Introduction to Organizational and Social Design. Financial policy of the organization

1. Concept, goals of long-term financial policy……………………3

2. Cost of main sources of capital………………………………9

3. Dividend policy of the enterprise…………..……………………….15

4. Methods and models of financial planning…………………………20

List of sources used……………………………………25

1. Concept, goals of long-term financial policy

Financial policy of the enterprise- a set of measures for the purposeful formation, organization and use of finances to achieve the goals of the enterprise.

Financial policy is the most important compound element general enterprise development policy, which also includes investment, innovation, production, personnel, marketing, etc. policies. If we consider the term « policy » more broadly, it is “actions aimed at achieving a goal.” Thus, the achievement of any task facing an enterprise is, to one degree or another, necessarily connected with finances: costs, income, cash flows, and the implementation of any solution, first of all, requires financial support. Thus, financial policy is not limited to solving local, isolated issues, such as market analysis, developing procedures for passing and approving contracts, organizing control over production processes, but is comprehensive.

Long-term financial policy framework- a clear definition of a unified concept for the development of the enterprise in the long term, the choice of optimal mechanisms for achieving set goals, as well as the development of effective control mechanisms.

1. Indicators characterizing general economic development

countries:

Growth rate of gross domestic product and national income; volume of money emission in the period under review; cash income of the population; household deposits in banks; inflation index; central bank discount rate.

This type of informative indicators serves as the basis for analyzing and forecasting conditions external environment functioning of the enterprise when making strategic decisions in financial activities. The formation of a system of indicators for this group is based on published state statistics.

2. Indicators characterizing the financial market situation:

Types of main stock instruments (shares, bonds, etc.) traded on the exchange and over-the-counter stock markets; quoted supply and demand prices of the main types of stock instruments; lending rate of individual commercial banks.

System standard indicators this group serves to make management decisions when forming a portfolio of long-term financial investments, when choosing options for placing free Money etc. The formation of a system of indicators for this group is based on periodic publications of the Central Bank, commercial publications, as well as official statistical publications.

3. Indicators characterizing the activities of counterparties and competitors.

A system of informative indicators of this group is necessary mainly for making operational management decisions on certain aspects of the formation and use of financial resources.

4. Regulatory indicators.

The system of these indicators is taken into account when preparing financial decisions related to the features government regulation financial activities of enterprises. The sources for the formation of indicators of this group are regulations adopted by various government bodies.

From internal sources, are divided into two groups.

1. Primary information:

Accounting reporting forms;

Operational financial and management accounting.

The system of informative indicators of this group is widely used by both external and internal users. It is applicable in financial analysis, planning, development financial strategy and policies on the main aspects of financial activity, gives the most aggregated view of the results of the financial activity of the enterprise.

2. Information obtained from financial analysis:

Horizontal analysis (comparison of financial indicators with the previous period and for several previous periods); - vertical analysis (structural analysis of assets, liabilities and cash flows);

Comparative analysis (with industry averages) financial indicators, competitor indicators, reporting and planned indicators);

Analysis of financial ratios (financial stability, solvency, turnover, profitability);

Integral the financial analysis and etc.

Thus, for the successful implementation of the enterprise’s long-term financial policy, management must, firstly, have reliable information about the external environment and predict its possible changes; secondly, have information about the current parameters of the internal financial situation; thirdly, systematically carry out analysis to evaluate the results economic activity its individual aspects both statically and dynamically.

2. Cost of main sources of capital

Often the term "capital" is used in relation to both sources

One of the most important problems management organization is to determine the purposefulness of its system, i.e. establishing the main (general) purpose of the company’s existence.

The goal is the desired state of the system. There are two types of goals: development and stabilization.

The goals that make up the overall goal of the company must have a number of characteristics: management planning control

*specificity (certain result);
*visibility (short-term, long-term);
*reality (attainability);
* interconnectedness (consistency with other goals);
*efficiency (effectiveness and profitability).

The main thing is to determine the goals that meet the interests of the company, and, therefore, to determine the management functions that implement these goals.

Goals are realized through management functions. The implementation of each function is ensured by the corresponding management unit, which is structural element control systems. The validity of the existence of structural units in the management system is always determined by their functions. In turn, the effectiveness of each department depends on its internal structure, the elements of which (groups and individual workers) are determined by the operations that make up these functions.

Management functions are generated by the division of labor, combining elements of cumulative impact that are homogeneous in nature and commonality of intermediate goals, i.e. individual management work. To name management functions, it is necessary to determine the signs of homogeneity and commonality of goals, elements targeted impact. None of the functions by itself or a simple sum of functions provide an idea of control. Only in inextricable unity and interaction do they form a single management cycle.

Any The control function consists of five types management activities with relative independence:

1. planning;
2. organizations;
3. coordination;
4. activation;
5. control.

Each previous type of activity is a necessary prerequisite for the subsequent one, until this function will not be fully realized. This means that the degree of completeness of the implementation of the management function depends on the complexity of management activities.

To understand the content of each management function, it is necessary to present it as a set of these five main types of interrelated management actions. For clarity, let's illustrate this with the planning function in developing a specific plan. This work is carried out by a significant group of employees. To achieve the goal (developing a plan), their activities must be planned, organized, coordinated, activated and controlled. In this example, you can see the difference between the concepts of “planning” as a management function and “planning” as its component, one of the five management actions of this function. In the same way, if a group of employees develops a system for rewarding the company's employees, then their work needs to be planned, organized, coordinated, activated (encouraged) and controlled. That is, when performing the “activation” management function, workers need to be activated.

Let us now consider the types of management actions.

1. The first type is planning, i.e. determining the optimal result under given time and resource constraints. In any management decision, there are always answers to the questions: who should do what, how much and when.
2. The question of how to do this can be answered by the second type of management activity - organization, i.e. determination of ways, methods and means of achieving the goal. When analyzing the implementation of functions, it is necessary to seriously check at which hierarchical level of management the organization's strategy is implemented, and at which tactics are implemented.
3. The third type is coordination, or harmonization, i.e. establishing harmony in working together participants in the planned process. When analyzing functions for this type of activity, it is necessary to pay attention to the implementation time. As a rule, in practice this type of management activity is carried out in the course of production process, and not before it starts. From here great amount so-called five-minute sessions, often lasting several hours. Therefore, when analyzing functions, it is advisable to pay attention to the minutes of various meetings, at which mainly expeditiously coordination issues are resolved.
4. The fourth type is activation, or stimulation, i.e. creation of such working conditions under which each employee would work with the highest efficiency.
5. The fifth type of management activity - control - must be especially carefully carried out. In practice, unfortunately, there is a confusion of control and accounting. Often, instead of predicting the progress of work, significant part time is spent on identifying the reasons for the failure of tasks. Control is, first of all, the prediction of deviations and their timely prevention. Preventing deviations is the main task of a perfect management system.

Management presupposes complexity in the implementation of management functions. For effective management it is necessary to consider:

* the entire sum of functions that make up the content of management, and establish the degree of compliance of this sum with the goals and objectives facing this particular management system;
*complexity of the implementation of each function by type of activity, coordination of the shares of the function when they are implemented by different performers and the complexity of performing the function, taking into account the equal intensity of labor;
*procedures for implementing each function in order to simplify and improve the technology for their implementation.

Analysis of the effectiveness of the function will also make it possible to more clearly define the responsibilities and rights of management employees and, on this basis, to design a more rational management system.

Functions are the basis of management. The composition and number of the management apparatus as a whole, as well as the composition and number of employees of its divisions, are determined by the management functions and their constituent operations. Any impact on the managed system can only be implemented through control functions.

The activities of the management apparatus are aimed at uniting in the general flow of managerial work all relatively separate, although inextricably linked management functions. That's why important has an analysis of the functional apparatus of management.

Analysis of management functions makes it possible to systematize knowledge about the dynamics, pace and directions of development, causal relationships and interrelations of functions, and reserves for improving their organization. Analysis of management functions is a component of management, and the results of the analysis are the basis for improvement existing system management.

The choice of object of analysis depends on the objectives of its implementation. It is possible to identify types of work that are closely interrelated and at the same time representing a single management function, to justify system-wide information, and the distribution of rights and responsibilities in the management system. The functions of the entire system are taken as the object of analysis, then a general system analysis. And if it is necessary to substantiate specific information, a subfunction ( functional subsystem), which includes this range of works.

Analysis of individual operations in the workplace is carried out in cases where it is necessary to highlight work that requires equal qualifications of management personnel.

The versatility of the analysis, the need to search for reserves at all levels of management when performing each function require a strict distribution of responsibility between all links in carrying out this analytical work. All departments and services must conduct current, operational analysis and participate in the study of work by function or subfunction, operation. Performance comprehensive analysis assigned to certain services (divisions for organizing management), which must coordinate the work of the management apparatus in accordance with the functions that meet its goals and objectives.

The initial data for analysis can be: the results of a questionnaire or interview; monitoring the progress of management (photos of the working day, long-term observation of the work of a functional department, etc.); document flow analysis; study of regulatory and instructional materials, reports on work performance, conclusions of commissions, minutes of meetings, meetings, etc.

In the process of analyzing management functions, the following are studied:

* compliance of the goals of the managed object with the content of work on management functions;
*content of work of each function at management levels;
*distribution of management functions among departments;
*distribution of rights and responsibilities between employees of the management apparatus;
*connection of control functions.

All these are the main directions of analysis of management functions. Regardless of the object, methods and directions of implementation, it must be carried out in strict sequence: an analysis program is drawn up, initial data are selected and studied, the results of the analysis are summarized and appropriate recommendations are given.

The results of the analysis of control functions can be expressed as:

*functional (economic-organizational) management model, which reflects the relationship between management functions and specific performers;
*functionogram (functional diagram), which shows how static divisions are interconnected;
* work schedule (network or calendar), reflecting the dynamics of work execution and their interrelation.

The result of the analysis may be activities aimed at:

*department of auxiliary and routine settlement works;
* rationalization of communication between employees and performers;
*emphasis general works for the management system as a whole, the results of which are used by all departments;
*allocation of coordinating cross-functional work.

Thus, the main directions of analysis of management functions are the study of their entire sum, which constitutes the content of management, establishing the degree of its compliance with the goals and objectives facing the management object, as well as improving its organization.

In order to eliminate deviations, the company uses control.

Control is a process that ensures the achievement of the organization's goals. It is necessary to detect and resolve emerging problems before they become too serious, and can also be used to stimulate successful performance.

The control process consists of setting standards, changing the actual results achieved, and making adjustments if the results achieved differ significantly from the established standards.

Managers begin to exercise the control function from the very moment when they formulated goals and objectives and created the organization. Control is very important for an organization to function successfully.

Control function- this is a management characteristic that allows you to identify problems and adjust the organization’s activities accordingly before these problems develop into a crisis.

One of the most important reasons for the need for control is that any organization, of course, must have the ability to timely record its errors and correct them before they harm the achievement of the company's goals.

Equally important is positive side control, consisting in full support of everything that is successful in the activities of the company. In other words, one of important aspects control is to determine which areas of the company's activities are most effective. By determining the successes and failures of the company and their reasons, we are able to quickly adapt the organization to the dynamic requirements of the external environment.

Control not only allows problems and responds to them in a way that achieves

changes in the activities of our company. Control is a critical and complex function management. One of the most important features control that should be considered first is that control must be comprehensive. Every manager, regardless of his rank, must exercise control as an integral part of his job responsibilities, even if no one specifically instructed him to do so.

Control is a fundamental element of the management process. Neither planning, nor the creation of organizational structures, nor motivation can be considered completely in isolation from control. Indeed, virtually all of them are integral parts common system control in this organization. There are three main types of control: preliminary, current and final. In terms of the form of implementation, all these types of control are similar, since they have the same goal: to ensure that the actual results obtained are as close as possible to the required ones. They differ only in the time of implementation.

R. Lewicky, M. Stevenson and V. Banker (Lewicky et al., 1997) believe that the formation of trust in business relations goes through three phases. At the first stage, when trust has not yet been formed, relationships are built on the basis of calculation. In such relationships, it is assumed that it is not beneficial for the other partner to violate his obligations. If they are not violated, then the process of trust formation will move into the second phase - the knowledge phase. Relationship experience, frequency and depth of contacts and interaction are significant for its course. If trust meets the expectations of the parties, then the third phase begins in the development of relations - identity, which is characterized by recognition of the common values, goals and interests of the interacting parties. Relationships between people who trust each other are characterized by psychological closeness and stability. The authors of the approach note that the pace of transition of relationships from one phase to another can be different, sometimes relationships are interrupted at some stage. It depends on the large number objective and subjective factors.

How to introduce elements of trust into management?
Ideally, the process of transforming into a trust-based organization should go through three stages.
In the first stage, the entire process is initiated by management, which formulates its vision of the key points of a trust-based organization. Then this vision needs to be formalized and ways of communicating it to employees need to be thought through. These actions should not be specified at this stage. What is more important here is to decide on the direction in which the organization will develop in order to become trust-based and effectively functioning. It is also important to motivate middle managers to actively support the transition process.
In the second stage, the concept of a trust-based organization must be communicated to all employees. The main task of middle managers is to constantly stimulate the transition process. Employees should be made aware of the benefits of the concept as quickly as possible and show its positive impact on the work process due to more open communication, greater responsibility for their actions and greater dependence between work and payment. This mobilizes their readiness for change and motivates them to improve their performance.
At the third stage, ongoing events must be constantly assessed. Middle managers monitor staff attitudes towards them. This makes it easy to understand whether the process of transforming into a trust-based organization is going well or not.
NPO management: relying on trust. 2008

Researchers note factors and processes that contribute to the formation of relatively high level trust from the very beginning of interaction between two participants in the organizational structure. Initial trust is formed when following conditions: 1) the existence of a predisposition to trust, a willingness to trust in one of the participants in the interaction; 2) the presence of institutional trust; 3) the presence of categorization processes and illusions of control. Institutional trust arises in situations when a person believes in the existence of objective circumstances that ensure that the interacting parties fulfill their obligations.

The expectation of high trust in the initial relationship will be very weak under the following conditions: 1) when this expectation is supported by only a few previous cases; 2) when it is based on assumptions, assumptions; 3) when the level of risk is high.

How to develop trust in a team: myths and reality
The trust of team members in each other goes through three main stages: calculation, experience, identity.
The calculation stage is based on a kind of balance of all the pros and cons, which the trustor mentally calculates in the event of a partner’s violation of his obligations. Trust at this stage is quite fragile, develops slowly, carefully and can disappear as a result of one wrong step. At the same time, the frequency of contacts in the team and compliance with agreements in small things are fundamentally important for its development: call back on time, send the requested information. The rational component of trust is of primary importance at this time; team members must be convinced of each other’s competence, reliability, and predictability. At this stage, small victories are especially necessary: successfully solving minor problems through joint efforts.
At the experience stage, various guarantees and balances largely lose their meaning, since the partner’s actions in the future can be judged by his behavior in similar situations in the past. At this stage, the importance of the emotional components of trust—goodwill and openness to discussing problems—increases. At the same time, trust increases in serious crises, critical situations, the resolution of which requires mutual assistance. On the contrary, if, when faced with difficulties, managers are “too busy” or are afraid to frankly express their opinions on complex issues, the team risks losing trust forever. As research shows, closeness is the surest way to destroy trust, as it allows team members to attribute any, even the most ridiculous, motives to each other’s behavior.
At the identity stage, team members are a group with unified system values. They understand each other so well and are similar in their assessments of what is happening that they can trust each other to represent mutual interests in relations with other people. At this stage, even serious isolated failures caused by the wrong decisions of one of the group members do not reduce trust if the others are confident that the employee followed the team principles.
Nestik T. A., 2005. P. 33

T. A. Nestik notes that one of the criteria for an employee’s trust in his organization as an employer is how much, from his point of view, he can count on the support of the team. If a person comes to a department and begins to devote himself completely to work, then it is very important whether other employees will support his impulse or, on the contrary, will begin to pull him back, saying that he is “setting them up”, raising the bar, the production rate. The same can be said about some very complex project, when the degree of satisfaction with relationships with management and colleagues within this project affects job satisfaction as a whole.

A. B. Kupreichenko based on the results of his empirical research trust in the organization, as well as theoretical and empirical analysis trust structures formulated some recommendations for the targeted formation of trust components in the business sphere.

One of the main components of trust is the reliability of the interaction partner. It is formed if the parties fulfill their assumed obligations, which are naturally different for different interest groups. The company's clients are interested in fulfilling promises regarding the quality of products and services, prices and terms of transactions. Employees of the company expect stable employment from management, career growth, an objective system of rewards and punishments. Management, in turn, expects high labor productivity, effective training and increasing the knowledge and skills of staff, etc.

An important element of trust based on reliability, notes A. B. Kupreichenko, is providing support and showing care. Thus, enterprises expect understanding and assistance from their partners, shareholders, clients and government agencies in difficult situations: extending loans, deferring payments, maintaining brand loyalty, supporting staff reductions and tolerating temporary losses. For company employees, manifestations of care will be different kinds insurance, job guarantees or additional benefits in case of layoffs, flexible work schedules, various shapes additional holidays etc. The management of the enterprise expects that staff in a crisis situation will support a number of forced measures, for example delaying wages or cutting jobs. An important indicator care is the manifestation of an active interest in work, recognition of merit and personal contribution.

The economic content of the category of trust is of the most specific and applied nature. Confidence in economics can be viewed at different levels. In its most aggregated form, trust can be considered at the micro and macro levels, i.e. at the level of an individual organization and the economy as a whole.
In this sense, increasing the level of trust in organizations depends on creating conditions for a positive solution to key issues of the quality of working life, which is understood as a certain set of employee needs and the degree of their satisfaction. The following are quality of work life indicators published by the Labor Research Institute of America.
1. Fair wage- equal pay for equal work, fairly justified differentiation of wages. It is recommended to take into account the level of individual responsibility for the results of overall work and provide additional remuneration for long service in the company.
2. Additional payment program - payments to the employee and his family in case of illness, as well as paid rest time in connection with holidays, vacations, paid leave for education.
3. Occupational safety and health conditions. This also includes establishing normal duration working day, retirement age and other factors determining the social rights of workers.
4. Job security - ensuring continuity of work experience and employee confidence in his future. Entrepreneurs are recommended to bear part of the costs that arise in connection with a forced change of place of work (additional professional education, retraining).
5. Development of employee abilities - programs to improve general education and professional level, retraining, personal self-realization.
6. Social integration- favorable socio-psychological microclimate; relationships between managers and subordinates that promote frankness and trust, freedom from prejudice and equality of people, regardless of rank and position.
7. Participation of workers in production and property management, encouragement of initiative, promotion of new ideas. The employee’s awareness that the activities of his organization have a positive impact on the development of society.
8. Democracy in production. Employees are provided with rights and privileges arising from their membership in the organization (freedom of speech, the right to non-interference in personal life, non-discrimination and the right to participate in all work-related activities).
9. Lifestyle - work should be a harmonious part of an individual's life. Work schedules, business trips and overtime work must be reasonably balanced with responsibilities to the family, free time, used for recreation and personal development.
Milner Z. B., 1998

One of the significant components of trust in an organization is a sense of unity (identity), the presence of common goals and principles - one company, one vision. A. B. Kupreichenko believes that it is important to develop a corporate spirit among employees of an organization that would balance the interests and goals of individuals, groups and departments. This is created using various means. One of them is to minimize hierarchical and job differences between levels of the organization. This requires both the elimination of a number of status symbols and benefits, and genuine openness and informality of business and personal communication between management and staff.

As additional means A. B. Kupreichenko recommends using special training aimed at developing common goals and setting priorities. Another means of creating a sense of unity is to provide open information about the goals and motives of action of management and various departments. The rapprochement of department employees is facilitated by joint work on a project, targeted meetings to discuss business problems, joint training, informal meetings regarding certain events in the organization, i.e., all possible forms of communication both vertically and horizontally of the organizational structure.

And finally, the third component of trust - predictability, or knowledge - will be formed if the developed strategy is strictly followed, in the absence of sudden changes in course and if any changes are earlier decisions taken will be justified if honest, decent behavior is observed in relation to all stakeholder groups. To purposefully shape the honest and consistent behavior of its employees, the company’s management can apply a number of measures, believes A. B. Kupreichenko. You need to start by demonstrating your own integrity and consistency. In addition, it is important to reward and lead by example those employees who follow these principles. Here, the organization of information flow also plays a significant role. If the company's management does not promptly explain the reasons that caused the change in strategy to its partners and employees, then reliable information will be replaced by rumors, which will have an extremely negative impact on the level of trust.

In order to effectively apply these recommendations in practice, writes A. B. Kupreichenko, it is necessary to clearly understand the characteristics of interacting economic entities, the nature of their connections, mutual expectations and characteristics social groups, of which they are representatives. The set of measures to build trust in the organization must comply with organizational structure and type corporate culture. Important place takes into account the characteristics of the external environment of the company. Thus, for Russian representatives of the business world, the author notes, for economic reasons, a number of ways to build and maintain trust are not yet available, in particular, guaranteed employment, additional payments when reducing staff or taking care of your retirees.

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Introduction to Organizational and Social Design. Financial policy of the organization

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