297.00
  • Accounting Policy Procedure Manual MS-Word Template Accounting Policies and Procedures Manual
    Rated 4.50 out of 5
    $ 495.00 $ 397.00
  • Human Resources HR Policy Procedure Manual HR Policies and Procedures Template | ABR41M
    Rated 3.89 out of 5
    $ 495.00 $ 347.00
  • Sales Marketing Policy Procedure Manual Sales Marketing Policies and Procedures Manual | ABR44M
    Rated 4.00 out of 5
    $ 495.00 $ 347.00
  • Finance Policy Procedure Manual Finance Policies Procedures Manual | ABR42M
    Rated 4.20 out of 5
    $ 495.00 $ 347.00
  • it standard operating procedures IT Policies and Procedures Manual
    Rated 4.40 out of 5
    $ 495.00 $ 397.00
  • Security Policy Procedure Manual Security Policies and Procedures Manual $ 395.00 $ 297.00
  • Disaster Recovery Policy Procedure Manual Disaster Recovery Planning Manual
    Rated 4.00 out of 5
    $ 395.00 $ 297.00
  • ISO 9001 Procedures ISO 9001 2015 Procedures | ABR211M
    Rated 4.60 out of 5
    $ 495.00 $ 347.00
  • ISO 22000 Food Safety Procedures Manual ISO 22000 Food Safety Procedures Manual | ABR213M
    Rated 3.83 out of 5
    $ 395.00 $ 197.00
 Free Sample Policies Procedures

automation blog brand identity business business process communication compliance Covid customer cybersecurity data data analytics digital marketing Ecommerce email employee finance hiring internet marketing ISO 9001 lean management marketing metrics online policies policy procedures process productivity project management quality remote work risk security SEO social media software startup strategy team technology tools website writing

Get to Know Us

About Bizmanualz

Our Customers

Our Contributors

Featured Products

Business Manual Products

Free Policies and Procedures

Privacy Policy

FAQs

Risk Free Guarantee

Process Improvement

Contact Us

Top Business Blog Posts

What is a Procedure?

What are Policies and Procedures SOPs?

What is the Purpose of a Procedure Manual?

What is the Difference Between Policies and Procedures?

How to Create a Standard Operating Procedure

What are the Top 10 Core Business Processes?

Are Procedures the Same as Work Instructions?

What Business Policies Does Every Company Need?

How to Start Writing Policies and Procedures

Business Procedures

Accounting Manuals Template

Finance Procedures

HR Procedures

IT Policies and Procedures Templates

Sales Marketing Procedures

Quality Assurance Policy Statement and Procedures

Medical Office Procedures

Employee Handbook Manual

Aerospace Procedures

Food Safety Procedures

Security & Disaster Plans

Production Procedures

Procedure Writing Guide

Featured Manuals

  • Alt Text CEO Bundle and Document Management Software Package $ 2,495.00 $ 1,857.21 one time, and
    $ 990.00 / year
  • St. Louis ISO auditor training class ISO 9001:2015 Classes | Lead Auditor Training St Louis MO $ 2,395.00 – $ 3,270.00
  • Standard Operating Procedures (SOP) 9-Manual CEO Company Policies and Procedures Bundle | Save 45%
    Rated 4.23 out of 5
    $ 2,495.00 $ 1,997.00
  • CFO Responsibilities Financial Accounting Procedures 5-Manual CFO Internal Control Procedures Bundle| Save 34%
    Rated 4.64 out of 5
    $ 1,695.00 $ 1,497.00
  • AS9100 D Quality Procedures Manual AS9100 Quality Procedures Manual | ABR217M Aerospace Quality Procedures Manual $ 595.00 $ 499.00
Copyright ©1999-2022 Bizmanualz, Inc. All Rights Reserved | Sitemap | Privacy Policy
0
  • Home
  • Contact Us
  • About Us
  • Help
  • My Account
Go to mobile version