Goals of changing the business ownership structure. Basic concepts of the essence of transformations in an enterprise: reorganization - reforming - restructuring. Organizational structure assessment

• Why bother restructuring a company?
• Which restructuring method to choose
• How to avoid common mistakes

Under company restructuring managers understand different things: from optimizing the organizational structure to managing non-core assets. In this article I will try to clarify the goals and methods of restructuring and talk about common misconceptions and mistakes of managers.

When to resort to restructuring a company

The main goal of company restructuring is to bring the business system into a state that meets the owner’s demands. The difficulty is that owners often find it difficult to give a clear definition of their aspirations and in 99% of cases they want “a big green button - press and it’s done!”

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Also in the article you will find 4 key competencies of the company that need to be adopted.

Since each case is unique, the range of goals and objectives that restructuring programs are designed to solve is, accordingly, enormous. However, there are also constant challenges. For example, obtaining a financial and economic result. It can also be the bankruptcy of an asset to write off debts and tax burdens (the simplest), and increasing the transparency of the company to increase investment attractiveness (the most sophisticated). The owners and management formulate such financial and economic tasks quite confidently. To achieve them, consultants and in-house specialists almost always offer clear solutions, usually involving only partial restructuring. Full-scale restructuring is resorted to when simple operational decisions do not suit the owner.

All methods of company restructuring can be divided into two groups:

• aimed at transforming business infrastructure (asset structure, ownership and property management systems);
• aimed at changing the management system (structure of work, divisions, responsibilities, powers, competencies, etc.).

The division is conditional, since the results can intersect, complement and even contradict each other. Each method has its own limitations, which I propose to talk about in more detail.

Changing business infrastructure

Restructuring methods aimed at changing the business infrastructure are among the most difficult to implement. Contrary to popular belief, achieving the target state of business infrastructure is possible not only through M&A transactions (mergers and acquisitions) or changing the ownership structure. The same goal can be achieved by concluding strategic alliances and resorting to outsourcing (see. table 1). These methods have significant limitations that make them difficult to apply in Russia's dynamic economy. Here are the main ones:

1. Shortage of qualified lawyers on corporate and tax law (Russian and international).
2. Lack of legislative regulation: lack of a sufficient legislative framework, law enforcement practice, and publicly recognized mechanisms for implementing existing laws.
3. Criminalization of the economy.
4. Inability and fear to cooperate. In Russia, as in any country with a young market economy, the entrepreneurial (entrepreneurial) management style prevails, implying the concentration of powers in one place. There is no talk of any delegation of powers (for example, decision-making, performance of supervisory functions). “Withdraw money from the entire clearing” - this is how one entrepreneur defined his strategy, and the overwhelming majority adhere to the same point of view. In Russia, there is virtually no practice of concluding, observing and conscientiously executing long-term contracts, without which neither mutually beneficial strategic alliances nor effective outsourcing are possible.
5. Small planning horizons. Strategic alliances and outsourcing are at least unprofitable in the short term. The real economic effect from such restructuring methods can be obtained in two to three years, and domestic management is still afraid of the unpredictability of the state, although objectively the macroeconomics of Russia has stabilized. In addition, strategic alliances and outsourcing of non-core activities provide relatively low profitability, which makes them unattractive in the fast-growing Russian market.

Change of control system

With the help of the methods of this group, the principles of management within the company, technologies and methods of carrying out activities are revised. Powers and responsibilities are distributed in a new way, physical (measurable) benchmarks and the remuneration calculation system are revised. Conventionally, three types of methods aimed at changing the management system can be distinguished (see. table 2).

Unlike methods of managing business infrastructure, methods of restructuring management systems require the involvement of third-party consultants. Logically, if staff members had sufficient competencies and skills, then reengineering would not be required; specialists should have already carried out the necessary work themselves.

Disadvantages of indicative methods

The main disadvantage of indicative methods is the danger of excessive formalization. When evaluation criteria are formalized, employees strive to achieve indicators, forgetting about the essence of their activities, even if the indicators contradict business goals. And the point is not that employees stop seeing the forest for the trees, but that the system forces them to do so. Let me give you a real example. The financial and economic services of the largest mining and metallurgical company refused to accept a container ship built abroad because its capacity exceeded the planned one. The contract provided for the passage of ice with a thickness of 1.5 meters at a speed of two knots, and during sea trials the ship confidently made three knots. It would seem, rejoice, the ship is going faster, which means it was designed and built to spare. But the economists, as they say, dug their heels in and refused to accept the ship’s acceptance simply because their economic model floated due to the changed speed of ice passage.

Neglect of operational management. This is the second significant drawback of indicative models, caused by the fact that some employees begin to blindly believe in indicators. I oversaw the development and implementation of a balanced scorecard (BSC) at a leading financial services company. Despite the fact that the method is a strategic management tool, the company's management decided to extend its effect to the work of the entire company. As a result, at the third level of decomposition of indicators, the diagram of connections (formal and weakly formalizable) was something vaguely reminiscent of torn lumps of cotton wool. There were so many of these connections that on an A0 printout (120 by 130 cm), some of them could be identified with great difficulty. They tried to correct the situation with the help of a computing system built on SAP solutions, but this only worsened the situation. SAP offers good solutions, but in this case the system has become so complicated that the developers themselves no longer understand where they have what.

There is a danger of going too far when establishing an acceptable level of quality. Often, an expert method is used to determine quality criteria (on which statistical data processing for TQM and SixSigma is based). In other words, quality criteria are determined not on the basis of the consumer’s wishes (it’s expensive to find out), but on the basis of the opinion of authoritative production workers (it’s much cheaper to identify them - the experts are our own employees). Often these are people with a Soviet background who set quality standards so high that the costs of achieving them make production ineffective.

Disadvantages of organizational and technological methods

Reengineering is not suitable for all companies. Standardization, “cutting out excess fat,” and an emphasis only on productive operations are good where there are repeatable processes that can be formalized. For example, in industries that use standard technologies and produce mass-produced and long-lived products. Organizational and technological methods have proven themselves well in large manufacturing enterprises with clearly formed markets and suppliers producing standard products. When cutting out the unnecessary, keep in mind that after classical reengineering, more than 70% of companies experience difficulties in growth and development in the medium term (three to five years) time horizon. Classic reengineering is worth carrying out if you are striving for a short-term (one to two years) economic effect, for example, in order to sell a company at a higher price. For small and medium-sized enterprises that survive on flexibility and mobility, rigid formalization is harmful, it 100% deprives them of their ability to survive.

Organizational and technological restructuring provokes staff turnover. Having formalized and standardized its activities, the company ceases to need specialized specialists. From the point of view of costs and sustainability of the production process, it is not professionals who are more in demand, but computers, robots or low-skilled employees who disciplinedly follow regulations. Employees of enterprises going through formalization procedures understand this very well. As a result, staff turnover increases and the efficiency of the system as a whole decreases.

Disadvantages of humanitarian methods

The main disadvantage is the high degree of social responsibility of the employer. Personnel involved in preparation and decision-making, delving into the goals of the business and considering the company's problems as their own problems will not forgive the employer for neglecting their needs. This will be regarded as nothing less than betrayal. On the other hand, excessive social responsibility of the company and soft-spoken management can lead to passivity of personnel and social dependency.

Humanitarian methods require those who apply them to have high qualifications and iron will. Let me give you an example. In one of the manufacturing companies there was a personnel problem, not even a problem, but a disaster. People were absolutely not interested in their work. In the spring, workers quit and went to plant potatoes, and in the fall, after harvesting, they returned to the enterprise. The owner of the plant categorically refused to increase the wage fund and regularly changed the General Directors of the plant for failing to meet summer targets. A simple and very beautiful solution was found: employees of all four workshops of the plant received a new uniform, and each workshop had its own color. It was strictly forbidden to wear other clothes on the territory. The exceptions were management, guests (necessarily wearing white helmets) and employees returning or going to work. A month later, there was a strict distinction between “friends and foes” based on the color of uniforms, and labor discipline increased. The owner was extremely pleased: even in the city, people began to associate themselves with the plant. The material incentive fund has hardly grown, but the effect has been amazing. The work collectives themselves began to get rid of parasites and drunkards, and several qualified specialists returned to the plant. By spring, when it was time to issue a new set of workwear, the owner decided not to waste money and canceled the color differentiation of the team. In response, the workers created a united and tough factory union, which by the summer forced the owner to increase prices for work. A year later, the plant returned to its previous deplorable state: careless work, general sloppiness and social dependency, but now the interests of the workers, even the last drunkards, were protected. As a result, the plant was sold to a new owner, who dispersed everyone and set up storage facilities in all four workshops.

Always use common sense

Finally, I would like to note once again that restructuring is not a goal, but a means. Management must have a clear understanding of what it wants to achieve in the end. Restructuring is not so easy: you can take a company to new heights, or you can cause irreparable damage to it. You should not blindly follow any one method, denying others - this can lead to the worst consequences. The main thing in the restructuring process is logic and common sense; everything else is just an aid in this hard and painstaking work.

Andrey Krupsky, managing partner
law firm Lemchik, Krupsky and Partners. Structural and Tax Consulting"

What problems were solved by creating a transparent business structure before selling a blocking stake to a strategic investor?

Due to what: changing the ownership structure of companies, forming a management company, creating auxiliary legal entities.

One of the most important stages of almost any project to attract an investor, strategic or financial, is preparing the legal structure of the business. This task did not pass over the group of companies “Our Everything!”*, which specializes in the sale of toys and goods for newborns. The group includes several stores operating in different regions of Russia, as well as a wholesale trading division.

The business needed additional investment to develop its retail network. The owner's plans were to sell 25 percent plus one share to an investment fund with the possibility of repurchasing this share. The fact that implementing such a strategy would not be easy became clear to the holding’s management immediately after the first meetings with potential investors. Despite the fact that from an economic point of view such a transaction was interesting to many funds, they were not ready to invest in a business that did not have a clear, stable legal structure. By the ideal structure, in the most simplified version, many investors mean the following scheme: the owner owns a company registered outside the Russian Federation, which in turn owns 100 percent stakes in legal entities operating in Russia.

initial situation

In the group “Our Everything!” the structure of enterprises was formed spontaneously. Many decisions were made based on immediate problems. For example, when it was necessary to open a new store, a new company was registered, the owner of which was formally a trusted person of the owner of the entire business. The real owner of the group owned only two organizations, on the balance sheet of which were buildings leased to the group’s stores. Another commercial real estate property belonged to the owner directly, without the intermediary of legal entities.

Each of the stores was represented by a legal entity, which in turn belonged to a separate company. The retail sector had two echelons of legal entities (see Diagram 1). Also within the structure of the group there was a wholesale trading company that supplied goods to the holding’s stores and wholesale customers. Plus, the same company sold goods at retail, but through individual entrepreneurs, essentially its own employees.

Scheme 1. Legal structure of the group “Our Everything!” before conversion

The main goal of creating such a complex and completely opaque structure is to hide the existence of the holding from the tax authorities. According to the owner, it is much cheaper for one small store to resolve issues with inspectors than for a group with serious turnover. In addition, this holding structure made it possible to use a wide variety of tax optimization schemes. But this situation did not suit investors. The most promising of the investment funds with which preliminary negotiations were held formulated the following conditions:

• acquisition of a share in the authorized capital of a company, which in fact will receive money from the sale of shares for subsequent investment in the development of the group and owns everything. And it should own all operating units, as well as key assets;
• guarantee of direct control over the use of investments and current economic activities.

In other words, in order to attract investor funds, it was necessary to build a structure in which all companies would be owned by one. This is a classic organizational pyramid, the top of which is a company registered in a foreign jurisdiction and directly owned by the business owner.

Group reform

It must be admitted that it was not easy for the business owner to decide to restructure the legal structure of the business. Transparent relationships between the group's enterprises, on the one hand, made the holding attractive to investors, on the other, created additional tax risks. In particular, the risk of careful control of transfer prices by tax authorities and related claims (Article 40 of the Tax Code of the Russian Federation). However, the group really needed serious investment. Therefore, they did not postpone the reform.

First, a holding company was created in one of the foreign jurisdictions. The same “top of the pyramid” that indirectly owned all the enterprises and assets of the holding on the territory of the Russian Federation. This legal entity established two more foreign companies (see diagram 2). The first, as a result of all the transformations, became the owner of operating companies - shops and a trading house, and the second indirectly received ownership of real estate. This two-level structure guarantees privacy to the owner.

Scheme 2. Legal structure of the group “Our Everything!” after the reform

A classic management company (MC) was formed within the structure of the group. This business unit, like foreign companies, is fully owned by the holding company, but is registered in the Russian Federation. The main task of the management company is the operational management of the group's enterprises. The creation of the management company was also dictated by the requirements of the investor - “control over the use of investments and operating activities.” And the transformations did not end there.

The group refused the services of individual entrepreneurs. All contracts between individual entrepreneurs and clients were terminated and re-signed to a legal entity - a trading house. This was done for several reasons. Firstly, the financial results of individual entrepreneurs cannot be included in the consolidated statements under IFRS, and secondly, from a legal point of view, the owner of the group does not have the opportunity to control the assets that are in the possession of the individual entrepreneur.

During the business reorganization, the number of legal entities was reduced. Business units that performed identical functions were combined within one company. For example, from several stores operating in one region as completely independent enterprises, one limited liability company was created. Depending on the specific situation, certain legal forms of restructuring were used: annexation, merger. True, in some cases such consolidation was impossible. For example, a store has a long-term lease with a third-party landlord who has nothing to do with the group. Turning such a retail outlet into a division of another legal entity would mean that the contract would have to be renegotiated. But the management was not confident that the owner of the premises would agree to maintain the previous conditions and would not take advantage of the situation to, for example, increase the rent.

The trading company has undergone virtually no changes. The only thing worth mentioning is that within this legal entity a division was created that was responsible for the centralized procurement of goods for all stores. This, in turn, made it possible to slightly reduce the prices of purchased goods due to economies of scale.

After all these transformations were completed, the nominal store owners (those trusted people of the business owner) sold “their” shares to a foreign company - “the owner of the operating units.”

Order in documents

The creation of a holding company with transparent ownership and management mechanisms must be accompanied by the adoption of corporate documents describing the content of these mechanisms, the powers of company managers, etc. In the case of “Our Everything!” it was quite painstaking work. It was necessary to develop regulations on boards of directors, audit commissions, and supervisory boards.

In addition, we had to carefully define the powers of the management company. On behalf of the stores and the trading division, we entered into management agreements with the management company. By the way, the directors of these operating divisions were transferred to work in a management company, where they received the status of managers. In essence, they continued to manage the same business units as before, but under the supervision of the general director of the management company. And such changes for the holding “Our Everything!” only benefited. The fact is that before the reform, there were two precedents in the group’s practice when store directors abused their powers (embezzlement, concluding large deals unprofitable for the business, hiring relatives with inflated salaries). The emergence of supervision has made it possible to minimize the risk of such violations.

The formalization of relationships between the holding companies was also not possible. The fact is that the legal entities included in the group interacted with each other much more closely than it looked on paper. For each such situation, appropriate agreements with the necessary annexes were drawn up. For example, a sales department, whose employees were registered in one organization, sold goods that in fact belonged to another company, of course, from among the holding’s enterprises. To form a clear position on the basis of such relationships, agency agreements were drawn up between these legal entities.

Another example is that agreements were reached with a number of suppliers to provide bonuses and discounts, but the conditions for their provision and the amounts were not legally fixed. We had to renegotiate contracts.

The documentation establishing the labor relationships of the established companies with the staff was almost completely reworked - employment contracts, job descriptions, regulations on departments, etc. And during the reform, special attention was paid to the registration of top managers.

An audit of registration of rights to intellectual property has also become an integral stage in preparing a holding company for raising capital. In the case of the group “Our Everything!” this concerned, first of all, the trademark, which had to be not only correctly registered, but also the rights to use it had to be recorded.

In practice, each of the stores used a single brand for the entire holding, but had no formal basis for this. To solve the problem, a single standard franchise agreement was developed. It was concluded between the copyright holder company, which owns the trademark, and the stores.

Project results

The result of the reforms was that the group attracted an investor (investment fund), who acquired 25 percent plus one share of the holding company.

Under the terms of the agreement, the investor also assumed obligations for additional financing of the business in accordance with the business plan. And the business owner received the right to early repurchase of the share sold to the fund after three years at a price determined by an independent appraisal company.

Table. Cost estimate for the project (enlarged)

*The name of the group has been changed to a fictitious one to maintain confidentiality. Any similarities with real-life enterprises with similar names are purely coincidental. – Note ed.

Private equity funds (hereinafter referred to as investors) are interested in purchasing shares of companies with good operating and financial performance, a transparent ownership structure, and minimal legal and tax risks. The decisive aspects when making an investment decision are the commercial and financial characteristics of the business, however, a suboptimal business ownership structure can significantly delay the process of attracting an investor, and in some cases even reduce the indicative price of the business.

The article presents typical business structuring options for the Russian market, which are not optimal from the point of view of investors, and also provides practical recommendations regarding possible areas of pre-sale preparation.

If the company is owned by individuals

Individuals who are the founders of a business may own shares or interests in a Russian company that is an investment target (hereinafter referred to as the target company). This ownership structure is transparent and may be characterized by the absence of legal risks. However, having individual shareholders has a number of disadvantages. Firstly, when selling shares (shares) of the target company, the parties to the share purchase and sale agreement will be individuals, which makes it difficult for the investor to recover certain amounts from the sellers (for example, due to significant violations of the terms of the transaction by the sellers). Secondly, sellers - individuals who are Russian residents, will have to pay tax on income from the sale of shares of the target company at a rate of 13%, when shares of the company are sold by the original shareholders, the amount of tax deductions may be equal to the minimum established amount of the authorized capital paid when creating a company, and the amount of personal income tax payable by individual shareholders may be approximately 13% of the market value of the block of shares being sold.

Failure to pay or incomplete payment of personal income tax by an individual seller of shares may become grounds for challenging the sale and purchase transaction of shares by the tax authorities and lead to the seizure of shares from the investor.

According to current legislation, it is possible to exempt from personal income tax income from the sale of shares (shares) of a Russian company, provided that on the date of sale (redemption) of such shares (participation interests) they were continuously owned by the resident by right of ownership or other property right for more than five years. However, given the restrictions on the application of the exemption in terms of the period of ownership of shares, as well as its extension only to shares (shares) acquired after January 1, 2011, the practical application of this exemption in the near future is not possible.

Considering the above, a business ownership structure that includes a Russian or foreign holding company may be more attractive to an investor than direct individual ownership of shares in the target company.

RECOMMENDATIONS: During pre-investment preparation, the possibility of transitioning from direct ownership of shares by individuals in the target company to a target structure involving a Russian or foreign holding company should be considered.

Merging Segments

In a number of cases, Russian companies concentrate several areas of business within one legal entity. The business purpose of this structuring option may be to protect against a hostile takeover of a high-margin business line, as well as to reduce tax liabilities (for income tax and value added tax) by summing up the financial results of highly profitable and unprofitable activities.

Current legislation provides for the need to disclose information by segments in the financial statements of Russian companies issuing publicly offered securities, while other Russian organizations (except credit institutions) have the right to refuse to disclose information by segments. In this regard, in practice, many organizations decide not to disclose information and not to generate financial indicators by segment.

However, only a highly profitable (and/or rapidly growing) business segment may be of interest to an investor, while purchasing shares of a company that also engages in non-core and/or low-income activities may be unacceptable. The lack of high-quality information about the financial indicators of the target segment may require significant costs at the stage of conducting pre-investment financial research and even become a reason for the investor to refuse the transaction.

Therefore, attracting an investor is usually preceded by the transfer of the target business segment to a separate legal entity (for example, through reorganization in the form of a spin-off or transfer of part of the business to a new legal entity). Such a restructuring can be accomplished without incurring additional tax liabilities, but may require significant time and administrative costs.

RECOMMENDATIONS: if it is intended to attract investments in relation to a separate segment, the preparation of high-quality financial information on the target segment and/or the pre-sale separation of the target segment into a separate target company can significantly increase the chances of successfully attracting an investor.

Functional specialization

A number of Russian holdings are characterized by the specialization of companies, when some of them carry out operational (trading, production) activities, while others own significant assets (intellectual property, real estate, production facilities, etc.). The main business purpose of such separation is to protect assets from commercial risks, including claims from buyers, as well as from raider takeovers.

However, from the investor’s point of view, the artificial distribution of a business into several legal entities entails the need to purchase shares of not one, but several target companies. In addition, functional specialization entails the need to establish relationships between group companies regarding the use of assets and the redistribution of funds, which can lead to transfer pricing risks.

In this regard, an investor may be interested in consolidating the business being the object of investment at the level of one Russian legal entity (Russian operating company) or consolidating the ownership of functionally specialized companies at the level of a single holding company.

In particular, the consolidation of a group of companies with functional specialization can be resolved by merging the companies of the seller's group with one of the companies, which, after completion of the reorganization, will become an object of investment. Merger in itself does not entail the emergence of additional tax obligations and leads to the arithmetic addition of the tax balances of the merging companies at the level of the merging company. However, when one legal entity merges with another, the legal successor of the merged legal entity in terms of payment of taxes is recognized as the legal entity that merged it. That is, all historical tax risks of the acquired organization are transferred to the acquiring organization. Accordingly, if such historical risks are significant, accession cannot be considered the optimal direction of pre-sale preparation. Therefore, before making a decision on merger, you should, at a minimum, assess the size and nature of the historical tax risks of the reorganized companies.

In this topic you will learn:

Organizational goals There is specific end states or desired result , the achievement of which seems valuable and encourages a group of people to work together.

Marvin Weisbord believes that organizational purpose arises as a result of psychological negotiations between “what we want to do” (our value orientations, beliefs, satisfaction, competence) and “what we should do” (environmental demands, vital needs, etc.). These negotiations always happen, whether people are aware of it and are discussing it or not. This is how people set priorities. These priorities determine the ongoing activities of the organization. If the above negotiations were carried out unconsciously, then priorities can be inferred based on what people spend time, energy and/or money on, regardless of what they say is important. This kind of approach is most likely a good approximation of "what we want to do", temporarily replaced by "what we are forced to do".

People experience different feelings (mainly anxiety) towards work, which they cannot approach rationally if the goals of the organization remain unclear. Therefore, two critical factors for this cell are clarity of goals And agreement on goals . The more fully these factors are realized, the less anxiety there is.

Setting goals is one way an organization deals with uncertainty. An adequate statement of purpose must always provide the opportunity to delineate the boundaries beyond which an organization's activities are appropriate or inappropriate at a given time and place. Correctly formulated goals reveal the unique features of the organization- that which, in a formal sense, distinguishes it from all others, including its competitors in a given field.

Peter Drucker(2000) suggests that poorly defined or overly broad goals create strained relationships with producers and consumers in a similar way. They interfere with the focus of activity or concentration without which an organization cannot be made to work. Organizations work well when they (1) better than anyone else perform certain functions in which (2) interested sufficient number consumers.

Setting a goal - "what are we doing?" - is always associated with clarification restrictions- "What aren't we doing?" - what you should consciously refuse in order to focus your efforts on the main thing. The goals and restrictions are as follows: main goals in management:

• comparison of the existing state with the desired one;
• guiding requirements for action;
• decision criteria;
• control tools.

The importance of the correct choice of goals is emphasized (2003) by Igor Altshuler: “A start-up company will never achieve serious success if it does not set itself a super task. It is very important to take the goal as far as possible outside the company, then the company’s personnel seem to be fighting against an external enemy. As soon as the external enemy disappears, everyone begins to think only about who gets paid more or who has more power. The further the goal is set for employees, the more likely they are to become a unified team. Firms often explode from the inside because the goal is not set outside of it , - parochial interests win."

What should be effective goals? The concept of SMART -goals (“smart”, an abbreviation for Specific, Measurable, Achievable, Related, Time-bound):

• Specific - be so clear and precise that there is no room for misinterpretation or multiple interpretations;
• Measurable - express quantitatively everything that is possible and even, first of all, subjective expectations, recording what the result could be if the goal is achieved;
• Achievable - both the boss and the subordinate must be sure that the set goal is achievable;
• Related - relate to the strategy, economic goals of the organization, and the interests of the performer;
• Time-bound - determined on a time scale according to the timing of its achievement.

Additionally, if an organization wants to work smarter ( SMARTER ), then its goals must meet two more parameters, they must be:

• Evaluated - carefully assessed by management in the context of the activity process and the results achieved; And
• Reviewed - goals should be periodically reviewed and adjusted in accordance with changes in the external and internal environment of the organization. For example, this may be due to the fact that: fashion is changing; new technologies are being created; customary practices become obsolete; old markets are dying; new markets emerge; people's views change, as a result of which they begin to think differently about what they are doing, etc.

The goals of an enterprise are usually very specific. They should be:

• clear, precise and without the possibility of double interpretation;
• formulated in terms of future states of the enterprise;
• comply with enterprise strategy, policies, plans and procedures;
• correspond to the competence of the personnel or also assume an increase in the competence of the enterprise’s employees;
• meaningful and with an element of challenge, inviting serious work.

In progress goal setting - choosing and formulating goals, it is important to consider the following Aspects :

• Characteristics and quality of targets (complexity, achievability, acceptable losses, deadline for achievement, relevance, environmental friendliness, etc.).
• Restrictions - leader, employees, clients, competitors, society. Projections of goals.
• Systematicity and phasing of goals .
• Migration of goals. False targets. Backup targets. Subgoals. Complex (compound) goals. Trying on goals. Inlaying targets.
• Functional and technical And
• emotional and psychological properties of the target.

Briefly the basics principles of goal setting can be formulated as follows:

• Structuring goals based on a number of criteria (for example, goals can be structured according to at least three criteria: by level of generalization or priorities (corporate, medium and operational level); by areas of activity (financial, marketing, new product development, information equipment, etc. ); according to the direction of the enterprise's efforts (development, stabilization). Such diversity of goals is explained by the fact that any enterprise, like any economic system, is, in principle, multi-purpose);
• Logical consistency and consistency systems goals;
• Complementarity and mutual support of goals at different levels and different areas of activity.

The purpose of the organization acts as a unity of motives, means and results. This means:

• the goal is an objectified motive (need)
• the goal is formed when motives meet means (resources, opportunities, conditions)
• the concept of “goal” is not identical to the concept of “result”. The achieved goal can only be part of the result.

Specifically, the goals of the enterprise can be formulated in the following categories:

• increase in market share by...%;
• increase in sales volumes by...%;
• increase in the growth rate of net income;
• increase in the share of equity capital to...%.
• entering new markets;
• improving the quality of manufactured products;
• reduction of standard customer service time to... days, etc.

G. Goldstein noted the existence of connections between goals. He identified two types of connections:

• vertical (3 levels: lower, intermediate and upper or final);
• horizontal (5 types of correlation: identical, complementary or complementary, competing, antagonistic and indifferent).

Competitive and antagonistic goals usually come into conflict, the resolution of which can be reduced to four strategies:

• dominance - full implementation of some goals, due to partial or complete failure to achieve others;
• overestimation of significance - identification and implementation of the most significant aspects of goals;
• breeding by spheres - ensuring the implementation of goals in private specific areas;
• merger - reformulation of the problem, setting a goal from a fundamentally new position, eliminating existing contradictions.

It is important to note that an organization is a complex of relationships where different individual and collective actors operate, and each of them has their own goals, and they cannot completely coincide. Moreover, contradictions constantly arise between them. An organization is a union of contradictions between the goals, interests, and actions of its participants. You can select four sources of goals in an organization : (Prigozhin A., 2003)

• Owner (or owners).
• Business (as an activity in a social context).
• Managers.
• Staff.

Accordingly, we can distinguish ten groups of possible mismatch of goals in a business organization:

1. Owners' goals - Owners' goals
   • Different strategies.
   • Disagreement over status or profit orientations.
   • Difference in priorities: current or strategic profitability.
   • Disagreements in the distribution of profits for different purposes.
   • Different ownership groups.
2. Owner Goals - Business Goals
   • Disagreements regarding the distribution of profits for new equipment or dividends to shareholders.
   • Difference in priorities: capitalization or business development.
   • The owners are ruining the business by skimping on it.
   • The owners do not know the business and make unrealistic demands on the business.
   • The owner is interested in some client who is unprofitable for the business.
   • The owner closes the business.
3. Goals of owners - Goals of managers
   • The costs of management technologies are not clear to owners.
   • Different ways of business development.
   • The profit center is mine, the cost center is yours.
   • The owners send their people to management.
4. Owner Goals - Staff Goals
   • Spend profits on dividends or salaries.
   • Owners want great workers with low wages.
   • Working conditions and savings.
   • Staff - stability, owner - changes, reorganization
5. Business Goals - Business Goals
   • Sales with deferred payment to some customers and profitability.
   • Conflict between business lines (due to resources, clients).
   • Wholesale trade competes with its own retail.
   • Either growth or development of the client base.
6. Business Goals - Managers Goals
   • Business needs dynamics, and the leader is focused on stability.
   • The business needs reorganization, but for managers this is additional stress.
   • Closing some production facilities for the sake of profitability of the business as a whole.
   • Managers divert resources from the business for their own needs (increasing management personnel, entertainment expenses, new office equipment).
   • Focus on career and business opportunities.
7. Business Goals - Personnel Goals
   Business requires qualifications and technological discipline, but some workers resist.
   • Personnel lack of subjectivity as a hindrance to business development.
   • Incompatibility of personality and function.
   • Business requires funds for development, and personnel requires funds for social programs.
   • Business profitability requires layoffs.
8. Leaders' goals - Leaders' goals
   • The struggle of heads of different services for resources, statuses, powers.
   • Intra-company competition for customers.
9. Managers' goals - Personnel goals
   • Managers strive to provide owners with profitability, while subordinates demand salary increases.
   • Spontaneous control and demand for order.
   • Managers demand full commitment, staff work at the minimum.
10. Personnel Goals - Personnel Goals
    • Private interest groups at the expense of others.
    • Conflict of interests between: earning and providing divisions, purchasing and trading, innovators and conservatives.

Corporate planning involves different levels of scale. However, even in small businesses, it is rare to have just one goal.

The modern concept of managing business organizations suggests that ultimately, management efforts should be aimed at achieving the main economic goal - increasing business value , which consists of two components - the profitability of operations and the level of capital use. Thus, management should primarily strive to increase revenues, reduce costs, shorten the cash turnover period, sell off non-core assets and outsource support functions.

Rice. 5.1. Business Value Increasing Scheme

It would probably be more accurate to say that the pursuit of business value is the goal of the owner rather than the business itself. The owner (founder, investor) creates a business, invites managers or manages it himself, the manager hires staff. All of them are the source of organizational goals. However, the owner, managers, and staff can achieve their goals only through business. And the purpose of the business teleonomic , because business exists only based on the client. If a business does not have a buyer for its product, then the business disappears. It follows that the main goal of a business is to create, expand and develop a customer base. ( Prigozhin A. , 2003).

In general, we can highlight three types of business goals :

• teleonomic - level of survival;
• directed - level of stable functioning in given conditions);
• aspiring - the level of proactive actions.

Accordingly, each type can be considered among the significant internal aspects of the organization :

• levels of goal setting;
• management values;
• management styles;
• management methods;
• types of organizational culture.

Conventionally, this can be presented in the form of a table:

Types of goals	Teleonomy	Focus	Determination
Levels of targeting	"Built-in goals", life support (maintaining integrity, balance, profitability, etc.)	“Tuning” to stable goals (type of clients, services, etc.)	The ability to generate new goals and change conditions
Managerial values	Self-preservation	Select from available options	Changing environment
Management styles	Inactive Maintaining balance and function	Reactive Adaptation to environmental changes	Proactive Formation of the environment (new needs, services)
Management methods	Control	Plan	Shaping the image of the future
Types of organizational culture	Integration "all together"	Professionalism. Quality of work	The ideology of the company. Avant-garde values ​​and goals.

To ensure effective operation, an organization should conduct a diagnostic of its goals from time to time. It is necessary to find answers to the questions: between what goals are there discrepancies? How do all these goals relate to each other? Where are the main contradictions? Between what goals are conflicts brewing? How to coordinate these goals?

Goal diagnostics should find out the following:

• Goal alignment. How consistent is the organization's purpose with its environment? Are there enough customers to ensure the organization's survival?
• Clarity of goals. Is the goal specific enough to include some things and exclude others?
• Agreement on goals. To what extent do people demonstrate agreement with declared goals in their informal behavior?

The main overall purpose of an organization, expressing the reason for its existence, is referred to as its mission . Other goals are being developed to achieve this mission. The mission of organizations exists regardless of whether it is formulated or not. This is what the organization is useful to the surrounding world, something useful (products, services) that the organization exchanges with the external environment to obtain the resources necessary for its own survival. The mission answers the question - what is the main (general) goal of the organization’s activities, which clearly expresses the reasons for its existence, its social significance.

The clear distinction between an enterprise's mission and its goals can be defined in terms of four dimensions:

• Temporal aspect . The mission has no time criteria. Goals are always temporary in themselves and imply a time frame by which they must be achieved.
• Focusing. The mission is aimed at the environment external to the enterprise, such as achieving recognition or becoming a leader in the industry, etc. Goals, on the contrary, most often relate to internal aspects of the enterprise and are expressed in terms of the use of available resources to achieve specific internal indicators.
• Specificity. The mission is expressed in terms that have a general, relative nature, relating to the image of the enterprise, its corporate identity, etc. Goals are typically expressed in terms of specific outcomes. Goals, in principle, presuppose their achievability.
• Measurability . Both mission and goals can, in a sense, be measured. But the measurability of the mission is of a relatively qualitative nature, while the provisions approved in the goals are of an absolute, quantitative nature.

The mission statement should reflect the following semantic parts:

• Company objectives in terms of its main services or products, its main markets and its main technologies. In other words, the mission must show what kind of entrepreneurial activity, what kind of business the company is engaged in.
• The external environment of the company , which defines its working principles. We are talking about the general environment, the industry environment, the competitive environment and maybe the local environment.
• Organizational culture , the working climate that exists within the company and, accordingly, the type of people who are attracted to this climate.

A detailed description of these aspects is given in a document called the firm's mission statement. This declaration includes the following key components:

• Consumers: Who are the organization's customers?
• Markets: Where does the organization compete geographically?
• Products or services: What are the most important products or services the organization offers?
• Technologies: What are the underlying technologies used by the organization?
• Economic goals: What position does the organization take on growth and profitability?
• General concept of the organization: What are the organization's strengths and competitive advantages?
• Image: What public image is desired for the organization?
• Philosophy: What does the organization believe in and what are its core values?
• Efficiency: Does the mission statement take into account the wishes of the organization's key influence groups?
• Ability to inspire: Can a declaration motivate people?

The mission statement must meet a number of requirements:

• Simplicity.
• Ease of transfer.
• Rely on facts - not on thoughts and dreams.
• Shows clearly what to do and what not to do.
• Dynamism.
• Availability at all organizational levels
• Must inspire confidence.
• Unambiguity, inadmissibility of discrepancies.

A limited interpretation of the mission negatively affects the firm's ability to respond flexibly to changing market demands. An expanded interpretation of the mission can significantly reduce the productivity of resource use and ultimately lead to the loss of competitive advantage and bankruptcy of the company.

The complete absence of a mission guarantees the company the presence of ever-increasing problems. The concept of mission is closely related to the concept of the competitive status of the company. Both concepts do not contradict and complement each other. The competitive status of a company answers the questions - how to produce the product or service declared by the company, by what means, in order to maintain a competitive advantage. Both mission and competitive status depend on external factors. The mission is formed in anticipation future opportunities in order to form the strategic potential required for the survival of the company (reflects its expected or desired capabilities). Competitive status depends on the firm's existing strategic potential (its existing capabilities). The mission should indicate a goal, or, in other words, give a forecast of the development of social needs, criteria for their assessment and social significance. The main element of the forecast is the ideal, which denotes not just what will happen, but what should be, what we should strive for. Ultimately, the forecast becomes a matter of conviction and faith.

A correctly formulated and described mission of an organization is a powerful business tool. Three main functions of the mission can be distinguished:

• Gives a general idea of ​​the company (products and services, customers and markets, competitive advantages and uniqueness). Only by the mission statement can a buyer or consumer of a company’s products assess the priorities that guide this company, as well as evaluate the goals and directions of its activities.
• Promotes unity within the company and the creation of a corporate spirit (makes clear the purpose of the company, creates a business climate, establishes the degree of compliance of employees with the requirements of the company).
• Creates opportunities for effective management of the organization (basis for developing goals, standards for resource allocation, specifying the meaning and content of each employee’s activities). The presence of a mission allows the company's management to determine the place that the company should occupy in the market and formulate its strategy for achieving this place; employees of the company - to feel like participants in a common cause in the development of emerging opportunities, gives them a goal, emphasizes their importance, and aims to achieve high results; finally, consumers of the company's products - treat the company with attention and interest, which can satisfy their various needs and requirements, and monitor the company's products. Products and technologies may change, but the needs and demands of the market may remain unchanged.

As an example, here is the mission statement of the famous multinational company Procter & Gamble:

• produce products of the highest quality and consumer value, which contribute to improving the living standards of people in different countries.
• creation of an organization and working conditions that attract the most worthy people, ensuring the fullest development of their talents, free and inspired work for the benefit of the prosperity of the business, preservation and development of the historical principles of an honest attitude to work and the correctness of actions.
• The successful application of our principles will help us achieve the leading position of our products in the market share and profit, which will lead to prosperity for the common cause, workers and employees, shareholders and the communities where we live and work.

A mission is not only a declaration of priorities, but, more importantly, a way of life, an understanding of the world around us and the company and its employees in it. See how the understanding of a business can change on a global scale when the mission statement is changed:

The implementation of the organization's mission and goals is described in the company's business plan. Planning can be carried out at all levels: from the activities of the performer to the master plan for the development of the organization and business.

Historically, planning systems have developed in the following order:

• Budget planning (early 1900s) - preparing annual budgets and controlling variances.
• Long-term planning (early 50s) - forecasts, statistical models, identification of tendencies and tendencies. The assumption is that the external environment has its own dynamics.
• Strategic planning (60s) - here it is no longer a prediction of the future, but an assessment of strategic alternatives and dynamic resource management.
• Strategic management (80s) - it is necessary to ensure the achievement of sustainable competitive advantages (SCA). The company creates its future.
• Change management (XXI century) - you need to be as flexible as possible: structures, culture, thinking, areas of interaction - it is important to be able to quickly change everything. The main value is the client; the company builds the future in an equal dialogue with him. The main objects of planning are the competence of the organization and the competence of employees. Strategies make sense only in short-term periods (up to 3 years).

A detailed, comprehensive, comprehensive plan designed to ensure that an organization's mission is achieved and its goals are achieved is called strategy . Below are the key features of the strategy:

• The strategy considers only vital factors that have a qualitative impact on the success of the organization. All other points remain outside the scope of strategic issues.
• Although the strategy is developed for the most part by top management, the entire organization and, above all, managers at all levels of management must work for its implementation.
• A truly useful and effective strategy must be based on the perspectives of the entire organization, not just individuals, although it is often difficult to separate them.
• Strategic planning is a complex, lengthy and expensive process. Therefore, the results of strategic planning should be actively used by management.
• Having a coherent strategy allows a firm to define its identity, find its footing, develop its specific internal resources and capabilities, differentiate itself from its competitors, and ensure that the specific needs and expectations of target customers are particularly effectively met.
• The strategy must be designed to maintain its integrity over the long term. This can be achieved when strategic plans are sufficiently flexible and allow for modification and reorientation, which is absolutely necessary in the modern business environment.

Among the tools for implementing the strategic plan, it is customary to highlight the following:

• Tactics. There are a number of differences between tactical plans and strategic plans:
  • Tactical plans are designed to achieve supporting tactical objectives.
  • Strategic plans are developed as documents based on independent strategic goals. Tactical plans are always developed as a development of strategic plans and have no independent significance.
  • Strategic plans affect the firm's strategic resources, i.e. expensive and critical to a firm's success. Tactical plans typically involve resources that can be easily acquired on the market and that are not critical to the company.
  • If the organization's strategy is developed and approved at the level of senior management of the organization, then tactical plans, as a rule, are prepared by middle management and can be approved by senior management.
  • Tactical plans typically cover shorter periods of time than strategic plans.
  • The results of the implementation of tactical plans usually appear faster than strategic ones and are clearly correlated with the specific actions of specific performers.
• Policy - provides general guidance for the actions and decisions of the organization's employees.
• Procedures - a pre-developed description of sequences of actions for making a decision in a situation of a specific type.
• Rules - determine exactly what should be done in a specific individual situation.
• Budgets - represent a tool for dynamically managing input and output resource flows in order to balance them.
• Tasks - a prescribed job, series of jobs, or part of a job that must be completed in a specified manner within a specified time frame.
• Management of plan implementation. The tools for responding to deviations in the course of real events from the plan are operational management tools implementation of plans. In the 70-80s, the “Management by Objectives” method gained popularity? MBO, popularized by Peter Drucker. The essence of MBO is that the manager delegates tasks by “negotiating a contract on goals” with his subordinates, without offering them detailed routing in a given direction. The result is important, not the activity itself. This method, however, is only appropriate if the company has competent, highly qualified personnel. It stimulates employee initiative and creativity, but requires a significant amount of time to adequately coordinate and document the process.

Usually, planning flows in several stages :

• Formulating a vision (hypothesis about the future).
• Making a forecast (how realistic this vision is).
• Drawing up a plan (budget).
• Implementation of the plan.
• Accounting and control of results.
• Analysis of results. Summarizing.

Strategic planning begins with a statement visions . A vision is an ideal picture of the future. Vision is the dreams and ambitions of the owner, which reflect the interests of society.

For example, the famous automaker Henry Ford formulated the vision of his business in this way: " I will build a car that is accessible to a great many people. Its price will be so low that any person with a good salary will be able to buy such a car and, together with his family, enjoy the blessed hours of relaxation in the vast open spaces of God... When I complete this undertaking, everyone will be able to afford to own a car and will have it. Horses will disappear from our roads and we will give jobs and good earnings to a large number of people ".

No less interesting is Walt Disney's vision of a fundamentally new amusement park: " The idea of ​​Disneyland is simple. This is a place where people find happiness and learn new things. This is a place where parents and children spend quality time together; a place where teachers and students discover greater opportunities for knowledge and learning. There, older people can quench their nostalgia for days gone by, and young people can enjoy the challenges of the future. There, the wonders of Nature and wonders created by Man will be presented for public viewing and study. Disneyland is founded on and dedicated to those ideals, dreams and hard but true facts that created America. Disneyland's unique equipment will make it possible to clearly demonstrate these dreams and facts, turning them into a source of courage and inspiration for the whole world. Disneyland will be a little bit of a fair, an exhibition, a playground, a community center, a museum of living facts, and a place to see beauty and magic. It will absorb the achievements, joys and hopes of the world in which we live. And he will remind and show us how to make all these miracles part of our lives ".

The vision can be very specific, defining the technical side of the company's functioning, as, for example, at Motorola: " Motorola dreams of a world where phone numbers are assigned to people, not places; in which small, palm-sized devices will allow people to keep in touch with each other wherever they are; in which new communications media can transmit visual images and data as easily as voices ".

At the drafting stage forecast Many different methods are used. One of the most common is the scenario planning method. Scenario planning is a method for constructing alternative options for the future development of the enterprise’s external environment, allowing managers to analyze and make strategic decisions in conditions of uncertainty. Scenarios allow companies to think in terms of the future; they answer the question: how can a company get into an imaginary future and make it real.

Highlight seven steps of scenario development :

• Problem identification. List of key questions.
• Identification of main factors and trends (certain and uncertain), their interdependence
• Ranking factors by importance and priority
• Scenario logic selection. Matrix of main factors. Description of scenarios.
• Analysis of the main factors within each scenario
• Analysis of consequences. Parameter sensitivity. Zones of invariant solutions.
• Selection of indicators and signs for control

Among the most common The following errors can be identified in the scenario approach:

• All scenarios are based on one variable
• Senior management is not involved in scenario development
• The constructed scenarios are obviously not equivalent
• Too many scenarios
• Excessive detail
• Lack of indicators and benchmarks

At the stage budgeting , the management of the organization draws up a detailed business plan, which includes the following sections:

• Introductory part, purpose and essence of the project.
• Analysis of the state of affairs in the industry.
• The meaning of the proposed project.
• Analysis of the market, market forces, opportunities and threats.
• Marketing plan: analysis of consumers, sales channels, description of the marketing mix, assessment of economic factors, formulation of a unique selling proposition, etc.
• Production plan.
• Organizational plan: analysis of the strengths and weaknesses of the organization, plan for human resource needs, description of management, motivation and control systems.
• Risk level and compensation measures.
• Financial plan: cash requirements, distribution of cash flows, financial results.
• Applications.

Is there some skepticism about the success of the business plan? August Scheer believes that “Market processes move so quickly that a business plan drawn up for three years, as a rule, has no chance of being implemented in its original form.”

Therefore, the more significant criteria are:

• Prospects for growth of the market segment in which the company wants to operate.
• The degree of novelty of the primary idea, because it indicates the fundamental ability of the founders to generate ideas
• Managerial qualifications of the founders

If these three criteria are assessed positively, then we can talk about the success of the project. A business plan is more of a formal insurance policy for banks or investors on risky capital.

Dwight Eisenhower - a US Army general who later became president said: “The plan is nothing, planning is everything,” thereby emphasizing the enormous importance of systematizing information in the planning process and the importance of flexibility (the ability to deviate from the plan) of managers.

The successful development of a company leads, for many reasons, to the complexity of various aspects of its business. As a rule, the organizational structure of the parent company becomes more complex, branches and subsidiaries are created or acquired. As a result, the company is transformed into a holding company, and this leads, in particular, to an increase and complexity of its internal document flow. The positive dynamics of sales of products, goods and services is accompanied by an increase in the number of counterparties and an increase in the content of external information flows. The development of the company's business is also accompanied by changes in strategic goals and objectives. The listed factors, along with some others, lead to changes in priorities in business management as it grows.

Changing priorities in business management

If in order to manage a small business it is necessary to organize accounting and tax accounting in all areas, provide for the formation of regulated reporting, as well as maintaining operational records of current activities in the necessary sections with the ability to obtain the necessary data for making management decisions, then for a company with a holding structure this is no longer enough .

The goals of rapidly growing companies often include the development of new territorial market segments, the release of new types of products, business diversification, etc. Achieving the goals set by a growing holding with an extensive structure involves solving problems of formalizing the strategy of a group of enterprises, creating a flexible holding management system, attracting investments and requires the availability of consolidated corporate financial statements.

Corporate financial reporting allows the owners of the holding, creditors, investors, auditors and other external and internal users to obtain a comprehensive picture of the state of the business of a group of companies. It is also used to make informed and reasoned management decisions. In this case, the formation of corporate reporting must occur within an acceptable time frame and be carried out with acceptable costs for its preparation.

At the same time, there are a number of circumstances that prevent the timely receipt of adequate corporate reporting. Different economic entities of the holding, as a rule, apply different accounting policies. At the same time, bringing all entities to a single accounting policy is not always economically feasible, and in some cases, for example, for enterprises under the jurisdiction of foreign states, it is simply impossible. In addition, different enterprises included in the holding may use different systems to automate accounting and management.

As a result, as practice shows, the task of preparing corporate financial statements requires the presence of qualified employees and external consultants, as well as new modern automation tools.

In addition to the preparation of corporate reporting, an urgent task for Russian holdings is also the introduction of such modern management and information technologies as budgeting and a balanced scorecard. The use of budgeting allows you to distribute the resources of a business entity over time in an optimal way. The use of a balanced scorecard allows, using simple and understandable key performance indicators KPI (Key Performance Indicator), to transform the strategic goals of the holding into an operational plan for the activities of individual enterprises, divisions, as well as the main employees of the holding and to monitor their achievement.

The intention of the owners of the holding to receive investments necessary for the implementation of long-term projects, or, for example, to increase the capitalization of the company with a view to its further sale, in some cases leads them to the decision to make an initial public offering of the company's shares on the stock exchange - to the decision to enter an IPO (Initial public offering ).

Preparing for an IPO necessarily implies ensuring business transparency and publicity of the company. As part of solving this problem, it may be necessary to restructure the company in order to transition from the existing structure to a legally transparent and economically sound one. The conditions for preparing for an IPO include the formation of consolidated financial statements of the holding in accordance with Russian and international standards (IFRS), as well as its audit, the introduction of modern corporate management standards and other requirements.

To solve many of the problems described above, the 1C company offers the software product 1C: Consolidation 8. This software product allows you to automate the collection and centralized storage of reports from business units included in the holding, consolidating management and accounting reporting. With its help, you can implement budget management for both individual companies and groups of companies. The program allows you to transform reporting generated according to one standard into reporting according to other standards - RAS, IFRS, US GAAP, etc.

Holding structure, consolidation perimeters

Before starting the consolidation process, it is necessary to determine the subordination structure of the business units included in the holding, and thus obtain an idea of ​​the organizational and economic relationships between them. At the next stage, you need to set the consolidation perimeter, in other words, determine the set of business units for which consolidated reporting will be generated.

The structure of the holding can be different and depends on the specifics of the activity, as well as on the methods of solving management problems. For example, in the simplest case, the holding structure may consist of a parent company and several subsidiaries subordinate to it. This structure ensures transparency of ownership and relative ease of control by owners over all enterprises of the holding.

In a holding with a more complex structure, subsidiaries may be linked by mutual ownership relationships. Many of them may also include minority shareholders. These circumstances complicate reporting consolidation.

In addition, business interests may require generalization of data for organizations segmented according to various criteria - industry, regional, etc. The list of organizations included in the consolidation perimeter may also depend on the users for whom consolidated reporting is prepared.

Business development interests may require the use of a flexible management structure that differs from the organizational one. In this case, there may be a need to consolidate reporting not only of legal entities, but also of branches, separate divisions and financial responsibility centers (FRC). At the same time, CFOs can be of various types - investment centers, income centers, cost centers and profit centers.

The software product "1C: Consolidation 8" is developed taking into account the requirements of modern business, and it can be used to consolidate reporting in all cases described above.

The program provides for the development of reporting forms for business units - organizations within the holding, branches, Central Federal District, etc. "1C: Consolidation 8" allows you to describe various aspects of the organizational and financial structure of the group - the composition of business units, the hierarchical structure of subordination, the consolidation methods applied to business units, as well as the composition of the owners and their shares of ownership of the group's business units.

The perimeters of consolidation are determined - group, subholding, industry or geographic segment. You can support multiple consolidation perimeters in one infobase. This allows you to perform consolidation in stages, generate reporting by segments, etc. The shares of full ownership of each organizational unit of the perimeter on the part of the owners of the consolidation perimeter are calculated, taking into account such complex shares of ownership as indirect and counter.

Depending on the actual degree of control over individual enterprises by the group, the program uses various consolidation methods - “Full Consolidation”, “Equity Method” and “Proportional Consolidation”.

Perimeters are being versioned. This allows you to store the history of acquisitions and disposals of companies within the holding. When consolidating the Income Statement, acquisitions and disposals of the reporting period are taken into account. In this case, the values ​​of the indicators as of the date of acquisition or disposal are recorded or, accordingly, excluded from the calculation.

If the holding enterprises use different accounting policies, then different processing rules are applied to the reports received from them. These rules are defined for individual organizational units or for perimeters and contain algorithms for transformation and consolidation of reporting.

Business Performance Management

The dynamic development of Russian holdings requires a high-quality management system. Modern management practice uses many concepts and approaches aimed at increasing efficiency and ensuring business growth and development. One such approach is budgeting.

Today, budgeting is a management tool for monitoring and planning resources, expressed in quantifiable indicators, designed to achieve the strategic goals of the company.

The introduction of budgeting involves the development of a budget model and regulations for maintaining budgets. The basis for building the budget process is the financial structure. It is important to note that the financial structure does not replicate the organizational one. Centers of financial responsibility can be both individual enterprises and aggregated business units that unite enterprises according to a certain characteristic.

The program "1C: Consolidation 8" allows you to create a financial structure based on the company's development strategy. It is possible to enter budgets in the form of tables, i.e. in a way that is close and understandable to non-financial participants in the budget process. Import of data in different formats from various automated systems is supported.

To achieve the strategic goals of owners, an approach that involves decomposing the main goal is often used. An example of a possible decomposition of the main goal “Net profit growth by 30%” is shown in the figure.

Decomposition of the goal "Net profit growth by 30%"

During the decomposition process, for each goal of the hierarchical tree of goals, a key performance indicator to be strived for is indicated in numerical form.

The methodological budgeting model included in the version of the program "1C: Consolidation 8 PROF" provides examples of key performance indicators (KPIs), formulas for their calculation and business processes that allow you to automatically monitor their achievement. The composition of KPIs given in the budget model can be changed in accordance with the strategic goals of the company.