The goal is to increase the efficiency and transparency of financial distribution.
Management principles:
Decentralization of responsibility for finances - it is necessary that each department manager has his own area of responsibility for financial resources.
Detailed financial planning - each department should have a cost planning system both in physical terms and as a percentage.
Evaluation of the efficiency of financial use - several (5 to 7) KPIs should be used, i.e. key indicators that allow one to evaluate the efficiency of financial use in the context of individual work parameters.
This will enable the company to optimize costs, increase profitability, and create conditions for investment and more effective planning.
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Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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Step-by-step guide to creating marketing KPIs
Template for calculating KPIs for a marketer
9 Examples of Universal Selling Commercial Proposals
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How to make KPI for the sales department so that profits grow by 20% or more?
Step-by-step template for calculating KPIs for OP managers
Checklist of 12 main indicators for website promotion
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Types of crisis management
Depending on the type of crisis, as well as the management goals, approaches may vary. There are three main types:
Reactive control
It is usually introduced when the crisis is already gaining momentum and urgent measures need to be taken in a short time so that the company can continue working. Such problems usually appear in the financial sector.
Reactive control
Source: shutterstock.com
Here, work is being done in the direction of preventing business bankruptcy, returning it to solvency and restoring the parameters that were before the crisis. To do this, it is necessary to understand what factors led to the emergence of problems, eliminate them and build an effective business management system.
Preventive management
Such a system of anti-crisis management is based on the assessment of possible threats and the implementation of measures to prevent the emergence of a crisis. In such situations, longer periods are needed for decision-making. This is largely determined by the quality of the analysis to assess the risks of the occurrence of certain events and the timely and effective use of resources to prevent threats.
Often, the financial security of the enterprise is of great importance and it is important to work on its growth. It is also necessary to pay attention to changes in the market situation and respond to them in a timely manner.
Preventive management takes place in situations that differ in the danger of crisis development:
Early management is implemented when a crisis has already begun, which does not yet have a strong impact on the state of the business, for example, there is a drop in demand for the product. At this stage, effective management involves not only achieving stabilization of the situation, but also the active implementation of new methods and technologies.
Weakness management. First, changes in the market are monitored to detect signs of an impending crisis (for example, a small percentage of competing firms selling similar products). In such cases, crisis management is an additional measure to regular management and involves, for example, developing measures to reduce the volume of loans so that the organization becomes more financially stable.