Business Planning: Analyze the Financial Plan Strategically
Posted: Mon Jan 20, 2025 4:30 am
Financial analysts who pursue a career in finance often tend to view their department as a kind of starting point for the business. When, in fact, this area is the result of the actions taken by the company over time. After all, financial results reflect the past and do not necessarily dictate the future.
Therefore, the finance professional who wants to make his/her work strategic within the company faces the challenge of understanding the business context.
Having knowledge about what the company produces, who its venezuela whatsapp data ompetitors are, what its business model is and how it generates value are essential points to build a perception of the business. It is from this aspect that your performance as a finance specialist becomes relevant, regardless of the position.
An accurate analysis in budget planning with a focus on the company's strategy
The first step in carrying out a financial analysis with a strategic bias is to interpret the results from a business perspective.
When a company needs to cut costs, it is important, for example, to try to do an exercise that goes beyond numerical calculations.
In the case of a telemarketing company, it is worth mapping the elements that generate value for the company's customers. It is essential to make decisions that do not compromise customer satisfaction.
If one of the points that classifies a telemarketing company positively is the speed and quality of information, it may not be advantageous to reduce investment in technology and in the qualification of attendants. However, it is possible to identify other internal costs that are not reflected in the services offered to the customer.
This is an analysis exercise that should be practiced constantly by the finance professional , as it leads to the development of a vision that will be fundamental for management accounting.
The company's analysis and knowledge process can be supported by the use of the Balanced Scorecard (BSC) , which allows for strategic visions based on financial indicators and internal learning and growth processes, taking into account quality management and the business itself.
Another concept that can be used to add value to financial analysis is understanding the company's value chain. This can be done by applying the Blue Ocean strategy , which emphasizes that in order to differentiate itself in the market, a company must focus on making its competitors irrelevant and invest in strategies that generate value for its customers and, consequently, for the business.
Therefore, the finance professional who wants to make his/her work strategic within the company faces the challenge of understanding the business context.
Having knowledge about what the company produces, who its venezuela whatsapp data ompetitors are, what its business model is and how it generates value are essential points to build a perception of the business. It is from this aspect that your performance as a finance specialist becomes relevant, regardless of the position.
An accurate analysis in budget planning with a focus on the company's strategy
The first step in carrying out a financial analysis with a strategic bias is to interpret the results from a business perspective.
When a company needs to cut costs, it is important, for example, to try to do an exercise that goes beyond numerical calculations.
In the case of a telemarketing company, it is worth mapping the elements that generate value for the company's customers. It is essential to make decisions that do not compromise customer satisfaction.
If one of the points that classifies a telemarketing company positively is the speed and quality of information, it may not be advantageous to reduce investment in technology and in the qualification of attendants. However, it is possible to identify other internal costs that are not reflected in the services offered to the customer.
This is an analysis exercise that should be practiced constantly by the finance professional , as it leads to the development of a vision that will be fundamental for management accounting.
The company's analysis and knowledge process can be supported by the use of the Balanced Scorecard (BSC) , which allows for strategic visions based on financial indicators and internal learning and growth processes, taking into account quality management and the business itself.
Another concept that can be used to add value to financial analysis is understanding the company's value chain. This can be done by applying the Blue Ocean strategy , which emphasizes that in order to differentiate itself in the market, a company must focus on making its competitors irrelevant and invest in strategies that generate value for its customers and, consequently, for the business.