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Creating Financial Acumen
What are the benefits of establishing solid financial acumen in a company?
It was really interesting and marvelous to listen to Blythe McGarvie’s regarding the financial aspects. (Laureate Education, 2010a) explains, ‘‘Finance is the language of business, and people need to understand what makes money for a company, irrespective of their function within it. The more that people can be trained in financial acuity, the more the organization will flourish’’.
The following are the benefits of establishing solid financial acumen in any given company (CMB Training, n.d.): a) Employees that understand business, revenue and profitability and work accordingly – This part of the financial acumen would enable employees to make a commitment for themselves. Under this categorical process, the employees would often work hard enough in order to fully prioritize profitability for the company. The employees often motivate and play an important leadership characteristic traits towards business revenue and profitability growth, b) Employees that manage their work to ensure that it is adding maximum value to the organization – Under this unique perspective, the respective employees can dourly work at any given organizational level. The dedicated employees often have self awareness and know the possibility of their final work procedures. The most admirable employees, who have the core financial acumen, would often lead themselves in order to allow time and commitment to the organizational tasks and c) Getting the best value within the budget – For many companies budget can be hefty and often can lead to self time awareness. Most companies treat budget as money, which therefore allows the management sector to allocate their time, thoughts and responsibilities. It is therefore self believed that if an employee who has well financial acumen would enable him to find ways to utilize and budget the overall value for the organization.
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