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Why are financial skills important for a good manager?

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Question added by Mohamed El Machichi , Purchase Manager , Berkat Madinah Trading Sdn.Bhd
Date Posted: 2013/06/28
Mohammad Tohamy Hussein Hussein
by Mohammad Tohamy Hussein Hussein , Chief Executive Officer & ERP Architect , Egyptian Software Group

To be able to understand costs and control them and to be able to ensure target profitability and to enssure positive cash flow. If these are not managed, any business is subject to halt.

NIGHIL JOSEPH E R
by NIGHIL JOSEPH E R , ENGINEER - OPERATIONS AND MAINTENANCE LEAD , Quanta Towergen Pvt Ltd

At the end of the day, we all been working for the development of the company that feeds us. The atmost skill to be specialized is to do quality jobs at the minimal costs which enhance the target profitability without compromising standards.

 

He who knows his team and his standard of works is a manager. When he focus on his financial skills to maximize the profit for his company without compromising his standards is a good manager.

khaled judeh
by khaled judeh , Finance Manager , Amjad Aljazeera Holding Co.

fore many resons 

1- to give him an experience for the expected problem in the future.

2- to evaluate the financial statements.

3-to set real budget in the future .

4- to evaluate the financial manager performance.

Rishad Mohamed
by Rishad Mohamed , Sales Executive , Bolts and Tools Centre Co.LLC

To weigh the currency implications of your decisions-including the ability to build a sound budget and formulate reasonable forecasts.

Deleted user
by Deleted user

A good manager he can steady the job & give the beast solutions to give good result    

Deleted user
by Deleted user

Because: 1.
Money are a way to compare and operate with two or more otherwise incomparable quantities (for example: time, resources, damage, etc.) 2.
Everything at the end comes down to profit/money/finances, etc.
  So a manager with no financial skills could easily end up losing control on his project/job in favor of the person that does the finances.

mohammed hameed ali Ali
by mohammed hameed ali Ali , Accounts Executive , Star stationery suppliers

If a manager is well equiped with good financial skills he can perform his job well and can also have the knowledge of various departments which will be very helpful in setting up goals and expectations to run business swiftly.

 

It will also help the manger to adapt to the business requirements from time to time depending upon the situation and make bold decisions for the bnefit of the organaization.

Rudra Kashyap
by Rudra Kashyap , Head - Sales & Marketing (Grade: Senior Manager) , DigiDirect Retail Pvt. Ltd.

A good manager is one who takes responsibility of profitability of business, which essentially requires him/her to budget his/her activities in the respective field he/she is; be it manpower, sales, administration, pricing (product), marketing, production etc.
Without Financial skills the proposition of profitability here would be lost.

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