The thesis project is based on the treasury management applied to the organizations Skeacher case of Venezuela, the design of the plan is confronted in providing information for the management of funds, and carries out the various operations that the financial world offers, this It allows analysis for the preparation of a more dynamic and harmonious project, by proposing strategies to improve treasury operations. The methodology used falls under the feasible project modality, which consists of the investigation, elaboration and development of a proposal to solve the problem and thus be able to have good cash management within the organization.
Introduction
The purpose of the research proposal referred to in this document is to establish the Treasury Management applied in the case organizations: Skeacher de Venezuela located in San Cristóbal, Táchira State.
In the design of the plan, it is confronted with supplying timely information for the management of funds and carrying out the various operations offered by the financial world applied in Venezuela. This allows analysis for the development of a more dynamic and harmonious project, by proposing strategies to improve the application of treasury operations.
The work is structured by chapters. In Chapter I the problem is identified, the importance is reasoned and justified, exposing its scope and limitations, the general and specific objectives are defined. Chapter II refers to the theoretical framework, beginning with the background on which the research is based, its literature review and its theoretical bases. In Chapter III presents the Methodology related to the research, instruments, population and sample and in Chapter IV the work plan.
Chapter I
Problem Statement
1.1 Formulation of the Problem:
The Financial World has entered a time, totally different from the one that it lived in the last 5 years ago, in Venezuela from January 1997. The Manager is faced with a totally different financial environment than he was used to, with a high degree of uncertainty and risk linked to cash management.
The widening of the range of responsibilities and financial administration has led to the need for new techniques and new forms of management, issues such as currency risk management that implies a new way of managing assets and liabilities in various currencies, as well as selective allocation of resources among the different components of working capital.
The change in the general price level as an indicator of inflation began to be relevant in recent months, throughout Venezuela inflation was initially seen more as a consequence of devaluation than as a phenomenon to be studied in itself, to face it as a company. Borrowing to acquire goods whose prices will increase generating profits that compensated more than proportionally to financial costs, was the strategy of the moment.
In the companies located in Táchira state, the economic adjustments implemented as of February 1999 represented a financial shakeup in the border organizations and companies. A change in the role of the state within the economy is expected, and for the first time in half time the market force, timidly, begins to set the price of goods and services. A large part of the subsidies granted by the state disappear, generating significant inflation and changes in companies in response to the change.
It is not alarmist to affirm that today in the Two Thousand and Two there are in Venezuela and especially the companies located in the state of Tachira an increasing number of financial difficulties due to objectionable treasury planning and operation. The difficulties in financial techniques have increased and their effects have contributed to the suspension and until the closure of the activities of numerous companies, which means that analysis mechanisms need to be implemented in the treasury to qualify and quantify the results of the new situation.
By virtue of the aforementioned situation, this degree project develops a series of considerations to design a treasury model that couples and allows the financing of its activities and the diversification of its income, through investment and obtaining extraordinary income.
1.2 Importance and Justification of the Problem
The Skeacher Company of Venezuela is the result of a group of Entrepreneurs and Businessmen directly linked to the elaboration and manufacture of footwear for more than ten (10) years of experience. The company is located in the state of Táchira Callejuela La Parada. Its operations begin on April 4, 2001, with an initial capital of Ten Million Bolívares (Bs. 10,000,000, oo). It currently manufactures unisex casual shoes, has a wide exclusive portfolio of clients distributed throughout Venezuela and is made up of the following line of management: Presidency, Administration and Finance, Sales and Marketing.
In addition, the company has the services of an accounting advisory and administrative firm that is in charge of advising the company and is characterized by being a traditionalist company.
In the Skeacher company, its administration and finance area, they have been developing as their main function the obtaining and management of capital following conservative and low-risk operations, and as a consequence of these operations their profitability on their fund surpluses has not achieved the desired performance, bringing as a consequence the slow development of the company, including unproductive decisions, which have caused the neglect of its organization and updating of its main operations in the treasury area such as: (handling of cash, policies, negotiable securities, investments and other own operations) this being the main problem to solve.
1.3 Objectives
1.3.1 General Objective
Design the different treasury operations for the application and use in the company, Skeacher de Venezuela.
1.3.2 Specific objectives
1. Determine the degree of culture and organizational climate in the company.
2. Identify Treasury operations and their results.
3. Evaluate the different financial operations.
4. Design strategies to improve the application of treasury operations for the Skeacher company in Venezuela.
1.4 Scope and limitations
The degree work includes the study of the Skeacher Factory of Venezuela located in Callejuela La Parada N ° 16-109 Barrio la Guaira, San Cristóbal Táchira State.
The development of the investigation will allow defining and applying the most relevant strategies and their different operations in the study area.
The design of treasury operations will serve to design strategies and implement analysis mechanisms to qualify and quantify the raising and management of capital.
Among the limitations presented by the Project is the difficulty of direct access to the source of information regarding the field of research, relative shortage of time, and lack of Bibliographies on topics related to the treasury of the Venezuelan environment.
Chapter II
Theoretical framework
2.1 Background
The company's long-regarded financial organizations started from economics, emerged as a field of independent study at the beginning of this century. Originally they related only to documents, institutions and procedural aspects of capital markets. Accounting data and financial records were not like what is currently used, nor were there regulations that required disclosure of financial information, although interest in promotion, consolidations, and mergers was growing.
Different related studies have been found in the treasury area, according to Gómez, 1998 points out:
“The elaboration of a Treasury system that optimizes the use of cash. However, despite the enormous advantages that it still has, it is practically unknown and almost not used, with our exploratory research, which uses a survey as an instrument. ”
The model presented is through the development of work, it can vary from one economic group to another, since each one has its own characteristics that would change the system. There is no doubt in considering that this work will be a valuable contribution to the region and to many groups of companies.
Garnica 1991 notes that:
“The financial management is responsible for the administration of resources, being the handling of money, among them, a factor of vital importance for any company regardless of its size; if one takes into account the effect that inflation and other environmental factors may have on said resources. ”
Consequently, financial management must have a plan to determine how much cash the company will have, what its sources are, when it will be available and when it will be used, which is why this thesis work designs an Integral system of treasury.
2.2 Bibliographic Review:
The present work of degree has been sustained in the study and analysis of different bibliographic sources for the definition, obtaining of information and postulates of different authors that will allow to deepen in relation to the problem under study.
1.-GÓMEZ, Saavedra Eduardo "Administration of Total Quality Control" 1991
The author explains how the concept of productivity cannot be independent of other factors and especially the concept of quality, that is, one cannot speak of high productivity with poor quality or low productivity with ideal quality.
It explains how in practice there is an intrinsic and substantial balance between the two terms in that when setting the levels of productivity the optimum quality must be defined for them and when setting the optimal quality it is necessary to calculate it according to a productivity scheme.
It shows how the different factors that confirm the concepts of productivity and quality appear, in such a way that their proper management extends the future development of the company.
2.-KOONTZ Harnold and WEIHRICH Heiz "Administration a Global Perspective", 1994
It presents the reality of administrative practice in a more global way, including the study of the basic functions of administration (Planning, organization, integration of personnel, management and control, and in addition to decision-making) In some Spanish-speaking countries. Its focus is global, understanding the analysis of the commercial blocks in which we are immersed, which is why the five functions of the administrative process are described and compared.
3.-STONER, Junes and TREEMAN Edward "Administration", 1994
The authors of this work try to communicate the positive concept that is made about the manager's work. The administrative process is presented in a more updated form taking into account the changing environment that surrounds organizations today.
4.-VAN HOINE, "Financial Administration" 1993.
This author defines financial theory and practice where he is changing rapidly, not only have advances been made in the theory of finance, but the environment has changed dramatically since our last issue. Explains the internal rate of return, efficient financial markets, administrative structure and methods for evolution, credit and collection policies.
2.3 Definition of Terms:
Administration: It is sometimes considered a science; others a technique. It serves to organize, control and evaluate the financial, human and material resources in a public, social or private company.
Stockbroker: A natural or moral person who is professionally dedicated to the purchase and sale of stocks, bonds and securities in general, charging a commission for their services.
Savings: Excess of current income with respect to current expenses or expenses.
Administration and Custody of Securities: The client accelerates a contract with the institution through which it is responsible for storing and / or managing the client's fixed and variable income securities.
Financial Analysis: Activity that separates the various elements that concur in the results of a company's operations, and identifies the factors that comprise it, in order to determine its participation in it.
Analyst: Professional who is dedicated to studying securities or stock markets, or both. Typically, an analyst specializes in one or two industries.
Fiscal Year: Budget Year and accounting period for which gross income and expenses are budgeted, and for which accounts are presented, not including any supplementary period during which the accounting books can be kept open after the beginning of the fiscal period covers January to December.
Financial Leverage: It is the use that companies make of other people's resources, in such a way that a greater proportion of liabilities with respect to own capital.
Appreciation of Resources: Estimation of the value of the assets of a company.
Currencies: The one that will be backed by substantial international reserves. Such reserves usually take the form of gold and convertible currencies.
Finance: These are the functions focused on planning and controlling the flow of funds of a company, that is, ensuring that the funds of the company are applied in the best possible way. Likewise, they aim at the optimal administration of economic and human resources that ensures future profitability.
Cash Flow: It is the utility of deducting taxes, plus expenses that do not involve cash outlays, such as depression.
Cash Flow: It is the financial statement that shows the origin of the funds and their application in the operations of the company, which allows planning bank investments, loans between subsidiary or bank companies, dividend payments.
Chapter III
Methodological framework
3.1 Type of Research
In the special degree work according to the UPL manual, 1998. It could be conceived within the following general research modalities
a) Field Research
b) Documentary Research
c) Research feasible project
The present investigation enters into the feasible project modality, which consists of the investigation, elaboration and development of a proposal for an opportune, viable model to solve problems, requirements or needs of social organizations.
3.2 Population and Sample
Population: according to Tamayo 1998, it defines as, "the totality of the phenomenon to be studied from where the population units have a common characteristic, which is studied and gives rise to the research data".
In this sense, and for the present investigation, the population is made up of the managerial, administrative, operational, and worker personnel of the Skeacher factory in Venezuela.
Shows:
"When selecting a part of the elements with the intention of investigating something about the population to be studied, we refer to the set as a sample which is representative of the population.
In our case, the sample will be made up of those people from the administrative area who operate in the treasury.
3.3 Data Collection Techniques
The data collection depends largely on the type of research and the problem posed, it can be done from a simple bibliographic record, observation, interview, questionnaire, survey and even by carrying out the research for this purpose.
As a technique for data collection, the interview will be applied, which will allow obtaining the necessary information quickly and reliably. In addition, bibliographic records and direct observation will be used.
3.4 Instruments to Use:
The instrument to be used for the collection of information will be the questionnaire-type interview, the topic of which was prepared according to the main indicators provided by the variables in order to search through the interview responses for the elements that allow for a clear notion of Treasury management applied to case organizations: Skeacher de Venezuela.
Workplan
4.1 Activity Diagram
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Stages |
October |
November |
December |
January |
February |
March |
April |
May |
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| 1, - Preparation of the Draft | ||||||||||||||||||||
| 2, - Presentation of the Draft | ||||||||||||||||||||
| 3, - Application of Surveys | ||||||||||||||||||||
| 4, - Survey Processing | ||||||||||||||||||||
| 5, - Analysis and Interpretation | ||||||||||||||||||||
| 6, - Typing | ||||||||||||||||||||
| 7, - Presentation |
4.2 Resources used
4.2.1 Humans
- Staff assigned to the Administrative area Teaching staff attached to the Instituto Universitario Gran Colombia IUGC.
4.2.2 Materials:
- Computers and Printers Calculators Bibliography: Magazines, books, guides and the Internet
4.2.3 Financial
- Transportation Tutorials Inspection Test Office Supplies Questionnaire Photocopies Bibliographic Material 3 copies of the proposal for a Bachelor's Degree
Bibliographies
- DANKE. "Research and Communication", Mc Graw Hill, Mexico FRREMAN R, Eduard, Gilberth Jr Doniel R, and Stoner James AF "Administration" Editorial Prentice-Hall Hispanoamérica SA Mexico Edition 1996HAMILTON, Alexander, "How to Increase Productivity" Edif Mc Graw Hill, New York, 1977.KOONTZ, Harold and WEIHRJCH Heinz "Administration a global perspective", Mc Graw Hill, 1994.MENDEZ, Carlos "Methodology" Mc Graw Hill, Colombia 1995.SALINAS, Pedro José and PEREZ FEO Mirna "Practical Initiation to Scientific Research ”, Universidad de los Andes, Mérida 1991.-SCROEDER Roger” Operations Administration “Editorial Mc Graw Hill. Mexico 3rd Edition, 1993.STONER James and FREEDMAN Edward, "Administration", Prentice Hall, 1994.TAMAYO and TAMAYO, Mario, "The Process of Scientific Research", Editorial Limusa México 1985.
