The Impact of Strategic Management on the Quality of Financial Decisions
Yasser Azaldin Ibrahim Osman presented on "The Impact of Strategic Management on the Quality of Financial Decisions" at the Gate Academy celebration:
Introduction
Following the financial collapses and economic crises witnessed by many countries in financial markets, with one of the main reasons being the lack of full disclosure and transparency regarding financial information of many companies in financial markets, the concept of financial reporting quality has gained attention from many researchers and professional organizations, especially in the aftermath of the major financial collapses that occurred in the United States and many countries worldwide at the beginning of the twenty-first century.
Accounting standards and principles serve as the regulatory framework for disclosing the outputs of the financial accounting information system represented in financial statements and reports. Therefore, it is natural that the quality of such financial reports is contingent upon the quality and strength of the accounting standards that regulate the preparation of those reports.
Since the success of any project generally depends on successful management that is compatible with the nature and position of the work and employees, it is necessary to coordinate and efficiently utilize all material and human resources in an economical manner, which is what strategic management does. The research studies the impact of strategic management on the quality of financial decisions or the quality of financial decisions in general through an empirical study on one of the Egyptian private companies.
Research Problem
Accounting information is among the most important information relied upon by investors, creditors, financial analysts, and other stakeholders in making decisions. For these decisions to be economically sound, this information must be of high quality. Given that contemporary organizations face numerous challenges and difficulties amidst contemporary environmental changes, the study seeks to answer this main question: "What is the impact of strategic management on the quality of financial decisions?"
Several subsidiary questions stem from this main question, the most important of which are:
1. What is strategic management?
2. What are the risks of strategic management?
3. What are the types of decisions?
4. What are decision-making techniques?
5. What is meant by the quality of financial decisions?
6. What is the importance of the quality of financial decisions?
Significance of the Study
Scientific Importance: This study can be considered a source for researchers and students who wish to learn more about the impact of strategic management on the quality of financial decisions, and this study may serve as a starting point for researchers and interested parties to conduct further research in this field.
Practical Importance: The study may lead to results that can contribute to providing recommendations and suggestions for decision-makers and officials in companies on how to apply strategic management to achieve better financial decisions.