What is strategic financial management '?

Strategic financial management refers to specific planning of the usage and management of a company's financial resources to attain its objectives as a business concern and return maximum value to shareholders. Strategic financial management involves precisely defining a company's business objectives, identifying and quantifying its resources, devising a plan for utilizing finances and other resources to achieve its goals, and establishing procedures for collecting and analyzing data, making financial decisions, and tracking and analyzing variance between budgeted and actual results to identify problems and take appropriate corrective actions.