【正文】 的清新因子。想要的，不想要的，界限明確，好像沒有什么可以撼動自己。 Junior high school, thought to have a crush on just means that the real growth, but over the past three years later, his writing of alumni in peace, suddenly found that isn39。s governing body, has also ordered an immediate investigation into the referee39。t appealed against the disciplinary action your employer has taken against you. However, if you win your case, the tribunal may reduce any pensation awarded to you as a result of your failure to appeal. Remember that in most cases you must make an application to an employment tribunal within three months of the date when the event you are plaining about happened. If your application is received after this time limit, the tribunal will not usually accept it. If you are worried about how the time limits apply to you, take advice from one of the anisations listed under Further help. Employment tribunals are less formal than some other courts, but it is still a legal process and you will need to give evidence under an oath or affirmation. Most people find making a claim to an employment tribunal challenging. If you are thinking about making a claim to an employment tribunal, you should get help straight away from one of the anisations listed under Further help. If you are being represented by a solicitor at the tribunal, they may ask you to sign an agreement where you pay their fee out of your pensation if you win the case. This is known as a damagesbased agreement. In England and Wales, your solicitor can39。 四、 結(jié)束語 企業(yè)的成功離不開成功的目標(biāo)戰(zhàn)略，而目標(biāo)戰(zhàn)略的成功離不開成功的財務(wù)戰(zhàn)略。 從籌資戰(zhàn)略看，進入衰退期后，企業(yè)的經(jīng)營狀況逐漸惡化，企業(yè)的經(jīng)營風(fēng)險加大，應(yīng)采取負(fù)債率較高的財務(wù)戰(zhàn)略。這種方法相對于股權(quán)融資來講，有不分散股權(quán)和控制權(quán)的好處，不會對發(fā)行企業(yè)形成追索權(quán)，因而可分散風(fēng)險，以此來改善企業(yè)財務(wù)狀況并提升企業(yè)的經(jīng)營狀況，使企業(yè)的營運進入良性循環(huán)狀態(tài)。當(dāng)企業(yè)面臨比較有利的投資機會，可以采取少分配股利的政策，將留存收益投資于有利的項目。 由于成長期企業(yè)快速擴張，對資金的需求巨大，資金不足的矛盾可以通過以下途徑來解決：一是將大多數(shù)留存收益留于企業(yè)內(nèi)部，二是充分利用財務(wù)杠桿效應(yīng)，適當(dāng)?shù)呢?fù)債籌資，但是要注意賭債率，保證企業(yè)較強的償債能力，過高的負(fù)債無疑會加大企業(yè)的財務(wù)風(fēng)險，不利于企業(yè)的健康發(fā)展，應(yīng)當(dāng)加強負(fù)債管理，降低資金成本和籌資風(fēng)險。主要以自由資本為主，借入資本為輔的戰(zhàn)略，穩(wěn)健集中型財務(wù)戰(zhàn)略下企業(yè)的籌資戰(zhàn)略應(yīng)以內(nèi)部融資為主。企業(yè)管理模式僵化，內(nèi)部的各種隱患開始顯露并發(fā)揮作用，整體抗風(fēng)險能力日趨下降；企業(yè)現(xiàn)金流不暢，籌資能力下降，潛在投資項目尚不確定。企業(yè)開始通過多元化經(jīng)營和不斷創(chuàng)新?；?此，成長期企業(yè)的戰(zhàn)略目標(biāo)是發(fā)展壯大，企業(yè)的主要任務(wù)是擴大市場份額，獲取利潤，增強企業(yè)的競爭力，這一階段企業(yè)的財務(wù)目標(biāo)應(yīng)是在擴大銷售額的基礎(chǔ)上爭取利潤最大化。初創(chuàng)企業(yè)大都處在虧損狀態(tài)，扭虧為盈的關(guān)鍵是擴大銷售額。 企業(yè)的財務(wù)的戰(zhàn)略基于企業(yè)的總體戰(zhàn)略而存在，既是企業(yè)戰(zhàn)略管理不可缺少的組成部分，也是實現(xiàn)財 務(wù)管理的一個重要方面。研究企業(yè)的財務(wù)管理問題，一定要結(jié)合企業(yè) 生命周期， 具體研究和分析 ， 這樣才能 有 針對性地提出解決財務(wù)問題的措施。財務(wù)戰(zhàn)略主要涉及三方面的內(nèi)容，包括籌資戰(zhàn)略、投資戰(zhàn)略、收益分配戰(zhàn)略。 [關(guān)鍵 詞 ] 企業(yè)生命周期 財務(wù)戰(zhàn)略 收益分配 Abstract With the continued strengthening of the strategic management role in the enterprise management, the role of the financial strategy management is also growing. The financial strategy is a major ponent of the strategy for corporate functions layer, the overall strategy of the enterprises, but also has relative independence. Financial strategy mainly involves three aspects, including financing strategies, investment strategies, and ine distribution strategy. Enterprises through the development and implementation of financial strategy, control the overall risk, you can get a sustainable petitive advantage, in order to achieve longterm and stable development. This chapter bines the enterprise life cycle theory, follow the basic law of the financial activities of enterprises, analysis of the characteristics and the advantages and disadvantages of the various stages of formulation with suitable financial strategy designed to promote longterm healthy and sustainable development. [Key words] enterprise life cycle financial financing investment distribution of ine 目 錄 一、企業(yè)財務(wù)戰(zhàn)略與企業(yè)生命周期概述 .................................................................................. （ 1） （一）企業(yè)財務(wù)戰(zhàn)略的定義及類型 .................................................................................. （ 1） （二）企業(yè)生命周期的概念 ............................................................................................ （ 2） 二、企業(yè)在不同生命周期下的財務(wù)特征 .................................................................................. （ 2） （一）初創(chuàng)期企業(yè)的財務(wù)特征分析 .................................................................................. （ 2） （二）成長期企業(yè)的財務(wù)特征分析 .................................................................................. （ 3） （三）成熟期企業(yè)的財務(wù)戰(zhàn)略分析 ......