企业战略管理外文翻译文献
企业战略管理外文翻译文献(文档含中英文对照即英文原文和中文翻译)企业战略管理与战略管理会计探析中英文翻译Strategic management and strategic management accounting literature translation in both Chinese and English[论文关键词]战略管理会计企业战略内容方法[key words] strategic management accounting strategy content method [论文摘要]战略管理会计是当今企业经营环境更加复杂多变、全球性市场竞争空前广泛激烈的情况下，为满足现代企业实施战略管理的特定信息需要而建立的新的管理会计信息系统。
本文从战略管理会计的内涵、目标及特点阐述到战略管理会计的主要内容和方法对战略管理会计进行论述。
/ paper pick to strategic management accounting is the enterprise management environment is more complex, an unprecedented high competitive global market, to meet the modern enterprise to implement strategic management specific information need and establish a new management accounting information system. This article from connotation, goals and characteristics of strategic management accounting to the main content of strategic management accounting and methods of strategic management accounting in this paper.一、从企业战略的高度来看战略管理会计One, from the perspective of the height of business strategy, strategic management accounting1981年，英国学者西蒙斯最早将管理会计与战略管理相结合，提出战略管理会计之说。
战略管理会计是明确强调战略问题及相关重点的一种管理会计方法，是一种外向型和具有长远意义的管理系统。
它站在战略的角度上，以企业价值最大化为最终目标，旨在帮助企业管理层从长远利益出发，科学地审视、分析企业的经营现状，持续地降低企业经营成本，并把握各种潜在机会，回避可能的风险，从而最大限度地增加企业盈利能力和价值创造能力。
依据战略管理会计，企业管理者必须根据本企业自身情况，以市场为导向，从长远利益出发，全方位地制定动态的战略战术，才可避免企业经营中出现的成本浪费现象，时时为企业注入新鲜的活力，使企业保持长久的竞争优势。
战略管理会计首先要协助高层管理者制定战略目标。
企业的战略目标可以分为三个层次，即公司战略目标、竞争战略目标、职能战略目标。
战略管理会计要从企业外部和内部收集各种相关信息、运用战略管理会计进行系统分析，以此为基础提出各种可行的战略目标，供企业管理当局决策时参考。
In 1981, the British scholar simmons first combines the management accounting and strategic management, strategic management accounting. Strategic management accounting is the focus of the clear emphasis on strategic issues and related a method of management accounting is a kind of extroversion and long-term significance to management system. It stand on the strategic point of view, to the enterprise value maximization as the ultimate goal, to help corporate management from a long-term interests, scientific examination, analysis enterprise management present situation, continue to reduce enterprise operating cost, and grasp all kinds of potential opportunities, to avoid possible risks, so as to maximize the enterprise profit and value creation ability. According to the strategic management accounting, enterprisemanagers must according to the enterprise itself situation, take the market as the guidance, from the long-term interests, set up a comprehensive dynamic strategy and tactics, and to avoid waste in the enterprise management of cost, constantly inject fresh vitality for the enterprise, make enterprise keep long-term competitive advantage. Strategic management accounting to assist the top managers set strategic goals in the first place. Enterprise strategic objectives can be divided into three levels, namely the company strategic target, competition strategy, functional strategy goals. Strategic management accounting to collecting all kinds of relevant information, from the external and internal use of strategic management accounting systems analysis, on this basis, proposed various feasible strategic goal, for enterprise management decision-making reference.二、战略管理会计的目标及特点Second, the target and characteristics of strategic management accounting（一）战略管理会计的目标(a) strategic management accounting goal传统管理会计的最终目标是利润最大化，利润最大化虽然能够使企业讲求核算和加强管理，但是，它不仅没有考虑企业的远景规划，而且忽略了市场经济条件下最重要的一个因素风险。
为了克服利润最大化的短期性和不顾风险的缺陷，战略管理会计的目标应立足于企业的长远发展，权衡风险与报酬之间的关系。
企业价值是企业现实与未来收益、有形与无形资产等的综合表现。
因此，企业价值最大化也就是战略管理会计的最终目标。
战略管理会计的具体目标主要包括以下四个方面：（1）协助管理当局确定战略目标；（2）协助管理当局编制战略规划；（3）协助管理当局实施战略规划；（4）协助管理当局评价战略管理业绩。
Traditional management accounting's ultimate goal is profit maximization and profit maximization while can make the enterprise accounting and to strengthen management, however, it does not take into account not only the enterprise's vision, and ignored the market economy under the conditions of one of the most important risk factors. In order to overcome the profit maximization of short-term and regardless of the risk of defects, the goal of strategic management accounting should be based on in the long-term development of the enterprise, the relationship between the trade-offs between risk and reward. Enterprise value is the enterprise reality and future benefits, tangible and intangible assets such as comprehensive performance. Therefore, the enterprise value maximization is the ultimate goal of strategic management accounting. Strategic management accounting of the specific target mainly includes the following four aspects: (1) to assist management authorities determine strategic goals; (2) to assist management authorities prepare strategic plan; (3) to assist management authorities to implement strategic planning; (4) to assist management authorities evaluation strategy management performance.（二）战略管理会计的特点(2) the characteristics of the strategic management accounting与传统管理会计相比，战略管理会计具有以下特点。
战略管理经典文献
1. A Resource-Based View of the Firm2.An appreciation of industrial dynamics产业动态升值3.Corporate Diversification公司多元化4.Dynamic capabilities and strategic management动态能力与战略管理5.Dynamic capabilities-what are they动态能力- 它们是什么6.Economic analysis and strategic management7.Evolving Strategic Behaviors through Competitive Interaction不断发展的战略，通过竞争互动行为8.Strategy,Value Innovation and Knowledge Economy战略，价值创新与知识经济9.The Core Competence of the Corporation公司的核心竞争力10.Toward Knowledge-based Theory of Firm1.How Does Knowledge-based Interaction Affect Relationship Strategy2.Innovative management-A conversation with Gary Hamel and Lowell Bryan3.Integrated strategy Market and nonmarket components4.Is the resource-based view a useful perspective for strategic management research Yesanizational strategy, structure, and process6.Reflecting on the strategy process7.Strategy Innovation and the Quest for Value8.The Cornerstones of Competitive Advantage- A Resource-based View 竞争优势- 基于资源观的基石9.The resource-based view of the firm Ten years after 1991 公司十多年的1991年以后的资源基础观10.Three Responses to the Methodological challenges of studying strategizing 三个反应方法研究策略的挑战1. Arriving at the high-growth firm2. Corporate Strategy - A Manager's Guide3. Game Theory and Industrial Organization4. Hidden flaws in strategy (McKinsey Quarterly)5. The five competitive forces that shape strategy6. Ownership structure and the strategic decision 股权结构和战略决策7. Strategic management and economics8. The core's competence 核心竞争力9. Theory and research in strategic management 战略管理的理论10. Towards a dynamic theory of strategy 动态战略管理1．A fresh look at Strategy under UnCertainty - an interview2．A historical comparison of resourced-based theory and five schools of thought within industrial organization economics 资源基础理论和五个学派的历史比较3. An evolutionary perspective on strategy-maling in organization theory,comparative analysis ,research directions 4．An examination of the 'sustainable competitive advantage ' concept ——past,present and future 可持续的竞争优势的概念,过去、现在和未来5．An incremenatal approach to strategic change6．Assessing core intangible resources7．Building Your Company's Vision8．Cognitive change, strategic action and organizational renewal9．Comparative Strategy Process Research -a methodological approach 比较战略过程研究——方法论的方法10．Competing for the Future1．Competing On Resources - Strategy In The 1990s2．Competitive Advantage-Logical And Philosophical Considerations 竞争优势- 逻辑与哲学思考3．Crafting Strategy4．Firm Resources and Sustained Competitive Advantage 公司资源与持续竞争优势5．First-Mover Advantages6．From Competitive Advantage to Corporate Strategy 从竞争优势到企业战略7．Industrial ecology as a strategic instrument for sustainability8．Is The Resource-Based View A Useful Perspective For Strategic Management Research9．Strategic intent 战略目的10．Strategy and the internet - Michael Porter 战略和互联网1．Strategy as ecology 战略生态学2．Strategy as Revolution3．The Dynamics of Diversification4．The fall and rise of strategic planning5．The resource-based theory of competitive advantage - implications for strategy formulation以资源为基础的竞争优势理论- 对战略制定的影响6．The Strategic Analysis of Intangible Resources7．Time—The Next Source of Competitive Advantage8．Using Game Theory To Shape Strategy 博弈论塑造战略9．Strategic intent 10．What Is Strategy。
企业战略管理外文翻译文献
企业战略管理外文翻译文献(文档含中英文对照即英文原文和中文翻译)企业战略管理与战略管理会计探析中英文翻译Strategic management and strategic management accounting literature translation in both Chinese and English[论文关键词]战略管理会计企业战略内容方法[key words] strategic management accounting strategy content method [论文摘要]战略管理会计是当今企业经营环境更加复杂多变、全球性市场竞争空前广泛激烈的情况下，为满足现代企业实施战略管理的特定信息需要而建立的新的管理会计信息系统。
本文从战略管理会计的内涵、目标及特点阐述到战略管理会计的主要内容和方法对战略管理会计进行论述。
/ paper pick to strategic management accounting is the enterprise management environment is more complex, an unprecedented high competitive global market, to meet the modern enterprise to implement strategic management specific information need and establish a new management accounting information system. This article from connotation, goals and characteristics of strategic management accounting to the main content of strategic management accounting and methods of strategic management accounting in this paper.一、从企业战略的高度来看战略管理会计One, from the perspective of the height of business strategy, strategic management accounting1981年，英国学者西蒙斯最早将管理会计与战略管理相结合，提出战略管理会计之说。
企业可持续发展战略研究论文中英文外文翻译文献
企业可持续发展战略研究论文中英文外文翻译文献文献1：Sustainable Development Strategies for Businesses该研究论文介绍了企业可持续发展战略的重要性以及相关的实施策略。
可持续发展不仅关注经济利益，还需兼顾社会和环境的利益。
本文提出了几种实施可持续发展战略的方法，包括资源管理、供应链管理和利益相关者合作。
企业应该采取综合性的战略，以确保其经营活动对社会和环境带来积极影响。
文献2：The Role of Corporate Governance in Sustainable Development该文献探讨了公司治理在可持续发展中的作用。
有效的公司治理可以确保企业在经济、社会和环境层面上实现可持续发展目标。
文章讨论了几个与公司治理相关的因素，包括股东权益保护、透明度和问责制。
作者强调了公司治理在促进可持续发展中的重要性，并提出了一些改善公司治理的建议。
文献3：Innovation Strategies for Sustainable Development该研究论文研究了创新战略在可持续发展中的作用。
创新可以推动经济发展，并帮助解决环境和社会问题。
本文提出了几种创新策略，包括技术创新、商业模式创新和社会创新。
作者认为，企业应该将创新作为实现可持续发展的关键策略，并呼吁政府和社会各界提供支持。
文献4：The Importance of Stakeholder Engagement in Sustainable Development该文献强调了利益相关者参与在可持续发展中的重要性。
利益相关者包括员工、股东、政府、社区和其他利益相关的组织。
作者认为，企业应该积极参与利益相关者，并尊重他们的权益和意见。
文章提出了一些有效的利益相关者参与策略，包括沟通、合作和共同决策。
该文献强调了利益相关者参与对企业可持续发展的重要性。
文献5：Measuring and Reporting Sustainability Performance of Businesses该研究论文研究了测量和报告企业可持续发展绩效的方法和指标。
企业创新战略外文翻译文献
企业创新战略外文翻译文献(文档含中英文对照即英文原文和中文翻译)翻译之一：Choosing an innovation strategy: theory and practiceAuthor：Joseph T. GilbertNationality：AmericaDerivation：Business Horizons, Nov-Dec, 1994Innovations come as both inventions and adoptions. They come in many types and vary greatly in complexity and scope. Companies attempting tomake a profit cannot continue for long periods without innovating. If they try, their customers will leave them for firms with more up-to-date products or services. It is an observed fact that different companies take different approaches to the use of innovation in attempting to improve their performance.Both academic and practitioner publications in recent years have contained a great deal of writing about innovation, the subjects of which have ranged from comparisons of national patterns of innovation to studies of individual innovations. However, little has been published regarding one issue of both theoretical and practical importance: the innovation policy or strategy of individual firms.Business strategy as a field of study is concerned with how a company competes in its chosen business. It deals with the analysis of a firm's strengths and weaknesses and the opportunities and threats presented by the firm's environment. Strategy looks toward consistent execution of broad plans to achieve certain levels of performance. Innovation strategy determines to what degree and in what way a firm attempts to use innovation to execute its business strategy and improve its performance.To choose an innovation strategy, managers might logically start by thinking about various kinds of innovations and their requirements. We shall discuss three major features of innovation, and analyze each in terms of distinct opposites, even though innovations found in the real world more often appear at various points between these opposites.Innovation is sometimes used in a limited sense to refer only to inventions (products, services, or administrative procedures that no other firm has introduced). More often, however, it applies in a more general sense that includes both invention as described above and imitation (adoption by a firm of a product, service, or administrative procedure that is not an invention but is new to that firm). We use the term in this second sense.Innovations can be characterized in a variety of ways. In the followingsections we will review three ways of describing innovations: incremental/radical; first mover/late mover; and imitative/inventive. The three categories are not mutually exclusive. However, each points to a different feature of innovation and reveals insights not found as readily in the other two. DEGREE OF INNOVATION--FROM RADICAL TO INCREMENTALHow new or different does something have to be before it can be called an innovation at all? If a paint company that currently offers 12 shades of white adds a thirteenth, is this an innovation? If a store that is presently open from 8 a.m. to 6 p.m. adopts a policy of staying open around the clock, this would seem to be an innovation. But what if it changes its opening time from 8 a.m. to 7:45--is this an innovation? If an airline that now offers ten flights a day from New York to Chicago adds an eleventh flight, is this innovative?At the other extreme, if a flower shop owner decides there is no hope for her business, and so closes up her shop and reopens it a month later as a used book store, is this an innovation? How about when U.S. Steel decided to branch out into oil and natural gas and change its name to USX? Was that an innovation? These issues may appear to be so trivial as to involve only word games, but in all the writings on innovation we have found no clear definition of the concept. To think clearly about an issue, it is helpful to define its limits. There are some innovations that are so minor they are barely perceived as changes. Clearly they have no impact on a firm's basic strategies. At the other extreme, some innovations are so great that they result in a fundamental change in the very nature of a business, leaving behind nothing of the old business. Both these extremes are beyond the scope of our discussion; instead, we are concerned with the vast middle ground.Some innovations are dramatic in their scope and impact and clearly fall into the category of radical. For example, the introduction of automatic teller machines made a fundamental change in the availability of some retail banking services. The personal computer, though still a computer, is a radically different way of providing computing power to many people who previouslyhad access to it only through the medium of mainframes or minicomputers and the intervention of information systems professionals. The use of high-yield bonds to finance takeovers brought fundamental changes to corporate ownership in the 1980s.Several studies, such as Mitchell (1989) and Tushman and Anderson (1986), have indicated that radical innovations tend to be introduced by companies outside an industry or by newcomers rather than by industry incumbents. These authors demonstrate that radical innovations that enhance skills possessed within an industry tend to be introduced by incumbents, whereas those that destroy existing skills tend to be introduced by new firms or industry outsiders. They also have shown that the timing of the introduction of radical innovations presents different problems for the two groups (industry incumbents and outsiders).Innovations that are radical when first introduced appear less so after they have become popular and their adoption is widespread. Apple's introduction of the personal computer was a radical innovation. When IBM introduced its first PC several years later, the innovation was less radical. When Dell and Gateway 2000 began retailing personal computers, the product was commonplace, but the method of distribution (direct mail) was seen by some as a radical departure from previous sales methods.The slightest of incremental innovations begins at whatever point we decide there is an innovation at all. Because they build on existing products, services, or routines and modify them to some degree, incremental innovations are generally easier to plan and implement, and involve less change than radical innovations. This is not to say that they do not have strategic value, or that the total result of a series of incremental innovations cannot be quite impressive when compared to the starting point.The single lens reflex 35mm camera has been on the market for a number of years. Many small improvements have been made since its first introduction. And although each would qualify as an incremental innovation, today's 35mmSLR camera is nonetheless quite different from the first one introduced. STIMULUS FOR INNOVATION--FROM FIRST MOVERS TO LATE MOVERS Inventions are, by definition, only introduced by one firm, or at most by a small handful of firms that bring a new product or service to market simultaneously. Companies that attempt to introduce an invention should logically stand to gain some substantial advantage, because there is a real risk of coming late to the finish line and gaining no prize. Companies that succeed in commercializing an invention are sometimes known as first movers. There are three basic types of advantages that can go to first movers.If an invention involves proprietary technology (prescription drugs, computer software) then the first firm to obtain the patent or copyright wins the exclusive right to market the product. The lack of competition can be a definite strategic advantage. For instance, Xerox was the first to introduce plain paper copier technology. The company was so successful in patenting this technology that it was able to build up a huge competitive lead before its first competitor entered the market.Preemption of scarce assets can sometimes provide an advantage to one or a few first movers that will not be available to those that adopt the innovation later. Examples of this include scarce landing slots at a major airport and oceanfront property for real estate development.The creation of buyer switching costs can also provide an advantage to one or a few first movers that is denied to followers. Once people learn how to use a word-processing program, they will usually stay with that program even in the face of a new one with more features. Travelers who have accumulated frequent flier miles on one airline will not readily switch to another.选择创新战略：理论与实践作者：詹斯夫·吉尔伯特国籍：美国出处：商业视野，1994年11—12月期创新既是发明也是吸收采纳。
企业管理的英文文献
企业管理的英文文献Enterprise management is an important aspect of any successful business. It involves the efficient allocation of resources, effective decision-making, and the ability to adapt to changes in the market. There are a variety of English-language sources that discuss different aspects of enterprise management. In this article, we will examine some of the key texts in this field.Step 1: IntroductionThe first step in any enterprise management is understanding the importance of effective leadership. A classic text in this area is Peter Drucker's "The Practice of Management." This book has been called the "Bible of modern management" and is essential reading for anyone interested in understanding the principles of good management.Step 2: StrategyDeveloping a sound strategy is another essential component of enterprise management. A key text in this areais Michael Porter's "Competitive Strategy." This book provides a framework for understanding the competitive dynamics of different industries and how companies can position themselves to gain an advantage.Step 3: OperationsEffective operations management is crucial for ensuring that a business is able to deliver products or services efficiently and at a high level of quality. "The Goal" by Eliyahu Goldratt is a classic text in this area that provides a practical approach for improving production processes andreducing waste.Step 4: MarketingMarketing is a critical component of enterprise management that involves understanding customer needs and creating products or services that meet those needs. "The Art of Possibility" by Rosamund Stone Zander and Benjamin Zander provides insights into how to create a compelling vision for a business and communicate that vision effectively to customers.Step 5: Human ResourcesManaging human resources is another important aspect of enterprise management. "The Fifth Discipline" by Peter Senge provides a framework for creating a learning organizationthat encourages innovation, collaboration, and continuous improvement.Step 6: FinanceEffective financial management is essential for ensuring that a business is sustainable in the long term. "Financial Statements" by Thomas Ittelson provides a practical guide to understanding financial statements and using financial datato make informed decisions.Conclusion:In conclusion, enterprise management is a complex and multi-faceted discipline that involves a number of different areas, including leadership, strategy, operations, marketing, human resources, and finance. By studying the key texts in each of these areas, business leaders can gain a deeper understanding of the principles of effective management and apply these principles to their own organizations.。
企业发展战略英文文献
企业发展战略英文文献企业发展战略是企业制定和实施的一系列战略计划，旨在实现长期竞争优势和可持续发展。
以下是一些关于企业发展战略的英文文献：1. Kotler, P., & Keller, K. L. (2012). Marketing management: analysis, planning, implementation, and control. Pearson Education India.这部经典的市场营销管理书籍详细介绍了企业如何制定和实施有效的营销战略。
它强调了市场分析、目标市场选择、产品定位、促销策略等方面的关键要素。
此外，书中还提供了许多实用的工具和技巧，帮助企业制定营销计划并监控其执行情况。
2. Porter, M. E. (1985). Competitive strategy: techniques for analyzing industries and competitors. Free Press.这部作品是迈克尔·波特教授的代表作之一，它提出了五种竞争力模型，即进入壁垒、替代品威胁、买方议价能力、卖方议价能力和现有竞争对手之间的竞争。
该模型为企业提供了分析行业结构和竞争态势的工具，帮助企业制定有效的竞争战略。
3. Ansoff, H. I. (1965). Corporate strategy. McGraw-Hill Book Company.这部作品提出了著名的“多元化战略”和“协同效应”等概念。
它强调了企业需要制定长期发展战略，并寻求多元化发展以降低风险并提高盈利能力。
此外，书中还介绍了如何通过协同效应实现资源共享和成本节约，从而提高企业的整体竞争力。
综上所述，这些文献为企业提供了宝贵的战略规划和实施指南。
它们强调了市场分析、竞争态势评估以及多元化发展等关键要素在企业战略制定中的重要性。
公司战略英文参考文献(2篇)
第1篇Abstract:This paper provides a comprehensive review of the theoretical frameworks and practical applications of company strategy. It explores the evolution of strategic management thought, discusses key concepts and models, and examines how these strategies are implemented in real-world business scenarios. The aim of this review is to offer insights into the strategic decisions that companies make to achieve sustainable competitive advantage and long-term success.1. IntroductionStrategic management is a critical function in organizations, providing direction and focus for the company's operations. It involves the formulation, implementation, and evaluation of strategies that guide the company's actions and decisions. Over the years, strategic management has evolved significantly, with numerous theories and models being developed to explain and predict strategic behavior. This paper aims to provide a comprehensive overview of these theories and their practical applications.2. Evolution of Strategic Management Thought2.1 Classical ApproachThe classical approach to strategic management, often associated with the work of Alfred Chandler, emphasizes the integration of strategy with the structure and processes of the organization. This approach suggests that strategy is the product of a rational analysis of the internal and external environment and the formulation of a coherent plan to achieve the company's objectives.2.2 Design SchoolThe design school of strategic management, as represented by the work of Kenichi Ohmae, focuses on the visual representation of strategy through the use of frameworks and models. This approach emphasizes theimportance of understanding the competitive landscape and thepositioning of the company within it.2.3 Resource-Based View (RBV)The resource-based view of strategy, proposed by Jay Barney, suggests that a company's competitive advantage is derived from its unique and valuable resources. This view emphasizes the importance of identifying, developing, and leveraging these resources to achieve sustainable competitive advantage.2.4 Capabilities-Based View (CBV)The capabilities-based view of strategy, developed by Henry Mintzberg, suggests that a company's competitive advantage is derived from its ability to perform certain tasks effectively. This view emphasizes the importance of developing and maintaining capabilities that are difficult for competitors to imitate.2.5 Dynamic Capabilities View (DCV)The dynamic capabilities view of strategy, as proposed by Peter Anderson and others, suggests that a company's competitive advantage is derived from its ability to continuously adapt and change in response to changes in the external environment. This view emphasizes the importance of flexibility and innovation.3. Key Concepts and Models3.1 SWOT AnalysisSWOT analysis is a tool used to evaluate a company's strengths, weaknesses, opportunities, and threats. It provides a framework for understanding the internal and external factors that can affect the company's strategic decisions.3.2 Porter's Five Forces ModelPorter's five forces model is a tool used to analyze the competitive intensity and attractiveness of an industry. It evaluates the bargainingpower of suppliers and buyers, the threat of new entrants, the threat of substitute products or services, and the existing industry rivalry.3.3 Value Chain AnalysisValue chain analysis is a tool used to identify the activities that create value for a company and its customers. It helps to identify areas where a company can gain a competitive advantage by adding value to its products or services.3.4 Balanced ScorecardThe balanced scorecard is a strategic management tool that provides a comprehensive view of a company's performance across four perspectives: financial, customer, business processes, and learning and growth.4. Practical Applications4.1 Blue Ocean StrategyBlue ocean strategy, as proposed by W. Chan Kim and Renée Mauborgne, suggests that companies can create new market spaces by breaking away from the traditional competitive landscape. This approach emphasizes the importance of differentiation and innovation.4.2 Strategic Alliances and PartnershipsStrategic alliances and partnerships are formed to leverage the strengths of different companies and create synergistic effects. These relationships can help companies access new markets, share resources, and reduce costs.4.3 Strategic OutsourcingStrategic outsourcing involves contracting out certain business functions to external providers. This approach can help companies reduce costs, improve efficiency, and focus on their core competencies.4.4 Globalization and International StrategyGlobalization has forced companies to develop international strategies that take into account cultural, economic, and political differences.This requires a thorough understanding of the global business environment and the ability to adapt to local markets.5. ConclusionIn conclusion, company strategy is a complex and dynamic process that requires a deep understanding of both the internal and external environment. The theoretical frameworks and models discussed in this paper provide a foundation for understanding and analyzing strategic decisions. By applying these concepts and models, companies can develop strategies that will enable them to achieve sustainable competitive advantage and long-term success.References:1. Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.2. Barney, J. B., & Hesterly, W. S. (1996). The resource-based view of the firm: Ten years after. Strategic Management Journal, 17(S1), 33-46.3. Chandler, A. D. (1962). Strategy and structure: Chapters in the history of the industrial enterprise. Cambridge, MA: MIT Press.4. Kim, W. C., & Mauborgne, R. (2005). Blue ocean strategy. Boston, MA: Harvard Business Press.5. Mintzberg, H. (1994). The rise and fall of strategic planning. New York, NY: Free Press.6. Ohmae, K. (1989). The mind of the Strategist. New York, NY: Free Press.7. Porter, M. E. (1979). How competitive forces shape strategy. Harvard Business Review, 57(2), 73-93.8. Rumelt, R. P. (1991). How to make strategic decisions. Harvard Business Review, 69(5), 139-150.9. Anderson, P., & Westbrook, R. (1997). The dynamic capabilities of firms. Strategic Management Journal, 18(4), 355-375.10. Kaplan, R. S., & Norton, D. P. (1996). The balanced scorecard: Translating strategy into action. Boston, MA: Harvard Business School Press.第2篇Books1. Ansoff, H. I. (1965). Corporate Strategy: An Analytical Approach. McGraw-Hill.- This classic book by Harry Igor Ansoff introduces the concept of corporate strategy and provides a framework for analyzing and formulating strategies for businesses.2. Porter, M. E. (1980). Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press.- Michael E. Porter's seminal work on competitive strategy offers insights into how companies can gain a competitive advantage in their industries through various strategic choices.3. Hamel, G., & Prahalad, C. K. (1994). Competing for the Future: How to Strategicily Increase Your Company's Industry attractiveness. Harvard Business Review Press.- This book by Gary Hamel and C. K. Prahalad explores how companies can create new markets and reposition themselves to compete effectively in the future.4. Kaplan, R. S., & Anderson, S. R. (2007). Balance Scorecard: Translating Strategy into Action. Harvard Business Press.- The authors of this book discuss the use of the balanced scorecard as a strategic management tool to align business activities to thevision and strategy of the organization.5. De Wit, B., & Meyer, R. (2011). Strategy: Process, Content, Context. Cengage Learning.- This comprehensive text provides an in-depth analysis of strategy, covering the process, content, and context of strategic decision-making.6. Johnson, G., Whittington, R., & Scholes, K. (2013). Exploring Corporate Strategy. Pearson.- This book offers a broad overview of corporate strategy, including discussions on strategy formulation, implementation, and evaluation.7. Barney, J. B. (2016). Gaining and Sustaining Competitive Advantage: Strategic Management in a Dynamic Environment. Prentice Hall.- This text by Jay B. Barney examines the factors that contribute to competitive advantage and provides insights into how companies can sustain their competitive edge.Journal Articles1. Ahuja, G., &{!!rightarrow_left!!}Liu, Y. (2000). The Dynamic Capabilities of a Firm and the Evolution of Its Competitive Advantage. Strategic Management Journal, 21(6), 777-799.- This article discusses the role of dynamic capabilities in the evolution of a firm's competitive advantage.2. Teece, D. J. (2007). Dynamic Capabilities and Strategic Management. California Management Review, 50(1), 53-79.- This article provides an in-depth analysis of dynamic capabilities and their relevance to strategic management.3. Tushman, M. L., & Anderson, P. (1986). Technological Discontinuities and Organizational Environments. Administrative Science Quarterly, 31(3), 439-465.- This classic article explores the impact of technological discontinuities on organizational environments and the strategic responses of firms.4. Hamel, G., & Prahalad, C. K. (1996). Does Your Company Have a Strategy? Harvard Business Review, 74(4), 106-116.- This article by Gary Hamel and C. K. Prahalad questions the presence of a strategy in organizations and emphasizes the need for a clear strategic focus.5. Miller, D. (1986). The Correlates of Organizational Growth. Academy of Management Journal, 29(3), 427-452.- This article examines the factors that correlate withorganizational growth and provides insights into the role of strategy in driving growth.6. Day, G. S. (1982). The Fit between Strategy and Structure. Journal of Management Studies, 19(4), 549-562.- This article discusses the relationship between strategy and organizational structure and the importance of fit in achievingstrategic success.7. Barney, J. B. (1991). Firm Resources and Sustainable Competitive Advantage. Journal of Management Studies, 28(6), 647-665.- This article explores the role of firm resources in creating sustainable competitive advantage and the implications for strategic management.Conference Proceedings1. Conference on Strategic Management (2018). Strategic Management: Shaping the Future. Boston, MA: Strategic Management Society.- This conference proceedings provide insights into current trends and challenges in strategic management, including case studies and research findings.2. Academy of Management Annual Meeting (2019). Managing in the Digital Age. Anaheim, CA: Academy of Management.- This conference proceedings focus on the impact of digital technology on management and strategy, offering perspectives from leading scholars and practitioners.3. Strategic Management Society European Conference (2020). Strategy in the Age of Disruption. Rome, Italy: Strategic Management Society.- This conference proceedings explore the strategic challenges posed by disruption and the strategies that organizations can adopt to thrive in turbulent environments.4. International Conference on Strategic Management (2021). The Future of Strategy: Navigating Complexity and Uncertainty. Chicago, IL: Strategic Management Society.- This conference proceedings address the complexities and uncertainties of the modern business environment and the strategies needed to navigate them effectively.5. World Congress on Strategic Management (2022). Strategy in a Global Context: Challenges and Opportunities. Kyoto, Japan: Strategic Management Society.- This conference proceedings discuss the strategic implications of globalization and the opportunities and challenges it presents to organizations.These references provide a comprehensive understanding of company strategy, covering theoretical frameworks, practical applications, and current trends in the field. They are essential reading for anyone interested in strategic management and the development of effective business strategies.。
企业战略研究外文文献翻译
企业战略研究外文文献翻译Brand Strategy ResearchResource: Kapferer, J.H Strategic Brand Management[J]. Kogan Page, LondonEconomic globalization, how to adapt to international trends, establish a strong brand and enhance our competitiveness, have become pressing issues facing enterprises. Based on the analysis of the development of corporate marketing brand strategy, based on the content of brand strategy an its functional significance, to discuss the brand strategy in enterprise marketing role. Enterprise needs to use a variety of means of competition to increase brand awareness, improve brand positioning, an create a good brand image.First, Japanese brands across the board defeatNovember 22, 2006 morning, NEC announced that it would withdraw from 2G and 2.5G mobile phone market, which means that, following Sharp, Panasonic, Toshiba, Mitsubishi, Sanyo, a Japanese mobile phone manufacturers later withdraw from the Chinese market, Japanese mobile phone has almost all except Kyocera 2G mobile phone market in China out of contention.If we sum up the Chinese household appliance market, today any different from ten years ago, I think the biggest difference is that Japanese companies in China, Japanese home appliance market downturn, thefollowing main reasons: First, rigid enterprise system, decision-making difficult, the reaction was slow, incompatible with the reality of the Chinese market, it is difficult to adapt to the rapidly changing Chinese market; 2 is weak in marketing, product planning capacity is not strong, it is difficult to judgeaccording to their marker launch to meet consumer demand and forecast products, follow the trend has been in a passive situation, can not satisfy market demand; Third, failure to grasp the industry best time to transition is the Japanese home appliance companies lose an important reason for market dominance .Japanese companies come to the edge in the Chinese market is causing companies tothink deeply about our nation? To take the international route and whether the enterprise of “Japanese Company” to the lessons learned behind?Second, the brand strategy implementation in China the Current SituationMany old famous “flash in the pan”Chinese and foreign enterprises in the Chinese market the brand war; just grow up to be a great impact on national brands. The last century, a little-known 80’s brand, not being registered by trademark, is to be acquired, squeeze, even if the residue is hard going down really developed very limited. Here a typical case, the last century 80s to early 90s, he worked in air conditioning sector hit wonders of the Warburg in 1998, was acquired Kelon, the subsequent decline in brand image is repeated.Brand strategy has been an increasing emphasis on domestic enterprises caused the government to support.Since the 80s of last century reform and opening up, China’s socialist economic construction has made remarkable achievements. From a planned economy to market economy era Chinese companies, brand management has grown out of nothing.Information, local governments at all levels of emphasis on brand-name, organization promoting the efforts, policiesmeasures have greatly enhanced Qinghai, Shenzhen, Wuhan, Ningbo, Shenyang and other cities on the Chinese famous enterprises incentives to 100 million, on Dali an 3 million Yuan, on brand-name companies have been cities for the 100000yuan reward-200000yuan..January 8th 2009 year to January11th,the 40th International Consumer Electronics Show(CES) in Las Vegas Venetian hotel opening. National enterprises in the CES, we achieve superior results.It is understood that this year there are 4000 people registered to participate in China CES, including manufacturers, media and spectators, in the exhibition hall, there are 327 exhibitors. Haier is the world’s most authoritative consumer electronics industry media “TWICE” named for the Chinese consumer electronics brand.3.The status of foreign brands in most sectors is still difficult to shakeHowever, we should also see the face of numerous products on the market, allows consumers blurted out genuinely few domestic brands. With the opening up further, to a number of big companies have to squeeze into the Chinese market, Chinese market, a time filled with “Sony”,“Coca-Cola”, “Rejoice”, “Benz”and various other international brands, many of these names foreign brands violently hitting the national brand in China .Although the appliance industry, led by Haier brand, “Konka”, “Changhong” , “TCL” and other domestic br ands have developed well, but with the “Sony” , “Panasonic”“Samsung” and other brands, they are still there competitive disadvantage; in the IT industry, “Lenovo” , “Founder” , “Great Wall” and the brand’s competitivenesshas improved significantly, but with Europe and the United States, Japan and other countries compared to, brand awareness is still insufficient; in Consumer Goods market, “P&G”, “Oliver”, “Henkel”, and other international companies have formed the three pillars.Third, the brand strategy implementation in China Problems and Errors Currently, Chinese brands have a huge international marker opportunity and space for international brands has been inevitable, but there are also brand building is not unsatisfactory.Our Enterprise Brand Building ProblemsFactors from the point of micro-enterprises themselves: there is a lace of technology development, brand competitiveness is not strong; brandpersonality, lack of innovation and development capacity; small-scale production and management, brand development lack of overall planning; ability of weak exports and international operations, Brand awareness is not strong; brand positioning is not clear, there is a large range of factors such as blindness. Speaking from the macro social factors: social mechanisms need to be improved, policies and regulations support the need to further strengthen the country’s industrial policy, export-oriented policies for different sectors play different role in the promotion and limitation, the financial environment for business investment capacity and market expansion ability and the important influence. The establishment of market system in China has for many years, despite a significant improvement but still not perfect, there still has not really adapt to the market economy, consumer psychology has not yet fully mature.2. The current situation of global economic integration, the error of the brand strategy implementation(1) Ignore the brand investment, profit-orientedBackground of economic globalization, international competition is increasingly reflected in the brand’s competition, the overwhelming majority of the modern world famous multinational companies with particular emphasis on the use of brand strategy, brand such a full range of output through the form of multinational corporations gradually occupation of the international market, it is no exaggeration to say that now, the brandhas achieved global strategic objectives of transnational corporations sharp weapon, is an important means to achieve capital expansion.Rome was not built in a day cold. Brand never be in the short term invented to be a long process of accumulation. Many enterprises do not clearly recognize this point, attempt to create a brand in a short time, but ignored the long-term planning and strategy.(2) Brand strategy is a systematicThe implementation of brand strategy is a systematic, enterprise strategy and the overall development of an important component of competitive strategy. The implementation of brand strategy is to rely on their overall quality and overall image enhancement, the need for scientific management idea and superb operational skills, but quit a few brand planner in this regard was particularly poor performance and immediate impact brand development, practical work in the emergence of many such errors: If that job is to create a brand to take a good name to the product, improve product awareness, or what the product packaging; good brand is drawing a satisfactory visual signs only; Advertising is the only way to cultivate well-known brands, inaddition to advertising in the media, big, the other no attention; scale enterprise product once formed, well-known brands on the naturally established; well-known brand is equivalent to high price, to be unrealistically improve the product price. Some companies even go further in the brand Wrong Operation not hesitate to give up theirown brand business, with foreign companies, brands, or to sell its own brand low-cost transfer, such as our present more than 20 million “three capital” enterprises, there 90% of the joint venture using the foreign brands; clean silver toothpaste factory in Ghuangzhou to 2 million yuan cheap to transfer to joint ventures and other brands, is one such outstanding example of the terrible consequences of today has become increasingly apparent-lost domestic enterprises own brand, product and intellectual property rights, national industrial competitiveness lie!(3) Product is the enterprise competitive advantage in the market can be quickly imitated by competitors, beyond, the brand is insurmountable, real and lasting competitive advantage comes from innovation, in order to “change” should be “status quo”Brand is the concentrated expression of the core competitiveness. The market is constantly changing face of any brand at any time to be out of danger. Too much emphasis on the existing achievements, do not attach importance to innovation, leading to a lot of brand-name “dismount”the major reason. Coca-Cola’s former chief marketing officer Sergio Zyman, “The br and is only the company logo products and services are different from competitors, is the most effective weapon to open up the market, excellent brand can make yourproduct stand out .”Products physical properties, quantity, price, quality, service is very easy to imitate competitors, Er brands, along with the product itself, also includes anattached product to cultural background, emotional, consumer cognition invisible things, so that enterprises Yong Yuan Li in the competition undefeated. Consumer awareness deciding the fate of the brand has a direct impact on consumer awareness. Brand is the difference between the market enterprise important symbols is the benchmark for consumer spending to brand as the core has become a corporate restructuring and reallocation of resources an important mechanism.Fourth, national enterprises in brand internationalization process of how to brand positioningBacked by science and technology, establish a “quality first, winning by quality” business philosophy, the brand’s fashion elements, the outstanding individualProduct quality is the cornerstone of creating brand. Competitiveness of their products performance in the competition for the brand, and brand competition while relying on the inherent quality of products. Growth for the brand through a brand is the quality of a brand in the market down are also in most of a problem because of the quality. Therefore, it can be said, quality is the brand of life depends.In addition, enterprises should learn from successful experiences abroad to enhance their design and development capability. Enterprises should dare to challenge the new technology revolution to create their own brand, and increase market competitiveness; we must work hard in thetransformation. Personalization trend in the world changes, the value of customer experience and the value of differentiationhas been directly determined to achieve the final product sales, personal services are indispensable!2. To strengthen marketing, improve brand awareness, brand strategy will be organically integrated in their overall strategy to promote the overall development strategyThe implementation of brand marketing is an important part of the strategy. By choosing the right marketing approach can be effectively used to brand a household name brand, expand market share. Brand strategy is not an isolated task, but the overall development strategy and business are closely related. A successful brand names more than just a brand its own thing, related to business management of all major strategic decision, these major strategic decisions were consciously carried out around the brand to expand.3. Follow the laws of the brand design, brand image, brand and accurate market positioning, brand performance and outstanding value emotional communicationBrand competition is not all-round competition; each brand has its own market position. The basic method is not positioning to create a novel or unique issues, but to manipulate what already exists in the heart, the eyes of potential customers to buy soon tapped desire to make it into consumerimpulse. Enterprises should take the market as guide, technology as a means to adapt to changes in its requirements, such as the establishment of information feedback system to collect information about changes in consumer, and constantly develop new products, provide consumers with personalized service, and meet the consumers to make their own in a good position in the competition.The world has entered the 21st century brand internationalcompetition, branding has become a new international language into millions of households. To establish the brand products in the market position establish a corporate image, is effective competition in the market means business. Brand is the core product; brand marketing is to defy the other. Enterprise management system must be adopted, technological innovation, and constantly improve the quality of products and services. At the same time to increase the international competitiveness of the strategic brand research and planning, and the comprehensive to enhance the brand’s international competitiveness. Most Chinese enterprises in the growth stage now, brand strength is weak, it is undoubted fact, however, based on industry, market and enterprise resources, while avoiding disadvantages, choose the best brand strategy is a wise choice. Such as is now more prevalent and has a well-known brand outside the company’s co-production, reverse merger; use the link strategy to redefine the brand image; with two or more brands collaborate effectively formed alliances to improve their social acceptance。
企业管理英文文献综述范文
企业管理英文文献综述范文Corporate Governance: A Comprehensive Literature Review.Introduction.Corporate governance plays a pivotal role in ensuringthe transparency, accountability, and integrity of organizations. It encompasses the systems and processes by which companies are directed, managed, and controlled. This literature review examines the key aspects of corporate governance, including board structure, shareholder rights, executive compensation, and regulatory compliance.Board Structure.The board of directors is the highest decision-making body in a corporation. Its composition and structure are essential for effective governance. Research has shown that boards with a diverse range of perspectives, including independent directors, women, and members from differentethnic backgrounds, enhance decision-making and reduce the risk of groupthink (Adams & Ferreira, 2007; Carter & Lorsch, 2004).Additionally, the size and composition of the board can influence its effectiveness. Smaller boards may be more efficient, while larger boards may offer a wider range of expertise. However, excessive board size can lead to coordination issues and slower decision-making (Bebchuk & Cohen, 2005; Jensen & Meckling, 1976).Shareholder Rights.Shareholders are the owners of a corporation and possess certain rights, including the right to vote on corporate decisions, receive dividends, and accessfinancial information. Protecting shareholder rights is crucial for ensuring accountability and transparency.Research suggests that strong shareholder rights enhance firm value (Arya & Mittendorf, 2008; Shleifer & Vishny, 1997). Institutional investors, such as pensionfunds and mutual funds, play a significant role in protecting shareholder interests by actively monitoring board performance and exercising voting rights (Gillan & Starks, 2000; Gompers, 2003).Executive Compensation.Executive compensation is a contentious issue in corporate governance. Excessive executive pay can erode shareholder value and undermine public trust. Research has identified a strong correlation between CEO compensation and firm performance (Murphy, 1985; Jensen & Murphy, 1990). However, it is essential to balance the need to attract and retain talented executives with the interests of shareholders.Effective compensation systems align executive incentives with firm goals and promote long-term value creation. Performance-based pay and stock options are common mechanisms used to achieve this alignment (Malmendier & Tate, 2008; Jensen & Murphy, 1990).Regulatory Compliance.Corporate governance frameworks are often complemented by regulatory compliance requirements imposed by government agencies. These regulations aim to protect investors, promote market integrity, and prevent corporate misconduct.Compliance with regulatory frameworks is essential for maintaining public trust and avoiding legal penalties. Companies can implement compliance programs that establish clear policies, provide training, and monitor adherence to regulations (Proffitt & Margolis, 2007; Song & Shim, 2009).Codes of Conduct and Ethical Considerations.Codes of conduct and ethical considerations play a significant role in guiding corporate behavior. These guidelines establish standards of integrity, accountability, and ethical decision-making for employees and management.Research has shown that strong codes of conduct can enhance employee morale, reduce misconduct, and mitigatereputational risks (Crane & Matten, 2010; Johnson, Johnson, & Holloway, 2010). Ethical considerations are particularly important in industries where social and environmental factors are relevant (Gibson, 2000; Mackey, Sisodia, & Wolfe, 2013).Corporate Governance and Firm Performance.Empirical research has consistently demonstrated a positive relationship between strong corporate governance practices and firm performance. Companies with effective governance structures and policies tend to exhibit higher profitability, lower risk, and better long-term value creation (Aguilera & Jackson, 2003; Bhagat & Bolton, 2008; Claessens, Djankov, & Fan, 2002).Emerging Trends in Corporate Governance.Corporate governance is constantly evolving to address emerging challenges and opportunities. Key trends include:Sustainability and ESG considerations: Investors andstakeholders are increasingly demanding that corporations adopt sustainable practices and consider environmental, social, and governance (ESG) factors.Technology advancements: Advancements in technology, such as blockchain and artificial intelligence, are transforming corporate governance practices and enabling greater transparency and efficiency.Diversity and inclusion: Companies are recognizing the importance of diversity and inclusion in boardrooms and throughout the organization.Conclusion.Corporate governance is a critical aspect of modern business management. By fostering transparency, accountability, and ethical behavior, effective governance practices protect stakeholders, promote firm performance, and contribute to a stable and ethical business environment. As corporate governance continues to evolve, it is vitalfor organizations to stay abreast of emerging trends andbest practices to ensure the long-term success of their enterprises.。
财务战略管理外文翻译文献
财务战略管理外文翻译文献外文文献原文及译文财务战略管理外文翻译文献(文档含中英文对照即英文原文和中文翻译)Small and medium-sized enterprise financial strategy choice indifferentFinancial strategic management of the significance of the development of small and medium-sized enterprises, this paper expounds the development of enterprise needs not only scientific, fine daily management, need more forward-looking strategic vision and strategic thinking;Through the analysis of the financial characteristics of small and medium-sized enterprises (smes) in different development period, discusses the enterprise should be how to choose matching financial strategy problems, for the enterprise bigger and stronger, sustainable development, provides a feasible way of thinking.With the establishment of the modern enterprise system and market economic system reform deepening, the business activities of enterprises both contain the great vitality, also lies the great crisis.Small and medium-sized enterprises how to adapt to the environment, and maintain competitive advantage not only need to strengthen the daily management of science, fine, more need to have a forward-looking strategic thought, especially the financial and strategic thinking.Enterprise financial strategy, need to consider the enterprise external environment and internal conditions, and many other factors.Due to the small and medium-sized enterprise its own characteristics, in financial strategy can't be consistent with the practice of large enterprise,it must has its own way.Seek financial strategy for the development of small and medium-sized enterprises, make the small and medium-sized enterprise to do strongly does, sustainable development, has important practical significance for the enterprise.First, the significance of small and medium-sized enterprise financial strategy managementModern enterprise financial faces a diverse, dynamic and complicated management environment, enterprise financial management is no longer a specific methods and means of financial management, but absorbs the principle and method of strategic management, from the perspective of to adapt to the environment, use conditions, pay attention to the long-term problem of financial and strategic issues.In the small and 外文文献原文及译文medium-sized enterprises under the condition of relative lack of resources, to develop a suitable financial strategy, and at a reasonable allocation of scarce resources is particularly important.Enterprise financial strategic focus is the development direction of the future financial activities, goals, as well as a basic approach to achieve the goal and strategy, this is a financial strategy is different from other features of various kinds of strategy.Enterprise financial strategy is the overall goal of assemble, configuration, and use resources rationally, to seek balanced and effective flow of enterprise funds, build enterprise core competitive power, finally realizes the enterprise value maximization.The several aspects of the goal is connected with each other.In the long term performance for, seek the sustainable growth of enterprise financial resources and ability, to realize theenterprise capital appreciation, and make the enterprise financial ability sustainable, rapid and healthy growth, maintain and develop the enterprise the competitive advantage.Strategic management in building enterprise core competitive power, need the support of enterprise financial management.Enterprise capital management as the important content of financial management must reflect the requirements of enterprise strategy, ensure the implementation of the strategy of its.Implement the strategy of enterprise financial management value is that it can maintain a healthy enterprise financial situation, to effectively control the financial risk of the enterprise.Second, the small and medium-sized enterprise financial characteristics analysisSuccessful financial strategy must be adapted to the enterprise financial characteristics, the development stage of conform to the enterprise overall strategy and the current and the benefits of stakeholders, the associated risks.Roughly divided into enterprise's development stage, initial, maturation and decline stages.Small and medium-sized enterprises in different stages of development presents the financial characteristics are different and should be based on the analysis of characteristics of its financial seek suitable for different development period of the small and medium-sized enterprise financial strategy.1)the initial financial characteristicsThe management risk of the enterprise life cycle of the initial stage is the highest, thisis because the products on the market soon, a single product structure, the scale of production limited, the product cost is higher, profitability is very poor, also need to invest a lot of money for the new product development and marketdevelopment, and product market whether to expand the product should be enough space for the development of is uncertain and compensation costs, core competence has not yet formed.To small businesses from the impact of the financial management activities of enterprises cash flow, operating activities and investment activities belong to the state of outflows greater than inflows, shortage of funds, cash flows is negative, it is difficult to form internal capital accumulation, financing activities is the only source of cash.This is the initial financial characteristics of the enterprise.2)mature financial characteristicsIn the beginning of small business success across, they will enter a relatively stable mature stage.In the process of enterprise tend to mature, the enterprise growth and prospect than as well as the management risk will fall;Enterprises have the product of the stability of the relatively high market share and account back continuously, has the high efficiency of capital turnover;At the same time, due to the new project, cash flow, less business net cash flow is positive, the enterprise the management activities and investment activities generally characterized by net income.Financing scale than the initial decline, and at this stage is given priority to with retained earnings and debt financing policy, a lot of debt servicing period, along with the increase of debt financing, rise to financial risk and operational risk equivalent.Dividend proportion also have improved, high cash per share net profit ratio make the dividend payment rate and payments will improve, investors return at this time more is through the dividend distribution rather than the start-up phase of the capital gains to meet.3)the recession financial characteristicsFor recession enterprises, reduce business and product death is inevitable, and the opportunity for profitable investment is very small, the purpose of business is the turning point in order to continue to make a living.To small business financial management activities of enterprises from the impact of cash flow, because the enterprise product sales decline, slow cash flow, business activities have obvious negative cash flow.At the same time, as companies in recession more to take high dividend distribution policy, debt financing in the process of decline will increase, and外文文献原文及译文financing activities generate positive cash flow, financial leverage and financial risk increases.Three, different development period of the financial strategy choiceThe choice of financial strategy decision of small and medium-sized enterprise financial orientation and pattern of resource distribution, affects the behavior of enterprise financing activity and efficiency.From the perspective of life cycle theory, the development of small and medium-sized enterprises generally to undergo early stage, mature stage and decline stages.Small and medium-sized enterprise's financial strategy will vary at different stages of development, only select and match the different developmental stages of the enterprise's financial strategy, in order to promote the small and medium-sized enterprises bigger and stronger, sustainable development.1)leading the financial and strategic choiceFinancing strategy is an integral part of the corporate financial strategy, it is the enterprise to raise funds to solve the main goal, principle, direction, scale, structure, major issues suchas channels and means, it is not a specific fund-raising plan, but in order to meet the future environment and the requirements of enterprise strategy, to the enterprise financing, and the idea of the system for a long time, enterprise strategy implementation and enhance the competitiveness of enterprise is dedicated to provide you with reliable cash flow support.In terms of external financing, small and medium-sized enterprises have difficulty in direct financing is a worldwide phenomenon.Objectively, to the extent of direct financing for smes, determined by the small and medium-sized enterprise its own problems.If it is difficult to find eligible collateral or guarantee units, commercial Banks to small and medium-sized enterprise is hard to track supervision and inspection.Most small and medium-sized enterprises small scale, the risk is big, once insolvency bankruptcy, commercial Banks and so on, the security of the creditor's rights will be these are the important factors that affect sme loans.Endogenous financing strategy refers to an enterprise that mainly from internal financing source of financing.Under the guidance of strategic thinking in the financing, the enterprise is not dependent on external funding, and raise the needed capital, and in this unit interior longitudinal accumulation of capital through retained profits before it.The main source of funds will be retained earnings, amortization, etc without having to pay cash, capital takes up less, savings brought by the revolving speed and so on.Type endogenous financing strategy is especially suitable for the lack of external financing channels of small and medium-sized enterprises.From the perspective of tax analysis, debt financing can bring tax benefits for enterprises.But since most startups accounting only produce loss, debt financingcan bring positive influence for the enterprise, and at present because our country small and medium-sized enterprises in the internal financing is relatively easy to some, lower the cost of financing, so should choose mainly endogenous financing, external financing is complementary financing strategy, provided by the owners and affiliated enterprise loan, at the same time to strengthen its own capital reserves, creating certain credit conditions, with their own assets as collateral, borrowing from financial institutions make the enterprise keep good capital structure.Enterprises should choose according to future solvency acceptable way of financing, prevent enterprises from the initial stage back heavy debt burden and was in financial crisis.Investment strategy is based on enterprise internal and external environment condition and its change trend, the enterprise has or the actual control of economic resources effectively put out, in order to obtain economic benefits and competitive advantage in the future.The content of investment strategy of investment direction, the determination of investment scale and proportion.Content must be combined with the specific investment enterprise overall strategy and investment environment, enterprise development stage to set.In the implementation of the investment strategy, managers should pay more attention to growth, leading technology and market share targets.At the start-up stage and growth stage of medium and small enterprises,They need a lot of money to develop new products, expand the market and expand business.Because it difficult to get loans from the outside, so the owners of the small and medium-sized enterprises (smes) are generally the after-tax profits retained in the enterprise, as far as possible use of cash dividend policy, keep more profits, to enrich the capital.2)mature small and medium-sized enterprise financial strategy choiceFor mature type of small and medium-sized enterprises, in order to obtain sufficient funds or stable sources of funds and excellent capital structure, usually adopt the combination of a variety of financing methods for financing.Financing strategy 外文文献原文及译文combinations can achieve better effect, such as financing, revitalize the memory through the financial assets financing, financing and depreciation enterprise commercial credit financing, etc.Type financial financing strategy refers to the enterprises with financial institutions to establish close cooperation relations, use of these financial institutions long-term stable credit the funds to reach the purpose of financing the financing strategy.Financial funding sources including policy Banks, commercial Banks and non-bank financial institutions credit financing lease, leasing company.Its advantage is financing large-scale, flexible form, enterprises need to pay interest charge, does not involve the use of equity.Type financial financing both bring to enterprise financial leverage effect, and can prevent the dilution of return on net assets and earnings per share, so in the meantime, small and medium-sized enterprises should be in order to improve the effect of financial leverage as a starting point, take active financing strategies, appropriately increase the proportion of debt.The deficiency of this form of financing is financing conditions and high cost, applicable to the product markets mature, is developing rapidly and has substantial advantages, especially small and medium-sized enterprises with technical advantage, is the premise of its financing is expected to borrow funds capital profit margin is higher than interest rates.In addition to this, mature type of small and medium-sized enterprises should also be effective to the implementation of the internal financing strategy, optimize the enterprise internal stock fund adjustment, the enterprise stock assets.Mature enterprises already have depreciation financing conditions, should play the advantages of depreciation financing.Depreciation financing possesses the advantages of low cost, low risk, through the depreciation financing to optimize financing /doc/f43449150.html,panies can also make full use of the commercial credit financing.Between enterprises credit financing, including accounts payable, notes payable, advance payment, etc.Credit financing for small and medium-sized enterprises limited liquidity is more special significance, it is the effective way to solve the enterprise capital especially the lack of liquidity.According to the characteristics of the small and medium-sized enterprises mature financial enterprises gradually rise in profits and stable at the same time, maintain production cost is reduced, which makes the enterprise capital at the beginning of the mature found some surplus.This stage of the small and medium-sized enterprises with profit maximization as the financial management goal, usually by taking scaleexpansion, development of diversification and find new ways to invest profit opportunities.Suitable for mature with the situation of small and medium-sized enterprises investment strategy includes scale expansion strategy and stable investment strategy.The expansion of scale expansion mainly refers to the core product sales.Expansion investment strategy is the mature period of small and medium-sized enterprises one of the most commonly used investment strategy, is small and medium-sizedenterprises achieve high growth of the most direct, the most effective way.The main means to realize scale expansion of market penetration, development strategy and product development strategy.After entering the mature stage of small and medium-sized enterprises, can produce a stronger intention and the growth of their own lack of various conditions, and ability of its internal contradiction, therefore, should hold more prudent attitude in financial aspects, blind expansion of avoid by all means.Summary of small and medium-sized enterprises in the reasons for failure in the process of seeking development, finance unsound accounts for large proportion.When companies have some occupy the market of products, with the possible longer profitable accumulation, often not very attention to working capital turnover, but for the past business on success, a large amount of working capital will be used for investment in fixed assets, it will lead to new tensions on the turnover of working capital.There is in order to avoid a single product, is trying to spread risk through diversification and the diversification operation, however due to the small and medium-sized enterprises generally smaller overall capital, diversification is very easy to cause the original items of working capital turnover difficult, and the new investment projects and could not form a certain scale, management ability and management experience, combined with the lack of necessary beyond to establish competitive advantage, enhancing the management risk.Different enterprises in the investment operation of the project will have different requirements, the expansion of investment strategy and stable investment strategy selection, small and medium-sized enterprise must look at the businessconditions and environment, to choose the appropriate investment strategy.Enterprises in the investment management aspects, therefore, should be to put money to be able to take advantage of the enterprise market of the products, and constantly update technical renovation, equipment, expand production scale, improve product yield and quality, to 外文文献原文及译文increase economies of scale, improve market share.At this stage, the enterprise should be scientific, reasonable choice of the mode of investment, strengthen the investment project feasibility study and argument, to strengthen the evaluation of project investment and summarizes the work.3)recession type of small and medium-sized enterprise financial strategy choiceRecession type is an important feature of small and medium-sized enterprise financing structure is highly leveraged, the most important is the compression ratio of debt financing, to avoid the risk of financial leverage.In the case of high financial risk management, often adopt defensive deflating financial strategy.Defense deflating financial strategy is to prevent financial crisis and survive, and the new development for the purpose of a financial strategy.Defense deflating financial strategy, general will minimize cash outflows and as far as possible to increase cash inflows as a top priority.In financial financing decision, should be given priority to with the use of short-term funds, as far as possible avoid the use of long-term funds, take on endogenous financing including profit retained accumulation, owner, shareholder investment and borrowing to owner, partners and shareholders of endogenous debt financing is given priority to, an application for a patent for divestitures,relies on external financing of the financing way.When enterprise sales began to decline, high fixed costs can make the enterprise into serious losses, but by signing a short-term contract or completely based on the variable cost, thus reduce fixed costs ratio lower the total cost.When many factors shows that the enterprise is in decline, can choose to some non-critical product or technology transfer, to abandon the development investment in a particular field, reduce the money for the old products, the accumulation of capital, to find new investment opportunities.To sum up, small and medium-sized enterprises (smes) on the sustainable development road, must choose to match with different stages of development of financial strategy, it can make up for the congenital defects existing in the financial, improving the capacity of sustainable development, it is the key to the small and medium-sized enterprises bigger and stronger.The arrangement of the small and medium-sized enterprises in the financial strategy, we should pay attention to keep a good capital structure, attach importance to connotation development, sound financial management, avoid blind investment and diversification, should be saving money andtimely realize scale expa。