discuss the importance of the finance function in strategy development

Textbook:
Hill, C., Jones, G., & Schilling, M. (2015). Strategic Management Theory: An Integrated Approach. Stamford, CT: Cengage Learning.
At its heart, this chapter is all about continuing the company’s quest for differentiation and positioning it for the wise use of its resources relative to its competition. It is specifically concerned with matters of finance and the efficient and effective use of the company’s assets and other resources.

  • Chapter 5: Building Competitive Advantage Through Business-Level Strategy.

Articles, Websites, and Videos:
This article gives an excellent description of the critical role played by the finance function in the development of startegies and operational plans It presents a clear b picture of why the finance function is important and how it will blend into and faciltitate the entire process.

  • BlumShapiro. (n.d.). Strategic role of finance.

This article also gives a very clear definition of the role of the finance function in planning and decision making. It is particularly related to this week’s discussion question. This particular model is also rooted in Porter’s Five Forces Model which was introduced in Unit 2.

  • Kono, P. & Barnes, B. (2010). The Role of finance in the strategic-planning and decision-making process. Graziado Business Review, Volume 13 Issue 1.

In a brief essay discuss the importance of the finance function in strategy development. Your essay should address the ideas of the strategic role finance, the level of and type of information desired and the importance of financial literacy and information in the decision making process.
Paper requirements:

  • Approximately 500 words
  • Times New Roman 12 pt font, double spaced, free of spelling and typing errors
  • Fully referenced using APA citation style to acknowledge all source materials
 

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