Research On Financial Policy Adjustment Under Strategic Transition

With the deepening of China's economic market and the acceleration of social transformation,market competition is becoming increasingly fierce.The fundamental guarantee for enterprises to stand out in the competition is correct strategic management.When considering the market environment and future development for the purpose of profit,enterprises should make choices on financial policies according to their own operating conditions.Financial policy is closely related to the healthy and stable development of enterprises.It not only belongs to the enterprise strategy,but also restricts and supports the enterprise strategy.At the same time,it also provides a strong guarantee for the long-term planning and overall action of the enterprise.Enterprises need to constantly analyze the internal and external environment,determine and select effective strategies to achieve their objectives,and drive financial policies to make corresponding adjustments,consciously proceed from reality,through the overall planning for the future operation of enterprises,in order to gain advantages in the fierce market competition.Taking Xiamen A Chain eompany as an example,this paper uses PEST model to analyze the external environment of the tobacco industry in which the company is located,and uses SWOT tool to summarize the company's strategy from four dimensions:advantages,disadvantages,opportunities and challenges.It points out the characteristics of financial policy under the strategy of stable company,including financing policy,investment policy,operating capital management policy and dividend policy.Four aspects of benefit distribution policy analysis,found that A Chain's financial policy tends to be stable and conservative.In September 2015,the implementation of tobacco industry market-oriented reform policy has brought serious impact on the operation of A Chain,and the company is facing great difficulties.In order to ensure the normal operation and development of A Chain,the company puts forward the thinking and concrete measures of enterprise strategic transformation from the endogenous direction and the extension direction.In order to coordinate the transformation and change of enterprise strategy,the paper puts forward that A Chain should adjust its financial policy accordingly,and solve the four core problems of realizing strategic objectives,namely,investment,financing,working capital management and dividend distribution,and specifically analyses the effect of policy transformation.In the conclusion part of the study,it is emphasized that only when the enterprise strategy and financial policy are properly coordinated,can the enterprise stand out in an era full of challenges and changes.