Strategic financial management practices and service delivery: A Conceptual Review

Public organisations have been saddled with the responsibility of identifying the financial strategy to deploy to improve their service delivery to clients. On the one hand, while this search is ongoing, a review of the literature has shown that effective strategic financial management practices measured with strategic planning, strategic budgeting, and strategic risk management are the instruments through which such services can be made available to clients. This conceptual review of literature elucidates the various strategies of financial management mentioned above with the ligaments of service delivery such as tangibility, reliability, and responsiveness quite apart from empathy that service organisations may likely utilized in the atmosphere of exchanges. The review also attracted theoretical underpinnings such as agency theory, stakeholder theory, and resource-based view theory that explain the interconnectedness of the variables under scrutiny. The review concludes that strategic financial management practices significantly improve the service delivery of public organisations.