基于哈佛分析框架下的伊利集团财务分析
发布时间：2018-12-11 04:46
【摘要】：我国人口众多,随着改革开放等一系列战略政策的实行我国国民经济持续发展人民生活水平不断提高,满足了温饱后人民对食品营养健康的要求日益提高,乳制品以其丰富的营养和较高的性价比迅速赢得了消费者的青睐,导致了我国乳制品市场空前扩大。伊利集团是我国乳制品行业中的领军企业,因此对其财务报表分析是十分必要的。本文在对国内外研究现状进行梳理的基础上,运用哈佛分析框架理念,对伊利集团财务报表进行了深入的研究分析。在战略分析层面,主要运用SWOT分析法。研究发现:伊利集团在原材料、战略格局、管理运营和品牌方面具有一定优势;在奶源争夺激烈、人才流失严重、产品个性化和专业化不够突出方面存在劣势;伊利集团的战略机会体现在广阔的市场前景、稳定的外部环境、新兴的销售渠道、优化的产品结构;战略威胁来自于市场监管严厉、潜在进入者的威胁、潜在替代品的可替代性。在会计分析层面,通过会计政策变更和会计信息质量两方面了解伊利集团。在财务分析层面,通过成本费用利润率、销售毛利率、净资产收益率的计算得出企业盈利能力较强管理水平高;资产负债率、股东权益比率、流动比率、速动比率的分析,看出企业现阶段偿债能力较弱但未来会有所提高;应收账款周转率、存货周转率、流动资产周转率和固定资产周转率的变化说明伊利集团营运能力保持着较佳的实力水平;各增长比率的起伏反映出现阶段伊利集团现阶段成长能力较为不稳定,但前景广阔。在前景分析方面,质量水平良莠不齐、竞争者的冲击、产品差异化不强是未来企业发展的风险,需要管理者找出解决对策。通过哈佛分析框架发现伊利集团尽管面临严峻的市场竞争压力,产品差异化不够突出,企业短期偿债能力较弱,成长能力不稳定,产品质量良莠不齐等问题,但总体来看企业发展良好,前景广阔。
[Abstract]:China has a large population. With the implementation of a series of strategic policies, such as reform and opening up, the living standards of the people of our country are constantly improving with the sustained development of the national economy, which meets the increasing demands of the people for food nutrition and health after food and clothing. Dairy products with its rich nutrition and high performance and price ratio quickly won the favor of consumers, leading to the unprecedented expansion of the dairy market in China. Yili Group is a leading enterprise in dairy industry, so it is necessary to analyze its financial statements. Based on the research status at home and abroad, this paper analyzes the financial statements of Yili Group by using the concept of Harvard Analysis Framework. In the level of strategic analysis, the main use of SWOT analysis. The study found that Yili Group has certain advantages in raw materials, strategic pattern, management and operation and brand, and has disadvantages in the aspects of fierce competition for milk source, serious brain drain, insufficient individualization and specialization of products. Erie Group's strategic opportunities are reflected in broad market prospects, stable external environment, emerging sales channels, and optimized product structure; Strategic threats stem from tough market regulation, threats from potential entrants, and substitutability of potential alternatives. In the level of accounting analysis, through the accounting policy changes and accounting information quality two aspects to understand Yili Group. At the level of financial analysis, through the calculation of profit margin of cost and expense, gross profit rate of sales and return on net assets, it is concluded that the management level of enterprise profitability is high; The analysis of asset-liability ratio, stockholder's equity ratio, current ratio and quick ratio shows that the enterprise's solvency is weak at the present stage but will be improved in the future. The changes of accounts receivable turnover, inventory turnover, current assets turnover and fixed assets turnover indicate that the Erie Group's operating ability maintains a better level of strength. The fluctuation of the growth ratio reflects the emergence stage of Yili Group at this stage of the growth capacity is more unstable, but the prospects are broad. In the aspect of prospect analysis, the quality level is uneven, the competition's impact, the product differentiation is not strong is the future enterprise development risk, needs the manager to find out the solution countermeasure. Through the Harvard analysis framework, we find that although Yili Group is faced with severe market competition pressure, product differentiation is not prominent enough, the short-term solvency of enterprises is weak, the growth capacity is unstable, and the quality of products is uneven, and so on. But overall the enterprise develops well, the prospect is broad.
【学位授予单位】：吉林财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.82
本文编号：2371897
[Abstract]:China has a large population. With the implementation of a series of strategic policies, such as reform and opening up, the living standards of the people of our country are constantly improving with the sustained development of the national economy, which meets the increasing demands of the people for food nutrition and health after food and clothing. Dairy products with its rich nutrition and high performance and price ratio quickly won the favor of consumers, leading to the unprecedented expansion of the dairy market in China. Yili Group is a leading enterprise in dairy industry, so it is necessary to analyze its financial statements. Based on the research status at home and abroad, this paper analyzes the financial statements of Yili Group by using the concept of Harvard Analysis Framework. In the level of strategic analysis, the main use of SWOT analysis. The study found that Yili Group has certain advantages in raw materials, strategic pattern, management and operation and brand, and has disadvantages in the aspects of fierce competition for milk source, serious brain drain, insufficient individualization and specialization of products. Erie Group's strategic opportunities are reflected in broad market prospects, stable external environment, emerging sales channels, and optimized product structure; Strategic threats stem from tough market regulation, threats from potential entrants, and substitutability of potential alternatives. In the level of accounting analysis, through the accounting policy changes and accounting information quality two aspects to understand Yili Group. At the level of financial analysis, through the calculation of profit margin of cost and expense, gross profit rate of sales and return on net assets, it is concluded that the management level of enterprise profitability is high; The analysis of asset-liability ratio, stockholder's equity ratio, current ratio and quick ratio shows that the enterprise's solvency is weak at the present stage but will be improved in the future. The changes of accounts receivable turnover, inventory turnover, current assets turnover and fixed assets turnover indicate that the Erie Group's operating ability maintains a better level of strength. The fluctuation of the growth ratio reflects the emergence stage of Yili Group at this stage of the growth capacity is more unstable, but the prospects are broad. In the aspect of prospect analysis, the quality level is uneven, the competition's impact, the product differentiation is not strong is the future enterprise development risk, needs the manager to find out the solution countermeasure. Through the Harvard analysis framework, we find that although Yili Group is faced with severe market competition pressure, product differentiation is not prominent enough, the short-term solvency of enterprises is weak, the growth capacity is unstable, and the quality of products is uneven, and so on. But overall the enterprise develops well, the prospect is broad.
【学位授予单位】：吉林财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.82
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