渠道管理视角下Z房地产公司的营运资金管理研究
摘要
在我国，房地产业作为经济发展的中坚力量，同时也事关民生大事，历来都受到
国家的高度关注，尤其是在过去几年里，国家以“房住不炒”为政策导向，从限贷、
限购、土地供应、市场监管等方面对房地产市场进行调控。基于此背景下，银行等金
融机构都逐步缩减了对房地产业的贷款规模，这对于严重依赖信贷资金的房地产企业
来说，则意味着融资渠道的闭塞和融资成本的增加，许多房地产企业纷纷陷入了资金
周转不畅的尴尬境地。
对于包括房企在内的所有企业而言，营运资金都是非常重要的，其周转越是顺畅，
则往往可以为企业创造大量的利润，是企业实现长远有序发展的关键所在。同样的道
理，如果企业的营运资金不足，那么企业的正常生产经营活动必然会受到牵连，严重
的将会被迫停产、倒闭。所以，营运资金管理是所有企业都必须予以高度重视的。作
为一家上市不久的房地产企业Z房地产公司，上市一年即降速增长，该公司的营运资
金管理成为管理层高度重视的问题。因此，本文对Z房地产公司在提高营运资金周转
能力、防范资金运营风险方面进行了探讨。
目前，很多关于营运资金管理的研究，要么研究视角非常狭窄，要么研究内容与
企业实际不符，难以达到当前时代企业管理的目标。因此，本文以Z房地产公司为例，
在依据渠道管理理论的基础上，联合了业务流程和营运资金管理，深入分析了近几年
Z房地产公司营运资金总规模以及各渠道营运资金的总体状况。通过分析结果得知，
Z房地产公司存在诸多不良问题，如融资渠道单一、存货积压等等，对此，为提高该
公司营运资金管理水平，本文提出了针对性的解决措施。
关键词：营运资金管理；渠道管理；房地产公司
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渠道管理视角下Z房地产公司的营运资金管理研究
ABSTRACT
In China, the real estate industry as the backbone of economic development, but also
related to the livelihood of the people, has always been highly concerned by the country,
especially in the past few years, the country to“ Housing not speculation” as a
policy-oriented, from the restrictions on loans, purchase, land supply, market supervision
and other aspects of the real estate market regulation.Against this background, banks and
other financial institutions have gradually reduced the scale of loans to the real estate
industry, which means the blockage of financing channels and the increase of financing
costs for the real estate enterprises that rely heavily on credit funds, many real estate
companies have fallen into the awkward situation of poor capital turnover.
For All enterprises, including housing enterprises, working capital is very important,
the more smooth its turnover, it can often create a large number of profits for enterprises,
enterprises to achieve long-term orderly development is the key.Similarly, if the enterprise
operating funds are insufficient, then the normal production and operation activities of the
enterprise will be affected, serious will be forced to stop production, bankruptcy.Therefore,
working capital management is all enterprises must be highly valued. As a real estate
company Z which has been listed for a short time, the operating fund management of Z
Real Estate Company has been paid more attention to.Therefore, this article has carried on
the discussion to Z real estate company in the enhancement working capital turnover
ability, the guard fund operation risk aspect.
At present, a lot of research on working capital management either has a very narrow
perspective, or the research content is not in line with the reality of the enterprise, it is
difficult to achieve the goal of enterprise management in the current era.Therefore, this
article takes the Z real estate company as an example, on the basis of the channel
management theory, has united the business process and the working capital management,
this paper analyzes the total working capital scale of Z real estate company in recent years
and the general situation of each channel working capital.According to the analysis results,
Z real estate company has many bad problems, such as single financing channel, overstock
and so on. In order to improve the level of working capital management of Z real estate
company, this paper puts forward some countermeasures.
KEYWORDS: Working capital management; Real Estate Company;Channel Management
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