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(QAHE7SL04) Financial Strategy and Governance for Leaders Assignment, OU, UK
| University | The Open University (OU) |
| Subject | Financial Strategy and Governance for Leaders |
Financial Strategy and Governance for Leaders (QAHE7SL04)
Introduction
Shop TJC (formally known as The Jewellery Channel) is a part of the group of company limited by shares, started its operation in west London on 4th April 2006. TV Shopping Network Channel now broadcasts to over 30 million homes across the UK and Republic of Ireland to sale jewellery and fashion items. Having own mining facilities, manufacturing and many reputable associations and affiliated i.e., The British Jewellers Association (BJA), the Thai Gem & Jewellery Traders Association, The Jewellers Board of Trade and the International Coloured Gemstone Association make them unique within the jewellery industry worldwide.
For the purpose of the assignment, I will be reviewing and analysing income statement, balance sheet, and statement of cash flows for the years 2020-2023. These financial statements have been prepared in accordance with FRS (The financial Reporting standards) and the requirement of the companies Act 2006, subject to the small companies’ regime in UK.
“Growing Profitably” is a core objective of the financial strategy at Shop TJC, and involves lots of detailed planning, budgeting, cost management with functional & operational managers. Decision-making related to investment, forecasting future financial scenarios for peck sessions and during soft markets and how to manage financial risks is discussed with board members along with possible fundraising(investment) with investors. In other words, A financial strategy defines a clear path for Shop TJC that what we are as a company trying to achieve in short term and long term. Like every business needs a robust financial strategy to support growth, profitable and stay afloat during difficult circumstances.
Shop TJC ‘s investors are provided with previous years audited financial statements, for them to determine the financial viability of the company by reviewing projected revenue, profits, possible expenses, and debt along with upcoming financial strategy, return on investment and growth aspect.
Chef financial office from Shop TJC confirms that financial strategy and governance are all about adding the continues revenue and doing everything as per planned strategy approved by board members as part of the company annual growth strategy. In practices at Shop TJC, its means continues increasing topline and growing bottom line revenue is a unique proposition. Shop TJC follows the definition of Profit Before Taxes (PBT) for its bottom-line performance evaluation. Profit after Tax is not considered as Tax is considered non-operational revenue. There are many operational strategies that were implemented to achieve strong PBT and will be discussing couple of the strategies centered around Profit Before Tax such as setting up multiple micro finance units within business and cash investment.
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