海尔智家营运资金管理问题研究
Research on Working Capital Management of Haier Smart Home

营运资金管理对企业的长期生存与发展有十分重要的作用，且营运资金在不同的运作特性和经营模式下具有差异性。近些年来，海尔智家在营运资金管理方面一直在吸取自身成功或失败的经验来尝试不断地创新，这些创新对我国营运资金管理方面的理论和实践都有着深远影响。本文以海尔智家为案例企业，运用指标体系对海尔智家的营运资金管理政策进行了调查，并分析了海尔智家的营运资金管理绩效。同时，重点分析了海尔智家在网络战略实施前后的具体情况。研究发现，海尔智家的营运资本管理采用了效率激进的筹资方针和相对谨慎的投资方针，并且海尔智家在实施网络战略后，其营运资本管理表现得到改善，战略变革也取得了成功。最后，为了提高海尔智家的营运资本管理水平，本研究基于对海尔智家目前的营运资金管理的分析提出改进建议。
Working capital management plays a very important role in the long-term survival and development of enterprises. Working capital is different in different operating characteristics and operating models. In recent years, Haier Smart Home has been absorbing its own successful or failed experience in working capital management to try continuous innovation, and these innovations have far-reaching impact on working capital management in China, both in theory and practice. Taking Haier Smart Home as a case enterprise, this paper investigates its working capital management policy by using the index system, and analyzes its working capital management performance in particular the specific situation of Haier Smart Home before and after the implementation of the network strategy. It is found that Haier Smart Home’s working capital management adopts the efficient and aggressive financing policy and the relatively cautious investment policy. After implementing the network strategy, the performance of working capital management in Haier Smart Home is improved, and the strategic reform has achieved success. Finally, to improve the working capital management level of Haier Smart Home, some suggestions are put forward based on the analysis of the current working capital management of Haier Smart Home.