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Lawrence Team

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Submitted By tajdixon
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Lawrence Sports
Working capital management is very important in running a business because it involves managing all current assets and liabilities. Working capital management involves making appropriate investments in cash, marketable securities, receivables, and inventories, as well as the level and mix of short-term financing (Emery, Finnerty, Stowe, 2007, p. 639, para. 3). Currently Lawrence sports, a multi-million dollar company that manufactures and distributes sports equipment is seeking a way to better manage its’ capital, lower loan burdens, and undertake better business deals with its’ three business partners. Management can solve this issue with working capital policies that reduce future difficulties.
Alternative Working Capital Policies
As the newly appointed finance manager, one must be fully aware of the companies operating expenses, principal source of finance, suppliers and current financial stance and process with the lending bank. Understanding how all of these relationships can cohesively work together is key to being a success in this new role. By being properly prepared and developing successful working capital policy, the company will always have balanced receivables and payables due to working and negotiating with Lawrence Sport’s customers and suppliers. This type of communication and action plan will result in optimizing revenue, decreasing cash borrowed turn-around time, positive business relations and maintaining positive cash balance thus reducing risk for unforeseen emergencies. Three alternative working capitals to evaluate are the maturity matching approach, the conservative approach, and the aggressive approach.
Maturity Approach
“With maturity matching, the firm hedges its risk by matching the maturities of its assets and liabilities.” (Emery, Finnerty & Stowe, 2007) This approach allows Lawrence Sports to develop a...

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