96 Series Economic sciencesIssue 2. 2013UDC 658.15:67 / 68 (477)Khrushch N.A.Doctor of Economics, Professor, Department of Accounting and AuditingKhmelnitsky National UniversityKorpan O.S.Assistant Professor of Commodity and MarketingVinnitsa Trade and Economic Institute KNTEUFINANCIAL STRATEGY IN THE SYSTEM OF CORPORATE MANAGEMENT OF ENTERPRISESStatement of the problem. New economic relation-ships that are created on the basis of the information economy, determine the need for innovative ways and methods of business management. Definitely we can say that in order to achieve a certain goal can move in different ways, and the choice of a particular method of achieving it is a decision relating to a development strategy.The components of enterprise efficiency of any sphere of activity: high competitiveness, solvency, fi-nancial stability and sustainability, profitability and investment attractiveness is achieved through the im-plementation of effective financial management. An essential precondition for strategic opportunities of financial development of the company today serves its financial strategy, which occupies a key position in the system of corporate governance. The balance of corporate interests in corporate governance in general and among its important components including a ma-jor key to the success of the modern enterprise. All of the above, reveals that the need to study the processes of formation and evaluation of financial strategy and corporate governance of companies in their interrela-tion, interdependence and mutual influence in today’s dynamic environment.Analysis of recent research and publications. An important contribution to the development of strate-gies has foreign scientists: I. Ansoff, A. Vihanskyy, A. Gradov, B. Karloff, M. Porter, A. Strickland, A. Thompson, William Sharpe and others. Significant contribution to the development of these problems in-cludes Ukrainian scientists: E. Byeltyukovu, J. Blan-co, M. Voynarenko, V. Hrynchutskomu, A. Kuzmin, V. Oberemchuku, A. Redkin, A. Yastremskyi and oth-ers. Among the most important current research issues shaping the financial capacity and financial strategies companies are working these Ukrainian scientists: M. Bilyk, Blakiti D., J. Britchenka, A. Voronkov, S. Ob-orsky, G. Partyna, A. Cherep, S. Shershnovoyi and oth-ers. The development of scientific methods of doing business strategies Ukrainian and foreign scientists: I. Blahun, P. Grygoruk, K. Izmailov, S. Illyashenko, V. Lukyanov, E.M. Mnich, Orlov, L. Pavlov, E. abundant, G. Savytska, A. Stoyanov, Ivan Tkachenko and oth-ers. The problems of corporate governance in Ukraine studied by W. Green, D. Zadyhaylo, E. Korenev, B. Mazur, V. Stadnik, T. Nazarchuk, L. Fedulov and oth-ers. In the works of these authors considered various aspects of the creation of corporate strategies and busi-ness administration. However, a common approach to the study of the formation of financial strategy in cor-porate business management with regard to relation-ships, interdependence and mutual influences between financial strategy and management system were found. Therefore, theoretical, methodological and practical solution to these problems is urgent and requires fur-ther investigation.Problem. The aim of the paper is the study of the formation of financial strategy in corporate business management. The main objectives of the study are as follows: Set the location and nature of the financial strategy of the enterprise strategic recruitment, de-velopment of institutional mechanism for setting the financial strategy in corporate management, the con-struction of a common model development and imple-mentation of business strategy.The main material of the study. The financial strat-egy of the company is one of the main attractions in the strategic recruitment company, which is a system of different types of strategies, emerging and devel-oping now for a defined period of time specific to the operation and development of the enterprise in order to achieve their goals.Based on a critical analysis of interpretations of this concept by various authors [1, 3, 7] believe that the fi-nancial strategy - a flexible, generic model of financial development company, which aims to implement corpo-rate strategies and the formation of rational financial relationships with contractors, contains a defined term financial targets, technology (tools achievements), re-sources and management system to ensure its viability and adaptation to changes in the external and internal environments [5].The financial strategy of the company as one of the basic (functional) strategies is the component of the overall business strategy and should meet her after aim and objectives. Now is especially important to determine its place in the strategic recruitment companies, includ-ing of some other functional strategies [2, 4, 6, 8, 9].There is currently no consensus on a financial strat-egy among other strategies of the company. We share the opinion of scientists who recognize the financial strategy for the guts to realize all the other strate-gies of the company. This approach M. Kurkina who believes in the overall development of enterprise fi-nancial strategy is the basic element that ensures the effective functioning of other enterprise strategies [7, p. 68]. The same idea was expressed V.I. Aranci and A. P. Zorya that consider financial strategy of the en-terprise core component of the strategy, which «pro-vides through financial instruments, methods, finan-cial management, etc. implementing any core strategy, which aims to make effective use of financial resources and their management» [1, p. 157].Financial Strategy is an integral part of the corpo-rate governance of the company - a form of real im-plementation of administrative relationships. In real-ity management activity - is the system of corporate governance. The corporate governance of the compa-ny - is objectively existing substance through which management takes specific content and expression, and function of government - the practical implementation, it is also functioning in accordance with: the content management features, the nature of relationships that underlie managerial interrelation connections; condi-tions in which emerging management system, princi-ples of construction, operation and processes that are inherently control system.
