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A historical retrospective and the essence of strategic financial planning

Author

Listed:
  • Olha Nestor

    (Ivan Franko National University of Lviv)

Abstract

The author has reviewed the historical retrospective of strategic financial planning, distinguished the concepts of “strategic financial planning”, “long-term financial planning” and “perspective financial planning” and determined that their use as synonyms is incorrect. The correctness of three-tier financial planning has been justified. The difference between financial planning, financial forecasting and budgeting has been explained. The problem of strategic financial planning, its advantages and disadvantages, has been considered.

Suggested Citation

  • Olha Nestor, 2016. "A historical retrospective and the essence of strategic financial planning," International Economics, University of Lodz, Faculty of Economics and Sociology, issue 13, pages 71-78, March.
  • Handle: RePEc:ann:inecon:y:2016:i:13:p:71-78
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    File URL: http://dspace.uni.lodz.pl:8080/xmlui/bitstream/handle/11089/17924/Nestor%202016.pdf?sequence=1&isAllowed=y
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    More about this item

    Keywords

    strategic financial planning; management tools; historical retrospective;

    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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