Research On Internal Capital Allocation Efficiency Of RF Medicine Under The Transformation Of Refocusing Strategy

With the continuous improvement of our economy,people are paying more and more attention to their health issues,and the medical enterprise enjoys unprecedented development.Pharmaceutical enterprises are seeking strategic upgrading to form long-term competitiveness and seize market opportunities.Under the protection of national preferential policies,some pharmaceutical companies expect to expand their business scale through diversification.The financing demand of enterprises gradually expands,and the external capital market begins to fail to meet the needs of enterprises.Companies need to rely on internal capital allocation to address the financing difficulties they face.In spite of this,there are still frequent cases in the world where the capital chain is broken due to excessive diversification of enterprises.A large number of companies realized the risks of excessive diversification and embarked on the path of refocusing.In the context of nucleation strategy transformation,the specific internal capital allocation behavior of enterprises will also change,which will have a corresponding impact on the efficiency of internal capital allocation.Therefore,it is necessary for this study to deeply explore the influence of strategic reorientation on the internal capital allocation of enterprises,so as to provide ideas for optimizing the internal capital allocation of enterprises.In this thesis,RF Medicine is selected as the case object.Firstly,the theory of strategyoriented internal capital allocation mechanism is used to understand the transformation process of the refocusing strategy of the case enterprise and the current situation of internal capital allocation under the refocusing strategy.It is made clear that the main body of allocation is the group enterprise itself,each subsidiary and each business segment,and the function positioning and allocation method of internal capital during the refocusing period of the enterprise is discussed.Study its internal capital allocation characteristics.Secondly,this thesis continued to explore the specific impact path of RF pharmaceutical refocusing behavior on its internal capital allocation efficiency,and from this impact path,selected corresponding indicators from the group members,business segments,and the enterprise as a whole to measure and evaluate the effect of internal capital allocation efficiency.Finally,it was concluded that the current internal capital allocation of RF Pharmaceuticals is operating efficiently,but in an inefficient state.Thirdly,the reasons why RF medicine’s internal capital allocation has not fully played its role are analyzed.According to the analysis,the insufficient efficiency of internal capital allocation can be attributed to the insufficient capital inflow and allocation risk control of the subsidiary companies,the insufficient attention to core business and the excessive investment in non-core business resources at the business segment level.And the imperfect corporate governance at the whole level of the group led to agency problems and refocusing strategy limited the realization of internal capital allocation function.Finally,based on the identified reasons for the lack of efficiency of internal capital allocation,corresponding suggestions are made to optimize the internal capital allocation of the case company RF Pharmaceuticals:strengthen the capital supervision of member companies,dynamically adjust the capital ratio of each business segment,improve internal corporate governance mechanisms and raise awareness of strategy-oriented internal capital management in order to optimize the internal capital allocation of the company.