An Innovative Research on the Mechanism of Integrated Strategic Financial Risk Management in the State-Owned Enterprise Group - Based on the Balanced Scorecard
When strategic management becomes the highest level and chief mission of corporate management in the State-owned enterprise group (SOE group), strategic risk management becomes the key stage of strategic management which determines the efficiency of strategic management. Strategic financial risk management in the SOE group which is based on the balanced scorecard (BSC) is the key content of the corporate strategic risk management; it impacts directly on the efficiency of the decision-making and operating of the strategic financial management. This paper studies the formation and efficient implementation mechanism of strategic financial risk management; it orients through the strategic financial risk management view, follows the stakeholders' Win-Win cooperation logic in the SOE group, and regards the efficient allocation of financial-right as a path. The study discloses the connotation of integrated strategic financial risk management in the SOE group based on the BSC; analyses its features including comprehensive idea, systemic structure, process interactivity, controllable efficiency etc.; dissects its operating mechanism of integration-systematization; puts forward the efficient implementation mechanism including interactivity management, contingency management, balanced management, idea management, boundary management and enterprise risk management (ERM) mechanism. In this research, we aim at ensuring that the SOE group can achieve the strategic financial objectives by managing the strategic financial risk effectively