(Mberiah only) FIN301: SLP1

Module 1 - Background

The Role of the Financial Manager

Required Reading

Financial Managers (n.d.) Retrieved from: http://www.ncbuy.com/careers/blsj/job010.html

Kowalski, R. B., & Campbell, M. W. (2000). Leadership skills help financial managers achieve career success. Healthcare Financial Management, 54(4), 50-52.

Optional Reading

Finance and Accounting. (n.d.) Retrieved from MBA.COM . Click here to browse. This website provides descriptions of finance careers.

A British description of the role of the financial manager, retrieved from here .

This article on What does it take to become a CFO is also a good information source.

It is always important, especially in a field like finance, to know what your words mean. Please refer to: About.com glossary of financial terms.

For a thorough job description of a financial manager, read this article from the Bureau of Labor . This article discusses the nature of the work involved in the position, working conditions associated with this job, and many other aspects of being a financial manager.

This reading called Why Finance Matters is a short but good introductory article that will give you a good overview of the issues involved in being a financial manager. The focus of this article is on the decision making aspects of financial management.

On the extent to which CFO's perform well as CEO's see the following article below by Ida Picker, published in Institutional Investor, in 1989. Reflect on her arguments. Are these still relevant in today's environment?

These articles below on financial managers are worth reading. They are available in Proquest.

Do CFOs Really Make Good CEOs Institutional Investor; New York; Aug 1989; Picker, Ida;

Abstract: With the proliferation of corporate takeovers, leveraged buyouts, and restructuring in the US, it would seem that chief financial officers (CFO) hold the keys to executive wisdom. Recruiters report a growing trend of grooming CFOs for chief executive officer (CEO) positions, with some estimating that nearly 25% of top corporate leaders are former CFOs. Analysts, academics, and headhunters agree that the ideal CEO communicates well, is adept at managing managers, understands the company's product and operations, and provides a consistent vision. A recent survey by Management Practices Quarterly reveals that, of 83 new CEOs appointed in 1988, more than 18% came from operations-production backgrounds, some 23% had technical training, while only 14.4% had a financial background. D. Wayne Calloway, who became CEO of PepsiCo in May 1986, was formerly the company's CFO and is probably the best example of the valuable experience CFOs can bring to the CEO position.

Leadership skills help financial managers achieve career success Healthcare Financial Management; Westchester; Apr 2000; Robert B Kowalski; Manie W Campbell;

Abstract: Financial managers who want to distinguish themselves and their organizations need to demonstrate their leadership ability. Because financial managers sometimes overlook the need for leadership skills, cultivating mentors who can teach them specific leadership skills, such as improved communications and entrepreneurship, may be necessary. Health-care financial managers can sharpen their leadership skills by distinguishing between leadership and management, adopting a new mentoring model, evaluating the usefulness of new management techniques, understanding the connection between technology and leadership, looking for the solution beyond the problem, and being seen and heard within the organization.