|
Business Partnering
Business partnering is the development of successful, long term, strategic relationships between customers and suppliers, based on achieving best practice and sustainable competitive advantage. The term also refers to a business partnering support service model, where professionals such as human resource management, HR staff work closely with business leaders and line management, line managers to achieve shared organisational objectives. In practice, the business partner model can be broadened to include members of any business function, for example, Finance, IT, HR, Legal, External Relations, who act as a connector, linking their function with business units to ensure that the technical, or functional, expertise they have to offer is placed within the real and current concerns of the business to create value. Mission The mission of business partnering and the key-aspects of the discipline have been developed recently in the tourism field. The mission of business partnering (for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FP&A
Financial planning and analysis (FP&A), in accounting and business, refers to the various integrated financial planning, planning, financial analysis, analysis, and Financial_modeling#Accounting, modeling activities aimed decision support, at supporting Corporate_finance#Outline, financial decisioning and management Chief financial officer#Role, in the wider organization. See for outline, and aside articles for further detail. In larger companies, "FP&A" will run as a dedicated area or team, under an "FP&A Manager" reporting to the CFO. FP&A is distinct from financial management and (management accounting, management) accounting in that it is oriented, additionally, towards business performance management, and, further, encompasses both Qualitative research, qualitative and Quantitative analysis (finance), quantitative analysis. This positioning allows management—Business_partnering#Financial_business_partnering, in partnership with FP&A—to preemptively address issue ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Financial Officer
A chief financial officer (CFO) is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances; i.a.: financial planning, management of financial risks, record-keeping, and financial reporting, and, increasingly, the analysis of data. The CFO thus has ultimate authority over the finance unit and is the chief financial spokesperson for the organization. The CFO typically reports to the chief executive officer (CEO) and the board of directors and may additionally have a seat on the board. The CFO directly assists the chief operating officer (COO) on all business matters relating to budget management, cost–benefit analysis, forecasting needs, and securing of new funding. Some CFOs have the title CFOO for chief financial and operating officer. In the majority of countries, finance directors (FD) typically report into the CFO, and FD is the level before reaching CFO. Legal requirement The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Resource Management
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and employee benefits systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and governmental laws. The overall purpose of human resources (HR) is to ensure that the organization can achieve success through people. HR pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Alliance
A strategic alliance is an agreement between two or more Legal party, parties to pursue a set of agreed upon objectives needed while remaining independent organizations. The alliance is a cooperation or collaboration which aims for a synergy where each partner hopes that the benefits from the alliance will be greater than those from individual efforts. The alliance often involves technology transfer (access to knowledge and expertise), economic specialization, shared expenses and shared risk. A strategic alliance will usually fall short of a legal partnership entity, agency, or corporate affiliate relationship. Typically, two companies form a strategic alliance when each possesses one or more business assets or have expertise that will help the other by enhancing their businesses. Strategic alliances can develop in outsourcing relationships where the parties desire to achieve long-term win-win benefits and innovation based on mutually desired outcomes. This form of cooperation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Partnering
Construction partnering is a type of business partnering used in the architecture, engineering and construction industry. Partnering is intended to assist project teams with setting goals, resolving disputes and improving project outcomes. The construction partnering team is made up of the project’s owner (client), the consulting engineers and/or architects, the contractor(s) and other key project stakeholders. Construction partnering has been used both in the United States and elsewhere since the early 1980s as a methodology to reduce litigation and improve productivity. Objective The objective of construction partnering is to reduce project costs and schedules, eliminate change orders and claims, and improve communication by developing mutually agreed upon project and partnership success goals and by monitoring the achievement of these goals for the duration of the project. The construction partnering team will also develop an agreed upon process for resolving disputes should t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Partner
A business partner is a commercial entity with which another commercial entity has some form of alliance. This relationship may be a contractual, exclusive bond in which both entities commit not to ally with third parties. Alternatively, it may be a very loose arrangement designed largely to impress customers and competitors with the size of the network that the business partners belong to. Partnership formation A business partner or alliance can be crucial for businesses. However, businesses can not choose business partners, called business mating, in any way they want. In many instances, the potential partner might not be interested in forming a business relationship. It is important that both sides of the agreement complement each other and have some common ground, for example in management style, mindset, and technology. If, for example, management style would be too different between the firms, then a partnership could be problematic. Kask and Linton (2013) investigate under ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Strategy
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies three principles underlying strategy: * creating a " unique a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Analysis
Financial analysis (also known as financial statement analysis, accounting analysis, or analysis of finance) refers to an assessment of the viability, stability, and profitability of a business, sub-business, project or investment. It is performed by professionals who prepare reports using ratios and other techniques, that make use of information taken from financial statements and other reports. These reports are usually presented to top management as one of their bases in making business decisions. Financial analysis may determine if a business will: *Continue or discontinue its main operation or part of its business; *Make or purchase certain materials in the manufacture of its product; *Acquire or rent/lease certain machineries and equipment in the production of its goods; *Issue shares or negotiate for a bank loan to increase its working capital; *Make decisions regarding investing or lending capital; *Make other decisions that allow management to make an informed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Support System
A decision support system (DSS) is an information system that supports business or organizational decision-making activities. DSSs serve the management, operations and planning levels of an organization (usually mid and higher management) and help people make decisions about problems that may be rapidly changing and not easily specified in advance—i.e., unstructured and semi-structured decision problems. Decision support systems can be either fully computerized or human-powered, or a combination of both. While academics have perceived DSS as a tool to support decision making processes, DSS users see DSS as a tool to facilitate organizational processes. Some authors have extended the definition of DSS to include any system that might support decision making and some DSS include a decision-making software component; Sprague (1980)Sprague, R;(1980).A Framework for the Development of Decision Support Systems" MIS Quarterly. Vol. 4, No. 4, pp. 1–25. defines a properly termed D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Finance
Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analysis used to allocate financial resources. The primary goal of corporate finance is to Shareholder value, maximize or increase valuation (finance), shareholder value.SeCorporate Finance: First Principles Aswath Damodaran, New York University's Stern School of Business Correspondingly, corporate finance comprises two main sub-disciplines. Capital budgeting is concerned with the setting of criteria about which value-adding Project#Corporate finance, projects should receive investment funding, and whether to finance that investment with ownership equity, equity or debt capital. Working capital management is the management of the company's monetary funds that deal with the short-term operating balance of current assets and Current liability, cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Startup Company
A startup or start-up is a company or project undertaken by an Entrepreneurship, entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to Initial public offering, go public, startups are new businesses that intend to grow large beyond the solo-founder. During the beginning, startups face high uncertainty and have high rates of failure, but a minority of them do go on to become successful and influential, such as unicorn (finance), unicorns.Erin Griffith (2014)Why startups fail, according to their founders, Fortune.com, 25 September 2014; accessed 27 October 2017 Actions Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve a problem. The founder of a startup will do the market validation by problem interview, solution interview, and building a minimum viable product (MVP), i.e. a prototype, to develop and validate thei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
