随着经济繁荣发展以及居民消费水平不断提高，我国服装业已经迎来迅猛发展时 期。但近年来，在经济转型和消费升级的大环境下，服装业需要面临国内外两大市场 中的新变动、新考验。多数服装企业在发展期间面临诸多困扰，例如：生产成本提高、 毛利额下降及库存压力大等。这些问题不容忽视。作为国内目前极具发展活力的服装 企业之一，H 公司同样也有着与同业者相似的问题。本文将哈佛分析框架运用到 H 公司，对其财务战略进行了深入研究。 首先，本文对研究背景与意义进行了阐述，并对国内外相关研究成果进行评述。 然后，通过对哈佛分析框架和企业财务战略两大理论进行阐述，研究分析出企业制定 财务战略的程序同哈佛分析框架分析的内容相对一致的关系，这说明在制定财务战略 时可以将哈佛分析框架作为基础是切之可行的。接下来本文以 H 公司的实际情况作 为案例进行哈佛框架分析，围绕其公司战略、会计要素、财务状况以及发展前景这四 大核心要素逐一进行。进而发现 H 公司所面临的财务战略问题。借此确定符合 H 公 司以产品为主的从集中化战略向多元化战略转型的财务战略目标，并提出适于 H 公 司实际发展情况的稳健扩张型财务战略，最后探究 H 公司财务战略的实施保障对策。 希望通过本文的研究，能够更为清晰，更加全面的将 H 公司的经营发展态势呈现给 公司的管理层，使其能够为公司决策提供有利的参考，同时制定出更加合理更为科学 的财务战略，保障公司运营，提高企业的价值。为 H 公司在服装行业竞争格局中， 不断突破、不断创造新动力，完善自身经营，形成核心竞争力，取得优势地位，做出 了有利探索。 关键词：财务战略，H 公司，哈佛分析框架，财务分析II Research on Financial Strategy of H Company under Harvard Analysis Framework Abstract With the prosperity and development of the economy and the improvement of residents' consumption level, China's clothing industry has ushered in a period of rapid development. However, in recent years, under the general environment of the economic transformation and consumption upgrading, the clothing industry needs to meet the new changes and tests in the two major markets at home and abroad. Most garment enterprises are faced with many problems during the development period, such as the increase of production cost, the decrease of gross profit, and the pressure of inventory. These problems cannot be ignored. As one of the most dynamic garment enterprises in China, H company also has similar problems with its peers. In this paper, Harvard analysis framework is applied to H company, and its financial strategy is studied in depth. First of all, this paper describes the research background and significance, and reviews the relevant research results at home and abroad. Then, through the elaboration of the two major theories of Harvard analysis framework and enterprise financial strategy, this paper studies and analyzes the relationship between the process of making financial strategy is relatively consistent with the basic content of Harvard analysis framework, so it can be regarded as the basis of financial strategy formulation. Next, this paper uses the actual situation of H company as a case to analyze the Harvard framework, and focuses on the four core elements of its company strategy, accounting elements, financial status and development prospects. Then discovering the financial strategy problems that H company faces. In this way, it is determined that it is in line with the company H's product-oriented financial strategy goal from the centralized strategy to the diversification strategy. And put forward the steady expansion financial strategy suitable for H company's actual development. Finally, the paper explores the implementation of H company's financial strategy. It is hoped that through the research in this paper, it will be possible to more clearly and comprehensively present the operation and development situation of H company to the company's management, so that it can provide a favorable reference forIII company's decision-making, and at the same time formulate a more reasonable and scientific financial strategy, protect the company's operations and increase its value. In the competition pattern of the apparel industry, H company will continue to make breakthroughs, create new driving forces, improve its own operations, form core competitiveness, obtain an advantageous position, and make favorable explorations. Key Words: Financial Strategy, H Company, Harvard Analysis Framework, Financial AnalysisIV 目录 摘要........................................................................................................................................I Abstract..................................................................................................................................II 第 1 章 绪论......................................................................................................................... 1 1.1 研究背景与意义 .................................................................................................... 1 1.1.1 研究背景 ..................................................................................................... 1 1.1.2 研究意义 ..................................................................................................... 2 1.2 国内外研究综述 .................................................................................................... 3 1.2.1 国外文献综述 ............................................................................................. 3 1.2.2 国内文献综述 ............................................................................................. 4 1.2.3 国内外相关研究评述 ................................................................................. 6 1.3 研究内容与方法 .................................................................................................... 6 1.3.1 研究内容 ..................................................................................................... 6 1.3.2 研究方法 ..................................................................................................... 7 1.4 创新点 .................................................................................................................... 8 第 2 章 哈佛分析框架及企业财务战略相关理论阐述..................................................... 9 2.1 哈佛分析框架基本理论 ........................................................................................ 9 2.1.1 哈佛分析框架的界定 ................................................................................. 9 2.1.2 哈佛分析框架的内容 ............................................................................... 10 2.1.3 哈佛分析框架的优势 ............................................................................... 12 2.2 企业财务战略相关理论 ...................................................................................... 13 2.2.1 企业财务战略含义 ................................................................................... 13 2.2.2 企业财务战略的分类 ............................................................................... 13 2.2.3 企业财务战略制定原则 ........................................................................... 14 2.3 哈佛分析框架和企业财务战略的关系 .............................................................. 15 第 3 章 H 公司的哈佛框架分析....................................................................................... 17 3.1 H 公司的概况 ....................................................................................................... 17 3.1.1 公司简介 ................................................................................................... 17V 3.1.2 经营模式 ................................................................................................... 17 3.2 H 公司的战略分析 ............................................................................................... 18 3.2.1 服装零售行业分析 ................................................................................... 18 3.2.2 H 公司竞争战略分析——SWOT ............................................................. 19 3.3 H 公司的会计分析 ............................................................................................... 22 3.3.1