Competitive Financial Theory

While human times enter a new era, the finance with in the meantime is faced the critical choice. It deserves the finance scholar's careful pondering whether this field can leap over the historical stage of development and arrives at a new starting point in the 21st century. It is an inescapable historical responsibility. The financial parading has changed or is changing. The finance management----competition finance management emerges as required, whose intention is for the customer value, and centers on the competitive advantages to develop the competence of core competition and to serve for the business's competition strategy.(I)Opinions of value is the basic concept of competition finance among which the value chain has the most external features. Research on it is to circle around the core competition for the composed value chain and the strategic link in the chain. With to reference of foreign experiences, theories and measures of the advanced financial management, we can set up a Chinese structure of competitive financial management based on the theory and practice about competition competence. "Customers' value" is the key point in the competitive financial management. It refers to the difference between customer profit and customer loss. Customer profit means the total tangible or intangible profits from the products purchased, including the ordinary and special products, services uantities, operation instructions, reputation, trademark and any other elements that the customers consider important. Customer loss indicates the purchase cost, the time and effort to obtain goods and learn to use them and cost after purchase as well. The cost after purchase refers to the cost of usage, maintenance and disposal of the products. Increasing the customers' value means increasing the customers' realization of profit, or reducing the customers' loss, or increasing the customers' realization of profit as well as reducing the customers'bss．Emphasizing customers'value lmphes thatthe competitive inance system shouldprovlde Information on both customers'profitand loss．Collectingthe Information aboutthe customers'loss Is collecting the e扛ernal Information．In a word,the Intention of competition inance management Is to create value for＼',CCstomefS Core competence ofcompetltlon Is the base and driving force of＊theg competition inance．The competltlonfinancetakesthe modem competition andthe strateglctheory as ltstheoretlc basis．Fromthe evolution process,"'competition" rom economics and from management are usually unified In practice．That Is to s盯,requently, It Is important for e血erprlses to make scientific competitive stfategy and strive for competitive advantage wlththe necessary consideration of the competrtlon features．In other words,the competition In market economy(which Is competition economy)has he basic features of wide－rangC,long－term,fairness and cooperation． Underthe market economy whenthere are varied competitive二 entitles and constantly changing opponents,a competitive consciousness must be built In the financial management．Only by making full consideration of＊theeration oPPonents'strategy can an enterprise decide the arrangementic win advantages In competition． Competition and strategy supplement e肌h other．The competition ifl3flCC ltSClf Call bC tskCfl SS thC COffiblflCd OlltCOffiC Of fill＆flC181 manageme血 and competition strategy．Inthepractlce ofcompetltlon inance, enterprises set lip relative forecast and decision－making model drawing sllpport from the competitive strategy,and build relative financial strategycenteringaround developingthe ability of its core competence ofcompetltlon to win orkeep domlnantposltlon Inthe...