Built on value : the Huawei philosophy of finance management 1. Huaweis Business Goal 2. Huaweis Competition Strategy A Financial Perspective 3. Remaining Flexible to Seize Opportunities amidst Uncertainties 4. Enhancing Core Competencies through Strategic Mergers and Acquisitions and Corporate Venture Capital Investment 5. Strengthening Risk Control and Compliance Management 6. Finding the Right Amount of Openness Compromise and Huidu and Properly Balancing Expansion and Control 7. Guidelines for Value Management 8. Financial Management Throughout End to End Business Processes 9. Project Financial Management 10. Optimizing the Management Control System for Responsibility Centers 11. Developing a Better Planning Budgeting and Accounting System 12. Service and Oversight Functions of Accounting 13. Treasury Management 14. Tax Management 15. Internal Controls and Internal Audit 16. Digital Financial Management 17. Making Financial Management Process based and Professional 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 whereas the finance department is tasked to provide support and services to those business departments and oversee their operations 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 rather 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 Huaweis finance management and will help academic researchers in Business Management as well as practitioners in industry gain an accurate and in depth understanding of Huawei as a company. Weiwei Huang is a professor at the School of Business Renmin University and previously headed the Business Schools Department of Management Science and Engineering. He received his Masters Degree in Economics from the Industrial Economics Department of Renmin University of China. He is also a visiting scholar at the Desautels Faculty of Management at McGill University the Ivey Business School at the University of Western Ontario and the University at Buffalo School of Management