Question

Financial Mangers now face a variety of issues with the recent current events of the past few weeks and months. Design a six month financial strategy that you would recommend to your Board of Directors. Your strategy (makeup your own) should include internal and external initiatives. These initiatives should include specific , well explained theories. Address not only financial but employee related topics. Set timelines and target for implementations to gauge a successful outcome.

Answer 1

Financial managers have a lot of uncertainty is regarding past few months due to emergence of the covid-19 and lack of physical operations and it has led to variety of issues.

6 months strategy would involve the following-

A. Reduction in the overall workforce of the companies and it should be trying to focus on those workers who can maximize the rate of the return of the company and assigned with the important tasks.

B. Improvement of the core competitiveness of the company in order to have an competitive edge over the competitors and maximize its rate of return

C. Structuring of the financial plans which will incorporate the the risk exposure of companies into various projects because this changing environment the financial managers need to be highly conservative in order to discount the risk associated with the business

D.being highly flexible to changes of the demand pattern of the new society

E. venturing into the online business can also help the businesses in order to explain their overall reach and market share.

F. It will also be helpful in order to focus on certain consumer groups and deliver the products to them directly and provide them with a large cash discount in order to to enhance the liquidity the overall company