Built on Value: The Huawei Philosophy of Finance ManagementThis book is open access under a CC BY-NC-ND 4.0 license. This book presents the concept of value as the central component to success and longevity of the global ICT industry player, Huawei. It provides examples of how Huawei focuses on customers to pursue sustainable and profitable growth rather than focusing on capital market valuation which is a familiar scenario among Western companies. It is the business departments that are the creators of value for Huawei, while the finance department is tasked to provide support and services to those business departments during the value creation process. The book illustrates how Huawei Finance sets rules, allocates resources, and builds centers of expertise all over the world to address future uncertainties. More than a decade ago Huawei dedicated seven years to implement the Integrated Financial Services (IFS) Transformation Program with the help of IBM consultants. This book also draws on the leading concepts and successful experience of the IFS Transformation Program. Huawei Finance adopts three types of centralized vertical management from the top down: treasury, accounting, and auditing. It does not transfer such central authority down to lower levels, but delegates all other authority to business organizations across all levels. This management model represents the focus of this book. Built on Value provides an overview of Huawei's finance management and will help academic researchers in Business/Management, as well as practitioners in industry, an accurate and in-depth understanding of Huawei as a company. |
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accounting achieve appraisals assess Audit back offices build business departments business ecosystem business managers capabilities cash flow centers CFOs China cial company’s compliance contract core business costs countries Creative Commons licence data pipe delivery develop efficiency Elite Team employees EMT Meeting Minutes EMT Resolution ensure establish Executive Office Speech field offices financial management financial personnel financial reports focus focuses functional departments future global goal Harvest More Crops Huawei Executive Office Huawei Market Conference Huizhou ICFR implement Improvement Issue innovation integrated internal controls investment KCFR licensed Management Department management system Meng Wanzhou ment Network opportunities oversight Payment Collection performance appraisals planning process owners product lines profitable growth project managers Project Team project-centered Ren Zhengfei representative offices responsibility Revenue Recognition risks role share Source Staff strategic streamline subsidiary boards sustainable and profitable tegic tion transformation