Abstract
Strategic financial management ability, as one of the key leverage and key drivers of development, is a subject that has always been endorsed by experts and executives; however, it has been long neglected in the domain of education. Considering the importance of this issue in the area of education, this study aimed at investigating the school headmasters’ opinions towards this type of management and its implementation in the schools of the Kurdistan region of Iraq. In this respect, 12 high school principals from this context were selected as the participants of this study. The interview was used as the research instrument in this qualitative study. The findings which are elaborated in the results section revealed that the education system had acted very poorly in developing and improving the financial management in Kurdistan, and must try to provide better and appropriate training for the school headmasters and increase the school funding to help school principals remove the problems and difficulties they face in this regard.
Highlights
The strategic financial management as defined by Delkhosh and Mousavi (2016), refers to a set of decisions and actions for managing the funds and resources which is the determiner of the organization’s long term performance.Strategic management is influenced by organizational culture and values
This study addresses the following research questions: (a) What are the most frequent strategies used by high school principals in Iraqi Kurdistan?
In this respect one of the participants explained that: “...basically, as we can see in developed countries, the schools must have accountants officially hired by the education ministry, while here most of the school responsibilities are on the back of headmasters including financial management which is a very important job.”
Summary
Strategic management is influenced by organizational culture and values. In determining this kind of strategy we need to know where we are standing and where we are heading to. In the educational context for example, in order to act strategically during the process of financial management, we should know to what educational needs our activities are going to respond, what problems they are going to solve, what is the problem solving method, and who is/are going to be affected by what we do. Strategic management enables the organization to act in a creative and innovative way, instead of passively shaping its future. This way of management makes the organization take influential activities and helps it to determine its destiny and to control its future
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