Financial Strategy & Planning

Financial strategizing contributes to profits.

Financial strategy and planning can benefit corporations and individuals alike. Depending on an individual's or company's circumstances, specific strategies may be employed which contribute to financial sustainability.

Details

Strategic planning ideally involves improving, maintaining or accelerating market leadership, profitability and growth projection, notes "The Recruiting Guide to Investment Banking." Such planning involves not only physical growth in terms of geographic expansion, but also widening out in innovation and market adaptability.

Distinction

While strategic planning encompasses long-term goals and advancement, financial planning typically constitutes short-term goals and daily affairs of business. Yearly budgets, employment goals and market-share targets may comprise a company's financial planning.

Benefits

In a business context, those who effectively implement strategic and financial plans will see increases in profit and market domination, while individual employees often see raises in salary or stock options, promotions and company recognition. For individuals, those who've effected a successful strategy may experience an early and/or more comfortable retirement and more financial assets at their disposable.

References

• "The Recruiting Guide to Investment Banking"; Jerilyn J. Castillo, Peter J. McAniff; 2006
• "Contemporary Strategy Analysis"; Robert M. Grant; 2005
• Charles Schwab: Sophisticated Estate Planning Strategies