Innovation research on value-creating type financial management mode of large chemical fiber enterprises Ã¢ÂÂÃ¢ÂÂbased on case analysis on Hengyi groupAuthor(s): Ni Defeng
Features of chemical fiber industry determine the features of financial management. At present, the chemical fiber industry is facing rigorous business environment, for example, centralized releases of capacity, demand growth slowing down, production cost staying at a high level, which makes the chemical fiber enterprises need to change and update the traditional concept of financial management urgently into value-creating financial management mode. As a leading enterprise in chemical fiber industry, through introducing high-quality talents of financial management, with the help of VBM concept, Hengyi Group takes the lead in developing innovative financial management mode in the industry, establishing value management institutions to undertake the function of creating value directly, supporting the function of creating value indirectly and protecting value from losing so as to promote the enterprise to create the whole value. Such successful practice of value-creating type financial management mode can be taken as reference for chemical fiber enterprises which are staying in the period of industry adjustment to get rid of difficulty, turn a profit and realize transformation and upgrading.