LEARN MORE...

Home
Documents
March 2021
9
Mf neeraj doc

Mf neeraj doc

Content type

User Generated

Uploaded By

QE_Wnpxgbar

Pages

Showing Page:

1/17

Part 1: Financial Acumen

Question 1:

The term financial acumen refers to the action of thinking to deal with money and making

financial decisions. According to Kevin, (2019), he clearly states in his article that experience is

only gain when an individual work under financial acumen. An individual need to have a capacity

to handle information, track income, costs and confirm tax. The manager must have the ability and

experience of a percentage of sales profits and inventories reductions. He elaborates on three key

concepts on how to improve financial acumen for managers. These ideas include expertise,

judgement, and troubleshooting. A manager needs to understand and have the knowledge of

investment, how to buy properties, reduction of cost and increment of salaries. In another word, it

is must be something you are pursuing consciously. The most challenging and tricky element of

financial acumen is judgment. This can make them comprehend how to troubleshoot an issue from

the past cases you encounter. At the end, once you meet similar concerns and issues, an individual

can adequately solve the problems without any challenge and fix them all (Kevin, 2019).

Ama (2019), gives an elaborate analysis that indicates the complexity of financial acumen.

To effectively create values for a given firm, mangers must adequately and efficiently comprehend

and manage some of the indexes such as targets, goods, shareholders, platforms, resources, time

zones, legal and markets. It is not only enough to just understand the meaning of numbers of KPI,

but it is good to know how to manage a business with limited regulations, management risks and

rules. While the same time managing the staffs, time, capital and keeping at same pace with the

competitors, as well as pushing of innovative and new products and meeting clients satisfactions.

Showing Page:

2/17

All these activities can be harmonized and geared towards the improvement of skills for every

person within a firm, hence motivating the staffs to elevate the firm. Managers must possess

excellent communication skills with his or her team and firmly regulate financial acumen (AMA

staff, 2019).

According to Martin, he clearly states in his article that to develop a strong financial

acumen, you need to pay attention to those four elements. Have an enhanced thoughtful of your

thinking course, improve your commercial acquaintance, develop your administration acumen and

understand and bear another management acumen, and increase the ability to manage to lead a

whole company. A leader who has a strong financial acumen always make wise judgment and

create a reliable business strategy, and then make his business successful. To train a strong

financial acumen needs time, and it is not easy. It is critical to try to schedule your development

and learning meeting and always keep curious to embrace the whole business world.

Response 1

In the area of finance, every firm can make some mistakes, but, after a short duration, one

can have an experience of a good ability to make a judgement. An individual can only evaluate the

decision they made initially and grade themselves base on the lessons learned from the experience.

The aspect of financial acuity is, therefore, an essential tool within a business firm. All successful

organizations use financial acuity in their operation. All the workers have a deeper knowledge of

the idea to ensure they make a sound decision every time they work. The concept thus makes every

individual within a firm to understand how money is made and effective decision making process

(Lund, 2019).

Showing Page:

3/17

End of Preview - Want to read all 17 pages?

Access Now

Unformatted Attachment Preview

Part 1: Financial Acumen Question 1: The term financial acumen refers to the action of thinking to deal with money and making financial decisions. According to Kevin, (2019), he clearly states in his article that experience is only gain when an individual work under financial acumen. An individual need to have a capacity to handle information, track income, costs and confirm tax. The manager must have the ability and experience of a percentage of sales profits and inventories reductions. He elaborates on three key concepts on how to improve financial acumen for managers. These ideas include expertise, judgement, and troubleshooting. A manager needs to understand and have the knowledge of investment, how to buy properties, reduction of cost and increment of salaries. In another word, it is must be something you are pursuing consciously. The most challenging and tricky element of financial acumen is judgment. This can make them comprehend how to troubleshoot an issue from the past cases you encounter. At the end, once you meet similar concerns and issues, an individual can adequately solve the problems without any challenge and fix them all (Kevin, 2019). Ama (2019), gives an elaborate analysis that indicates the complexity of financial acumen. To effectively create values for a given firm, mangers must adequately and efficiently comprehend and manage some of the indexes such as targets, goods, shareholders, platforms, resources, time zones, legal and markets. It is not only ...
Purchase document to see full attachment