Essence and content of the financial strategy of an organization
Under the influence of the dynamically changing economic environment of world financial markets the problems of the revision of goals and targets of a company are becoming more and more top priority under consideration of its top management and owners. The goals should be set in every sphere where the result is important. Usually it spoken about key spheres: of the financial activity and strategic planning. The achievement of financial goals is vital as the absence of financing can threat the activity of the company itself. One of the tools providing considerable support in the achievement of new goals is the financial strategy of an organization. In this article on the basis of the analysis of scientific papers in this topic an attempt is taken to show the essence and the content of the financial strategy of a company, to justify the place and the role of a financial strategy in the company's management, to show the peculiarities of the structuring of a financial strategy. As an example key priorities of the financial strategy of the Public company "Severstal" are given. The key priorities of the "Severstal" activity are: location of costs in the left side of the cost curve; net debt/EBITDA not lower that 1,5; dividends are at least 50%; profitability judging from EBITDA is about 20%; capital investments about $1 billion dollars per year; stable positive clean cash flow; client orientation and the achievement of the leadership in Russia in quality and service level. In the article it is mentioned that one of the indices of contemporary corporate finance is the changes of the orientation of financial management from the control over current operations on the financial strategies and ways of their implementation.